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Page 1
           INTEGRASI BERKELANJUTAN
             ANTARA HULU DAN HILIR
    UNTUK PERTUMBUHAN BISNIS YANG TANGGUH.
Continuous Integration Between Upstream and Downstream for Resilient Business Growth.




                    LAPORAN TAHUNAN             ANNUAL REPORT



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                                                                        PT SAWIT SUMBERMAS SARANA TBK.
                                                                             Laporan Tahunan 2023 Annual Report
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    SANGGAHAN DAN BATASAN TANGGUNG JAWAB
    DISCLAIMER AND BOUNDARIES

    Laporan Tahunan 2023 PT Sawit Sumbermas Sarana Tbk diterbitkan                   The 2023 Annual Report of PT Sawit Sumbermas Sarana Tbk is published
    bersamaan dengan Laporan Keberlanjutan 2023 PT Sawit Sumbermas                   in conjunction with the 2023 Sustainability Report of PT Sawit Sumbermas
    Sarana Tbk, yang merupakan satu kesatuan yang tidak terpisahkan untuk            Sarana Tbk, which is an integral part of providing a complete picture
    memberikan gambaran secara utuh tentang risiko, peluang, dan prospek             of the Company’s risks, opportunities, and prospects in the future, thus
    Perseroan di masa depan, sehingga membantu Pemegang Saham dan                    helping Shareholders and Stakeholders The importance of understanding
    Pemangku Kepentingan memahami tujuan strategis Perseroan dan                     the strategic objectives of the Company and its development in creating
    perkembangannya dalam menciptakan nilai yang berkelanjutan.                      sustainable value.

    Laporan Tahunan 2023 PT Sawit Sumbermas Sarana Tbk disusun                       The 2023 Annual Report of PT Sawit Sumbermas Sarana Tbk is prepared
    berdasarkan pada Anggaran Dasar Perusahaan; Undang-Undang No. 40                 based on the Company’s Articles of Association; Law No. 40 of 2007
    Tahun 2007 tentang Perseroan Terbatas; Undang-Undang No. 11 Tahun                concerning Limited Liability Companies; Law No. 11 of 2020 concerning
    2020 tentang Cipta Kerja; Peraturan Otoritas Jasa Keuangan No. 29/               Job Creation; Financial Services Authority Regulation No. 29/POJK.04/2016
    POJK.04/2016 tentang Laporan Tahunan Emiten atau Perusahaan Publik;              concerning Annual Reports of Issuers or Public Companies; and Circular of
    dan Surat Edaran Otoritas Jasa Keuangan No. 16/SEOJK.04/2021 tentang             the Financial Services Authority No. 16/SEOJK.04/2021 concerning Form
    Bentuk dan Isi Laporan Tahunan Emiten atau Perusahaan Publik.                    and Content of Annual Reports of Issuers or Public Companies.

    Dalam rangka menerapkan praktik terbaik prinsip-prinsip Tata Kelola              In order to implement the best practices of the principles of Good Corporate
    Perusahaan yang Baik atau Good Corporate Governance (GCG), penyampaian           Governance (GCG), the submission of this report also refers to the applicable
    laporan ini juga mengacu pada pedoman praktik tata kelola yang berlaku           governance practice guidelines at the national scope, namely the General
    di lingkup nasional, yaitu Pedoman Umum Governansi Korporat Indonesia            Guidelines for Indonesian Corporate Governance (PUGKI) issued by the
    (PUGKI) yang dikeluarkan oleh Komite Nasional Kebijakan Governance               Committee National Governance Policy (GCG) in 2021.
    (GCG) tahun 2021.

    Laporan Tahunan ini terdiri dari beberapa bab, meliputi Ikhtisar Kinerja,        This Annual Report consists of several chapters, covering Performance
    Laporan Manajemen, Profil Perusahaan, Analisis dan Pembahasan                    Highlights, Management Reports, Company Profiles, Management
    Manajemen, Tata Kelola Perusahaan, dan Tanggung Jawab Sosial dan                 Discussion and Analysis, Corporate Governance, and Social and
    Lingkungan.                                                                      Environmental Responsibility.

    Penyebutan satuan mata uang “Rupiah”, “Rp” atau “IDR” merujuk pada mata          The mention of the currency unit “Rupiah,” “Rp,” or “IDR” refers to the official
    uang resmi Republik Indonesia, sedangkan “Dollar AS” atau “USD” merujuk          currency of the Republic of Indonesia, while “US Dollar” or “USD” refers
    pada mata uang resmi Amerika Serikat. Semua informasi keuangan                   to the official currency of the United States. All financial information is
    disajikan dalam mata uang Rupiah sesuai dengan Standar Akuntansi                 presented in Rupiah in accordance with Indonesian Financial Accounting
    Keuangan Indonesia.                                                              Standards.

    Penyebutan kata “SSMS” dan “Perseroan” didefinisikan sebagai PT Sawit            The mentioned words “SSMS” and “Company” are defined as PT Sawit
    Sumbermas Sarana Tbk yang menjalankan bisnis utamanya di bidang                  Sumbermas Sarana Tbk, which carries out its main business in the palm oil
    perkebunan sawit.                                                                plantations sector.

    Laporan Tahunan disajikan dalam dua bahasa, yaitu Bahasa Indonesia dan           The Annual Report is presented in two languages, namely Indonesian and
    Bahasa Inggris dengan menggunakan jenis dan ukuran huruf yang mudah              English, using an easy-to-read font type and size and good-quality printing.
    dibaca dan dicetak dengan kualitas yang baik. Laporan Tahunan ini dapat          This Annual Report can be viewed and downloaded on the official portal of
    dilihat dan diunduh di portal resmi PT Sawit Sumbermas Sarana Tbk yaitu          PT Sawit Sumbermas Sarana Tbk www.ssms.co.id.
    www.ssms.co.id.




    TENTANG LAPORAN TAHUNAN 2023
    ABOUT THE 2023 ANNUAL REPORT

    Laporan Tahunan PT Sawit Sumbermas Sarana Tbk memuat pernyataan                  The Annual Report of PT Sawit Sumbermas Sarana Tbk contains a financial
    kondisi keuangan, hasil operasi, proyeksi, rencana, strategi, kebijakan, serta   condition, operating results, projections, plans, strategies, policies, and
    tujuan Perseroan, yang digolongkan sebagai pernyataan ke depan dalam             objectives of the Company, which are classified as forward-looking
    pelaksanaan perundang-undangan yang berlaku, kecuali hal-hal yang                statements in implementing applicable laws, except for historical matters.
    bersifat historis. Pernyataan-pernyataan tersebut memiliki prospek risiko,       These statements have prospects of risk and uncertainty and may result
    ketidakpastian, serta dapat mengakibatkan perkembangan aktual secara             in actual developments that are materially different from those reported.
    material berbeda dari yang dilaporkan.

    Pernyataan-pernyataan prospektif dalam Laporan Tahunan ini dibuat                The prospective statements in this Annual Report are based on various
    berdasarkan berbagai asumsi mengenai kondisi terkini dan kondisi                 assumptions regarding the current and future conditions of SSMS and
    mendatang SSMS serta lingkungan bisnis di mana Perseroan menjalankan             the business environment in which the Company carries out its business
    kegiatan usaha. Pernyataan yang terdapat di Laporan Tahunan ini bukan            activities. The statements in this Annual Report are not a guarantee of
    menjadi jaminan kinerja di masa yang akan datang, karena hasil sebenarnya        future performance because actual results in the future may differ because
    di masa depan dapat berbeda karena dapat dipengaruhi oleh beberapa               they may be influenced by several factors beyond the Company’s control.
    faktor di luar kendali Perseroan.




2 Laporan Tahunan 2023 Annual Report
    PT SAWIT SUMBERMAS SARANA TBK.
Page 3
                               INTEGRASI BERKELANJUTAN
                              ANTARA HULU DAN HILIR
                     UNTUK PERTUMBUHAN BISNIS YANG TANGGUH
              Continuous Integration Between Upstream and Downstream for Resilient Business Growth


Kelapa Sawit merupakan industri yang potensial dan merupakan salah            As a potential industry and one of the national strategic industries, the
satu industri strategis nasional. Industri sawit Indonesia berperan penting   Indonesian palm oil industry plays an important role in improving the
pada peningkatan perekonomian dengan kinerja perdagangan yang terus           economy through continuously increasing trade performance, and
meningkat, dan industri ini juga melibatkan banyak pelaku usaha dari          becoming a multiplier effect involving many business actors from various
berbagai kelompok ekonomi.                                                    economic groups.

Melalui pengelolaan bisnis yang berkelanjutan, Perseroan memperkokoh          Through sustainable business management, the Company strengthens its
strategi bisnisnya dengan memperkuat industri yang terintegrasi, upaya ini    business strategy by strengthening integrated industries. In this way, the
akan membantu dan meningkatkan pertumbuhan perekonomian daerah                Company can help and increase regional and national economic growth.
dan nasional. Hal itu ditandai dengan rencana Aksi Korporasi Perseroan        This was marked by completing the Company’s Corporate Action this
pada tahun ini yaitu debt equity swab Perusahaan afiliasi yang terintegrasi   year through a debt equity swab of an affiliated company that integrated
hilirisasi fraksinasi kelapa sawit.                                           downstream palm oil fractionation.

Sejalan dengan program Pemerintah melalui hilirisasi industri kelapa          In line with the Government’s program through the downstreaming of the
sawit, yang dimaknai sebagai upaya strategis meningkatkan nilai tambah        palm oil industry, which is interpreted as a strategic effort to increase the
komoditas kelapa sawit melalui proses pengolahan agar menjadi                 added value of palm oil commodities through processing so that they
produk turunan yang memiliki nilai jual lebih tinggi. Untuk itu, Perseroan    become derivative products that have a higher selling value. For this reason,
memperkokoh dengan integrasi yang kuat menjadikan Perseroan semakin           the Company strengthens its strong integration, making the Company grow
berkembang pesat dan kuat, sehingga dapat mengembangkan potensi dan           rapidly and stronger, so that it can develop regional potential and economy
perekonomian daerah secara langsung.                                          directly.




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                                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                               Laporan Tahunan 2023 Annual Report
Page 4
     KESINAMBUNGAN TEMA
     CONTINUITY THEME
2022


                                                                          2021
                 Mendukung Ketahanan Pangan Nasional                                                  Bersinergi Meningkatkan
                   Melalui Bisnis yang Berkelanjutan                                                 Potensi Bisnis Berkelanjutan
          Supporting National Food Security Through Sustainable Business                     Synergize to Empower Sustainable Business Potential


     Di tengah beratnya tantangan perekonomian di sepanjang tahun 2022,            Di tahun 2021, pandemi Covid-19 masih mempengaruhi kondisi
     SSMS tetap resilien, mampu beradaptasi dengan meraih kinerja yang positif.    perekonomian dan industri secara global dan nasional, termasuk di
     Pencapaian tersebut tidak lepas dari strategi dan kebijakan strategis yang    dalamnya industri kelapa sawit. Menghadapi tantangan tersebut, SSMS
     diterapkan pada periode-periode sebelumnya, sehingga SSMS mampu               memperkuat sinergi antar Entitas Grup, mengimplementasikan langkah-
     mengantisipasi setiap tantangan yang ada, mengoptimalkan potensi
                                                                                   langkah strategis, mengembangkan inovasi, dan juga mengedepankan
     yang dimiliki, dan mengantarkan SSMS pada pencapaian target yang
                                                                                   penerapan protokol kesehatan yang tepat dan konsisten guna mendukung
     telah ditetapkan di awal tahun. Salah satu strategi yang terus dilakukan
     secara berkesinambungan adalah penelitian dan pengembangan teknolgi           keberlanjutan bisnis inti Perseroan serta memperkuat struktur keuangan
     perkebunan. Langkah ini ditujukan untuk memperbaiki praktik berkebun agar     Perseroan sejalan dengan komitmen SSMS untuk senantiasa bertumbuh
                                                                                   dan memberikan nilai yang positif kepada para pemegang saham dan
     menghasilkan produk-produk terbaik pada masa mendatang.
                                                                                   pemangku kepentingan.
     Amidst the severe economic challenges throughout 2022, SSMS remained
     resilient, and able to adapt by achieving positive performance. This          In 2021, the Covid-19 pandemic will still affect economic and industrial
     achievement cannot be separated from the strategic strategies and policies    conditions globally and nationally, including the palm oil industry. Facing
     implemented in previous periods so that SSMS is able to anticipate every      these challenges, SSMS strengthens synergies between Group Entities,
     challenge, optimize its potential, and deliver SSMS to achieve the targets    implements strategic measures, develops innovation, and also prioritizes
     set at the beginning of the year. One strategy that continues to be carried   the implementation of appropriate and consistent health protocols to
     out on an ongoing basis is the research and development of plantation         support the sustainability of the Company’s core business and strengthen
     technology. This step is aimed at improving gardening practices in order to
                                                                                   the Company’s financial structure in line with SSMS’s commitment
     produce the best products in the future.
                                                                                   to continue to grow and provide positive value to shareholders and
                                                                                   stakeholders.




 4 Laporan Tahunan 2023 Annual Report
     PT SAWIT SUMBERMAS SARANA TBK.
Page 5
2020


                                                                          2019
                Memperkuat Ketahanan untuk                                               Nyata Membangun Negeri Melalui Inovasi dan
            Bisnis Kelapa Sawit yang Berkelanjutan                                             Optimalisasi Bisnis Berkelanjutan
        Building Business Resilience through a Sustainable Palm Oil                             Developing the Nation Through Innovation and
                                                                                                    Optimization of Sustainable Business

 Di tengah tantangan akibat pandemi global Covid-19, PT Sawit Sumbermas            PT Sawit Sumbermas Sarana Tbk (“SSMS”) bertekad untuk berbakti kepada
 Sarana Tbk (“SSMS”) senantiasa memperkuat komitmen untuk terus                    Bangsa Indonesia dengan segenap kemampuan dan kelebihan yang
 tumbuh berkelanjutan yang diwujudkan melalui peningkatan penerapan                dimilikinya sejak Perseroan berdiri. Sehingga, hal ini menjadi keyakinan
 sistem pengendalian internal untuk memastikan seluruh pelaporan                   bagi Perseroan untuk terus mewujudkan komitmen kepedulian pada
 perusahaan telah sesuai dengan ketentuan yang berlaku. Kecukupan                  sesama serta mengerjakan setiap proses bisnisnya secara berkelanjutan.
 sistem pengendalian internal ini tidak hanya menjadi bagian dari                  Hal tersebut yang menjadikan SSMS semakin mendapat kepercayaan
 pelaksanaan best practices, namun juga memfasilitasi Perseroan untuk              dari para pemangku kepentingan dan menjadi bagian dari pertumbuhan
 beroperasi secara efisien dan efektif sehingga dapat meningkatkan daya            pembangunan berkelanjutan kawasan perkebunan di Indonesia hingga
 saing dan mengoptimalkan peluang bisnis di tengah pandemi.                        saat ini.

 During challenges due to the global Covid-19 pandemic, PT Sawit                   PT Sawit Sumbermas Sarana Tbk (“SSMS”) has been determined to serve
 Sumbermas Sarana Tbk (“SSMS”) continues to strengthen its commitment              the Indonesian nation with all its capabilities and advantages since the
 to continue sustainable growth, which is realized through improving the           Company’s establishment. Thus, this is a belief for the Company to continue
 implementation of internal control systems to ensure that all company             to realize its commitment to caring for others and work on every business
 reporting is applicable regulations. The adequacy of this internal control        process in a sustainable manner. This is what makes SSMS increasingly
 system is not only part of implementing best practices but also facilitates the   gain the trust of stakeholders and become part of the growth of sustainable
 Company to operate efficiently and effectively to increase competitiveness        development of plantation areas in Indonesia to date.
 and optimize business opportunities during a pandemic.




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                                                                                                                             PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                  Laporan Tahunan 2023 Annual Report
Page 6
    SEKILAS TENTANG PERUSAHAAN
    COMPANY OVERVIEW

    Melalui 23 perkebunan kelapa sawit yang dikelolanya, SSMS                  Through its 23 estates oil palm plantations, SSMS produced close
    menghasilkan hampir 2 juta MT TBS pada tahun 2023 dan >500                 to 2 million MT of FFB in 2023 and >500k MT of CPO through
    ribu MT CPO melalui akuisisi tambahan 440 ribu MT TBS dari                 acquiring an additional 440k MT of FFB from independent sources.
    sumber independen. Sejak Perseroan mengakuisisi PT Citra                   Since PT Citra Borneo Utama Tbk. (“CBUT”) was acquired by the
    Borneo Utama Tbk. (“CBUT”), produk CPO ini kemudian langsung               Compay, this CPO product is then processed directly by CBUT for
    diolah oleh anak perusahaan, CBUT untuk diproses lebih lanjut              further processing into palm oil derivative products.
    menjadi produk turunan kelapa sawit.


    BUSINESS MODEL + PRODUCTION STATISTICS


                       UPSTREAM


                                                                         MANAGES
                                                                        23 ESTATES




                                                  INTI ESTATES                                 PLASMA                                INDEPENDENT
                                                   1.9 million MT of                           ESTATES                                 SOURCES
                                                          FFB                                 83K MT of FFB                           440K MT of FFM




                                                                                                      Total of 2.3 million MT        106K MT or
                                                                                                      of FFB Pocessed                3-6% FFB sold
                      MIDSTREAM                                                                       @70% mill utilization          to 3rd party
                                                                                                      of 8 mills




                                                                3RD PARTY                       MILLS                           3RD PARTY
                                                                SOURCES                      508K MT of CPO
                                                              508K MT of CPO                  97K MT of PK                        MILLS




                                                                                       OER: 22.30%            KER: 4.26%




                    DOWNSTREAM




                                                   INTERNAL                                   KERNEL                                   3RD PARTY
                                                 DOWNSTREAM                                  CRUSHING                                   BUYERS
                                                   461K MT of CPO                                                                     123K MT of CPO
                                                   59K MT of PKO
                                                                            PKO: 40.03%        PLANT                                   15K MT of PKO




                                                                                  Operations managed by CBUT




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KOMITMEN KEBERLANJUTAN SSMS
SSMS SUSTAINABILITY COMMITMENT

PT Sawit Sumbermas Sarana Tbk meyakini, untuk menjadi                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  PT Sawit Sumbermas Sarana Tbk believes in becoming a
perusahaan perkebunan kelas dunia dengan misi untuk                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    world-class plantation company with a mission to realize the
mewujudkan potensi minyak kelapa sawit, perusahaan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     potential of palm oil, and the company must run its business
harus menjalankan bisnisnya dengan baik. Bisnis yang baik,                                                                                                                                                                                                                                                                                                                                                                                                                                                                             well. Good business, in our dictionary, is conducted
dalam kamus kami, adalah bisnis yang dilakukan secara                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  sustainably according to three main pillars: maintaining
berkelanjutan sesuai dengan tiga pilar utama: memelihara                                                                                                                                                                                                                                                                                                                                                                                                                                                                               healthy profit receipts for operational sustainability,
angka penerimaan laba yang sehat demi keberlanjutan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    creating added value for all people who come into contact
operasional, menciptakan nilai tambah untuk semua                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      with the company, and helping to protect the Planet on
manusia yang bersinggungan dengan perusahaan, dan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      which we all stand.
membantu melindungi planet tempat kita semua berdiri.

Karena     itulah   kami     berjuang    untuk    selalu                                                                                                                                                                                                                                                                                                                                                                                                                                                                               That’s why we strive to always implement industry
mengimplementasikan praktik terbaik di industri dan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    best practices and the highest sustainability standards,
standar keberlanjutan tertinggi, termasuk juga bekerja                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 including working with other stakeholders. Our plantations
sama dengan pemangku kepentingan lain. Perkebunan dan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  and mills have also equipped with national and international
Pabrik sawit kami pun telah dilengkapi dengan sertifikasi                                                                                                                                                                                                                                                                                                                                                                                                                                                                              standard certifications.
berstandar nasional maupun internasional



                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      REGISTRATION                                                                                                                                                                                                                                                                                                       REGISTRATION                                                                                                                                                                                                                                                                                                       REGISTRATION
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               This is to certify that the Human Rights Management System of


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       PT Sawit Sumbermas Sarana Tbk.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     REGISTRATION
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  This is to certify that the Human Rights Management System of


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           PT Kalimantan Sawit Abadi
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     This is to certify that the Human Rights Management System of


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             PT Mitra Mendawai Sejati
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      CERTIFICATE
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   has been assessed by PT AJA Sertifikasi Indonesia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      CERTIFICATE
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      has been assessed by PT AJA Sertifikasi Indonesia                                                                                                                                                                                                                                                                  has been assessed by PT AJA Sertifikasi Indonesia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          and registered against the requirements of                                                                                                                                                                                                                                                                         and registered against the requirements of                                                                                                                                                                                                                                                                         and registered against the requirements of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  This is to certify that the Human Rights Management System of                                                                                                                                                                                                                                                      This is to certify that the Human Rights Management System of


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           BUSINESS AND HUMAN RIGHTS INTERNATIONALPT. Menteng Kencana Mas                                                                                                                                                                                                                                                     BUSINESS AND HUMAN RIGHTS INTERNATIONAL PT. Mirza Pratama Putra                                                                                                                                                                                                                                                    BUSINESS AND HUMAN RIGHTS INTERNATIONAL
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           STANDARDS FOR CERTIFICATION (BHRISC 2011)                                                                                                                                                                                                                                                                          STANDARDS FOR CERTIFICATION (BHRISC 2011)                                                                                                                                                                                                                                                                          STANDARDS FORCERTIFICATION (BHRISC 2011)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      has been assessed by PT AJA Sertifikasi Indonesia                                                                                                                                                                                                                                                                  has been assessed by PT AJA Sertifikasi Indonesia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              endorsed by FIHRRST on April 6, 2015                                                                                           and registered against the requirements of                                                                                                                                          endorsed by FIHRRST on April 6, 2015                                                                                           and registered against the requirements of                                                                                                                                          endorsed by FIHRRST on April 6, 2015




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               BUSINESS AND HUMAN RIGHTS INTERNATIONAL                                                                                                                                                                                                                                                                           BUSINESS AND HUMAN RIGHTS INTERNATIONAL
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                AJA/18/BHRISC/0002                                                                                STANDARDS
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         26th September 2018 FOR CERTIFICATION (BHRISC 2011)                                                                                                                                                                       AJA/18/BHRISC/0003                                                                                STANDARDS
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            26th September 2018 FOR CERTIFICATION (BHRISC 2011)                                                                                                                                                                       AJA/18/BHRISC/0004                                                                       26th September 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Certificate No.                                                          Date of Original Registration                                                                                                                                                                                                             Certificate No.                                                           Date of Original Registration                                                                                                                                                                                                            Certificate No.                                                          Date of Original Registration


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  endorsed by FIHRRST on April 6, 2015                                                                                                                                                                                                                                                                               endorsed by FIHRRST on April 6, 2015

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 25th September 2024                                                                     25th September 2021                                                                                                                                                                                                        25th September 2024                                                                     25th September 2021                                                                                                                                                                                                        25th September 2024                                                                     25th September 2021
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    AJA/22/BHRISC/0005                                                                        25th August 2022                                                                                                                                                                                                         AJA/22/BHRISC/0006                                                                        25th August 2022
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Certificate No.                                                        Date of Original Registration                                                                                                                                                                                                               Certificate No.                                                        Date of Original Registration




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         24th August 2025                                                                                    N.A                                                                                                                                                                                                            24th August 2025                                                                                    N.A
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Lillian Kallman                                                                     Date of Expiry                                                              Date of Re-Registration                                                                                                                            Lillian Kallman                                                                     Date of Expiry                                                              Date of Re-Registration                                                                                                                            Lillian Kallman
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Director                                                                                                                                                                                                                                                                                                           Director                                                                                                                                                                                                                                                                                                           Director


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         The partial reproduction of this document is not permitted.                                                                                                                                                                                                                                                        The partial reproduction of this document is not permitted.                                                                                                                                                                                                                                                        The partial reproduction of this document is not permitted.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Majapahit No. 10, Petojo Selatan, Jakarta Pusat 10160 – Indonesia                                                                                                                             This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Majapahit No. 10, Petojo Selatan, Jakarta Pusat 10160 – Indonesia                                                                                                                             This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Majapahit No. 10, Petojo Selatan, Jakarta Pusat 10160 – Indonesia

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      www.ajaindonesia.com                                                                                                                                                                                                                                                                                               www.ajaindonesia.com                                                                                                                                                                                                                                                                                               www.ajaindonesia.com



                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Lillian Kallman                                                                                                                                                                                                                                                                                                    Lillian Kallman
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Director                                                                                                                                                                                                                                                                                                           Director

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            The partial reproduction of this document is not permitted.                                                                                                                                                                                                                                                        The partial reproduction of this document is not permitted.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Daan Mogot Raya No. 119, Komplek Ruko Aldiron, Blok A17-18, Duri Kepa,                                                                                                                        This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Daan Mogot Raya No. 119, Komplek Ruko Aldiron, Blok A17-18, Duri Kepa,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Kebon Jeruk, Jakarta Barat, DKI Jakarta 11510 - Indonesia                                                                                                                                                                                                                                                          Kebon Jeruk, Jakarta Barat, DKI Jakarta 11510 - Indonesia

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        www.ajaindonesia.com                                                                                                                                                                                                                                                                                               www.ajaindonesia.com




                          ISO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    BHRISC
    (International Organization for Standardization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             (Business and Human Rights International
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Standard for Certification)


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     CERTIFICATE
                Certificate Number: SGS-RSPO/PC18-00015                                                                                                                                                                                                                                                                                                                                        Certificate Number: SGS-RSPO/PC18-00017                                                                                                                                                                                                                                                                                                                       CU-RSPO SCC-873703
                ID18/04407                                                                                                                                                                                                                                                                                                                                                                     ID18/04574
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              Based on an audit according to the requirements stated in the RSPO Supply Chain Certification Systems, version February
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              2020 and a signed contract, Control Union (Malaysia) Sdn Bhd herewith certifies that the facility(s) listed below are found
                PT. Sawit Sumbermas Sarana - Sulung Mill                                                                                                                                                                                                                                                                                                                                       PT. Kalimantan Sawit Abadi - Natai Baru Mill
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               to be in compliance with the RSPO Supply Chain Certification Standard, version February 2020 This guarantees that the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               criteria for processing RSPO certified palm oil products through one or more of the supply chain models as stated in the
                RSPO Membership Number: NA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     RSPO Supply Chain Certification Systems have been met.
                RSPO Registered Parent Company: PT Sawit Sumbermas Sarana
                RSPO Number Parent Company: 1-0111-07-000-00                                                                                                                                                                                                                                                                                                                                   RSPO Membership Number: 1-0111-07-000-00                                                                                                                                                                                                                                                                  Name certified company                                                 PT MITRA MENDAWAI SEJATI – SUAYAP KERNEL CRUSHING PLANT
                                                                                                                                                                                                                                                                                                                                                                                               RSPO Registered Parent Company: PT. Sawit Sumbermas Sarana                                                                                                                                                                                                                                                Full address certified company                                         DESA UMPANG, KECAMATAN ARUT SELATAN, KABUPATEN
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                KOTAWARINGIN BARAT, PROVINCE OF KALIMANTAN TENGAH,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                INDONESIA.
                Address:
                Sulung Village, Arut Selatan Sub-district, Kotawaringin Barat District, Kalimantan Tengah Province – Indonesia.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          RSPO number (if applicable)                                            -
                                                                                                                                                                                                                                                                                                                                                                                               Address:
                                                                                                                                                                                                                                                                                                                                                                                               Natai Baru Village, Arut Selatan Sub-district, Kotawaringin Barat District, Kalimantan Tengah Province 74361 – Indonesia                                                                                                                                                                                  Other sites certified                                                      yes    no
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         RSPO registered parent company (if                                     PT Sawit Sumbermas Sarana Tbk
                has been assessed and certified as meeting the requirements of
                                                                                                                                                                                                                                                                                                                                                                                               has been assessed and certified as meeting the requirements of                                                                                                                                                                                                                                            applicable)
                Indonesia National Interpretation of RSPO Principles                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     RSPO member number parent company                                      1-0111-07-000-00
                                                                                                                                                                                                                                                                                                                                                                                               Indonesia National Interpretation of RSPO Principles
                and Criteria for Sustainable Palm Oil Production 2018
                                                                                                                                                                                                                                                                                                                                                                                               and Criteria for Sustainable Palm Oil Production 2018                                                                                                                                                                                                                                                    Scope of Certification
                [20 April 2020]
                                                                                                                                                                                                                                                                                                                                                                                               [20 April 2020]                                                                                                                                                                                                                                                                                          Receiving and processing RSPO certified PK and sales of RSPO certified CPKO and PKE under module C (mass balance)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Certificate Start Date                            15/11/2022


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Certificate of Registration
                This guarantees that the criteria for processing RSPO certified oil palm products with the supply chain models of
                Mass Balance as stated in the RSPO Supply Chain Certification System have been met.                                                                                                                                                                                                                                                                                            This guarantees that the criteria for processing RSPO certified oil palm products with the supply chain models of                                                                                                                                                                                          Certificate Expiration Date                       14/11/2027
                                                                                                                                                                                                                                                                                                                                                                                               Mass Balance as stated in the RSPO Principles and Criteria System have been met.                                                                                                                                                                                                                           Date of first RSPO certification                  15/11/2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Certificate number                                 CU-RSPO SCC-873703
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Supply chain model                                       Identity Preserved (IP)
                This certificate is valid from 19 March 2023 until 18 March 2028 and remains valid subject to satisfactory surveillance audits.
                                                                                                                                                                                                                                                                                                                                                                                               This certificate is valid from 06 December 2023 until 05 December 2028 and remains valid subject to satisfactory surveillance audits.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Segregated (SG)                                                           PRODUCTION AND MANAGEMENT SYSTEM
                                                                                                                                                                                                                                                                                                                                                                                               Issue 02. Certified since 06 December 2018
                Issue 1. Certified since 19 March 2013                                                                                                                                                                                                                                                                                                                                         Date of Certificate Issue: 19 January 2024                                                                                                                                                                                                                                                                                                                          Mass Balance (MB)
                Date of Certificate Issue: 17 May 2023                                                                                                                                                                                                                                                                                                                                         Certified activities performed by additional sites are listed on subsequent pages
                Certified activities performed by additional sites are listed on subsequent pages                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Authorised signatory name                                                                              Issued by          This is to certify that
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Dayangku Mazrianah                                                                                     Control Union (Malaysia) Sdn Bhd
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Date of issue: 08-12-2022                                                                              B-3-1 Block B, Pusat Perniagaan Prima Klang,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Company Name                                                             PT Mirza Pratama Putra
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Jalan Kota/KS 1,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 41000 Klang,      Management Unit Name                                                     Sumber Cahaya Palm Oil Mill
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Selangor,         Management Unit Location                                                 Desa Sumber Cahaya, Kecamatan Belantikan Raya, Kebupaten Lamandau,
                                                                                                                                                                                                                                                                                                                                                                                               Authorised by                                                                                                                                                                                                                                                                                              On behalf of the Managing Director                                                                     MALAYSIA                                                                                   74663 Kalimantan Tengah, Indonesia.
                Authorised by                                                                                                                                                                                                                                                                                                                                                                  Waras Putri Andrianti                                                                                                                                                                                                                                                                                      Authorised signature                                                                                   0060-3-33771600/1700/1277
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   RSPO Registered Parent Company                                           PT Sawit Sumbermas Sarana, Tbk
                Waras Andrianti                                                                                                                                                                                                                                                                                                                                                                KN Director
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 certifications@controlunion.com
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            RSPO Membership number                                          1-0111-07-000-00
                PT SGS Indonesia                                                                                                                                                                                                                                                                                                                                                               PT SGS Indonesia
                The Garden Centre 2nd Floor, Cilandak Commercial Estate, Jl. Raya Cilandak KKO, Jakarta 12560, Indonesia                                                                                                                                                                                                                                                                       The Garden Centre 2nd Floor, Cilandak Commercial Estate, Jl. Raya Cilandak KKO, Jakarta 12560, Indonesia
                t +6221 2978 0600 - www.sgs.com                                                                                                                                                                                                                                                                                                                                                t +6221 2978 0600 - www.sgs.com                                                                                                                                                                                                                                                                                                                                                                                              Certificate
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Control Union (Malaysia) Sdn Bhd is accredited by Assurance Services International for certification against voluntary sustainability        Number
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     standards for scope                  RSPO 759455
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               of RSPO Supply Chain Certification on 05-11-2014 (ASI-ACC-069). This certificate including the annex remains the property of Control Union (Malaysia)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Sdn Bhd and can be withdrawn in case of terminations as mentioned in the licensee contract, or in case changes or deviations of the above-mentioned
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       ata occur. The licensee is obliged to inform Control Union (Malaysia) Sdn Bhd immediately of any changes in the aboveOperates    a Production
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                mentioned   data.      and Management System which complies with the requirements of Indonesia National Interpretation 2020 of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Only an original and signed certificate is valid.                      RSPO P&C for Sustainable Palm Oil Production 2018 ; with supply chain Mass Balance module for the following scope:

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Production of Sustainable Crude Palm Oil (CPO) and Palm Kernel (PK)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             This certificate is in force until further notice, provided that the licensee mentioned in this certificate continues meeting the RSPO
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             P&C and certification requirements and the conditions as laid down in the licensee contract with BSI Services Malaysia Sdn. Bhd.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Based on the annual inspections that BSI Services Malaysia Sdn. Bhd. shall conduct this certificate is updated and kept in force.

                This document is an authentic electronic certificate for Client’ business purposes use only. Printed version of the electronic certificate are permitted and                                                                                                                                                                                                                   This document is an authentic electronic certificate for Client’ business purposes use only. Printed version of the electronic certificate are permitted and will
                will be considered as a copy. This document is issued by the Company subject to SGS General Conditions of certification services available on Terms                                                                                                                                                                                                                            be considered as a copy. This document is issued by the Company subject to SGS General Conditions of certification services available on Terms and                                                                                                                                                                                                                                                                                                 Issued by                                           BSI Services Malaysia Sdn. Bhd.
                and Conditions | SGS. Attention is drawn to he limitation of liability, indemnification and jurisdictional clauses contained therein. This document is                                                                                                                                                                                                                         Conditions | SGS. Attention is rawn to the limitation of liability, indemnification and jurisdictional clauses contained therein. This document is copyright
                copyright protected and any unauthorized alteration, forgery or falsification of the content or appearance of this document is unlawful.                                                                                                                                                                                                                                       protected and any unauthorized alteration, forgery or falsification of the content or appearance of this document is unlawful.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Authorised Signature on Behalf
                Page 1 / 2                                                                                                                                                                                                                                                                                                                                                                     Page 1 / 2
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  of BSI
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Certificate version: C873703CU-RSPO SCC-01.2022                                                                                                       RSPO 8-0025-06-100-00                              Todd Redwood, Global Food and Retail Supply Chain Operations and
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Authorised Signatory Name
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Compliance Director


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Original Registration Date: 10/08/2023                                                                Effective Date: 10/08/2023
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Latest Revision Date: 10/08/2023                                                                      Expiry Date: 09/08/2028




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             8-0159-15-100-00




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         This certificate was issued electronically, remains the property of BSI Services Malaysia Sdn. Bhd. and is bound by the conditions of contract.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Printed copies can be validated by calling telephone +603 9212 9638. Further clarifications regarding the scope of this certificate and the applicability of RSPO
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Principle & Criteria: 2018 requirements may be obtained by consulting the organization. This certificate is valid only if the provided original copies are in complete
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         set. The British Standards Institution is incorporated by Royal Charter. BSI Services Malaysia Sdn. Bhd. Suite 29.01 Level 29, The Gardens North Tower, Mid Valley
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         City, Lingkaran Syed Putra 59200 Kuala Lumpur, Malaysia, Member of the BSI Group of Companies
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         BSI Services Malaysia Sdn. Bhd. is ISO/IEC 17021-1 and ISO/IEC 17065 accredited; and RSPO Accredited (ASI-ACC-67) since 31/10/2014.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         PF506 Revision 13 (Jul 2022)                                                                                                                  Page 1 of 2




                                                                                                                                                                                                               100% RSPO (Roundtable of Sustainable Palm Oil)


                                                                                                                                                                                                                                    SERTIFIKAT ISPO                                                                                                                                                                    SERTIFIKAT ISPO                                                                                                                                                                                                                                                                         SERTIFIKAT ISPO
                                                                                                                              .                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             .




                                                  Menyatakan bahwa Sistem Sertifikasi                                                                                                                                                                  Sertifikat ini diberikan kepada :                                                                                                                                                         Sertifikat ini diberikan kepada :                                                                                                                                                                                                                                                       Sertifikat ini diberikan kepada :                                                                                                                                                                                                                       Menyatakan bahwa Sistem Sertifikasi
                                                  Kelapa Sawit Berkelanjutan Indonesia                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Kelapa Sawit Berkelanjutan Indonesia
                                                                                                                                                                                                                         PT MITRA MENDAWAI SEJATI                                                                                                                                                  PT KALIMANTAN SAWIT ABADI                                                                                                                                                                                                                                                       PT SAWIT SUMBERMAS SARANA
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Alamat :
                                                                              PT Mirza Pratama Putra                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    PT Menteng Kencana Mas
                                                                                                                                                                                                                                                                                                                                                                                            Alamat :
                                                                                                                                                                                                                Alamat :
                                                                                                                                                                                                                                                                                                                                                                                            Head Office                         : Jl. H. Udan Said No 47 Pangkalan Bun, Kelurahan Baru,                                                                                                                                                                                            Head Office                           :    Jl. H. Udan Said No 47 Pangkalan Bun, Kelurahan Baru,
                                                                                                                                                                                                                Head Office                 :   Jl. H. Udan Said No 47 Pangkalan Bun, Kelurahan Baru,
                                                                                                                                                                                                                                                                                                                                                                                                                                  Kecamatan      Arut Selatan, Kabupaten Kotawaringin Barat                                                                                                                                                                                                                                   Kecamatan Arut Selatan, Kabupaten Kotawaringin Barat
                                                                                                                                                                                                                                                Kecamatan Arut Selatan, Kabupaten Kotawaringin Barat
                                                                                                                                                                                                                                                                                                                                                                                                                                  Provinsi Kalimantan Tengah 74113                                                                                                                                                                                                                                                            Provinsi Kalimantan Tengah 74113
                                                                                                                                                                                                                                                Provinsi Kalimantan Tengah 74113
                                                      Telah dinilai oleh PT AJA Sertifikasi Indonesia dan teregistrasi terhadap persyaratan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Telah dinilai oleh PT AJA Sertifikasi Indonesia dan teregistrasi terhadap persyaratan
                                                                                                                                                                                                                                                                                                                                                                                            Site Office                         : Desa Natai Baru Kecamatan Arut Selatan dan Desa Rungun                                                                                                                                                                                           Site Office                           : Desa Sulung dan Desa Natai Baru, Rangda, Rungun
                                                                                                                                                                                                                Site Office                 :   Desa Umpang, Kecamatan Arut Selatan, Kabupaten
                                                                                                                                                                                                                                                                                                                                                                                                                                  Kecamatan Kotawaringin Lama, Kabupaten Kotawaringin                                                                                                                                                                                                                                      Kondang,    Kecamatan        Arut   Selatan,  Kabupaten
                                                                            ISPO (Indonesian Sustainable Palm Oil)                                                                                                                              Kotawaringin Barat, Propinsi Kalimantan Tengah
                                                                                                                                                                                                                                                                                                                                                                                                                                  Barat, Provinsi Kalimantan Tengah                                                                                                                                                                                                                                                        Kotawaringin Barat, Provinsi Kalimantan Tengah                                                                                                                                                                                                                                                  ISPO (Indonesian Sustainable Palm Oil)
                                                                         PERMENTAN No. 38 Tahun 2020 – Lampiran 1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       PERMENTAN No. 38 Tahun 2020 – Lampiran 1
                                                                                                                                                                                                                Telah dilakukan penilaian dan dinyatakan memenuhi persyaratan dalam                                                                                                                                                                                                                                                                                                                                                                                                 Telah dilakukan penilaian dan dinyatakan memenuhi persyaratan dalam
                                                                                                                                                                                                                Peraturan Menteri Pertanian Nomor 38 Tahun 2020 Tentang Penyelenggaraan                                                                                                     Telah dilakukan penilaian dan dinyatakan memenuhi persyaratan dalam
                                                                                                                                                                                                                                                                                                                                                                                            Peraturan Menteri Pertanian Nomor 38 Tahun 2020 Tentang Penyelenggaraan                                                                                                                                                                                                                 Peraturan Menteri Pertanian Nomor 38 Tahun 2020 Tentang Penyelenggaraan
                                                                                                                                                                                                                Sertifikasi Perkebunan Kelapa Sawit berkelanjutan Indonesia (ISPO) –
                                                                                                                                                                                                                                                                                                                                                                                            Sertifikasi Perkebunan Kelapa Sawit berkelanjutan Indonesia (ISPO) –                                                                                                                                                                                                                    Sertifikasi Perkebunan Kelapa Sawit berkelanjutan Indonesia (ISPO) –
                                         Nomor Sertifikat: AJAINDO/ISPO-IN/049/VII/2022                                                                                                                         Lampiran I                                                                                                                                                                                                                                                                                                                                                                                                                                                          Lampiran I                                                                                                                                                                                                                                                                                          Nomor Sertifikat: AJAINDO/ISPO-IN/048/VII/2022
                                                                                                                                                                                                                                                                                                                                                                                            Lampiran I
                                                                                                                                                                                                               Unit yang disertifikasi :                                                                                                                                                                                                                                                                                                                                                                                                                                          Unit yang disertifikasi :
                                         Tanggal Penerbitan Sertifikat: 31/07/2022                                                                                                                                                                                                                                                                                                         Unit yang disertifikasi :                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Tanggal Penerbitan Sertifikat: 31/07/2022
                                                                                                                                                                                                               Kebun             : 2 (Dua) Kebun PT Mitra Mendawai Sejati seluas 8.921,38 Ha                                                                                                                                                                                                                                                                                                                                                                                      Kebun                    : 8 (Delapan) Kebun PT Sawit Sumbermas Sarana Seluas
                                                                                                                                                                                                                                   di Desa Umpang, Kecamatan Arut Selatan, Kabupaten                                                                                                       Kebun                  : 2 (Dua) Kebun PT Kalimantan Sawit Abadi seluas 4.442,76 Ha
                                         Tanggal Berakhirnya Sertifikat: 30/07/2027                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          16.984,82 Ha di Desa Sulung, Desa Kondang, Desa Rungun,                                                                                                                                                                                                                    Tanggal Berakhirnya Sertifikat: 30/07/2027
                                                                                                                                                                                                                                   Kotawaringin Barat, Provinsi Kalimantan Tengah                                                                                                                                  di Desa Natai Baru, Kecamatan Arut Selatan dan Desa Rungun,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Desa Rangda dan Desa Natai Baru, Kecamatan Arut Selatan,
                                                                                                                                                                                                                                                                                                                                                                                                                    Kecamatan Kotawaringin Lama, Kabupaten Kotawaringin Barat,
                                         Tanggal Re-Registrasi Sertifikat: N.A                                                                                                                                 Pabrik            : 1 (Satu) Pabrik dengan Kapasitas 60 Ton TBS/Jam di Desa Umpang,                                                                                                                                                                                                                                                                                                                                                                                                           Kabupaten Kotawaringin Barat, Provinsi Kalimantan Tengah                                                                                                                                                                                                                   Tanggal Re-Registrasi Sertifikat: N.A
                                                                                                                                                                                                                                                                                                                                                                                                                   Provinsi Kalimantan Tengah
                                                                                                                                                                                                                                   Kecamatan Arut Selatan, Kabupaten Kotawaringin Barat, Provinsi                                                                                                                                                                                                                                                                                                                                                                                 Pabrik                   : 2 (Dua) Pabrik dengan Kapasitas 90 Ton TBS/Jam di Desa Sulung
                                                                                                                                                                                                                                   Kalimantan Tengah                                                                                                                                       Pabrik                 : 1 (Satu) Pabrik dengan Kapasitas 90 Ton TBS/Jam di Desa Natai Baru,
                                         Tanggal Pembaharuan Sertifikat: N.A                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 dan Desa Rangda, Kecamatan Arut Selatan, Kabupaten                                                                                                                                                                                                                         Tanggal Pembaharuan Sertifikat: N.A
                                                                                                                                                                                                                                                                                                                                                                                                                    Kecamatan Arut Selatan, Kabupaten Kotawaringin Barat, Provinsi
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Kotawaringin Barat, Provinsi Kalimantan Tengah
                                                                                                                                                                                                               Model Rantai Pasok : Massbalance                                                                                                                                                                     Kalimantan Tengah
                                         Tidak diizinkan memperbanyak dokumen ini.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Model Rantai Pasok : Massbalance                                                                                                                                                                                                                                                                      Tidak diizinkan memperbanyak dokumen ini.
                                         Sertifikat ini adalah milik PT AJA Sertifikasi Indonesia dan harus dikembalikan jika diminta                                                                                                                                                                                                                                                      Model Rantai Pasok : Mass Balance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Sertifikat ini adalah milik PT AJA Sertifikasi Indonesia dan harus dikembalikan jika diminta



                                                                                                                                                                                                               Tanggal Penerbitan Sertifikat : 15 Desember 2022                               Nomor Sertifikat : SPO.22041.TSI
                                                                                                                                                                                                                                                                                                                                                                                           Tanggal Penerbitan Sertifikat : 15 Desember 2022                                                            Nomor Sertifikat : SPO.22040.TSI
                                                                                                                                                                                                               Tanggal Berakhir Sertifikat                 : 14 Desember 2027                                                                                                                                                                                                                                                                                                                                                                                                     Tanggal Penerbitan Sertifikat : 15 Desember 2022                                                         Nomor Sertifikat : SPO.22042.TSI
                                                                                                                                                                                                                                                                                                                                                                                           Tanggal Berakhir Sertifikat                                : 14 Desember 2027
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Tanggal Berakhir Sertifikat                                 : 14 Desember 2027
                                                                                                             _______________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       _______________________
                                                                                                                    Lillian Ann Kallman                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Lillian Ann Kallman
                                                                                                  Presiden DIrektur PT AJA Sertifikasi Indonesia                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Presiden DIrektur PT AJA Sertifikasi Indonesia




                                                                                                                                                                                                                                                                                                  SERTIFIKATISPO                                                                                                                                                                                                                                                                                                                                   SERTIFIKATISPO
                                                                                                                                                                                                                  Nungky Awang Chandra                                                                                                                                                        Nungky Awang Chandra                                                                                                                                                                                                                                                                     Nungky Awang Chandra
                                                                                                                                                                                                                         Direktur Utama                                                                                                                                                             Direktur Utama                                                                                                                                                                                                                                                                            Direktur Utama
                                                       LSISPO-014-IDN                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 LSISPO-014-IDN

                                                                                                                                                                                                               Sertifikat dapat diperiksa secara online : 021-74775110 atau www.tsicertification.com atau Email : info@tsicertification.co.id                                              Sertifikat dapat diperiksa secara online : 021-74775110 atau www.tsicertification.com atau Email : info@tsicertification.co.id                                                                                                                                                         Sertifikat dapat diperiksa secara online : 021-74775110 atau www.tsicertification.com atau Email : info@tsicertification.co.id
                                          PT AJA Sertifikasi Indonesia, Jl. Daan Mogot Raya No. 119, Komplek Ruko Aldiron, Blok A17-18, Duri Kepa, Kebon Jeruk, Jakarta Barat, DKI Jakarta 11510 - Indonesia   PT TSI Sertifikasi Internasional – Ad Premiere, Lantai 16 Jl. TB Simatupang Nomor 5, Kelurahan Ragunan, Kecamatan Pasar                                                     PT TSI Sertifikasi Internasional – Ad Premiere, Lantai 16 Jl. TB Simatupang Nomor 5, Kelurahan Ragunan, Kecamatan Pasar                                                                                                                                                                PT TSI Sertifikasi Internasional – Ad Premiere, Lantai 16 Jl. TB Simatupang Nomor 5, Kelurahan Ragunan, Kecamatan Pasar                                                                                                                                                                                PT AJA Sertifikasi Indonesia, Jl. Daan Mogot Raya No. 119, Komplek Ruko Aldiron, Blok A17-18, Duri Kepa, Kebon Jeruk, Jakarta Barat, DKI Jakarta 11510 - Indonesia
                                                                                                                  www.ajaindonesia.com                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         www.ajaindonesia.com
                                                                                                                                                                                                                                                       Minggu, Jakarta Selatan 12550, DKI Jakarta                                                                                                                                                Minggu, Jakarta Selatan 12550, DKI Jakarta                                                                                                                                                                                                                                              Minggu, Jakarta Selatan 12550, DKI Jakarta
                                  AJA/TMPL-014 Rev5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              AJA/TMPL-014 Rev5
                                                                                                                                                                                                                 1/2                                                                                                              F-CM-14 Rev.4
                                                                                                                                                                                                                                                                                                           Sertifikat ini diberikan kepada                                                   1/2                                                                                                                                                         F-CM-14 Rev.4                                                                                                  1/3 ini diberikan kepada
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Sertifikat                                                                                                                                                                F-CM-14 Rev.4




                                                                                                                                                                                                                                                                                             PT. SAWIT MULTI UTAMA                                                                                                                                                                                                                                                                                                                     PT. TANJUNG SAWIT ABADI
                                                                                                                                                                                                                                                                                                                          Alamat Kantor Pusat :                                                                                                                                                                                                                                                                                                                                     Alamat Kantor Pusat :
                                                                                                                                                                                                                                                Jalan Haji Udan Said. No. 47, Kec. Arut Selatan Kabupaten Kotawaringin Barat, Provinsi Kalimantan Tengah, Indonesia                                                                                                                                                                                                               Jalan Haji Udan Said. No. 47, Kec. Arut Selatan Kabupaten Kotawaringin Barat, Provinsi Kalimantan Tengah, Indonesia
                                                                                                                                                                                                                                                       Telah Memenuhi Peraturan Menteri Pertanian Nomor 11/Permentan/OT.140/3/2015                                                                                                                                                                                                                                                     Telah Memenuhi Peraturan Menteri Pertanian Nomor 11/Permentan/OT.140/3/2015
                                                                                                                                                                                                                                                                                            Tentang                                                                                                                                                                                                                                                                                                                         Tentang
                                                                                                                                                                                                                                                Sistem Sertifikasi Kelapa Sawit Berkelanjutan Indonesia (Indonesian Sustainable Palm Oil/ISPO)                                                                                                                                                                                                                                  Sistem Sertifikasi Kelapa Sawit Berkelanjutan Indonesia (Indonesian Sustainable Palm Oil/ISPO)
                                                                                                                                                                                                                                                                            Melalui Skema Penilaian Sertifikasi Mutu                                                                                                                                                                                                                                                                                        Melalui Skema Penilaian Sertifikasi Mutu
                                                                                                                                                                                                                                                                                   Unit yang disertifikasi:                                                                                                                                                                                                                                                                                                             Unit yang disertifikasi:
                                                                                                                                                                                                                                                   Kebun: Estate Nanga Kiu, Estate Merambang, Estate Sepondam & Estate Batu Tunggal                                                                                                                                                                                                                                                                  Kebun: Estate Malata, Estate Nanuah & Estate Sungai Bulik
                                                                                                                                                                                                                                                                     Pabrik: Pabrik Minyak Kelapa Sawit Nanga Kiu                                                                                                                                                                                                                                                                                            Pabrik: Pabrik Minyak Kelapa Sawit Malata
                                                                                                                                                                                                                       Desa Nangakoring, Desa Sungkup, Desa Sepondam, Desa Pedongatan, Desa Merambang, Kec. Bulik Timur & Kec. Mentobi Raya, Kab. Lamandau, Provinsi                                                                                                                                                                                                 Desa Sungkup, Desa Malata, Desa Nanuah, Desa Topalang, Desa Batu Ampar, Kec. Bulik Timur & Kec. Mentobi Raya, Kab. Lamandau,
                                                                                                                                                                                                                                                                              Kalimantan Tengah, Indonesia                                                                                                                                                                                                                                                                                                                                                         Provinsi Kalimantan Tengah, Indonesia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                            Nomor Sertifikat         : SGS-ID-ISPO-0041
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Nomor Sertifikat                     : SGS-ID-ISPO-0042
                                                                                                                                                                                                                                                                                                                                                            Ditetapkan Tanggal       : 12 Agustus 2020                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Ditetapkan Tanggal                         : 12 Agustus 2020
                                                                                                                                                                                                                                                                                                                                                          Berakhir Tanggal         : 11 Agustus 2025
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Berakhir Tanggal                           : 11 Agustus 2025
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                           : SGS-ID-ISPO-0033                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  : SGS-ID-ISPO-0033
                                                                                                                                                                                                                                                                                                                              JOHNNY KOE                                                                                                                                                                                                                                                                                                                                                  JOHNNY KOE
                                                                                                                                                                                                                                                                                                        Certification Business Enhancement Manager              Ditetapkan Tanggal                                                                                                                                                                                                                                                                     Certification Business Enhancement Manager
                                                                                                                                                                                                                                                                                                                      PT. SGS Indonesia                                                                                                                                                                                                                                                                                                                              PT. SGS Indonesia                        Ditetapkan Tanggal
                                                                                                                                                                                                                                                                                         The Garden Center 2nd Floor, Jl. Raya Cilandak KKO, Jakarta 12560, Indonesia                                                                                                                                                                                                                                                                   The Garden Center 2nd Floor, Jl. Raya Cilandak KKO, Jakarta 12560, Indonesia
                                                                                                                                                                                                                                                                                                        Tel. +6221 29780600; Fax. +6221 29780678                : 12 Agustus 2020                                                                                                                                                                                                                                                                      Tel. +6221 29780600; Fax. +6221 29780678               : 12 Agustus 2020
                                                                                                                                                                                                                                                                                                                      LS-P&K-007-ISPO                                                                                                                                                                                                                                                                                                                                LS-P&K-007-ISPO

                                                                                                                                                                                                                                                                                                                                                           Berakhir Tanggal                                                                                                                                                                                                                                                                                                                                                                                     Berakhir Tanggal
                                                                                                                                                                                                                 www.SGS.co.id                                                                                                                                             WHEN YOU NEED TO BE SURE                                                                                                                                            www.SGS.co.id                                                                                                                                                                                                                      WHEN YOU NEED TO BE SURE
                                                                                                                                                                                                                                                                                                                                                            : 11 Agustus 2025                                                                                                                                                                                                                                                                                                                                                                                     : 11 Agustus 2025
                                                                                                                                                                                                                                                                                                                                                            




                                                                                                                                                                                                                                        100% ISPO (Indonesia Sustainable Palm Oil)



                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        7
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Laporan Tahunan 2023 Annual Report
Page 8
    NILAI-NILAI PERUSAHAAN SSMS
    SSMS COMPANY VALUES




               CARE FOR THE                       CARE FOR THE       CARE FOR THE                CARE FOR THE
                 COMPANY                            PEOPLE           ENVIRONMENT               NATION, INDONESIA




    PENCAPAIAN TERBAIK SSMS DI TAHUN 2023
    BEST ACHIEVEMENT OF SSMS IN YEAR 2023




                                   Penjualan                             Laba Usaha
                                   Sales                                 Operating Profit

                                   Rp
                                        10,70            Triliun
                                                         Trillion
                                                                         Rp
                                                                               1,20                 Triliun
                                                                                                    Trillion



                        40%                                         28%



                                   Laba Tahun Berjalan                   Laba Per Saham Dasar
                                   Current Year Profit                   Basic Earnings Per Share

                                   Rp
                                            518          Miliar
                                                         Billion
                                                                         Rp
                                                                              192,9
                        21%                                         21%



                                   Aset                                  Ekuitas
                                   Assets                                Equity

                                   Rp
                                        11,81            Triliun
                                                         Trillion
                                                                         Rp
                                                                               1,99                 Triliun
                                                                                                    Trillion



                          1%                                        6%


8 Laporan Tahunan 2023 Annual Report
    PT SAWIT SUMBERMAS SARANA TBK.
Page 9
MOMENTUM BISNIS SSMS
SSMS BUSINESS MOMENTUM

SSMS telah mengembangkan bisnis hulunya selama bertahun-                             SSMS has grown its upstream business over the years, whilst
tahun, sekaligus mencapai beberapa tonggak sejarah dalam                             achieving several groundbreaking milestones on operating
kinerja operasional. Perseroan saat ini sedang dalam proses                          performance. The Company is presently in the process of
restrukturisasi untuk mengkonsolidasikan bisnis hilirnya agar                        restructuring, to consolidate its downstream business to become
menjadi pemain perkebunan terintegrasi terkemuka di Indonesia.                       the leading integrated plantations player in Indonesia.




                                                                                                      Integrasi Hilir
                                                                                                      Proses restrukturisasi kelompok
                            Pemegang Saham        Pemegang Saham
          Masyarakat
                             Non Pengendali          Pengendali
                                                                             Masyarakat               pemegang saham utama SSMS
            Public                                                             Public
                             Non Controlling         Controlling                                      dan CBUT untuk mengintegrasikan
                              Shareholders          Shareholders
           29,15%                                                              20%                    bisnis perkebunan hulu dan hilir
                             PT Putra Borneo         PT Citra                                         guna meningkatkan keselarasan
                               Agro Lestari        Borneo Indah
                                                                                                      operasional dan efisiensi secara
                                 9,61%               61,24%                                           keseluruhan.

                                                                                                      Downstream Integration
                                                                                                      Restructuring process for major
                                                                                                      shareholding group of SSMS and
                         Sawit Sumbermas Sarana
                                                                                                      CBUT to inegrate the upstream and
                                                                                                      downstream plantation business
                                                                                                      to improve overal operational
                                78,2%
                                                                                                      alignment and efficiencies.




                         Citra Borneo Utama Tbk                        Citra Borneo Utama Tbk




                               2022                                                                             2023
                    Penandatanganan perjanjian dengan Bank Sindikasi                                  - Pelunasan obligasi global pada saat jatuh tempo
                    untuk melakukan pembelian kembali (buy back)                                      - Akuisisi CBUT menjadi pemegang saham
                    sebagian obligasi global (global bond)                                              mayoritas
                                                                                                      - 100% full RSPO dan ISPO untuk perkebunan dan
                    Signing of an agreement with a Syndicated Bank to buy                               PKS di segmen hulu
                    back some of global bond.
                                                                                                      - ⁠Fully payout global bond at maturity
                                                                                                      - ⁠Acquired CBUT becomes majority shareholders
                                                                                                      - 100% full RSPO and ISPO for estates and POM in
                                                                                                         upstream


                               2018                                                                             2015
                    Penerbitan Obligasi Global                                                        Merger dan Akuisisi
                    SSMS menerbitkan obligasi global senilai USD300                                   Mengakuisisi 4 (empat) perkebunan
                    juta dan mendirikan anak perusahaan (SSMS                                         yaitu: PT Menteng Kencana Mas, PT Mirza
                    Plantation International Pte.Ltd.) sehubungan dengan                              Pratama Putra, PT Tanjung Sawit Abadi, dan
                    penerbitan obligasi tersebut.                                                     PT Sawit Multi Utama.

                    Global Bonds Issue                                                                M&A
                    SSMS issued global bonds worth USD300 million                                     Acquired 4 (four) plantations, namely: PT
                    and established-based subsidiary (SSMS Plantation                                 Menteng Kencana Mas, PT Mirza Pratama
                    International Pte.Ltd.) in relation to the bond issue.                            Putra, PT Tanjung Sawit Abadi, and PT Sawit
                                                                                                      Multi Utama.




                               1995                                                                             2013
                    Penggabungan                                                                      Penawaran Umum Perdana
                    SSMS didirikan pada tanggal 22 November 1995 di                                   Perseroan tercatat di Bursa Efek Indonesia
                    Pangkalan Bun, Kalimantan Tengah                                                  (BEI) pada tanggal 12 Desember 2013

                    Incoporation                                                                      Intial Public Offering
                    SSMS was established on November 22, 1995 in                                      The Company was listed on Indonesia Stock
                    Pangkalan Bun, Central Kalimantan                                                 Exchange (IDX) on December 12, 2013



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                                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                Laporan Tahunan 2023 Annual Report
Page 10
      KEUNGGULAN KOMPETITIF SSMS
      SSMS COMPETITIVE ADVANTAGE




               Pertumbuhan produksi yang didukung oleh profil     Luas lahan belum tertanam yang signifikan untuk
                        tanaman yang masih muda                   mendukung penanaman baru dan pertumbuhan
                                                                      produksi TBS di masa yang akan datang
                 Production growth supported by young plants
                                                                    Lands which haven’t been planted significantly
                                                                  support new planting and FFB production growth
                                                                                    in the future




              Hubungan yang baik dengan masyarakat setempat       Margin yang tinggi didukung oleh hasil produksi
                     di daerah operasional Perseroan               yang tinggi, lokasi yang strategis dan metode
                                                                               penanaman yang baik
                 Good relationship with local people around the
                         Company’s operational areas              High margin supported by high amount of yields,
                                                                    strategic location and good planting method




                     Pelaksanaan operasional usaha yang              Tim manajemen dan Dewan Komisaris yang
                      memperhatikan aspek Lingkungan,                           berpengalaman.
                          Sosial dan Tata Kelola (LST)
                   Implementation of business operations by         Experienced Management team and Board of
               considering Environmental, Social and Governance                  Commissioners
                                 (ESG) aspects




10 Laporan Tahunan 2023 Annual Report
      PT SAWIT SUMBERMAS SARANA TBK.
Page 11
DAFTAR ISI
TABLE OF CONTENT

  2    Sanggahan dan Batasan Tanggung Jawab   8    Nilai-Nilai Perusahaan SSMS
       Disclaimer and Boundaries                   SSMS Company Values

  2    Tentang Laporan Tahunan 2023           8    Pencapaian Terbaik SSMS di Tahun 2023
       About the 2023 Annual Report                Best Achievement of SSMS in Year 2023

  4    Kesinambungan Tema                     9    Momentum Bisnis SSMS
       Continuity Theme                            SSMS Business Momentum

  6    Sekilas Tentang Perusahaan             10   Keunggulan Kompetitif SSMS
       Company Overview                            SSMS Competitive Advantage

  7    Komitmen Keberlanjutan SSMS
       SSMS Sustainability Commitment




       KILAS KINERJA 2023                          LAPORAN MANAJEMEN
       2023 PERFORMANCE HIGHLIGHT                  MANAGEMENT REPORT
  16   Ikhtisar Kinerja Keuangan              42   Laporan Dewan Komisaris
       Financial Performance Highlights            Board of Commissioners Report

  18   Grafik Kinerja Keuangan                48   Laporan Direksi
       Chart of Financial Performance              Board of Directors Report

  20   Ikhtisar Operasional                   58   Pernyataan Tanggung Jawab Dewan Komisaris atas Laporan
       Operational Highlights                      Tahunan 2023
                                                   Statement of Responsibilities of the Board of Commissioners
  22   Ikhtisar Saham
                                                   for 2023 Annual Report
       Share Highlights
                                              59   Pernyataan Tanggung Jawab Direksi atas Laporan Tahunan
  26   Penghargaan Dan Sertifikasi
                                                   2023
       Awards and Certifications
                                                   Statement of Responsibilities of the Board of directors for 2023
  32   Kilas Peristiwa 2023                        Annual Report
       2023 Event Highlights




                                              67   Nilai-Nilai Perusahaan
                                                   Corporate Values

                                              68   Bidang Usaha
                                                   Line of Business

                                              72   Wilayah Operasional
                                                   Operational Area

                                              75   Keanggotaan Asosiasi
                                                   Association Membership

                                              76   Struktur Organisasi
                                                   Organizational Structure
       PROFIL PERUSAHAAN                      78   Profil Dewan Komisaris
       COMPANY PROFILE                             Profile of Board of Commissioners
  62   Informasi dan Data Perusahaan          84   Profil Direksi
       Company Information and Data                Profile of Board of Directors
  64   Riwayat Singkat Perusahaan             90   Perubahan Susunan Direksi Dan Dewan Komisaris Selama
       Brief History of the Company                Tahun Buku 2023
  66   Visi - Misi Perusahaan                      Change In Structure of the Board of Directors and Board of
       Company Vision – Mission                    Commissioners In the 2023 Fiscal Year




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                                                                                   PT SAWIT SUMBERMAS SARANA TBK.
                                                                                         Laporan Tahunan 2023 Annual Report
Page 12
         90      Profil Sumber Daya Manusia                                     106   Informasi Entitas Anak dan/atau Entitas Asosiasi
                 Human Resources Profile
                                                                                      Information on Subsidiary and/or Associated Entity
         93      Kebijakan Dan Strategi Sumber Daya Manusia
                                                                                108   Profil Entitas Anak dan Asosiasi
                 Human Resources Policies and Strategies
                                                                                      Profile of Subsidiary Entities And Associated
         95      Program Pengembangan Sumber Daya Manusia
                                                                                110   Kronologi Pencatatan Saham
                 Program of Human Resources Development
                                                                                      Chronology of Share Listing
         99      Kebijakan Kesehatan dan Keselamatan Kerja
                                                                                111   Kronologi Obligasi dan Efek Lainnya
                 Occupational Health and Safety Policies
                                                                                      Chronology of Bond Listing and Other Securities
        100      Informasi Pemegang Saham
                                                                                112   Informasi Kantor Akuntan Publik
                 Information of Shareholders
                                                                                      Public Accounting Firm Information
        103      Informasi Pemegang Saham Utama dan/atau Pengendali
                                                                                113   Lembaga/Profesi Penunjang Pasar Modal
                 Information of Major and/or Controlling Shareholders                 Capital Market Supporting Institutions/Professions

        105      Struktur Grup Perusahaan                                       114   Informasi Website Perseroan
                                                                                      Information on the Company Website
                 Company’s Group Structure




                                                                                143   Realisasi Investasi Barang Modal
                                                                                      Realization of Capital Goods Investment

                                                                                143   Perbandingan antara Target dengan Realisasi
                                                                                      Comparison between Target and Realization

                                                                                145   Informasi dan Fakta Material yang Terjadi Setelah Tanggal
                                                                                      Laporan Akuntan
                                                                                      Material Information and Facts That Occurred After the Date of
                                                                                      the Accountant’s Report

                                                                                145   Tinjauan Keuangan Lainnya
                                                                                      Other Financial Reviews

                 ANALISIS DAN PEMBAHASAN MANAJEMEN                              147   Informasi Material Mengenai Investasi, Ekspansi, Divestasi,
                 MANAGEMENT DISCUSSION AND ANALYSIS                                   Penggabungan Usaha, Akuisisi, dan/atau Restrukturisasi
                                                                                      Utang/Modal
         118     Tinjauan Perekonomian dan Industri                                   Material Information Regarding Investment, Expansion,
                 Overview of the Economy and Industry                                 Divestment, Merger, Acquisition, and/or Debt/Capital
        123      Strategi Bisnis                                                      Restructuring
                 Business Strategy                                              147   Informasi Transaksi Material yang Mengandung Benturan
        124      Aspek Pemasaran                                                      Kepentingan dan/atau Transaksi dengan Pihak Afiliasi/Pihak
                 Marketing Aspect                                                     Berelasi
                                                                                      Information on Material Transactions Containing Conflicts of
         125     Prospek Usaha                                                        Interest and/or Transactions with Affiliated Parties/Related
                 Business Prospect                                                    Parties
        127      Tinjauan Operasi Per Segmen Usaha                              150   Perubahan Peraturan Perundang-Undangan yang Berpengaruh
                 Review of Business Segments                                          Signifikan Terhadap Perusahaan
         135     Tinjauan Keuangan                                                    Changes to Laws and Regulations with a Significant Impact on
                 Financial Review                                                     the Company

        140      Kemampuan Membayar Utang dan Tingkat Kolektibilitas            150   Perubahan Kebijakan Akuntansi dan Dampaknya Terhadap
                 Piutang                                                              Perusahaan
                 Ability to Pay Debt and Receivable Collectability Rate               Changes in Accounting Policy and Their Impact on the
                                                                                      Company
        142      Struktur Modal dan Kebijakan Manajemen atas Struktur Modal
                 Capital Structure and Management Policy on Capital Structure   151   Informasi Kelangsungan Usaha
                                                                                      Business Continuity Information
        143      Ikatan yang Material untuk Investasi Barang Modal
                 Material Commitment for Capital Goods Investment




12 Laporan Tahunan 2023 Annual Report
      PT SAWIT SUMBERMAS SARANA TBK.
Page 13
                                                                     223   Sistem Pengendalian Internal
                                                                           Internal Control System

                                                                     227   Auditor Eksternal
                                                                           External Auditor

                                                                     228   Manajemen Risiko
                                                                           Risk Management

                                                                     233   Perkara Hukum
                                                                           Legal Cases

                                                                     233   Sanksi Administratif
                                                                           Administrative Sanctions
      TATA KELOLA PERUSAHAAN                                         234   Kode Etik
      CORPORATE GOVERNANCE                                                 Code Of Conducts
154   Penerapan Tata Kelola Perusahaan yang Baik                     236   Sistem Pelaporan Pelanggaran
      Implementation of Good Corporate Governance                          Whistleblowing System
160   Rapat Umum Pemegang Saham (RUPS)                               238   Pengadaan Barang dan Jasa
      General Meeting of Shareholders (GMS)                                Procurement of Goods and Services
173   Dewan Komisaris                                                240   Kebijakan Anti Korupsi
      Board of Commissioners                                               Anti-Corruption Policies
183   Komisaris Independen                                           242   Pengendalian Gratifikasi
      Independent Commissioner                                             Gratification Control
185   Direksi                                                        244   Pencegahan Transaksi Orang Dalam
      Board of Directors                                                   Prevention Against Insider Transaction
194   Fungsi dan Prosedur Penetapan Nominasi dan REMUNERASI          244   Kebijakan Management and Employees’ Stock Option Plan
      Dewan Komisaris dan Direksi                                          (MSOP/ESOP)
      Functions and Procedures for Determination Nomination and            Policy of Management and Employees’ Stock Option Plan
      Remuneration of the Board of Commissioners and Directors             (MSOP/ESOP)
196   Keberagaman Komposisi Dewan Komisaris dan Direksi              244   Kebijakan Kepemilikan Saham oleh Anggota Dewan Komisaris
      Diversity In Composition of Board of Commissioners and Board         dan Direksi dan Pelaksanaannya
      of Directors                                                         Policy on Share Ownership by Members of the Board of
197   Hubungan Afiliasi                                                    Commissioners and Directors and Its Implementation
      Affiliated Relationship                                        245   Akses Informasi dan Data Perusahaan Data
199   Komite-Komite Penunjang Dewan Komisaris                              Access to Company’s Information and Data
      Supporting Committees of Board of Commissioners                246   Penerapan Aspek dan Prinsip Tata Kelola Perusahaan Sesuai
208   Sekretaris Perusahaan                                                Ketentuan Otoritas Jasa Keuangan (OJK)
      Corporate Secretary                                                  Implementation of Aspects and Principles of Corporate
                                                                           Governance According to Financial Services Authority (OJK)
211   Divisi Keberlanjutan                                                 Regulations
      Sustainability Division

216   Audit Internal
      Internal Audit




                                                                     255   Program CSR 2023: Tumbuh Kokoh Berkelanjutan Bersama
                                                                           Masyarakat
                                                                           2023 CSR Programs: Growing Stronger and Sustainable with
                                                                           Community

                                                                     256   Program Sosial Budaya
                                                                           Socio-Cultural Programs

                                                                     258   Program Pendidikan
                                                                           Education Programs

                                                                     260   Program Kesehatan
                                                                           Health Programs

      TANGGUNG JAWAB SOSIAL PERUSAHAAN                               262   Program Lingkungan Hidup
      CORPORATE SOCIAL RESPONSIBILITY                                      Environmental Programs

252   Komitmen SSMS Pada Pelaksanaan Tanggung Jawab Sosial           263   Program Infrastruktur
      Perusahaan                                                           Infrastructure Programs
      SSMS’s Commitment To Implementing Corporate Social             265   Program Pemberdayaan Masyarakat
      Responsibility                                                       Community Empowerment Programs
254   Visi dan Misi CSR                                              273   Pengakuan Eksternal Terhadap Program CSR Perseroan
      CSR Vision and Mission                                               External Recognition of Company’s CSR Programs




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01




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                                                 KILAS KINERJA 2023
                                                  2023 PERFORMANCE HIGHLIGHT   01




KILAS KINERJA
                         01
         2023
2023 PERFORMANCE HIGHLIGHT




    SSMS mencatatkan pertumbuhan kinerja yang solid di
    mana Perseroan berhasil membukukan pendapatan
    sebesar Rp10,7 triliun yang mencerminkan komitmen
    SSMS dalam menjaga keberlanjutan operasional bisnis
    Perusahaan.

    SSMS recorded a solid performance growth where the
    Company managed to record revenue of IDR10.7 trillion
    reflecting SSMS’s commitment to maintaining the
    sustainability of the Company’s business operations.

                                                                               15
                                   PT SAWIT SUMBERMAS SARANA TBK.
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01

      IKHTISAR KINERJA KEUANGAN
      FINANCIAL PERFORMANCE HIGHLIGHTS

      Laporan Posisi Keuangan Konsolidasian                                                    Consolidated Statement of Financial Position

       (Disajikan dalam miliar rupiah kecuali dinyatakan lain / Expressed in billions of rupiah, unless otherwise stated)
                                                                                                                                                             Pertumbuhan
                                          Uraian                                                                                                           Growth 2023-2022
                                                                                        2023                 2022*                  2021**
                                        Description                                                                                                      Nominal
                                                                                                                                                                             %
                                                                                                                                                         Amount
       Aset Lancar
                                                                                           5.028                 4.639                   4.636                 389                 8,39
       Current Assets
       Aset Tidak Lancar
                                                                                               6.782             6.498                   6.069                 284                  4,37
       Non-Current Assets
       Jumlah Aset
                                                                                           11.810                11.137                 10.705                 673                 6,05
       Total Assets
       Liabilitas Jangka Pendek
                                                                                               4.755                 4.172               2.705                 583                13,96
       Current Liabilities
       Liabilitas Jangka Panjang
                                                                                           5.066                 4.920                   6.545                 146                 2,96
       Non-Current Liabilities
       Jumlah Liabilitas
                                                                                           9.820                 9.092                   9.250                 728                 8,01
       Total Liabilities
       Jumlah Ekuitas
                                                                                           1.990                 2.045                   1.456                 (54)               (2,67)
       Total Equity
       Ekuitas yang Dapat Diatribusikan kepada
       Equity attributable to:
       Pemilik Entitas Induk – Netto
                                                                                               1.751             2.006                   1.423                (256)              (12,76)
       The Parent Entity – net
       Kepentingan Non-Pengendali
                                                                                                239                    38                    33                201               528,95
       Non-Controlling Interests
       *) terdapat penyajian kembali | restatement
       **) Berdasarkan data konsolidasi inhouse | Based on in-house consolidated data



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

       (Disajikan dalam miliar rupiah kecuali dinyatakan lain / Expressed in billions of rupiah, unless otherwise stated)
                                                                                                                                                               Pertumbuhan
                                           Uraian                                                                                                            Growth 2023-2022
                                                                                          2023                 2022*                   2021**
                                         Description                                                                                                       Nominal
                                                                                                                                                                              %
                                                                                                                                                           Amount
       Pendapatan dari kontrak dengan pelanggan
                                                                                                  10.703                11.240                  9.264               (537)          (4,78)
       Revenue from contracts with customers
       Beban Pokok Penjualan
                                                                                                   7.904                6.936                   5.199                 968          13,96
       Cost of Sales
       Laba Bruto
                                                                                                   2.799                4.304                4.065                 (1.505)        (34,97)
       Gross Profit
       Laba Usaha
                                                                                                   1.196                2.626                   2.018              (1.430)        (54,44)
       Operating Profit
       Laba Sebelum Pajak Penghasilan Badan
                                                                                                       552               1.965                  1.959              (1.413)        (71,90)
       Profit Before Corporate Income Tax
       Pajak Penghasilan Badan
                                                                                                   (208)                 (490)                  (365)                 282         (57,55)
       Corporate Income Tax
       Laba Tahun Berjalan setelah efek penyesuaian proforma
                                                                                                       344               1.475                  1.594              (1.131)       (76,68)
       Profit for The Year after effect of proforma adjustment
       Efek penyesuaian proforma*
                                                                                                       174                   373                  (67)              (199)         (53,30)
       Effect of proforma adjustment*
       Laba Tahun Berjalan sebelum efek penyesuaian proforma
                                                                                                       518               1.848                  1.527              (1.330)        (71,95)
       Profit for the Year before effect of proforma adjustment
       Penghasilan Komprehensif Lain Setelah Pajak
                                                                                                       (3)                    18                   16                 (21)       (116,67)
       Other Comprehensive Income, Net of Tax
       Total Laba Komprehensif Tahun Berjalan
                                                                                                       516              1.866                   1.543              (1.350)        (72,37)
       Total Comprehensive Income for The Year
       Efek penyesuaian proforma atas penghasilan (rugi) komprehensif lain*
                                                                                                        11                   (43)                 (12)                 54        (125,48)
       Effect of proforma adjustment from other comprehensive income (loss)*
       Total Laba Komprehensif Tahun Berjalan setelah penyesuaian proforma
                                                                                                       527               1.823                  1.531              (1.296)        (71,11)
       Total Comprehensive Income for the Year after proforma adjustment
       Laba Tahun Berjalan yang dapat Diatribusikan kepada:
       Profit for The Year Attributable to:
          Pemilik Entitas Induk
                                                                                                       512               1.837                  1.516              (1.325)        (72,12)
          Owners of the parent



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                                                                                                                                                         KILAS KINERJA 2023
                                                                                                                                                          2023 PERFORMANCE HIGHLIGHT   01

(Disajikan dalam miliar rupiah kecuali dinyatakan lain / Expressed in billions of rupiah, unless otherwise stated)
                                                                                                                                                    Pertumbuhan
                                       Uraian                                                                                                     Growth 2023-2022
                                                                                 2023                2022*              2021**
                                     Description                                                                                                Nominal
                                                                                                                                                                         %
                                                                                                                                                Amount
   Kepentingan Non-Pengendali
                                                                                              6                  11                   11                      (5)           (43,61)
   Non-Controlling interests
Laba Komprehensif Tahun Berjalan yang dapat Diatribusikan kepada:
Comprehensive Income for The Year Attributable to:
   Pemilik Entitas Induk
                                                                                            521              1.814               1.517                  (1.293)             (71,28)
   Owners of the parent
   Kepentingan Non-Pengendali
                                                                                              6                  9                    14                      (3)           (35,92)
   Non-Controlling interests
Laba per Saham (nilai penuh)
                                                                                          53,78             192,90              159,11                    (139)              (72,12)
Earnings per Share (Full Amount)
                                                                                                                              *) terdapat penyajian kembali | restatement




Laporan Arus Kas                                                                   Statements of Cash Flows

(Disajikan dalam miliar rupiah kecuali dinyatakan lain / Expressed in billions of rupiah, unless otherwise stated)
                                                                                                                                                    Pertumbuhan
                                       Uraian                                                                                                     Growth 2023-2022
                                                                                 2023               2022*              2021**
                                     Description                                                                                               Nominal
                                                                                                                                                                        %
                                                                                                                                               Amount
Arus Kas dari Aktivitas Operasi
                                                                                          594               2.442            1.114,6                   (1.848)              (75,68)
Cash Flows from Operating Activities
Arus Kas dari Aktivitas Investasi
                                                                                        (1.451)              (710)           (794,6)                     (741)              104,37
Cash Flows from Investing Activities
Arus Kas dari Aktivitas Pendanaan
                                                                                          288              (1.912)           (396,1)                    2.200             (115,06)
Cash Flows from Financing Activities
Kenaikan (Penurunan) Neto Kas dan Setara Kas
                                                                                         (569)              (180)               (76,2)                   (389)               216,11
Net Increase (Decrease) in Cash and Cash Equivalents
Dampak Neto Perubahan Nilai Tukar atas Kas dan Setara Kas
                                                                                          (0,9)                (2)                   1,7                      1                (55)
Net Impact of Exchange Rate Changes on Cash and Cash Equivalents
Kas dan Setara Kas Awal Tahun
                                                                                        1.807               1.985            1.907,8                     (178)               (8,97)
Cash and Bank at Beginning of the Year
Kas dan Setara Kas Akhir Tahun
                                                                                         1.237              1.807            1.833,3                     (570)              (31,52)
Cash and Bank at End of the Year
*) terdapat penyajian kembali | restatement
**) Berdasarkan data konsolidasi inhouse | Based on in-house consolidated data



Rasio-Rasio Keuangan Penting                                                       Significant Financial Ratios

                                              Uraian                                              Satuan
                                                                                                                      2023                     2022*                2021**
                                            Description                                            Unit
Rasio Likuiditas
Liquidity Ratio
Rasio lancar
                                                                                                    %                        106                        111                     171
Current Ratio
Rasio Solvabilitas
Solvability Ratio
Rasio liabilitas terhadap jumlah aset
                                                                                                    %                         83                        82                       86
Debt to Asset Ratio (DAR)
Rasio liabilitas terhadap ekuitas
                                                                                                    %                        494                       445                     635
Debt to Equity Ratio (DER)
Rasio Profabilitas
Profitability Ratio
Rasio margin laba kotor
Gross Profit Margin (GPM)
Rasio margin laba usaha
                                                                                                    %                           11                      23                       22
Operating Profit Margin (OPM)
Rasio margin laba bersih
                                                                                                    %                        4,8                       16,4                    16,5
Net Profit Margin (NPM)
Rasio margin laba kotor
                                                                                                    %                         26                        38                       44
Gross Profit Margin (GPM)
Rasio laba (rugi) terhadap jumlah aset
                                                                                                    %                            4                      17                       14
Return on Assets (ROA)
Rasio laba (rugi) terhadap ekuitas
                                                                                                    %                         26                        90                      105
Return on Equity (ROE)
Rasio laba (rugi) terhadap pendapatan/penjualan
                                                                                                    %                           11                      23                       22
Return on Sales (ROS)
*) terdapat penyajian kembali | restatement
**) Berdasarkan data konsolidasi inhouse | Based on in-house consolidated data




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01

      GRAFIK KINERJA KEUANGAN
      CHART OF FINANCIAL PERFORMANCE


                                        (dalam miliar Rupiah)                                               (dalam miliar Rupiah)
                                            (in billion Rupiah)                                                 (in billion Rupiah)



                      Pendapatan dari kontrak                                            Laba Tahun Berjalan setelah
                      dengan pelanggan                                                   efek penyesuaian proforma
                      Revenue from contracts with                                        Profit for The Year after effect of
                      customers                                                          proforma adjustment



       20                                                                   9.264   20                                                         1.594
       21                                                                           21

       20                                                                  11.240   20                                                         1.475
       22                                                                           22

       20                                                                  10.703   20                                                          344
       23                                                                           23


                                               (dalam miliar Rupiah)                                                      (dalam Rupiah)
                                                     (in billion Rupiah)                                                        (in Rupiah)



                      Laba Bruto                                                         Laba Per Saham Dasar
                      Gross Profit                                                       Earnings Per Share



       20                                                                   4.065   20                                                        159,11
       21                                                                           21

       20                                                                   4.304   20                                                        192,90
       22                                                                           22

       20                                                                   2.799   20                                                         53,78
       23                                                                           23




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                                                                                                KILAS KINERJA 2023
                                                                                                  2023 PERFORMANCE HIGHLIGHT   01




                   (dalam miliar Rupiah)                                                  (persen)
                       (in billion Rupiah)                                                (percent)



     Aset                                                  Rasio Lancar
     Assets                                                Current Ratio



20                                           10.705   20                                                            171
21                                                    21

20                                           11.137   20                                                            111
22                                                    22

20                                           11.810   20                                                            106
23                                                    23



                   (dalam miliar Rupiah)                                                  (persen)
                       (in billion Rupiah)                                                (percent)



     Liabilitas                                            Rasio Liabilitas Terhadap Ekuitas
     Liabilities                                           Debt To Equity Ratio



20                                            9.250   20                                                            635
21                                                    21

20                                            9.092   20                                                            445
22                                                    22

20                                            9.820   20                                                            494
23                                                    23



                   (dalam miliar Rupiah)                                                  (persen)
                       (in billion Rupiah)                                                (percent)



     Ekuitas                                               Rasio Liabilitas Terhadap Aset
     Equity                                                Debt To Asset Ratio



20                                            1.456   20                                                             86
21                                                    21

20                                            2.045   20                                                             82
22                                                    22

20                                            1.990   20                                                             83
23                                                    23




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      IKHTISAR OPERASIONAL
      OPERATIONAL HIGHLIGHTS

                                             Uraian      Satuan
                                                                  2023           2022         2021*
                                           Description    Unit

       VOLUME PRODUKSI
       PRODUCTION VOLUME

       Tandan Buah Segar
       Fresh Fruit Bunches

          Tandan Buah Segar dari perkebunan inti
                                                          MT       1.723.170      1.862.561    1.575.092
          Fresh Fruit Bunches from nucleus estate

          Tandan Buah Segar dari perkebunan plasma
                                                          MT         94.226         82.960       72.396
          Fresh Fruit Bunches from plasma estate

          Tandan Buah Segar dari pihak ketiga
                                                          MT        571.063        439.293      424.330
          Fresh Fruit Bunches from third party

       Jumlah Produksi TBS
                                                          MT      2.345.131      2.278.821    2.024.020
       Total of FFB Productions



       Produk Hulu
       Upstream Products

          Minyak Kelapa Sawit
                                                          MT        518.819        508.094      444.720
          Crude Palm Oil

          Inti Sawit
                                                          MT         99.082         97.019       83.438
          Palm Krenel

          Minyak Inti Sawit
                                                          MT         22.327         18.726       22.360
          Palm Krenel Oil

       Jumlah Produksi hulu
                                                          MT       640.228         623.839      550.518
       Total Upstream Productions



       Produk Hilir
       Downstream Products

          RBDPO
                                                          MT        746.544        548.556      565.076
          (Refined Bleached Deodorized Palm Oil)

          RBDP Olein
                                                          MT       584.864        400.986       322.447
          (Refined Bleached Deodorized Palm Olein)

          RBDPS
                                                          MT        137.360         93.108        77.313
          (Refined Bleached Deodorized Palm Stearin)

          PFAD
                                                          MT         29.323         27.364        21.523
          (Palm Fatty Acid Distillate)

          CPKO
                                                          MT         24.998         30.765        9.896
          (Crude Palm Kernel Oil)

          PKE
                                                          MT         34.448         41.560        12.253
          (Palm Kernel Expeller)

       Total Produksi Hilir
                                                          MT      1.557.588      1.142.339    1.008.508
       Total Downstream Productions

       Jumlah Produksi
                                                          MT      2.197.816      1.766.178     1.559.026
       Total Productions



       PENJUALAN PRODUK
       PRODUCT SALES

          Minyak Kelapa Sawit
                                                          MT         24.935         97.519            0
          Crude Palm Oil

          Inti Sawit
                                                          MT             2.997       1.000        14.330
          Palm Krenel

          Minyak Inti Sawit
                                                          MT         22.450         18.000       23.600
          Palm Krenel Oil

          Tandan Buah Segar
                                                          MT         43.755        106.341       50.986
          Fresh Fruit Bunches




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                                                                                                                           KILAS KINERJA 2023
                                                                                                                            2023 PERFORMANCE HIGHLIGHT   01




                                           Uraian                                Satuan
                                                                                              2023              2022                 2021*
                                         Description                              Unit

  RBDPO
                                                                                   MT            23.282              70.552               179.501
  (Refined Bleached Deodorized Palm Oil)

  RBDP Olein
                                                                                   MT           570.918            384.912                333.951
  (Refined Bleached Deodorized Palm Olein)

  RBDPS
                                                                                   MT           142.907              78.851                 74.839
  (Refined Bleached Deodorized Palm Stearin)

  PFAD
                                                                                   MT             33.178            26.879                 22.498
  (Palm Fatty Acid Distillate)

  CPKO
                                                                                   MT            25.698              30.244                  9.010
  (Crude Palm Kernel Oil)

  PKE
                                                                                   MT             31.772            44.848                 12.000
  (Palm Kernel Expeller)

  Pillow Pack                                                                      MT                1.516            2.802                        0

Total Penjualan
                                                                                   MT           923.408            861.949                720.715
Total Sales



Penjualan
Sales

  Minyak Kelapa Sawit                                                             Rp-Juta
                                                                                                330.690           1.324.453                        0
  Crude Palm Oil                                                                IDR-Million

  Inti Sawit                                                                      Rp-Juta
                                                                                                 14.908                5.118               97.409
  Palm Krenel                                                                   IDR-Million

  Minyak Inti Sawit                                                               Rp-Juta
                                                                                                551.908            858.553                579.621
  Palm Krenel Oil                                                               IDR-Million

  Tandan Buah Segar                                                               Rp-Juta
                                                                                                 103.152           228.084                141.558
  Fresh Fruit Bunches                                                           IDR-Million

   RBDPO                                                                          Rp-Juta
                                                                                                 293.213          1.274.898             2.706.512
   (Refined Bleached Deodorized Palm Oil)                                       IDR-Million

   RBDP Olein                                                                     Rp-Juta
                                                                                               7.296.891         5.886.001             4.562.655
   (Refined Bleached Deodorized Palm Olein)                                     IDR-Million

   RBDPS                                                                          Rp-Juta
                                                                                               1.702.665          1.203.918               924.217
   (Refined Bleached Deodorized Palm Stearin)                                   IDR-Million

   PFAD                                                                           Rp-Juta
                                                                                                346.266            387.885                288.634
   (Palm Fatty Acid Distillate)                                                 IDR-Million

   PKE                                                                            Rp-Juta
                                                                                                 48.683              57.606                14.880
   (Palm Kernel Expeller)                                                       IDR-Million

                                                                                  Rp-Juta
   Pillow Pack                                                                                   15.036              40.703                        0
                                                                                IDR-Million

Total Penjualan                                                                   Rp-Juta
                                                                                              10.703.412        11.240.219              9.315.516
Total Sales                                                                     IDR-Million

*) Berdasarkan data konsolidasi inhouse | Based on in-house consolidated data




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01

      IKHTISAR SAHAM
      SHARE HIGHLIGHTS

      Informasi Kinerja Saham                                                         Share Performance Information

      Saham Perseroan diperdagangkan dengan kode saham “SSMS”                         The Company stocks are traded under ticker code “SSMS” on
      pada Bursa Efek Indonesia dan tercatat memiliki 9.525.000.000                   Indonesia Stock Exchange (IDX) with a total 9,525,000,000 shares.
      lembar saham. Pada tahun 2023, saham Perseroan menyentuh                        In 2023, the stocks were traded at its highest in the month of May
      level tertingginya pada bulan Mei 2023, yaitu di level Rp1.820 per              in 2023, reaching to IDR1,820 per share whereas the stocks hit its
      lembar saham, sementara saham Perseroan diperdagangkan                          lowest in December 2023, reaching to IDR935 per share. By the
      di level terendahnya di bulan Desember 2023 yaitu menyentuh                     end of 2023, SSMS share is owned by PT Citra Borneo Indah 61.24%,
      Rp935 per lembar saham. Hingga akhir tahun 2023 saham SSMS                      9.61% by PT Putra Borneo Agro Lestari, and 29.15% by public (each
      dimiliki oleh PT Citra Borneo Indah 61,24%, PT Putra Borneo Agro                bellow 5%). The following is the Company’s share information:
      Lestari sebesar 9,61%, dan masyarakat (masing-masing dibawah
      5%) sebesar 29,15%. Berikut informasi saham Perseroan:



                                                         Harga, Volume, Nilai dan Kapitalisasi Saham
                                                        Share Price, Volume, Value and Capitalization

                        Jumlah Saham                                        Pergerakan Harga Saham
                                                                             Shares Price Movement                                          Jumlah
                           Beredar        Kapitalisasi                                                                      Volume
                                                                                                                                          Saham yang
                           Number            Pasar           Harga                                                        Perdagangan
                                                                             Harga           Harga           Harga                      Diperdagangkan
          Periode         of Shares         Market         Pembukaan                                                         Trading
                                                                            Tertinggi      Terendah        Penutupan                      Total Shares
           Period        Outstanding     Caiptalization   Opening Price                                                      Volume
                                                                          Highest Price   Lowest Price    Closing Price                     Trading

                             Saham          Rp-Juta            Rp              Rp               Rp             Rp           Saham           Rp-Juta
                             Share        IDR-Million         IDR             IDR              IDR            IDR           Share         IDR-Million
      2023
      Triwulan I
                         9.525.000.000     15.775.781         1.625           1.750           1.560          1.690        649.241.600      1.075.306
      Quarter I
      Triwulan II
                         9.525.000.000    13.049.250          1.525           1.535           1.210           1.210       540.023.000       739.831
      Quarter II
      Triwulan III
                         9.525.000.000    11.430.000          1.230           1.275           1.110           1.185       576.311.900       691.574
      Quarter III
      Triwulan IV
                         9.525.000.000     9.608.343          1.000           1.055           935             1.045       570.832.100      575.826
      Quarter IV


      2022
      Triwulan I
                         9.525.000.000     10.144.125         1.130           1.220           1.065          1.065        565.880.600      602.663
      Quarter I
      Triwulan II
                         9.525.000.000     11.525.250         1.325           1.325           1.030           1.210       514.272.000      622.269
      Quarter II
      Triwulan III
                         9.525.000.000    12.334.875          1.405           1.410           1.255           1.295       478.039.900      619.062
      Quarter III
      Triwulan IV
                         9.525.000.000    14.001.750          1.515           1.605           1.400           1.470       892.614.300      1.312.143
      Quarter IV




22 Laporan Tahunan 2023 Annual Report
      PT SAWIT SUMBERMAS SARANA TBK.
Page 23
                                                                                                                            KILAS KINERJA 2023
                                                                                                                              2023 PERFORMANCE HIGHLIGHT   01




                                         Grafik Pergerakan Volume Perdagangan Saham
                                            Chart of Share Trading Volume Movement



500.000
                                                                                                              462.755
                                                                                                                                 484.895
400.000              373.824
          344.048
                                310.986              314.681             307.469                   340.845
300.000                                    263.047                                 270.988                    294.554
                                                               247.812
                                                                                             202.102
200.000              225.576                                   222.901   220.354
                                198.837              192.510
          173.285                          183.805                                 193.588                                       175.503
                                                                                             154.028               161.553
100.000


     0
          JANUARI    FEBRUARI    MARET       APRIL     MEI      JUNI      JULI     AGUSTUS   SEPTEMBER   OKTOBER   NOVEMBER      DESEMBER
          JANUARY    FEBRUARY    MARCH       APRIL     MAY      JUNE      JULY     AUGUST    SEPTEMBER   OCTOBER   NOVEMBER      DECEMBER




  2022        2023                                                                                                 Rp Ribu | IDR-Thousand




                                             Grafik Pergerakan Harga Pembukaan
                                              Chart of Opening Price Movement



  2.000
                                            1.690     1.710
                      1.595      1.625
                                                                1.525               1.505                                          1.515
  1.600    1.470                                                                              1.405                 1.400
                                                                                                          1.310
                                                                          1.220
                                 1.130
  1.200                                                         1.320
                                                                          1.210     1.195     1.230       1.185
                                                                                                                    1.150
                      1.005                 1.070     1.065                                                                        1.000
   800     965



   400


     0
          JANUARI    FEBRUARI    MARET       APRIL     MEI      JUNI      JULI     AGUSTUS   SEPTEMBER   OKTOBER   NOVEMBER      DESEMBER
          JANUARY    FEBRUARY    MARCH       APRIL     MAY      JUNE      JULY     AUGUST    SEPTEMBER   OCTOBER   NOVEMBER      DECEMBER




  2022        2023                                                                                                               Rupiah | IDR




                                                                                                                                                           23
                                                                                                              PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                   Laporan Tahunan 2023 Annual Report
Page 24
01

                                                            Grafik Pergerakan Harga Penutupan
                                                             Chart of Closing Price Movement



                2.000

                                                   1.618   1.637
                           1.575         1.556                                      1.505                                    1.515      1.470
                1.600                                              1.460
                                                                                             1.405                 1.390
                                                                                                       1.295
                                                                            1.210
                1.200                                              1.320
                                                                            1.210            1.230
                                         1.120                                      1.195               1.185      1.145
                                                   1.065   1.065                                                                        1.045
                           1.005                                                                                             1.015
                  800


                  400


                     0
                          JANUARI       FEBRUARI   MARET   APRIL    MEI     JUNI    JULI    AGUSTUS   SEPTEMBER   OKTOBER   NOVEMBER   DESEMBER
                          JANUARY       FEBRUARY   MARCH   APRIL    MAY     JUNE    JULY    AUGUST    SEPTEMBER   OCTOBER   NOVEMBER   DECEMBER




                2022            2023                                                                                                   Rupiah | IDR



                                                              Grafik Pergerakan Harga Terendah
                                                               Chart of Lowest Price Movement



                2.000

                                         1.535     1.560   1.530
                1.600
                           1.370                                                                                                        1.400
                                                                                            1.270                 1.285      1.320
                                                                   1.210   1.210                       1.255
                                                                                    1.135
                1.200
                                                                                    1.130   1.120      1.110      1.090
                                                   1.065   1.035           1.030                                             1.000
                                          955                      1.010
                  800       940                                                                                                          935



                  400


                     0
                          JANUARI       FEBRUARI   MARET   APRIL    MEI     JUNI    JULI    AGUSTUS   SEPTEMBER   OKTOBER   NOVEMBER   DESEMBER
                          JANUARY       FEBRUARY   MARCH   APRIL    MAY     JUNE    JULY    AUGUST    SEPTEMBER   OCTOBER   NOVEMBER   DECEMBER




                2022           2023                                                                                         Rp Ribu | IDR-Thousand



                                                              Grafik Pergerakan Harga Tertinggi
                                                              Chart of Highest Price Movement



                2.000                                              1.820
                                                   1.750   1.720
                           1.625         1.635                                                                                          1.605
                                                                            1.535            1.555                1.500      1.545
                                                                                    1.535
                1.600                                                                                  1.410


                1.200                                              1.320    1.325   1.320                          1.345
                                                                                            1.240      1.275
                                                   1.220   1.195                                                             1.155
                                         1.150
                           1.050                                                                                                        1.055
                  800


                  400


                     0
                          JANUARI       FEBRUARI   MARET   APRIL    MEI     JUNI    JULI    AGUSTUS   SEPTEMBER   OKTOBER   NOVEMBER   DESEMBER
                          JANUARY       FEBRUARY   MARCH   APRIL    MAY     JUNE    JULY    AUGUST    SEPTEMBER   OCTOBER   NOVEMBER   DECEMBER




                2022           2023                                                                                                    Rupiah | IDR




24 Laporan Tahunan 2023 Annual Report
      PT SAWIT SUMBERMAS SARANA TBK.
Page 25
                                                                                                                        KILAS KINERJA 2023
                                                                                                                         2023 PERFORMANCE HIGHLIGHT   01

Aksi Korporasi yang Berdampak pada Saham Perseroan                  Corporate Actions That Affect Company Shares

Sampai dengan akhir tahun 2023 SSMS tidak melakukan aksi            By the end of 2023, SSMS did not performed any corporate action
korporasi yang menyebabkan terjadinya perubahan pada saham,         that would have caused changes in shares in the form of stock
seperti aksi pemecahan saham (stock split), penggabungan            split, reverse stock, bonus stock, or change in par value of shares
saham (reverse stock), saham bonus, maupun penurunan nilai          in the 2 (two) last year (2022-2023).
nominal saham dalam 2 (dua) tahun terakhir (2022-2023).



Informasi Penghentian Sementara Perdagangan Saham                   Information on Share Supension and/or Delisting
(Supension) dan/atau Penghapusan Pencatatan Saham
(Delisting)

PT Sawit Sumbermas Sarana Tbk juga tidak mendapatkan                PT Sawit Sumbermas Sarana Tbk did not receive suspension and/
penghentian sementara dan/atau sanksi perdagangan saham             or stock trading sanctions as well as delisting from the relevant
serta penghapusan pencatatan saham dari otoritas terkait.           regulator.



Ikhtisar Obligasi, Sukuk atau Obligasi Konversi                     Bond, Sukuk or Convertible Bond Highlights

Pada tanggal 24 Januari 2018, Perseroan melalui anak Perusahaan,    On January 24, 2018, the Company by its subsidiary, SSMS
SSMS Plantation Holding Pte. Ltd., menerbitkan obligasi global      Plantation Holding Pte. Ltd., issued USD300 million global bonds
senilai USD300 juta dengan bunga 7,75% yang akan jatuh tempo        with interest at 7.75% that will be due on January 23, 2023. These 5
pada 23 Januari 2023. Obligasi ini dicatatkan dan diperdagangkan    (five) year bonds maturating are listed on the Singapore Exchange
di Singapore Exchange Securities dengan tenor 5 (lima) tahun.       Securities. However, at the beginning of 2023 the Company has
Namun pada awal tahun 2023, Perseroan telah melakukan               paid off the global bonds.
pelunasan obligasi global tersebut.



Informasi Sumber Pendanaan Lainnya                                  Information on Other Funding Sources

SSMS tidak memperoleh sumber pendanaan lain dari pihak mana         SSMS did not obtain other funding sources from any parties. Thus,
pun. Dengan demikian, tidak terdapat informasi terkait jumlah dan   there is no information regarding the amount and other funding
sumber pendanaan lainnya yang disajikan dalam laporan tahunan       sources will present in this annual report.
ini.




                                                                                                                                                      25
                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 26
01

      PENGHARGAAN DAN SERTIFIKASI
      AWARDS AND CERTIFICATIONS

                                                                       PENGHARGAAN 2023
                                                                          2023 AWARDS




                                        Tanggal | Date                                                                Tanggal | Date
                                          9 Juni 2023                                                                15 Agustus 2023
                                         June 9, 2023                                                                August 15, 2023

                          Nama Penghargaan | Name of Awards                                               Nama Penghargaan | Name of Awards
                              Penghargaan Zero Accident                                    Penghargaan Silver Champion Category of Economy Element – Bidang
                                 Zero Accident Award                                        Ekonomi Kreatif Berbasis Kearifan Lokal pada ajang Bisnis Indonesia
                                                                                                 Corporate Social Responsibility Awards (BISRA) tahun 2023
                         Pemberi Penghargaan | Awarded by                               Silver Champion Category of Economy Element – Creative Economy based
                Dinas Ketenagakerjaan dan Transmigrasi (Disnakertrans)                   on Local Wisdom on the Bisnis Indonesia Corporate Social Responsibility
                                Kalimantan Tengah                                                                  Awards (BISRA) 2023
                  Manpower and Transmigration Office (Disnakertrans)
                               of Central Kalimantan                                                       Pemberi Penghargaan | Awarded by
                                                                                                                Harian Bisnis Indonesia
                                                                                                                 Bisnis Indonesia Daily




                                                                              Tanggal | Date
                                                                            23 November 2023
                                                                            November 23, 2023

                                                                Nama Penghargaan | Name of Awards
                                                         Penghargaan sebagai Analyst’s Favorite in the Consumer
                                                             Non-Cyclicals Sector pada CSA Awards 2023.
                                                            Award as as Analyst’s Favorite in the Consumer
                                                              Non-Cyclicals Sector on CSA Awards 2023.

                                                                   Pemberi Penghargaan | Awarded by
                                                                 Asosiasi Analis Efek Indonesia (AAEI) dan
                                                               Certified Securities Analyst (CSA) Community
                                                         The Indonesian Securities Analysts Association (AAEI) and
                                                                   the Certified Securities Analyst (CSA)




26 Laporan Tahunan 2023 Annual Report
      PT SAWIT SUMBERMAS SARANA TBK.
Page 27
                                                                                                                                KILAS KINERJA 2023
                                                                                                                                 2023 PERFORMANCE HIGHLIGHT   01




                           Tanggal | Date                                                            Tanggal | Date
                        27-30 November 2023                                                       27-30 November 2023
                        November 27-30, 2023                                                      November 27-30, 2023

                 Nama Penghargaan | Name of Awards                                         Nama Penghargaan | Name of Awards
  Penghargaan TKMPN XXVII 2023 untuk predikat Gold melalui inovasi         Penghargaan TKMPN XXVII 2023 untuk predikat Platinum melalui inovasi
Meningkatkan Luas Areal Mekanisasi Dengan Menggunakan Spreader-Man           Meningkatkan Konsistensi Grading TBS Sumber Cahaya Mill dengan
 Award of the 2023 TKMPN XXVII for Gold predicate through innovation to                                Sistem Digital
           Improve Mechanization Area by using Spreader-Man               Award of the 2023 TKMPN XXVII for Platinum predicate through innovation
                                                                           to Improve Consistency of FFB Grading in Sumber Cahaya Mill by Digital
                  Pemberi Penghargaan | Awarded by                                                        System
                      Wahana Pengendali Mutu
         Asosiasi Manajemen Mutu dan Produktivitas Indonesia                                Pemberi Penghargaan | Awarded by
                                                                                                Wahana Pengendali Mutu
                                                                                   Asosiasi Manajemen Mutu dan Produktivitas Indonesia




                           Tanggal | Date                                                            Tanggal | Date
                        27-30 November 2023                                                       27-30 November 2023
                        November 27-30, 2023                                                      November 27-30, 2023

                 Nama Penghargaan | Name of Awards                                       Nama Penghargaan | Name of Awards
 Penghargaan TKMPN XXVII 2023 untuk predikat Platinum melalui inovasi             Penghargaan TKMPN XXVII 2023 untuk predikat sebagai
 Meningkatkan Nilai Tambah Spent Bleaching Earth (SBE) Menjadi Produk                            The Most Favorite Team
                     Pupuk Sakti (Pupuk Pellet Plus)                                 Award of the 2023 TKMPN XXVII for predicate as
Award of the 2023 TKMPN XXVII for Platinum predicate through innovation                          The Most Favorite Team
 to Improve the Added Value of Spent Bleaching Earth (SBE) into a Magiz
                 Fertilizer product (Pellet Plus Fertilizer)                                Pemberi Penghargaan | Awarded by
                                                                                                Wahana Pengendali Mutu
                  Pemberi Penghargaan | Awarded by                                 Asosiasi Manajemen Mutu dan Produktivitas Indonesia
                      Wahana Pengendali Mutu
         Asosiasi Manajemen Mutu dan Produktivitas Indonesia




                                                                                                                                                              27
                                                                                                                 PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                       Laporan Tahunan 2023 Annual Report
Page 28
01

                                                                                                                                                                                                                   RSPO (ROUNDTABLE OF SUSTAINABLE PALM OIL)




                         Certificate Number: SGS-RSPO/PC18-00015                                                                                                                                                                                                                                                                                                                                                                                       Certificate Number: SGS-RSPO/PC18-00017
                         ID18/04407                                                                                                                                                                                                                                                                                                                                                                                                                    ID18/04574

                         PT. Sawit Sumbermas Sarana - Sulung Mill                                                                                                                                                                                                                                                                                                                                                                                      PT. Kalimantan Sawit Abadi - Natai Baru Mill
                         RSPO Membership Number: NA
                         RSPO Registered Parent Company: PT Sawit Sumbermas Sarana
                         RSPO Number Parent Company: 1-0111-07-000-00                                                                                                                                                                                                                                                                                                                                                                                  RSPO Membership Number: 1-0111-07-000-00
                                                                                                                                                                                                                                                                                                                                                                                                                                                       RSPO Registered Parent Company: PT. Sawit Sumbermas Sarana

                         Address:
                         Sulung Village, Arut Selatan Sub-district, Kotawaringin Barat District, Kalimantan Tengah Province – Indonesia.                                                                                                                                                                                                                                                                                                               Address:
                                                                                                                                                                                                                                                                                                                                                                                                                                                       Natai Baru Village, Arut Selatan Sub-district, Kotawaringin Barat District, Kalimantan Tengah Province 74361 – Indonesia

                         has been assessed and certified as meeting the requirements of
                                                                                                                                                                                                                                                                                                                                                                                                                                                       has been assessed and certified as meeting the requirements of
                         Indonesia National Interpretation of RSPO Principles
                                                                                                                                                                                                                                                                                                                                                                                                                                                       Indonesia National Interpretation of RSPO Principles
                         and Criteria for Sustainable Palm Oil Production 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                       and Criteria for Sustainable Palm Oil Production 2018
                         [20 April 2020]
                                                                                                                                                                                                                                                                                                                                                                                                                                                       [20 April 2020]
                         This guarantees that the criteria for processing RSPO certified oil palm products with the supply chain models of
                         Mass Balance as stated in the RSPO Supply Chain Certification System have been met.                                                                                                                                                                                                                                                                                                                                           This guarantees that the criteria for processing RSPO certified oil palm products with the supply chain models of
                                                                                                                                                                                                                                                                                                                                                                                                                                                       Mass Balance as stated in the RSPO Principles and Criteria System have been met.


                                                                                                                                                                                                                                                                                                                                                                                                                                                       This certificate is valid from 06 December 2023 until 05 December 2028 and remains valid subject to satisfactory surveillance audits.
                         This certificate is valid from 19 March 2023 until 18 March 2028 and remains valid subject to satisfactory surveillance audits.                                                                                                                                                                                                                                                                                               Issue 02. Certified since 06 December 2018
                         Issue 1. Certified since 19 March 2013                                                                                                                                                                                                                                                                                                                                                                                        Date of Certificate Issue: 19 January 2024
                         Date of Certificate Issue: 17 May 2023                                                                                                                                                                                                                                                                                                                                                                                        Certified activities performed by additional sites are listed on subsequent pages
                         Certified activities performed by additional sites are listed on subsequent pages




                                                                                                                                                                                                                                                                                                                                                                                                                                                       Authorised by
                         Authorised by                                                                                                                                                                                                                                                                                                                                                                                                                 Waras Putri Andrianti
                         Waras Andrianti                                                                                                                                                                                                                                                                                                                                                                                                               KN Director

                         PT SGS Indonesia                                                                                                                                                                                                                                                                                                                                                                                                              PT SGS Indonesia
                         The Garden Centre 2nd Floor, Cilandak Commercial Estate, Jl. Raya Cilandak KKO, Jakarta 12560, Indonesia                                                                                                                                                                                                                                                                                                                      The Garden Centre 2nd Floor, Cilandak Commercial Estate, Jl. Raya Cilandak KKO, Jakarta 12560, Indonesia
                         t +6221 2978 0600 - www.sgs.com                                                                                                                                                                                                                                                                                                                                                                                               t +6221 2978 0600 - www.sgs.com




                         This document is an authentic electronic certificate for Client’ business purposes use only. Printed version of the electronic certificate are permitted and                                                                                                                                                                                                                                                                  This document is an authentic electronic certificate for Client’ business purposes use only. Printed version of the electronic certificate are permitted and will
                         will be considered as a copy. This document is issued by the Company subject to SGS General Conditions of certification services available on Terms                                                                                                                                                                                                                                                                           be considered as a copy. This document is issued by the Company subject to SGS General Conditions of certification services available on Terms and
                         and Conditions | SGS. Attention is drawn to the limitation of liability, indemnification and jurisdictional clauses contained therein. This document is                                                                                                                                                                                                                                                                       Conditions | SGS. Attention is rawn to the limitation of liability, indemnification and jurisdictional clauses contained therein. This document is copyright
                         copyright protected and any unauthorized alteration, forgery or falsification of the content or appearance of this document is unlawful.                                                                                                                                                                                                                                                                                      protected and any unauthorized alteration, forgery or falsification of the content or appearance of this document is unlawful.

                         Page 1 / 2                                                                                                                                                                                                                                                                                                                                                                                                                    Page 1 / 2




                                                     Penerbit | Issuer                                                                                                                                                                          Penerbit | Issuer                                                                                                                                                                                                                Penerbit | Issuer
                                                     PT SGS Indonesia                                                                                                                                                                        PT Mutu Agung Lestari                                                                                                                                                                                                               PT SGS Indonesia

                            Lingkup | Scope                                                                                                                                                                                                    Lingkup | Scope                                                                                                                                          Lingkup | Scope
             Pabrik Pengolahan Kelapa Sawit Sulung (PT SSS)                                                                                                                                                                    Pabrik Pengolahan Kelapa Sawit Selangkun (PT SSS)                                                                                                       Pabrik Pengolahan Kelapa Sawit Natai Baru (PT KSA)
                Sulung Palm Oil Processing Plant (PT SSS)                                                                                                                                                                         Selangkun Palm Oil Processing Plant (PT SSS)                                                                                                            Natai Baru Palm Oil Processing Plant (PT KSA)

                     Masa Berlaku | Validity Period                                                                                                                                                                                      Masa Berlaku | Validity Period                                                                                                                                                                      Masa Berlaku | Validity Period
                      19 Maret 2023 - 18 Maret 2028                                                                                                                                                                                      7 Januari 2022 – 6 Januari 2027                                                                                                                                                                   6 Desember 2018 - 19 Januari 2024
                     March 19, 2023 – March 18, 2028                                                                                                                                                                                    January 7, 2022 – January 6, 2027                                                                                                                                                                 December 6, 2018 – January 19, 2024




                                                                                                   CERTIFICATE
                                                                                         CU-RSPO SCC-873703
                        Based on an audit according to the requirements stated in the RSPO Supply Chain Certification Systems, version February
                        2020 and a signed contract, Control Union (Malaysia) Sdn Bhd herewith certifies that the facility(s) listed below are found
                         to be in compliance with the RSPO Supply Chain Certification Standard, version February 2020 This guarantees that the
                         criteria for processing RSPO certified palm oil products through one or more of the supply chain models as stated in the
                                                         RSPO Supply Chain Certification Systems have been met.

                                      Name certified company                                                   PT MITRA MENDAWAI SEJATI – SUAYAP KERNEL CRUSHING PLANT
                                      Full address certified company                                           DESA UMPANG, KECAMATAN ARUT SELATAN, KABUPATEN
                                                                                                               KOTAWARINGIN BARAT, PROVINCE OF KALIMANTAN TENGAH,
                                                                                                               INDONESIA.
                                      RSPO number (if applicable)                                              -
                                      Other sites certified                                                        yes    no
                                      RSPO registered parent company (if                                       PT Sawit Sumbermas Sarana Tbk
                                      applicable)
                                      RSPO member number parent company                                        1-0111-07-000-00

                                  Scope of Certification
                                  Receiving and processing RSPO certified PK and sales of RSPO certified CPKO and PKE under module C (mass balance)

                                      Certificate Start Date                            15/11/2022
                                      Certificate Expiration Date                       14/11/2027
                                      Date of first RSPO certification                  15/11/2017
                                      Certificate number                                 CU-RSPO SCC-873703
                                      Supply chain model                                       Identity Preserved (IP)
                                                                                               Segregated (SG)
                                                                                               Mass Balance (MB)

                                      Authorised signatory name                                                                                   Issued by
                                      Dayangku Mazrianah                                                                                          Control Union (Malaysia) Sdn Bhd
                                      Date of issue: 08-12-2022                                                                                   B-3-1 Block B, Pusat Perniagaan Prima Klang,
                                                                                                                                                  Jalan Kota/KS 1,
                                                                                                                                                  41000 Klang,
                                                                                                                                                  Selangor,
                                      On behalf of the Managing Director                                                                          MALAYSIA
                                      Authorised signature                                                                                        0060-3-33771600/1700/1277
                                                                                                                                                  certifications@controlunion.com


                         Control Union (Malaysia) Sdn Bhd is accredited by Assurance Services International for certification against voluntary sustainability standards for scope
                         of RSPO Supply Chain Certification on 05-11-2014 (ASI-ACC-069). This certificate including the annex remains the property of Control Union (Malaysia)
                         Sdn Bhd and can be withdrawn in case of terminations as mentioned in the licensee contract, or in case changes or deviations of the above-mentioned
                                 ata occur. The licensee is obliged to inform Control Union (Malaysia) Sdn Bhd immediately of any changes in the above mentioned data.
                                                                               Only an original and signed certificate is valid.




                        Certificate version: C873703CU-RSPO SCC-01.2022                                                                                                                 RSPO 8-0025-06-100-00




                                                       Penerbit | Issuer                                                                                                                                                                         Penerbit | Issuer                                                                                                                                                                                                               Penerbit | Issuer
                                                       PT Control Union                                                                                                                                                                          PT SGS Indonesia                                                                                                                                                                                                                PT SGS Indonesia

                           Lingkup | Scope                                                                                                                                                                                                      Lingkup | Scope                                                                                                                                                    Lingkup | Scope
            Pabrik Pengolahan Kelapa Inti Sawit (PKO) Suayap                                                                                                                                                                   Pabrik Pengolahan Kelapa Sawit Nanga Kiu (PT SMU)                                                                                                                    Pabrik Pengolahan Kelapa Sawit Malata (PT TSA)
                               (PT MMS)                                                                                                                                                                                           Nanga Kiu Palm Oil Processing Plant (PT SMU)                                                                                                                         Malata Palm Oil Processing Plant (PT TSA)
            Suayap Palm Kernel Oil Processing Plant (PT MMS)
                                                                                                                                                                                                                                          Masa Berlaku | Validity Period                                                                                                                                                                             Masa Berlaku | Validity Period
                     Masa Berlaku | Validity Period                                                                                                                                                                                        23 Juni 2020 - 22 Juni 2025                                                                                                                                                                                25 Juni 2020 - 24 Juni 2025
                 15 November 2022 - 14 November 2027                                                                                                                                                                                      June 23, 2020 – June 22, 2025                                                                                                                                                                              June 25, 2020 – June 24, 2025
                 November 15, 2022 – November 14, 2027




                                                                                                                                                                                                                                                                               Certificate of Registration
                                                                                                                                                                                                                                                                               PRODUCTION AND MANAGEMENT SYSTEM

                                                                                                                                                                                                                                                                               This is to certify that

                                                                                                                                                                                                                                                                              Company Name                                             PT Mirza Pratama Putra
                                                                                                                                                                                                                                                                              Management Unit Name                                     Sumber Cahaya Palm Oil Mill
                                                                                                                                                                                                                                                                              Management Unit Location                                 Desa Sumber Cahaya, Kecamatan Belantikan Raya, Kebupaten Lamandau,
                                                                                                                                                                                                                                                                                                                                       74663 Kalimantan Tengah, Indonesia.
                                                                                                                                                                                                                                                                              RSPO Registered Parent Company                           PT Sawit Sumbermas Sarana, Tbk
                                                                                                                                                                                                                                                                              RSPO Membership number                                   1-0111-07-000-00

                                                                                                                                                                                                                                                                               Certificate Number                                      RSPO 759455

                                                                                                                                                                                                                                                                               Operates a Production and Management System which complies with the requirements of Indonesia National Interpretation 2020 of
                                                                                                                                                                                                                                                                               RSPO P&C for Sustainable Palm Oil Production 2018 ; with supply chain Mass Balance module for the following scope:

                                                                                                                                                                                                                                                                                                     Production of Sustainable Crude Palm Oil (CPO) and Palm Kernel (PK)
                                                                                                                                                                                                                                                                               This certificate is in force until further notice, provided that the licensee mentioned in this certificate continues meeting the RSPO
                                                                                                                                                                                                                                                                               P&C and certification requirements and the conditions as laid down in the licensee contract with BSI Services Malaysia Sdn. Bhd.
                                                                                                                                                                                                                                                                               Based on the annual inspections that BSI Services Malaysia Sdn. Bhd. shall conduct this certificate is updated and kept in force.

                                                                                                                                                                                                                                                                                    Issued by                                    BSI Services Malaysia Sdn. Bhd.


                                                                                                                                                                                                                                                                                    Authorised Signature on Behalf
                                                                                                                                                                                                                                                                                    of BSI
                                                                                                                                                                                                                                                                                                                                 Todd Redwood, Global Food and Retail Supply Chain Operations and
                                                                                                                                                                                                                                                                                    Authorised Signatory Name
                                                                                                                                                                                                                                                                                                                                 Compliance Director


                                                                                                                                                                                                                                                                               Original Registration Date: 10/08/2023                                                     Effective Date: 10/08/2023
                                                                                                                                                                                                                                                                               Latest Revision Date: 10/08/2023                                                           Expiry Date: 09/08/2028




                                                                                                                                                                                                                                                                               8-0159-15-100-00




                                                                                                                                                                                                                                                                            This certificate was issued electronically, remains the property of BSI Services Malaysia Sdn. Bhd. and is bound by the conditions of contract.
                                                                                                                                                                                                                                                                            Printed copies can be validated by calling telephone +603 9212 9638. Further clarifications regarding the scope of this certificate and the applicability of RSPO
                                                                                                                                                                                                                                                                            Principle & Criteria: 2018 requirements may be obtained by consulting the organization. This certificate is valid only if the provided original copies are in complete
                                                                                                                                                                                                                                                                            set. The British Standards Institution is incorporated by Royal Charter. BSI Services Malaysia Sdn. Bhd. Suite 29.01 Level 29, The Gardens North Tower, Mid Valley
                                                                                                                                                                                                                                                                            City, Lingkaran Syed Putra 59200 Kuala Lumpur, Malaysia, Member of the BSI Group of Companies
                                                                                                                                                                                                                                                                            BSI Services Malaysia Sdn. Bhd. is ISO/IEC 17021-1 and ISO/IEC 17065 accredited; and RSPO Accredited (ASI-ACC-67) since 31/10/2014.
                                                                                                                                                                                                                                                                            PF506 Revision 13 (Jul 2022)                                                                                                                  Page 1 of 2




                                                                                                                                                                                                                   Penerbit | Issuer                                                                      Penerbit | Issuer
                                                                                                                                                                                                                PT Mutu Agung Lestari                                                                     PT BSI Indonesia

                                                                                                                                                                          Lingkup | Scope                                                                                    Lingkup | Scope
                                                                                                                                                           Pabrik Pengolahan Kelapa Sawit Suayap (PT MMS)                                                     Pabrik Pengolahan Kelapa Sawit Sumber Cahaya
                                                                                                                                                              Suayap Palm Oil Processing Plant (PT MMS)                                                                         (PT MKM)
                                                                                                                                                                                                                                                             Sumber Cahaya Palm Oil Processing Plant (PT MKM)
                                                                                                                                                                                                             Masa Berlaku | Validity Period
                                                                                                                                                                                                           16 Februari 2016 – 26 Oktober 2026                          Masa Berlaku | Validity Period
                                                                                                                                                                                                          February 16, 2016 – October 26, 2026                       10 Agustus 2023 – 09 Agustus 2028
                                                                                                                                                                                                                                                                      August 10, 2023 – August 9, 2028




28 Laporan Tahunan 2023 Annual Report
      PT SAWIT SUMBERMAS SARANA TBK.
Page 29
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            KILAS KINERJA 2023
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       2023 PERFORMANCE HIGHLIGHT   01

                                                                                                                                                                                                                                                                          RSPO INDEPENDENT SMALLHOLDER




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Accredited by ASI for
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         certification against
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  voluntary sustainability standards


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     This is to certify that


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     BUM DESA BERKAH MULYA JAYA MEKAR MULYA
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     RSPO Membership Number 1-0434-23-000-00

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Scope of Certification
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     BUM Desa Berkah Mulya Jaya Mekar Mulya
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Located at Lamandau District, Kalimantan Tengah Province,Indonesia

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Meets the Requirements of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     RSPO Independent Smallholder Standard Indonesia National Interpretation for the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Production of Suistainable Palm Oil 2020 Endorsed by the RSPO Board of Governors on 14
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     February 2022 with Millestone B – Supply Chain Identity Preserved

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Office Address :
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Mekar Mulya Village, Lamandau District,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Kalimantan Tengah Province, Indonesia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Phone: (+62) 857 8766 2844




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Certificate Registration
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     MUTU-RSPO/186
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Ir. H. Arifin Lambaga, MSE, President Director
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Date of Initial Registration
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Signed on behalf of MUTU International
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     July 14th, 2023
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Jl. Raya Bogor KM 33.5 No. 19
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Cimanggis – Depok 16953, INDONESIA                                                                               Date of Last Issued
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     July 14th, 2023
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Further clarifications regarding the scope of this certificate and the applicability of RSPO requirements and
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    verification of this certificate is available from MUTU Certification International at the above address or by
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    enquiries through www.mutucertification.com
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Date of Expiry
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     July 13th, 2028
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    PT Mutuagung Lestari is accredited for RSPO Principle & Criteria Certification on 12th of March 2014

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    This certificate remains property of PT Mutuagung Lestari and can be withdrawn in case of terminations as        The use of the accreditation mark indicates
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    mentioned in the contract or in case of changes or deviations of the above-mentioned data. The licensee is       accreditation in respect of those activities covered
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    obliged to inform PT Mutuagung Lestari immediately of any changes in the above-mentioned data. Only an           by the accreditation certificate
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    original and signed certificate is valid




                                                                                                                                                                               Penerbit | Issuer                                                                                                                                                                                                                                                                                                                                                                                                        Penerbit | Issuer
                                                                                                                                                                            PT Mutu Agung Lestari                                                                                                                                                                                                                                                                                                                                                                                                    PT Mutu Agung Lestari

                              Lingkup | Scope                                                                                                                                                                                                                                                                                                                                                                                                                           Lingkup | Scope
Perkebunan Kelapa Sawit Petani Swadaya di Asosiasi Petani Kelapa Sawit Mandiri                                                                                                                                                                                                                                                                                                                                                               Perkebunan Kelapa Sawit Pekebun Swadaya di Bumdes Berkah Mulya Jaya
  Independent Smallholder of Palm Oil Pantations in the Independent Palm Oil                                                                                                                                                                                                                                                                                                                                                               Independent Smallholder of Palm Oil Pantations in Bumders Berkah Mulya Jaya
                            Farmers Association
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              Masa Berlaku | Validity Period
                                                                                                                                Masa Berlaku | Validity Period                                                                                                                                                                                                                                                                                                                                                                                                                  14 Juli 2023 – 13 Juli 2028
                                                                                                                              22 Oktober 2019 - 21 Oktober 2024                                                                                                                                                                                                                                                                                                                                                                                                                July 14, 2023 – July 13, 2028
                                                                                                                              October 22, 2019 – October 21, 2024



                                                                                                                                                                                                                                                ISPO (INDONESIA SUSTAINABLE PALM OIL)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               .




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Menyatakan bahwa Sistem Sertifikasi
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Kelapa Sawit Berkelanjutan Indonesia

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             PT Menteng Kencana Mas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Telah dinilai oleh PT AJA Sertifikasi Indonesia dan teregistrasi terhadap persyaratan


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 ISPO (Indonesian Sustainable Palm Oil)
                                                                                                    SERTIFIKATISPO                                                                                                                                                                                                                                                                   SERTIFIKATISPO                                                                                                                                                                                                                                                                                                                                                         PERMENTAN No. 38 Tahun 2020 – Lampiran 1


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Nomor Sertifikat: AJAINDO/ISPO-IN/048/VII/2022

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Tanggal Penerbitan Sertifikat: 31/07/2022
                                                                                                              Sertifikat ini diberikan kepada                                                                                                                                                                                                                                               Sertifikat ini diberikan kepada
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Tanggal Berakhirnya Sertifikat: 30/07/2027
                                                                                                 PT. SAWIT MULTI UTAMA                                                                                                                                                                                                                                                          PT. TANJUNG SAWIT ABADI
                                                                                                                               Alamat Kantor Pusat :                                                                                                                                                                                                                                                   Alamat Kantor Pusat :                                                                                                                                                                                                                                                                                                Tanggal Re-Registrasi Sertifikat: N.A
                                            Jalan Haji Udan Said. No. 47, Kec. Arut Selatan Kabupaten Kotawaringin Barat, Provinsi Kalimantan Tengah, Indonesia                                                                                                                                                                                        Jalan Haji Udan Said. No. 47, Kec. Arut Selatan Kabupaten Kotawaringin Barat, Provinsi Kalimantan Tengah, Indonesia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Tanggal Pembaharuan Sertifikat: N.A
                                                  Telah Memenuhi Peraturan Menteri Pertanian Nomor 11/Permentan/OT.140/3/2015                                                                                                                                                                                                                               Telah Memenuhi Peraturan Menteri Pertanian Nomor 11/Permentan/OT.140/3/2015
                                                                                       Tentang                                                                                                                                                                                                                                                                                                   Tentang
                                           Sistem Sertifikasi Kelapa Sawit Berkelanjutan Indonesia (Indonesian Sustainable Palm Oil/ISPO)                                                                                                                                                                                                            Sistem Sertifikasi Kelapa Sawit Berkelanjutan Indonesia (Indonesian Sustainable Palm Oil/ISPO)                                                                                                                                                                                                                                                                         Tidak diizinkan memperbanyak dokumen ini.
                                                                       Melalui Skema Penilaian Sertifikasi Mutu                                                                                                                                                                                                                                                                  Melalui Skema Penilaian Sertifikasi Mutu                                                                                                                                                                                                                                                                                                   Sertifikat ini adalah milik PT AJA Sertifikasi Indonesia dan harus dikembalikan jika diminta

                                                                        Unit yang disertifikasi:                                                                                                                                                                                                                                                                                              Unit yang disertifikasi:
                                        Kebun: Estate Nanga Kiu, Estate Merambang, Estate Sepondam & Estate Batu Tunggal                                                                                                                                                                                                                                                   Kebun: Estate Malata, Estate Nanuah & Estate Sungai Bulik
                                                          Pabrik: Pabrik Minyak Kelapa Sawit Nanga Kiu                                                                                                                                                                                                                                                                             Pabrik: Pabrik Minyak Kelapa Sawit Malata
            Desa Nangakoring, Desa Sungkup, Desa Sepondam, Desa Pedongatan, Desa Merambang, Kec. Bulik Timur & Kec. Mentobi Raya, Kab. Lamandau, Provinsi                                                                                                                                                                                  Desa Sungkup, Desa Malata, Desa Nanuah, Desa Topalang, Desa Batu Ampar, Kec. Bulik Timur & Kec. Mentobi Raya, Kab. Lamandau,
                                                                   Kalimantan Tengah, Indonesia
                                                                                                                                                                                                                                                                                                                                                                                              Provinsi Kalimantan Tengah, Indonesia                                                                                                                                                                                                                                                                                                                                                           _______________________
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Lillian Ann Kallman
                                                                                                                                                                                  Nomor Sertifikat       : SGS-ID-ISPO-0041
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Presiden DIrektur PT AJA Sertifikasi Indonesia
                                                                                                                                                                                                                                                                                                                                                                                                                                               Nomor Sertifikat       : SGS-ID-ISPO-0042
                                                                                                                                                                                  Ditetapkan Tanggal     : 12 Agustus 2020                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                  Ditetapkan Tanggal        : 12 Agustus 2020
                                                                                                                                                                                Berakhir Tanggal       : 11 Agustus 2025
                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                 Berakhir Tanggal          : 11 Agustus 2025
                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                 : SGS-ID-ISPO-0033                                                                                                                                                                                                                
                                                                                                                                    JOHNNY KOE                                                                                                                                                                                                                                                                                                    : SGS-ID-ISPO-0033
                                                                                                                                                                                                                                                                                                                                                                                                           JOHNNY KOE
                                                                                                         Certification Business Enhancement Manager              Ditetapkan Tanggal                                                                                                                                                                                                            Certification Business Enhancement Manager
                                                                                                                       PT. SGS Indonesia                                                                                                                                                                                                                                                                     PT. SGS Indonesia                        Ditetapkan Tanggal                                                                                                                                                                                                                                                                  LSISPO-014-IDN
                                                                                          The Garden Center 2nd Floor, Jl. Raya Cilandak KKO, Jakarta 12560, Indonesia                                                                                                                                                                                                          The Garden Center 2nd Floor, Jl. Raya Cilandak KKO, Jakarta 12560, Indonesia
                                                                                                         Tel. +6221 29780600; Fax. +6221 29780678                : 12 Agustus 2020                                                                                                                                                                                                             Tel. +6221 29780600; Fax. +6221 29780678               : 12 Agustus 2020                                                                                                                                                                                                                                                      PT AJA Sertifikasi Indonesia, Jl. Daan Mogot Raya No. 119, Komplek Ruko Aldiron, Blok A17-18, Duri Kepa, Kebon Jeruk, Jakarta Barat, DKI Jakarta 11510 - Indonesia
                                                                                                                       LS-P&K-007-ISPO                                                                                                                                                                                                                                                                       LS-P&K-007-ISPO
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  www.ajaindonesia.com

                                                                                                                                                                                 Berakhir Tanggal                                                                                                                                                                                                                                               Berakhir Tanggal                                                                                                                                                                                                                                                   AJA/TMPL-014 Rev5
         www.SGS.co.id                                                                                                                                                                           WHEN YOU NEED TO BE SURE                                                                                                   www.SGS.co.id                                                                                                                         WHEN YOU NEED TO BE SURE
                                                                                                                                                                                  : 11 Agustus 2025
                                                                                                                                                                                                                                                                                                                                                                                                                                                  : 11 Agustus 2025
                                                                                                                                                                                  




                                                                                    Penerbit | Issuer                                                                                                                                                                                                                                                                        Penerbit | Issuer                                                                                                                                                                                                                                                                                                                 Penerbit | Issuer
                                                                                    PT SGS Indonesia                                                                                                                                                                                                                                                                         PT SGS Indonesia                                                                                                                                                                                                                                                                                                             PT AJA Sertifikasi Indonesia

                                         Lingkup | Scope                                                                                                                                                                                                                                                                                                   Lingkup | Scope                                                                                                                                                                                                                                                                                                                Lingkup | Scope
                                   PT Sawit Multi Utama (PT SMU)                                                                                                                                                                                                                                                                                     PT Tanjung Sawit Abadi (TSA)                                                                                                                                                                                                                                                                                                  PT Menteng Kencana Mas (MKM)

                            Masa Berlaku | Validity Period                                                                                                                                                                                                                                                                               Masa Berlaku | Validity Period                                                                                                                                                                                                                                                                                                                       Masa Berlaku | Validity Period
                          12 Agustus 2020 - 11 Agustus 2025                                                                                                                                                                                                                                                                            12 Agustus 2020 - 11 Agustus 2025                                                                                                                                                                                                                                                                                                                        31 Juli 2022 – 31 Juli 2027
                          August 12, 2020 – August 11, 2025                                                                                                                                                                                                                                                                            August 12, 2020 – August 11, 2025                                                                                                                                                                                                                                                                                                                       July 31, 2022 – July 31, 2027




                                                                                                                                                                                                                                                        SERTIFIKAT ISPO                                                                                                                                                                                                             SERTIFIKAT ISPO                                                                                                                                                                                                                                                                                               SERTIFIKAT ISPO
                                                                                             .




                     Menyatakan bahwa Sistem Sertifikasi                                                                                                                                                                                                                   Sertifikat ini diberikan kepada :                                                                                                                                                                                           Sertifikat ini diberikan kepada :                                                                                                                                                                                                                                                                                  Sertifikat ini diberikan kepada :

                     Kelapa Sawit Berkelanjutan Indonesia
                                                                                                                                                                                                                                   PT SAWIT SUMBERMAS SARANA                                                                                                                                                                                                            PT KALIMANTAN SAWIT ABADI                                                                                                                                                                                                                                                                                   PT MITRA MENDAWAI SEJATI
                                                                                                                                                                                                                                    Alamat :
                                               PT Mirza Pratama Putra
                                                                                                                                                                                                                                                                                                                                                                                                                                                                Alamat :
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Alamat :
                                                                                                                                                                                                                                    Head Office                 :   Jl. H. Udan Said No 47 Pangkalan Bun, Kelurahan Baru,                                                                                                                                       Head Office                 : Jl. H. Udan Said No 47 Pangkalan Bun, Kelurahan Baru,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Head Office                    :       Jl. H. Udan Said No 47 Pangkalan Bun, Kelurahan Baru,
                                                                                                                                                                                                                                                                    Kecamatan Arut Selatan, Kabupaten Kotawaringin Barat                                                                                                                                                                      Kecamatan      Arut Selatan, Kabupaten Kotawaringin Barat
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Kecamatan Arut Selatan, Kabupaten Kotawaringin Barat
                                                                                                                                                                                                                                                                    Provinsi Kalimantan Tengah 74113                                                                                                                                                                                          Provinsi Kalimantan Tengah 74113
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Provinsi Kalimantan Tengah 74113
                         Telah dinilai oleh PT AJA Sertifikasi Indonesia dan teregistrasi terhadap persyaratan
                                                                                                                                                                                                                                    Site Office                 : Desa Sulung dan Desa Natai Baru, Rangda, Rungun                                                                                                                                               Site Office                 : Desa Natai Baru Kecamatan Arut Selatan dan Desa Rungun
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Site Office                    :       Desa Umpang, Kecamatan Arut Selatan, Kabupaten
                                                                                                                                                                                                                                                                  Kondang,    Kecamatan        Arut   Selatan,  Kabupaten                                                                                                                                                                     Kecamatan Kotawaringin Lama, Kabupaten Kotawaringin
                                              ISPO (Indonesian Sustainable Palm Oil)                                                                                                                                                                              Kotawaringin Barat, Provinsi Kalimantan Tengah                                                                                                                                                                              Barat, Provinsi Kalimantan Tengah
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Kotawaringin Barat, Propinsi Kalimantan Tengah
                                           PERMENTAN No. 38 Tahun 2020 – Lampiran 1
                                                                                                                                                                                                                                    Telah dilakukan penilaian dan dinyatakan memenuhi persyaratan dalam                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Telah dilakukan penilaian dan dinyatakan memenuhi persyaratan dalam
                                                                                                                                                                                                                                                                                                                                                                                                                                                                Telah dilakukan penilaian dan dinyatakan memenuhi persyaratan dalam                                                                                                                                                                                                                                         Peraturan Menteri Pertanian Nomor 38 Tahun 2020 Tentang Penyelenggaraan
                                                                                                                                                                                                                                    Peraturan Menteri Pertanian Nomor 38 Tahun 2020 Tentang Penyelenggaraan                                                                                                                                                     Peraturan Menteri Pertanian Nomor 38 Tahun 2020 Tentang Penyelenggaraan
                                                                                                                                                                                                                                    Sertifikasi Perkebunan Kelapa Sawit berkelanjutan Indonesia (ISPO) –                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Sertifikasi Perkebunan Kelapa Sawit berkelanjutan Indonesia (ISPO) –
                                                                                                                                                                                                                                                                                                                                                                                                                                                                Sertifikasi Perkebunan Kelapa Sawit berkelanjutan Indonesia (ISPO) –                                                                                                                                                                                                                                        Lampiran I
            Nomor Sertifikat: AJAINDO/ISPO-IN/049/VII/2022                                                                                                                                                                          Lampiran I                                                                                                                                                                                                                  Lampiran I
                                                                                                                                                                                                                                   Unit yang disertifikasi :                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Unit yang disertifikasi :
            Tanggal Penerbitan Sertifikat: 31/07/2022                                                                                                                                                                                                                                                                                                                                                                                                          Unit yang disertifikasi :
                                                                                                                                                                                                                                   Kebun             : 8 (Delapan) Kebun PT Sawit Sumbermas Sarana Seluas                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Kebun              : 2 (Dua) Kebun PT Mitra Mendawai Sejati seluas 8.921,38 Ha
                                                                                                                                                                                                                                                                                                                                                                                                                                                               Kebun             : 2 (Dua) Kebun PT Kalimantan Sawit Abadi seluas 4.442,76 Ha                                                                                                                                                                                                                                                    di Desa Umpang, Kecamatan Arut Selatan, Kabupaten
            Tanggal Berakhirnya Sertifikat: 30/07/2027                                                                                                                                                                                                 16.984,82 Ha di Desa Sulung, Desa Kondang, Desa Rungun,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  di Desa Natai Baru, Kecamatan Arut Selatan dan Desa Rungun,                                                                                                                                                                                                                                                    Kotawaringin Barat, Provinsi Kalimantan Tengah
                                                                                                                                                                                                                                                       Desa Rangda dan Desa Natai Baru, Kecamatan Arut Selatan,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Kecamatan Kotawaringin Lama, Kabupaten Kotawaringin Barat,
            Tanggal Re-Registrasi Sertifikat: N.A                                                                                                                                                                                                      Kabupaten Kotawaringin Barat, Provinsi Kalimantan Tengah                                                                                                                                                                                                                                                                                                                                                                                                                                                             Pabrik             : 1 (Satu) Pabrik dengan Kapasitas 60 Ton TBS/Jam di Desa Umpang,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Provinsi Kalimantan Tengah
                                                                                                                                                                                                                                   Pabrik            : 2 (Dua) Pabrik dengan Kapasitas 90 Ton TBS/Jam di Desa Sulung                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Kecamatan Arut Selatan, Kabupaten Kotawaringin Barat, Provinsi
                                                                                                                                                                                                                                                                                                                                                                                                                                                               Pabrik            : 1 (Satu) Pabrik dengan Kapasitas 90 Ton TBS/Jam di Desa Natai Baru,                                                                                                                                                                                                                                           Kalimantan Tengah
            Tanggal Pembaharuan Sertifikat: N.A                                                                                                                                                                                                        dan Desa Rangda, Kecamatan Arut Selatan, Kabupaten
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Kecamatan Arut Selatan, Kabupaten Kotawaringin Barat, Provinsi
                                                                                                                                                                                                                                                       Kotawaringin Barat, Provinsi Kalimantan Tengah
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Kalimantan Tengah                                                                                                                                                                                                                                                                        Model Rantai Pasok : Massbalance
            Tidak diizinkan memperbanyak dokumen ini.
                                                                                                                                                                                                                                   Model Rantai Pasok : Massbalance
            Sertifikat ini adalah milik PT AJA Sertifikasi Indonesia dan harus dikembalikan jika diminta                                                                                                                                                                                                                                                                                                                                                       Model Rantai Pasok : Mass Balance

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Tanggal Penerbitan Sertifikat : 15 Desember 2022                                                 Nomor Sertifikat : SPO.22041.TSI
                                                                                                                                                                                                                                                                                                                                                                                                                                                               Tanggal Penerbitan Sertifikat : 15 Desember 2022                               Nomor Sertifikat : SPO.22040.TSI
                                                                                                                                                                                                                                   Tanggal Penerbitan Sertifikat : 15 Desember 2022                               Nomor Sertifikat : SPO.22042.TSI                                                                                                                                                                                                                                                                                                                                                                                                                          Tanggal Berakhir Sertifikat                        : 14 Desember 2027
                                                                                                                                                                                                                                                                                                                                                                                                                                                               Tanggal Berakhir Sertifikat                 : 14 Desember 2027
                                                                                                                                                                                                                                   Tanggal Berakhir Sertifikat                 : 14 Desember 2027
                                                                             _______________________
                                                                                   Lillian Ann Kallman
                                                                  Presiden DIrektur PT AJA Sertifikasi Indonesia




                                                                                                                                                                                                                                      Nungky Awang Chandra                                                                                                                                                                                                        Nungky Awang Chandra                                                                                                                                                                                                                                                                                         Nungky Awang Chandra
                                                                                                                                                                                                                                            Direktur Utama                                                                                                                                                                                                              Direktur Utama                                                                                                                                                                                                                                                                                              Direktur Utama
                          LSISPO-014-IDN

                                                                                                                                                                                                                                   Sertifikat dapat diperiksa secara online : 021-74775110 atau www.tsicertification.com atau Email : info@tsicertification.co.id                                                                                              Sertifikat dapat diperiksa secara online : 021-74775110 atau www.tsicertification.com atau Email : info@tsicertification.co.id                                                                                                                                                                               Sertifikat dapat diperiksa secara online : 021-74775110 atau www.tsicertification.com atau Email : info@tsicertification.co.id
             PT AJA Sertifikasi Indonesia, Jl. Daan Mogot Raya No. 119, Komplek Ruko Aldiron, Blok A17-18, Duri Kepa, Kebon Jeruk, Jakarta Barat, DKI Jakarta 11510 - Indonesia                                                    PT TSI Sertifikasi Internasional – Ad Premiere, Lantai 16 Jl. TB Simatupang Nomor 5, Kelurahan Ragunan, Kecamatan Pasar                                                                                                     PT TSI Sertifikasi Internasional – Ad Premiere, Lantai 16 Jl. TB Simatupang Nomor 5, Kelurahan Ragunan, Kecamatan Pasar                                                                                                                                                                                  PT TSI Sertifikasi Internasional – Ad Premiere, Lantai 16 Jl. TB Simatupang Nomor 5, Kelurahan Ragunan, Kecamatan Pasar
                                                                                 www.ajaindonesia.com
                                                                                                                                                                                                                                                                           Minggu, Jakarta Selatan 12550, DKI Jakarta                                                                                                                                                                                  Minggu, Jakarta Selatan 12550, DKI Jakarta                                                                                                                                                                                                                                                                         Minggu, Jakarta Selatan 12550, DKI Jakarta
     AJA/TMPL-014 Rev5
                                                                                                                                                                                                                                     1 /3                                                                                                             F-CM-14 Rev.4                                                                                              1 /2                                                                                                             F-CM-14 Rev.4                                                                                                                                                                              1 /2                                                                                                                   F-CM-14 Rev.4




         Penerbit | Issuer                                                                                                                                                                                                              Penerbit | Issuer                                                                                                                                                                                                     Penerbit | Issuer                                                                                                                                                                                                                                                                                  Penerbit | Issuer
    PT AJA Sertifikasi Indonesia                                                                                                                                                                                                 PT TSI Sertifikasi Internasional                                                                                                                                                                                      PT TSI Sertifikasi Internasional                                                                                                                                                                                                                                                                   PT TSI Sertifikasi Internasional

         Lingkup | Scope                                                                                                                                                                                                                Lingkup | Scope                                                                                                                                                                                                 Lingkup | Scope                                                                                                                                                                                                                                                                                   Lingkup | Scope
   PT Mirza Pratama Putra (MPP)                                                                                                                                                                                                PT Sawit Sumbermas Sarana (SSS)                                                                                                                                                                                  PT Kalimantan Sawit Abadi (KSA)                                                                                                                                                                                                                                                                   PT Mitra Mendawai Sejati (MMS)

  Masa Berlaku | Validity Period                                                                                                                                                                                                  Masa Berlaku | Validity Period                                                                                                                                                                        Masa Berlaku | Validity Period                                                                                                                                                                                                                                                         Masa Berlaku | Validity Period
    31 Juli 2022 – 30 Juli 2027                                                                                                                                                                                               15 Desember 2022 – 14 Desember 2027                                                                                                                                                                   15 Desember 2022 – 14 Desember 2027                                                                                                                                                                                                                                                    15 Desember 2022 – 14 Desember 2027
   July 31, 2022 – July 31, 2027                                                                                                                                                                                              December 15, 2022 – December 14, 2027                                                                                                                                                                 December 15, 2022 – December 14, 2027                                                                                                                                                                                                                                                  December 15, 2022 – December 14, 2027




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Page 30
01

                                            ISO 14001:2015 (SISTEM MANAJEMEN LINGKUNGAN)
                                            ISO 14001:2015 Environmental Management System)

                                        Penerbit | Issuer                                                   Penerbit | Issuer
                                        QFS Management System LLP                                           QFS Management System LLP

                                        Lingkup | Scope                                                     Lingkup | Scope
                                        Area Perkebunan:                                                    Area Pabrik Kelapa Sawit:
                                        Plantation Area:                                                    Palm Oil Mill Area:

                                        •    Kenambui Estate, Sulung Estate,                                •   Sulung Mill, Selangkun Mill, Natai
                                             Rangda Estate, Pulau Estate,                                       Baru Mill, Suayap Mill, Malata Mill,
                                             Selangkun Estate, Rungun Estate,                                   Sumber Cahaya Mill, Nanga Kiu
                                             Kondang Estate, Natai Baru Estate,                                 Mill, Kanamit Mill
                                             Batu Kotam                                                     •   PT Kalimantan Sawit Abadi (KSA)
                                        •    Estate, Suayap Estate, Umpang                                  •   PT Mitra Mendawai Sejati (MMS)
                                             Estate, Malata Estate, Sungai Bulik                            •   PT Sawit Multi Utama (PT SMU)
                                             Estate, Nanuah Estate, Sepondam                                •   PT Tanjung Sawit Abadi (TSA)
                                             Estate, Batu Tunggal Estate,                                   •   PT Mirza Pratama Putra (MPP)
                                             Pedongatan                                                     •   PT Menteng Kencana Mas (MKM)
                                        •    Estate, Merambang Esatate, Nanga
                                             Kiu Estate, Sumber Cahaya Estate,                              Masa Berlaku | Validity Period
                                             Badirih Estate, Bahaur Estate,                                 13 Oktober 2023 - 12 Oktober 2024
                                             Kanamit Estate                                                 October 13, 2023 – October 12, 2024

                                        Masa Berlaku | Validity Period
                                        13 Oktober 2023 - 12 Oktober 2024
                                        October 13, 2023 – October 12, 2024




                                        Penerbit | Issuer
                                        QFS Management System LLP

                                        Lingkup | Scope
                                        Perkebunan Kelapa Sawit, Pabrik
                                        Minyak Sawit, dan Pengolahan Biji
                                        Sawit serta fasilitas pendukung
                                        lainnya:
                                        Palm Oil Plantations, Palm Oil Mills
                                        and Palm Kernel Processing and other
                                        supporting facilities:

                                        PT Sawit Sumbermas Sarana Tbk

                                        Masa Berlaku | Validity Period
                                        13 Oktober 2023 - 12 Oktober 2024
                                        October 13, 2023 – October 12, 2024




                   ISO 9001:2015 (SISTEM MANAJEMEN MUTU)                           ISO 45001: 2018 (Sistem Manajemen Keselamatan
                  ISO 9001:2015 (Quality Management System)                                      dan Kesehatan Kerja)
                                                                                    ISO 45001: 2018 (Occupational Health and Safety
                                                                                                 Management System)

                                        Penerbit | Issuer                                                   Penerbit | Issuer
                                        QFS Management System LLP                                           QFS Management System LLP

                                        Lingkup | Scope                                                     Lingkup | Scope
                                        Sistem Manajemen Perkebunan                                         Sistem Manajemen Perkebunan
                                        Kelapa Sawit, Pabrik Minyak Sawit,                                  Kelapa Sawit, Pabrik Minyak Sawit,
                                        dan Pengolahan Biji Sawit serta
                                        Fasilitas Pendukung Lainnya:                                        dan Pengolahan Biji Sawit serta
                                        Palm Oil Plantation Management                                      Fasilitas Pendukung Lainnya:
                                        System, Palm Oil Mills, and Palm                                    Palm Oil Plantation Management
                                        Kernel Processing and Other                                         System, Palm Oil Mills, and Palm
                                        Supporting Facilities:                                              Kernel Processing and Other
                                        •    PT Sawit Sumbermas Sarana Tbk                                  Supporting Facilities:
                                        •    PT Kalimantan Sawit Abadi (KSA)
                                        •    PT Mitra Mendawai Sejati (MMS)                                 •   PT Sawit Sumbermas Sarana Tbk
                                        •    PT Sawit Multi Utama (PT SMU)                                  •   PT Kalimantan Sawit Abadi (KSA)
                                        •    PT Tanjung Sawit Abadi (TSA)                                   •   PT Mitra Mendawai Sejati (MMS)
                                        •    PT Mirza Pratama Putra (MPP)
                                        •    PT Menteng Kencana Mas (MKM)                                   •   PT Sawit Multi Utama (PT SMU)
                                                                                                            •   PT Tanjung Sawit Abadi (TSA)
                                                                                                            •   PT Mirza Pratama Putra (MPP)
                                        Masa Berlaku | Validity Period                                      •   PT Menteng Kencana Mas (MKM)
                                        13 Oktober 2023 - 12 Oktober 2024
                                        October 13, 2023 – October 12, 2024
                                                                                                            Masa Berlaku | Validity Period
                                                                                                            13 Oktober 2023 - 12 Oktober 2024
                                                                                                            October 13, 2023 – October 12, 2024




30 Laporan Tahunan 2023 Annual Report
      PT SAWIT SUMBERMAS SARANA TBK.
Page 31
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               KILAS KINERJA 2023
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          2023 PERFORMANCE HIGHLIGHT   01

                                                                                                                                                                                                                                                                     Sertifikasi BHRISC 2011 (Hak Asasi Manusia)
                                                                                                                                                                                                                                                                      BHRISC Ceritifcation 2011 (Human Rights)



                    REGISTRATION                                                                                                                                                                                                                                                                                                                                                                                  REGISTRATION                                                                                                                                                                                                                                                                                                                                                                                  REGISTRATION
                     CERTIFICATE                                                                                                                                                                                                                                                                                                                                                                                   CERTIFICATE                                                                                                                                                                                                                                                                                                                                                                                   CERTIFICATE
                             This is to certify that the Human Rights Management System of                                                                                                                                                                                                                                                                                                                                 This is to certify that the Human Rights Management System of                                                                                                                                                                                                                                                                                                                                 This is to certify that the Human Rights Management System of


                                       PT Sawit Sumbermas Sarana Tbk.                                                                                                                                                                                                                                                                                                                                                                            PT Kalimantan Sawit Abadi                                                                                                                                                                                                                                                                                                                                                                       PT Mitra Mendawai Sejati

                                                 has been assessed by PT AJA Sertifikasi Indonesia                                                                                                                                                                                                                                                                                                                                             has been assessed by PT AJA Sertifikasi Indonesia                                                                                                                                                                                                                                                                                                                                             has been assessed by PT AJA Sertifikasi Indonesia
                                                        and registered against the requirements of                                                                                                                                                                                                                                                                                                                                                    and registered against the requirements of                                                                                                                                                                                                                                                                                                                                                    and registered against the requirements of




         BUSINESS AND HUMAN RIGHTS INTERNATIONAL                                                                                                                                                                                                                                                                                                                                                       BUSINESS AND HUMAN RIGHTS INTERNATIONAL                                                                                                                                                                                                                                                                                                                                                       BUSINESS AND HUMAN RIGHTS INTERNATIONAL
         STANDARDS FOR CERTIFICATION (BHRISC 2011)                                                                                                                                                                                                                                                                                                                                                     STANDARDS FOR CERTIFICATION (BHRISC 2011)                                                                                                                                                                                                                                                                                                                                                     STANDARDS FORCERTIFICATION (BHRISC 2011)

                                                            endorsed by FIHRRST on April 6, 2015                                                                                                                                                                                                                                                                                                                                                          endorsed by FIHRRST on April 6, 2015                                                                                                                                                                                                                                                                                                                                                          endorsed by FIHRRST on April 6, 2015




                              AJA/18/BHRISC/0002                                                                       26th September 2018                                                                                                                                                                                                                                                                                  AJA/18/BHRISC/0003                                                                       26th September 2018                                                                                                                                                                                                                                                                                  AJA/18/BHRISC/0004                                                                       26th September 2018
                                       Certificate No.                                                          Date of Original Registration                                                                                                                                                                                                                                                                                        Certificate No.                                                          Date of Original Registration                                                                                                                                                                                                                                                                                        Certificate No.                                                          Date of Original Registration




                               25th September 2024                                                                     25th September 2021                                                                                                                                                                                                                                                                                   25th September 2024                                                                     25th September 2021                                                                                                                                                                                                                                                                                   25th September 2024                                                                     25th September 2021
                                         Date of Expiry                                                                Date of Re-Registration                                                                                                                                                                                                                                                                                         Date of Expiry                                                                Date of Re-Registration                                                                                                                                                                                                                                                                                         Date of Expiry                                                                Date of Re-Registration




                                                                                        Lillian Kallman                                                                                                                                                                                                                                                                                                                                                                               Lillian Kallman                                                                                                                                                                                                                                                                                                                                                                               Lillian Kallman
                                                                                             Director                                                                                                                                                                                                                                                                                                                                                                                      Director                                                                                                                                                                                                                                                                                                                                                                                      Director


                                                                       The partial reproduction of this document is not permitted.                                                                                                                                                                                                                                                                                                                                   The partial reproduction of this document is not permitted.                                                                                                                                                                                                                                                                                                                                   The partial reproduction of this document is not permitted.
       This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Majapahit No. 10, Petojo Selatan, Jakarta Pusat 10160 – Indonesia                                                                                                                                                                                                        This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Majapahit No. 10, Petojo Selatan, Jakarta Pusat 10160 – Indonesia                                                                                                                                                                                                        This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Majapahit No. 10, Petojo Selatan, Jakarta Pusat 10160 – Indonesia

                                                                                    www.ajaindonesia.com                                                                                                                                                                                                                                                                                                                                                                          www.ajaindonesia.com                                                                                                                                                                                                                                                                                                                                                                          www.ajaindonesia.com




                                      Penerbit | Issuer                                                                                                                                                                                                                                                                                                                                                                             Penerbit | Issuer                                                                                                                                                                                                                                                                                                                                                                             Penerbit | Issuer
                                        A Cube TIC                                                                                                                                                                                                                                                                                                                                                                                    A Cube TIC                                                                                                                                                                                                                                                                                                                                                                                    A Cube TIC

            Lingkup | Scope                                                                                                                                                                                                                                                                                                                                                                               Lingkup | Scope                                                                                                                                                                                                                                                                                                                                                                               Lingkup | Scope
    PT Sawit Sumbermas Sarana Tbk                                                                                                                                                                                                                                                                                                                                                                 PT Kalimantan Sawit Abadi (KSA)                                                                                                                                                                                                                                                                                                                                                               PT Mitra Mendawai Sejati (MMS)

     Masa Berlaku | Validity Period                                                                                                                                                                                                                                                                                                                                    Masa Berlaku | Validity Period                                                                                                                                                                                                                                                                                                                                                                Masa Berlaku | Validity Period
25 September 2021 – 25 September 2024                                                                                                                                                                                                                                                                                                                             25 September 2021 – 25 September 2024                                                                                                                                                                                                                                                                                                                                                         25 September 2021 – 25 September 2024
September 25, 2021 – September 25, 2024                                                                                                                                                                                                                                                                                                                           September 25, 2021 – September 25, 2024                                                                                                                                                                                                                                                                                                                                                       September 25, 2021 – September 25, 2024




                                                                                                                                                                                                                     REGISTRATION                                                                                                                                                                                                                                                                                                                                                                                  REGISTRATION
                                                                                                                                                                                                                      CERTIFICATE                                                                                                                                                                                                                                                                                                                                                                                   CERTIFICATE
                                                                                                                                                                                                                             This is to certify that the Human Rights Management System of                                                                                                                                                                                                                                                                                                                                 This is to certify that the Human Rights Management System of


                                                                                                                                                                                                                                                   PT. Menteng Kencana Mas                                                                                                                                                                                                                                                                                                                                                                           PT. Mirza Pratama Putra

                                                                                                                                                                                                                                                 has been assessed by PT AJA Sertifikasi Indonesia                                                                                                                                                                                                                                                                                                                                             has been assessed by PT AJA Sertifikasi Indonesia
                                                                                                                                                                                                                                                        and registered against the requirements of                                                                                                                                                                                                                                                                                                                                                    and registered against the requirements of




                                                                                                                                                                                                          BUSINESS AND HUMAN RIGHTS INTERNATIONAL                                                                                                                                                                                                                                                                                                                                                       BUSINESS AND HUMAN RIGHTS INTERNATIONAL
                                                                                                                                                                                                          STANDARDS FOR CERTIFICATION (BHRISC 2011)                                                                                                                                                                                                                                                                                                                                                     STANDARDS FOR CERTIFICATION (BHRISC 2011)

                                                                                                                                                                                                                                                            endorsed by FIHRRST on April 6, 2015                                                                                                                                                                                                                                                                                                                                                          endorsed by FIHRRST on April 6, 2015




                                                                                                                                                                                                                               AJA/22/BHRISC/0005                                                                         25th August 2022                                                                                                                                                                                                                                                                                   AJA/22/BHRISC/0006                                                                         25th August 2022
                                                                                                                                                                                                                                        Certificate No.                                                         Date of Original Registration                                                                                                                                                                                                                                                                                         Certificate No.                                                         Date of Original Registration




                                                                                                                                                                                                                                    24th August 2025                                                                                     N.A                                                                                                                                                                                                                                                                                      24th August 2025                                                                                     N.A
                                                                                                                                                                                                                                         Date of Expiry                                                               Date of Re-Registration                                                                                                                                                                                                                                                                                          Date of Expiry                                                               Date of Re-Registration




                                                                                                                                                                                                                                                                                       Lillian Kallman                                                                                                                                                                                                                                                                                                                                                                               Lillian Kallman
                                                                                                                                                                                                                                                                                            Director                                                                                                                                                                                                                                                                                                                                                                                      Director

                                                                                                                                                                                                                                                                        The partial reproduction of this document is not permitted.                                                                                                                                                                                                                                                                                                                                   The partial reproduction of this document is not permitted.
                                                                                                                                                                                                    This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Daan Mogot Raya No. 119, Komplek Ruko Aldiron, Blok A17-18, Duri Kepa,                                                                                                                                                                                                   This certificate is the property of PT AJA Sertifikasi Indonesia and must be returned on request to the address: Jl. Daan Mogot Raya No. 119, Komplek Ruko Aldiron, Blok A17-18, Duri Kepa,
                                                                                                                                                                                                                                                                        Kebon Jeruk, Jakarta Barat, DKI Jakarta 11510 - Indonesia                                                                                                                                                                                                                                                                                                                                     Kebon Jeruk, Jakarta Barat, DKI Jakarta 11510 - Indonesia

                                                                                                                                                                                                                                                                                    www.ajaindonesia.com                                                                                                                                                                                                                                                                                                                                                                          www.ajaindonesia.com




                                                                                                                                                                                                                                      Penerbit | Issuer                                                                                                                                                                                                                                                                                                                                                                             Penerbit | Issuer
                                                                                                                                                                                                                                        A Cube TIC                                                                                                                                                                                                                                                                                                                                                                                    A Cube TIC

                                                                                                                                                                                                       Lingkup | Scope                                                                                                                                                                                                                                                                                                                                                                                Lingkup | Scope
                                                                                                                                                                                                PT Menteng Kencana Mas (MKM)                                                                                                                                                                                                                                                                                                                                                                    PT Mirza Pratama Putra (MPP)

                                                                                                                                                                                                  Masa Berlaku | Validity Period                                                                                                                                                                                                                                                                                                                                                                Masa Berlaku | Validity Period
                                                                                                                                                                                                25 Agustus 2022 – 24 Agustus 2025                                                                                                                                                                                                                                                                                                                                                             25 Agustus 2022 – 24 Agustus 2025
                                                                                                                                                                                                August 25, 2022 – August 24, 2025                                                                                                                                                                                                                                                                                                                                                             August 25, 2022 – August 24, 2025




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      KILAS PERISTIWA 2023
      2023 EVENT HIGHLIGHTS

                                                                           JANUARI
                                                                            January




                                                                              Dalam rangka meningkatkan kesadaran masyarakat untuk waspada
                                                                              terhadap bahaya kebakaran hutan dan lahan (Karhutla), PT Sawit
                                                                              Sumbermas Sarana Tbk (SSMS) kembali mengadakan pelatihan dan
                                                                              simulasi pengendalian bahaya Karhutla bersama Masyarakat Peduli Api
                                                                              (MPA) di Desa Umpang, Kecamatan Arut Selatan, Kabupaten Kotawaringin
                                                                              Barat, pada Kamis, 20 Januari 2023.

                                                                              In order to improve public awareness against the dangers of forest and land
                                                                              fires (Karhutla) PT Sawit Sumbermas Sarana Tbk (SSMS) held training and
                                                                              simulations to control the dangers of Karhutla with Masyarakat Peduli Api
                                                                              (MPA) in Umpang Village, South Arut District, West Kotawaringin Regency,
                        Antisipasi Karhutla, SSMS Berikan Pelatihan           on Thursday, January 20, 2023.
                                 ke MPA sekitar Perusahaan
                     Anticipate Karhutla, SSMS Provides Training to MPAs
                                which is around the Company




                                                                              Sebanyak 128 Petani binaan SSMS dan ecogreen dari Bumdes Berkah Mulya
                                                                              Jaya (BMJ), Desa Mekar Mulya berhasil memperoleh keanggotaan RSPO
                                                                              pada Selasa, 31 Januari, 2023. Menurut Kepala Divisi Keberlanjutan PT Sawit
                                                                              Sumbermas Sarana Tbk, Henky Satrio Wibowo, para petani binaan dengan
                                                                              luas lahan 556,7 hektar ini telah mendapatkan keanggotaan RSPO dan akan
                                                                              mengikuti sertifikasi RSPO pada awal Maret tahun 2023.

                                                                              A total of 128 assisted farmers of SSMS and Ecogreeen from BUMDes
                                                                              Berkah Mulya Jaya (BMJ), Mekar Mulya Village successfully obtaining
                                                                              RSPO membership on Tuesday, January 31, 2023. According to the Head
                                                                              of Sustainability Division of PT Sawit Sumbermas Sarana Tbk, Henky Satrio
                                                                              Wibowo, this assisted farmers with an area of 556.7 hectares have obtained
                                                                              the RSPO membership and will take part in RSPO certification in the
             Petani Binaan SSMS dan Ecogreen Dapatkan Keanggotaan RSPO        beginning of March of 2023.
              Assisted Farmers of SSMS and Ecogreen Get RSPO Membership




                                                                              Dalam rangka pendataan dan pemetaan kepemilikan kebun sawit petani
                                                                              swadaya yang akan mengikuti program sertifikasi Roundtable Sustainable
                                                                              Palm Oil (RSPO), Petani binaan SSMS dan Ecogreen yang tergabung dalam
                                                                              Bumdes Berkah Mulya Jaya, Desa Mekar Mulya berhasil mendapatkan
                                                                              Surat Tanda Daftar Budidaya (STD-B). Penyerahan STD-B dilakukan secara
                                                                              simbolis oleh Dinas Perkebunan Kabupaten Lamandau pada Jumat, 6
                                                                              Januari 2023. STD-B merupakan instrumen penting dalam tata kelola sawit
                                                                              yang berkelanjutan dan menjadi salah satu item dalam syarat penerbitan
                                                                              sertifikasi RSPO. Saat ini sebanyak 103 dari 128 petani yang akan disertifikasi
                                                                              RSPO sudah memiliki STD-B.

                                                                              In order to collect data and mapping the ownership of independent
                                                                              smallholder oil palm plantations who will participate in the Roundtable
                                                                              Sustainable Palm Oil (RSPO) certification program, the assisted farmers
                                                                              of SSMS and Ecogreen who are members of BUMDes Berkah Mulya Jaya,
                                                                              Mekar Mulya Village have managed in obtaining a Cultivation Registration
                                                                              Certificate (STD-B). Submission of STD-B carried out symbolically by the
                                                                              Lamandau Regency Plantation Office on Friday, January 6, 2023. STD-B is an
                                                                              important instrument in sustainable palm oil governance and is one of the
                       Petani Binaan SSMS dan Ecogreen Raih STD-B             items required for issuing RSPO certification. Currently, as many as 103 of
                     Assisted Farmers of SSMS and Ecogreen Get STD-B          the 128 farmers who will be RSPO certified already have STD-B.




32 Laporan Tahunan 2023 Annual Report
      PT SAWIT SUMBERMAS SARANA TBK.
Page 33
                                                                                                                            KILAS KINERJA 2023
                                                                                                                             2023 PERFORMANCE HIGHLIGHT   01




                                                              FEBRUARI
                                                               February




                                                                  Dua Entitas anak SSMS, yaitu PT Sawit Multi Utama dan PT Tanjung Sawit
                                                                  Abadi telah menandatangani perjanjian kerja sama dengan Lembaga
                                                                  Pengelolaan Hutan Desa (LPHD) Tambun Puti, Desa Petak Puti, Kecamatan
                                                                  Timpah, Kabupaten Kapuas, pada Rabu, 8 Februari 2023. Penandatanganan
                                                                  Kerjasama (MoU) yang digelar di Balai Desa Petak Puti tersebut disaksikan
                                                                  oleh Kepala Desa Petak Puti dan Perwakilan dari Management SSMS.
                                                                  Program kerjasama meliputi pelindungan dan peningkatan kualitas
                                                                  kawasan hutan melalui penelitian dan edukasi serta pemberdayaan
                                                                  kelompok perhutanan sosial.

                                                                  Two of SSMS Subsidiaries, namely PT Sawit Multi Utama and PT Tanjung
                                                                  Sawit Abadi have signed the cooperation agreement with the Tambun
                                                                  Puti Village Forest Management Institute (LPHD), Petak Puti Village,
                                                                  Timpah District, Kapuas Regency, on Wednesday, February 8, 2023. The
                                                                  signing of Memorandum of Understanding (MoU) held at Petak Puti Village
                                                                  Hall was witnessed by the Head of Petak Puti Village and representatives
                                                                  from SSMS Management. The cooperation program includes protecting
               Entitas Anak SSMS Tandatangani                     and improving the quality of forest areas through research and education
        Perjanjian Kerja Sama dengan LPHD Petak Puti              as well as empowering social forestry groups.
    SSMS Subsidiaries Signed Agreement with LPHD Petak Puti




                                                                  Delapan Pabrik Kelapa Sawit (PKS) SSMS Group menerima penghargaan
                                                                  Kecelakaan Nihil atau Zero Accident dari Dinas Ketenagakerjaan dan
                                                                  Transmigrasi (Disnakertrans) Provinsi Kalimantan Tengah pada Senin, 13
                                                                  Februari 2023. PKS yang berhasil mendapatkan penghargaan tersebut
                                                                  yaitu PKS Sulung dan PKS Selangkun (PT SSS), PKS Natai Baru (PT KSA),
                                                                  PKS Suayap (PT MMS), PKS Nanga Kiu (PT SMU), PKS Melata (PT TSA),
                                                                  PKS Sumber Cahaya (PT MPP) dan PKS Kanamit (PT MKM). PKS tersebut
                                                                  dinilai berhasil menerapkan Sistem Keselamatan dan Kesehatan Kerja (K3)
                                                                  dengan baik. Penghargaan ini diterima atas capaian 6.888.698 jam (kerja)
                                                                  produksi tanpa cedera, terhitung tanggal 1 Januari 2020 sampai dengan 31
                                                                  Desember 2022. Penghargaan diserahkan langsung oleh Sekda Provinsi
                                                                  Kalimantan Tengah Nuryakin kepada perwakilan Management SSMS di
                                                                  halaman kantor Disnakertrans Kalteng.

                                                                  Eight SSMS Group’s Palm Oil Mills receive Zero Accident Award from the
                                                                  Manpower and Transmigration Office (Disnakertrans) of Central Kalimantan
                                                                  Province on Monday, February 13, 2023. The PKS that won the award were
                                                                  PKS Sulung, Selangkun, Natai Baru, Suayap, Nanga Kiu, Melata, Sumber
                                                                  Cahaya and Kanamit. The PKS is considered successful in implementing
                                                                  the Occupational Safety and Health System (K3) properly. This award was
                                                                  received for the achievement of 6,888,698 hours (work) of production
                                                                  without injury, from January 1, 2020, to December 31, 2022. The award was
                                                                  handed over directly by Central Kalimantan Provincial Secretary Nuryakin
8 Pabrik Kelapa Sawit (PKS) SSMS Raih Penghargaan Zero Accident
       8 SSMS’s Palm Oil Mills Receive Zero Accident Awards       to SSMS Management representatives in the yard of the Central Kalimantan
                                                                  Disnakertrans office.




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                                                                      FEBRUARI
                                                                       February


                                                                          Bertempat di Pusat Training Center SSMS, Perseroan memberikan reward
                                                                          kepada 38 karyawan berprestasi atau mandor panen terbaik pada hari
                                                                          Selasa, 21 Februari 2023. Pemberian penghargaan ini dilakukan dalam
                                                                          rangka mendorong dan menciptakan suasana kerja yang kompetitif antar
                                                                          mandor panen. Pemberian reward dibagi dalam tiga kategori yakni mandor
                                                                          terbaik untuk SSMS Group sebanyak 5 karyawan, terbaik di level Region
                                                                          sebanyak 9 karyawan dan terbaik di level wilayah sebanyak 24 karyawan.
                                                                          Para mandor panen yang menerima penghargaan dinilai berdasarkan hasil
                                                                          produksi, rotasi panen, mutu ancak, mutu buah, kedisiplinan, perilaku dan
                                                                          kerja sama tim serta loyalitas kepada perusahaan.

                                                                          Located at the SSMS Training Center, the Company rewards 38
                                                                          outstanding employee or the best harvest foreman on Tuesday, February
                                                                          21, 2023. This award given to encourage and create a competitive working
                                                                          atmosphere between harvest foremen. The rewards are divided into
                                                                          three categories, namely the best foreman for SSMS Group as many as 5
                                                                          employees, the best at the regional level with as many as 9 employees,
                                                                          and the best at the regional level with as many as 24 employees. The
                                                                          harvest foremen who received awards were judged based on production
                   SSMS Berikan Reward kepada Mandor Panen Terbaik        results, crop rotation, ancak quality, fruit quality, discipline, behavior, and
                        SSMS Rewards the Best Harvest Foreman             teamwork as well as loyalty to the company.




                                                                        MEI
                                                                        May



                                                                          Petani Binaan SSMS dan Ecogreen dari Bumdes Berkah Mulya Jaya (BMJ)
                                                                          menggelar audit sertifikasi RSPO yang berlangsung pada 8-10 Mei 2023
                                                                          oleh Badan Sertifikasi Independen, Mutu Agung Lestari. Sertifikasi audit
                                                                          ini dilakukan untuk mendorong agar lebih banyak petani swadaya yang
                                                                          terlibat dalam pasar sawit berkelanjutan. Target sertifikasi tahap pertama
                                                                          ini sebanyak 128 petani dengan luasan 552,9 hektar. Kedepannya, SSMS
                                                                          dan Ecogreen akan mendorong dan memberdayakan lebih banyak petani
                                                                          swadaya untuk mendapatkan sertifikat RSPO yang diakui secara global
                                                                          khususnya petani di Kabupaten Lamandau.

                                                                          Assisted Farmers of SSMS and Ecogreen from BUMDes Berkah Mulya
                                                                          Jaya (BMJ) held RSPO Certification audit which took place on May 8 -10,
                                                                          2023 by an Independent Certification Body, namely Mutu Agung Lestari.
                                                                          This Certification audit is conducted to ncourage more independent
                                                                          smallholders to be involved in the sustainable palm oil market through the
                                                                          RSPO certification program. The target of this first phase of certification is
                                                                          128 farmers with an area of 552.9 hectares. In the future, SSMS and Eco
                       Petani Binaan SSMS dan Ecogreen Melakukan
                                                                          green will encourage and empower more independent smallholders to
                                   Audit Sertifikasi RSPO
                                                                          obtain RSPO certificates that are recognized globally, especially farmers in
                      Assisted Farmers of SSMS and Ecogreen Conduct
                                  RSPO Certification Audit                Lamandau District.




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                                                          JUNI
                                                          June




                                                           Sebanyak 613 petani kelapa sawit swadaya binaan SSMS yang tergabung
                                                           dalam Asosiasi Petani Kelapa Sawit Mandiri (APKSM) kembali berhasil
                                                           menjual minyak sawit berkelanjutan bersertifikasi RSPO kepada pembeli
                                                           internasional melalui skema platform perdagangan RSPO. Dengan luasan
                                                           mencapai 1.365 hektar, APKSM menghasilkan 5.010 ton CPO bersertifikat
                                                           RSPO, PKE 688 ton serta PKO 563 ton bersertifikat RSPO sehingga APKSM
                                                           berhasil mendapatkan insentif yang cukup baik dari penjualan kredit RSPO
                                                           sebesar 138.100 US$ atau setara Rp2 Miliar.

                                                           A total of 613 independent oil palm farmers assisted by SSMS who members
                                                           of the Association of Independent Palm Oil Farmers (APKSM) have again
                                                           managed in selling RSPO-certified sustainable palm oil to international
                                                           buyers through the RSPO trading platform scheme. With an area of 1,365
                                                           hectares, APKSM produced 5,010 tons of RSPO-certified CPO, 688 tons of
                                                           PKE, and 563 tons of RSPO-certified PKO so that APKSM managed to get a
  Petani Binaan SSMS Berhasil Menjual Minyak Sawit
                                                           fairly good incentive from the sale of RSPO loans of 138,100 US$, equivalent
      Berkelanjutan kepada Pembeli Internasional
Assisted Farmers of SSMS Succeed in Selling Sustainable    to Rp2 billion.
            Palm Oil to International Buyers




                                                           SSMS dan Yayasan BOS Kembali memindahkan 3 orangutan yang terdiri
                                                           dari 2 jantan (Lantang, Junior) dan 1 betina (Paraca) setelah menyelesaikan
                                                           tahap rehabilitasi di Sekolah Hutan Nyaru Menteng untuk melanjutkan
                                                           ke tahap pra-pelepasliaran di Gugusan Pulau Salat, Kabupaten Pulang
                                                           Pisau, Kalimantan Tengah. Dalam kegiatan pemindahan ini, SSMS bersama
                                                           Yayasan BOS menggandeng FORTASBI Indonesia (Forum Petani Kelapa
                                                           Sawit Berkelanjutan) dan Asosiasi Petani Kelapa Sawit Mandiri (APKSM)
                                                           untuk ikut terlibat dan berkontribusi dalam hal biaya operasional orangutan
                                                           dalam program pra-pelepasliaran orangutan. Kolaborasi antara SSMS,
                                                           Yayasan BOS, FORTASBI dan APSKM merupakan langkah awal keterlibatan
                                                           petani sawit swadaya yang bertujuan untuk mengedukasi petani akan
                                                           pentingnya perlindungan orangutan sebagai bagian dari perlindungan
                                                           hutan. Setelah pemindahan ini, total orangutan yang ada di Pulau Salat
                                                           akan menjadi 38 individu.

                                                           SSMS and the BOS Foundation have relocated 3 orangutans consists of
                                                           2 males (Lantang, Junior) and 1 female (Paraca) who have completed the
                                                           rehabilitation phase at the Nyaru Menteng Forest School to proceed to
                                                           the pre-release stage of rehabilitation in the Salat Island Cluster, Pulang
                                                           Pisau Regency, Central Kalimantan. In this transfer activity, SSMS together
                                                           with the BOS Foundation collaborated with FORTASBI Indonesia (Forum
                                                           of Sustainable Palm Oil Smallholders) and the Association of Independent
                                                           Palm Oil Farmers (APKSM) to be involved and contribute to the operational
                                                           costs of orangutans in the orangutan pre-release program. The
                                                           collaboration between SSMS, BOS Foundation, FORTASBI, and APSKM was
       SSMS Gandeng FORTASBI dan APKSM                     the first step in involving independent oil palm smallholders with aimed
    untuk Perlindungan Orangutan di Pulau Salat            to educate farmers on the importance of orangutan protection as part of
    SSMS Collaborates with FORTASBI and APKSM
                                                           forest protection. After this transfer, the total number of orangutans on Salat
        to Protect Orangutans on Salat Island
                                                           Island will be 38 individuals.




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                                                                       AGUSTUS
                                                                        August




                                                                          SSMS berhasil meraih penghargaan Silver Champion Category of Economy
                                                                          Element – Bidang Ekonomi Kreatif Berbasis Kearifan Lokal pada ajang Bisnis
                                                                          Indonesia Corporate Social Responsibility Awards (BISRA) tahun 2023 yang
                                                                          bertema “Corporate Social Responsibility Towards Climate Change Mitigation”
                                                                          ini digelar oleh Harian Bisnis Indonesia di Hotel Aryaduta Menteng, Jakarta
                                                                          pada Selasa, 15 Agustus 2023.

                                                                          SSMS awarded the Silver Champion Category of Economy Element
                                                                          – Creative Economy based on Local Wisdom on the Bisnis Indonesia
                                                                          Corporate Social Responsibility Awards (BISRA) 2023 event with the theme
                                                                          “Corporate Social Responsibility Towards Climate Change Mitigation which
                                                                          was held by Bisnis Indonesia Daily at Meteng Aryaduta Hotel, Jakarta on
                    SSMS Raih CSR Awards Kategori Economy Element
                                                                          Tuesday, August 15, 2023
                  SSMS Won CSR Awads for Category of Economy Element




                                                                       OKTOBER
                                                                        October




                                                                          Direktur Jenderal Perhutanan Sosial dan Kemitraan Lingkungan (PSKL)
                                                                          Kementerian Lingkungan Hidup dan Kehutanan (KLHK) Republik
                                                                          Indonesia, Bambang Supriyanto mengunjungi areal kemitraan antara
                                                                          SSMS dan Kelompok Tani Hutan (KTH) Karya Masoraian, yang berada di
                                                                          Kel. Kotawaringin Hilir, Kec. Kowaringin Lama, pada Senin, 30 Oktober
                                                                          2023. Dalam kunjungannya, Ditjen PSKL mengapresiasi SSMS atas inisiasi
                                                                          kemitraan Bersama 4 KTH di Wilayah Kotawaringin Barat. HKM Masoraian
                                                                          memiliki potensi yang luar biasa, dari segi wisata keanekaragaman hayati
                                                                          maupun cultural untuk meningkatkan skala ekonomi dan nilai tambah
                                                                          produk yang berada di areal kawasan tersebut.

                                                                          Director General of Social Forestry and Environmental Partnership (Ditjen of
                                                                          PSKL) of the Ministry of Environment and Forestry (KLHK) of the Republic
                                                                          of Indonesia, Bambang Supriyanto visited the partnership area between
                                                                          SSMS and the Karya Masoraian Forest Farmer Group (KTH), located in
                                                                          Kotawaringin Hilir Village, Kowaringin Lama District, on Monday, October
                                                                          30, 2023. During his visit, Ditjen of PSKL expressed his appreciation to SSMS
                                                                          for initiating partnerships with 4 KTHs in the West Kotawaringin area. HKm
                         Ditjen PSKL Kunjungi Areal Kemitraan HKM         Masoraian has tremendous potential, in terms of biodiversity and cultural
                            Antara SSM dan KTH Karya Masoraian            tourism. This certainly has the potential to increase economies of scale and
                         Ditjen of PSKLA Visits The Partnership Area      added value of products in the area.
                          Between SSMS and KTH Karya Masoraian




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                                                             OKTOBER
                                                              October




                                                                  SSMS melakukan penandatanganan perjanjian kerja sama dengan KTH
                                                                  Karya Masoraian di tahun ke-3 pada 15 Agustus 2023. Kemitraan yang sudah
                                                                  diinisiasi sejak tahun 2019 ini akan berfokus pada perlindungan kawasan dan
                                                                  pemberdayaan masyarakat serta penguatan dalam aspek pengembangan
                                                                  ekowisata dengan menyediakan fasilitas dan sarana pemberdayaan yang
                                                                  dibutuhkan komunitas seperti karamba ikan, stup madu kelulut, pos jaga,
                                                                  dan sarpras damkar.

                                                                  SSMS has signed the cooperation agreement with KTH Karya Masoraian in
                                                                  the 3rd year on August 15, 2023. This partnership has been initiated since
                                                                  2019 will have focus on area protection and community empowerment as
                                                                  well as strengthening aspects of ecotourism development by providing
                                                                  facilities and empowerment facilities needed by the community such as
                                                                  fish caramba, kelulut honey stop, guard posts, and fire sarpras.


          SSMS Tanda Tangani Perjanjian Kerja Sama
                Dengan KTH Karya Masoraian
       SSMS signed Agreement with KTH Karya Masoraian




                                                            NOVEMBER
                                                            November



                                                                  Pekebun Swadaya binaan SSMS dan Ecogreen yang tergabung dalam
                                                                  BUMDES Berkah Mulya Jaya (BMJ) resmi mendapatkan sertifikat Roundtable
                                                                  Sustainable Palm Oil (RSPO) yang berlangsung di Hotel Mulya Senayan,
                                                                  Jakarta pada Selasa, 21 November 2023. Sertifikat RSPO Independent
                                                                  Smallholder (RISS) ini diserahkan langsung oleh Executive Director RSPO,
                                                                  Joseph De Cruz kepada Direktur Bumdes Berkah Mulya Jaya, Choirul Fuadi
                                                                  di event tahunan Roundtable Conference (RT) RSPO 2023.

                                                                  Independent Smallholders assisted by SSMS and Ecogreen who are
                                                                  member of BUMDES Berkah Mulya Jaya (BMJ) officially received a
                                                                  certificate of Roundtable Sustainable Palm Oil (RSPO) which took place
                                                                  at Mulya Senayan Hotel, Jakarta on Tuesday, Novemer 21, 2023. The RSPO
  Pekebun Swadaya Binaan SSMS dan Ecogreen Terima Sertifikat      Independent Smallholder (RISS) certificate was handed over directly by
           RSPO di Event Internasional RT RSPO 2023               RSPO Executive Director, Joseph De Cruz to the Director of BUMDes Berkah
Independent Smallholders Assisted by SSMS and Ecogreen Receiver   Mulya Jaya, Choirul Fuadi at the 2023 annual RSPO Roundtable Conference
       RSPO Certificate at 2023 RT RSPO International Event       (RT).




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                                                                      NOVEMBER
                                                                      November



                                                                           SSMS kembali menerima penghargaan sebagai Analyst’s Favorite
                                                                           in the Consumer Non-Cyclicals Sector pada CSA Awards 2023 yang
                                                                           diselenggarakan oleh Asosiasi Analis Efek Indonesia (AAEI) dan Certified
                                                                           Securities Analyst (CSA) Community di Granada Ballroom, Menara 165,
                                                                           Jakarta Selatan pada hari Kamis, 23 November 2023. Acara yang mengusung
                                                                           tema Growth to Sustainability: Navigating the Capital Markets ini merupakan
                                                                           ajang penganugerahan yang diberikan kepada emiten yang memenuhi
                                                                           kriteria berdasarkan kinerja positif yang diukur dari berbagai aspek.

                                                                           SSMS receives award as as Analyst’s Favorite in the Consumer Non-Cyclicals
                                                                           Sector on CSA Awards 2023 organized by the Indonesian Securities Analysts
                                                                           Association (AAEI) and the Certified Securities Analyst (CSA) Community at
                                                                           Granada Ballroom, Menara 165, South Jakarta on Thursday, November 23,
                                                                           2023. The event with the theme Growth to Sustainability: Navigating the
                                  SSMS Raih CSA Awards 2023                Capital Markets is an awarding event given to issuers who meet the criteria
                                  SSMS Won CSA Awards 2023                 based on positive performance measured from various aspects.




                                                                           Tim innovator SSMS meraih penghargaan pada konvensi Inovasi Temu
                                                                           Karya Mutu & Produktivitas Nasional (TKMPN) ke XXVII tahun 2023 yang
                                                                           diselenggarakan di Hotel The Alana Convention Center, Yogyakarta pada
                                                                           27 sampai 30 november 2023. Ajang yang mengusung tema “Mewujudkan
                                                                           Generasi Emas melalui Green Innovation dan Productivity” ini diikuti oleh
                                                                           2174 peserta, 182 perusahaan, dan 562 tim dari perusahaan swasta nasional,
                                                                           perusahaan BUMN, perguruan tinggi dan organisasi laba dari seluruh
                                                                           Indonesia. Pada ajang ini, SSMS mengirimkan 3 tim yaitu Tim Lintang Sakti
                                                                           divisi Sulung Research Station, Tim Kreatif Pejuang Rupiah divisi Nanga Kiu
                                                                           Estate, dan Tim Phyton 3.10 divisi Sumber Cahaya Mill.

                                                                           SSMS’s Innovator Teams won an award at the XXVII National Quality &
                                                                           Productivity Meeting (TKMPN) Innovation in 2023 organized in The Alana
                                                                           Convention Center Hotel, Yogyakarta on November 27 – 30, 2023. This
                                                                           event with theme “Realizing a Golden Generation through Green Innovation
                                                                           and Productivity” was attended by 2,174 participants, 182 companies and
                                                                           562 teams from national private companies, State-Owned companies,
                                                                           universities and profit organization across Indonesia. In this event, SSMS
                                                                           sent 3 teams, namely Lintang Sakti Team from Division of Sulung Research
             Tim Inovator SSMS Meraih Medali pada Ajang TKMPN XXVII 2023   Station, Kreatif Pejuang Rupiah Team from Division of Nanga Kiu Estate, and
               SSMS’s Innovator Teams Won Medals at the 2023 TKMPN XXVII
                                                                           Phyton 3.10 team from Division of Sumber Cahaya Mill.




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                                                                                                                        KILAS KINERJA 2023
                                                                                                                         2023 PERFORMANCE HIGHLIGHT   01




                                                       DESEMBER
                                                       December



                                                          EarthQualizer melakukan kunjungan ke SSMS untuk membahas komitmen
                                                          SSMS dalam menjalankan praktik bisnis berkelanjutan serta menjaga
                                                          dan memelihara kondisi lingkungan sekitarnya. Dalam kunjungan
                                                          tersebut, SSMS memastikan komitmennya dalam menerapkan kebijakan
                                                          keberlanjutan yang tercermin dalam berbagai standar dan sertifikasi
                                                          keberlanjutan yang dimiliki Perusahaan, baik lokal maupun internasional.
                                                          Kebijakan Keberlanjutan SSMS tidak hanya berlaku bagi internal perusahaan
                                                          namun juga termasuk pemasok atau mitra.

                                                          EarthQualizer has visited SSMS to discuss regarding SSMS’s commitment
                                                          in implementing sustainable business practices and maintaining the
                                                          condition of the surrounding environment. During the visit, SSMS confirmed
 Kunjungan EarthQualizer ke SSMS Bahas Komitmen           its commitment to implementing sustainability policies which are reflected
           Wujudkan Sawit Berkelanjutan                   in the Company’s various sustainability standards and certifications, both
EarthQualizer Visited SSMS to Discuss The Commitment      locally and internationally. SSMS Sustainability Policy does not only apply to
              to Realize Sustainable Palm                 the Company’s internal but also includes suppliers or partners.




                                                          Menjelang penutupan akhir tahun 2023, SSMS telah merampungkan
                                                          sertifikasi RSPO, ISCC, dan HAM untuk seluruh unit bisnis sebagai wujud
                                                          komitmen keberlanjutan SSMS. Sertifikasi ini juga digunakan untuk
                                                          memastikan keberlanjutan produk yang dihasilkan telah memenuhi standar
                                                          dan juga sebagai tanggung jawab SSMS terhadap lingkungan.

                                                          Towards the end of 2023, SSMS has completed RSPO, ICC, and HAM
                                                          Certificates for All Business Units as a form of SSMS’s sustainability
                                                          commitment. This certification is also used to ensure the sustainability of
                                                          products have met standards and is also as SSMS’s accountability to the
    SSMS Rampungkan Sertifikasi RSPO, ISCC,               environment.
        dan HAM untuk Seluruh Unit Bisnis
  SSMS Completed RSPO, ICC, and HAM Certificates
              for All Business Units




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                                            LAPORAN MANAJEMEN
                                                        MANAGEMENT REPORT   02




  LAPORAN
                    02
MANAJEMEN
         MANAGEMENT REPORT




Perseroan mampu menghadapi berbagai tantangan
dengan strategi operasional dan keuangan yang tepat,
memfasilitasi inovasi dan riset pengembangan secara
terus menerus, serta memastikan keberlangsungan
usaha dengan kemampuan dan sumber daya yang
cukup untuk berkembang. Tahun 2023 sektor hulu
SSMS telah meraih 100% sertifikasi RSPO dan ISPO.

The Company is able to response various challenges
with appropriate operational and financial strategies,
facilitating continuous innovation and development
research, as well as ensuring the business sustainability
with sufficient capabilities and resources to grow. In
2023, SSMS’s upstream sectors achieved 100% RSPO
and ISPO certified.

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      LAPORAN DEWAN KOMISARIS
      BOARD OF COMMISSIONERS REPORT




      PROF. DR. IR.
      BUNGARAN
      SARAGIH
      Komisaris Utama
      President Commissioner




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                                                                                                                  LAPORAN MANAJEMEN
                                                                                                                              MANAGEMENT REPORT   02



                Dewan Komisaris (BOC) memiliki pandangan yang sejalan dengan Direksi
        bahwa SSMS siap untuk mewujudkan potensi bisnis masa depan, baik dari hulu maupun hilir.

 The Board of Commissioners shares the Board of Directors’ perspective that SSMS is poised for extensive
                    future business prospects, both in upstream and downstream.




Pemegang Saham yang terhormat,                                     Dear Distinguished Shareholders,


Di tengah perekonomian global yang dinamis dan situasi             Against the backdrop of global economic dynamic and
geopolitik yang secara umum penuh tantangan, pemulihan             geopolitical challenges, Indonesia’s economic rebound persisted
ekonomi Indonesia terus berlanjut sepanjang tahun 2023.            throughout 2023, showcasing steadfast growth, macroeconomic
Hal ini ditunjukkan oleh pertumbuhan yang kuat, kestabilan         stability, and financial resilience. Notably, Indonesia sustained a
makroekonomi, dan ketahanan keuangan. Patut dicatat bahwa          cumulative Gross Domestic Product (GDP) growth in the range of
Indonesia berhasil mempertahankan pertumbuhan Produk               5.00%, namely at 5.05% in 2023, with the inflation rate holding at
Domestik Bruto (PDB) kumulatif pada kisaran 5.00%, yaitu sebesar   2.61% year-on-year as of December 2023.
5,05% pada tahun 2023, dengan tingkat inflasi bertahan di 2,61%
secara tahunan per Desember 2023.


Ketahanan ekonomi Indonesia ditopang oleh berbagai sektor,         The nation’s economic resilience found impetus in various
terutama sektor ekspor dan sawit menjadi salah satu komoditas      sectors, notably export sector and palm oil is one of commodities
penyumbang ekspor terbesar untuk Indonesia. Data BPS               which have big contribution to Indonesia’s exports. BPS data
menunjukkan, ekspor sawit di sepanjang 2023 berkontribusi 9,87%    shows that palm oil exports in 2023 contributed 9.87% to non-oil
untuk eskpor nonmigas. Meskipun begitu, di tahun 2023 industri     and gas exports. However, in 2023 the palm oil industry has faced
sawit justru menghadapi tekanan baik dari dalam negeri dan         pressure from domestic and foreign sources which originating
luar negeri. Tekanan dalam negeri berasal dari ongkos produksi     from increased production costs and uncertain global conditions
yang terus meningkat, sedangkan dari luar negeri adalah potensi    which cause the fluctuating selling prices.
ekspor yang tertekan karena ketidakpastian kondisi global yang
menyebabkan harga jual menjadi fluktuatif.


PT Sawit Sumbermas Sarana Tbk (“SSMS” atau “Perseroan”)            PT Sawit Sumbermas Sarana Tbk (“SSMS” or the “Company”)
bangga dapat melewati tahun 2023 dengan baik, bahkan turut         is delighted to have passed 2023 well, even play its role for
berperan dalam keberlanjutan industri kelapa sawit. Kami           sustainability of palm oil industry. We express gratitude for
bersyukur atas keberhasilan menavigasi tahun 2023, sebagaimana     successfully navigating 2023, as outlined in this annual report.
diuraikan dalam laporan tahunan ini.


Pandangan Terhadap Kinerja Direksi                                 Board Of Directors’ Performance

Sejalan dengan tanggung jawab pengawasan dan pengarahan            Aligned with the Board of Commissioners’ (BOC) oversight and
Dewan Komisaris, kami turut memastikan pengelolaan Perusahaan      advisory responsibilities, we ensured responsible management
secara bertanggung jawab sepanjang tahun 2023. Untuk itu,          of the Company throughout 2023. This involved regular meetings
Dewan Komisaris telah melakukan pertemuan rutin untuk              to review progress against business plans, offering insights on
meninjau kemajuan pelaksanaan rencana bisnis, memberikan           industry developments, and other relevant inputs such as cost
panduan tentang perkembangan industri, dan pandangan relevan       control and so on.
lainnya, seperti pengendalian biaya dan lainnya.


Dalam pengamatan kami, Direksi dengan cermat menganalisis          The Board of Directors diligently analysed industry conditions,
kondisi industri, tantangan bisnis, dan peluang pada tahun 2023.   business challenges, and opportunities in 2023. There were
Terdapat tantangan yang signifikan yang terjadi di tahun 2023,     challenges, such as the elevated in production costs and
seperti kenaikan biaya produksi dan harga jual yang fluktuatif.    fluctuating selling prices. However, by prudent management of
Namun, dengan pengelolaan risiko yang berprinsip pada kehati-      risks and appropriate strategic execution, the Board of Directors
hatian dan pelaksanaan strategis yang tepat, Direksi dapat         may overcome these challenges and maintain the continuity of
mengatasi tantangan ini dan menjaga keberlangsungan bisnis         the Company’s business growth continued to be robust.
Perusahaan untuk tetap tumbuh dengan sehat.




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      Kami memandang Direksi telah secara baik dalam                      Furthermore, the Board of Directors did not fail to consider the
      memperhitungkan dampak berkelanjutan, dari penyelesaian             ongoing impact of the settle part of debt of PT Citra Borneo Indah
      sebagian utang PT Citra Borneo Indah (“CBI”) melalui pengalihan     (“CBI”) by handing over shares of CBI in PT Citra Borneo Utama Tbk
      kepemilikan saham milik CBI pada PT Citra Borneo Utama Tbk          (“CBUT”) to the Company. Thus, the Company’s overall share in
      (“CBUT”) kepada Perseroan. Dengan demikian, secara keseluruhan      CBUT is 78.22% where 70.2% share owned directly by the Company,
      saham Perseroan di CBUT menjadi sebesar 78,22% dimana 70,22%        4% share owned indirectly by KSA, and 4% share owned indirectly
      saham dimiliki langsung oleh Perseroan, 4% saham dimiliki tidak     by MMS. By this strategy, we analyse that the Board of Directors
      langsung melalui PT Kalimantan Sawit Abadi (KSA), dan 4% saham      continues to encourage the Company to pursue downstream
      dimiliki tidak langsung melalui PT Mitra Mendawai Sejati (MMS).     palm oil derivative products.
      Melalui strategi ini, kami melihat komitmen Direksi untuk terus
      mendorong Perseroan dalam hilirisasi dari produk turunan minyak
      kelapa sawit.


      Direksi dengan mahir menghadapi berbagai tantangan dengan           The Board of Directors adeptly responded to the business
      strategi operasional dan keuangan yang tepat, memfasilitasi         condition with appropriate operational and financial strategies,
      inovasi dan riset pengembangan secara terus menerus. Dewan          facilitating continuous innovation and development research.
      Komisaris juga mengapresiasi Direksi yang telah melunasi obligasi   We also appreciated that the Board of Directors has been paid
      global yang telah sesuai dengan jadwal tempo pembayaran,            off global bonds worth US$300 million or equivalent with IDR4.5
      senilai US$300 juta atau setara Rp4,5 triliun yang diterbitkan      trillion which were published in Singapore Exchange in 2018. This
      di Bursa Singapura pada tahun 2018. Langkah strategis ini           strategic step ensured that SSMS had enough funds and various
      memastikan SSMS memiliki kemampuan dan berbagai sumber              resources to grow.
      daya yang cukup untuk berkembang.


      Strategi lain termasuk memastikan keberlanjutan produk yang         Other strategies included to ensure the sustainability of products
      dihasilkan melalui perampungan berbagai sertifikasi seperti         have completed various certification such as RSPO, ISCC, and
      sertifikasi RSPO, ISCC, dan HAM untuk seluruh unit bisnis           Human Rights for all business units. This effort was carried out
      Perseroan. Upaya tersebut dilakukan sebagai wujud komitmen          as a manifestation of SSMS’s sustainability commitment to make
      keberlanjutan SSMS untuk menjadikan Perseroan sebagai               SSMS as a world-class company, in line with the Company’s vision
      perusahaan Perkebunan berkelas dunia, yang sejalan dengan visi      and mission.
      misinya.


      Strategi tersebut membuahkan hasil nyata, dibuktikan dengan         These strategies yielded tangible results, evidenced by total
      pencapaian total produksi TBS di tahun 2023 yang mencapai           FFB production in 2023 reached 2,345,131 MT, an increase of 3%
      2.345.131 MT, naik sebesar 3% dari tahun 2022 yang sebesar          of total productions in 2022 was of 2,278,821 MT. The FFB will be
      2.278.821 MT. Dari TBS tersebut kemudian diolah di pabrik           processed in our Palm Oil Mills which results in total production of
      pengolahan kelapa sawit kami yang menghasilkan total produksi       palm oil products of 2,197,816 MT, an increase 24% from last year.
      produk-produk kelapa sawit sebesar 2.197.816 MT, naik 24% dari      Likewise, product sales volume increased by 13% from 1,321,396
      tahun lalu. Begitu pun dengan volume penjualan produk yang          MT to 1,488,795 MT, which also contributed to the growth of the
      meningkat sebesar 13% dari 1.321.396 MT menjadi 1.488.795 MT        Company’s profit to Rp518 billion. Meanwhile, gross profit of
      yang juga ikut mendorong pertumbuhan laba Perseroan menjadi         Rp2,799 billion, constituting 26% of total revenue in 2023 of Rp10.7
      Rp518 miliar. Sementara laba kotor sebesar Rp2.799 miliar, yang     trillion.
      merupakan 26% dari total penjualan pada tahun 2023 sebesar
      Rp10,7 triliun.




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Selanjutnya, total aset tumbuh sebesar 6% menjadi Rp11,8 triliun      Furthermore, total assets surged 6% to Rp11.8 trillion from Rp11.1
dari Rp11,1 triliun, terutama didorong oleh peningkatan aset          trillion, primarily driven by increases in current assets of 8% and
lancar sebesar 8% dan aset tidak lancar sebesar 4%. Liabilitas juga   non-current assets of 4%. Liabilities also witnessed a 8% increase,
mengalami peningkatan sebesar 8%, sehingga mencapai Rp9,8             reaching Rp9.8 trillion in 2023 compared to the previous year of
triliun pada tahun 2023 dibanding tahun lalu yang sebesar Rp9,1       Rp9.1 trillion.
triliun.


Dewan    Komisaris    memandang,     pencapaian    ini telah          The BOC deems these achievements position SSMS strategically
memposisikan SSMS secara strategis untuk meraih pertumbuhan           for sustained growth.
yang berkelanjutan pada tahun-tahun mendatang.


Pandangan Terhadap Prospek Usaha                                      Business Prospects

Melihat dari sisi ekonomi makro, sejatinya industri minyak kelapa     In a macroeconomic perspective, the Indonesian palm oil industry
sawit Indonesia berdaya saing tinggi dan masih mempunyai              is highly competitive and still has growth potential. Indonesia has
potensi pertumbuhan. Saat ini Indonesia telah dikenal dunia           long been known as one of the largest suppliers of palm oil in
sebagai salah satu pemasok minyak kelapa sawit terbesar di            the world. Apart from that, palm oil derivative products that can
dunia. Selain itu, produk turunan minyak kelapa sawit yang bisa       be processed into comestibles are a primary human need that is
diolah menjadi bahan pangan merupakan kebutuhan primer                always sought after. Moreover, Indonesia’s 2024 growth forecast
manusia yang selalu dicari. Apalagi perkiraan pertumbuhan             remains generally positive, projected at approximately 5.2%.
Indonesia pada 2024 secara umum tetap positif, dengan proyeksi
pada tingkat sekitar 5,2%.
                                                                      Against this background, the Board of Commissioners shares the
Menimbang latar belakang tersebut, Dewan Komisaris memiliki           Board of Directors’ perspective that SSMS is poised for extensive
pandangan yang sejalan dengan Direksi bahwa SSMS siap untuk           future business prospects, both in upstream and downstream.
mewujudkan potensi bisnis masa depan, baik dari hulu maupun           The Company conducted product downstream through its
hilir. Hilirisasi produk kelapa sawit melalui anak perusahaan         subsidiaries underscores its seriousness in continuing to develop
merupakan keseriusan SSMS untuk terus mengembangkan bisnis            business in a sustainable manner by paying attention to economic,
secara berkelanjutan dengan memperhatikan aspek ekonomi,              environmental, social and governance (ELST) aspects which
lingkungan, sosial dan tata kelola (ELST) yang menunjukkan            shows alignment with the Company’s commitment and vision and
keselarasan dengan komitmen dan visi misi Perseroan.                  mission.


Ke depan, Dewan Komisaris terus berkomitmen untuk                     Moving forward, the Board of Commissioners remains committed
mendukung pelaksanaan yang efektif dari semua strategi bisnis         to facilitating the effective execution of all business strategies
yang dirancang oleh Direksi serta memastikan terciptanya nilai        devised by the Board of Directors, ensuring optimal values are
yang optimal bagi pemegang saham dan pemangku kepentingan.            generated for shareholders and stakeholders.




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      Pandangan Tentang Penerapan Tata Kelola Perusahaan                          Corporate Governance Implementation

      Dewan Komisaris mengapresiasi konsistensi Direksi membawa                   The Board of Commissioners appreciates that the Company
      Perseroan untuk mengacu kepada praktik-praktik tata Kelola                  consistently refers to best g practices. The Company is aware
      terbaik. Perseroan menyadari pentingnya peran penting                       of the important role of good corporate governance (GCG)
      penerapan tata kelola perusahaan yang baik (GCG) terhadap                   implementation on the Company’s business continuity. GCG
      kelangsungan usaha Perseroan. GCG menyediakan koridor                       provides a corridor for an ethical management of a business,
      untuk pengelolaan bisnis yang etis, di mana tujuan keuangan                 where financial aims are realized without abandoning corporate
      diwujudkan tanpa meninggalkan tanggung jawab Perseroan                      responsibilities towards communities and the environment.
      terhadap masyarakat dan lingkungan.


      Penerapan GCG di Perseroan berangkat dari integritas kuat yang              The Company’s adoption of GCG is founded on unwavering
      memastikan bahwa prinsip-prinsip tata kelola yang sehat terintegrasi        integrity, ensuring that principles of sound governance permeate
      dengan setiap aspek organisasi dan menjadi panduan bagi semua               every aspect of the organization and guide all business
      upaya bisnis menuju operasi yang konsisten dan berkelanjutan.               endeavours toward consistent and sustainable operations. To
      Untuk mewujudkan komitmen terhadap tata kelola yang baik ini,               actualize this commitment to good governance, the Company
      Perseroan mematuhi prinsip-prinsip dasar yang dituangkan dalam              abides by the fundamental principles outlined in the 2021
      Pedoman Umum Tata Kelola Perusahaan Indonesia (PUG-KI) 2021,                Indonesia Corporate Governance General Guidelines (PUG-KI),
      yang baru-baru ini direvisi oleh Komite Nasional Kebijakan Tata Kelola      which have been recently revised by the Governance Policy
      (KNKG). Prinsip-prinsip ini mencakup Perilaku Etis, Akuntabilitas,          National Committee (KNKG). These principles encompass Ethical
      Transparansi, dan Keberlanjutan, yang berfungsi sebagai landasan            Conduct, Accountability, Transparency, and Sustainability, serving
      bagi kerangka kerja tata kelola Perusahaan.                                 as cornerstones for the Company’s governance framework.


      Sebagai bagian dari sistem tata kelola Perusahaan, Dewan Komisaris          As part of the Company’s governance system, the Board of
      berkomitmen untuk memenuhi perannya sebaik mungkin. Pada                    Commissioners is committed to fulfil its role to the best of its ability. In
      tahun 2023, Dewan Komisaris mengadakan 7 (tujuh) kali rapat dan             2023, the Board of Commissioners met 7 (seven) times and attended
      menghadiri 8 (delapan) kali rapat gabungan dengan Direksi untuk             8 (eight) times joint meetings with the Board of Directors to discuss
      membahas isu-isu bisnis strategis . Rapat-rapat ini merupakan bagian        strategic business issues. These meetings were part of the Board of
      dari pelaksanaan peran penasihat dan pengawasan Dewan Komisaris,            Commissioners’ exercise of its advisory and supervisory role, offering
      memberikan pedoman untuk kepentingan terbaik Perseroan.                     inputs in the best interest of the Company.


      Perubahan Susunan Dewan Komisaris                                           Changes In The Board Of Commissioners Composition

      Sesuai dengan keputusan Rapat Umum Pemegang Saham                           In accordance with the resolution of the Independent and
      Luar Biasa dan Independen pada 5 Desember 2023, tidak ada                   Extraordinary General Meeting of Shareholders on December 5,
      perubahan pada susunan Dewan Komisaris.                                     2023, the were no changes to the composition of the Board of
                                                                                  Commissioners.


      Apresiasi                                                                   Appreciation

      Pencapaian Perseroan selama ini diraih berkat dukungan yang                 The Company’s achievements over the years have been made
      berkesinambungan dari seluruh pemangku kepentingan. Dewan                   possible by the unwavering support of all stakeholders. We extend
      Komisaris mengucapkan terima kasih kepada Direksi dan                       our gratitude to the shareholders and Board of Directors for their
      seluruh elemen organisasi atas komitmen terhadap pelaksanaan                steadfast commitment to their roles. Our heartfelt thanks go out to
      perannya. Kami juga menyampaikan terima kasih yang tulus                    the diligent employees whose dedication has been instrumental.
      kepada karyawan atas dedikasi dan kerja keras mereka. Selain itu,           Last but not least, we sincerely appreciate our customers
      tak kalah penting, kami sangat menghargai pelanggan yang telah              for placing their trust in SSMS to fulfill their requirements for
      memercayai SSMS untuk memenuhi kebutuhan terhadap minyak                    dependable and trusted palm oil.
      kelapa sawit yang berkualitas.


                                                                    Jakarta, 3 April 2024
                                                                    Jakarta, April 3, 2024




                                                             Prof. Dr. Ir. Bungaran Saragih
                                                                     Komisaris Utama
                                                                  President Commissioner



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                                                                       LAPORAN MANAJEMEN
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                   Prof. Dr. Ir. Bungaran Saragih
                              Komisaris Utama
                           President Commissioner

      Hoesen                                        Ir. Rimbun Situmorang
   Komisaris Independen                                     Komisaris
Independent Commissioner                                  Commissioner




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      LAPORAN DIREKSI
      BOARD OF DIRECTORS REPORT




      NASARUDIN
      BIN NASIR
      Direktur Utama
      President Director




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   Pada tahun 2023, Perusahaan tetap berfokus untuk menumbuhkan keberlanjutan usaha ke depan
   melalui diversifikasi produk, inovasi dan riset pengembangan produk sawit untuk menjadi penyedia
     produk sawit yang menyeluruh dari hulu ke hilir, sesuai dengan visi kami menjadi perusahaan
                                          perkebunan kelas dunia.

The Board of In 2023, the Company maintained its focus on growing its business sustainability in the future
 through product diversification, innovation and development research of palm oil products to become a
comprehensive provider of palm oil products from upstream to downstream, in accordance with our vision
                              to become a world-class plantation company.




Para Pemegang Saham yang terhormat,                                Dear Esteemed Shareholders,


Berlandaskan visi untuk menjadi perusahaan perkebunan              PT Sawit Sumbermas Sarana Tbk (“SSMS” or the “Company”)
berkelas dunia, PT Sawit Sumbermas Sarana Tbk (“SSMS” atau         delivered satisfactory achievement in 2023, guided by a vision
“Perseroan”) memberikan pencapaian yang memuaskan pada             of becoming a World-Class Plantation Company. The Company
tahun 2023. Perseroan secara optimal memberikan pencapaian         optimally achieves better performance amidst challenging global
kinerjanya yang lebih baik di tengah kondisi perekonomian global   economic conditions. We are thankful for Company’s success,
yang penuh tantangan. Kami bersyukur atas keberhasilan ini,        which enabled us to continue to provide value for our stakeholders
sehingga Perseroan dapat terus memberikan nilai tambah bagi        and shareholders throughout the year.
para pemangku kepentingan dan pemegang saham sepanjang
tahun.


Tinjauan Makroekonomi                                              Macroeconomic Review

Perkembangan ekonomi global pada tahun 2023 dipengaruhi            Global economic developments in 2023 were impacted by
oleh ketegangan geopolitik yang menyebabkan kenaikan biaya         geopolitical tensions, which led to increased costs for food and
pangan dan minyak serta inflasi dalam perekonomian dunia.          oil as well as inflation worldwide. To maintain the stability of the
Untuk menjaga stabilitas nilai tukar Rupiah dan sebagai respons    rupiah exchange currency in reaction to those developments,
terhadap perkembangan ini, Bank Indonesia (BI) menaikkan suku      Bank Indonesia (BI) increased its benchmark interest rate (BI7DRR)
bunga acuan (BI7DRR) sebanyak dua kali, yakni ke tingkat 5,75%     to 5.75% in January 2023 and then to 6.00% in October 2023.
pada Januari 2023 dan ke tingkat 6,00% pada Oktober 2023.


Secara kumulatif, perekonomian Indonesia tetap kuat, meski         Cumulatively Indonesia’s economy continued to be robust,
pertumbuhan Produk Domestik Bruto (“PDB”) pada tingkat 5,05%       although Gross Domestic Product (“GDP”) growth at 5.05% in 2023
melambat dibandingkan 5,31% pada tahun 2022. Namun demikian,       showed a slowdown compared to 5.31% in 2022. Nevertheless, the
pertumbuhan masih berada di kisaran 5%, bahkan melampaui           figure remained in the 5%-zone, which was higher than projected.
proyeksi.


Konsumsi domestik yang kuat menjadi pendorong utama                Strong domestic consumption was Indonesia’s main growth
pertumbuhan Indonesia, namun sektor industri lainnya juga          engine, but other commercial sectors also fared well. Among
memperlihatkan performa yang baik. Di antaranya adalah sektor      these was the export sector, which in 2023 accounted for 1.32%
ekspor, yang pada tahun 2023 menyumbang 1,32% terhadap PDB         of the nation’s GDP, growing by 1.10% year over year. Data trends
nasional dan tumbuh sebesar 1,10% secara tahunan. Tren data        show that Indonesia’s exports worth USD258.82 billion are still
menunjukkan bahwa ekspor Indonesia senilai USD258,82 miliar        concentrated in China with a share of 25.66%, United States with
masih terkonsentrasi di negara Tiongkok dengan share 25,66%,       a share of 9.57%, and India with a share of 8.35%. Meanwhile,
Amerika Serikat dengan share 9,57%, dan India dengan share         Indonesia’s exports to ASEAN and Eropean Union each have
8,35%. Sementara ekspor Indonesia menuju ASEAN dan Uni Eropa       a share of 18.35% and 6.78% of Indonesia’s total exports in 2023
masing-masing memiliki share 18,35% dan 6,78% terhadap total       and the palm industry remains the main commodity for national
ekspor Indonesia di tahun 2023 dan industri kelapa sawit masih     exports with a value of USD21.31 billion per September 2023.
tetap menjadi komoditas andalan ekspor nasional dengan nilai
USD21,31 miliar per September 2023.




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      Sehubungan dengan industri kelapa sawit secara khusus, situasi                             With respect to the palm oil industry, the market underwent
      pasar mengalami perubahan signifikan setelah adanya beragam                                substantial changes, particularly after several pressure from
      tekanan, baik tekanan dalam negeri maupun global. Tekanan                                  domestic and global. Domestic pressure occurs from increasing
      dalam negeri terjadi dengan meningkatnya biaya produksi yang                               production costs which were also accompanied by decreasing
      juga diiringi dengan produktivitas sawit yang menurun. Mengutip                            palm oil productivity. Data from Central Statistics Agency (“CSA”)
      data Badan Pusat Statistik (“BPS”), produktivitas kelapa sawit                             shows Indonesia’s palm oil productivity level in 2022 was at 3.68
      di Indonesia mencapai 3.68 ton per hektare (kg/ha) pada 2022,                              tons per hectare, a decrease compared to 2019 which was 3.97
      mengalami tren penurunan dibandingkan dengan 2019 yang                                     tons per hectare and 2018 which was 3.66 tons per hectare. This
      sebesar 3,97 ton per hektar dan 2018 yang sebesar 3,66 ton per                             decline in productivity was triggered by irregular replanting so
      hektar. Faktor penyebab menurunnya produktivitas ini dipicu                                that crop productivity was not optimal, and the use of fertilizers
      oleh penanaman ulang yang tidak teratur sehingga produktivitas                             was below the recommended dose due to expensive and scarce
      panen tidak optimal, dan penggunaan pupuk di bawah dosis yang                              fertilizers.
      dianjurkan akibat mahal dan langkanya pupuk.



                                                                                                                                                      (kg/Ha)



                    Produktivitas Kelapa Sawit di Indonesia 2016-2022
                    Indonesia’s Palm Oil Productivity 2016-2022

                                                                                                 3.974




                                                                                                                         3.814




                                                                                                                                              3.745




                                                                                                                                                                       3.683
                                               3.633




                                                                          3.666
                   3.560




            2016                        2017                       2018                   2019                    2020                 2021                     2022
                                                       Sumber: Badan Pusat Statistik (BPS) | Source: Central Statistics Agency (CSA)




      Mengatasi tantangan di atas, Pemerintah telah melaksanakan                                 To overcome the challenges above, the Government has
      program Peremajaan Sawit Rakyat (PSR) yang dalam kurun waktu                               implemented the Smallholders Palm Oil Rejuvenation (PSR)
      2017 – 2023 sudah mencapai 306 ribu hektar untuk 134 ribu petani                           program for 2017 – 2023 period and has reached 306 thousand
      dengan total dana yang disalurkan Rp8,5 triliun. Pemerintah juga                           hectares for 134 thousand smallholders with total funds disbursed
      telah memberikan bantuan benih, pupuk, pestisida dan mesin                                 Rp8.5 trillion. The Government has also provided assistance for
      pertanian setotal Rp127 miliar untuk 7.000 orang petani sawit.                             seeds, fertilizer, pesticides and agricultural machinery with a total
                                                                                                 of Rp127 billion for 7,000 palm oil smallholders.


      Sementara faktor eksternal dipicu dari ketidakpastian ekonomi                              Meanwhile, external factors were triggered by global economic
      global yang membuat laju pertumbuhan ekonomi dunia                                         uncertainty which resulted the rate of world economic growth
      melambat, sehingga berdampak pada permintaan ekspor yang                                   slowing down, so that the selling price of crude palm oil (CPO)
      menurun. Hal ini mengakibatkan harga jual minyak kelapa sawit                              in the world market to tend to decline. Data from the Central
      (CPO) di pasar dunia pun cenderung menurun. Mengutip data                                  Statistics Agency/Bada Pusat Statistik (BPS) stated the selling
      Badan Pusat Statistik (BPS), harga jual CPO pada November 2022                             price of CPO in November 2022 was around USD954.7 per metric
      di kisaran USD954,7 per metrik ton, sementara pada November                                ton, while in November 2023 it fell to USD830.5 per metric ton.
      2023 turun menjadi USD830,5 per metrik ton. Selain itu, kebijakan                          Apart from that, the European Union Deforestation Free (EUDR)
      European Union Deforestation Free (EUDR) yang berpotensi                                   Policy which has potential to exclude the palm oil industry from
      mengeluarkan industri sawit dari rantai pasok global juga menjadi                          global supply chain and it becomes a challenge for the palm oil
      tantangan di industri sawit.                                                               industry.


      Keadaan ekonomi dan industri tersebut memberi Perseroan                                    The state of the economy and industry above presented the
      sejumlah peluang, diantaranya melalui diversifikasi produk yang                            company with a number of opportunities, among others by product
      berfokus pada hilirisasi produk turunan minyak kelapa sawit.                               diversification which focuses on downstream of crude palm oil
      Selain itu, inovasi dan riset pengembangan juga menjadi peluang                            derivative products. In addition, innovation and development
      baru bagi Perseroan untuk dapat menjaga pertumbuhan usaha ke                               research are also new opportunities for the Company to be able
      depan.                                                                                     to maintain future business growth.



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Tujuan Strategi                                                         Strategy Objectives

Perkebunan dan produksi minyak kelapa sawit merupakan dua               Plantation and Palm Oil production comprise the two business
segmen bisnis utama SSMS dan anak perusahaannya. Sebagai                segments of the Company and its subsidiaries. As the Company’s
pengambil keputusan utama di dalam tubuh Perusahaan, Direksi            primary decision-maker, the Board of Directors monitors operating
memantau hasil operasi masing-masing unit bisnis secara terpisah        outcomes of each business unit independently to inform choices
untuk dapat mengambil keputusan yang matang mengenai                    regarding resource allocation and performance evaluation based
alokasi sumber daya dan kinerja segmen yang dilihat berdasarkan         on the segments’ bottom-line achievements.
pencapaian laba dan rugi.


Pada tahun 2023, Perusahaan tetap berfokus untuk menumbuhkan            In 2023, the Company maintained its focus on growing its business
keberlanjutan usaha dengan pengembangan dan akuisisi anak               sustainability by development and acquisition of subsidiary
usaha, melalui penyelesaian sebagian utang PT Citra Borneo              through settle part of debt of PT Citra Borneo Indah (“CBI”) by
Indah (“CBI”) dengan mengalihkan kepemilikan saham milik CBI            handing over shares of CBI in PT Citra Borneo Utama Tbk (“CBUT”)
pada PT Citra Borneo Utama Tbk (“CBUT”) kepada Perseroan,               to the Company, provides new opportunities in downstream palm
memberi peluang baru dalam hilirisasi produk sawit dan                  oil products product diversification. Thus, the Company’s overall
diversifikasi produk. Dengan demikian, secara keseluruhan saham         share in CBUT is 78.22% where 70.2% share owned directly by the
Perseroan di CBUT adalah sebesar 78,22% dimana 70,22% saham             Company, 4% share owned indirectly by KSA, and 4% share owned
dimiliki langsung oleh Perseroan, 4% saham dimiliki tidak langsung      indirectly by MMS.
melalui KSA, dan 4% saham dimiliki tidak langsung melalui MMS.


Strategi lain yang kami jalankan untuk memastikan keberlangsungan       We implemented another strategy which relate to our business
usaha Perseroan adalah dengan merampungkan berbagai sertifikasi         sustainability. We have completed various certifications to meet
seperti sertifikasi Rountable Susutainable Palm Oil (RSPO), Indonesia   the sustainability such as Rountable Susutainable Palm Oil (RSPO),
Sustainable Palm Oil (ISPO), International Sustainability and Carbon    Indonesia Sustainable Palm Oil (ISPO), International Sustainability
Certification (ISCC), dan Business and Human Rights International       and Carbon Certification (ISCC), and Business and Human Rights
Standards for Certification 2011 (BHRISC) untuk Hak Asasi Manusia       International Standards for Certification 2011 (BHRISC) for Human
(HAM) untuk seluruh unit bisnis Perseroan.                              Right for all the Company’s business units.


Di tahun 2023 ini, kami dapat dengan bangga menyatakan                  In 2023, we are delighted to say that our upstream product
keberlanjutan produk hulu yang dihasilkan Perseroan telah 100%          sustainability has 100% of RSPO, and ISPO certified.
tersertifikasi RSPO dan ISPO.


Meskipun begitu, kami menyadari masih banyak tantangan yang             However, we realize that there are still many challenges that must
harus dihadapi, salah satunya adalah terkait biaya produksi yang        be faced, one of which is related to production costs which are
semakin meningkat. Mengatasi hal ini, Perseroan dengan lincah           increased. To overcome this, the Company is agile in implementing
menjalankan strategi pengendalian biaya melalui peningkatan             cost control strategies by increasing worker productivity so that it
produktivitas pekerja sehingga dapat menghasilkan operasional           can produce excellent operations.
yang excellent.


Peran Direksi dalam Perumusan dan Implementasi                          Board of Directors’ Role in Strategy Formulation and
Strategi                                                                Implementation

Dalam menetapkan strategi Perusahaan, Direksi mengevaluasi              The Board of Directors evaluated opportunities and challenges
peluang dan tantangan secara teratur dalam rapat-rapat Direksi.         to establish company strategies and discussed them in board
Kami juga mempertimbangkan masukan dari pihak-pihak terkait,            meetings. We also considered the input from relevant parties,
seperti Dewan Komisaris, yang secara rutin memberikan masukan           such as the Board of Commissioners, which regularly offered
dan rekomendasi tentang, antara lain, keadaan industri dan              advice and recommendations about, among other things, the
pengendalian biaya.                                                     state of the industry and cost control.


Setiap triwulan, Direksi melakukan penilaian terhadap                   Every quarter, the Board of Directors assessed the strategy’s
implementasi strategi. Kami memeriksa kemajuan berdasarkan              execution operations. We checked on progress against objectives,
tujuan yang ingin dicapai, mengidentifikasi hambatan atau               identified roadblocks or opportunities to close the gap even faster,
peluang untuk mengatasi penundaan jika ada, dan melakukan               and made necessary corrections.
langkah koreksi yang diperlukan.




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      Tinjauan Kinerja                                                       Performance Review

      Melalui implementasi strategi yang diuraikan di atas, per 31           Through the implementation of the strategies outlined above,
      Desember 2023, Perseroan memperoleh TBS sebesar 2.345.131              as of December 31, 2023, the Company obtained FFB amounting
      MT, dengan jumlah produksi produk sawit sebesar 2.197.816 MT.          to 2,345,131 MT, with total palm oil production of 2,197,816 MT.
      Produski Perseroan di tahun 2023 tumbuh 24% atau 431.638 MT.           The Company’s production in 2023 grew by 24% or 431,638 MT.
      Sementara volume penjualan sebesar 1.488.795 MT, meningkat             Meanwhile, sales volume was 1,488,795 MT, an increase of 13%
      13% dari tahun lalu yang sebesar 1.321.396 MT.                         from the previous year of 1,321,396 MT.


      Dengan produktivitas tersebut, secara umum, kinerja SSMS tahun         By this productivity, SSMS performance in 2023 has generally met
      2023 telah memenuhi target yang ditetapkan. SSMS mampu                 the target. SSMS was able to generate revenue of Rp10.7 trillion,
      menghasilkan pendapatan sebesar Rp10,7 triliun, dengan laba            with a net profit of Rp518 billion. Complete information regarding
      bersih sebesar Rp518 miliar. Informasi lengkap mengenai kinerja        the Company’s performance can be seen in the Discussion and
      Perseroan dapat dilihat pada Bab Analisa Pembahasan dan                Management Analysis Chapter in this Report.
      Manajemen dalam Laporan ini.


      Dari sisi aset, Perseroan membukukan pertumbuhan 6% yoy                In terms of assets, the Company posted 6% yoy growth to Rp11.8
      menjadi Rp11,8 trilliun pada tahun 2023 dibandingkan dengan            trillion in 2023 compared to the previous year’s total assets of
      total aset tahun sebelumnya sebesar Rp11,1 triliun, peningkatan        Rp11.1 trillion, this increase was mainly driven by the increase
      ini terutama didorong oleh peningkatan aset lancar dan aset            in current assets and non-current assets by 8% yoy and 4% yoy
      tidak lancar masing-masing sebesar 8% yoy dan 4% yoy menjadi           to Rp5.0 trillion and Rp4,6 trillion, respectively. Meanwhile, the
      Rp5,0 triliun dan Rp4,6 triliun. Sementara itu, liabilitas Perseroan   Company’s liabilities showed an increase of 8% yoy from Rp9.1
      menunjukkan peningkatan sebesar 8% yoy dari Rp9,1 triliun pada         trillion in 2022 to Rp9.8 trillion in 2023.
      tahun 2022 menjadi Rp9.8 triliun pada tahun 2023.


      Untuk mempercepat pengembangan usaha, di awal tahun 2023               To accelerate business development, at the beginning of 2023
      Perseroan telah melakukan pelunasan obligasi global senilai            the Company has paid off global bonds worth US$300 million or
      US$300 juta atau setara Rp4,5 triliun yang diterbitkan di Bursa        equivalent with Rp4.5 trillion which were issued on the Singapore
      Singapura pada tahun 2018. Langkah ini semakin menunjukkan             Exchange in 2018. This step further shows the Company’s ability,
      kemampuan Perseroan, baik dari segi finansial maupun sumber            either in terms of finance or other resources to innovate and
      daya lainnya untuk dapat berinovasi dan berkembang lebih maju.         further development.


      Penerapan Tata Kelola Perusahaan                                       Corporate Governance Practices

      Standar tata kelola perusahaan (“GCG”) Perseroan yang kuat             The Company’s strong corporate governance (“GCG”) standards
      merupakan komponen penting lainnya yang telah membantu                 are another important component that has aided in SSMS’s
      operasional bisnis. Perseroan menyadari betapa pentingnya              operations. The Company is conscious of how crucial GCG
      prosedur GCG untuk mendapatkan dukungan dari pemangku                  procedures are to winning over stakeholders and publics. Through
      kepentingan dan masyarakat. Melalui studi benchmarking dan             benchmarking and gap analysis exercises, areas for improvement
      analisis kesenjangan, Perseroan telah mengidentifikasi hal-hal         were found to periodically improve GCG procedures.
      yang perlu diperkuat guna meningkatkan kualitas praktik GCG.


      Perseroan menempatkan kebijakan GCG sebagai pedoman bagi               The Company puts GCG policy as guideline for Board of Directors
      Direksi dan seluruh karyawan dalam menjalankan aktivitas bisnis        and all employees in conducting business and operational activities
      dan operasional di lingkungan kerja. Komunikasi eksternal terus        in the Company. External communication was maintained to carry
      dilaksanakan untuk menjalin komunikasi kepada publik tentang           out communication to the public regarding the Company’s GCG
      komitmen GCG Perseroan. Pada saat yang sama, komunikasi                commitment. At the same time, internal communication needs to
      internal perlu ditingkatkan untuk mendorong semua unit                 be increased as well to enable cooperation with all Company units
      Perseroan dapat bekerja sama dengan baik.                              properly.


      Kebijakan GCG secara berkesinambungan ditelaah untuk                   The Company continuously reviews GCG policies to provide the
      memberikan standar terbaik dalam menjalin hubungan harmonis            best standards in establishing harmonious relationships with
      dengan pemangku kepentingan guna menjaga pertumbuhan                   stakeholders in order to maintain sustainable business growth.
      bisnis yang berkelanjutan.




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Selain itu, Perseroan terus melakukan peningkatan kualitas          Additionally, the Company continues to improve the quality of
GCG dengan melengkapi infrastruktur dan soft structure GCG          GCG by completing the Company’s GCG infrastructure and soft
Perseroan. Di tahun 2023, Perseroan telah merampungkan              structure. In 2023, the Company has completed updates the
pembaruan Kebijakan Hak Asasi Manusia dan Kebijakan Etika           Human Rights Policy and Business Ethics Policy which further
Bisnis yang semakin memperkuat Perseroan dalam menjalankan          strengthens the Company in carrying out its business responsibly.
bisnis secara bertanggung jawab.


Pada 8 Mei 2023, Perusahaan mengadakan Rapat Umum                   The Company called an Annual General Meeting of Shareholders
Pemegang Saham Tahunan (RUPST) untuk membahas kinerja               (AGMS) on May 8, 2023, to discuss business performance for the
usaha untuk tahun buku 2022 dan sebagai bagian dari penerapan       fiscal year 2022 as part of the GCG implementation.
GCG.


Pada tahun 2023 tidak terdapat perubahan susunan Direksi            In 2023, there were no changes made to the composition of the
Perseroan.                                                          Company’s Board of Directors.


Komitmen Terhadap Keberlanjutan                                     Commitment To Sustainability

Perjalanan keberlanjutan di Perseroan dimulai dengan program        The journey towards sustainability at the Company began with
edukasi internal yang komprehensif, mencakup mulai dari             a comprehensive internal education program, starting from
kepemimpinan tertinggi hingga setiap karyawan dalam organisasi.     the highest leadership down to every employee within the
Inisiatif ini bertujuan untuk menanamkan pemahaman mendalam         organization. The initiative aimed to instil a deep understanding
tentang prinsip-prinsip keberlanjutan, menekankan pentingnya        of sustainability principles, emphasizing the significance of
faktor Lingkungan, Sosial, dan Tata Kelola (“LST”) dalam kegiatan   Environmental, Social, and Governance (“ESG”) factors in the
operasional bisnis Perseroan.                                       Company’s operational business activities.


Upaya keberlanjutan Perseroan tidak dapat dipisahkan dari           Central to the Company’s sustainability efforts was the
Kerangka Kerja Keberlanjutan yang kuat. Kerangka kerja ini          development of a robust Sustainability Framework. This framework
berfungsi sebagai pedoman, menguraikan komitmen, tujuan,            served as a guideline, outlining the organization’s commitments,
dan strategi organisasi untuk mencapai keberlanjutan di             goals, and strategies towards achieving sustainability across its
seluruh operasinya. Rencana tindak lanjut yang komprehensif         operations. A comprehensive follow-up plan was also devised
juga dirancang dan disesuaikan untuk menyelaraskan dengan           and tailored to align with the diverse functions and units within the
beragam fungsi dan unit dalam organisasi, memastikan bahwa          organization, ensuring that each department contributed towards
setiap departemen berkontribusi terhadap realisasi tujuan           the realization of the overarching sustainability goals.
keberlanjutan yang menyeluruh.




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      Pemantauan dan evaluasi yang berkelanjutan merupakan bagian             Continuous monitoring and evaluation formed an integral part of
      integral dari strategi keberlanjutan SSMS. Pihak internal, melalui      the Company’s sustainability strategy. Internal parties, through
      Divisi Keberlanjutan, dan pemangku kepentingan eksternal terlibat       Sustainability Division, and external stakeholders were involved
      dalam menilai efektivitas inisiatif keberlanjutan Perseroan. Analisis   in assessing the effectiveness of sustainability initiatives. Impact
      dampak dilakukan dan hasilnya memberikan informasi berharga             analysis was conducted and provided valuable insights into the
      tentang hasil nyata dari upaya keberlanjutan Perusahaan.                tangible outcomes of the Company’s sustainability efforts.


      Untuk meningkatkan kualitas lingkungan, Perseroan telah mulai           To improve environmental quality, the Company has started using
      beralih ke sumber energi terbarukan. Di tahun 2023 ini, Perseroan       the renewable energy. In 2023, the Company had 2 (two) units of
      telah memiliki 2 (dua) unit Pembangkit Listrik Tenaga Biogas            Biogas Power Plant (PLTBg) and 1 (one) unit of Bio-CNG Power
      (PLTBg) dan 1 (satu) unit Pembangkit Listrik Bio-CNG. Perseroan         Plant. The Company strives to conduct its business by considering
      senantiasa berupaya menjalankan bisnis dengan memperhatikan             the environment and it was disseminated to not only internal but
      lingkungan dan ini tidak hanya dikomunikasikan kepada internal          also to local community. This can be seen from the involvement of
      tetapi juga kepada masyarakat sekitar. Hal ini dapat terlihat dari      independent smallholders in RSPO Certification, partnerships with
      keterlibatan para petani pekebun swadaya dalam sertifikasi RSPO,        the Forest Farmers Group (“KTH”), the involvement of independent
      kemitraan dengan Kelompok Tani Hutan (“KTH”), keterlibatan para         smallholders in Orangutan Conservation, and other productive
      petani dalam program konservasi Orangutan, serta kemitraan              partnerships based on local wisdom.
      produktif lainnya yang berbasis kearifan lokal.



      Pandangan ke Depan                                                      Outlook

      Perekonomian Indonesia diperkirakan akan tumbuh pada tahun              The country’s economy is projected to grow by 5.2% in 2024.
      2024 dengan proyeksi 5,2%. Prediksi ini tercatat dalam laporan          This prediction was recorded in Commodity Markets Outlook at
      Commodity Markets Outlook edisi Oktober 2023. Menurut Bank              October 2023 edition. World Bank predicted, the average price of
      Dunia, rata-rata harga minyak sawit sepanjang tahun 2023 akan           palm oil throughout 2023 will reach US$920 per tons, lower than
      mencapai US$920 per ton, lebih rendah dibanding rata-rata tahun         the average in previous year (year on year/yoy). Then in 2024, the
      sebelumnya (year on year/yoy). Kemudian pada tahun 2024, rata-          average price of palm oil will to be weaken by 2% (yoy) and in 2025
      rata harga minyak sawit diprediksi melemah 2% (yoy) dan pada            it will fall again by 6% (yoy).
      tahun 2025 turun lagi 6% (yoy).




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Meskipun begitu, sebagai penyumbang devisa terbesar, industri          In terms of the largest foreign exchange contributor, the palm
sawit optimis menyambut 2024 dengan berbagai peluang baru.             oil industry is optimistic to welcoming 2024 with many new
Apalagi setiap tahun konsumsi minyak nabati selalu naik seiring        opportunities. Moreover, every year the consumption of vegetable
dengan pertambahan penduduk di dunia. Berdasarkan data dari            oil always increases along with population growth in the world.
Gabungan Pengusaha Kelapa Sawit (“GAPKI”), konsumsi minyak             Data from the Palm Oil Entrepreneurs Association (“GAPKI”) stated
nabati kian meningkat di kisaran 3-5 juta ton per tahun.               that the consumption of vegetable oil is increasing in a range of
                                                                       3-5 million tons per year.


Selain itu, hilirisasi produk minyak kelapa sawit juga menjadi kunci   Apart of that, the downstream of crude palm oil products is also
dalam kemajuan sektor kelapa sawit nasional di masa depan.             key to measuring the progress of National palm oil sector in future.
Hilirisasi memiliki dampak keterkaitan (backward dan forward           Downstreaming has a large backward and forward linkage impact
linkage) yang besar bagi perekonomian. Saat ini hilirisasi minyak      in the economy and has produced various derivative products
kelapa sawit sudah berjalan dan berbagai produk turunannya             such as cooking oil, cosmetics, toiletries, biodiesel and food
sudah dihasilkan seperti minyak goreng, produk kosmetik,               components. However, innovation of downstream is still open to
perlengkapan mandi, biodiesel, dan bahan pangan. Namun masih           explore other derivative products.
terbuka inovasi untuk berbagai produk turunan lainnya yang
belum dieksplorasi.


Melihat hal ini, Perseroan optimis dapat terus mengembangkan           With regards to the business downstream, the Company is optimistic
usahanya secara berkelanjutan, terlebih lagi Perseroan telah           that palm oil business can continue to develop sustainably, especially
memiliki unit Research & Development (R&D) yang mumpuni.               the Company already has a capable Research & Development (R&D).
Selain itu, Perseroan bersama anak usahanya PT Citra Borneo            In addition, the Company in collaboration with its subsidiary, PT Citra
Utama Tbk (“CBUT”) berkolaborasi dalam menyediakan produk              Borneo Utama Tbk (“CBUT”) to provide downstream of crude palm
turunan minyak kelapa sawit, seperti Refined Bleached Deodorized       oil products such as Refined Bleached Deodorized Palm Oil (RBDPO),
Palm Oil (RBDPO), Refined Bleached Deodorized Palm Olein               Refined Bleached Deodorized Palm Olein (RBDPL), Refined Bleached
(RBDPL), Refined Bleached Deodorized Palm Stearin (RBDPS), Palm        Deodorized Palm Stearin (RBDPS), Palm Fatty Acid Distillate (PFAD),
Fatty Acid Distillate (PFAD), Crude Palm Kernel Oil (CPKO) dan Palm    Crude Palm Kernel Oil (CPKO) and Palm Kernel Expeller (PKE). With
Kernel Expeller (PKE). Kolaborasi ini akan memperkuat daya saing       this collaboration, the Company’s competitiveness will become
Perseroan sehingga Perseroan dapat lebih bersaing di Industri          stronger in competing in the global industry, providing benefits and
secara global, memberikan manfaat dan meningkatkan nilai               increasing added value for all stakeholders and society.
tambah untuk seluruh pemangku kepentingan dan masyarakat.



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      Penutup                                                           Conclusion

      Pengawasan dan arahan Dewan Komisaris yang tak ternilai,          The Board of Commissioners’ invaluable oversight and direction,
      serta dukungan dari seluruh pemegang saham, sangat dihargai       as well as the support of all shareholders, are greatly appreciated
      oleh Perusahaan. SSMS sangat menghargai komitmen dan kerja        by the Company. SSMS truly values each employee’s commitment
      keras setiap karyawan. Perseroan juga mengucapkan terima          and hard work. The Company also expresses gratitude to all other
      kasih kepada semua pemangku kepentingan, masyarakat dan           stakeholders, publics and other customers for their ongoing
      pelanggan lainnya atas dukungannya yang berkesinambungan,         support to SSMS, which has enabled us to grow as Indonesia’s
      sehingga SSMS mampu menjadi pemasok minyak kelapa sawit           most reliable and quality palm oil provider.
      yang paling andal dan berkualitas di Indonesia.



                                                          Jakarta, 3 April 2024
                                                          Jakarta, April 3, 2024




                                                         Nasarudin bin Nasir
                                                            Direktur Utama
                                                           President Director




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                                                            LAPORAN MANAJEMEN
                                                                        MANAGEMENT REPORT   02
                     Nasarudin bin Nasir
                          Direktur Utama
                         President Director

M. Syafril Harahap                            Jap Hartono
      Direktur                                   Direktur
      Director                                   Director




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      PERNYATAAN TANGGUNG JAWAB DEWAN KOMISARIS ATAS LAPORAN TAHUNAN 2023
      STATEMENT OF RESPONSIBILITIES OF THE BOARD OF COMMISSIONERS FOR 2023 ANNUAL REPORT

      Kami yang bertanda tangan di bawah ini menyatakan bahwa            We, the undersigned below declare that all information in the
      semua informasi dalam laporan tahunan PT Sawit Sumbermas           Annual Report of PT Sawit Sumbermas Sarana Tbk for year 2023
      Sarana Tbk tahun 2023 telah dimuat secara lengkap dan              is presented in a complete and correct manner and we are fully
      bertanggung jawab penuh atas kebenaran isi laporan tahunan         responsible for the accuracy of the content of this Annual Report.
      perusahaan.


      Demikian pernyataan ini dibuat dengan sebenarnya.                  This statement is made truthfully.



                                                           Jakarta, 3 April 2024
                                                           Jakarta, April 3, 2024


                                                          Dewan Komisaris
                                                       Board of Commissioners




                                                           Bungaran Saragih
                                                             Komisaris Utama
                                                          President Commissioner




                                 Rimbun Situmorang                                                   Hoesen
                                          Komisaris                                            Komisaris Independen
                                        Commissioner                                        Independent Commissioner




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                                                                                                                  LAPORAN MANAJEMEN
                                                                                                                              MANAGEMENT REPORT   02

PERNYATAAN TANGGUNG JAWAB DIREKSI ATAS LAPORAN TAHUNAN 2023
STATEMENT OF RESPONSIBILITIES OF THE BOARD OF DIRECTORS FOR 2023 ANNUAL REPORT

Kami yang bertanda tangan di bawah ini menyatakan bahwa            We, the undersigned below declare that all information in the
semua informasi dalam laporan tahunan PT Sawit Sumbermas           Annual Report of PT Sawit Sumbermas Sarana Tbk for year 2023
Sarana Tbk tahun 2023 telah dimuat secara lengkap dan              is presented in a complete and correct manner and we are fully
bertanggung jawab penuh atas kebenaran isi laporan tahunan         responsible for the accuracy of the content of this Annual Report.
perusahaan.


Demikian pernyataan ini dibuat dengan sebenarnya.                  This statement is made truthfully.



                                                     Jakarta, 3 April 2024
                                                     Jakarta, April 3, 2024


                                                         Direksi
                                                    Board of Directors




                                                     Nasarudin bin Nasir
                                                       Direktur Utama
                                                      President Director




                        Jap Hartono                                                      M. Syafril Harahap
                           Direktur                                                             Direktur
                           Director                                                             Director




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03




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                                              PROFIL PERUSAHAAN
                                                           COMPANY PROFILE   03




                     03
     PROFIL
PERUSAHAAN
                  COMPANY PROFILE




 Dengan diakuisisinya PT Citra Borneo Utama Tbk (“CBUT”),
 Perseroan semakin memperkuat daya saingnya untuk
 bersaing di industri global dengan menyediakan produk
 turunan minyak kelapa sawit, serta memberikan manfaat
 dan meningkatkan nilai tambah bagi seluruh pemangku
 kepentingan dan masyarakat.

 By acquired of PT Citra Borneo Utama Tbk (“CBUT”), the
 Company has further strengthened its competitiveness
 to compete in the global industry by providing crude
 palm oil derivative products, as well as providing
 benefits and increasing added value for all stakeholders
 and publics.

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      INFORMASI DAN DATA PERUSAHAAN
      COMPANY INFORMATION AND DATA




                  Nama Perusahaan                                                     Dasar Hukum Pendirian
                  Company Name                                                        Legal Basis of Establishment

                  PT Sawit Sumbermas Sarana Tbk                                       Akta Pendirian No. 51 tanggal 22 November 1995 yang dibuat
                                                                                      di hadapan Enimaya Agoes Suwarko, S.H, Notaris di Jakarta
                                                                                      yang dinyatakan kembali berdasarkan akta tanggal 1 Juli 1996
                  Bidang Usaha
                  Nature of Business                                                  yang dibuat oleh Notaris Pengganti Nadi Krida Yomantara
                                                                                      SH., Notaris di Jakarta, dan telah mendapatkan pengesahan
                  Pembudidayaan tanaman kelapa sawit dari proses penanaman,           dari Kementerian Hukum dan Hak Asasi Manusia Republik
                  pemanenan, pengolahan tandan buah segar (TBS) yang                  Indonesia dengan Surat Keputusan No. C2-8176.HT.01.01.Th.96
                  menghasilkan minyak kelapa sawit (CPO), inti sawit (PK)             tanggal 26 Juli 1996, serta selanjutnya diumumkan dalam
                  minyak inti sawit (CPKO) dan produk turunan kelapa sawit            Berita Negara Republik Indonesia No. 839, Tambahan No. 36
                  lainnya dan juga meliputi proses penjualan, pemasaran serta         tanggal 22 Februari 2011.
                  pendistribusian produk.
                                                                                      Deed of Establishment No. 51 dated November 22, 1995 which
                  Cultivation, planting and harvest of oil palm fresh fruit bunches   was made before Enimaya Agoes Suwarko, S.H, Notary in
                  (FFB) to produce Crude Palm Oil (CPO), Palm Kernel (PK)             Jakarta which was restated in the Deed on July 1, 1996 made
                  Crude Palm Kernel Oil (CPKO), and other palm oil derivative         by Replacement Notary Nadi Krida Yomantara SH., Notary
                  products which are sold and distributed to the domestic and         in Jakarta, and has been approved by Ministry of Law and
                  international markets.                                              Human Rights of the Republic of Indonesia under Decree No.
                                                                                      C2-8176.HT.01.01.Th.96 dated July 26, 1996, and subsequently
                                                                                      published in the Republic of Indonesia State of Gazette No. 839,
                  Tanggal Pendirian
                                                                                      Supplement No. 36 dated February 22, 2011.
                  Date of Establishment

                  22 November 1995                                                    Jumlah Karyawan
                  November 22, 1995                                                   Number of Employees

                                                                                      18.044 karyawan / employees
                  Status dan Bentuk Badan Hukum
                                                                                      (Perseroan dan Anak / the Company and Subsidiary)
                  Status and Form of Legal Entity
                                                                                      1.027 karyawan / employees
                                                                                      (Perseroan / the Company)
                  Perusahaan Terbatas (PT) dan Perusahaan Terbuka
                  Limited Liability Company (PT) and Public Company
                                                                                      Kepemilikan Saham
                                                                                      Share Ownership
                  Modal Dasar
                  Authorized Capital
                                                                                      1.   PT Citra Borneo Indah: 61,24%
                                                                                      2.   PT Putra Borneo Agro Lestari: 9,61%
                  Rp3.210.000.000.000,- atau 32.100.000.000 lembar saham
                                                                                      3.   Masyarakat (masing-masing dibawah 5%) : 29,15%
                  IDR3,210,000,000,000 or 32,100,000,000 shares
                                                                                           Public (below 5% respectively) : 29.15%

                  Modal Ditempatkan dan Disetor Penuh
                  Issued and Fully Paid-in Capital

                  Rp952.500.000.000,- atau 9.525.000.000 lembar saham
                  IDR952,500,000,000 or 9,525,000,000 shares




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Pencatatan Saham                                                 Entitas Anak
Share Listing                                                    Subsidiaries

12 Desember 2013 di Bursa Efek Jakarta, saat ini telah berubah   1. PT Mitra Mendawai Sejati (“MMS”)
nama menjadi Bursa Efek Indonesia                                2. PT Kalimantan Sawit Abadi (“KSA”)
December 12, 2013 on the Jakarta Stock Exchange which was        3. PT Mirza Pratama Putra (“MPP”)
changed to become Indonesia Stock Exchange                       4. PT Sawit Multi Utama (“SMU”)
                                                                 5. PT Tanjung Sawit Abadi (“TSA”)
                                                                 6. PT Menteng Kencana Mas (“MKM”)
Kode Saham
Ticker Code                                                      7. SSMS Plantation Holding (“SPH”)
                                                                 8. SSMS Plantation International (“SPI”)
SSMS                                                             9. Sawit Sumbermas International (“SSI”)
                                                                 10. PT Citra Borneo Utama Tbk (“CBUT”)

Produk Usaha
Business Product                                                 Alamat Kantor Pusat
                                                                 Address of Head Ofice
-   Tandan Buah Segar / Fresh Fruit Bunches
-   Minyak Kelapa Sawit / Crude Palm Oil                         Jalan H. Udan Said No. 47 Pangkalan Bun
-   Inti Sawit / Palm Kernel                                     Kalimantan Tengah 74113
-   Minyak Inti Sawit / Crude Palm Kernel Oil                    Telp. : (+62-532) 21297
-   RBDPO (Refined Bleached Deodorized Palm Oil)                 Fax. : (+62-532) 21396
-   RBDP Olein (Refined Bleached Deodorized Palm Olein)          Website : www.ssms.co.id
-   RBDPS (Refined Bleached Deodorized Palm Stearin)             Email : corporate@ssms.co.id
-   PFAD (Palm Fatty Acid Distillate)
-   PKE (Palm Kernel Expeller)                                   Kontak Perseroan
                                                                 Company’s Contact
Jaringan Usaha
Business Network                                                 Head of Corporate Secretary
                                                                 Jap Hartono
1 Kantor Pusat, 1 Kantor Representatif,                          Jakarta Representative Office
23 Perkebunan Kelapa Sawit, 8 Pabrik Kelapa Sawit,               Equity Tower Lt. 43 Suite C-D
1 Pabrik Inti Sawit, 2 Pabrik Biogas, 1 Pabrik Bio-CNG,          Jl. Jend. Sudirman Kav. 52-53 SCBD Lot 9
1 Pabrik Pemurnian, 1 Pabrik Fraksinasi, dan                     Jakarta 12190 – Indonesia
1 Pabrik Kernel Crushing.                                        Telp. : (+62 21) 2903 5401
                                                                 Fax. : (+62 21) 2903 5405
1 Head Office, 1 Representative Office,                          Email : corporate@ssms.co.id
23 Palm Oil Plantation, 8 Palm Oil Mills,
1 Palm Kernel Plant, 2 Biogas Plant, 1 Bio-CNG Plant,            Website
1 Refinery Plant, 1 Fractination Plant, and                      Website
1 Kernel Crushing Plant.
                                                                 www.ssms.co.id




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      RIWAYAT SINGKAT PERUSAHAAN
      BRIEF HISTORY OF THE COMPANY




      PT Sawit Sumbermas Sarana Tbk, yang selanjutnya disebut juga         PT Sawit Sumbermas Sarana Tbk, further called “SSMS” or “the
      dengan “SSMS” atau “Perseroan,” didirikan di Jakarta, pada tanggal   Company”, was established under Deed No. 51 dated November 22,
      22 November 1995 yang dibuat di hadapan Notaris Enimarya             1995, signed before Notary Enimarya Agoes Suwarko, S.H., which
      Agoes Suwarko, S.H., Notaris di Jakarta, yang dinyatakan kembali     was restated in the Deed on July 1, 1996 made by Replacement
      berdasarkan akta tanggal 1 Juli 1996 yang dibuat oleh Notaris        Notary Nadi Krida Yomantara SH., Notary in Jakarta and approved
      Pengganti Nadi Krida Yomantara SH., Notaris di Jakarta, dan telah    by Minister of Justice and Human Rights of Republic of Indonesia
      memperoleh pengesahan dari Menteri Kehakiman dan Hak Asasi           through a Decree No. C2-8176. HT.01.01.TH.96 dated July 26, 1996,
      Manusia Republik Indonesia melalui Surat Keputusan No. C2-8176.      and announced in State Gazette of Republic of Indonesia No. 839,
      HT.01.01.TH.96 tanggal 26 Juli 1996, dan telah diumumkan dalam       Appendix No. 36 dated February 22, 2011.
      Berita Negara Republik Indonesia No. 839, Tambahan No. 36 tanggal
      22 Februari 2011.


      SSMS mulai beroperasi secara komersial pada tahun 2005. Perseroan    SSMS initiated its commercial operations in 2005. Together with
      dan kelompok usaha bergerak di bidang perkebunan kelapa sawit        its business group, The Company engaged in oil palm plantations
      dengan pabrik kelapa sawit (PKS) yang memproduksi minyak kelapa      with palm oil mills (PKS) that produce palm oil and palm oil kernel,
      sawit dan minyak inti sawit yang berkapasitas produksi 540 MT        producing 540 MT of fresh fruit bunches (“FFB”) per hour. Oil palm
      tandan buah segar (“TBS”) per jam. Perkebunan kelapa sawit dan       plantations and palm oil mills which located in Central Kalimantan.
      pabrik kelapa sawit Perseroan terletak di Kalimantan Tengah.


      Sejak awal beroperasi di tahun 1995, Perseroan mampu membangun       Since initial operation in 1995, the Company has been able to
      suatu reputasi unggul sebagai perusahaan perkebunan kelapa sawit     build an excellent reputation as an oil palm plantation and palm
      dan pabrik kelapa sawit dengan tingkat efektivitas yang tinggi dan   oil manufactory with a high level of effectiveness and an enticing
      memiliki profil usia perkebunan yang menarik, sehingga dipercaya     plantation age profile that is believed to be able to provide rapid
      dapat memberikan pertumbuhan usaha yang pesat.                       business growth in the next few years.


      Perseroan melakukan penawaran umum saham perdana sebanyak            The Company conducted an initial public offering of 1,500,000,000
      1.500.000.000 saham biasa atas nama dengan nilai nominal Rp100       ordinary shares with a par value of Rp100 (full amount) per share
      (angka penuh) setiap lembar saham yang ditawarkan kepada             at an offering price of Rp670 (full amount). The number of initial
      masyarakat dengan harga penawaran Rp670 (angka penuh) setiap         public shares offered to the Public are allocated in the Employee
      saham. Termasuk di dalam jumlah saham umum perdana kepada            Stock Allocation Program (“ESA”) of 150,000,000 shares based on
      masyarakat adalah saham yang telah dialokasikan sehubungan           the Director Decision Letter No. Dir.Kom/IPO-ESA/001/VIII/2013
      dengan Program Alokasi Saham Pegawai (Employee Stock                 dated September 19, 2013. These shares were listed on the
      Allocation atau “ESA”) sejumlah 150.000.000 saham berdasarkan        Indonesia Stock Exchange on December 12, 2013.
      Surat Keputusan Direksi No. Dir.Kom/IPO-ESA/001/VIII/2013
      tanggal 19 September 2013. Pada tanggal 12 Desember 2013,
      seluruh saham tersebut telah dicatat di Bursa Efek Indonesia.




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Pada tahun 2018, kelompok usaha Perseroan di bawah MMS dan            In 2018, the Company through its subsidiaries, MMS and KSA
KSA melakukan ekspansi ke bidang usaha lainnya, yaitu dengan          expanded into other business fields by developing a Biomass
mengembangkan Pembangkit Listrik Tenaga Biomassa (PLTBM)              Power Plant (PLTBM) or a Biogas Plant to produce environmentally
atau pabrik BioGas yang menghasilkan bahan bakar alternatif           alternative fuels. The Biogas Plant generated electricity with
lingkungan. Pabrik BioGas menghasilkan tenaga listrik berkapasitas    a capacity of 1.5 Mega Watts from processed palm oil. The
1,5 Mega Watt yang berasal dari pengolahan limbah sawit.              ecologically friendly electricity is used to support the Company’s
Listrik ramah lingkungan tersebut digunakan untuk mendukung           operational activities and utilized to support the activities in
kegiatan operasional Perseroan, dan dimanfaatkan untuk rumah-         houses located in employee residential areas. In addition, the
rumah yang berada di kawasan pemukiman pegawai. Selain itu,           Company also may provide the electricity to people around the
Perseroan dapat membantu dengan mengalirkan listrik kepada            Company’s business locations.
Masyarakat yang berlokasi di lingkungan area operasionalnya.


Pendirian Pabrik BioGas ini tidak hanya memberikan solusi             The establishment of this Biogas Plant not only provided a solution
bagi ketersediaan pasokan listrik yang ramah lingkungan, tapi         for the availability of an environmentally friendly electricity
sekaligus membuktikan langkah konkrit dari penerapan prinsip-         supply but also proved to be a concrete step in implementing
prinsip keberlanjutan industri sawit.                                 sustainability principles in the palm oil industry.


Pada 19 Desember 2023, Perseroan mengakuisisi PT Citra Borneo         On December 19, 2023, the Company acquired PT Citra Borneo
Utama Tbk dengan menyetujui penyelesaian sebagian utang PT Citra      Utama Tbk by approved the debt settlement of PT Citra Borneo
Borneo Indah (“CBI”) melalui pengalihan kepemilikan saham milik       Indah (“CBI”) by handing over shares of PT Citra Borneo Utama Tbk
CBI pada PT Citra Borneo Utama Tbk (“CBUT”) kepada Perseroan.         (“CBUT”) in one stage for the shares owned by CBI to the Company.
Dengan demikian, secara keseluruhan saham Perseroan di CBUT           Thus, the Company’s overall share in PT Citra Borneo Utama Tbk
adalah sebesar 78,22% dimana 70,22% saham dimiliki langsung oleh      is 78.22% where 70.2% share owned directly by the Company, 4%
Perseroan, 4% saham dimiliki tidak langsung melalui KSA, dan 4%       share owned indirectly by KSA, and 4% share owned indirectly by
saham dimiliki tidak langsung melalui MMS. Dengan diakuisisinya       MMS. With the acquisition of CBUT, the Company’s business will
CBUT, semakin memperkuat bisnis Perseroan melalui pengelolaan         become stronger through integrated palm oil management from
sawit terintegrasi dari hulu ke hilir.                                upstream to downstream.


Hingga akhir tahun 2023, kegiatan usaha perseroan didukung oleh       By the end of 2023, the Company’s business activities were
10 (sepuluh) anak perusahaan, dengan mengelola kegiatan usaha         supported by 10 (ten) subsidiaries, by managing integrated
yang terintegrasi yang terdiri dari 23 perkebunan kelapa sawit,       business activities consisting of 23 palm plantations, 8 (eight)
8 (delapan) pabrik kelapa sawit (PKS), 1 (satu) pabrik inti kelapa    palm oil mills (PKS), 1 (one) Palm Kernel Mill, 2 (two) biogas plant,
sawit, 2 (dua) pabrik biogas, 1 pabrik Bio-CNG, 1 pabrik pemurnian,   1 Bio-CNG Plant, 1 refinery plant, 1 fractination plant, and 1 kernel
1 pabrik fraksinasi dan 1 pabrik kernel crushing.                     crushing plant.


Informasi Perubahan Nama                                              Information of Name Change

Sejak berdiri pada 22 November 1995 hingga saat ini, Perseroan        Since its establishment, until this day, SSMS has never changed
tidak pernah mengalami perubahan nama.                                its name.

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      VISI - MISI PERUSAHAAN
      COMPANY VISION – MISSION

      Visi Misi Perseroan telah dikaji dan disetujui oleh Dewan Komisaris      The Company’s Vision and Mission have been reviewed and
      dan Direksi. Adapun Visi Misi Perseroan adalah sebagai berikut:          approved by the Board of Commissioners and the Board of
                                                                               Directors. The Company’s Vision and Mission are as follows:




                                                                                MENJADI
                                                                            PERUSAHAAN
                                                                                PERKEBUNAN
                                          VISI                               BERKELAS DUNIA
                                                     Vision                   TO BECOME A WORLD-CLASS PLANTATION COMPANY




                                                           MISI Mission
            Membangun                                               Melaksanakan               Menggunakan             Mengembangkan
                                        Meningkatkan
               bisnis                                              prinsip tata kelola            teknologi              sumber daya
                                         nilai tambah
            perkebunan                                             perusahaan yang              maju ramah                manusia &
                                        bagi seluruh
              secara                                                   sempurna                 lingkungan              potensi daerah
                                          pemangku
            profesional                                                                                                dalam semangat
                                        kepentingan
                                                                    To implement                    To use                kemitraan
             To build a                                             best practices            environmentally
                                        To add value for
            professional                                             of corporate               friendly and               To develop
                                        all stakeholders
             plantation                                              governance                  advanced                   our human
             business                                                                           technology               resources and
                                                                                                                         local potential
                                                                                                                           in a spirit of
                                                                                                                           partnership




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NILAI-NILAI PERUSAHAAN
CORPORATE VALUES

Perseroan telah menetapkan nilai-nilai perusahaan yang                The Company has established the corporate values which further
merupakan penjabaran lebih lanjut dari komitmen Perseroan             describe the Company’s commitment to the implementation of
terhadap penerapan prinsip-prinsip tata kelola berkelanjutan.         sustainable governance principles. Through the implementation
Melalui penerapan nilai-nilai tersebut, Perseroan berharap dapat      of these values, the Company hopes to make significant
berkontribusi secara signifikan terhadap pencapaian target Tujuan     contributions to the achievement of the Sustainable Development
Pembangunan Berkelanjutan atau Sustainable Development Goals          Goals (SDGs).
(SDGs).


Nilai-nilai perusahaan:                                               Corporate values:

A. PROFIT                                                             A. PROFIT
   Berpartisipasi dalam pengembangan energi baru dan                     Participating in the development of new and renewable energy
   terbarukan (new and renewable energy) seraya mendorong                while encouraging innovations that support productivity
   inovasi yang mendukung peningkatan produktivitas serta                improvement and the realization of a sustainable palm oil
   terwujudnya bisnis sawit yang keberlanjutan;                          business;


B. PEOPLE                                                             B. PEOPLE
   Bertanggung jawab untuk memberikan perlindungan                       Responsible for providing assurance of product quality
   terhadap kualitas produk maupun kepuasan konsumen                     and customer satisfaction through operations that are
   melalui kegiatan operasi yang berwawasan lingkungan dan               environmentally sound and based on a commitment to
   berlandaskan komitmen untuk menjaga kesehatan dan                     maintain health and safety in the work environment;
   keselamatan di lingkungan kerja;


C. PLANET                                                             C. PLANET
   Memegang teguh komitmen untuk menjalankan usahanya                    Upholding the commitment to conduct its business by
   dengan mengedepankan prinsip-prinsip keberlanjutan                    promoting the principles of sustainability through the
   melalui pengembangan hubungan yang harmonis dengan                    development of harmonious relationships with the community
   masyarakat dan lingkungan sekitar.                                    and the surrounding environment.


Komitmen     kami     terhadap      pelaksanaan     prinsip-prinsip   Our commitment to the implementation of the principles of
keberlanjutan yang kami tuangkan dalam 3 (tiga) moto utama            sustainability that we set out in the 3 (three) main pillars of the
perusahaan: Profit, People, Planet, dijabarkan lebih lanjut lagi ke   company: Profit, People, Planet, further elaborated into the
dalam nilai-nilai perusahaan. Nilai-nilai perusahaan tersebut         company’s values. Corporate values are:
adalah:




        CARE FOR THE                       CARE FOR THE                    CARE FOR THE                      CARE FOR THE
          COMPANY                            PEOPLE                        ENVIRONMENT                     NATION, INDONESIA




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      BIDANG USAHA
      LINE OF BUSINESS




      Kegiatan Usaha Berdasarkan Anggaran Dasar                         Business Activity Based on Articles of Association

      Berdasarkan Pasal 3 Anggaran Dasar Terakhir Perusahaan, ruang     Pursuant to Article 3 of the Company’s latest Articles of
      lingkup kegiatan Perusahaan adalah menjalankan sejumlah           Association, the scope of the Company’s activities is to carry out
      bidang usaha yang meliputi pertanian, kehutanan dan perikanan,    several business fields, which include agriculture, forestry and
      industri pengolahan, pengadaan listrik dan perdagangan.           fishery, processing industry, electricity supply and trading.



      Kegiatan Usaha yang Dijalankan pada Tahun Buku                    Business Activities in the Fiscal Year

      Untuk mencapai maksud dan tujuan yang tertera pada Anggaran       To achieve the aims and objectives stated in the Articles of
      Dasar Perusahaan tersebut, kegiatan usaha yang dijalankan         Association of the Company, the business activities carried out by
      Perseroan adalah sebagai berikut:                                 the Company are as follows:


      a.   Melaksanakan kegiatan usaha dibidang pertanian, kehutanan    a.   Carrying out business activities in the fields of agriculture,
           dan perikanan yaitu perkebunan buah kelapa sawit, mencakup        forestry, and fisheries, namely oil palm fruit plantations,
           usaha perkebunan mulai dari kegiatan pengolahan lahan,            including plantation businesses ranging from land processing,
           penyemaian, pembibitan, penanaman, pemeliharaan dan               seeding, planting, maintenance and harvesting of oil palm
           pemanenan buah kelapa sawit. Termasuk kegiatan pembibitan         fruit. Including oil palm fruit tree seeding.
           dan pembenihan tanaman buah kelapa sawit.



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b. Melaksanakan kegiatan usaha di bidang industri pengolahan,           b. Carrying out business activities in the processing industry,
   yaitu industri minyak mentah kelapa sawit (crude palm oil),             namely the crude palm oil industry, including the business of
   mencakup usaha pengolahan kelapa sawit menjadi minyak                   processing palm oil into crude palm oil (CPO) which still needs
   mentah yang masih perlu diolah lebih lanjut dan biasanya                to be processed further and this product is usually used by
   produk ini dipakai oleh industri lain.                                  other industries.


c.   Melaksanakan kegiatan usaha di bidang pengadaan listrik, yaitu     c.   Carrying out business activities in the field of electricity
     pembangkitan tenaga listrik, mencakup usaha pembangkitan                procurement, namely electricity generation, including the
     tenaga listrik dan pengoperasian fasilitas pembangkit yang              business of generating electricity and operating generating
     menghasilkan energi listrik, seperti tenaga air (hidroelektrik),        facilities that produce electricity, such as hydropower
     batu bara, gas (turbin gas), bahan bakar minyak, diesel dan             (hydroelectric), coal, gas (gas turbines), fuel oil, diesel
     energi yang dapat diperbarui, tenaga surya, angin, arus laut,           and other renewable energy, solar, wind, ocean currents,
     panas bumi (energi termal), tenaga nuklir dan lain-lain.                geothermal (thermal energy), nuclear power and others.


d. Melaksanakan kegiatan usaha dibidang perdagangan, antara             d. Carrying out business activities in the trade sector, including:
   lain:                                                                   - Wholesale of fruit containing oil, which includes wholesale
   - Perdagangan besar buah yang mengandung minyak,                           trade in agricultural products of fruit containing oil, such
        mencakup usaha perdagangan besar hasil pertanian                      as coconut and oil palm, including wholesale trade of fruit
        tanaman buah yang mengandung minyak, seperti kelapa                   seeds containing oil; and
        dan kelapa sawit termasuk perdagangan besar bibit buah
        yang mengandung minyak; dan
   - Perdagangan besar minyak dan lemak nabati, mencakup                     -   Wholesale of vegetable oils and fats, including wholesale
        usaha perdagangan besar minyak dan lemak nabati,                         of vegetable oils and fats, including margarine
        termasuk margarin.


Sampai dengan akhir tahun 2023, Perseroan telah menjalankan             As of the end of 2023, the Company has carried out all these
seluruh kegiatan usaha tersebut sesuai dengan Pasal 3 Anggaran          business activities in accordance with Article 3 of the Company’s
Dasar Perseroan.                                                        Articles of Association.



Produk dan Jasa yang Ditawarkan                                         Products and Services

Segmen usaha yang dijalankan oleh Kelompok Usaha Perseroan              The business segment conducted by the Company is to run and
adalah menjalankan dan mengelola usahanya dalam 1 (satu)                manage its business in 1 (one) segment, namely oil palm plantations
segmen yaitu perkebunan kelapa sawit serta menjual produknya            and sell its products in 1 (one) area in Central Kalimantan.
di 1 (satu) wilayah yaitu Kalimantan Tengah.



Sejak beroperasi secara komersial pada tahun 2005, Perseroan            Since its commercial operation in 2005, the Company and its
dan anak perusahaannya fokus mengembangkan usaha                        subsidiaries have focused on developing palm oil plantations
perkebunan kelapa sawit dan pabrik kelapa sawit. Perseroan              and palm oil mills. The Company always encourages product
senantiasa mendorong inovasi produknya berupa:                          innovation to produce a variety of products, in the form of:


a.   Tandan Buah Segar (Fresh Fruit Bunch);                             a.   Fresh Fruit Bunch;
b.   Minyak Kelapa Sawit (Crude Palm Oil);                              b.   Crude Palm Oil;
c.   Inti Sawit (Palm Kernel);                                          c.   Palm Kernel;
d.   Minyak Inti Sawit (Crude Palm Kernel Oil);                         d.   Crude Palm Kernel Oil.
e.   RBDPO (Refined Bleached Deodorized Palm Oil);                      e.   RBDPO (Refined Bleached Deodorized Palm Oil);
f.   RBDP Olein (Refined Bleached Deodorized Palm Olein);               f.   RBDP Olein (Refined Bleached Deodorized Palm Olein);
g.   RBDPS (Refined Bleached Deodorized Palm Stearin);                  g.   RBDPS (Refined Bleached Deodorized Palm Stearin);
h.   PFAD (Palm Fatty Acid Distillate);                                 h.   PFAD (Palm Fatty Acid Distillate);
i.   PKE (Palm Kernel Expeller).                                        i.   PKE (Palm Kernel Expeller).




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      a. Tandan Buah Segar (“TBS”)                                          a. Fresh Fruit Bunch (“FFB”)

           TBS merupakan hasil utama perkebunan kelapa sawit.                  FFB is the main product of oil palm plantations. The Company
           Perseroan mengolah seluruh TBS yang diproduksi dari                 processes all of the FFB produced from the Company’s oil
           perkebunan kelapa sawit Perseroan di Pabrik Kelapa                  palm plantations in the Plam Oil mills (PKS). The Company
           Sawit (PKS). Perseroan juga mengolah TBS yang dibeli dari           also processes FFB purchased from plantations owned by
           perkebunan milik petani setempat yang dekat dengan                  local farmers close to the PKS to fulfil the capacity of the
           PKS, untuk memenuhi kapasitas PKS Perseroan dan                     Company’s PKS and improve the welfare of local farmers.
           menyejahterakan petani sekitar.


      b. Minyak Kelapa Sawit                                                b. Crude Palm Oil

           Produk utama Perseroan adalah Minyak Kelapa Sawit atau              The Company’s primary product is Crude Palm Oil (CPO).
           Crude Palm Oil (CPO). Perseroan merupakan salah satu                The Company is one of the largest private CPO producers
           produsen CPO swasta terbesar di Provinsi Kalimantan Tengah,         in Central Kalimantan, Indonesia. The Company produces
           Indonesia. Perseroan memproduksi CPO dari TBS yang                  CPO from TBS, which is produced from 23 palm plantations
           dihasilkan dari 23 kebun kelapa sawit melalui 8 (delapan)           through 8 (eight) PKS located within palm oil plantations. CPO
           PKS yang semua terletak di area operasional Perkebunan              is produced by processing TBS harvested from the Company’s
           Perseroan. CPO diekstraksi dari mesocarp yang dipisahkan            oil palm trees. CPO is extracted from the mesocarp separated
           dari buah kelapa sawit.                                             from the oil palm fruit.


      c. Inti Sawit atau Palm Kernel (“PK”)                                 c. Palm Kernel (“PK”)

           Pada waktu proses CPO, Perseroan juga memperoleh PK                 When producing CPO, the Company also obtained PK
           yang berasal dari biji kelapa sawit yang dikumpulkan pada           originating from the collected palm seeds during processing
           saat proses pengolahan. PK kemudian akan diekstrak menjadi          times. Then, the PK will be extracted into Palm Kernel Oil
           minyak inti sawit atau Palm Kernel Oil (“PKO”).                     (“PKO”).


      d. Minyak Inti Sawit atau Crude Palm Kernel Oil (“CPKO”)              d. Crude Palm Kernel Oil (“CPKO”)

           Perseroan memiliki kemampuan untuk memproduksi CPKO                 The Company can produce PKO, which is extracted from
           yang diekstrak dari biji kelapa sawit atau inti sawit dengan        the Company’s palm kernel oil seeds or KCP palm kernel by
           ekstrasi mekanis dari kernel yang dikeringkan di pabrik kelapa      mechanical extraction of kernels dried in palm oil mills through
           sawit melalui proses vakum parsial dengan asam lemak bebas          a partial vacuum process with free fatty acids from crude oil
           dari minyak mentah.                                                 generally below 2%. CPKO can be used as a final product to
                                                                               replace Cocoa Butter.



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e. RBDPO (Refined Bleached Deodorized Palm Oil)                       e. RBDPO (Refined Bleached Deodorized Palm Oil)

     RBDPO merupakan CPO (Crude Palm Oil) yang telah                       RBDPO is a CPO (Crude Palm Oil) that has undergone a
     mengalami proses pemutihan, penghilangan asam lemak                   bleaching process, removal of free fatty acids and unpleasant
     bebas dan aroma tidak sedap. RBDPO kemudian dapat diolah              odor. RBDPO can then be processed into Olein and Stearin
     menjadi produk Olein dan Stearin.                                     products.


f. RBDP Olein (Refined Bleached Deodorized Palm                       f. RBDP Olein (Refined Bleached Deodorized Palm
   Olein)                                                                Olein)

     Olein adalah fraksi cair yang diperoleh dari proses fraksinasi        Olein is the liquid fraction obtained by the RBDPO fractionation
     RBDPO setelah kristalisasi pada suhu terkontrol. Olein                process after crystallization at controlled temperatures. Olein
     memiliki ketahanan oksidasi yang baik dan umur simpan yang            has good oxidation resistance and long validation period. This
     lama. Cairan berwarna keemasan bening ini tidak memiliki              clear golden liquid is in fact tasteless and odorless. Olein is
     rasa maupun aroma. Olein juga merupakan produk akhir                  also the end product of cooking oil.
     minyak goreng.


g. RBDPS (Refined Bleached Deodorized Palm Stearin)                   g. RBDPS (Refined Bleached Deodorized Palm Stearin)

     Stearin adalah fraksi padat yang diperoleh dari proses                Stearin is a solid fraction obtained by the RBDPO fractionation
     fraksinasi RBDPO setelah kritalisasi pada suhu terkontrol.            process after crystallization at controlled temperatures.
     Stearin digunakan untuk komponen lemak padat alami bagi               Stearin is used as the natural solid fat component for products,
     produk-produk seperti shortening, margarin dan mi instan.             such as shortening, margarine and instant noodles.



h. PFAD (Palm Fatty Acid Distillate)                                  h. PFAD (Palm Fatty Acid Distillate)

     PFAD merupakan produk sampingan dari proses pemurnian                 PFAD is a by-product of the CPO refinery process. The
     (refinery) CPO. Komponen terbesar dalam PFAD adalah asam              largest components in PFAD are free fatty acids, carotenoid
     lemak bebas, komponen karotenoid, dan senyawa volatil                 components, and other volatile compounds. PFAD is a scented
     lainnya. PFAD merupakan produk yang memiliki aroma harum              product and can be used as a raw material for producing
     dan dapat digunakan sebagai bahan baku oleokimia, biofuel,            oleochemicals, biofuels, and calcium soap.
     dan sabun kalsium.


i.   PKE (Palm Kernel Expeller)                                       i.   PKE (Palm Kernel Expeller)

     PKE merupakan salah satu produk samping yang dihasilkan               PKE is one of the by-products produced from the process of
     dari proses penghancuran dan penyerapan minyak dari                   crushing and absorbing oil from palm kernel. PKE is a powder
     inti sawit. PKE berbentuk serbuk seperti tanah dan banyak             like soil and is widely used as animal feed because it contains
     digunakan debagai pakan ternak karena mengandung protein              high level of crude protein.
     kasar tingkat tinggi.



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      WILAYAH OPERASIONAL
      OPERATIONAL AREA


      Hingga akhir tahun 2023, wilayah operasional Perseroan                By the end of 2023, the Company’s operating areas will be entirely
      seluruhnya berada di Kalimantan Tengah, sebagaimana dijelaskan        located in Central Kalimantan, as explained in the following map
      dalam peta wilayah operasi Perseroan berikut.                         of the Company’s operating areas.




                                   SINGAPURA
                                    Singapore




                                                  KALIMANTAN TENGAH
                                                   Central Kalimantan




                Total Luas Lahan Dikelola                    Jumlah Petani Plasma                           Potensi minyak dalam TBS
                    (inti dan plasma)                    yang Menjadi Mitra Perusahaan                          Fat content in FFB
        Total Managed Area (Nucleus and Plasma)        Number of Independent Smallholders



        115.880,80                                             5.859                                              5,91
                                                                                                                      Ton/Ha
                      Hektare | Hectares                          Orang | Farmer


                 Hektar Luas Lahan Lainnya           Total Kapasitas Pengolahan Kelapa Sawit)                Perkebunan Kelapa Sawit
                         Other Area                      Total Palm Oil Processing Capacity                     Palm Oil Plantation



           33.309,39                                              540                                                23
                      Hektare | Hectares                            MT Ton/H                               Jumlah Estate | Estate Amount


                Luas Lahan Perseroan                     Luas Lahan Ditanami Kelapa Sawit                    Pabrik Kelapa Sawit (PKS)
           Memperoleh Hak Guna Usaha (HGU)                    Menghasilkan (Mature)                             Bersertifikat RSPO
             Land with Cultivation Rights                          Mature Area                              RSPO Certified Palm Oil Mill



           54.481,54                                    81.405,44                                                      8
                      Hektare | Hectares                        Hektare | Hectares                                     Unit


          Luas Lahan Perkebunan Petani Plasma         Luas Lahan Ditanami Kelapa Sawit Belum                 Pabrik Kelapa Sawit (PKS)
             yang Menjadi Mitra Perusahaan                   Menghasilkan (Immature)                            Palm Oil Mill (POM)
         Total Area of Independent Smallholders                   Immature Area



           22.346,51                                      1.060,28                                                     8
                                                                                                                       Unit
                      Hektare | Hectares                        Hektare | Hectares



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     Pabrik Biogas               Pabrik Bio-CNG                 Pabrik Inti Sawit       Pabrik Pemurnian         Pabrik Fraksinasi           Pabrik Kernel Crushing
     Biogas Plant                Bio-CNG Plant                  Palm Kernel Mills        Refinery Plant          Fractination Plant          Kernel Crushing Plant



         2                               1                            1                       1                          1                              1
           Unit                          Unit                         Unit                    Unit                         Unit                          Unit




UPSTREAM & MIDSTREAM - SSMS                                                             DOWNSTREAM - CBUT
#          Type               Details                           Location                 #      Type         Details                         Location

1     HO             Kantor Pusat               Pangkalan Bun, Kalimantan Tengah         11   HO       Kantor Pusat      Pangkalan Bun, Kalimantan Tengah
      HQ             Main Headquarters          Pangkalan Bun, Central Kalimantan             HQ       Main Headquarters Pangkalan Bun, Central Kalimantan

2     Kantor         Kantor Perwakilan          SCBD, Jakarta                                 Kantor   Kantor Perwakilan     SCBD, Jakarta
      Office         Representative Office      SCBD, Jakarta                            12   Office   Representative        SCBD, Jakarta
                                                                                                       Office
3     Kantor         Kantor Perdagangan         Singapura
      Office         Trading Office             Singapore                                13   Pabrik   Kilang minyak         Pangkalan Bun, Kalimantan Tengah
                                                                                              Plant    Refinery              Pangkalan Bun, Central Kalimantan
      Perkebunan MMS                            Kotawaringin Barat, Kalimantan Tengah
4     Estate     2 perkebunan + pabrik          West Kotawaringin, Central Kalimantan         Pabrik   Pabrik Fraksinasi     Pangkalan Bun, Kalimantan Tengah
                                                                                         14
                 2 estates + mill                                                             Plant    Fractionation Plant   Pangkalan Bun, Central Kalimantan
      Perkebunan MKM                            Pulau Pisau, Central Kalimantan
5     Estate     3 perkebunan + pabrik          Pulau Pisau, Kalimantan Tengah
                 3 estates + mill
      Perkebunan MPP                            Lamandau, Kalimantan Tengah
6     Estate     1 perkebunan + pabrik          Lamandau, Central Kalimantan
                 1 estates + mill
      Perkebunan KSA                            Kotawaringin Barat, Kalimantan Tengah
7     Estate     2 perkebunan + pabrik          West Kotawaringin, Central Kalimantan
                 2 estates + mill
      Perkebunan TSA                            Lamandau, Kalimantan Tengah
8     Estate     3 perkebunan + pabrik          Lamandau, Central Kalimantan
                 3 estates + mill
      Perkebunan SMU                            Lamandau, Kalimantan Tengah
9     Estate     5 perkebunan + pabrik          Lamandau, Central Kalimantan
                 5 estates + mill
      Perkebunan SSMS                           Kotawaringin Barat, Kalimantan Tengah
10    Estate     7 perkebunan + 2 pabrik        West Kotawaringin, Central Kalimantan
                 7 estates + 2 mill




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       Lahan Kelapa Sawit yang Telah Memperoleh HGU
       Land with Cultivation Rights

           Entitas           Luas Lahan                                          Lokasi                                            Masa Berlaku
            Entity              Area                                            Location                                           Validity Period
                                                                                                                   24 September 2039 dan 24 September 2042
            SSS                     16.984,62 Kondang, Rungun, Natai Raya, Sulung, Kabupaten Kotawaringin Barat
                                                                                                                   September 24, 2039 and September 24, 2042
                                                                                                                   24 September 2042 dan 11 November 2057
            KSA                         4.442,76 Natai Baru, Kondang, Rungun, Kabupaten Kotawaringin Barat
                                                                                                                   September 24, 2042 and November 11, 2057
                                                                                                                   24 September 2042 dan 11 Juli 2057
            MMS                     10.036,14 Arut Utara, Kabupaten Kotawaringin Barat
                                                                                                                   September 24, 2042 and July 11, 2057
                                                    Nanga Koring, Sungkup, Melata, Nanuah, Topalan, Kabupaten      29 Mei 2052
            TSA                         6.412,21
                                                    Lamandau                                                       May 29, 2052
                                                    Pedongatan, Nanga Koring, Toka Sepondam, Merambang, Batu       29 Mei 2052
            SMU                         8.958,98
                                                    Tunggal, Kabupaten Lamandau                                    May 29, 2052
                                                                                                                   21 September 2053
            MKM                         2.634,98 Maliku, Pandih Batu, Kabupaten Pulang Pisau
                                                                                                                   September 21, 2053
                                                    Tamiang, Bruta, Sumber Cahaya, Nanga Belantikan, Sungkup,      09 September 2056
            MPP                          3.727,11
                                                    Nuangan, Bukit Jaya, Suka Maju, Kabupaten Lamandau.            September 9, 2056




       Fasilitas Pabrik
       Plant Facilities

                                    Nama                                           Tahun Berdiri                          Kapasitas Produksi
                                    Name                                       Year of Establishment                      Production Capacity
       Pabrik Kelapa Sawit (PKS)
       Palm Oil Mill
                                                                                                                              70 ton/jam
            PKS Selangkun                                                               2013
                                                                                                                             70 tons/hour
                                                                                                                              60 ton/jam
            PKS Malata                                                                  2013
                                                                                                                             60 tons/hour
                                                                                                                              70 ton/jam
            PKS Nanga Kiu                                                               2015
                                                                                                                             70 tons/hour
                                                                                                                              90 ton/jam
            PKS Sulung                                                                 2016
                                                                                                                             70 tons/hour
                                                                                                                              60 ton/jam
            PKS Natai Baru                                                             2009
                                                                                                                             60 tons/hour
                                                                                                                              60 ton/jam
            PKS Suayap                                                                  2011
                                                                                                                             60 tons/hour
                                                                                                                              60 ton/jam
            PKS Sumber Cahaya                                                          2019
                                                                                                                             60 tons/hour
                                                                                                                              60 ton/jam
            PKS Kanamit                                                                2019
                                                                                                                             60 tons/hour
       Pabrik Inti Sawit
       Palm Kernel Mill
                                                                                                                              150 ton/hari
             KCP Suayap                                                                 2011
                                                                                                                             150 tons/hour
       Pabrik Biogas
       Biogas Plant
            Pabrik Biogas Suayap
                                                                                       2018                                       1,5 MW
            Suayap Biogas Plant
            Pabrik Biogas Natai Baru
                                                                                       2023                                       1,5 MW
            Natai Baru Biogas Plant
            Pabrik Bio-CNG Natai Baru                                                                                       4.800 Nm3/hari
                                                                                       2023
            Natai Baru Bio-CNG Plant                                                                                        4,800 Nm3/day
            Pabrik Pemurnian                                                                                      2.500 MT/hari atau 850.000 MT/tahun
            Refinery Plant                                                                                          2,500 MT/day or 850,000 MT/year
            Pabrik Fraksinasi                                                                                     2.500 MT/hari atau 850.000 MT/tahun
            Fractination Plant                                                                                      2,500 MT/day or 850,000 MT/year
            Pabrik Kernel Crushing                                                                                600 MT/hari atau 192.000 MT/tahun
            Kernel Crushing Plant                                                                                   600 MT/day or 192,000 MT/year




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KEANGGOTAAN ASOSIASI
ASSOCIATION MEMBERSHIP

Per 31 Desember 2023, Perseroan tercatat mengikuti asosiasi/   As of 31 December 2023, the Company was registered as a
organisasi sebagai berikut:                                    member of the following associations/organizations:

                             Nama Organisasi                                     Sifat Keanggotaan
                            Organization Name                                   Nature of Membership
                                                                                    Anggota Biasa
PERMI (Perhimpunan Mikrobiologi Indonesia)
                                                                                   Regular Member
                                                                                    Anggota Biasa
Gabungan Pengusaha Kelapa Sawit Indonesia (GAPKI)
                                                                                   Regular Member
                                                                                 Pendamping Asosiasi
Asosiasi Petani Kelapa Sawit Mandiri (APKSM)
                                                                                 Associate Companion
                                                                                    Anggota Biasa
Roundtable Sustainable Palm Oil (RSPO)
                                                                                   Regular Member
                                                                                    Anggota Biasa
Indonesian Sustainable Palm Oil (ISPO)
                                                                                   Regular Member
                                                                                    Anggota Biasa
Filantropi
                                                                                   Regular Member
Task Force (Substantif) RSPO dari Indonesia Growers                                 Anggota Biasa
Task Force (Substantif) RSPO from Indonesia Growers                                Regular Member




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      STRUKTUR ORGANISASI
      ORGANIZATIONAL STRUCTURE

      Struktur Organisasi Perseroan telah dikaji dan disetujui oleh Dewan             The Company’s Organizational Structure has been reviewed and
      Komisaris dan Direksi dengan memperhatikan perkembangan                         approved by the Board of Commissioners and the Board of Directors
      bisnis dan organisasi ke depan. Adapun Struktur Organisasi                      by considering the future development of the Company’s business
      Perseroan berdasarkan Surat Keputusan No. F-HRDGA.GN-001.                       and organization. The Company’s Organizational Structure based
      tanggal 1 Desember 2022 adalah sebagai berikut:                                 on Decree No F-HRDGA.GN-001. Dated December 1, 2022, are as
                                                                                      follows:




                                                                Komite
                                                            Remunerasi &
          Komite Audit                                        Nominasi
         Audit Committee                                    Remuneration
                                                             & Nomination
                                                              Committee




                                                                                                                                    Direktur
                                                                                                                                  Operasional
                                                                                                                                Chief Operational
                                                                                                                                      Officer

                                                                                                                                M. Syafril Harahap




                                                                           Divisi HRD & GA                                           Direktur
          Audit Internal
                                                                          HRD & GA Division                                        Perkebunan
          Internal Audit                Legal & Perizinan
                                                                                                                                Plantation Director
                                         Legal & License
                                                                            Hendri Ratoe
          Anjar Widiarso
                                                                              Bachtiar                                               Vacant




                                                                                                                  Perkebunan
           Perwakilan                                                                                               Regional
                                                             Personalia                                                                         Teknik Upstream
             Jakarta                    Manajemen Risiko                                       Medis           Regional Plantation
                                                              & Umum                                                                               Upstream
          Represntative                 Risk Management                                        Medical             Regional I
                                                              HR & GA                                                                             Engineering
              Office                                                                                               Regional II
                                                                                                                  Regional III




                                                                                                                                                    Sistem
                           Manajemen                                       Tanggung Jawab
                                                                                                                   Plasma                        Manajemen Air
                           Rantai Pasok                                   Sosial Perusahaan
                                                                                                                    Plasma                           Water
                           Supply Chain                                     Corporate Social
                                                                                                                  Smallholder                     Management
                           Management                                        Responsibility
                                                                                                                                                    System




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                   Rapat Umum
                 Pemegang saham
                     (RUPS)
                 General Meeting of
                 Shareholders (GMS)




                 Dewan Komisaris
                    Board of
                  Commisioners




                 Direktur Utama
                 Chief Executive
                     Officer

                     Nasarudin
                     Bin Nasir




                    Direktur
                   Keuangan
                  Chief Financial
                      Officer

                     Jap Hartono




                                                       Group Head                                  Sekretaris
                                                        Marketing      Penelitian &               Perusahaan
   Keuangan
                                        Pajak          Group Head     Pengembangan             Corporate Secretary
  Perusahaan
                                         Tax            Marketing       Research &
Corporate Finance
                                                                       Development                      cover by
                                                         Vacant                                       Jap Hartono




    Teknologi                       Penjamin Risiko   Pemasaran dan
                                                                                                Divisi Perkebunan
    Informasi                         Perusahaan        Penjualan     Sustainability
                                                                                                 Estate Plantation
   Information                       Corporate Risk     Sales and     Sustainability
                                                                                                      Division
   Technology                          Assurance        Marketing




                                   Penasihat Relasi
    Pengawas                        Pemerintah &
                                                                                   Legal Perusahaan
    Keuangan                         Perbankan
                                                                                    Corporate Legal
Finance Controller                  Gov. & Banking
                                   Relation Advisor




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      PROFIL DEWAN KOMISARIS
      PROFILE OF BOARD OF COMMISSIONERS
                                          PROF. DR. IR.
                                           BUNGARAN
                                             SARAGIH
                                                       Komisaris Utama
                                                 President Commissioner

                                               Periode Jabatan / Term of Office
                                                       2023-2028, Periode ke-3
                                                          2023-2028, 3rd Period




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Data Pribadi                                                        Personal Data
Warga Negara Indonesia, berusia 78 tahun, dan berdomisili di        Indonesian Citizen, 78 years old, and domiciled in Jakarta,
Jakarta, Indonesia.                                                 Indonesia.


Riwayat Penunjukkan                                                 Appointment History
Menjabat Komisaris Utama Perseroan sejak 12 Agustus 2013            Serving as the Company’s President Commissioner since August
berdasarkan Akta Keputusan Rapat tanggal 12 Agustus 2013 untuk      12, 2013, based on the Deed of Meeting Resolution dated August 12,
periode kerja 2013-2018. Beliau diangkat kembali berdasarkan        2013, for the 2013–2018 working period. Then he was reappointed
Akta Keputusan Rapat tanggal 22 Oktober 2018 untuk periode          under the Deed of Meeting Resolution dated October 22, 2018 for
kerja 2018-2023, Kemudian untuk kali ketiga pada tanggal 5          the 2018-2023 working period, and reappointed for the third times
Desember 2023 untuk periode 2023-2028.                              on December 5, 2023 for the 2023-2028 working period.


Pendidikan                                                          Education
Bungaran Saragih menyelesaikan gelar Sarjana (Ir) Ekonomi           Bungaran Saragih completed his Bachelor (Ir) degree in
Pertanian dari Fakultas Pertanian Institut Pertanian Bogor pada     Agricultural Economics from the Faculty of Agriculture, Bogor
tahun 1971. Beliau kemudian melanjutkan pendidikan tinggi di        Agricultural University, in 1971. He then went on to pursue higher
Amerika Serikat dan mendapatkan gelar M.Ec. gelar di bidang         education in the United States and received his M.Ec. degree
Ekonomi dengan minor di bidang Statistik dari Departemen            in Economics with a minor in Statistics from the Department of
Ekonomi dan Bisnis, North Carolina State University, pada tahun     Economics and Business, North Carolina State University, in 1977.
1977. Perjalanan akademisnya terus berlanjut, dan ia memperoleh     His academic pursuits continued, and he earned his Ph.D. degree
gelar Doktor di bidang Philosophy on Economics dari universitas     in Economic Philosophy from the same university in 1980.
yang sama pada tahun 1980.


Riwayat Jabatan                                                     Position History
Berkarir selama lebih dari 45 tahun di industri perkebunan kelapa   Has built career for more than 45 years in palm oil industry, and
sawit, dan menduduki jabatan antara lain:                           served as:
• Komisaris Utama PT Pupuk Indonesia (Juni 2015-Juni 2020).         • President Commissioner of PT Pupuk Indonesia (June 2015-
                                                                        June 2020).
•   Komisaris PT Rea Kaltim Plantations (2007).                     • Commissioner of PT Rea Kaltim Plantations (2007).
•   Ketua Dewan Pembina Borneo Orangutan Survival Foundation        • Chairman of Trustees of Borneo Orangutan Survival Foundation
    (2006).                                                             (2006).
•   Penasihat PT Japfa Comfeed Indonesia Tbk (2006).                • Advisor of PT Japfa Comfeed Indonesia Tbk (2006).
•   Ketua Dewan Gubernur International Fund for Agricultural        • Chairman of Governing Councilof the International Fund for
    Development.                                                        Agricultural Development (2002-2004)
•   Menteri Pertanian RI tahun 2001 – 2004.                         • Indonesian Minister of Agriculture for 2001 – 2004
•   Menteri Pertanian dan Kehutanan RI tahun 2000 - 2001.           • Minister of Agriculture and Forestry of Republic of Indonesia
                                                                        for 2000 - 2001


Rangkap Jabatan                                                     Concurrent Position
Hingga akhir tahun 2023, Bungaran Saragih memiliki jabatan lain     By the end of 2023, Bungaran Saragih held other positions as Board
sebagai Dewan Komisaris dan Direktur di beberapa Perusahaan.        of Commissioners and Board of Directors in several companies.


Hubungan Afiliasi                                                   Affiliation
Bungaran Saragih tidak memiliki hubungan afiliasi dengan Direksi,   Bungaran Saragih has no affiliation with the Board of Directors, the
Dewan Komisaris dan pemegang saham lainnya.                         Board of Commissioners, or other shareholders.


Kepemilikan Saham                                                   Shareholding
Hingga akhir tahun 2023, Bungaran Saragih tidak memiliki Saham      In 2023, Bungaran Saragih did not own shares of the Company
Perseroan.




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                                        HOESEN
                                            Komisaris Independen
                                        Independent Commissioner

                                        Periode Jabatan / Term of Office
                                                2022-2027, Periode ke-1
                                                   2022-2027, 1st Period




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Data Pribadi                                                       Personal Data
Warga Negara Indonesia, berusia 57 tahun, dan berdomisili di       Indonesian Citizen, 57 years old, and domiciled in Jakarta,
Jakarta, Indonesia.                                                Indonesia.


Riwayat Penunjukkan                                                Appointment History
Menjabat Komisaris Independen Perseroan untuk pertama kalinya      Serving as the Company’s Independent Commissioner for the first
sejak 30 September 2022 berdasarkan Akta Keputusan Rapat No.       time since September 30, 2022, based on the Deed of Meeting
64 tanggal 30 September 2022 untuk periode kerja 2022-2027.        Resolutions No. 64 dated September 30, 2022, for the 2022–2027
                                                                   working period.


Pendidikan                                                         Education
Hoesen memperoleh gelar Sarjana Pertanian dari Universitas         Hoesen obtained his Bachelor degree in Agriculture from
Padjajaran pada tahun 1990. Beliau kemudian melanjutkan            Padjajaran University, in 1990. He then went on to pursue his
pendidikan Master Manajemen Keuangan dari Universitas Pelita       Master education in Financial Management from Pelita Harapan
Harapan, Jakarta.                                                  Univesity.


Riwayat Jabatan                                                    Position History
Berkarir selama lebih dari 30 tahun di industri keuangan, dan      Has built career for more than 30 years in financial industry, and
menduduki jabatan antara lain:                                     served as:
• Komisaris Independen PT Kliring Penjaminan Efek Indonesia        • Independent Commissioner PT Kliring Penjaminan Efek
   (2022 - saat ini)                                                   Indonesia (2022 - present)
• Dewan Komisioner, Kepala Pengawas Pasar Modal di Otoritas        • Board of Commissioner, Head of Capital Market Supervisor in
   Jasa Keuangan (2017 – 2022)                                         Financial Service Authority (2017-2022)
• Komisaris PT Danareksa Capital (2015-2017)                       • Commissioner of PT Danareksa Capital (2015-2017)
• Komisaris PT Danareksa Investment Management (2015-2017)         • Commissioner of PT Danareksa Investment Management
                                                                       (2015-2017)
•   Direktur PT Danareksa (Persero) (2015 – 2017)                  • Director of PT Danareksa (Persero) (2015 – 2017)
•   Direktur Penilaian Perusahaan di PT Bursa Efek Indonesia       • Director of Corporate Valuation in PT Bursa Efek Indonesia
    (2012-2015)                                                        (2012-2015)
•   Direktur Utama PT Kliring Penjaminan Efek Indonesia (2009-     • President Director of PT Kliring Penjaminan Efek Indonesia
    2012)                                                              (2009-2012)
•   Direktur PT Kliring Penjaminan Efek Indonesia (2006-2009)      • Director of PT Kliring Penjaminan Efek Indonesia (2006-2009)


Rangkap Jabatan                                                    Concurrent Position
Hingga akhir tahun 2023, Hoesen memiliki jabatan lain sebagai      By the end of 2023, Hoesen held other positions as President
Komisaris Utama dan Komisaris Independen PT Mandiri Sekuritas,     Commissioner and Independent Commissioner of PT Mandiri
Komisaris Utama PT Kliring Penjamin Efek Indonesia dan Komisaris   Sekuritas, President Commissioner of PT Kliring Penjamin Efek
Independen PT Samudera Indonesia Tbk. Komisaris Independen         Indonesia and Independent Commissioner of PT Samudera
PT Kliring Penjamin Efek Indonesia                                 Indonesia Tbk. Independent Commissioner of PT Kliring Penjamin
                                                                   Efek Indonesia


Hubungan Afiliasi                                                  Affiliation
Hoesen tidak memiliki hubungan afiliasi dengan Direksi, Dewan      Hoesen has no affiliation with the Board of Directors, the Board of
Komisaris dan pemegang saham lainnya.                              Commissioners, or other shareholders.


Kepemilikan Saham                                                  Shareholding
Pada tahun 2023, Hoesen tidak memiliki Saham Perseroan.            In 2023, Hoesen did not own shares of the Company.




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                                           IR. RIMBUN
                                        SITUMORANG
                                                               Komisaris
                                                            Commissioner

                                              Periode Jabatan / Term of Office
                                                      2021-2026, Periode ke-2
                                                        2021-2026, 2nd Period




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Data Pribadi                                                        Personal Data
Warga Negara Indonesia, berusia 56 tahun, dan berdomisili di        Indonesian Citizen, 56 years old, and domiciled in Pangkalan Bun,
Pangkalan Bun, Kalimantan Tengah, Indonesia.                        Central Kalimantan, Indonesia.


Riwayat Penunjukkan                                                 Appointment History
Rimbun Situmorang ditunjuk sebagai Komisaris Perseroan untuk        Rimbun Situmorang was appointed as the Company’s Commissioner
pertama kalinya berdasarkan Akta Keputusan Rapat No. 22 tanggal     for the first time based on the Deed of Meeting Resolutions No. 22
31 Agustus 2016 untuk periode kerja 2016-2021. Beliau diangkat      dated August 31, 2016, for the 2016–2021 working period. Then he
kembali berdasarkan Akta Keputusan Rapat No. 55 tanggal 28 Mei      was reappointed under the Deed of Meeting Resolutions No. 55
2021 untuk periode kerja 2021-2026.                                 dated May 28, 2021, for the 2021–2026 working period.


Pendidikan                                                          Education
Rimbun Situmorang menyelesaikan Pendidikan Sarjana Teknik           Rimbun Situmorang completed his Bachelor Degree in
di Institut Teknologi Tumpal Dorianus Pardede tahun 1989.           Engineering from Tumpal Dorianus Pardede Institute of
Melanjutkan Pendidikan Pasca Sarjana (S2) Magister Manajemen        Technology in 1989. He continued his post-graduate Education
di Sekolah Tinggi PPM Manajemen                                     (S2) Master of Management at PPM Management College


Riwayat Jabatan                                                     Position History
Berkarir selama lebih dari 30 tahun di industri perkebunan kelapa      Has built career for more than 30 years in palm oil industry, and
sawit, dan menduduki jabatan antara lain;                              served as:
•	 Direktur PT Pesona Citra Propertindo (2019-2023)                   •	 Director of PT Pesona Citra Propertindo (2019-2023)
•	 Direktur Utama PT Citra Kencanamas Abadi (2017-2022)               • 	 President Director of PT Citra Kencanamas Abadi (2017-2022)
•	 Direktur Utama PT Citra Borneo Chemical (2016-2022)                  •  	 President Director of PT Citra Borneo Chemical (2016-2022)
•	 Komisaris Utama PT Citra Borneo Utama (2013-2022)                •  	 President Commissioner of PT Citra Borneo Utama (2013-2022)
•	 Direktur Utama PT Surya Borneo Industri (2013-2021)                    • 	 President Director of PT Surya Borneo Industri (2013-2021)
•	 Direktur Utama PT Sawit Sumbermas Sarana (2013-2016)                    • 	 President Director of PT Sawit Sumbermas Sarana (2013-2016)
•	 Direktur Utama PT Citra Borneo Indah (2011-2022)                         • 	 President Director of PT Citra Borneo Indah (2011-2022)
•	 Komisaris Utama PT Pelayaran Senggora (2011-2017)                •  	 President Commissioner of PT Pelayaran Senggora (2011-2017)
•	 Komisaris Utama PT Kalimantan Sawit Abadi (2011-2013)           •  	 President Commissioner of PT Kalimantan Sawit Abadi (2011-2013)
•	 Direktur PT Ahmad Saleh Perkasa (2009-2011)                               • 	 Director of PT Ahmad Saleh Perkasa (2009-2011)
•	 Komisaris PT Sawit Multi Utama (2009-2011)                                 • 	 Commissioner of PT Sawit Multi Utama (2009-2011)
•	 Direktur Utama PT Tanjung Sawit Abadi (2005-2011)                           • 	 President Director of PT Tanjung Sawit Abadi (2005-2011)
•	 Direktur PT Sawit Mandiri Lestari (2005-2007)                                • 	 Director of PT Sawit Mandiri Lestari (2005-2007)
•	 Direktur PT Sawit Multi Utama (2005-2007)                                     • 	 Director of PT Sawit Multi Utama (2005-2007
•	 Direktur PT Citra Borneo Indah (2005-2007)                                     • Director of PT Citra Borneo Indah (2005-2007)
•	 Direktur PT Kalimantan Sawit Abadi (2005-2007)                                  • 	 Director of PT Kalimantan Sawit Abadi (2005-2007)
•	 Direktur PT Sawit Sumbermas Sarana (2005-2007)                                   • 	 Director of PT Sawit Sumbermas Sarana (2005-2007)
•	 Direktur PT Tanjung Sawit Abadi (2005-2007)                                       • 	 Director of PT Tanjung Sawit Abadi (2005-2007)
•	 Direktur PT Mitra Mendawai Sejati (2005-2007)                                      • 	 Director of PT Mitra Mendawai Sejati (2005-2007)
•	 Direktur Utama PT Tanjung Sawit Abadi (2003-2005)                                   • 	 President Director of PT Tanjung Sawit Abadi (2003-2005)
•	 Komisaris PT Citra Borneo Indah (2000-2003)                                          • 	 Commissioner of PT Citra Borneo Indah (2000-2003)
•	 Marketing Manager PT Mendawai Putra (1997-1999)                                       • 	 Marketing Manager PT Mendawai Putra (1997-1999)
•    Head of Commerce PT Barito Putra Nirwana (1994-1997)                                 • 	 Head of Commerce PT Barito Putra Nirwana (1994-1997)
  •	 Forestry & Shipping Staff PT Rimba Karya Kalimantan (1992-                            • 	 Forestry & Shipping Staff PT Rimba Karya Kalimantan (1992-
      1994)                                                                                         1994)
  •  Staff PT Tanjung Lingga (1991-1992)                                                    • 	 Staff PT Tanjung Lingga (1991-1992)


Rangkap Jabatan                                                     Concurrent Position
Hingga akhir tahun 2023, Rimbun Situmorang memiliki jabatan         By the end of 2023, Rimbun Situmorang held other positions
sebagai Direktur PT Pelayaran Lingga Marintama, dan Komisaris       as Director of PT Pelayaran Lingga Marintama, and President
Utama PT BPR Lingga Sejahtera.                                      Commissioner of PT BPR Lingga Sejahtera.


Hubungan Afiliasi                                                   Affiliation
Rimbun Situmorang tidak memiliki hubungan afiliasi dengan           Rimbun Situmorang has no affiliation with the Board of
Dewan Komisaris, Direksi, dan pemegang saham lainnya.               Commissioners, Board of Directors, or other shareholders.


Kepemilikan Saham                                                   Shareholding
Pada tahun 2023, Rimbun Situmorang tidak memiliki Saham             In 2023, Rimbun Situmorang did not own shares of the Company.
Perseroan.




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      PROFIL DIREKSI
      PROFILE OF BOARD OF DIRECTORS
                                        NASARUDIN
                                         BIN NASIR
                                                       Direktur Utama
                                                     President Director

                                           Periode Jabatan / Term of Office
                                                   2022-2027, Periode ke-1
                                                      2022-2027, 1st Period




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Data Pribadi                                                         Personal Data
Warga Negara Malaysia, berusia 56 tahun, dan berdomisili di          Malaysian Citizen, 56 years old, and domiciled in Pangkalan Bun,
Pangkalan Bun, Kalimantan Tengah, Indonesia.                         Central Kalimantan, Indonesia.


Riwayat Penunjukan                                                   Appointment History
Nasarudin Bin Nasir diangkat sebagai Direktur Utama Perseroan        Nasarudin Bin Nasir was appointed as the Company’s President
untuk pertama kalinya berdasarkan Akta Keputusan Rapat No. 5         Director for the first time based on the Deed of Meeting
tanggal 7 Januari 2022 untuk periode kerja 2022-2027. Sebelumnya     Resolutions No. 5 on January 7, 2022, for the 2022–2027 working
beliau menjabat sebagai Direktur Perseroan sejak 2018 berdasarkan    period. Previously he served as the Company’s Director since 2018
Akta Keputusan Rapat No. 12 tanggal 26 April 2018.                   under the Deed of Meeting Resolutions No. 12 dated April 26, 2018.


Tugas dan Tanggung Jawab                                             Duties and Responsibilities
Sebagai Direktur Utama, Nasarudin Bin Nasir bertanggung              As President Director, Nasarudin Bin Nasir is responsible for all
jawab atas seluruh aktivitas Perusahaan dan berperan sebagai         Company activities and acts as coordinator for all implementation
koordinator atas seluruh pelaksanaan fungsi, tugas dan tanggung      of functions, duties and responsibilities within Board of Directors.
jawab di jajaran Direksi.


Pendidikan                                                           Education
Beliau memperoleh gelar Sarjana Muda bidang Planting Industry        He obtained Diploma Degree in Planting Industry Management
Management dari Mara University of Technology (UITM), Malaysia       from Mara University of Technology (UITM), Malaysia in 1991.
pada tahun 1991.


Riwayat Jabatan                                                      Position History
•   Direktur Perseroan (2018 – 2022)                                 •   Director of The Company (2018 – 2022)
•   Acting COO Plantation of PT Sawit Sumbermas Sarana Tbk           •   Acting COO Plantation of PT Sawit Sumbermas Sarana Tbk
    (2017-2018)                                                          (2017-2018)
•   Regional Head I of PT Sawit Sumbermas Sarana Tbk (2013-          •   Regional Head I of PT Sawit Sumbermas Sarana Tbk (2013-
    2017)                                                                2017)
•   Regional Head II of PT Sawit Sumbermas Sarana Tbk (2011-         •   Regional Head II of PT Sawit Sumbermas Sarana Tbk (2011-
    2013)                                                                2013)
•   General Manager di Suayap Wilayah 3 PT Sawit Sumbermas           •   General Manager at Suayap Region 3 of PT Sawit Sumbermas
    Sarana Tbk (2009 – 2010)                                             Sarana Tbk (2009 – 2010)
•   Senior Manager di PT Tanjung Lingga (Rangda Estate) (2007-       •   Senior Manager of PT Tanjung Lingga (Randa Estate) (2007-
    2008)                                                                2008)
•   Divisional Manager di IJK Plantation Berhad (Mamahat Estate)     •   Divisional Manager of IJK Plantation Berhad (Mamahat Estate)
    (2003-2006)                                                          (2003-2006)
•   IJM Plantation Berhad (Sg. Sabang Estate) (2002-2003)            •   IJM Plantation Berhad (Sg. Sabang Estate) (2002-2003)
•   Acting Manager di Tabung Haji Plantation (Ladang Bukit Gold)     •   Acting Manager di Tabung Haji Plantation (Ladang Bukit Gold)
    (1999-2001)                                                          (1999-2001)
•   Senior Assistant di Tabung Haji Plantation (Sabaco Estate)       •   Senior Assistant di Tabung Haji Plantation (Sabaco Estate)
    (1997-1999)                                                          (1997-1999)
•   Cadet Planter to Senior Assistant di IJM Plantations Sdn. Bhd.   •   Cadet Planter to Senior Assistant at IJM Plantations Sdn. Bhd.
    (Desa Talisai Estate) (1995-1996)                                    (Desa Talisai Estate) (1995-1996)


Rangkap Jabatan                                                      Concurrent Position
Hingga akhir tahun 2023, Nasarudin Bin Nasir tidak memiliki          By the end of 2023, Nasarudin Bin Nasir did not have concurrent
rangkap jabatan sebagai Direksi, Dewan Komisaris atau jabatan        positions as member of Board of Directors, Board of Commissioners,
lainnya di Perusahaan atau Institusi lainnya.                        or other positions in other Companies or Institutions.


Hubungan Afiliasi                                                    Affiliation
Nasarudin Bin Nasir tidak memiliki hubungan afiliasi dengan          Nasarudin Bin Nasir has no affiliation with the Board of
Dewan Komisaris, Direksi, dan pemegang saham lainnya.                Commissioners, Board of Directors, or other shareholders.


Kepemilikan Saham                                                    Shareholding
Pada tahun 2023, Nasarudin Bin Nasir       tidak memiliki Saham      In 2023, Nasarudin Bin Nasir did not own the Company’s shares.
Perseroan.



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                                             JAP
                                        HARTONO
                                                               Direktur
                                                               Director

                                          Periode Jabatan / Term of Office
                                                  2021-2026, Periode ke-1
                                                     2021-2026, 1st Period




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Data Pribadi                                                        Personal Data
Warga Negara Indonesia, berusia 52 tahun, dan untuk sementara       Indonesian Citizen, 52 years old, and domiciled in Pangkalan Bun,
bertempat tinggal di Pangkalan Bun, Kalimantan Tengah, Indonesia.   Central Kalimantan, Indonesia.


Riwayat Penunjukan                                                  Appointment History
Jap Hartono menjabat sebagai Direktur Perseroan untuk pertama       Jap Hartono has served as Director of the Company for the first
kalinya berdasarkan Akta Keputusan Rapat No. 55 tanggal 28 Mei      time based on the Deed of Meeting Resolutions No. 55 on May 28,
2021 untuk periode kerja 2021-2026.                                 2021, for the 2021–2026 working period.


Tugas dan Tanggung Jawab                                            Duties and Responsibilities
Sebagai Direktur Keuangan, Jap Hartono bertanggung jawab            As Director of Finance (Chief Financial Officer), Jap Hartono is
atas seluruh aktivitas yang terkait dengan Keuangan Perusahaan,     responsible for all activities related to Corporate Finance, Financial
Pengawasan Keuangan, Hukum, Manajemen Risiko, Relasi                Supervision, Legal, Risk Management, Government Relations and
Pemerintah dan Perbankan.                                           Banking.


Pendidikan                                                          Education
Jap Hartono menyelesaikan gelar Sarjana bidang Administrasi         Jap Hartono completed his bachelor’s degree in business
Bisnis dari Finance College of Business Administration, The         administration from Finance College of Business Administration,
University of Texas AT Austin Austin, USA (1992). Kemudia beliau    The University of Texas AT Austin Austin, USA (1992). Then he
melanjutkan Pendidikan Master of Business Administration dari       continued his education in Master of Business Administration from
Universitas Boston, USA (1994).                                     Boston University, USA (1994).


Riwayat Jabatan                                                     Position History
•	  Direktur/Chief Financial Officer PT Sawit Sumbermas Sarana     •	   Director/Chief Financial Officer PT Sawit Sumbermas Sarana
     Tbk sampai saat ini.                                                 Tbk until now.
• 	Direktur Keuangan di PT Kencana Agri Ltd Indonesia (2017-      •	   Chief Financial Officer (CFO) of PT Kencana Agri Ltd Indonesia
     2019).                                                               (2017-2019).
• 	 Deputy President Director dan President Director di PT Intan   •	   Deputy President Director and President Director of PT Intan
     Baruprama Finance Tbk (2012-2017).                                   Baruprama Finance Tbk (2012-2017).
• 	 Direktur di Bank ICB Bumiputera Tbk untuk 2 (dua) periode      •	   Director of Bank ICB Bumiputera Tbk for 2 (two) period (2009-
     (2009-2012).                                                         2012).
• 	 Treasure di Raja Garuda Mas Group (2008).                      •	   Treasure of Raja Garuda Mas Group (2008).
• 	 Direktur di UBS Wealth Management Singapore (2006-2008).       •	   Direktur of UBS Wealth Management Singapore (2006-2008).
• 	 Vice President di ABN AMRO Indonesia (1999-2006).              •	   Vice President of ABN AMRO Indonesia (1999-2006).
• 	 Assistant Banking dan Manager Corporate Banking di American    •	   Assistant Banking and Manager Corporate Banking at
     Express Bank Jakarta (1995-1999).                                    American Express Bank Jakarta (1995-1999).


Rangkap Jabatan                                                     Concurrent Position
Hingga akhir tahun 2023, Jap Hartono tidak memiliki rangkap         By the end of 2023, Jap Hartono did not have concurrent positions
jabatan sebagai Direksi, Dewan Komisaris atau jabatan lainnya di    as member of Board of Directors, Board of Commissioners, or
Perusahaan atau Institusi lainnya.                                  other positions in other Companies or Institutions.


Hubungan Afiliasi                                                   Affiliation
Jap Hartono tidak memiliki hubungan afiliasi dengan Dewan           Jap Hartono has no affiliation with the Board of Commissioners,
Komisaris, Direksi, dan pemegang saham lainnya.                     the Board of Directors, or other shareholders.


Kepemilikan Saham                                                   Shareholding
Pada tahun 2023 Jap Hartono tidak memiliki Saham Perseroan.         In 2023, Jap Hartono did not own the Company shares.




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                                        M. SYAFRIL
                                         HARAHAP
                                                                Direktur
                                                                Director

                                           Periode Jabatan / Term of Office
                                                   2022-2027, Periode ke-1
                                                      2022-2027, 1st Period




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Data Pribadi                                                         Personal Data
Warga Negara Indonesia, berusia 46 tahun, dan berdomisili di         Indonesian Citizen, 46 years old, and domiciled in Pangkalan Bun,
Pangkalan Bun, Kalimantan Tengah, Indonesia.                         Central Kalimantan, Indonesia.


Riwayat Penunjukan                                                   Appointment History
M. Syafril Harahap menjabat sebagai Direktur Perseroan untuk         M. Syafril Harahap held position as Director of the Company for
pertama kalinya pada 7 Januari 2022 berdasarkan Akta Keputusan       the first time since January 7, 2022, based on the Deed of Meeting
Rapat No. 5 tanggal 7 Januari 2022 untuk periode kerja 2022-2027.    Resolutions No. 5 on January 7, 2022, for the 2022–2027 working
                                                                     period.


Tugas dan Tanggung Jawab                                             Duties and Responsibilities
Sebagai Direktur Operasional, M. Syafril Harahap bertanggung         As Director of Operations (Chief Operational Officer), M. Syafril
jawab atas seluruh aktivitas terkait dengan operasional              Harahap is responsible for all activities related to plantation
perkebunan, termasuk juga produksi, area perkebunan serta            operations, including production, plantation area and plasma.
plasma.


Pendidikan                                                           Education
Memperoleh gelar Sarjana (Ir) bidang Pertanian dari Universitas      He obtained Bachelor (Ir) degree in Agricultural from Riau
Riau pada tahun 2001.                                                University in 2001.


Riwayat Jabatan                                                      Position History
•   Regional Head of Region III PT Sawit Sumbermas Sarana Tbk        •   Regional Head of Region III PT Sawit Sumbermas Sarana Tbk
    (2020)                                                               (2020)
•   Group Manager of Region II PT Sawit Sumbermas Sarana Tbk         •   Group Manager of Region II PT Sawit Sumbermas Sarana Tbk
    (2017-2019)                                                          (2017-2019)
•   Estate Manager of Region I PT Sawit Sumbermas Sarana Tbk         •   Estate Manager of Region I PT Sawit Sumbermas Sarana Tbk
    (2014-2016)                                                          (2014-2016)
•   Estate Manager MP Evan, PLC. (2011-2016)                         •   Estate Manager MP Evan, PLC. (2011-2016)
•   Head Assisstant, MP Evan, PLC. (2011)                            •   Head Assisstant, MP Evan, PLC. (2011)


Rangkap Jabatan                                                      Concurrent Position
Hingga akhir tahun 2023, M. Syafril Harahap tidak memiliki rangkap   By the end of 2023, M. Syafril Harahap did not have concurrent
jabatan sebagai Direksi, Dewan Komisaris atau jabatan lainnya di     positions as member of Board of Directors, Board of Commissioners,
Perusahaan atau Institusi lainnya.                                   or other positions in other Companies or Institutions.


Hubungan Afiliasi                                                    Affiliation
M. Syafril Harahap tidak memiliki hubungan afiliasi dengan Dewan     M. Syafril Harahap has no affiliation with the Board of
Komisaris, Direksi, dan pemegang saham lainnya.                      Commissioners, the Board of Directors, or other shareholders.


Kepemilikan Saham                                                    Shareholding
Pada tahun 2023, M. Syafril Harahap tidak memiliki Saham             In 2023, M. Syafril Harahap did not own the Company’s shares.
Perseroan.




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      PERUBAHAN SUSUNAN DIREKSI DAN DEWAN KOMISARIS SELAMA TAHUN BUKU 2023
      CHANGE IN STRUCTURE OF THE BOARD OF DIRECTORS AND BOARD OF COMMISSIONERS IN THE 2023 FISCAL YEAR

      Tidak terdapat perubahan susunan Direksi dan Dewan Komisaris                        There were no changes in the composition of SSMS’s the Board of
      SSMS selama tahun buku 2023.                                                        Directors and the Board of Commissioners during the fiscal year
                                                                                          2023.



      PROFIL SUMBER DAYA MANUSIA
      HUMAN RESOURCES PROFILE

      Perseroan tercatat memiliki 18.044 karyawan hingga akhir                            It was recorded that by the end of 2023, the Company had 18,044
      tahun 2023. Berdasarkan total Pekerja tersebut, Pekerja yang                        employees. Based on the total number of employees, as many as
      berkontribusi di PT Sawit Sumbermas Sarana Tbk sebanyak 13.350                      13,350 employees contribute to PT Sawit Sumbermas Sarana Tbk,
      karyawan, Pekerja yang berkontribusi di entitas anak sebanyak                       and 13,133 employees contribute to subsidiary entities. In addition
      13.133 karyawan. Selain pekerja di atas, Perseroan memiliki pekerja                 to the above workers, the Company has other workers who are not
      lain yang bukan karyawan. Berikut data demografi karyawan                           employees. The following is demographic data for the Company’s
      Perseroan berdasarkan unit bisnis, jenis kelamin, usia, jenjang                     employees based on business unit, gender, age, education level,
      pendidikan, level jabatan, dan status kepegawaian.                                  position level, and employment status.



       Komposisi Karyawan Berdasarkan Unit Bisnis dan Gender
       Employee Composition Based on Business Unit and Gender

                                                          2023                                        2022                                         2021
                  Unit Bisnis
                 Business Unit          Laki-laki       Perempuan      Jumlah       Laki-laki       Perempuan      Jumlah        Laki-laki       Perempuan      Jumlah
                                          Male           Female         Total         Male           Female         Total          Male           Female         Total
       Perusahaan (SSMS)
                                             3.393           1.301        4694           3.694           1.557        5.251           3.776           1.444        5.220
       The Company (SSMS)
       Anak Perusahaan
                                           10.098            3.252       13.350         11.145           3.800       14.945          10.073           3.662        13.735
       Subsidiary
       Entitas Asosiasi
                                                    0             0             0               0             0             0                0             0             -
       Associates Entities
       Jumlah
                                            13.491           4.553       18.044         14.839           5.357       20.196          13.849           5.106       18.955
       Total



       Komposisi Karyawan Berdasarkan Wilayah Kerja dan Gender
       Employee Composition Based on Operating Area and Gender

                                                          2023                                        2022                                         2021
                    Lokasi
                   Location             Laki-laki       Perempuan      Jumlah       Laki-laki       Perempuan      Jumlah        Laki-laki       Perempuan      Jumlah
                                          Male           Female         Total         Male           Female         Total          Male           Female         Total
       Pangkalan Bun                          582                127       709             401            108           509             371               95         466
       Jakarta                                  26                13        39              28                13            41           28                11         39
       Pulang Pisau                          2.317            583         2.900          3.076            767         3.843           3.741           1.137        4.878
       PKS Regional I & II                     815               85        900            996                88       1.084            954                87        1.041
       Estate Regional I & II                9.751           3.743       13.494         10.338           4.379        14.717          8.755           3.774       12.529
       Palangka Raya                                0             2             2               0             2             2                0             2             2
       Jumlah
                                            13.491           4.553       18.044         14.839           5.357       20.196          13.849           5.106       18.955
       Total




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                                                                                                                                PROFIL PERUSAHAAN
                                                                                                                                             COMPANY PROFILE   03

Komposisi Karyawan Berdasarkan Tingkat Pendidikan dan Gender
Employee Composition Based on Education Level and Gender

                                           2023                                    2022                                      2021
    Tingkat Pendidikan
      Education Level       Laki-laki    Perempuan      Jumlah      Laki-laki    Perempuan      Jumlah      Laki-laki     Perempuan          Jumlah
                              Male        Female         Total        Male        Female         Total        Male          Female            Total
Dibawah SMA/Sederajat
Under Junior High School/        6.743        2.604        9.347         9.129        3.584        12.713       10.620            4.179           14.799
Equivalent
SMA/Sederajat
Junior High School/              5.833        1.541        7.374         4.940        1.456        6.396         2.660              724            3.384
Equivalent
D1, 2, 3
                                   166            98         264           144             75        219            97               48               145
Diploma
S1
                                   719         298         1.017          596             234        830          438               157               595
Graduate
S2/S3
                                    30             12         42            29             9          38            23                 9               32
Post Graduate
Jumlah
                                13.491        4.553       18.044        14.838        5.358       20.196        13.838            5.117           18.955
Total



Komposisi Pegawai Berdasarkan Rentang Usia dan Gender
Employee Composition Based on Age Range and Gender

                                           2023                                    2022                                      2021
         Rentang Usia
          Age Range         Laki-laki    Perempuan      Jumlah      Laki-laki    Perempuan      Jumlah      Laki-laki     Perempuan          Jumlah
                              Male        Female         Total        Male        Female         Total        Male          Female            Total
> 50 tahun
                                   753            219        972         1.067         378         1.445          964              296             1.260
> 50 years old
41-50 tahun
                                 2.894        1.191        4.085         3.047        1.399        4.446         2.831            1.302             4.133
41-50 years old
31-40 tahun
                                 4.371        1.543        5.914         4.652        1.764        6.416         4.550            1.817            6.367
31-40 years old
<30 tahun
                                 5.473        1.600        7.073         6.073        1.816        7.889         5.504            1.691             7.195
<30 years old
Jumlah
                                13.491        4.553       18.044        14.839        5.357       20.196        13.849           5.106            18.955
Total




Komposisi Pegawai Berdasarkan Status dan Gender
Employee Composition Based on Status and Gender

                                           2023                                    2022                                      2021
             Status         Laki-laki    Perempuan      Jumlah      Laki-laki    Perempuan      Jumlah      Laki-laki     Perempuan          Jumlah
                              Male        Female         Total        Male        Female         Total        Male          Female            Total
Pegawai tetap
                                  804             152        956          630             127        757          600               119               719
Permanent
PKWTT
                                 2.113        3.431        5.544         4.017        4.327        8.344         7.002            4.371            11.373
Fixed Term
Pekerja Bulanan
                                  604             229        833          693             242        935          595               124               719
Full-time
Pekerja Harian
                                 9.970            741      10.711        9.499         661        10.160         5.652              492             6.144
Part-time
Jumlah
                                13.491        4.553       18.044        14.839        5.357       20.196        13.849           5.106            18.955
Total




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       Komposisi Pegawai Berdasarkan Level Jabatan dan Gender
       Employee Composition Based on Position Level and Gender

                                                          2023                                             2022                                          2021
                Level Jabatan
                Position Level          Laki-laki       Perempuan          Jumlah        Laki-laki       Perempuan       Jumlah        Laki-laki       Perempuan       Jumlah
                                          Male           Female             Total          Male           Female          Total          Male           Female          Total
       Kepala Divisi
                                                19                 3              22               17               4             21           19                 4           23
       Division Head
       Kepala Departement
                                                26                  1             27               17                1           18            19                  1          20
       Department Head
       Section Head
                                                    8               1               9                -               -             -               -               -            -
       Section Head
       Manajer
                                                55                  1             56              63                2           65             65                 2           67
       Manager
       Asisten Manajer
                                                91                16             107              87               18           105           90                16           106
       Manager Assisstant
       Staf
                                              520                117             637             440              102           542          398                96           494
       Staff
       Non Staf
                                            12.772           4.414             17186           14.215         5.230        19.445          13.258           4.987          18.245
       Non Staff
       Jumlah
                                            13.491           4.553             18.044          14.839         5.357        20.196          13.849           5.106          18.955
       Total




       Komposisi Pegawai Berdasarkan Jenis Kelamin
       Employee Composition Based on Gender

                                                                        2023                                      2022                                     2021
                     Jenis Kelamin
                        Gender                          Jumlah                                       Jumlah                                  Jumlah
                                                                                  %                                         %                                          %
                                                         Total                                        Total                                   Total
       Laki-laki
                                                              13.491                     75%               14.839                  73%                 13.849                73%
       Male
       Perempuan
                                                                 4.553                   25%                5.357                  27%                  5.106                27%
       Female
       Jumlah
                                                             18.044                     100%               20.196                 100%                 18.955               100%
       Total




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                                                                                                                    PROFIL PERUSAHAAN
                                                                                                                                 COMPANY PROFILE   03

KEBIJAKAN DAN STRATEGI SUMBER DAYA MANUSIA
HUMAN RESOURCES POLICIES AND STRATEGIES

Salah satu nilai tambah Perseroan adalah kemampuannya            One of the values added of the Company is its ability to manage
dalam mengelola sumber daya manusia yang kompeten guna           competent human resources to support the achievement of the
mendukung pencapaian bisnis organisasi dengan menjaga aspek      organization business by maintaining optimal financial aspects.
finansial se-optimal mungkin. Oleh karena itu, Perseroan telah   Therefore, the Company has committed to put human resources
berkomitmen untuk menjadikan sumber daya manusia sebagai         as the Company’s asset and strategic partner which was expected
aset dan mitra strategis Perseroan yang diharapkan dapat         to be able to contribute to the achievement of organizational
berkontribusi terhadap pencapaian kinerja organisasi.            performance.


Komitmen ini tertuang dalam kebijakan pengelolaan Sumber         This commitment is reflected in The Company’s Human Resources
Daya Manusia (“SDM”) Perseroan yang mengatur berbagai aspek      (“HR”) Management Policies which regulates various aspects of
terkait manajemen SDM diantaranya:                               HR management, including:


1.   Perekrutan                                                  1.   Recruitment
     Perseroan memiliki kebijakan perekrutan tenaga kerja yang        The Company has employee recruitment policy which needed
     dibutuhkan oleh organisasi atau perusahaan, mulai dari           by organization or company, starting from recruitment,
     rekrutmen, seleksi, hingga penempatan.                           selection, until placement.


2. Pengembangan Sumber Daya Manusia                              2. Human Resource Development
   Kebijakan pengembangan SDM Perseroan dilakukan melalui           The policy of the Company’s HR development is carried out by
   program peningkatan dan pengembangan kemampuan                   the improvement and development of employee capabilities,
   tenaga kerja, di antaranya dengan melakukan pelatihan dan        including by conducting training and education.
   pendidikan.


3. Kompensasi dan Keuntungan                                     3. Compensation and Benefits
   Kebijakan remunerasi berupa kompensasi dan keuntungan            Remuneration Policy in the form of compensation and
   dilakukan dengan mengkaji dan melaksanakan sistem balas          benefits are implemented by reviewing and implementing a
   jasa terhadap tenaga kerja atas sumbangsih yang diberikan        remuneration system for employees for the contribution given
   kepada perusahaan.                                               to the company.


4. Pembinaan Sumber Daya Manusia                                 4. Human Resource Coaching
   Kebijakan ini mengatur dan memelihara tenaga kerja yang ada      This policy regulates and maintains the existing employees
   dengan memelihara motivasi mereka untuk memberikan yang          by maintaining their motivation to provide the best effort for
   terbaik bagi perusahaan. Perseroan melaksanakan kebijakan        the company. The activities include providing benefits and
   ini dengan berupa pemberian tunjangan dan jaminan sosial         social security for health, safety, and security, and employee
   terhadap kesehatan, keselamatan, dan keamanan, serta             assessment.
   penilaian karyawan.


5. Hubungan Tenaga Kerja                                         5. Employment Relationship
   Perseroan memiliki kebijakan untuk menciptakan dan               The Company has policy to create and maintain good relations
   memelihara hubungan yang baik antara tenaga kerja dengan         between employees and their colleagues, the employees with
   rekannya, dan tenaga kerja dengan perusahaan, serta              the company, as well as their relations with the community
   hubungan keduanya dengan masyarakat dan pemerintah,              and government, including creating company policies and
   diantaranya membuat kebijakan perusahaan dan perjanjian          collective labor agreements.
   kerja bersama.


6. Pemutusan Hubungan Kerja                                      6. Termination of Employment
   Kebijakan ini mengatur proses pemutusan hubungan kerja           This policy regulates the termination between the Company
   antara Perusahaan dengan pekerjanya sehingga kedua belah         and its employee so that both parties can fulfill their respective
   pihak dapat memenuhi kewajiban dan haknya masing-masing.         obligations and rights.




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      Strategi Pengelolaan SDM 2023                                         HR Management Strategy in 2023

      Perseroan menerapkan praktik ketenagakerjaan sesuai ketentuan         The Company implement employment practices in accordance
      peraturan yang berlaku untuk memastikan lingkungan kerja              with applicable regulations to ensure a decent and conducive
      yang layak dan kondusif, pengembangan potensi karyawan                work environment, optimally develop employee potential, ensure
      secara optimal, memastikan keselamatan dan kesehatan kerja            occupational health and safety and uphold diversity, human rights
      serta menjunjung tinggi keberagaman, hak asasi manusia dan            and equal opportunities for every employee. The comfort and
      kesempatan setara bagi setiap karyawan. Kenyamanan dan                safety of working for each Employee can be seen from the low
      keamanan bekerja karyawan dapat dilihat dari rendahnya angka          employee turnover rate, the high level of safe working hours, and
      perputaran pekerja, tingkat jam kerja aman yang tinggi, dan           the increased quality of workers according to the competency
      meningkatnya kualitas pekerja sesuai hasil penilaian kompetensi.      assessment results.


      Perusahaan memiliki kebijakan praktik pengelolaan SDM seperti
      yang tertuang dalam Peraturan Perusahaan No. KEP.64/DTT/HU-           The Company has an HR management practice policy outlined
      SYAKER/X/2021 yang ditetapkan pada tanggal 16 Oktober 2021            in company Regulation No. KEP.64/DTT/HU-SYAKER/X/2021,
      oleh Dinas Tenaga Kerja dan Transmigrasi Kalimantan Tengah.           approved by the Manpower and Transmigration Service in
      Kebijakan ini ditinjau secara rutin setiap 1 (satu) kali dalam tiga   Central Kalimantan on October 16, 2021. The Company regularly
      tahun untuk mengukur kesesuaian dan keefektifannya. Adapun            reviewed this policy every three years to assess its suitability and
      Ruang lingkup peraturan perusahaan mengatur terkait :                 effectiveness. The scope of company regulations governs:


      •    Hak dan kewajiban karyawan dan perusahaan                        •   Rights and obligations of employees and the Company
      •    Penerimaan, penempatan dan status karyawan                       •   Recruitment, placement and status of employees
      •    Peraturan dan tata tertib kerja                                  •   Work rules and regulations
      •    Disiplin kerja dan sanksi                                        •   Work discipline and sanctions
      •    Berakhirnya hubungan kerja                                       •   Termination of the employment relationship
      •    Cuti, ijin meninggalkan perusahaan dan hari libur                •   Leave, permission to leave the Company and holidays
      •    Sistem penggajian                                                •   Payroll system
      •    Jaminan sosial dan kesejahteraan                                 •   Social security and welfare
      •    Pelatihan dan pengembangan                                       •   Training and development
      •    Penyelesaian keluhan karyawan                                    •   Resolving employee complaints



      Kesetaraan Kesempatan Kerja                                           Equal Employment Opportunity

      SSMS senantiasa menerapkan prinsip kesetaraan dan keadilan            The Company always applies the principles of equality and
      dalam pengelolaan ketenagakerjaan, mulai dari proses rekrutmen        fairness in manpower management, starting from the recruitment
      hingga pengembangan karier, pemberian fasilitas, remunerasi           process to career development, providing facilities, remuneration
      dan hak-hak lainnya. Perseroan memberikan perlakuan dan               and other rights. The Company provides equal treatment and
      kesempatan yang sama kepada seluruh karyawan tanpa                    opportunity to all employees regardless of their background, age,
      membedakan latar belakang, usia, gender, suku, agama, afiliasi        gender, ethnicity, religion, political affiliation or other indicators of
      politik maupun indikator keberagaman lain. Begitu juga halnya         diversity. Similarly, with regard to remuneration policies and other
      terkait kebijakan remunerasi maupun manfaat kesejahteraan             welfare benefits, there is no difference in application between
      lainnya, tidak ada perbedaan pemberlakuan antara laki-laki            males and females.
      maupun perempuan.




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                                                                                                                     PROFIL PERUSAHAAN
                                                                                                                                  COMPANY PROFILE   03

PROGRAM PENGEMBANGAN SUMBER DAYA MANUSIA
PROGRAM OF HUMAN RESOURCES DEVELOPMENT




Perekrutan                                                          Recruitment

Kebijakan rekrutmen Perseroan didasarkan pada prinsip               Recruitment Policy of the Companys is based on principles of
kesetaraan, keterbukaan, kewajaran, kehati-hatian dan ketelitian.   equality, transparency, fairness, prudence, and thoroughness. This
Kebijakan ini dilaksanakan melalui program perekrutan yang          policy is implemented by recruitment programs which carried out
dilakukan melalui situs Perseroan, iklan, job fair, dan lainnya.    through Company’s website, advertisement, job fair, and others.


Pada pelaksanaannya, program rekrutmen Perseroan dilakukan          In practice, recruitment programs of the Company are conducted
melalui program management trainee dan program regular.             by management trainee program and regular program.
Program management trainee adalah program pelatihan                 Management trainee program is program aimed to obtaining
manajemen dengan tujuan mendapatkan kandidat yang punya             candidates who have qualities and potential to occupy managerial
kualitas serta potensi untuk menempati posisi manajerial.           positions. This program is aimed to fresh graduates. Meanwhile,
Program ini ditujukan untuk fresh graduate. Sedangkan program       regular program is recruitment aimed to all people and levels of
perekrutan regular adalah program rekrutmen yang ditujukan          education where the selection process is carried out based on the
oleh seluruh kalangan dan jenjang pendidikan yang proses            needs and the candidate’s competency.
seleksinya dilakukan berdasarkan kebutuhan dan kompetensi
yang dimiliki kandidat.


Di tahun 2023, Perseroan telah merekrut karyawan baru melalui       In 2023, the Company hired 250 new employee by regular
program regular sebanyak 250 karyawan yang terdiri dari 168 laki-   program, including 168 male and 82 female. While the recruitment
laki dan 82 perempuan. Sedangkan perekrutan melalui program         by management trainee program is 82, consisting of 78 male and
management trainee sebanyak 82 yang terdiri dari 78 laki-laki dan   4 female.
4 perempuan.



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       Tabel Perekrutan Karyawan
       Table of Employee Recruitment

                                          Uraian
                                                                                   2023                                 2022
                                        Description
       Perekrutan Program Reguler
       Recruitment by Reguler Program
       Jumlah yang direkrut
                                                                                    200                                  130
       Number of hired
       Jumlah diterima
                                                                                    168                                  99
       Number of received
       Jumlah
                                                                                    168                                  99
       Total


       Perekrutan Program Management Traini
       Recruitment by Management Trainee Program
       Jumlah yang direkrut
                                                                                     82                                  75
       Number of hired
       Jumlah yang aktif
                                                                                     82                                  75
       Number of Active
       Jumlah
                                                                                     82                                  75
       Total




      Pengembangan Kompetensi                                             Competency Development

      Kebijakan pengembangan kompetensi sumber daya manusia               The Company has HR competency development which adheres
      Perseroan menganut asas kesetaraan dan kesempatan yang              to the principles of equality and equal opportunities to all
      sama kepada seluruh karyawan untuk mendapatkan program              employees to obtain competency and capability development
      pengembangan kompetensi dan kapabilitas melalui serangkaian         programs through various of education and training as well as
      pendidikan dan pelatihan serta penilaian karyawan.                  employee assessment.


      Komitmen Perseroan untuk mengembangkan potensi karyawan             The Company is committed to consistently and continuously
      secara konsisten dan berkesinambungan dilakukan melalui proses      developing employee potential through a learning process,
      pembelajaran seperti pendidikan, pelatihan dan workshop baik        including education, training and workshops internally and/or in
      dilakukan secara internal maupun bekerja sama dengan lembaga        collaboration with externall institutions which was prepared based
      eksternal yang disusun berdasarkan kebutuhan pengembangan           on individual development needs to support their successful
      individu untuk menunjang keberhasilan kinerja dan karir, serta      performance and career, as well as aligned with the company
      diselaraskan dengan kebutuhan Perseroan dan mengacu pada            needs and refers to the business strategy implemented by the
      strategi bisnis yang diterapkan Perseroan.                          company.


      Program pengembangan yang dilakukan di antaranya                    Development programs include technical development (hard
      pengembangan teknis (hard skill) yang terkait dengan keterampilan   skills) related to work skills and competencies in Company’s
      dan kompetensi kerja di bidang bisnis Perseroan, maupun non-        business sector, as well as non-technical (soft skills), namely the
      teknis (soft skill) yaitu pengembangan potensi personal secara      development of individual personal potential. This development
      individu. Diharapkan dengan program pengembangan ini, setiap        programs was expected to have adequate skills and be motivated
      karyawan dapat memiliki keterampilan memadai dan termotivasi        to improve their performance so that they were able to increase
      meningkatkan kinerjanya sehingga mampu meningkatkan                 the business growth and development of the Company.
      pertumbuhan dan perkembangan bisnis Perseroan.


      Di tahun 2023, Perseroan telah mengikutsertakan 3.896 karyawan      In 2023, the Company has enrolled 3,896 employees in several
      dalam sejumlah program pendidikan, pelatihan dan workshop,          programs including education, training, and workshop, both
      baik yang diselenggarakan secara internal maupun eksternal dan      internally and externally. This program was followed by all
      diikuti oleh seluruh karyawan mulai dari non staff hingga manajer   employees from non-staff to Executive Manager. The types of
      eksekutif. Adapun jenis pelatihan yang diselenggarakan di tahun     training held in 2023 are as follows:
      2023 adalah sebagai berikut:




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                                                                                                                               PROFIL PERUSAHAAN
                                                                                                                                          COMPANY PROFILE   03

Pelatihan berdasarkan Jenis Pelatihan
Training by Types

                       Program Pelatihan                      Jumlah Peserta
 No                                                                                                                    Batch
                        Training Program                    Number of Participants
  1   Management Trainee                                                 121                                              2
  2   Cadet Staff                                                        40                                                1
  3   Mandor Mandiri                                                     14                                                1
  4   Basic Mechanic                                                      9                                                1
  5   Program Training Softskill                                         374                                              8
  6   Program Refresh Training                                          3,144                                            180
  7   Sertifikasi Profesi | Professional Certification                   194                                              19
      Total                                                             3,896                                            212



Pelatihan Berdasarkan Level Jabatan
Training by Position Level

                                         Jabatan                                                 Jumlah Pelatihan
 No
                                         Position                                                Number of Training
  1   Division Head                                                                                      21
  2   Department Head                                                                                    63
  3   Manager                                                                                           267
  4   Asisten Manager                                                                                   164
  5   Staff                                                                                            1,091
  6   Non Staff                                                                                        2,290
      Total                                                                                            3,896



Investasi Pengembangan Kompetensi Karyawan                             Assessment of Employee Performance

Di tahun 2023, jumlah investasi untuk program pendidikan,              In 2023, total investment for competency development programs
pelatihan dan pengembangan kompetensi lainnya yang ditujukan           of education, training and others which was intended to the
untuk karyawan Perseroan adalah sebesar Rp6.451.148.418,               Company’s employee reached IDR6,451,148,418, increased 9.12%
meningkat 9,12% dibandingkan jumlah investasi tahun lalu.              compared to total investment in the previous year. This amount
Jumlah tersebut menyerap 60,77% dari rencana anggaran di awal          absorbs 60.77% of the budgeted plan at the beginning of the year
tahun yang sebesar Rp10.615.243.862.                                   amounting to IDR10,615,243,862.


                                                                         Batch                                        Biaya
                          Program Pelatihan                                                                            Fee
 No
                           Training Program              Rencana        Realisasi                  Rencana          Realisasi
                                                                                      Var (%)                                              Var (%)
                                                           Plan        Realization                   Plan          Realization
  A   PROGRAM REGULER
      Refresh Training Staf                                     60               54     90,00%     146.385.000          33.800.442            23,09%
      Refresh Training Non Staf                                 88              126    143,18%      197.509.000         68.424.775            34,64%


  B   PROGRAM PENJENJANGAN
      Program Kepemimpinan Perkebunan Pratama (PKPP
                                                                   2              2    100,00%    6.882.663.119    5.391.005.276              78,33%

      Program Cadet Staf
                                                                   1              1    100,00%       74.445.600          21.271.097           28,57%

      Program Mandor Mandiri (PMM)
                                                                   2              1     50,00%      940.301.171       222.891.050             23,70%

      Program Basic Mechanic
                                                                   2              1     50,00%      940.301.171       180.388.428              19,18%



  C   PROGRAM SERTIFIKASI                                        21              19     90,48%     611.888.800          34.438.748              5,63%
      Profesi


  D   PROGRAM SOFTSKILL                                            9             8      88,89%     821.750.000        498.928.602             60,72%


      Jumlah| Total                                             185             212       115%   10.615.243.862    6.451.148.418              60,77%



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      Rencana Pengembangan Kompetensi di Tahun 2024                        Competency Development Plan in 2023

      Pada tahun 2023, Perseroan akan melaksanakan program-                In 2023, Company will implement activity programs that can
      program kegiatan yang dapat menunjang dan meningkatkan               support and improve Company’s human resources so that
      SDM Perseroan sehingga di dapat tenaga yang berkompeten, di          competent personnel are obtained, including:
      antaranya:
      1. Program Sertifikasi Mandor dan Krani yaitu program pelatihan      1.   Certification Program for Foremen and Officers, a training and
          dan sertifikasi untuk setingkat mandor dan krani yang                 certification program for foremen and officers to upgrade the
          bertujuan meningkatkan pengetahuan, keterampilan dan                  knowledge, skills and behavior needed to develop duties and
          perilaku yang dibutuhkan dalam mengembangkan tugas dan                responsibilities in the position of foreman.
          tanggung jawab dalam jabatan mandor.
      2 Program Liga Mandor adalah program kompetensi untuk                2.   Foreman’s League Program is a competency program for
          para mandor dalam meningkatkan produktivitas di unit kerja            foremen to increase productivity in their respective work
          masing-masing dan sharing moment antar sesama mandor                  units and sharing moments between fellow foremen and is
          dan berkomitmen perbaikan kinerja masing-masing mandor.               committed to improving the performance of each foreman.
      3 Program Pemanen Mandiri adalah program bagi pemanen                3.   Independent Harvester Program is a program for new
          baru untuk diberikan materi cara-cara pamen yang benar,               harvesters where they will be given materials on proper
          sehingga diharapkan para pemanen mampu memanen sesuai                 harvesting methods, so that harvesters are expected to
          dengan standar dan ketentuan yang diharapkan perusahaan.              be able to harvest in accordance with the standards and
                                                                                conditions expected by the company.
      4    Program coaching and conseling untuk seluruh jabatan asisten    4.   Coaching and counseling programs for all assistant up
           up untuk dapat meningkatkan kemampuan leader dalam                   positions that aim to improve the ability of leaders to awaken
           membangkitkan potensi bawahan.                                       the potential of subordinates.
      5    Program transformasi digital database pelatihan dan             5.   Program for digital transformation of training databases and
           assesment teknikal yang berguna untuk memudahkan                     technical assessments that are useful for facilitating the
           penyimpanan dan evaluasi historis training setiap karyawan           historical storage and evaluation of each employee’s training
           dan pelaksanaan penilaian teknis karyawan sehingga                   and implementation of employee technical assessments so
           penyusunan program pelatihan dapat disusun dengan baik               that the preparation of training programs can be properly
           dan tepat sasaran.                                                   structured and on target.



      Penilaian Kinerja Karyawan                                           Assessment of Employee Performance

      Salah satu pengembangan karir yang dilakukan Perseroan adalah        One of career development which was carried out by the Company
      dengan melakukan evaluasi dan penilaian kinerja karyawan.            is by applying evaluation and assessment of the employee
      Evaluasi dan penilaian kinerja karyawan dilakukan berdasarkan        performance. The evaluation and assessment of the employee
      capaian Key Performance Indicator (“KPI”) yang telah ditetapkan      performance conducted by achievement of Key Performance
      di awal tahun sehingga produktivitas dan kontribusi individu         Indicator (“KPI”) which was determined in the beginning of the year.
      karyawan terhadap pencapaian kinerja Perusahaan secara               Thus, the productivity and contribution of individual employees to
      keseluruhan dapat terukur dengan baik.                               the overall achievement of the company’s performance can be
                                                                           well measured.


      Di tahun 2023, penilaian kinerja karyawan dilakukan terhadap         In 2023, assessment of the employee performance was conducted
      2.374 karyawan yang terdiri dari 1.365 karyawan non staf dan 1.009   to 2,374 employees consists of 1,365 non-staff employees and
      karyawan staf, di mana 129 atau 5,43% karyawan mendapatkan           1,009 staff employees, where 129 or 5.43% employees have
      promosi, 334 atau 14,07% karyawan mendapatkan rotasi, dan 1          promotion, 334 or 14.07% employees have rotation, and 1 or 0.04%
      atau 0,04% karyawan mendapatkan demosi.                              employee have demotions.



      Remunerasi dan Kesejahteraan Karyawan                                Employee Remuneration and Welfare

      Kebijakan remunerasi dan kesejahteraan karyawan didasarkan           Employee remuneration and welfare policies are based on the
      pada Undang-Undang Ketenagakerjaan yang berlaku dengan               applicable Employment Law by considering the Company’s
      memperhatikan kemampuan Perseroan. Namun pada dasarnya,              capabilities. However, basically, the Company provides
      sistem remunerasi karyawan Perseroan diberikan secara                competitively employee remuneration systems according to
      kompetitif sesuai dengan level jabatan karyawan. Untuk karyawan      position level of employee. For employee in entry level, the
      tingkat terendah atau entry level, rasio remunerasi yang diberikan   remuneration ratio was provided by the Company is equal with the
      adalah setara dengan tingkat UMR yang ditetapkan. Tidak ada          government’s UMR rates. There is no difference in remuneration
      perbedaan remunerasi antara karyawan laki-laki dan perempuan.        between male and female employees. Remuneration is provided
      Pemberian remunerasi diberikan berdasarkan penilaian kinerja         under the assessment of employee performance.
      karyawan.

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KEBIJAKAN KESEHATAN DAN KESELAMATAN KERJA
OCCUPATIONAL HEALTH AND SAFETY POLICIES
Perseroan memandang Sumber Daya Manusia (“SDM”) sebagai                  For the Company, Human Resources (“HR”) are the most valuable
aset utama yang harus dikelola dan dikembangkan secara                   asset that must be managed and developed effectively to boost
bijaksana agar dapat meningkatkan produktivas dan kualitas               employee productivity and performance quality. Therefore, the
kinerja pegawai. Oleh karena itu, Perusahaan memiliki tanggung           Company is responsible for adequately managing employees by
jawab untuk mengelola pegawai dengan menciptakan lingkungan              creating a healthy and safe work environment, and providing job
kerja yang sehat dan aman, serta memberikan perlindungan kerja.          protection.


Komitmen Perusahaan untuk memberikan jaminan K3 kepada                   The Company's commitment will guarantee the Health, Safety,
pegawai sesuai dengan Undang-Undang No. 1 tahun 1970                     and Welfare of employees following Law No. 1 of 1970 concerning
tentang Keselamatan dan Kesehatan Kerja, Undang-undang                   Occupational Safety and Health, Law No. 23 of 1992 concerning
nomor 23 tahun 1992 tentang Kesehatan, Undang-Undang Nomor               Health, Law No. 36 of 2009 concerning Health, Law No. 13 of
36 Tahun 2009 tentang Kesehatan, Undang-Undang No. 13 tahun              2003 concerning Manpower, Presidential Decree No. 22 of 1993
2003 tentang Ketenagakerjaan, Keputusan Presiden Nomor 22                concerning Diseases Arising from Work Relations, Government
Tahun 1993 tentang Penyakit yang Timbul Akibat Hubungan Kerja,           Regulation No. 50 of 2012 concerning Implementation of OHS
Peraturan Pemerintah No.50 Tahun 2012 tentang Penerapan                  Management Systems, Minister of Manpower RI Number PER.02/
Sistem Manajemen K3, Permenaker RI Nomor PER.02/MEN/1992                 MEN/1992 concerning Procedures for Appointing Obligations
tentang Tata Cara Penunjukan Kewajiban dan Wewenang Ahli K3              and Authorities OHS Expert and Regulation of the Minister of
dan Peraturan Menteri Tenaga Kerja No. 5 tahun 1996 tentang              Manpower No. 5 of 1996 concerning the Occupational Safety and
Sistem Manajemen Keselamatan dan Kesehatan Kerja (SMK3).                 Health Management System (SMK3).


Perusahaan memiliki kebijakan internal yang menjadi panduan              The Company has an internal policy that governs the
implementasi K3 di lingkungan perusahaan. Kebijakan internal             implementation of OHS. OHS policy and its management system
K3 beserta sistem manajemennya merupakan bagian terintegrasi             are integrated into the Integrated QHSE concept through
dari konsep QHSE Terpadu melalui tata nilai perusahaan (Care             corporate values (Care for the Company, Care for the People,
for the Company, Care for the People, Care for the Environment).         Care for the Environment). The Company also has adopted an
Perusahaan juga telah mengadopsi standar internasional, yaitu            international standard, namely ISO 45001:2018, regarding OHS
ISO 45001:2018 tentang Sistem Manajemen K3.                              Management.


Penerapan K3 di lingkup Perusahaan dilakukan dengan                      The Company implements OHS by implementing QHSE Policy
menerapkan QHSE Policy (Kebijakan Mutu, Lingkungan, Kesehatan            (Quality, Environment, Health and Safety) in all lines since 2017.
dan Keselamatan Kerja) di semua lini yang sudah dlakukan sejak           The Implementation of QHSE Policy measures are as follows:
tahun 2017. Langkah-langkah implementasi QHSE Policy adalah
sebagai berikut :
1. Perlindungan lingkungan dan pencegahan polusi udara, tanah            1.   Environmental protection and prevention of air, soil and water
   dan air                                                                    pollution
2. Meningkatkan kinerja mutu, lingkungan serta keselamatan               2.   Improving quality performance, environment and Occupational
   dan kesehatan kerja                                                        Safety and Health
3. Menerapkan konsep produksi bersih dalam setiap proses dan             3.   Applying the concept of clean production in every process
   unit pendukung                                                             and supporting unit
4. Memaksimalkan produksi dan mengoptimalkan biaya produksi              4.   Maximizing production and production costs
5. Pengembangan sumber daya manusia yang ditujukan untuk                 5.   Developing human resources aimed at forming competency-
   membentuk tenaga profesional berbasis kompetensi dan                       based professionals with high integrity
   memiliki integritas yang tinggi
6. Menyempurnakan kriteria kinerja yang terkait pada bisnis              6. Improving performance criteria related to business and
   dan operasi serta menerapkan karya-karya inovatif terkait                operations and implementing innovative works associated
   peningkatan mutu, lingkungan dan K3 sesuai persyaratan                   with improving quality, environment and OHS following the
   dari pihak yang berkepentingan, serta persyaratan berstandar             requirements of related parties and management standards
   manajemen ISO 9001, ISO 14001, dan ISO 45001                             of ISO 9001, 14001, and OHSAS 18001
7. Penyadartahuan terhadap pegawai, masyarakat, dan pihak                7. Awareness among the employees, communities, and interested
   berkepentingan sehingga tercipta lingkungan kerja yang bersih,           parties to create a clean, safe, healthy work environment and
   aman, sehat dan bebas dari kecelakaan dan penyakit akibat kerja.         free from accidents and occupational diseases


Dengan sistem kebijakan tersebut, Perusahaan melakukan                   The Company uses this policy system to identify hazards in each
identifikasi bahaya terhadap setiap proses pekerjaan, aktivitas kerja,   work process, activity, product, or service. The QHSE coordinator,
produk, maupun jasa yang ada di dalam lingkungan Perusahaan.             operators, and associated area supervisors collaborate on this
Proses identifikasi ini dilakukan secara bersama-sama antara             identification process.
koordinator QHSE, operator dan supervisor area terkait.



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       INFORMASI PEMEGANG SAHAM
       INFORMATION OF SHAREHOLDERS




       Komposisi Pemegang Saham per 31 Desember 2023                                                      Composition of Shareholders as of December 31, 2023




               Monica Putri               Ernis Desidistrisna                                                                                      Jemmy Adriyanor             Jery Borneo Putra



                                                                  10%                                                                60%

                                                 10%                                                                                                    40%


                              90%                                        PT Prima Sawit Borneo            PT Mandiri Indah Lestari                                          40%




                                                                                48,77%           0,01%           48,76%

                              90%        PT Agro Citra Mandiri                                                                               PT Putra Borneo Agro Lestari   60%




                                                                        1,23%                                              1,22%




                                                                                         PT Citra Borneo Indah
                                                                                                                                                                            0,01%



                                                                                                 61,24%




               Masyarakat                                29,15%                                                                            9,61%
                 Public




       Per 31 Desember 2023, total jumlah saham yang ditempatkan                                          As of December 31, 2023, the total number of issued and paid-up
       dan disetor penuh yaitu 9.525.000.000 lembar saham. Pemegang                                       shares is 9,525,000,000 shares. The majority shareholders of the
       saham mayoritas Perseroan adalah PT Citra Borneo Indah 61,24%                                      Company are PT Citra Borneo Indah 61.24% and PT Putra Borneo
       dan PT Putra Borneo Agro Lestari 9,61%. Adapun pemegang                                            Agro Lestari 9,61%. Meanwhile, public shareholders own 29,15% of
       saham masyarakat berjumlah 29,15% dari total jumlah saham                                          the total number of issued and paid-up shares.
       ditempatkan dan disetor penuh.



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Kepemilikan Saham Perseroan
The Company’s Share Ownership

                                                               1 Januari 2023                                       31 Desember 2023
                                                               January 1, 2023                                      December 31, 2023
         Nama Pemegang Saham
           Shareholder Name                                                Persentase Kepemilikan                               Persentase Kepemilikan
                                           Jumlah Saham (lembar)                                    Jumlah Saham (lembar)
                                                                            Ownership Percentage                                 Ownership Percentage
                                           Number of Shares (share)                                 Number of Shares (share)
                                                                                     (%)                                                  (%)
Komposisi Pemegang Saham lebih dari 5%
Composition of Shareholders above 5%
PT Citra Borneo Indah                           5.171.589.400                      54,30                  5.833.317.100                     61,24
PT Putra Borneo Agro Lestari                     939.428.413                        9,86                   915.499.308                       9,16
Komposisi Pemegang Saham Kurang dari 5%
Composition of Shareholders below 5%
Masyarakat (masing-masing di bawah 5%)
                                                 3.413.982.187                     35,84                  2.776.183.592                     29,15
Public (each below 5%)
Jumlah
                                                9.525.000.000                     100,00                  9.525.000.000                    100,00
Total



Komposisi Pemegang Saham oleh Dewan Komisaris dan Direksi
Composition of Shareholders by Board of Commissioners and Board of Directors

                                                 Per 1 Januari 2023                                            Per 31 Desember 2023
                                                As of January 1, 2023                                         As of December 31, 2023
                                                                   Kepemilikan Tidak                                             Kepemilikan Tidak
                               Kepemilikan Langsung                                            Kepemilikan Langsung
                                                                        Langsung                                                      Langsung
                                 Direct Ownership                                                Direct Ownership
                                                                   Indirect Ownership                                            Indirect Ownership
     Nama dan Jabatan
     Name and Position          Jumlah                            Jumlah                       Jumlah                           Jumlah
                                            Persentase                         Persentase                   Persentase                         Persentase
                                Saham                             Saham                        Saham                            Saham
                                            Kepemilikan                        Kepemilikan                  Kepemilikan                        Kepemilikan
                               (lembar)                          (lembar)                     (lembar)                         (lembar)
                                            Percentage                         Percentage                   Percentage                         Percentage
                               Number                            Number                       Number                           Number
                                             Ownership                          Ownership                    Ownership                          Ownership
                               of Shares                         of Shares                    of Shares                        of Shares
                                                (%)                                (%)                          (%)                                (%)
                                (Sheet)                           (Sheet)                      (Sheet)                          (Sheet)
Dewan Komisaris
Board of Commissioners
Bungaran Saragih
                                 Nihil          Nihil              Nihil           Nihil        Nihil           Nihil            Nihil               Nihil
Komisaris Utama
                                  Nil            Nil                Nil             Nil          Nil             Nil              Nil                 Nil
President Commissioner
Hoesen
                                 Nihil          Nihil              Nihil           Nihil        Nihil           Nihil            Nihil               Nihil
Komisaris Independen
                                  Nil            Nil                Nil             Nil          Nil             Nil              Nil                 Nil
Independent Commissioner
Rimbun Situmorang
                                 Nihil          Nihil              Nihil           Nihil        Nihil           Nihil            Nihil               Nihil
Komisaris
                                  Nil            Nil                Nil             Nil          Nil             Nil              Nil                 Nil
Commissioner


Direksi | Board of Directors
Nasarudin bin Nasir
                                                                   Nihil           Nihil        Nihil           Nihil            Nihil               Nihil
Direktur Utama                 150.000         0,0016
                                                                    Nil             Nil          Nil             Nil              Nil                 Nil
President Director
M. Syafril Harahap
                                 Nihil          Nihil              Nihil           Nihil        Nihil           Nihil            Nihil               Nihil
Direktur
                                  Nil            Nil                Nil             Nil          Nil             Nil              Nil                 Nil
Director
Jap Hartono
                                 Nihil          Nihil              Nihil           Nihil        Nihil           Nihil            Nihil               Nihil
Direktur
                                  Nil            Nil                Nil             Nil          Nil             Nil              Nil                 Nil
Director
Jumlah                           Nihil          Nihil              Nihil           Nihil        Nihil           Nihil            Nihil               Nihil
Total                             Nil            Nil                Nil             Nil          Nil             Nil              Nil                 Nil



Hingga akhir tahun 2023, seluruh anggota Dewan Komisaris                         By the end of 2023, all members of the Company’s Board of
dan/atau anggota Direksi Perseroan tidak memiliki kepemilikan                    Commissioners and/or Board of Directors did not have indirect
baik langsung maupun tidak langsung atas saham Emiten atau                       ownership to shares of Issuers or Public Companies. Direct share
Perusahaan Publik. Kepemilikan saham langsung oleh anggota                       ownership by members of Board of Commissioners and/or Board
Dewan Komisaris dan/atau anggota Direksi telah diungkapkan                       of Directors has been disclosed in the table above.
pada tabel di atas.




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        Komposisi Pemegang Saham Berdasarkan Kepemilikan Lokal dan Asing
        Composition of Shareholders Based on Local and Foreign Ownership

                                                    Jumlah Pemegang                           Jumlah Saham          Persentase           Jumlah Modal
                     Status Pemegang Saham               Saham         Persentase (%)           (lembar)          Kepemilikan (%)         Disetor (Rp)
                        Shareholder Status             Number of       Percentage (%)        Number of Shares       Ownership             Total Paid-in
                                                      Shareholders                               (share)          Percentage (%)          Capital (Rp)
        Kepemilikan Lokal
        Local Ownership
        Individual
                                                               3.655               95,71%           82.415.600               0,87%           8.241.560.00
        Individual


        Institusi
        Institution
        Perseroan Terbatas
                                                                 31                 0,81%         7.723.602.816             81,09%        772.360.281.600
        Limited Liability Company
        Bank                                                       1               0,03%            63.694.270               0,67%          6.369.427.000
        Asuransi
                                                                  5                 0,13%              829.532               0,01%              82.953.200
        Insurance
        Reksadana
                                                                 21                 0,55%            67.174.211              0,71%           6.717.421.100
        Mutual Fund
        Sub Total                                              3.713               97,23%         7.937.716.431             83,35%        793.771.643.100


        Kepemilikan Asing
        Foreign Ownership
        Individu
                                                                 10                 0,26%              607.600               0,01%            60.760.000
        Individual
        Institusi
                                                                 96                 2,51%         1.586.675.969             16,65%        158.667.596.900
        Institution
        Sub Total                                               106                 2,77%         1.587.283.569             16,66%        158.728.356.900
        Total                                                 3.819                100,00        9.525.000.000              100,00       952.500.000.000




        10 Pemegang Saham Terbesar
        10 Largets Shareholders Composition

                                   Pemegang Saham                Jumlah Saham               Kepemilikan (%)
          No                                                                                                                    Status
                                     Shareholders               Number of Shares             Ownership (%)
                                                                                                                              Pengendali
           1    PT Citra Borneo Indah                                  5.833.317.100                    61,24%
                                                                                                                              Controlling
                                                                                                                   Pemegang Saham Non Pengendali
           2    PT Putra Borneo Agro Lestari                            915.499.308                      9,61%
                                                                                                                     Non-Controlling Shareholder
                Masyarakat di bawah 5%
           3                                                           2.776.183.592                    29,15%                       -
                Public below 5%
                                                                                                                          Badan Usaha Asing
           4    CGS-CIMB SECURITIES (SINGAPORE) PTE LTD                  85.787.000                   0.9006%
                                                                                                                          Foreign Corporation
                                                                                                                          Badan Usaha Asing
           5    CITIBANK NEW YORK S/A EMERGING MARKETS C                 30.728.100                    0.3226%
                                                                                                                          Foreign Corporation
                                                                                                                              Reksadana
          6     REKSA DANA SUCORINVEST PREMIUM FUND                      22.543.900                    0.2367%
                                                                                                                             Mutual funds
                                                                                                                          Badan Usaha Asing
           7    JPMCB NA RE - BLACKROCK INST TR CO N A I                 20.033.500                    0.2103%
                                                                                                                          Foreign Corporation
                                                                                                                              Reksadana
          8     REKSA DANA TREASURE SAHAM MANTAP                         14.755.400                    0.1549%
                                                                                                                             Mutual funds
                                                                                                                          Badan Usaha Asing
          9     HSBC BANK PLC S/A ABU DHABI INVESTMENT A                  13.653.671                   0.1433%
                                                                                                                          Foreign Corporation
                                                                                                                          Badan Usaha Asing
          10    BARCLAYS CAPITAL SECURITIES LIMITED SBL                  11.235.300                    0.1179%
                                                                                                                          Foreign Corporation




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                                                                                                                               PROFIL PERUSAHAAN
                                                                                                                                            COMPANY PROFILE   03

INFORMASI PEMEGANG SAHAM UTAMA DAN/ATAU PENGENDALI
INFORMATION OF MAJOR AND/OR CONTROLLING SHAREHOLDERS

Pemegang Saham Utama adalah pemegang saham yang memiliki                     Major Shareholder is a shareholder who owns 20% or more of the
20% atau lebih saham dari seluruh saham yang telah dikeluarkan               total shares issued by the Company. Based on a report from the
oleh Perseroan. Berdasarkan laporan dari Badan Administrasi                  Company’s Share Registrar, namely PT Datindo Entrycom, the
Efek Perseroan yaitu PT Datindo Entrycom, pemegang saham                     Company’s shareholders who own 20% or more shares are as
Perseroan yang memiliki 20% atau lebih digambarkan dalam tabel               follows:
berikut:


Komposisi Pemegang Saham per tanggal 31 Desember 2023
Composition of Shareholders as of December 31, 2023

                     Keterangan                      Jumlah Saham (lembar)                Jumlah Nilai Nominal (Rp)             Persentase (%)
                     Description                     Number of Shares (sheet)           Number of Nominal Value (IDR)           Percentage (%)
Modal Dasar
                                                                   32.100.000.000                       3.210.000.000.000
Authorized Capital

Modal Ditempatkan dan Disetor Penuh
Issued and Fully Paid-up Capital

    PT Citra Borneo Indah                                               5.833.317.100                     583.331.710.000             61,24
    PT Putra Borneo Agro Lestari                                         915.499.308                       91.549.930.800              9,61
    Masyarakat (di bawah 5%)
                                                                       2.776.183.592                      277.618.359,200             29,15
    Public (below 5%)
Jumlah Modal Ditempatkan dan Disetor Penuh
                                                                       9.525.000.000                     952.500.000.000
Number of Issued and Fully Paid-up Capital


Dengan demikian, pemegang saham utama dan pengendali                         Thus, the majority and controlling shareholder of the Company is:
Perseroan adalah: PT Citra Borneo Indah (kepemilikan saham                   PT Citra Borneo (61.24% share ownership), a company incorporated
61,242%), suatu perusahaan yang didirikan oleh Haji Abdul Rasyid AS.         by Haji Abdul Rasyid AS.

Pemegang Saham Pengendali Hingga Pemilik Akhir                               Controlling Shareholder Until Ultimate Beneficial
                                                                             Owner
PT Citra Borneo Indah menjadi pemegang saham pengendali                      PT Citra Borneo Indah officially became the controlling shareholder
Perseroan setelah melakukan transaksi pengalihan saham                       of the Company after completing the transaction of acquisition
Perseroan sebanyak 2.600.000.000 (dua miliar enam ratus juta)                of 2,600,000,000 (two billion six hundred million) shares of the
lembar saham dari PT Mandiri Indah Lestari sebesar 1.300.000.000             Company from PT Mandiri Indah Lestari (MIL) of 1,300,000,000
(satu miliar tiga ratus juta) atau senilai Rp1.937.000.000 dan PT            (one billion three hundred million) shares or equivalent with
Prima Sawit Borneo sebanyak 1.300.000.000 (satu miliar tiga ratus            Rp1,937,000,000 and PT Prima Sawit Borneo (PSB) of 1,300,000,000
juta) atau senilai Rp1.937.000.000 pada tahun 2017. Pengukuhan               (one billion three hundred million) of all shares or equivalent with
CBI sebagai pemegang saham pengendali Perseroan ditetapkan                   Rp1,937,000,000. The CBI’s position as the controlling shareholder
melalui Akta No. 18 tanggal 16 Oktober 2017 yang disahkan di                 of the Company was determined through Deed No. 18 dated
hadapan Notaris Citra Buana Tungga, S.H., M.Kn, dan telah disetujui          October 16, 2017 which was signed before Notary Citra Buana
oleh Kementerian Hukum dan Hak Asasi Manusia melalui Surat                   Tungga, S.H., M.Kn, and approved by the Ministry of Justice and
Keputusan No. AHU-0021410. AH.01.02 Tahun 2017 tanggal 16                    Human Rights through Decree No. AHU-0021410. AH.01.02 of 2017
Oktober 2017. Keputusan itu berlaku efektif tanggal 30 September             dated October 16, 2017. The decision was made effective as of
2018.                                                                        September 30, 2018.


PT Citra Borneo Indah sendiri didirikan oleh Haji Abdul Rasyid AS            PT Citra Borneo Indah was founded by Haji Abdul Rasyid AS who is
yang menjadi pemilik manfaat akhir dari SSMS.                                the ultimate beneficial owner of SSMS.


Profil PT Citra Borneo Indah (CBI)                                           Profil PT Citra Borneo Indah (CBI)

PT Citra Borneo Indah (CBI) didirikan pada tanggal 6 Mei 1999                PT Citra Borneo Indah (CBI) was established on May 6, 1999, based
berdasarkan Akta No. 5 Tanggal 6 Mei 1999 dan telah mendapat                 on Deed No. 5, dated May 6, 1999, has received approval from
pengesahan dari Direktorat Jenderal Hukum dan Perundang-                     the Directorate General of Law and Legislation of the Ministry
Undangan Departemen Kehakiman Republik Indonesia melalui                     of Justice of the Republic of Indonesia through the Decree of
Surat Keputusan Menteri Kehakiman Republik Indonesia No.C-                   the Minister of Justice of the Republic of Indonesia No.C-1549.17.
1549.17.HT.01.01.TH.99 tanggal 19 Agustus 1999. Kepemilikan                  HT.01.01.TH.99 dated August 19, 1999. CBI’s share ownership is
Saham CBI, yaitu PT Prima Sawit Borneo sebesar 48,77%, PT                    PT Prima Sawit Borneo 48.77%, PT Mandiri Indah Lestari 48.76%,



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       Mandiri Indah Lestari 48,76%, PT Agro Citra Mandiri sebesar 1,23%,           PT Agro Citra Mandiri 1.23%, PT Putra Borneo Agro Lestari 1.22%,
       PT Putra Borneo Agro Lestari sebesar 1,22%, Jemmy Adriyanor                  Jemmy Adryanor 0.01%, and Jery Borneo Putra 0.01%.
       sebesar 0,01%, dan Jery Borneo Putra sebesar 0,01%.


       CBI bertransformasi menjadi sebuah grup perusahaan yang                      CBI has become a large group of companies, which has a strong
       besar, yang memiliki jaringan usaha yang kuat dan berkembang                 and growing business network in various industrial sectors by
       di berbagai sektor industri dengan menerapkan model bisnis                   applying a synergy-based and diversified business model in five
       berbasis sinergi dan terdiversifikasi pada lima segmen usaha,                business segments, consisting of:
       terdiri dari:


       1.   Perkebunan Kelapa Sawit                                                 1.   Oil Palm Plantations
       2.   Hilirisasi Industri Kelapa Sawit                                        2.   Downstream Palm Oil Industry
       3.   Kawasan Industri dan Pembangkit Tenaga Listrik                          3.   Industrial Estate and Power Plant
       4.   Angkutan Laut                                                           4.   Navy
       5.   Peternakan                                                              5.   Farm


       Kelima segmen usaha tersebut dikelola oleh entitas anak usaha.               The five business segments are managed by subsidiaries.
       Melalui diversikasi usaha tersebut, CBI berupaya memberikan                  Through this business diversification, CBI Group strives to have a
       dampak positif yang besar terhadap perekonomian nasional,                    major positive impact on the national economy, especially in the
       khususnya di daerah Kalimantan Tengah, salah satunya dengan                  Central Kalimantan region, one of which is by creating jobs. Along
       menciptakan lapangan pekerjaan. Seiring dengan meluasnya                     with the expansion of its business network, CBI is committed to
       jaringan bisnis yang dimiliki, CBI berkomitmen menerapkan                    implementing sustainable business principles, which play an
       prinsip bisnis berkelanjutan, yang berperan penting terhadap                 important role in the welfare of society and the environment.
       kesejahteraan masyarakat dan lingkungan.



                                                                  Kepemilikan Saham CBI
                                                                   CBI Share Ownership




                                                                                             48.77%      PT Prima Sawit Borneo


                                                                                             46.76%      PT Mandiri Indah Lestari


                                              PT CITRA                                       1.23%       PT Agro Citra Mandiri

                                              BORNEO
                                                                                             1.22%
                                               INDAH                                                     PT Putra Borneo Agro Lestari


                                                                                             0.01%       Jemmy Adriyanor


                                                                                             0.01%       Jery Borneo Putra




                                                          Manajemen Kunci PT Citra Borneo Indah
                                                         Key Management of PT Citra Borneo Indah

                                                            Dewan Komisaris | Board of Commissioners
        Komisaris Utama | President Commissioner                                 H. Abdul Rasyid AS
        Komisaris | Commissioner                                                 R. Suroyo Bimantoro


                                                                   Direksi | Board of Directors
        Direktur Utama | President Director                                      Vallauthan Subraminam
        Wakil Direktur Utama | Vice President Director                           Jery Borneo Putra
        Direktur | Director                                                      Hendri Ratoe Bachtiar




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STRUKTUR GRUP PERUSAHAAN
COMPANY’S GROUP STRUCTURE




                                PT PUTRA BORNEO               PT CITRA BORNEO       MASYARAKAT
                                  AGRO LESTARI                      INDAH               Public


                                     9,61%                        61,24%               29,15%




         99%                         70,22%                        99%                  100%                             100%



                       4‫و‬,00%                      4‫و‬,00%

   PT MITRA MENDAWAI            PT CITRA BORNEO             PT KALIMANTAN SAWIT   SSMS PLANTATION                 SSMS SUMBERMAS
         SEJATI                    UTAMA TBK                        ABADI         HOLDINGS PTE. LTD.           INTERNATIONAL, PTE. LTD


                                                                                        100%
                        1%                         99%

                                 PT SAWIT MULTI
                                     UTAMA

                                                                                  SSMS PLANTATION
                        1%                         99%                            HOLDINGS PTE. LTD.

                                PT TANJUNG SAWIT
                                      ABADI



                       99%                          1%

                                PT MIRZA PRATAMA
                                      PUTRA



                       99%                          1%

                                   PT MENTENG
                                  KENCANA MAS




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       INFORMASI ENTITAS ANAK DAN/ATAU ENTITAS ASOSIASI
       INFORMATION ON SUBSIDIARY AND/OR ASSOCIATED ENTITY

       Sampai dengan 31 Desember 2023, Perseroan memiliki 5 (lima)                       As of December 31, 2023, the Company has 4 (four) Direct
       Entitas Anak dengan Kepemilikan Langsung, 5 (lima) Entitas Anak                   Subsidiaries, 5 (five) Indirect Subsidiaries and 2 (two) Associated
       dengan Kepemilikan Tidak Langsung, dan 2 (dua) Entitas Asosiasi                   Entities, namely:
       yaitu:

                                                                                 Tahun         Kepemilikan (%)       Jumlah Aset (Rp-Juta)
                                                                               Beroperasi       Ownership (%)       Total Assets (IDR-Million)      Status
                                                               Tahun Berdiri
              Nama           Bidang Usaha         Domisili                      Komersial                                                           Operasi
                                                                   Year of
              Name          Line of Business      Domicile                       Year of                                                           Operation
                                                               Establishment                   2023       2022         2023          2022
                                                                               Commercial                                                           Status
                                                                                Operation
        Entitas Anak Kepemilikan Langsung
        Direct Subsidiaries
        PT Kalimantan       Perkebunan dan      Kotawaringin       2004          2005          99%         99%       4.951.871     4.671.269     Beroperasi
        Sawit Abadi         pabrik kelapa       Barat                                                                                            Operating
        (KSA)               sawit               West
                            Oil Palm            Kotawaringin
                            Plantations and
                            Palm Oil mill
        PT Mitra            Perkebunan dan      Kotawaringin       1996          2008          99%         99%       3.603.462     3.481.039     Beroperasi
        Mendawai            pabrik kelapa       Barat                                                                                            Operating
        Sejati (MMS)        sawit dan inti      West
                            Oil Palm            Kotawaringin
                            Plantations and
                            Palm Oil mill and
                            Kernel crushing
                            plant
        SSMS                Perusahaan       Singapore             2017           2018        100%        100%       1.878.296      992.511      Beroperasi
        Plantation          jasa pendukung                                                                                                       Operating
        Holding Pte.        bisnis
        Ltd (SPH)           Business support
                            service
        Sawit               Penjual produk      Singapore          2018           2018        100%        100%          15             10        Beroperasi
        Sumbermas           kelapa sawit                                                                                                         Operating
        International       Company
        Pte. Ltd (SSI)      wholesale of
                            palm oil
        PT Citra Borneo Pertanian,              Kotawaringin       2013           2018        78,2%       26%*       4.336.194     3.019.974     Beroperasi
        Utama Tbk       industri, dan           Barat                                                                                            Operating
        (CBUT)          perdagangan             West
                        Agriculture,            Kotawaringin
                        industry, and
                        trading


        Entitas Anak Kepemilikan Tidak Langsung Melalui KSA
        Indirect Subsidiaries through KSA
        PT Tanjung          Perkebunan dan      Kotawaringin       2004           2012         99%         99%       2.074.383     1.985.399     Beroperasi
        Sawti Abadi         pabrik kelapa       Barat                                                                                            Operating
        (TSA)               sawit               West
                            Oil Palm            Kotawaringin
                            Plantations and
                            Palm Oil mill
        PT Sawit Multi      Perkebunan dan      Kotawaringin       2005           2012         99%         99%       1.707.597     1.604.380     Beroperasi
        Utama (SMU)         pabrik kelapa       Barat                                                                                            Operating
                            sawit               West
                            Oil Palm            Kotawaringin
                            Plantations and
                            Palm Oil mill




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                                                                     Tahun      Kepemilikan (%)            Jumlah Aset (Rp-Juta)
                                                                   Beroperasi    Ownership (%)            Total Assets (IDR-Million)           Status
                                                   Tahun Berdiri
     Nama         Bidang Usaha        Domisili                      Komersial                                                                  Operasi
                                                       Year of
     Name        Line of Business     Domicile                       Year of                                                                  Operation
                                                   Establishment                2023         2022            2023             2022
                                                                   Commercial                                                                  Status
                                                                    Operation
Entitas Anak Kepemilikan Tidak Langsung Melalui MMS
Indirect Subsidiaries through MMS
PT Mirza         Perkebunan         Lamandau           2004           2011      99%           99%           724.200          574.465       Beroperasi
Pratama Putra    Oil Palm                                                                                                                  Operating
(MPP)            Plantations
PT Menteng       Perkebunan         Pulang Pisau       2005           2010      99%           99%          1.382.367        1.443.576      Beroperasi
Kencana Mas      Oil Palm                                                                                                                  Operating
(MKM)            Plantations


Entitas Anak Kepemilikan Tidak Langsung Melalui SPH
Indirect Subsidiaries through SPH
SSMS             Jasa               Singapore          2017           2018      99%           99%          1.928.002        1.078.646      Beroperasi
Plantation       Konsultasi dan                                                                                                            Operating
Singapore        Perdagangan
International    Concultancy
Pte. Ltd (SPI)   services and
                 trading


Entitas Asosiasi
Associated Entities
PT Surya        Industri dan        Kotawaringin       2013           2018      49%           49%          1.035.551        1.169.732      Beroperasi
Borneo Industri perdagangan         Barat                                                                                                  Operating
(SBI)           Industry and        West
                trading             Kotawaringin
                                                                                  *) kepemilikan saham sebelum akuisisi | share ownership before acquisition




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       PROFIL ENTITAS ANAK DAN ASOSIASI
       PROFILE OF SUBSIDIARY ENTITIES AND ASSOCIATED
        PT KALIMANTAN SAWIT ABADI (“KSA”)

        Jl. H. Udan Said No. 47          Berdiri pada tanggal 25 Maret 2004. Perseroan menguasai     Established on March 25, 2004, The Companys has KSA
        Pangkalan Bun,                   saham KSA sebesar 99%. KSA mulai beroperasi secara          shares of 99%. KSA commencement of commercial
        Kalimantan Tengah                komersial tahun 2005 dan menjalankan kegiatan usaha         operations since 2005 and engaged in palm oil plantation
        Indonesia 74113                  pengelolaan perkebunan seluas 7.275,68 ha dan pabrik        management upon 7,275.68 ha plantation area and a palm
        Telp: (+62-532) 21297            kelapa sawit dengan kapasitas produksi 60 metrik ton        oil mill with a production capacity of 60 metric tons of
                                         Tandan Buah Segar (TBS) per jam. Pada tahun 2023,           Fresh Fruit Bunches (FFB) per hour. In 2023, KSA managed
                                         Entitas Anak ini mengelola aset sebesar Rp4.952 miliar.     total assets of IDR4,952 billion.




        PT MITRA MENDAWAI SEJATI (“MMS”)

        Jl. H. Udan Said No. 47          Berdiri pada tanggal 6 Mei 1999. Perseroan menguasai        Established on May 6, 1999, the Company’s has MMS
        Pangkalan Bun,                   sebesar 99% saham MMS. MMS mulai beroperasi secara          shares of 99%. MMS commencement of commercial
        Kalimantan Tengah                komersial tahun 2008. MMS menjalankan usaha utama           operations since 2008, MMS engaged in managing a
        Indonesia 74113                  yang terdiri dari perkebunan seluas 10.347,18 ha, pabrik    palm oil plantation of 10,347.18 ha, a palm oil mill with a
        Telp: (+62-532) 21297            kelapa sawit dengan kapasitas produksi 60 metrik ton        production capacity of 60 metric tons of FFB per hour
                                         TBS per jam dan inti sawit sebanyak 150 metrik ton PKO      and a palm kernel mill of 150 metric tons of PKO per day
                                         per hari yang berlokasi di Kotawaringin Barat. Pada tahun   located in West Kotawaringin. In 2023, MMS managed
                                         2023, MMS mengelola asset senilai Rp3.603 miliar.           total assets of IDR3,603 billion.




        SSMS PLANTATION HOLDING PTE. LTD (“SPH”)

        One Marina Boulevard #28-00,     SPH didirikan Perseroan pada tanggal 12 Juli 2017 dalam     SPH established on July 12, 2017, to support the Company’s
        Singapura 018989                 rangka menunjang upaya Perseroan untuk masuk ke             penetration in global market. SPH shares 100% owned by
                                         pasar global. Saham SPH dimiliki 100% oleh Perseroan.       the Company. The Company with Singapore based was
                                         Perusahaan yang berbasis di Singapura ini didirikan         founded to support the Company’s business in relation
                                         sebagai pendukung bisnis Perseroan sehubungan               the Bond issuance of US$300 million on January 24, 2018.
                                         dengan penerbitan obligasi di the Singapore Exchange        SPH commencement of commercial operations in 2018. In
                                         Securities Trading Ltd (“SgX”) senilai US$300 juta pada     2023, SPH managed total assets of IDR1,878 billion.
                                         tanggal 24 Januari 2018. SPH mulai beroperasi secara
                                         komersial tahun 2018. Pada tahun 2023, SPH mengelola
                                         aset senilai Rp1.878 miliar.




        SAWIT SUMBERMAS INTERNATIONAL PTE. LTD. (“SSI”)

        8 Eu Tong Sen Street #21-95,     Pada tanggal 31 Desember 2018, Perseroan membentuk          On December 31, 2018, the Company decided to establish
        The Central, Singapura 059818    anak usaha baru, Sawit Sumbermas International Pte. Ltd.    Sawit Sumbermas International Pte. Ltd. (SSI) in order to
                                         (“SSI”) untuk mendukung kegiatan grup perusahaan, yaitu     support the Group’s palm oil trading business. In 2023, SSI
                                         penjualan kelapa sawit. Pada tahun 2023, SSI mengelola      managed total assets of IDR0.015 billion.
                                         aset senilai Rp0,015 miliar.




        PT Citra Borneo Utama Tbk (“CBU”)

        ASDP/                            Perseroan mengakuisisi 13% atau senilai Rp600.000.000       The Company acquired 13% or amounting to
        Pelabuhan Roro Tempenek,         saham PT Citra Borneo Utama Tbk pada tahun 2020             IDR600,000,000 of shares of PT Citra Borneo Utama Tbk
        Kelurahan Kumai Hulu,            berdasarkan Perjanjian Akta. Notaris No. 74 Notaris Dr.     in 2020 under the Notarial Deed No. 74 Notariy of Dr. Tintin
        Kecamatan Kumai                  Tintin Surtini, S.H., MH., Mkn pada tanggal 29 Desember     Surtini, S.H., MH., Mkn dated December 29, 2020. In 2023,
        Kabupaten Kotawaringin Barat     2020. Di tahun 2023, Perseroan menyetujui penyelesaian      the Company approved the debt settlement of PT Citra
        Telp: (+62-532) 21297            sebagian utang PT Citra Borneo Indah (“CBI”) melalui        Borneo Indah (“CBI”) by handing over shares of PT Citra
                                         pengalihan kepemilikan saham milik CBI pada PT Citra        Borneo Utama Tbk (“CBUT”) in one stage for the shares
                                         Borneo Utama Tbk (“CBUT”) kepada Perseroan. Dengan          owned by CBI to the Company. Thus, the Company’s
                                         demikian, secara keseluruhan saham Perseroan di             overall share in PT Citra Borneo Utama Tbk is 78.22%
                                         CBUT adalah sebesar 78,22% dimana 70,22% saham              where 70.2% share owned directly by the Company, 4%
                                         dimiliki langsung oleh Perseroan, 4% saham dimiliki         share owned indirectly by KSA, and 4% share owned
                                         tidak langsung melalui KSA, dan 4% saham dimiliki           indirectly by MMS. PT Citra Borneo Utama Tbk is engaged
                                         tidak langsung melalui MMS. CBUT bergerak di bidang         in processing of palm oil and commencement of
                                         pengolahan minyak kelapa sawit dan mulai beroperasi         commercial operations in 2018. By the end of 2023, the
                                         secara komersial pada tahun 2018. Hingga akhir tahun        Company has 70.22% shares of PT Citra Borneo Utama
                                         2023, Perseroan memiliki 70,22% saham PT Citra Borneo       Tbk with managed total assets of IDR4,336 billion.
                                         Utama Tbk dengan nilai aset yang dikelola sebesar
                                         Rp4.336 miliar.




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PT TANJUNG SAWIT ABADI (“TSA”)

Jl. H. Udan Said No. 47          TSA berdiri pada tanggal 2 Desember 2003 dan mulai         TSA was established on December 2, 2003, and started
Pangkalan Bun,                   beroperasi secara komersial pada tahun 2012. TSA           its commercial operation in 2012. TSA manages a
Kalimantan Tengah                menjalankan usaha pengelolaan perkebunan seluas            14,961.96 ha palm oil plantation and a palm oil mill with
Indonesia 74113                  14.961,96 ha dan pabrik kelapa sawit dengan kapasitas      its production capacity of 60 (sixty) metric tons of FFB per
Telp: (+62-532) 21297            produksi sebesar 60 metrik ton TBS per jam. Perseroan      hour. The Company has acquired TSA in 2015 and owns
                                 mengakuisisi TSA pada tahun 2015, dan menguasai            TSA’s 99% shares. In 2023, TSA managed total assets of
                                 99% saham. Pada akhir tahun 2023, TSA mengelola aset       IDR2,074 billion.
                                 sebesar Rp2.074 miliar.




PT SAWIT MULTI UTAMA (“SMU”)

Jl. H. Udan Said No. 47          Didirikan tanggal 16 Februari 2004. SMU diakuisisi oleh    Established on February 16, 2004, and has been acquired
Pangkalan Bun,                   Perseroan tahun 2015, dan menguasai 100% saham. SMU        by the Company in 2015 and mastering 100% shares. SMU
Kalimantan Tengah                mulai beroperasi secara komersial tahun 2012. Entitas      commencement of commercial operations in 2012 and
Indonesia 74113                  anak ini menjalankan usaha pengelolaan perkebunan          engaged in a palm oil plantation of 17,484.95 ha and a
Telp: (+62-532) 21297            seluas 17.484,95 ha dan pabrik kelapa sawit dengan         palm oil mill with a production capacity of 75 metric tons
                                 kapasitas produksi sebesar 75 metrik ton TBS per jam.      of FFB per hour. In 2022, SMU managed total assets of
                                 Pada tahun 2023, SMU mengelola aset senilai Rp1.708        IDR1,708 billion.
                                 miliar.




PT MIRZA PRATAMA PUTRA (“MPP”)

Jl. Pakunegara RT. 04 Lantai 2   Diakuisisi tahun 2015, Perseroan menguasai 99% saham       Acquired in 2015, the Company has MPP shares of 99%.
Kec. Arut Selatan,               MPP. MPP berdiri tanggal 9 Juni 2004 dengan kegiatan       MPP was established on June 9, 2004, and engaged in
Kab. Kotawaringin Barat,         usaha utama berupa pengelolaan perkebunan kelapa           managing palm oil plantation covering an area of 6,424.60
Kalimantan Tengah.               sawit seluas 6.424,60 ha dengan kapasitas produksi 60      ha with a production capacity of 60 metric tons of FFB per
Telp: (+62-532) 21297            metrik ton TBS per jam. MPP mulai beroperasi secara        hour. MPP commencement of commercial operations in
                                 komersial tahun 2011. Pada tahun 2023, MPP mengelola       2011. In 2023, MPP has managed total assets of IDR724
                                 aset senilai Rp724 miliar.                                 billion.




PT MENTENG KENCANA MAS (“MKM”)

Jl. Pakunegara RT. 04 Lantai 2   MKM berdiri pada tanggal 15 November 2005 dengan           MKM was established on November 15, 2005, and
Kec. Arut Selatan,               kegiatan usaha utama berupa pengelolaan perkebunan         engages in managing 17,597.52 ha of palm oil plantation
Kab. Kotawaringin Barat,         kelapa sawit seluas 17.597,52 ha dengan kapasitas          with its production capacity of 60 metric tons of FFB per
Kalimantan Tengah.               produksi 60 metrik ton TBS per jam. MKM mulai beroperasi   hour. Started its commercial operations in 2010, MKM was
Telp: (+62-532) 21297            secara komersial tahun 2010. Pada tahun 2015, Perseroan    then acquired in 2015 by the Company with its 99% shares.
                                 mengakuisisi MKM dan menguasai 99% saham. Pada             In 2023, MKM managed total assets of IDR1,382 billion.
                                 tahun 2023, MKM mengelola aset senilai Rp1.382 miliar.




SSMS PLANTATION INTERNASIONAL PTE.LTD. (“SPI”)

One Marina Boulevard #28- 00,    SPI didirikan oleh Perseroan pada tanggal 12 Juli 2017     SPI established on July 12, 2017, with a 100% direct
Singapura 018989                 dengan kepemilikan saham sebesar 100%. Tujuan pendirian    ownership. The establishment of the Singaporebased
                                 perusahaan yang berbasis di Singapura ini adalah untuk     subsidiary is to conduct consulting and trading services.
                                 menjalankan jasa konsultasi dan perdagangan. SPI mulai     SPI commencement of commercial operations since 2018.
                                 beroperasi secara komersial tahun 2018. Pada tahun 2023,   In 2023, SPI managed total assets worth IDR1,928 billion.
                                 SPI mengelola asset senilai Rp1.928 miliar.

Entitas Asosiasi
Associated Entities

PT Surya Borneo Indah (“SBI”)

Jl. H. Udan Said No. 47          Perseroan memiliki saham SBI sebesar 49% setelah           The Company has 49% SBI’s shares after the conversion of
Kel. Baru, Kec. Arut Selatan     konversi pinjaman dan piutang Perseroan kepada SBI         the Group’s loans and receivables to SBI of IDR739,301,579
Kabupaten Kotawaringin Barat     sebesar Rp739.301.579 yang dilakukan pada tanggal          which was carried out in August 14, 2019. SBI is engaged in
Telp: (+62-532) 21297            14 Agustus 2019. SBI bergerak di bidang industri dan       industry and trading and commencement of commercial
                                 perdagangan yang mulai beroperasional pada 2018.           operations in 2018. By the end of 2023, the Company has
                                 Hingga akhir tahun 2023, Perseroan memiliki 49% saham      49% shares of PT Citra Borneo Utama Tbk with managed
                                 PT Surya Borneo Industri dengan nilai aset yang dikelola   total assets of IDR1,036 billion.
                                 sebesar Rp1.036 miliar.



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       KRONOLOGI PENCATATAN SAHAM
       CHRONOLOGY OF SHARE LISTING




       Penawaran Saham Perdana                                                            Initial Public Offering

       Perseroan melakukan Penawaran Umum Saham Perdana (Initial                          The Company conducted an Initial Public Offering (IPO) after
       Public Offering/IPO) setelah memperoleh Surat Pernyataan Efektif                   obtaining an Effective Statement from the Board of Commissioners
       dari Dewan Komisioner Otoritas Jasa Keuangan (OJK) berdasarkan                     of the Financial Services Authority (OJK) through a Letter No.
       Surat No. S-393/D.04/2013.                                                         S-393/D.04/2013.


       Pada pelaksanaan IPO, Perseroan melepas 1.500.000.000 (satu                        In the IPO, the Company released 1,500,000,000 (one billion five
       miliar lima ratus juta) saham biasa yang setara dengan 15,7% dari                  hundred million) common shares equivalent to 15.7% of the issued
       modal ditempatkan dan disetor penuh pada nilai nominal Rp100                       and fully paid-up capital at a nominal value of IDR100 (one hundred
       (seratus rupiah) per lembar dan harga pelaksanaan Rp670 (enam                      rupiah) per share and an exercise price of IDR670 (six hundred
       ratus tujuh puluh rupiah) per lembar saham. Termasuk dalam                         seventy rupiah) per share. Included in the shares offered to the
       jumlah saham umum perdana yang ditawarkan ke public tersebut,                      public was a total of 150,000,000 (one hundred and fifty million)
       sebanyak 150.000.000 (seratus lima puluh juta) saham adalah                        shares to be allocated in the Employee Stock Allocation Program.
       saham yang dialokasikan dalam Program Alokasi Saham Karyawan                       It was stipulated in the Decree of the Board of Directors No. Dir.
       (Employee Stock Allocation Program). Hal tersebut ditetapkan                       Kom/IPOESA/001/VIII/2013 dated September 19, 2013. Then on
       dalam Surat Keputusan Direksi No. Dir.Kom/IPOESA/001/                              December 12, 2013, all shares of the Company have been listed on
       VIII/2013 tanggal 19 September 2013. Kemudian pada tanggal 12                      the Indonesia Stock Exchange. The total number of shareholders
       Desember 2013, seluruh saham Perseroan telah terdaftar di Bursa                    of the Company reached more than 1,200. The chronology of the
       Efek Indonesia. Jumlah pemegang saham Perseroan mencapai                           Company’s IPO is as follows:
       lebih dari 1.200. Kronologis pelaksanaan IPO Perseroan dijabarkan
       berikut ini:


                                                                                                                              Jumlah Saham Terakumulasi
            Tanggal Pencatatan                 Tindakan Korporasi                 Harga Saham (Rp)    Saham Baru (lembar)              (lembar)
               Listing Date                     Corporate Action                   Share Price (Rp)     New Stock (share)    Number of Stock Accumulated
                                                                                                                                        (share)
                                    Sebelum IPO
        -                                                                                 -                    -                    8.025.000.000
                                    Before IPO
        3-5 Desember 2013           Penawaran umum perdana
                                                                                        670              1.500.000.000                    -
        December 3-5, 2013          Initial public offering
        12 Desember 2013            Pencatatan saham di Bursa Efek Jakarta
                                                                                          -              1.500.000.000              9.525.000.000
        December 12, 2013           Share Listing on the Jakarta Stock Exchange




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                                                                                                                           PROFIL PERUSAHAAN
                                                                                                                                        COMPANY PROFILE   03

KRONOLOGI OBLIGASI DAN EFEK LAINNYA
CHRONOLOGY OF BOND LISTING AND OTHER SECURITIES

Perseroan melalui entitas anaknya, SSMS Plantation Holding                Through its subsidiary, SSMS Plantation Holding Pte. Ltd., the
Pte. Ltd. berhasil menerbitkan obligasi global senilai US$300             Company succeeded in issuing global bonds worth US$300
juta dengan bunga 7,75% dan memiliki tenor 5 tahun. Obligasi              million with an interest rate of 7.75% with a tenor of 5 years. The
itu terdaftar di The Singapore Exchange Securities Trading Ltd            bonds were listed on The Singapore Exchange Securities Trading
(SGX) per tanggal 24 Januari 2018. Penerbitan obligasi global             Ltd (SGX) as of January 24, 2018. The global bond issuance which
yang sempat mengalami oversubscribed tersebut menunjuk The                had been oversubscribed appointed The Bank of New York Mellon
Bank of New York Mellon Cabang London sebagai wali amanat.                London Branch as the trustee. From the issuance of global bonds,
Dari penerbitan obligasi global itu, Perseroan mempergunakan              the Company used part of the funds to pay off the Company’s
sebagian dananya untuk membayar utang bank Perseroan,                     bank debt, whereas 3.4% or US$10 million was used to finance
sedangkan sebanyak 3,4% atau US$10 juta dipergunakan untuk                sustainability programs launched by the Company.
membiayai program-program keberlanjutan yang dicanangkan
oleh Perseroan.


Di tahun 2022, Perseroan berhasil melakukan buy back sebagian             In 2022, the Company has bought back global bonds which was
obligasi global yang diterbitkan pada tahun 2018 dan di tahun             issued in 2018 and in 2023, SSMS has been paid off global bonds
2023 SSMS telah melunasi obligasi global senilai US$300 juta              worth US$300 million or IDR4.5 trillion which were published in
atau setara Rp4,5 triliun yang diterbitkan di Bursa Singapura pada        Singapore Exchange in 2018.
tahun 2018.


Kronologi Penerbitan Obligasi Global
Global Bond Issuance Chronology

                                     Uraian Kegiatan                                          Jumlah                Tanggal Pelaksanaan
                                     List of Activities                                        Total                Implementation Date
Masa Penawaran Obligasi                                                                                                 23 Januari 2018
                                                                                         US$300.000.000
Bond Booking Period                                                                                                    January 23, 2018
Pencatatan Obligasi di SGX                                                                                              24 Januari 2018
                                                                                         US$300.000.000
Bond Listing in SGX                                                                                                    January 24, 2018
Pembayaran Suku Bunga I ke Bank of New York Mellon Cabang New York                                                        23 Juli 2018
                                                                                          US$11.625.000
Payment of Interest Rate I to Bank of New York Mellon, New York Branch                                                   July 23, 2018
Pembayaran Suku Bunga II ke Bank of New York Mellon Cabang New York                                                     23 Januari 2019
                                                                                          US$11.625.000
Payment of Interest Rate II to Bank of New York Mellon, New York Branch                                                January 23, 2019
Pembayaran Suku Bunga III ke Bank of New York Mellon Cabang New York                                                      23 Juli 2019
                                                                                          US$11.625.000
Payment of Interest Rate I to Bank of New York Mellon, New York Branch                                                   July 23, 2019
Pembelian Kembali obligasi global                                                                                        14 July 2022
                                                                                          $233,752,500.00
Buy back global bonds                                                                                                    July 14, 2022
Pelunasan obligasi global senilai US$300 juta atau setara Rp4,5 triliun                                                 23 Januari 2023
                                                                                          $40,275,000.00
Paid off global bonds worth US$300 million or IDR4.5 trillion                                                          January 23, 2023




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       INFORMASI KANTOR AKUNTAN PUBLIK
       PUBLIC ACCOUNTING FIRM INFORMATION

       Berdasarkan RUPS Tahunan yang diselenggarakan pada 8 Mei                   Based on the Company’s Annual GMS, which was held on May
       2023, serta melalui rekomendasi Dewan Komisaris, Perseroan                 8, 2023, and by the Board of Commissioner’s recommendation,
       menunjuk KAP Purwantono, Sungkoro & Surja dengan Akuntan                   the Company has appointed the Public Accounting Firm (KAP)
       Publik Agung Purwanto sebagai KAP yang mengaudit Laporan                   Purwantono, Sungkoro & Surja with Agung Purwanto as the
       Keuangan Konsolidasian Perseroan untuk tahun buku 2023.                    Public Accountant to audit the Company’s Consolidated Financial
       Adapun lingkup jasa yang diberikan adalah mengaudit Laporan                Statements for the 2023 Fiscal Year. Meanwhile the scope of
       Keuangan Konsolidasian Perusahaan untuk Tahun buku 2023.                   services provided is to perform audit on the Consolidated Financial
       Berdasarkan lingkup jasa tersebut, tidak ada jasa lain yang                Statements of the Company for the 2023 Financial Year. Based
       diberikan KAP selain jasa audit laporan keuangan tahunan.                  on this scope, there are no other services which was provided
       Berikut adalah KAP yang melakukan audit atas Laporan Keuangan              by KAP unless from audit of Annual Financial Statements. The
       konsolidasian Perseroan dalam 5 (lima) tahun terakhir:                     following are KAP’s which was providing audit for the Company’s
                                                                                  Consolidated Financial Statements in the last 5 (five) years::


                                         Kantor Akuntan Publik                Akuntan Publik
                                         Public Accounting Firm              Public Accountant
          Tahun Buku          Nama Kantor Akuntan                                                                Opini                Biaya (Rp)
         Financial Year                                                                  No. Izin               Opinion               Fee (IDR)
                                     Publik                  No. Izin       Auditor
                                                                                         License
                            Name of Public Accounting    License Number     Auditor
                                                                                         Number
                                      Firm
                            Purwantono, Sungkoro                                                    Wajar dalam semua hal yang
                                                                            Agung
              2023          & Surja (Ernst & Young        603/KM.1/2015                  AP.0687    material                         3.850.000.000
                                                                           Purwanto
                            Indonesia)                                                              Fair, in all material respects
                            Purwantono, Sungkoro                                                    Wajar dalam semua hal yang
                                                                            Agung
              2022          & Surja (Ernst & Young        603/KM.1/2015                  AP.0687    material                         1.300.000.000
                                                                           Purwanto
                            Indonesia)                                                              Fair, in all material respects
                            Purwantono, Sungkoro                                                    Wajar dalam semua hal yang
                                                                            Agung
              2021          & Surja (Ernst & Young        603/KM.1/2015                  AP.0687    material                         3.200.000.000
                                                                           Purwanto
                            Indonesia)                                                              Fair, in all material respects
                            Purwantono, Sungkoro                                                    Wajar dalam semua hal yang
              2020          & Surja (Ernst & Young        603/KM.1/2015   Deden Riyadi   AP.0692    material                         3.600.000.000
                            Indonesia)                                                              Fair, in all material respects
                            Purwantono, Sungkoro                                                    Wajar dalam semua hal yang
              2019          & Surja (Ernst & Young        603/KM.1/2015   Deden Riyadi   AP.0692    material                         2.950.000.000
                            Indonesia)                                                              Fair, in all material respects




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                                                                                                                             PROFIL PERUSAHAAN
                                                                                                                                          COMPANY PROFILE   03

LEMBAGA/PROFESI PENUNJANG PASAR MODAL
CAPITAL MARKET SUPPORTING INSTITUTIONS/PROFESSIONS

Akuntan Publik dan Kantor Akuntan Publik                                  Jasa Kustodian Saham
Public Accounting and Public Accounting Firm                              Stock Custodian Services
Nama Perusahaan       Purwantono, Sungkoro & Surja                        Nama Perusahaan
                                                                                                PT Kustodian Sentral Efek Indonesia
Company Name          (Ernst & Young Indonesia)                           Company Name
Alamat                Gedung Indonesia Stock Exchange/                    Alamat                Gedung Bursa Efek Indonesia/
Address               Indonesia Stock Exchange Building,                  Address               Indonesia Stock Exchange Building, Tower 1, Lt. 5
                      Tower II, 7 th Floor.                                                     Jl. Jend. Sudirman kav. 52-53, Jakarta 12190
                      Jl. Jendral Sudirman Kav. 52-53, Jakarta Selatan.                         Indonesia
                      12190                                               Jasa yang Diberikan   Jasa Penyimpanan Saham / Bank Kustodian
Jasa yang Diberikan   Mengaudit Laporan Keuangan Konsolidasian            Services Provided     Stock Custodian Services/Custodian Bank
Services Provided     Perusahaan untuk Tahun buku 2023                    Biaya
                      To perform audit on the Consolidated Finansial                            Rp11.100.000
                                                                          Fee
                      Statements of the Company for the 2023
                                                                          Periode Penugasan
                      Financial Year.                                                           2023
                                                                          Assignment Period
Biaya                 Rp3.850.000.000
Fee
Periode Penugasan     2023
Assignment Period


Biro Administrasi Efek                                                    Pengawas Pasar Modal
Stock Administration Bureau                                               Capital Market Supervisor
Nama Perusahaan                                                           Nama Perusahaan       Otoritas Jasa Keuangan (OJK)
                      PT Datindo Entrycom
Company Name                                                              Company Name          Financial Services Authority
Alamat                Jl. Hayam Wuruk No. 28 Jakarta 10120, Indonesia     Alamat                Gedung Soemitro Djojohadikusumo/
Address               Tel : +62 21 350 8077                               Address               Soemitro Djojohadikusumo Building
                      Fax : +62 21 350 8078                                                     Jalan Lapangan Banteng Timur 2-4
                      E-mail : dm@datindo.com                                                   Jakarta 10710
Jasa yang Diberikan   Jasa Administrasi Saham Pasar Sekunder,             Jasa yang Diberikan   Sebagai regulator yang melakukan pengawasan
Services Provided     berupa pencatatan daftar Pemegang Saham dan         Services Provided     dan menerbitkan peraturan terkait pasar modal
                      pencatatan atas perubahan-perubahan pada                                  As regulator who supervises and issues the
                      daftar Pemegang Saham atas nama perusahaan                                regulation related capital market
                      yang tercatat di Bursa Efek Indonesia.              Biaya
                      Secondary Market Stock Administration Services,                           Rp112.500.000
                                                                          Fee
                      in the form of recording the list of Shareholders
                                                                          Periode Penugasan
                      and recording changes to the list of Shareholders                         2023
                                                                          Assignment Period
                      on behalf of companies listed on the Indonesia
                      Stock Exchange
Biaya
                      Rp43.600.000
Fee
Periode Penugasan
                      2023
Assignment Period




Bursa Efek Indonesia
Indonesia Stock Exchange
Nama Perusahaan
                      PT Bursa Efek Indonesia
Company Name
Alamat                Gedung Bursa Efek Indonesia/
Address               Indonesian Stock Exchange Building, Tower 1
                      Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190,
                      Indonesia
                      Tel : +62 21 515 0515
                      Fax: +62 21 515 4153
                      Website : www.idx.co.id
                      E-mail : listing@idx.co.id
Jasa yang Diberikan   Menyediakan infrastruktur perdagangan dan
Services Provided     pencatatan efek
                      Providing trading infrastructure and securities
                      listing
Biaya
                      Rp277.500.000
Fee
Periode Penugasan
                      2023
Assignment Period



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       INFORMASI WEBSITE PERSEROAN
       INFORMATION ON THE COMPANY WEBSITE

       Perseroan mengimplementasikan prinsip tata kelola perusahaan   The Company implements Good Corporate Governance principles
       yang baik (Good Corporate Governance) dengan memenuhi          by complying with the Financial Services Authority Regulation
       Peraturan Otoritas Jasa Keuangan (POJK) Nomor 8/POJK.04/2015   (POJK) Number 8/POJK.04/2015 concerning Issuer or Public
       tentang Situs Web Emiten atau Perusahaan Publik. Perseroan     Company Websites. The Company has an official website www.
       memiliki situs web (website) resmi www.ssms.co.id yang dapat   ssms.co.id which is accessible for stakeholders. The Company’s
       diakses oleh para pemangku kepentingan. Situs web Perseroan    website contains the following information:
       memuat informasi sebagai berikut:


       1. Tentang Kami                                                1. About Us
          • Sejarah Perusahaan                                           • Company History
          • Profil Perusahaan                                            • Company Profile
          • Struktur Perusahaan                                          • Corporate Structure
          • Primeland/Asset                                              • Primeland/Asset
          • Tata Kelola Perusahaan                                       • Corporate Governance
       2. Bisnis Kami                                                 2. Our Business
       3. Hubungan Investor                                           3. Investor Relations
       4. Keberlanjutan                                               4. Sustainability
       5. CSR                                                         5. CSR
       6. Media                                                       6. Media
       7. Karir                                                       7. Career
       8. Kontak Perusahaan                                           8. Contact




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            PROFIL PERUSAHAAN
                         COMPANY PROFILE   03




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                             ANALISIS DAN PEMBAHASAN MANAJEMEN
                                          MANAGEMENT DISCUSSION AND ANALYSIS   04




ANALISIS DAN
                     04
PEMBAHASAN
 MANAJEMEN
 MANAGEMENT DISCUSSION
          AND ANALYSIS


 Kinerja SSMS tahun 2023 mampu menghasilkan laba
 kotor sebesar Rp2.799 miliar atau setara dengan 26%
 dari total pendapatan Perseroan di tahun 2023 yang
 mencapai Rp10.703 miliar. Selain itu, kinerja Perseroan
 juga terlihat lebih kuat pada tahun 2023 dengan
 peningkatan modal Perseroan mencapai Rp11,8 triliun,
 meningkat 6% dari tahun lalu.

 SSMS performance in 2023 is able to generate gross
 profit of Rp2,799 billion or equivalent to 26% of the
 Company’s total revenue in 2023 which reached
 Rp10,703 billion. Furthermore, the Company’s was able
 to deliver stronger performance in 2023 with increased
 in the Company’s capital reached Rp11.8 trillion, grew by
 8% than the previous year.


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       TINJAUAN PEREKONOMIAN DAN INDUSTRI
       OVERVIEW OF THE ECONOMY AND INDUSTRY

       Analisis Kondisi Perekonomian Global dan Nasional                            Analysis of Global and National Economic Conditions

       Status pandemi Covid-19 telah resmi dicabut oleh WHO, namun                  Despite the Covid-19 pandemic status having been officially lifted
       pemulihan ekonomi global terhadap dampak yang ditimbulkannya                 by WHO, the global economic recovery from its impacts has
       masih terhambat. Berdasarkan data International Monetary Fund                been hampered still. Based on International Monetary Fund (IMF)
       (IMF) yang dimuat dalam World Economic Outlook pertumbuhan                   data published in the World Economic Outlook, global economic
       perekonomian global tahun 2023 diestimasikan sebesar 3,1% lebih              growth in 2023 was estimated at 3.1%, lower than it was in 2022
       rendah dibandingkan tahun 2022 sebesar 3,5%. Pertumbuhan                     which reached 3.5%. Economic growth in developed countries
       ekonomi negara maju hanya mencapai 1,6% lebih rendah dari                    only reached 1.6%, lower than it was in 2022 of 2.6%, whereas
       tahun 2022 sebesar 2,6%, sedangkan pertumbuhan perekonomian                  economic growth in developing countries was stable at 4.1%.
       negara berkembang stabil sebesar 4,1%.


       Keterbatasan pasokan energi dan pangan global masih berlanjut                Limited global energy and food supplies have continued as a
       sebagai dampak dari perang Rusia di Ukraina serta permasalahan               result of Russian war in Ukraine and climate change problems. The
       perubahan iklim. Kawasan Eropa mengalami cuaca dingin ekstrem                European region has been experiencing extreme cold weather
       dan Kawasan Asia mengalami Elnino sehingga mengganggu                        and the Asian region has been experiencing Elnino, disrupting
       pasokan energi dan ketahanan pangan. Penawaran yang terbatas                 energy supplies and food security. Limited supply has driven
       mendorong kenaikan harga energi dan pangan dunia serta                       up world energy and food prices as well as tight labor markets
       keketatan pasar tenaga kerja di sejumlah negara maju. Inflasi yang           in a number of developed countries. High inflation has reduced
       tinggi dapat menurunkan daya beli masyarakat baik di negara                  people’s purchasing power in both developed and developing
       maju maupun negara berkembang, sehingga Bank-bank sentral                    countries, so central banks are striving to reduce inflationary
       berupaya menurunkan tekanan inflasi, salah satunya dengan                    pressure, one of which is by raising interest rates. Global inflation
       menaikkan suku bunga. Inflasi global diestimasikan mencapai                  was estimated to reach 6.8% in 2023.
       6,8% pada tahun 2023.


       Ketegangan geopolitik dunia semakin meningkat seiring terjadinya             World geopolitical tensions have been increasing as conflicts
       konflik antar negara yang terus bertambah. Perang Rusia di Ukraina           among countries have continued to increase, including the
       yang masih berlangsung ditambah konflik Israel dan Palestina.                ongoing Russian war in Ukraine as well as the Israeli and Palestinian
       Perang dagang antara Amerika Serikat dan Tiongkok juga masih                 conflict. Furthermore, the trade war between the United States
       belum usai sehingga turut menghambat pertumbuhan volume                      and China is not over yet, which is also hampering the growth of
       perdagangan global. Negara-negara di dunia perlu bekerja                     global trade volume. It is necessary for the countries in the world
       sama untuk meredakan ketegangan geopolitik dan mengurangi                    to collaborate to defuse geopolitical tensions and reduce their
       dampaknya terhadap perekonomian global.                                      impact on the global economy.


                                          Grafik Pertumbuhan Ekonomi Global Tahun 2022-2023 (%)
                                            Graph of Global Economic Growth for 2022-2023 (%)


                                                                        Eropa                                            Amerika Serikat
                             Global                                     Europe                                       United States of America


        20                                  3,5         20                                        3,4         20                                    1,9
        22                                              22                                                    22
        20                                  3,1         20                                        0,5         20                                    2,5
        23                                              23                                                    23


                            Tiongkok                                        India                                            ASEAN-5
                              China


        20                                  5,2         20                                        7,2         20                                    5,5
        22                                              22                                                    22
        20                                  3,0         20                                        6,7         20                                    4,2
        23                                              23                                                    23


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                                                                                                                                                    MANAGEMENT DISCUSSION AND ANALYSIS   04




Perekonomian Indonesia tahun 2023 mengalami pertumbuhan                                   The economy in Indonesia in 2023 experienced stable growth.
yang stabil. Badan Pusat Statistik melaporkan pertumbuhan                                 The Central Statistics Agency reported that Indonesia’s economic
ekonomi Indonesia pada triwulan IV tahun 2023 tumbuh sebesar                              growth in the fourth quarter of 2023 grew by 5.04% (yoy) and
5,04% (yoy) dan secara kumulatif tahun 2023 mencapai 5,05%,                               cumulatively in 2023 reached 5.05%, slightly lower than the
sedikit lebih rendah dibandingkan tahun sebelumnya sebesar                                previous year’s figure of 5.31%.
5,31%.


Dari sisi produksi, seluruh sektor lapangan usaha menunjukkan                             In terms of production, all business sectors show positive
kinerja yang positif. Pertumbuhan tertinggi terjadi pada sektor                           performance. The highest growth occurred in the Transportation
Transportasi dan Pergudangan sebesar 10,33% (yoy), diikuti Jasa                           and Warehousing sector at 10.33% (yoy), followed by Other
Lainnya sebesar 10,15%, dan Pengadaan Listrik dan Gas sebesar                             Services at 10.15%, and Electricity and Gas Procurement at 8.68%.
8,68%.


                         Grafik Pertumbuhan PDB Berdasarkan Lapangan Usaha Tahun 2022-2023 (%)
                              Graph of GDP Growth Based on Business Fields for 2022-2023 (%)


        Pengadaan Listrik dan Gas                                  Transportasi dan Pergudangan                                  Penyediaan Akomodasi dan Makan Minum
     Procurement of Electricity and Gas                           Transportation and Warehousing                               Provision of accommodation and food and drink



20                                        2,31             20                                              16,99               20                                           13,81
22                                                         22                                                                  22
20                                        8,68             20                                              10,33               20                                             7,89
23                                                         23                                                                  23


               Jasa Lainnya                                                Jasa Perusahaan                                              Informasi dan Komunikasi
              Other Services                                               Company Services                                          Information and Communication



20                                    11,14                20                                              10,42               20                                             8,75
22                                                         22                                                                  22
20                                    10,15                20                                               7,62               20                                             6,74
23                                                         23                                                                  23


      Pertambangan dan Penggalian                                              Konstruksi                                              Jasa Keuangan dan Asuransi
          Mining and Excavation                                               Construction                                           Financial Services and Insurance



20                                        6,46             20                                               1,61               20                                             3,76
22                                                         22                                                                  22
20                                        7,46             20                                               7,68               20                                             6,56
23                                                         23                                                                  23


                                                               Pertanian, Kehutanan, dan Perikanan
                                                                Agriculture, Forestry and Fisheries



                                                           20                                               4,51
                                                           22
                                                           20                                               1,12
                                                           23
                                                 Sumber: BPS, Berita Resmi Statistik | Source: BPS, Official Statistics News




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       Dari sisi pengeluaran Konsumsi Lembaga Nonprofit yang Melayani                     In terms of expenditure, consumption by non-profit institutions
       Rumah Tangga (LNPRT) mengalami pertumbuhan tertinggi yaitu                         that serve households (LNPRT) experienced the highest growth,
       sebesar 18,11% yang dipengaruhi oleh peningkatan aktivitas                         namely 18.11%, which was influenced by the increase in preparatory
       persiapan Pemilihan Umum. Konsumsi Rumah Tangga dan                                activities for the General Election. Household Consumption and
       Konsumsi Pemerintah masing-masing tumbuh sebesar 4,47% dan                         Government Consumption grew by 4.47% and 2.81% respectively.
       2,81%. Ekspor Barang dan Jasa tumbuh sebesar 1,64%, sedangkan                      Exports of goods and services grew by 1.64%, while imports of
       Impor Barang dan Jasa terkontraksi sebesar 0,15%.                                  goods and services contracted by 0.15%.


       Inflasi Indonesia tahun 2023 mencapai level yang terendah                          Indonesia’s inflation in 2023 reached its lowest level in the last
       dalam sembilan tahun terakhir. Berdasarkan laporan Badan                           nine years. Based on reports from the Central Statistics Agency,
       Pusat Statistik, Indonesia mengalami inflasi sebesar 2,61%                         Indonesia experienced inflation of 2.61% in 2023. Indonesia’s
       selama tahun 2023. Inflasi Indonesia tahun 2023 terkendali dalam                   inflation in 2023 was controlled within the target range of 3.0 ±
       kisaran sasaran 3,0 ±1%. Hal ini merupakan hasil nyata konsistensi                 1%. This is a concrete result of the consistent monetary policy
       kebijakan moneter yang ditempuh sejak tahun 2022 serta sinergi                     implemented since 2022 as well as policy synergy between
       kebijakan Bank Indonesia dengan Pemerintah Pusat dan Daerah.                       Bank Indonesia and the Central and Regional Governments.
       Seluruh kelompok pengeluaran mengalami inflasi. Kelompok                           All expenditure categories experienced inflation. The food,
       pengeluaran makanan, minuman, dan tembakau mengalami                               beverage and tobacco expenditure category experienced the
       inflasi tertinggi sebesar 6,18%, diikuti kelompok perawatan pribadi                highest inflation at 6.18%, followed by the personal care and other
       dan jasa lainnya serta kelompok penyediaan makanan dan                             services category as well as the food and beverage services or
       minuman/restoran masing-masing mengalami inflasi sebesar                           restaurant category which experienced inflation of 3.55% and
       3,55% dan 2,07%.                                                                   2.07% respectively.


                                                        Grafik Inflasi Tahun 2015-2023 (%)
                                                     Graph of Inflation Rate for 2015-2023 (%)



                      7

                      6                                                                                                               5,51

                      5

                      4                              3,61
                               3,35
                                                                       3,13
                      3                                                                  2,72
                                         3,02
                      2                                                                                                                       2,61
                                                                                                                               1,87
                                                                                                           1,68
                      1

                      0
                               2015      2016         2017              2018              2019              2020               2021   2022     2023




                                                 Sumber: BPS, Berita Resmi Statistik | Source: BPS, Official Statistics News




       Bank Indonesia melakukan mitigasi dampak inflasi barang impor                      Bank Indonesia has mitigated the impact of inflation on imported
       dan menjaga inflasi tetap terkendali berada dalam kisaran sasaran                  goods and maintained inflation under control within the target
       3,0±1%. BI-Rate sebagai suku bunga kebijakan menggantikan                          range of 3.0 ± 1%. The BI-Rate, as the policy interest rate to
       BI 7-Day (Reverse) Repo Rate dinaikkan oleh Bank Indonesia                         replace the BI 7-Day (Reverse) Repo Rate, was increased by
       sebesar 25 bps menjadi sebesar 5,75% sejak awal tahun 2023.                        Bank Indonesia by 25 bps to 5.75% in the beginning of 2023. Bank
       Bank Indonesia memutuskan untuk menaikkan kembali BI-Rate                          Indonesia decided to increase the BI-Rate again by 25 bps to
       sebesar 25 bps menjadi sebesar 6,00% pada 19 Oktober 2023. BI-                     6.00% on October 19, 2023. BI-Rate continued to be maintained at
       Rate terus dipertahankan sebesar 6,00% hingga akhir tahun 2023.                    6.00% as of the end of 2023.




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                                                                                                                                      MANAGEMENT DISCUSSION AND ANALYSIS   04




                                        Grafik Perkembangan BI Rate Tahun 2022-2023 (%)
                                         Graph of BI Rate Development for 2022-2023 (%)



           7
                5,75        5,75     5,75        5,75        5,75          5,75        5,75         5,75                   6,00       6,00          6,00
                                                                                                                 5,75
           6

                                                                                                                                                    5,50
           5
                                                                                                                                      5,25
                                                                                                                            4,75
           4                                                                                                    4,25
                                                                                                    3,75
           3    3,50       3,50      3,50        3,50        3,50         3,50         3,50

           2

           1

           0
               JANUARI    FEBRUARI   MARET       APRIL        MEI         JUNI         JULI       AGUSTUS     SEPTEMBER   OKTOBER   NOVEMBER      DESEMBER
               JANUARY    FEBRUARY   MARCH       APRIL        MAY         JUNE         JULY       AUGUST      SEPTEMBER   OCTOBER   NOVEMBER      DECEMBER




       2022        2023


                                       Sumber: Bank Indonesia, www.bi.go.id | Source: Bank of Indonesia, www.bi.go.id




Analisis Industri Kelapa Sawit dan Posisi Perseroan di                            Analysis of the Palm Oil Industry and the Company’s
Industri                                                                          Position in the Industry

Kelapa sawit merupakan salah satu komoditas hasil perkebunan                      Palm oil is one of the plantation commodities which plays an
yang memiliki peran cukup penting bagi perekonomian Indonesia.                    important role in Indonesia’s economy. Vegetable oil produced
Minyak nabati yang dihasilkan dari pengolahan kelapa sawit                        from palm oil processing is much needed by the processing
banyak dibutuhkan oleh sektor industri pengolahan. Industri                       industry sector. The palm oil industry also has great potential
kelapa sawit juga memiliki potensi besar dalam mendorong                          in encouraging regional economic growth through employment
pertumbuhan ekonomi di daerah melalui penyerapan tenaga                           and infrastructure development. The Palm Oil Plantation Fund
kerja dan pembangunan infrastruktur. Badan Pengelola Dana                         Management Agency (BPDPKS) has noted that the performance
Perkebunan Kelapa Sawit (BPDPKS) mencatat kinerja sektor                          of the domestic palm oil sector involves 2.4 million independent
kelapa sawit dalam negeri melibatkan 2,4 juta petani swadaya                      farmers and 16 million workers. This has a positive impact on
dan 16 juta tenaga kerja. Hal ini memberikan pengaruh positif                     improving people’s welfare and reducing unemployment rates.
terhadap peningkatan kesejahteraan rakyat dan penurunan angka
pengangguran.


Perusahaan kelapa sawit melakukan pembangunan infrastruktur                       Palm oil companies carry out infrastructure development in rural
di daerah pedesaan tidak hanya untuk mendukung kegiatan                           areas not only to support their operational activities, but also to
operasionalnya, tetapi juga dapat dimanfaatkan oleh masyarakat                    facilitate the rural communities. Roads, bridges and schools in
pedesaan. Jalan, jembatan, dan sekolah di wilayah pedesaan                        rural areas that were previously isolated and underdeveloped
yang semula terisolir dan terbelakang dibangun sehingga dapat                     were built to increase community accessibility and connectivity
meningkatkan aksesibilitas dan konektivitas masyarakat terhadap                   to better public services.
layanan publik yang lebih baik.


Industri kelapa sawit juga menjadi salah satu penghasil devisa                    The palm oil industry is also one of the country’s top foreign
negara yang besar. Devisa dari ekspor minyak kelapa sawit dan                     exchange earners. Foreign exchange from exports of palm oil
produk turunannya memiliki kontribusi penting dalam neraca                        and its derivative products has greatly contributed to Indonesia’s
perdagangan non-migas Indonesia. Namun, perkembangan                              non-oil and gas trade balance. However, the development of the
industri kelapa sawit tahun 2023 menghadapi berbagai tantangan.                   palm oil industry in 2023 encountered various challenges. Based
Berdasarkan data Gabungan Pengusaha Kelapa Sawit Indonesia                        on data from the Indonesian Palm Oil Entrepreneurs Association
(GAPKI) sampai dengan Oktober 2023, devisa ekspor CPO hanya                       (GAPKI) as of October 2023, CPO export foreign exchange only
mencapai USD23,54 miliar dan diperkirakan hingga akhir tahun                      reached USD23.54 billion and it is estimated that by the end of the
tidak akan melampaui capaian tahun 2022 sebesar USD39,07                          year it would not exceed the achievement in 2022 of USD 39.07
miliar.                                                                           billion.



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       Pada tahun 2023 harga minyak nabati global mengalami                                     In 2023, global vegetable oil prices declined amidst the economic
       penurunan di tengah perlambatan ekonomi. Bank Dunia dalam                                deceleration. The World Bank in its Commodity Market Outlook
       Commodity Market Outlook Oktober 2023 memprediksi harga                                  October 2023 estimated that the price of palm oil would fall from
       minyak kelapa sawit akan turun mulai tahun 2023 sampai 2025.                             2023 to 2025. The European Union’s anti-deforestation policy is a
       Kebijakan anti-deforestasi Uni Eropa menjadi faktor risiko jangka                        long-term risk factor for the agricultural and plantation industries,
       panjang bagi industri pertanian dan perkebunan, termasuk kelapa                          including palm oil.
       sawit.


                                                    Grafik Proyeksi Rata-Rata Harga Minyak Sawit (USD/mt)
                                                     Graph of Average Palm Oil Price Projection (USD/mt)




                  1.400                                           1.276

                  1.200
                                     1.131
                 1.000

                                                                                               920                          900
                   800                                                                                                                                     850

                   600

                   400

                   200

                      0
                                         2021                      2022                        2023                         2024                           2025




                                 Sumber: World Bank, Commodity Markets Outlook Oktober 2023 | Source: World Bank, Commodity Markets Outlook October 2023




       Perseroan dan entitas anak terus berupaya menjaga stabilitas                             The Company and its subsidiaries continuously strive to maintain
       kinerja di tengah perlambatan ekonomi dan tren penurunan harga                           performance stability amidst the economic deceleration and
       minyak sawit. Pada tahun 2023 Perseroan telah berkontribusi                              the downward trend in palm oil prices. In 2023, the Company
       terhadap perekonomian nasional, dengan membukukan                                        contributed to the national economy, by recording sales of
       penjualan sebesar Rp10,70 triliun. Apalagi di tahun 2023 posisi                          Rp10.70 trillion. Furthermore, in 2023 the Company’s position as
       Perseroan sebagai pemegang saham mayoritas dari PT Citra                                 the majority shareholder of PT Citra Borneo Utama Tbk or CBUT
       Borneo Utama Tbk atau CBUT membuka peluang lebih luas dalam                              opened up wider opportunities in developing palm oil which can
       pengembangan minyak kelapa sawit yang dapat menghasilkan                                 produce a variety of derivative products.
       beragam produk turunannya.




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                                                                                                                     MANAGEMENT DISCUSSION AND ANALYSIS   04

STRATEGI BISNIS
BUSINESS STRATEGY




Sebagai upaya untuk mengembangkan usaha, di tahun 2023                   As an effort to develop the business, in 2023 the Company carried
Perseroan melakukan serangkaian strategi untuk meningkatkan              out a series of strategies to increase productivity and control
produktivitas dan pengendalian biaya operasional, diantaranya            operational costs, including acquiring a subsidiary by carrying out
mengakuisisi anak usaha melalui penyelesaian sebagian utang              debt settlement of PT Citra Borneo Indah (“CBI”) by transferring
PT Citra Borneo Indah (“CBI”) dengan mengalihkan kepemilikan             CBI’s share ownership to PT Citra Borneo Utama Tbk (“CBUT”)
saham milik CBI pada PT Citra Borneo Utama Tbk (“CBUT”) kepada           to the Company, as well as providing new opportunities in the
Perseroan, memberi peluang baru dalam hilirisasi produk sawit            downstreaming of palm oil products and product diversification.
dan diversifikasi produk. Dengan demikian, secara keseluruhan            Thus, overall the Company’s shares in CBUT are 78.22%, and
saham Perseroan di CBUT adalah sebesar 78,22% dimana 70,22%              70.22% of which are owned directly by the Company, 4% of which
saham dimiliki langsung oleh Perseroan, 4% saham dimiliki tidak          are owned indirectly through KSA, and 4% of which are owned
langsung melalui KSA, dan 4% saham dimiliki tidak langsung               indirectly through MMS.
melalui MMS.


Strategi tersebut dilakuan untuk mengoptimalisasi hilirisasi bisnis      This strategy was carried out to optimize the Company’s
Perseroan yang berkelanjutan dengan menyediakan produk                   sustainable downstream business by providing comprehensive
kelapa sawit yang menyeluruh dari hulu ke hilir.                         palm oil products from upstream to downstream.
                                                                         In addition, the Company has continuously strived to strengthen
Selain itu, Perseroan juga terus berupaya memperkuat inovasi             development innovation and research with Sulung Research
dan riset pengembangan bersama Sulung Research Station                   Station (SRS), which is the key of the sustainability of palm oil
(SRS) yang menjadi ujung tombak keberlanjutan produk kelapa              products. As of the end of 2023, SRS has produced a number of
sawit. Hingga akhir tahun 2023, SRS telah menghasilkan sejumlah          innovative products which are solutions to various problems and
produk inovasi yang menjadi solusi untuk menangani berbagai              obstacles in oil palm plantations.
permasalahan dan kendala pada perkebunan kelapa sawit.


Strategi lain yang dijalankan Perseroan di tahun 2023 adalah             Another strategy implemented by the Company in 2023 was
dengan merampungkan berbagai sertifikasi seperti sertifikasi             to complete various certifications such as the Roundtable
Rountable Susutainable Palm Oil (RSPO), Indonesia Sustainable            Sustainable Palm Oil (RSPO), Indonesia Sustainable Palm Oil
Palm Oil (ISPO), International Sustainability and Carbon Certification   (ISPO), International Sustainability and Carbon Certification
(ISCC), dan Business and Human Rights International Standards for        (ISCC), and Business and Human Rights International Standards
Certification 2011 (BHRISC) untuk hak asasi manusia (HAM) untuk          for Certification 2011 (BHRISC) for human rights (HAM) for all of
seluruh unit bisnis Perseroan. Dengan demikian, keberlanjutan            the Company’s business units. Thus, the sustainability of the
produk hulu Perseroan telah 100% tersertifikasi RSPO dan ISPO.           Company’s upstream products is RSPO and ISPO certified.



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       ASPEK PEMASARAN
       MARKETING ASPECT

       Industri sawit secara umum mengalami pertumbuhan yang baik,                       The palm oil industry in general experienced good growth, even
       bahkan pada saat pandemi industri ini dikenal sebagai bisnis yang                 during the pandemic this industry was known as a crisis-resistant
       tahan krisis. Selain menjadi penghasil devisa, industri sawit mampu               business. Apart from being a foreign exchange earner, the palm
       menyerap banyak tenaga kerja. Saat ini terdapat 22 provinsi dari 34               oil industry is able to absorb a lot of workers. Currently there are 22
       provinsi di Indonesia yang berhasil mengembangkan perkebunan                      provinces out of 34 provinces in Indonesia that have successfully
       kelapa sawit, dimana sekitar 90% berada di pulau Sumatera                         developed crude palm oil plantations, of which around 90% are on
       dan Kalimantan dengan kontribusi sebesar 95% terhadap total                       the islands of Sumatera and Kalimantan with a contribution of 95%
       produksi minyak sawit mentah/Crude Palm Oil (CPO).                                to the total production of crude palm oil (CPO).


       Perkembangan pasar sawit semakin bertumbuh diiringi dengan                        The development of the palm oil market is increasingly growing in
       konsumsi minyak sawit dalam negeri yang mengalami tren                            line with domestic palm oil consumption which has experienced
       kenaikan selama selama enam tahun terakhir. Kenaikan konsumsi                     an upward trend over the last six years. The increase in domestic
       sawit dalam negeri dipicu oleh hilirisasi produk sawit yang memiliki              palm oil consumption has been triggered by the downstreaming of
       ceruk pasar yang luas. Hilirisasi tidak hanya digunakan untuk                     palm oil products which have a wide market niche. Downstreaming
       memenuhi kebutuhan pangan dan non pangan dalam negeri,                            is not only used to meet domestic food and non-food needs,
       tetapi juga bermanfaat untuk menghasilkan produk substitusi                       but also used to produce domestic import substitute products.
       impor dalam negeri. Berdasarkan data GAPKI, sepanjang 2023                        Based on GAPKI data, throughout 2023 total domestic palm oil
       total konsumsi minyak sawit dalam negeri mencapai 23,21 juta ton,                 consumption reached 23.21 million tons, increasing approximately
       bertambah sekitar 2,07 juta ton atau tumbuh 9,8% dibandingkan                     2.07 million tons or 9.8% growth compared to 2022 (yoy). This
       tahun 2022 (yoy). Konsumsi ini paling banyak digunakan untuk                      consumption was mostly used for making biodiesel, which
       pembuatan biodiesel yang mencapai 10,65 juta ton atau 45,9%                       reached 10.65 million tons or 45.9% of total national consumption.
       dari total konsumsi nasional. Sementara konsumsi minyak sawit                     Meanwhile, food palm oil consumption was estimated to have
       pangan sekitar 10,3 juta ton atau 44,4% dari total konsumsi                       reached 10.3 million tons or 44.4% of total national consumption.
       nasional.




             25.000.000


             20.000.000


             15.000.000


             10.000.000


              5.000.000


                      0
                                    2018            2019                    2020                     2021                 2022                     2023




                      Total Konsumsi Dalam Negeri     Konsumsi untuk Pangan                 Konsumsi untuk Biodiesel             Konsumsi untuk Oleokimia
                      Total Domestic Consumption      Consumption for Food                  Consumption for Biodiesel            Consumption for Oleochemicals



                                                    Sumber: GAPKI diolah Databoks | Source: GAPKI processed by Databoks



       Oleh karena itu, pilihan mendorong hilirisasi turunan CPO                         For that reason, encouraging the downstreaming of CPO
       merupakan pilihan yang harus diambil dan dijalankan oleh                          derivatives is an initiative that must be taken and implemented
       Perseroan. Strategi Perseroan mengakuisisi anak usaha PT Citra                    by the Company. The Company’s strategy to acquire PT Citra
       Boerneo Indah yaitu PT Citra Borneo Utama Tbk (“CBUT”) menjadi                    Boerneo Indah’s subsidiary, namely PT Citra Borneo Utama Tbk
       strategi yang tepat untuk mengembangkan pasar Perseroan.                          (“CBUT”) is the right strategy to develop the Company’s market.




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                                                                                                                                          MANAGEMENT DISCUSSION AND ANALYSIS   04

PROSPEK USAHA
BUSINESS PROSPECT

Prospek Perekonomian Indonesia Tahun 2024                                          Indonesian Economic Outlook for 2024

Proyeksi pertumbuhan ekonomi Indonesia tahun 2024 diperkirakan                     Indonesia’s economic growth projection for 2024 is expected to be
akan terjaga di 5,2%. Stabilitas politik nasional diperkirakan dapat               maintained at 5.2%. National stability is expected to be maintained
terus terjaga dan mendorong optimisme masyarakat dan pelaku                        and it encourage public and business optimism to continue
usaha untuk terus melanjutkan kegiatan ekonomi dan tren positif                    economic activities and the positive trend of new job opening. In
pembukaan lapangan kerja baru. Selain itu, perbaikan tingkat                       addition, improving the level of public welfare will also be a driving
kesejahteraan masyarakat juga akan menjadi faktor pendorong                        factor for consumption in 2024. Government consumption in 2024
konsumsi di tahun 2024. Konsumsi Pemerintah pada tahun 2024                        is projected to grow relatively high. The holding of simultaneous
diproyeksikan tumbuh relatif tinggi. Penyelenggaraan Pemilu dan                    elections and regional elections in 2024 is one of the pillars of
Pilkada serentak di tahun 2024 merupakan salah satu penopang                       Indonesia’s consumption growth in 2024. Based on this optimism,
tumbuhnya konsumsi Indonesia tahun 2024. Berdasarkan                               the government issued the basic medium-term macroeconomic
optimisme tersebut pemerintah mengeluarkan asumsi dasar                            assumptions for 2024-2027 in the 2024 State Budget which is
ekonomi makro jangka menengah tahun 2024-2027 di dalam                             explained in the following table.
RAPBN tahun 2024 yang dijelaskan dengan tabel sebagai berikut.


Tabel Asumsi Dasar Ekonomi Makro Jangka Menengah Tahun 2024-2027
Table of Basic Medium Term Macroeconomic Assumptions for 2024-2027

Indikator
                                                                                           2027             2026                 2025                      2024
Indicator
Pertumbuhan Ekonomi (% yoy)
                                                                                          5,7 – 6,4       5,6 – 6,3            5,5 – 6,0                     5,2
Economic Growth (% yoy)
Inflasi (% yoy)
                                                                                          1,5 – 3,5       1,5 – 3,5            1,5 – 3,5                     2,8
Inflation (% yoy)
Nilai Tukar (Rp/USD)
                                                                                    14.600 – 15.000     14.700-15.100       14.800 – 15.200               15.000
Exchange Rate (Rp/USD)
Tingkat Suku Bunga SBN 10 Tahun (%)
                                                                                         6,73 – 7,5       6,73 – 7,5           6,73 – 7,5                    6,7
SBN Interest rates – 10 years (%)
Harga Minyak Mentah Indonesia (US$/barel)
                                                                                          70 - 90          70 - 90              70 - 90                      80
Indonesian Crude Oil Prices (US$/barel)
Lifting Minyak Mentah (ribu barel per hari)
                                                                                         618 - 756        624 - 731           606 - 684                     625
Lifting of Crude Oil (thousand barrel per day)
Lifting Gas (ribu barel setara minyak per hari)
                                                                                        1.151 – 1.340   1.175 – 1.307        1.052 – 1.147                 1.033
Lifting of Natural Gas (thousand barrel per day)
Sumber: Rencana Anggaran Pendapatan Belanja Negara (RAPBN) 2024, Kementerian Keuangan
Source: 2024 State Revenue and Expenditure Budget Plan (RAPBN), Ministry of Finance




Prospek Industri Sawit Tahun 2024                                                  Palm Oil Industry Prospect for 2024

Di tahun 2024, industri kelapa sawit Indonesia masih harus                         In 2024, the Indonesian palm oil industry will still have to encounter
menghadapi berbagai tantangan. Dari sisi ekonomi global,                           various challenges. In terms of the global economy, uncertainties
ketidakpastian masih membayangi pertumbuhan ekonomi global                         will still affect global economic growth, especially in developed
khususnya negaranegara maju. USA masih dilanda inflasi yang di atas                countries. The USA is still hit by inflation which exceeds the
target, China sebagai salah satu konsumen terbesar 2 minyak sawit                  target. China as one of the 2 largest consumers of palm oil is
juga masih bergulat dengan pelemahan ekonomi pasca Covid-19,                       also still grappling with the post-Covid-19 economic weakness,
begitu juga dengan Eropa dimana kondisi ekonominya melemah                         as is Europe where the economic condition is weakening with an
dengan defisit fiskal yang meningkat diiringi inflasi yang masih tinggi.           increasing fiscal deficit along with the high inflation.


Sementara itu, eskalasi geopolitik global kian memanas. Disaat                     Meanwhile, global geopolitical escalation is increasingly heating up.
eskalasi laut hitam yang belum mereda akibat perang Rusia dan                      While the escalation in the Black Sea has not yet subsided due to the
Ukraina yang juga memberikan dampak besar pada pasokan                             war between Russia and Ukraine which has also had a major impact
beberapa komoditas strategis di pasar global, kini dunia juga                      on the supply of several strategic commodities on the global market,
harus menghadapi eskalasi geopolitik di laut merah akibat perang                   now the world also has to face geopolitical escalation in the Red Sea
Israel dan Palestina yang juga diperkirakan dapat memberikan                       due to the Israeli and Palestinian war which is also expected to have
dampak besar terhadap pasokan komoditas mengingat laut                             a major impact on commodity supply, considering that the Red Sea
merah merupakan jalur strategis perdagangan global.                                is a strategic route for global trade.



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       GAPKI memperkirakan prospek industri sawit tahun 2024            GAPKI projects that the palm oil industry for 2024 will have the
       mempunyai kecenderungan sebagai berikut:                         following tendencies:


       •    Konsumsi dalam negeri diperkirakan akan terus mengalami     •   Domestic consumption is expected to continue to increase,
            kenaikan, terutama untuk kebutuhan pangan, industri             especially for food needs, the oleochemical industry and
            oleokimia dan kebutuhan energi (biodiesel) dengan adanya        energy needs (biodiesel) with the implementation of Biodiesel
            implementasi Biodiesel (B35) secara setahun penuh (Fully        (B35) for a full year (Fully Implemented).
            Implemented).
       •    Harga minyak nabati dunia termasuk minyak kelapa sawit      •   World prices for vegetable oils, including palm oil, will not
            tidak banyak mengalami perubahan dibandingkan dengan            change much compared to 2023.
            tahun 2023.
       •    Produksi diperkirakan akan stagnan.                         •   Production is expected to stagnate.
       •    Volume ekspor diperkirakan akan mengalami penurunan,        •   Export volume is expected to decline, mainly due to increasing
            terutama karena meningkatnya kebutuhan dalam negeri.            domestic demand.


       Melihat kondisi tersebut, Perseroan optimis prospek usaha di     Given these conditions, the Company is optimistic that business
       tahun 2024 masih terbuka sangat lebar. Apalagi kini Perseroan    prospects in 2024 are still very wide open, especially now that the
       telah mengakuisisi PT Citra Borneo Utama Tbk (“CBUT”)            Company has acquired PT Citra Borneo Utama Tbk (“CBUT”) to
       untuk meningkatkan produk hilirisasi sawit. Dengan strategi      increase downstream palm oil products. With this strategy, the
       ini, Perseroan meyakini kinerja Perseroan di tahun 2024 akan     Company believes that the Company’s performance in 2024 will
       meningkat. Hal ini sesuai target Perseroan di tahun 2024 yang    increase. This is in line with the Company’s target in 2024, which
       menargetkan penjualan sebanyak 673.296 MT atau Rp6,80 triliun.   targets of 673,296 MT or Rp6.80 trillion.




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                                                                                                                                            MANAGEMENT DISCUSSION AND ANALYSIS   04

TINJAUAN OPERASI PER SEGMEN USAHA
REVIEW OF BUSINESS SEGMENTS
Sejak mengakuisisi CBUT, Perseroan melaksanakan kegiatan                                Since acquiring CBUT, the Company has carried out its operational
operasionalnya dari hulu ke hilir melalui dua segmen operasi yaitu                      activities from upstream to downstream through two operating
segmen upstream yang dilakukan melalui perkebunan kelapa                                segments, namely the upstream segment which is carried out
sawit serta menjual produknya di 1 (satu) wilayah yaitu Kalimantan                      through oil palm plantations and sells its products in 1 (one) region
Tengah dan segmen downstream yang dilakukan dengan menjual                              that is Central Kalimantan and the downstream segment which
minyak nabati dengan penjualan dilakukan di pasar lokal dan                             is carried out by selling edible oil that sold the products in local
eksport. Semua kegiatan operasional tersebut dilakukan di                               and export markets. All operational activities are carried out in the
wilayah Kalimantan Tengah. Perkebunan kelapa sawit yang                                 Central Kalimantan region. The oil palm plantations managed by
dikelola oleh Perseroan berada di Kotawaringin Barat, Lamandau,                         the Company are in West Kotawaringin, Lamandau, and Pisau Island,
dan Pulau Pisau, Kalimantan Tengah. Sedangkan pabrik refinery                           Central Kalimantan. Meanwhile, the refinery plant is in Kumai, West
berada di Kumai, Kotawaringin Barat.                                                    Kotawaringin.

                                                                                                        Perkebunan Kelapa Sawit
                UPSTREAM                                                                                   Palm Oil Plantation


 • Budidaya perkebunan Kelapa Sawit
                                                Internal production:




 • Panen Tandan Buah Segar
                                                  ~2 mil mT of FFB




 • Penelitian dan Pengembangan untuk                                                                    Perkebunan yang Dikelola
   peningkatan produktivitas/yield                                      Perkebunan Sendiri                     (Plasma)                     Independen / Pihak Ketiga
                                                                          Own Plantation                  Managed Plantations                 Independent / 3rd Party
                                                                                                               (Plasma)
 • Palm Oil Plantation
 • Harvesting of fresh fruit bunch
 • Research and development to improve
   productivity/yield


                                                                                                        Tandan Buah Segar (TBS)
                                                                                                        Fresh Fruit Bunches (FFB)




               MIDSTREAM
                                                Internal production:
                                                  ~500K mT of CPO




 • Penggilingan TBS dan penghancuran PK                                                                          Pabrik
 • Pengilangan untuk produksi produk CPO                                                                          Mills

   dan PK

 • FFB milling and PK crushing
 • Refineries for production of primary CPO
   and PK products                                                     Minyak Sawit Mentah                                                           Inti Sawit
                                                                          Crude Palm Oil                                                            Palm Kernel




             DOWNSTREAM

 • Pengolahan lebih lanjut CPO menjadi                                  Pabrik Pengilangan/                                                    Pabrik Penghancuran
   produk akhir                                                             Fraksionasi                                                              Inti Sawit
                                                Refinery Capacity:
                                                ~850K mT of CPO




                                                                            Refineries/                                                            Palm Kernel
 • Cabang perdagangan untuk dijual ke                                   Fractionation Plants                                                      Crushing Plant
   konsumen akhir produk

 • Further processing of CPO primary
   products into intermediate/final products
 • Trading arm for sale of final consumer
                                                                         Produk CPO Curah                                                        Produk PK Curah
   products
                                                                            RBD palm oil                                                          Palm kernel oil
                                                                           RBD palm olein                                                      Palm kernel expeller
                                                                          RBD palm stearin                                                      Palm kernel olein
                                                                       Palm fatty acid distillate
                                               downstream business
                                                produced by CBUT/
                                                   *Presently not




         Operasional dilakukan oleh
                                                                               Produk Campuran/Khusus                                Produk Konsumen Akhir
         Operations are carried out by
                                                                                        Edible oils                                    Food and Nutrition
         PT Citra Borneo Utama Tbk                                                    Oleochemicals                                 Beauty and personal care
                                                                                         Biodiesel                                   Home care/industrials




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       SEGMEN PERKEBUNAN (HULU)                                             PLANTATIONS SEGMENT (UPSTREAM)

       Di segmen hulu atau upstream, Perseroan melakukan kegiatan           In the upstream segment, the Company carries out plantation
       perkebunan dan pemanenan kebun kelapa sawit yang                     activities and harvests palm oil plantations which produce fresh
       menghasilkan tandan buah segar yang kemudian di proses di            fruit bunches which are subsequently processed in the plant to
       pabrik untuk menghasilkan CPO.                                       produce CPO.


       Pada tahun 2023 area perkebunan Perseroan tercatat seluas            In 2023, the Company’s plantation area was recorded at 115,880.80
       115.880,80 ha meliputi 93.534,29 ha perkebunan inti dan 22.346,51    ha including 93,534.29 ha of nucleus estate and 22,346.51 ha of
       ha perkebunan plasma. Luas area perkebunan yang belum                plasma smallholder estate. The area of immature estate was
       menghasilkan tercatat sebanyak 1.060,28 ha yang terdiri dari         recorded at 1,060.28 ha, consisting of 266.37 ha of immature
       266,37 ha perkebunan inti yang belum menghasilkan dan 733,91         nucleus estate and 733.91 ha of immature plasma smallholder
       ha perkebunan plasma yang belum menghasilkan. Sedangkan              estate. Meanwhile, the area of mature estate reached 81,045.44
       luas area perkebunan yang menghasilkan mencapai 81.045,44 ha         ha, including 68.900,69 ha of mature nucleus estate and 12,504.76
       mencakup 68.900,69 ha perkebunan inti yang menghasilkan dan          ha of mature plasma smallholder estate. The area of other
       12.504,76 ha perkebunan plasma yang menghasilkan. Luas area          plantations is recorded at 33,309.39 ha, including 24,261.55 ha for
       perkebunan lain-lain tercatat 33.309,39 ha mencakup 24.261,55 ha     kernel plantations and 9,047.84 ha for plasma smallholder estate.
       untuk perkebunan inti dan 9.047,84 ha untuk perkebunan plasma.




             1. PT Mirza Pratama Putra     3. PT Tanjung Sawit Abadi       5. PT Sawit Sumbermas Sarana    6. PT Mitra Mendawai Sejati
                i) Sumber Cahaya              i) Nanuah                       i) Kenambui                     i) Umpang
                                              ii) Sungai Bulik                ii) Sulung                      ii) Suayap
             2. PT Sawit Multi Utama          iii) Melata                     iii) Rangda
                i) Pedongatan                                                 iv) Pulau                    7. PT Menteng Kencana Mas
                ii) Nanga Kiu                                                 v) Kondang                      i) Kanamit
                iii) Merambang             4. PT Kalimantan Sawit Abadi       vi) Selangkun                   ii) Badirih
                iv) Sepondam                  i) Natai Baru                   vii) Rungun                     iii) Bahaur
                v) Batu Tunggal               ii) Batu Kotam




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                                                                               MANAGEMENT DISCUSSION AND ANALYSIS   04




 PERKEBUNAN INTI & PLASMA            PERKEBUNAN INTI                 PERKEBUNAN PLASMA
 NEUCLEUS & PLASMA ESTATE            NEUCLEUS ESTATE                   PLASMA ESTATE



       Grand Total Area               Grand Total Area                  Grand Total Area
       Grand Total Area               Grand Total Area                  Grand Total Area




115.880,80                      93.534,29                      22.346,51
     Hektare | Hectares             Hektare | Hectares                Hektare | Hectares



 Luas Area Belum Menghasilkan   Luas Area Belum Menghasilkan      Luas Area Belum Menghasilkan
         Immature Area                  Immature Area                     Immature Area




 1.060,28                        266,37                             793,91
     Hektare | Hectares             Hektare | Hectares                Hektare | Hectares



    Luas Area Menghasilkan         Luas Area Menghasilkan            Luas Area Menghasilkan
          Mature Area                    Mature Area                       Mature Area




81.405,44                       68.900,69                      12.504,76
     Hektare | Hectares             Hektare | Hectares                Hektare | Hectares



           Lain-lain                      Lain-lain                         Lain-lain
            Others                         Others                            Others




33.415,08                       24.367,24                        9.047,84
     Hektare | Hectares             Hektare | Hectares                Hektare | Hectares




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       Kinerja Perkebunan (Hulu)                                               Performance of Plantations Segment (Upstream)

       Perseroan dan Anak Perusahaan mengelola perkebunan kelapa               The Company and Subsidiaries manage palm oil plantations to
       sawit sehingga menghasilkan produk tandan buah segar.                   produce fresh fruit bunches. Furthermore, fresh fruit bunches
       Selanjutnya, tandan buah segar diolah menjadi produk-produk             are processed into other products to increase the added value of
       lainnya untuk meningkatkan nilai tambah produk yaitu inti sawit,        products, namely palm kernel, crude palm oil and palm oil kernel.
       minyak kelapa sawit, dan minyak inti sawit.


                                                   Produk-Produk Segmen Hulu Perseroan
                                                 The Company’s Upstream Segment Products




                         Tandan Buah Segar            Inti Sawit               Minyak Kelapa Sawit              Minyak Inti Sawit
                          Fresh Fruit Bunch          Palm Kernel                  Crude Palm Oil                 Palm Kernel Oil



       Pada tahun 2023 volume produksi produk sawit yang paling tinggi         In 2023, the highest production volume of palm products was
       yaitu tandan buah segar yang mencapai 2.345.131 metrik ton,             fresh fruit bunches which reached 2,345,131 metric tons, while
       sedangkan yang terendah yaitu minyak inti sawit. Berikut tabel          the lowest was palm kernel oil. The following table shows the
       produksi produk segmen perkebunan (hulu):                               production of plantation segment products (upstream):


        Tabel Volume Produksi Produk Sawit Tahun 2022-2023 (metrik ton)
        Table of Production Volume of Palm Oil Products for 2022-2023 (metric tons)
                            Nama Produk                                                                 Kenaikan/Penurunan | Increase/Decrease
                                                            2023                     2022
                            Product Name                                                                    Nominal                  %
        Minyak Kelapa Sawit | Crude Palm Oil                        518.819                  508.094                  10.724                2,11%
        Inti Sawit | Palm Kernel                                     99.082                   97.019                  2.063                 2,13%
        Minyak Inti Sawit | Palm Kernel Oil                          22.327                   18.726                  3.601                19,23%
        Tandan Buah Segar dari Perkebunan Inti
                                                                   1.723.170                1.862.561             (139.391)                (7,48)%
        Fresh Fruit Bunch from Nucleus Estate



       Analisis Kinerja Segmen                                                 Analysis of Business Segment

       Minyak Kelapa Sawit                                                     Crude Palm Oil Performance

       Produk utama Perseroan yaitu minyak kelapa sawit atau Crude             The Company’s main product is Crude Palm Oil (CPO). The
       Palm Oil (CPO). Perseroan merupakan salah satu produsen CPO             Company is one of the largest private CPO producers in Central
       swasta terbesar di provinsi Kalimantan Tengah. CPO diproduksi           Kalimantan province. CPO is produced from fresh fruit bunches
       dari tandan buah segar (TBS) yang dihasilkan dari kebun kelapa          (FFB) provided by the Company’s oil palm plantations. CPO is
       sawit Perseroan. CPO diekstraksi dari mesocarp yang dipisahkan          extracted from the mesocarp separated from the palm fruit. CPO
       dari buah kelapa sawit. Produksi CPO dilakukan di 8 (delapan)           production is carried out in the Company’s 8 (eight) Palm Oil Mills
       Pabrik Kelapa Sawit (PKS) Perseroan yang berada di dalam                (PKS) located within oil palm plantations.
       perkebunan kelapa sawit.


       Produksi CPO tahun 2023 mencapai 518.819 metrik ton, atau               CPO production in 2023 reached 518,819 metric tons, increasing
       meningkat sebesar 2,11% dari hasil produksi tahun 2022 sebesar          2.11% from the production in 2022 of 508,100 metric tons. The
       508.100 metrik ton. Perseroan mencatat Oil Extraction Rate              Company recorded that the Oil Extraction Rate (OER) in 2023
       (OER) tahun 2023 mencapai 22,12% sedikit turun sebesar 0,81%            reached 22.12%, slightly decreasing 0.81% from the OER in 2022
       dibandingkan OER tahun 2022 yang tercatat 22,30%.                       which was recorded at 22.30%.




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Inti Sawit                                                            Palm Kernel

Inti sawit atau Palm Kernel (PK) berasal dari biji kelapa sawit       Palm kernel (PK) is generated from palm oil seeds which are
yang dikumpulkan pada saat proses pengolahan. Produksi                collected during the processing process. PK production increased
PK meningkat 2,13% menjadi 99.082 metrik ton tahun 2023               2.13% to 99,082 metric tons in 2023 from the production in 2022 of
dibandingkan tahun 2022 sebesar 97.019 metrik ton. PK umumnya         97,019 metric tons. PK is generally processed to become a useful
diproses untuk menjadi sumber makanan yang bermanfaat.                food source.


Minyak Inti Sawit                                                     Palm Kernel Oil

Minyak Inti Sawit atau Palm Kernel Oil (PKO) merupakan produk         Palm Kernel Oil (PKO) is a palm derivative product. The Company
turunan sawit. Perseroan memiliki kapasitas dan kapabilitas untuk     has the capacity and capability to produce palm kernel oil by
memproduksi minyak inti sawit dengan cara mengekstrak biji kelapa     extracting palm kernels at Kernel Crushing Plant (KCP).
sawit di pabrik pengolahan inti sawit, Kernel Crushing Plant (KCP).


Produksi PKO Perseroan tercatat meningkat sebesar 19,23% dari         The Company’s PKO production was recorded to have increased
18.726 metrik ton pada tahun 2022 menjadi 22.327 metrik ton.          of 19.23% from 18,726 metric tons in 2022 to 22,327 metric tons.


Tandan Buah Segar                                                     Fresh Fruit Bunches (FFB)

Perseroan berhasil memproduksi TBS dari perkebunan inti               The Company successfully produced 1,723,170 metric tons of
sebanyak 1.723.170 metrik ton pada tahun 2023 turun sebesar           FFB from nucleus estate in 2023, decreasing 7.48% from the FFB
7,48% dibandingkan produksi TBS tahun 2022 sebanyak 1.862.561         production in 2022 of 1,862,561 metric tons. This decrease was
metrik ton. Penurunan ini disebabkan oleh berkurangnya lama           caused by a reduction in the length of (effective) sunlight due to
penyinaran matahari (efektif) dikarenakan bulan basah panjang         the long wet months so that the process of fruit development and
yang dapat mengganggu proses perkembangan buah, proses                plant metabolism as well as the absorption of nutrients by plants
metabolisme tanaman dan penyerapan hara oleh tanaman.                 were disrupted.


Profitabilitas Segmen Perkebunan                                      Plantations Segment Profitability

Segmen perkebunan dengan produk yang dihasilkannya                    Plantations segment with its product have contributed 5.89%
menyumbang 5,89% atau Rp630 miliar dari total pendapatan              or Rp630 billion of the Company’s total revenue in 2023. The
Perseroan tahun 2023. Profitabilitas segmen perkebunan secara         profitability of the plantations segment in detail can be seen in the
detail dapat dilihat pada tabel berikut ini:                          following table:


                                                                                                                     dalam Rp-Miliar | in Rp-Billion

                               Uraian                                                                                       Perubahan (%)
                                                                            2023                    2022
                             Description                                                                                     Change (%)
Penjualan
                                                                                    10.703                  11.240                                 (5)
Sales
Beban Pokok Penjualan
                                                                                     7.904                   6.396                                  14
Cost of Sales
Laba Kotor
                                                                                     2.799                   4.304                                (35)
Gross Profit
Margin laba kotor
                                                                                      26%                     38%                                 (32)
Gross profit margin




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       Kinerja Biogas
                                                                                                  Biogas Performance
       Perseroan mengembangkan Pembangkit Listrik Tenaga Biomassa
       (PLTBM) atau pabrik Biogas yang menghasilkan bahan bakar                                   The Company is developing a Biomass Power Plant (PLTBM) or
       alternatif lingkungan. Pabrik Biogas menghasilkan tenaga listrik                           Biogas Plant which produces environmental alternative fuels.
       berkapasitas 1,5 Mega Watt dan 900 Mega Watt yang berasal                                  The Biogas Plant produces electricity with a capacity of 1.5 Mega
       dari pengolahan limbah sawit. Listrik ramah lingkungan tersebut                            Watts and 900 Mega Watts from processing palm oil waste. This
       kemudian dialirkan ke rumah-rumah yang berada di kawasan                                   environmentally friendly electricity is then distributed to homes
       pemukiman karyawan di sekitar lokasi usaha Perseroan selain juga                           in employee residential areas around the Company’s operational
       digunakan untuk mendukung kegiatan operasional Perseroan.                                  areas and utilized to support the Company’s operational activities.



       SEGMEN HILIR (DOWNSTREAM)
                                                                                                  DOWNSTREAM SEGMENT
       Pada segmen hilir atau downstream, Perseroan melakukan
       kegiatan usaha dengan memproduksi dan menjual produk                                       In downstram segment, the Company engages in producing and
       turunan minyak sawit seperti Refined Bleached Deodorized Palm                              selling palm oil derivative products such as Refined Bleached
       Oil (RBDPO), Palm Fatty Acid Distillate (PFAD), Olein, Stearin, Crude                      Deodorized Palm Oil (RBDPO), Palm Fatty Acid Distillate (PFAD),
       Palm Kernel Oil (CPKO) dan Palm Kernel Expeller (PKE).                                     Olein, Stearin, Crude Palm Kernel Oil (CPKO) and Palm Kernel
                                                                                                  Expeller (PKE).
       Dalam pengolahan CPO, Perseroan didukung oleh pabrik refinery
       dan fraksinasi yang masing-masing memiliki total kapasitas                                 In CPO processing, Company is supported by refinery and
       produksi sebesar 2.500 ton CPO per hari atau 850.000 ton CPO                               fractionation plants, each of which has a total production capacity
       per tahun dan 2.500 ton RBDPO per hari atau 850.000 MT RBDPO                               of 2,500 tons of CPO per day or 850,000 tons of CPO per year and
       per tahun.                                                                                 2,500 tons of RBDPO per day or 850,000 MT of RBDPO per year.


       Selain itu, Perseroan juga memiliki pabrik kernel crushing dengan
       total kapasitas sebesar 600 MT kernel per hari atau 192.000 MT                             In addition, the Company also has a kernel crushing plant with a
       kernel per tahun serta 1 tank farm untuk kebutuhan penyimpanan                             total capacity of 600 MT kernel per day or 192,000 MT kernel per
       bahan baku dan hasil produk dari pabrik refinery dan fraksinasi.                           year and 1 tank farm for the storage of raw materials and products
                                                                                                  from the refinery and fractionation plants.
       Tabel berikut menunjukkan kapasitas dari masing- masing pabrik
       Perseroan:                                                                                 The following table shows the capacity of each of the Company’s
                                                                                                  plants:
                                           Keterangan | Description                                                   2023                    2022                 2021
        Refinery
        Kapasitas CPO (ton per hari) 1) Yield: | CPO Capacity (tons per day) 1) Yields:                                       2.500                      2.500             2.500
        - RBDPO                                                                                                              95,76%                  95,58%               95,90%
        - PFAD                                                                                                                3,76%                      3,97%             3,65%
        - Utilisasi | Utilization                                                                                            91,77%                  63,44%               64,57%
        Fraksinasi | Fractionation
        Kapasitas RBDPO (ton per hari) 1) Yield: | RBDPO Capacity (tons per day) 1) Yields:                                   2.500                      2.500             2.500
        - Olein                                                                                                              81,01%                  82,34%               80,66%
        - Stearin                                                                                                            18,99%                  17,66%               19,34%
        - Utilisasi | Utilization                                                                                            84,95%                  54,14%               43,81%
        Catatan | Note:
        1) Kapasitas CPO adalah kemampuan pabrik untuk mengolah CPO per hari. | CPO capacity is the ability of a plant to process CPO per day.
        2) Kapasitas RBDPO adalah kemampuan pabrik untuk mengolah RBDPO per hari. | RBDPO capacity is the ability of a plant to process RBDPO per day.




        Tank Farm

        Keterangan | Description                                                                                                                                 Volume
        Kapasitas Penyimpanan CPO (ton) | CPO Storage Capacity (tons)                                                                                            28.000
        Kapasitas Penyimpanan RBDPO (ton) | RBDPO Storage Capacity (tons)                                                                                        17.000
        Kapasitas Penyimpanan PFAD (ton) | PFAD Storage Capacity (tons)                                                                                          11.000
        Kapasitas Penyimpanan Olein (ton) | Olein Storage Capacity (tons)                                                                                        28.000
        Kapasitas Penyimpanan Stearin (ton) | Stearin Storage Capacity (tons)                                                                                    12.000




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Pabrik Kernel Crushing
Kernel Crushing Mills
Keterangan | Description                                                                                           2023                      2022                        2021
Refinery
Kapasitas Kernel (ton per hari) 1) | Kernel Capacity (tons per day) 1)                                                        600                       600                          600
Kapasitas Penyimpanan Kernel (ton) | Kernel Storage Capacity (tons)                                                         2.500                      2.500                       2.500
Kapasitas Penyimpanan CPKO (ton) | CPKOl Storage Capacity (tons)                                                            4.000                      4.000                       4.000
Kapasitas Penyimpanan PKE (ton) | PKE Storage Capacity (tons)                                                             14.000                      14.000                      14.000
Yield
CPKO                                                                                                                      40,40%                      43,50%                     43,50%
PKE                                                                                                                       55,67%                      53,00%                     53,00%
Utilisasi | Utilization                                                                                                   35,81%                      34,36%                     10,49%
Catatan | Note:
1) Kapasitas Kernel adalah kemampuan pabrik untuk mengolah Kernel per hari. | Kernel Capacity is the plant’s ability to process the Kernel per day.
2) Pabrik masih dalam tahap commissioning. | The plant is still in the commissioning stage.




Kinerja Segmen Hilir (Downstream)
                                                                                              Performance of Downstream Segment
Selain memproduksi hasil perkebunan, Perseroan juga
memproduksi produk turunan kelapa sawit dari pabrik refinery,                                 In addition to produce plantation products, the Company also
fractionation dan kernel crushing. Berikut penjelasan dari masing-                            produces palm oil derivative products from refinery, fractionation
masing produk di segmen hilir:                                                                and kernel crushing mills. The following is an explanation of each
                                                                                              product in the downstream segment:
Refinery
                                                                                              Refinery
Dalam industri refinery di Kalimantan, kapasitas produksi
Perseroan memberikan kontribusi sebesar 6% dari seluruh                                       In the refinery industry in Kalimantan, the Company’s production
perusahaan refinery yang berada di Kalimantan. Kapasitas refinery                             capacity composes 6% of all refinery companies in Kalimantan.
CPO Perseroan sebesar 2.500 ton/hari, di mana kapasitas refinery                              The Company’s CPO refinery capacity is 2,500 tons/day, while
CPO perusahaan di seluruh Kalimantan mencapai 41.700 ton/hari.                                the combined CPO refinery capacity of all companies across
                                                                                              Kalimantan reaches 41,700 tons/day.
Dari refinery, Perseroan menghasilkan produk RBDPO dan PFAD,
berikut kinerja produksi refinery:                                                            From refinery, the Company produces RBDPO and PFAD products,
                                                                                              the following is the refinery production performance:
Tabel Produksi Refinery
Table of Refinery Production
Keterangan | Description                                                                               2023                          2022                             2021
Refinery
RBDPO (MT)                                                                                                     746.929                       548.556                            565.076
PFAD (MT)                                                                                                        29.253                        27.364                             21.523
Total (MT)                                                                                                     776.182                       575.920                           586.598

Di tahun 2023, produksi pabrik refinery meningkat 35% dari 575.920
MT di tahun lalu menjadi 776.182 MT.                                                          In 2023, refinery production was increased by 35% from 575,920
                                                                                              MT in last year to 776,182 MT.
Fraksinasi
                                                                                              Fractionation
Selain refinery, kegiatan usaha utama Perseroan yang lain adalah
pemisahan/fraksinasi minyak murni kelapa sawit, minyak mentah                                 In addition to refinery, the Company’s main activity is fractionation
kelapa sawit, minyak mentah inti kelapa sawit dan minyak murni                                of palm oil, crude palm oil, crude palm kernel oil and palm kernel
inti kelapa sawit.                                                                            oil.


Dari fraksinasi, Perseroan menghasilkan produk RBDPL IV 56,
RBDPS (IV 56), RBDPL IV 57, RBDPS (IV 57), RBDPL IV 58, dan                                   From fractionation, the Company produces RBDPL IV 56, RBDPS
RBDPS (IV 58). Berikut kinerja produksi fraksinasi:                                           (IV 56), RBDPL IV 57, RBDPS (IV 57), RBDPL IV 58, and RBDPS (IV 58).
                                                                                              The following is the farctionation production performance:




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        Tabel Produksi Fraksinasi
        Table of Fractionation Production
        Keterangan | Description                                                  2023                   2022                          2021
        Fraksinasi | Fractionation
        RBDPL IV 56 (MT)                                                                 462.024                365.815                        234.835
        RBDPS (IV 56) (MT)                                                               101.069                 82.174                          51.126
        RBDPL IV 57 (MT)                                                                  58.203                  6.470                         34.067
        RBDPS (IV 57) (MT)                                                                15.318                  1.773                           9.118
        RBDPL IV 58 (MT)                                                                  66.738                 28.702                         53.005
        RBDPS (IV 58) (MT)                                                                20.747                  9.162                          17.069
        Total (MT)                                                                       724.099                494.094                        399.759


       Di tahun 2023, produksi pabrik fraksinasi meningkat 47% menjadi
       724.099 MT dari 494.094 MT di tahun lalu.                            In 2023, fractionation production was increased by 47% to 724,099


       Kernel Crushing
                                                                            Kernel Crushing
       Perseroan juga memiliki pabrik kernel crushing dengan total
       kapasitas sebesar 600 MT kernel per hari atau 192.000 MT kernel      The Company also has a kernel crushing plant with a total capacity
       per tahun serta 1 tank farm untuk kebutuhan penyimpanan bahan        of 600 MT of kernels per day or 192,000 MT of kernels per year as
       baku dan hasil produk dari pabrik refinery dan fraksinasi.           well as 1 tank farm for the storage of raw materials and products
                                                                            from refinery and fractionation plants.
        Tabel Produksi Kernel Crushing
        Table of Kernel Crushing Production
        Keterangan | Description                                                  2023                   2022                          2021
        Kernel Crushing
        CPKO (MT)                                                                         24.998                 30.765                           9.896
        PKE (MT)                                                                          34.448                 41.560                          12.253
        Total (MT)                                                                        59.446                 72.325                          22.149

       Di tahun 2023, produksi pabrik kernel crushing menurun 18% dari
       produksi tahun lalu yang mencapai 72.325 MT menjadi 59.446 MT.       In 2023, kernel crushing production was decreased by 18% from
                                                                            last year production was reached 72,325 MT to 59,446 MT.


       Profitabilitas Segmen Hilir
                                                                            Downstream Segment Profitability
       Segmen hilir dengan produk yang dihasilkannya menyumbang
       90,7% atau Rp9.703 miliar dari total pendapatan Perseroan tahun      Downstream segment with its product have contributed 90.7%
       2023. Profitabilitas segmen hilir secara detail dapat dilihat pada   or Rp9,703 billion of the Company’s total revenue in 2023. The
       tabel berikut ini:                                                   profitability of the downstream segment in detail can be seen in
                                                                            the following table:
                                                                                                                          dalam Rp-Miliar | in Rp-Billion

                                           Uraian                                                                                Perubahan (%)
                                                                                  2023                   2022
                                         Description                                                                              Change (%)
        Penjualan
                                                                                          10.319                  9.619                                7
        Sales
        Beban Pokok Penjualan
                                                                                           9.005                  8.128                               10
        Cost of Sales
        Laba Kotor
                                                                                           1.315                  1.491                              (9)
        Gross Profit
        Margin laba kotor
                                                                                           12,7%                 15,50%                             (16)
        Gross profit margin




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                                                                                                                             MANAGEMENT DISCUSSION AND ANALYSIS   04

TINJAUAN KEUANGAN
FINANCIAL REVIEW

Standar Penyajian Informasi dan Kesesuaian Terhadap                         Standards for the Presentation of Information and
SAK                                                                         Compliance with the Financial Accounting Standards

Analisis dan pembahasan kinerja keuangan Laporan Tahunan                    Analysis and discussion of the financial performance of the 2023
2023 merujuk kepada Laporan Keuangan Konsolidasian Perseroan                Annual Report refer to the Company’s Consolidated Financial
untuk tahun 31 Desember 2023 dan 31 Desember 2022 yang telah                Statements for December 31, 2023, and December 31, 2022, which
diaudit, masing-masing oleh Kantor Akuntan Pubik Purwantono,                have been audited, respectively, by the Accounting Firm Public
Sungkoro & Surja dengan opini wajar dalam semua hal yang                    Purwantono, Sungkoro & Surja with a fair opinion in all material
material.                                                                   respects.


Penyajian dan pengungkapan Laporan Keuangan Konsolidasian                   The presentation and disclosure of the Company’s Consolidated
Perseroan ini disusun berdasarkan Standar Akuntansi Keuangan                Financial Statements are prepared based on the Financial
(SAK) yang berlaku di Indonesia, terdiri dari Pernyataan Standar            Accounting Standards (SAK) applicable in Indonesia, consisting
Akuntansi Keuangan (PSAK) dan Interpretasi Standar Akuntansi                of Statements of Financial Accounting Standards (PSAK) and
Keuangan (ISAK) yang dikeluarkan oleh Dewan Standar Akuntansi               Interpretations of Financial Accounting Standards (ISAK) issued
Keuangan Ikatan Akuntan Indonesia dan Peraturan No. VIII.G.7                by the Financial Accounting Standards Board of the Indonesian
tentang Penyajian dan Pengungkapan Laporan Keuangan Emiten                  Institute of Accountants and Regulations No. VIII.G.7 concerning
atau Perusahaan Publik yang diterbitkan oleh Otoritas Jasa                  Presentation and Disclosure of Financial Statements of Issuers or
Keuangan.                                                                   Public Companies issued by the Financial Services Authority.



Posisi Keuangan Konsolidasian                                               Consolidated Financial Position

                                                                                                                  Kenaikan (Penurunan)
                                                                       2023                 2022*                  Increase (Decrease)
Uraian                                                              (Rp-ribu)             (Rp-ribu)              Selisih
Description                                                       (Rp-thousand)         (Rp-thousand)          (Rp-ribu)                      (%)
                                                                                                             (Rp-thousand)
                                                                          (1)                (2)                (3=1-2)                    (4=3/2)
Aset | Assets

   Aset Lancar | Current Assets                                         5.028.227.209      4.638.955.633          389.271.576                         8,39%
   Aset Tidak Lancar | Non-Current Assets                               6.782.217.424      6.497.954.167          284.263.257                         4,37%
Jumlah Aset | Total Assets                                             11.810.444.633     11.136.909.800         673.534.833                         6,05%
Liabilitas | Liabilities
   Liabilitas Jangka Pendek | Current Liabilities                       4.754.859.437      4.172.292.592         582.566.845                        13,96%
   Liabilitas Jangka Panjang | Non-Current Liabilities                  5.065.623.136       4.920.113.317         145.509.819                         2,96%
Jumlah Liabilitas | Total Liabilities                                  9.820.482.573      9.092.405.909          728.076.664                         8,01%
Ekuitas | Equity                                                       1.989.962.060       2.044.503.891         (54.541.831)                       (2,67%)
Jumlah Liabilitas dan Ekuitas | Total Liabilities and Equity           11.810.444.633     11.136.909.800         673.534.833                         6,05%



Aset                                                                        Assets

Total aset Perseroan mengalami peningkatan sebesar 6,05% dari               The Company’s total assets increased by 6.05% from Rp 11.14
Rp11,14 triliun di tahun 2022 menjadi Rp11,81 triliun di tahun 2023.        trillion in 2022 to Rp11.81 trillion in 2023. The increase in the
Kenaikan pada total aset Perseroan dipicu oleh kenaikan aset                Company’s total assets was triggered by increase in current
lancar sebesar 8,39% dan aset tidak lancar sebesar 4,37%.                   assets by 8.39% and non-current assets by 4.37%.


Aset lancar mengalami peningkatan sebesar 8,39% dari Rp4,64                 The current assets increased by 8.39% from Rp4.64 trillion in 2022
triliun di tahun 2022 menjadi Rp5,03 triliun di tahun 2023.                 to Rp5.03 trillion in 2023. The increase was mainly due to by an
Peningkatan tersebut terutama disebabkan oleh kenaikan                      increase in time deposits with an age of more than 3 months
deposito berjangka dengan usia lebih dari 3 bulan sebesar Rp888             amounting to Rp888 billion.
miliar.




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       Aset tidak lancar mengalami kenaikan sebesar 4,37% dari Rp6,50              The non-current assets increased by 4.37% from Rp6.50.09 trillion
       triliun di tahun 2022 menjadi Rp6,78 triliun di tahun 2023. Kenaikan        in 2022 to Rp6.78 trillion in 2023. The increase in non-current
       aset tidak lancar terutama disebabkan oleh kenaikan aset hak                assets was mainly due to by an increase in right-of-use assets for
       guna atas sewa gedung kantor, kendaraan, dan alat berat sebesar             office building, vehicle and heavy equipment rentals amounting to
       Rp90 miliar. Selain itu, kenaikan cukup besar juga ada di biaya             Rp90 billion. Apart from that, there was also quite a large increase
       pengembangan kebun plasma sebesar Rp61 miliar.                              in the costs of developing plasma plantations amounting to Rp61
                                                                                   billion.


       Liabilitas                                                                  Liabilities

       Total liabilitas Perseroan tercatat meningkat sebesar 8,01% dari            The Company’s total liabilities increased by 8.01% from Rp9.09
       Rp9,09 triliun di tahun 2022 menjadi Rp9,82 triliun di tahun 2023.          trillion in 2022 to Rp9.82 trillion in 2023. The increase in total
       Kenaikan total liabilitas dikarenakan kenaikan liabilitas jangka            liabilities was due to an increase in long-term liabilities of 2.96%
       panjang sebesar 2,96% dan kenaikan liabilitas jangka pendek                 and an increase in short-term liabilities of 13.96%.
       sebesar 13,96%.


       Sementara itu, peningkatan liabilitas jangka panjang sebesar                Meanwhile, the increase in non-current liabilities of 2.96% from
       2,96% dari Rp4,92 triliun di tahun 2022 menjadi Rp5,07 di tahun             Rp4.92 trillion in 2022 to Rp5.07 in 2023 mostly due to an increase
       2023 sebagian besar disebabkan oleh kenaikan liabilitas sewa                in office building, vehicle and heavy equipment rental liabilities of
       gedung kantor, kendaraan, dan alat berat sebesar Rp54 miliar.               Rp54 billion.


       Liablitas jangka pendek Perseroan tercatat meningkat sebesar                The Company’s current liabilities increased by 13.96% from Rp4.17
       13,96% dari Rp4,17 triliun di tahun 2022, menjadi Rp4,75 triliun di         trillion in 2022 to Rp4.75 trillion in 2023. The increase occurred
       tahun 2023. Peningkatan terjadi terutama disebabkan adanya                  mainly due to trade payables for TBS purchases during 2023
       utang usaha atas pembelian TBS selama tahun 2023 sebesar                    amount to Rp10 billion.
       Rp103 miliar.


       Ekuitas                                                                     Equity

       Ekuitas Perseroan di tahun 2023 menurun sebesar 2,67% menjadi               The Company’s equity in 2023 decreased by 2.67% to Rp1.99 trillion
       Rp1,99 triliun di tahun 2023 dari Rp2,04 triliun di tahun 2022.             in 2023 from Rp2.04 trillion in 2022. This decrease was driven by
       Penurunan tersebut didorong oleha danya pembagian deviden                   the distribution of dividends in 2022 amounting to Rp11 billion.
       tahun 2022 sebesar Rp711 miliar.



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

                                                                                                                           Kenaikan (Penurunan)
                                                                              2023                    2022                  Increase (Decrease)
        Uraian                                                             (Rp-ribu)               (Rp-ribu)             Selisih
        Description                                                      (Rp-thousand)           (Rp-thousand)         (Rp-ribu)             (%)
                                                                                                                     (Rp-thousand)
                                                                                (1)                   (2)               (3=1-2)            (4=3/2)
        Pendapatan dari kontrak dengan pelanggan
                                                                              10.703.411.845        11.240.219.016       (536.807.171)                (4,78)
        Revenue from contracts with customers
        Beban Pokok Penjualan
                                                                              7.904.355.885         6.935.789.797        968.566.088                  13,96
        Cost of Goods Sold
        Laba Bruto
                                                                              2.799.055.960         4.304.429.219      (1.505.373.259)             (34,97)
        Gross Profit
        Beban Penjualan
                                                                                855.378.199         1.054.835.672        (199.457.473)               (18,91)
        Selling Expenses
        Beban Umum dan Administrasi
                                                                                836.073.334           767.982.550          68.090.784                  8,87
        General and Administrative Expenses
        (Kerugian)/keuntungan atas nilai wajar aset biologis
                                                                                 43.468.323          (136.213.040)        179.681.363              (131,91)
        (loss)/profit on fair value of biological assets
        Pendapat lain-lain, neto
                                                                                 45.210.750           280.457.303        (235.246.553)             (83,88)
        Other Revenues, Netto
        Laba Usaha
                                                                              1.196.283.500         2.625.855.260      (1.429.571.760)             (54,44)
        Operating Profit
        Laba Sebelum Beban Pajak Penghasilan
                                                                                552.135.147         1.964.686.167       (1.412.551.020)            (71,90)
        Profit Before Tax



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                                                                                                                         MANAGEMENT DISCUSSION AND ANALYSIS   04

                                                                                                               Kenaikan (Penurunan)
                                                                      2023               2022                   Increase (Decrease)
Uraian                                                             (Rp-ribu)          (Rp-ribu)              Selisih
Description                                                      (Rp-thousand)      (Rp-thousand)          (Rp-ribu)                      (%)
                                                                                                         (Rp-thousand)
                                                                      (1)                (2)                (3=1-2)                    (4=3/2)
Laba Tahun Berjalan
                                                                      344.015.625      1.474.921.840       (1.130.906.215)                      (76,68)
Profit for the Year
Efek penyesuaian proforma
                                                                      174.298.439        373.197.138        (198.898.699)                        (53,30)
Effect of proforma adjustment
Laba Tahun Berjalan setelah efek penyesuaian proforma
                                                                      518.314.064      1.848.118.978       (1.329.804.914)                       (71,95)
Profit for the Year after effect of proforma adjustment
Laba Komprehensif Tahun Berjalan
                                                                      515.632.719      1.865.989.227       (1.350.356.508)                       (72,37)
Comprehensive Income for the Year
Efek penyesuaian proforma atas penghasilan (rugi) komprehensif
lain
                                                                       11.017.567        (43.237.334)          54.254.901                       (125,48)
Effect of proforma adjustment from other comprehensive income
(loss)
Total Laba Komprehensif Tahun Berjalan setelah penyesuaian
proforma
                                                                     526.650.286        1.822.751.893      (1.296.101.607)                        (71,11)
Total Comprehensive Income for the Year after proforma
adjustment
Laba Tahun Berjalan diatribusikan kepada:
Profit for the Year Attributable to:
   Pemilik entitas Induk
                                                                      512.255.637      1.837.375.968        (1.325.120.331)                      (72,12)
   Owners of the Parent Entity
   Kepentingan Non-Pengendali
                                                                        6.058.427         10.743.010           (4.684.583)                       (43,61)
   Non-Controlling Interests
Laba Komprehensif Tahun Berjalan diatribusikan kepada:
Comprehensive Income for the Year Attributable to:
   Pemilik entitas Induk
                                                                      521.065.768      1.814.036.666       (1.292.970.898)                       (71,28)
   Owners of the Parent Entity
   Kepentingan Non-Pengendali
                                                                        5.584.518           8.715.227          (3.130.709)                       (35,92)
   Non-Controlling Interests
Laba per saham (nilai penuh)
                                                                            53,78              192,90                 (139)                      (72,12)
Earnings per share (full amount)



Pendapatan                                                              Revenue

Sejak Perseroan mengakuisi CBUT, maka pendapatan Perseroan              Since the Company acquired CBUT, the Company’s revenue
berasal dari segmen usaha perkebunan yang menghasilkan                  comes from plantations segment which produces products and
produk dan jasa minyak kelapa sawit, inti sawit, minyak inti            services of crude palm oil, palm kernel, palm kernel oil and fresh
sawit, dan tandan buah segar (TBS) dan segmen minyak nabati             fruit bunches (FFB) and Edible Oil segment produces palm oil
yang menghasilkan produk turunan kelapa sawit. Di tahun 2023,           derivative products. In 2023, the Company managed to record
Perseroan berhasil membukukan penjualan sebesar Rp10,70                 sales of Rp10.70 trillion, decreasing Rp0.54 trillion or 4.78% from
triliun, menurun sebesar Rp0,54 triliun atau sebesar 4,78%              the previous year which was recorded at Rp11.24 trillion. This
dibandingkan tahun sebelumnya yang tercatat sebesar Rp11,24             decrease was caused by a decrease in the average selling price of
triliun. Penurunan ini disebabkan oleh penurunan harga jual rata-       commodities during 2023 compared to 2022 due to the downward
rata komoditas selama tahun 2023 dibandingkan dengan tahun              trend in the average CPO price during 2023.
2022 karena trend penurunan rata-rata harga CPO selama tahun
2023.


Beban Pokok Penjualan                                                   Cost of Goods Sold

Beban pokok penjualan di tahun 2023 mengalami kenaikan                  Cost of goods sold in 2023 increased by 13.96% to Rp7.90 trillion
sebesar 13,96% menjadi Rp7,90 triliun dari Rp6,94 triliun di tahun      from Rp6.94 trillion in the previous year. This was due to mostly
sebelumnya. Hal ini sebagian besar disebabkan oleh kenaikan             due to an increase in the quantity of raw material purchases for
kuantitas pembelian bahan baku Pabrik Kelapa Sawit dan Refinery.        Palm Oil Mills and Refineries.




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       Laba                                                                 Profit

       Laba bruto Perseroan tercatat menurun sebesar 34,97% menjadi         The Company’s gross profit was recorded to have decreased
       Rp2,80 triliun di tahun 2023, dari Rp4,30 triliun di tahun 2022.     by 34.97% to Rp2.80 trillion in 2023, from Rp4.30 trillion in 2022.
       Sementara itu, laba usaha ikut menurun sebesar 54,44% dari           Meanwhile, operating profit also decreased by 54.44% from
       Rp2,63 triliun di tahun 2022 menjadi Rp1,20 triliun di tahun 2023.   Rp2.63 trillion in 2022 to Rp1.20 trillion in 2023. A decrease was
       Penurunan juga tercatat pada total laba komprehensif tahun           also recorded in the total comprehensive profit for the current
       berjalan setelah penyesuaian proforma yang mencapai 71,11%           year after proform adjustment which reached 71.11% from Rp1.82
       dari Rp1,82 triliun di tahun 2022, menjadi Rp0,53 triliun di tahun   trillion in 2022 to Rp0.53 trillion in 2023, thereby driving a decrease
       2023, sehingga mendorong penurunan laba tahun berjalan               in profit for the year attributable to owners parent entity by 72.12%
       yang diatribusikan kepada pemilik entitas induk sebesar 72,12%       to Rp0.51 trillion in 2023 from Rp1.84 trillion in 2022. Meanwhile,
       menjadi Rp0,51 triliun di tahun 2023 dari Rp1,84 triliun di tahun    profit for the year attributable to non-controlling interests
       2022. Sedangkan laba tahun berjalan yang diatribusikan kepada        decreased by 43.61% from Rp10.74 billion to Rp6.06 billion.
       kepentingan non-pengendali mengalami penurunan sebesar
       43,61% dari Rp10,74 miliar menjadi Rp6,06 miliar.


       Beban Operasional                                                    Operating Expenses

       Beban operasional Perseroan terdiri dari beban penjualan serta       The Company’s operating expenses consist of selling expenses
       beban umum dan administrasi. Secara keseluruhan beban                and general and administrative expenses. Overall, the Company’s
       operasional Perseroan mengalami penurunan dari Rp1,82 triliun        operating expenses decreased from Rp1.82 trillion in 2022 to
       di tahun 2022 menjadi Rp1,69 triliun atau menurun sebesar            Rp1.69 trillion, decreasing 7.21% mostly due to a decrease in sales
       7,21% yang sebagian besar disebabkan oleh penurunan beban            expenses due to a decrease in export taxes and levy during 2023
       penjualan karena penurunan pajak ekspor dan levy selama tahun        due to a decrease in export tax rates and levy.
       2023 akibat dari penurunan tarif pajak ekspor dan levy.




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                                                                                                                              MANAGEMENT DISCUSSION AND ANALYSIS   04

Arus Kas Konsolidasian                                                       Consolidated Cash Flows

                                                                                                                    Kenaikan (Penurunan)
                                                                       2023                   2022                   Increase (Decrease)
Uraian                                                              (Rp-ribu)              (Rp-ribu)              Selisih
Description                                                       (Rp-thousand)          (Rp-thousand)          (Rp-ribu)                      (%)
                                                                                                              (Rp-thousand)
                                                                          (1)                 (2)                (3=1-2)                    (4=3/2)
Arus kas dari aktivitas operasi
                                                                          594.224.534       2.442.306.662       (1.848.082.128)                       (75,67)
Cash Flow from Operating Activities
Arus kas dari aktivitas investasi
                                                                       (1.450.898.070)       (710.338.678)       (740.559.392)                        104,25
Cash Flow from Investing Activities
Arus kas dari (digunakan untuk aktivitas pendanaan)
                                                                         287.988.963       (1.912.036.708)       2.200.025.671                       (115,06)
Cash Flow from (for Financing Activities)
Dampak Neto Perubahan Nilai Tukar atas Kas dan Setara Kas
Net Effect of Changes in Exchanges Rates on Cash and Cash                    (861.526)          1.957.858           (2.819.384)                         (144)
Equivalents
Kas dan Setara Kas Awal Tahun
                                                                        1.806.836.518       1.984.947.384         (178.110.866)                        (8,97)
Cash and Cash Equivalents at Beginning of Year
Kas dan Setara Kas Akhir Tahun
                                                                         1.237.290.419      1.806.836.518        (569.546.099)                        (31,52)
Cash and Cash Equivalents at End of Year



Kas dan Setara Kas                                                           Cash and Cash Equivalents

Nilai kas dan setara kas tercatat mengalami penurunan sebesar                The value of cash and cash equivalents was recorded to have
31,52% menjadi Rp1,24 triliun dari Rp1,81 triliun di tahun 2022.             decreased by 31.52% to Rp1.24 trillion from Rp1.81 trillion in 2022.
Penurunan tersebut terutama dikarenakan penurunan arus kas                   This decrease was mainly due to a decrease in cash flow from
dari aktivitas operasi sebesar 75,67%.                                       operating activities of 75.67%.

Arus Kas dari Aktivitas Operasi                                              Cash Flow from Operating Activities

Nilai arus kas bersih dari aktivitas operasi menurun sebesar 75,67%          The net cash flow from operating activities decreased by 75.67%
dari Rp2,44 triliunmenjadi Rp0,59 triliun di tahun 2023 dikarenakan          from Rp2.44 trillion to Rp0.59 trillion in 2023 due to increase in
adanya kenaikan dari pembayaran kas kepada pemasok yang                      cash payments to suppliers caused by increased purchases of
disebabkan oleh peningkatan pembelian bahan baku dan pupuk.                  raw materials and fertilizer.

Arus Kas yang Digunakan Untuk Aktivitas Investasi                            Cash Flow Used in Investing Activities

Sementara itu, arus kas bersih yang digunakan untuk aktivitas                Meanwhile, the net cash flow used in investing activities increased
investasi mengalami kenaikan sebesar 104,25% menjadi minus                   by 104.25% to minus Rp1.45 trillion from minus Rp0.71 trillion.
Rp1,45 triliun dari minus Rp0,71 triliun. Kenaikan tersebut terutama         The increase was mainly due to the placement of time deposits
disebabkan oleh adanya penempatan deposito berjangka sebesar                 amounting to Rp888 billion.
Rp888 miliar.


Arus Kas yang Diperoleh dari (Digunakan untuk) Aktivitas                     Cash Flow from (Used in) Financing Activities
Pendanaan

Nilai arus kas bersih dari (digunakan untuk) aktivitas pendanaan             The net cash flow from (used in) financing activities experienced a
mengalami pertumbuhan yang signifikan sebesar 115,06%                        significant growth of 115.06% to Rp0.29 trillion in 2023 from minus
menjadi Rp0,29 triliun di tahun 2023 dari minus Rp1,91 triliun. Hal          Rp1.91 trillion. This was mainly due to a decrease in dividend
ini terutama disebabkan oleh penurunan pembayaran dividen dan                payments and bond debt payments.
pembayaran utang obligasi.




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       KEMAMPUAN MEMBAYAR UTANG DAN TINGKAT KOLEKTIBILITAS PIUTANG
       ABILITY TO PAY DEBT AND RECEIVABLE COLLECTABILITY RATE




       Kemampuan Membayar Utang                                                Ability to Pay Debt

       Dalam memenuhi seluruh kewajiban Perseroan, baik jangka                 In fulfilling all of the Company’s obligations, both short term and
       pendek maupun jangka panjang dapat diukur melalui rasio                 long term can be measured through the liquidity ratio and solvency
       likuiditas dan rasio solvabilitas. Rasio likuiditas digunakan untuk     ratio. The liquidity ratio is used to measure the Company’s ability
       mengukur kemampuan Perseroan dalam melunasi kewajiban                   to pay off current liabilities, while the solvency ratio is used to
       jangka pendek, sedangkan rasio solvabilitas digunakan untuk             measure the Company’s ability to fulfill all of its obligations.
       mengukur kemampuan Perseroan dalam memenuhi seluruh
       kewajibannya.


       Rasio Likuiditas                                                        Liquidity Ratio

       Perseroan menggunakan rasio likuiditas dalam memenuhi                   The Company uses the liquidity ratio to meet maturing short-term
       kewajiban jangka pendek yang akan jatuh tempo yang diukur               obligations, which are measured using the current ratio, cash ratio,
       menggunakan rasio lancar (current ratio), rasio kas (cash ratio), dan   and quick ratio. The current ratio is a comparison between current
       rasio cepat (quick ratio). Rasio lancar merupakan perbandingan          assets and short-term liabilities, the cash ratio is calculated by
       antara aset lancar dengan liabilitas jangka pendek, rasio kas           comparing cash and cash equivalents with current liabilities, and
       dihitung melalui perbandingan antara kas dan setara kas dengan          the quick ratio is used to see the Company’s financial strength
       liabilitas jangka pendek, dan rasio cepat digunakan untuk melihat       or weakness in fulfilling its short-term obligations which is
       kekuatan atau kelemahan finansial Perseroan dalam memenuhi              calculated by subtracting the inventory from current assets, and
       kewajiban jangka pendeknya yang dihitung dengan mengurangi              the remainder is divided by current liabilities or current liabilities.
       persediaan dari aset lancar, dan sisanya dibagi dengan liabilitas
       lancar atau liabilitas jangka pendek.




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                                                                                                                              MANAGEMENT DISCUSSION AND ANALYSIS   04




Tabel Rasio Likuiditas 2023-2022
Table of Liquidity Ratio 2023-2022
                                                                                  2023                    2022                      Perubahan (%)
Keterangan | Description
                                                                                   (%)                     (%)                       Deviation *%)
Rasio Lancar
                                                                                  106                     111                               (5)
Current Ratio
Rasio Cepat
                                                                                  89                      90                                (1)
Quick Ratio



Per 31 Desember 2023, Rasio lancar Perseroan tercatat sebesar            As of December 31, 2023, the Company’s current ratio was recorded
106%, mengalami penurunan dari tahun sebelumnya yang sebesar             at 106%, decreasing from the previous year of 111%. Meanwhile,
111%. Sementara, rasio cepat Perseroan tercatat sebesar 89%,             the Company’s quick ratio was recorded at 89%, decreasing from
turun dari tahun sebelumnya sebesar 90%. Secara keseluruhan,             the previous year of 90%. Overall, the Company’s liquidity was
Likuiditas Perseroan cukup baik, hal ini terlihat dari rasio lancar      quite good. This is indicated by the current ratio which was still
yang masih memiliki angka lebih besar dari 100%.                         greater than 100%.


Rasio Solvabilitas                                                       Solvency

Rasio solvabilitas digunakan untuk mengukur kemampuan                    The solvency ratio is used to measure the Company’s ability to
Perseroan dalam mengukur kemampuan membayar kewajiban                    pay current and non-current liabilities. The solvency ratio consists
jangka pendek maupun jangka panjang. Rasio solvabilitas terdiri          of the ratio of interest bearing debt to equity, as well as the debt
dari rasio utang berbunga terhadap ekuitas, serta rasio liabilitas       to asset ratio.
terhadap jumlah aset.


Tabel Rasio Solvabilitas 2023-2022
Table of Solvency Ratio 2023-2022
                                                                                             2023               2022                   Perubahan (%)
Keterangan | Description
                                                                                         (kali | times)     (kali | times)              Deviation *%)
Rasio Jumlah Liabilitas terhadap Ekuitas
                                                                                             4,94                 4,45                      10,97%
Debt to Equity Ratio
Rasio Jumlah Liabilitas terhadap Aset
                                                                                             0,83                 0,82                       1,85%
Debt to Asset Ratio
Rasio Utang Berbunga terhadap Ekuitas
                                                                                             4,08                 3,50                      16,57%
Interest-bearing Debt to Equity Ratio
Rasio Ekuitas terhadap Jumlah Aset
                                                                                             0,17                 0,18                      (8,22)%
Equity to Asset Ratio



Dari rasio solvabilitas sebagaimana dijabarkan dalam tabel di            From the solvency ratios as described in the table above, the
atas, kemampuan Perseroan untuk menyelesaikan utang jangka               Company’s ability to settle its long-term debts was still quite
panjangnya masih cukup baik jika dilihat dari utang Perseroan            good when viewed from the Company’s debts which could still be
yang masih dapat ditutup dengan aset Perseroan.                          covered with the Company’s assets.


Tingkat Kolektibilitas Piutang
                                                                         Receivables Collectability Rate
Kolektibilitas piutang mencerminkan kemampuan Perseroan
dalam menagih piutang yang dimiliki. Semakin kecil nilai periode         Receivables collectibility reflects the Company’s ability to collect
penagihannya menunjukkan semakin baiknya kemampuan                       receivables. The smaller the value of the collection period
Perseroan dalam mengumpulkan piutangnya                                  indicates the better the Company’s ability to collect its receivables.


                                                                                                                   Kenaikan (Penurunan)
                                                                     2023                   2022                    Increase (Decrease)
                                                                  (hari | days)          (hari | days)           Selisih
                                                                                                                                               (%)
                                                                                                                Deviation
Kolektibilitas Piutang
                                                                       26                     20                   (5)                        (19)
Receivables Collectability




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       STRUKTUR MODAL DAN KEBIJAKAN MANAJEMEN ATAS STRUKTUR MODAL
       CAPITAL STRUCTURE AND MANAGEMENT POLICY ON CAPITAL STRUCTURE

       Struktur Modal                                                        Capital Structure

       Perseroan mengelola struktur permodalannya agar dapat                 The Company manages its capital structure to maintain a positive
       mempertahankan peringkat kredit yang positif dan rasio modal          credit rating and healthy capital ratios so that the Company can
       yang sehat sehingga Perseroan dapat mengukur kemampuannya             measure its ability to develop business and provide sustainable
       untuk mengembangkan bisnisnya serta memberi nilai tambah              added value to stakeholders for a long term.
       yang berkesinambungan bagi para stakeholder untuk jangka
       panjang.


       Struktur modal Perseroan ditopang oleh kas dan setara kas,            The Company’s capital structure is supported by cash and cash
       simpanan dalam bentuk deposito berjangka, utang bank serta            equivalents, time deposits, bank loans and equity. In 2023, the net
       ekuitas. Pada tahun 2023, rasio utang bersih terhadap ekuitas         debt to equity ratio was recorded at 4.94 times from the previous
       tercatat sebesar 4,94 kali dari tahun sebelumnya sebesar 4,45 kali.   year of 4.45 times. This reflects that the ratio of total equity and
       Hal ini mencerminkan rasio jumlah ekuitas dan hutangnya masih         debt was still below the maximum threshold.
       di bawah ambang batas maksimal.



       Kebijakan Manajemen Struktur Modal                                    Management Policy on Capital Structure

       Tujuan utama dari pengelolaan permodalan Perusahaan                   The main objective of managing the Company’s capital is to
       adalah untuk memastikan bahwa Perseroan mempertahankan                ensure that the Company maintains healthy capital ratios to
       rasio modal yang sehat dalam rangka mendukung bisnis dan              support the business and maximize shareholder value. The
       memaksimalkan nilai pemegang saham. Perseroan mengelola               Company manages capital to maintain its business continuity to
       permodalan untuk menjaga kelangsungan usahanya dalam                  maximize shareholder wealth and benefits to other parties who
       rangka memaksimumkan kekayaan para pemegang saham                     have an interest in the Company and to maintain an optimal capital
       dan manfaat kepada pihak lain yang berkepentingan terhadap            structure to reduce capital costs.
       Perusahaan dan untuk menjaga struktur optimal permodalan
       untuk mengurangi biaya permodalan.


       Dasar Pemilihan Kebijakan atas Struktur Modal                         Basis to Determine Policy on Capital Structure

       Kebijakan manajemen atas struktur modal ditujukan untuk               Management’s policy on capital structure is aimed at ensuring
       memastikan kelangsungan usaha, selain memaksimalkan                   business continuity and maximize shareholder profits by
       keuntungan para Pemegang Saham melalui optimalisasi saldo             optimizing the balance of the Company’s debt and equity so
       utang dan ekuitas Perseroan sehingga dapat memberikan                 that it can provide returns for shareholders and benefits for other
       imbal hasil bagi Pemegang Saham dan manfaat bagi pemangku             stakeholders. The policy also aims to maintain an optimal capital
       kepentingan lainnya. Kebijakan tersebut juga bertujuan untuk          structure to reduce the capital cost.
       mempertahankan struktur permodalan yang optimal guna
       mengurangi biaya modal.




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                                                                                                                           MANAGEMENT DISCUSSION AND ANALYSIS   04

IKATAN YANG MATERIAL UNTUK INVESTASI BARANG MODAL
MATERIAL COMMITMENT FOR CAPITAL GOODS INVESTMENT

Berdasarkan Peraturan Otoritas Jasa Keuangan (POJK) No.                     The Financial Services Authority Regulation (POJK) No. 17/
17/POJK.04/2020 tentang Transaksi Material dan Perubahan                    POJK.04/2020 concerning Material Transactions and Changes in
Kegiatan Usaha, Pasal 3 ayat (1) menyebutkan bahwa suatu                    Business Activities, Article 3 paragraph (1) states that a transaction
transaksi dikategorikan sebagai transaksi material apabila nilai            is categorized as a material transaction if the transaction value is
transaksi sama dengan 20% atau lebih dari ekuitas Perusahaan                equal to 20% or more of the Public Company’s equity. Until the end
Terbuka. Hingga akhir tahun 2023, Perseroan tidak melakukan                 of 2023, the Company entered into material commitments to meet
ikatan material dalam rangka memenuhi kebutuhan investasi                   the needs for investment in capital goods.
barang modal.



REALISASI INVESTASI BARANG MODAL
REALIZATION OF CAPITAL GOODS INVESTMENT

Perseroan tidak melakukan investasi barang modal baru untuk                 The Company did not invest in new capital goods to support the
mendukung kinerja operasional Perseroan di tahun 2023.                      Company’s operational performance in 2023.




PERBANDINGAN ANTARA TARGET DENGAN REALISASI
COMPARISON BETWEEN TARGET AND REALIZATION

Perseroan telah menetapkan sejumlah target yang hendak                      The Company has set a number of targets in the 2023 Annual
dicapai dalam Rencana Kerja dan Anggaran Tahunan (RKAT)                     Work Plan and Budget (RKAT). The comparison between the
2023. Adapun perbandingan pencapaian beberapa target yang                   achievement of several targets set based on the 2023 RKAT with
ditetapkan berdasarkan RKAT Tahun 2023 dengan realisasi tahun               the realization of the fiscal year is as follows:
buku adalah sebagai berikut:


Keuangan
Finance

                                                                              Setelah          Pencapaian                              Realisasi
                                            Sebelum konsolidasi              Konsolidasi         Realisasi                           2023 setelah
                                            Before Consolidation                After        Terhadap Target                          konsolidasi
                                                                            Consolidation     2023 (sebelum                            terhadap
                 Uraian                                                                       konsolidasi (%)    Proyeksi 2024     Proyeksi 2024 (%)
               Description             Target 2023        Realisasi 2023     Realisasi 2023     Realization        (Rp-Miliar)           2023
                                        (Rp-Miliar)         (Rp-Miliar)        (Rp-Miliar)       to Target      Projection 2024    Realization after
                                       2023 Target       2023 Realization   2023 Realization   2023 (Before       (IDR-Billion)    consolidation to
                                       (IDR-Billion)       (IDR-Billion)      (IDR-Billion)   Consolidation)                        2024 Projection
                                                                                                    (%)                                   (%)
Aset                                                                                                                                                  82%
                                                14.330             12.912             11.810             90%             14.325
Assets
Liabilitas
                                                 6.744             6.653              9.820              99%             10.198                       96%
Liabilities
Ekuitas
                                                 7.586             6.259              1.990              83%              4.126                       48%
Equity
Pendapatan
                                                 8.264              6.150            10.703              74%             13.598                       79%
Revenues
Beban Pokok Pendapatan
                                                 4.939              4.555             7.904              92%              9.256                       85%
Cost of Revenues
Laba Bruto
                                                 3.325              1.595             2.799              48%              4.343                       64%
Gross Profit
Laba Bersih Tahun Berjalan Sebelum
Efek Penyesuaian Proforma
                                                 1.863               518                518              28%              1.456                       64%
Profit for the Year before effect of
proforma adjustment
EBITDA                                           3.249              1.183              1.517             36%              2.866                       53%




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        Operasional
        Operational

                                                                                     Setelah                                                         Realisasi
                                                                                                          Pencapaian
                                                  Sebelum konsolidasi               Konsolidasi                                                    2023 setelah
                                                                                                           Realisasi
                                                  Before Consolidation                 After                                                        konsolidasi
                                                                                                       Terhadap Target
                                                                                   Consolidation                                                     terhadap
                                                                                                        2023 (sebelum
                    Jenis Produk                                                                                            Proyeksi 2024        Proyeksi 2024 (%)
                                                                                                        konsolidasi) (%)
                    Product Type                                Realisasi 2023      Realisasi 2023                               (Rp)                  2023
                                                                                                          Realization
                                           Target 2023 (MT)          (MT)                (MT)                              Projection 2024       Realization after
                                                                                                           to Target
                                           2023 Target (MT)    2023 Realization    2023 Realization                              (Rp)             consolidation to
                                                                                                         2023 (Before
                                                                     (MT)                (MT)                                                     2024 Projection
                                                                                                       Consolidation (%)
                                                                                                                                                        (%)
        Produksi
        Productions

        Jumlah Produksi FFB dari
        perkebunan inti
                                                  1.929.487            1.723.170           1.723.170                89%           1.841.549                   94%
        Total FFB Productions from
        nucleus estate

        Jumlah Produksi
                                                  2.365.755           2.307.022           2.307.022                 98%          2.686.660                    86%
        Total Productions

                     Minyak Kelapa Sawit            607.240
                                                                         518.819            518.819                 85%             595.581                   87%
                     Crude Palm Oil

                     Inti Sawit                      114.291
        SSMS                                                              99.082             99.082                 87%             111.914                   89%
                     Palm Kernel

                     Minyak Inti Sawit
                                                     25.800               22.327             22.327                 87%             25.800                    87%
                     Palm Kernel Oil

                     Minyak Inti Sawit
                                                     71.586               24.998             24.998                 35%             76.500                    33%
                     Palm Kernel Oil

                     RBDPO                          816.000              746.554            746.554                 91%            900.975                    83%
        CBUT         RBDP                           565.500              584.864           584.864                 103%             677.137                   86%

                     RBDPS                          130.500              137.360            137.360                105%             164.429                   84%

                     PFAD                            29.750               29.323             29.323                 99%              37.124                   79%

                     PKE                             94.284               34.448             34.448                 37%             97.200                    35%



        Penjualan
        Sales

        Jumlah Penjualan
                                                  1.694.224           1.460.804            923.408                  86%           1.796.919                   51%
        Total Sales

                     TBS
                                                           -              43.755             43.755                    -                     -                   -
                     FFB

                     Minyak Kelapa Sawit
                                                    607.240              517.975                   -                85%             595.581                      -
                     Crude Palm Oil
        SSMS
                     Inti Sawit
                                                     54.291              46.669               2.997                 86%              51.914                    6%
                     Palm Kernel

                     Minyak Inti Sawit                                                       25.309
                                                     25.800               24.650                                    96%             25.800                    98%
                     Palm Kernel Oil

                     Minyak Kelapa Sawit
                                                           -                   -             24.935                    -                     -                   -
                     Crude Palm Oil

                     Minyak Inti Sawit                                                       22.839
                                                     75.168               25.698                                    34%              57.417                   40%
                     Palm Kernel Oil

                     RBDPO                          100.000               22.982             23.282                 23%                      -                   -
        CBUT         RBDP                           573.724              570.918            570.918                100%            714.086                    80%

                     RBDPS                          133.692              142.907            142.907                107%             221.997                   64%

                     PFAD                            32.725               33.178             33.178                101%              32.923                  101%

                     PKE                             91.584               32.072             31.772                 35%              97.200                   33%

                     Pillow Pack                           -                   -               1.516                   -                     -                   -




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                                                                                                                   MANAGEMENT DISCUSSION AND ANALYSIS   04

INFORMASI DAN FAKTA MATERIAL YANG TERJADI SETELAH TANGGAL LAPORAN AKUNTAN
MATERIAL INFORMATION AND FACTS THAT OCCURRED AFTER THE DATE OF THE ACCOUNTANT’S REPORT
Pada awal tahun 2024, beberapa entitas anak Perseroan               In early 2024, certain subsidiaries of the Company provided
memberikan penjaminan atas fasilitas dari perbankan yang            guarantees for banking facilities obtained by several farmer groups
diperoleh beberapa kelompok tani (Koperasi/Plasma) dengan           (Cooperative/Plasma) with a total amount of Rp221,008,874.
jumlah keseluruhan sebesar Rp221.008.874. Selain jaminan dan        Beside guarantees from certain subsidiaries, these facilities are
beberapa entitas anak, fasilitas tersebut juga dijamin dengan       also guaranteed with the palm oil plantations owned by each
kebun kelapa sawit milik masing-masing Koperasi.                    Cooperative.




TINJAUAN KEUANGAN LAINNYA
OTHER FINANCIAL REVIEWS
Kebijakan Dividen dan Pembagiannya                                  Dividend Policy and Distribution

Perseroan memiliki kebijakan untuk membagikan dividen tunai         The Company has a policy of distributing cash dividends to
kepada para pemegang saham sebesar 30% dari laba tahun              shareholders in the amount of 30% of the consolidated current
berjalan konsolidasian (setelah dikurangi porsi laba tahun          year’s profit (after deducting the portion of the current year’s profit
berjalan yang dapat diatribusikan kepada kepentingan non            attributable to non-controlling interests) in the relevant fiscal year.
pengendali) pada tahun buku yang bersangkutan. Pembagian            This dividend distribution is carried out as part of the Company’s
dividen ini dilakukan sebagai bagian dari komitmen Perseroan        commitment to providing benefits from investments provided by
untuk memberikan manfaat dari investasi yang diberikan oleh         shareholders. Through this dividend distribution, the Company
pemegang saham. Melalui pembagian dividen ini, maka Perseroan       has demonstrated its ability to manage its business so that it is
telah menunjukkan kemampuannya dalam mengelola bisnisnya            able to maintain the ompany’s profitability and distribute high
sehingga mampu mempertahankan profitabilitas perusahaan dan         dividends to shareholders.
membagikan dividen yang tinggi bagi pemegang saham.


Pembagian dividen harus melalui persetujuan RUPS. Setelah           Dividend distribution must be approved by the GMS. Once
RUPS menyetujui pembagian dividen, maka Perseroan dapat             approved, the Company can distribute dividends in accordance
melaksanakan pembagian dividen sesuai dengan ketentuan yang         with applicable regulations.
berlaku.


Pembagian Dividen dalam 2 (Dua) Tahun Terakhir                      Dividend Distribution in the Last 2 (Two) Years

Sesuai dengan Akta Notaris Aulia Taufani S.H., No. 31 tanggal 23    In accordance with the Deed of Notary Aulia Taufani S.H., No.
Mei 2023 mengenai Berita Acara Rapat Umum Pemegang Saham            31 dated May 23, 2023 regarding Minutes of Annual General
Tahunan untuk tahun buku 2022 pada tanggal 8 Mei 2023, para         Meeting of Shareholders for the fiscal year 2023 on May 8,
pemegang saham menyetujui penggunaan laba bersih Perseroan          2023, the shareholders approved the use of Company’s net
untuk tahun buku yang berakhir pada tanggal 31 Desember 2022        profit for Fiscal Year ending December 31, 2022 in the amount
sebesar Rp1.848.118.978.000 (satu triliun delapan ratus empat       of IDR1,848,118,978,000 (one trillion eight hundred forty-eight
puluh delapan miliar seratus delapan belas juta sembilan ratus      billion one hundred eighteen million nine hundred seventy eight
tujuh puluh delapan ribu rupiah) untuk digunakan sebagai berikut:   thousand rupiah) to be used as follows:


•   Sebesar Rp369.623.795.600 atau 20% dari laba bersih akan        •   An amount of IDR369,623,795,600 or 20% of the net profit will
    disisihkan sebagai cadangan wajib;                                  be set aside as a mandatory reserve;


•   Sebesar Rp710.985.556.400 atau sejumlah Rp74,64 per saham       •   An amount of IDR710,985,556,400 or IDR74,64 per share or
    atau 38% dari laba bersih didistribusikan sebagai dividen           38% of the net profit is distributed as interim dividends to
    interim kepada pemegang saham secara proporsional sesuai            shareholders proportionally according to their percentage
    persentase kepemilikan sahamnya. Adapun dividen interim ini         of share ownership. Interim dividends has been distributed
    telah didistribusikan kepada pemegang saham pada tanggal            to shareholders on October 28, 2022, in accordance to the
    28 Oktober 2022, sesuai dengan ketentuan dalam Anggaran             provisions in the Company’s Articles of Association and Capital
    Dasar Perseroan dan Peraturan Pasar Modal.                          Market regulations.


•   Sebesar Rp710.985.556.400 atau sejumlah Rp74,64 per saham       •   An amount of IDR710,985,556,400 or IDR74,64 per share or
    atau 38% dari laba bersih didistribusikan sebagai dividen           38% of the net profit is distributed as annual dividends to
    tahunan kepada pemegang saham secara proporsional sesuai            shareholders proportionally according to their percentage of
    persentase kepemilikan sahamnya.                                    share ownership.



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              Berdasarkan ketentuan yang berlaku di pasar modal, yang                              Based on the provisions in force in the capital market, those
              berhak atas dividen tunai adalah pemegang saham yang                                 who are entitled to cash dividends are shareholders whose
              namanya tercatat dalam Daftar Pemegang Saham tanggal 19                              names are registered in the Register of Shareholders on May
              Mei 2023 pukul 16.00 WIB. Adapun pembayaran dividen tunai                            19, 2023, at 04.00 PM. The cash dividend payment will be
              akan dilakukan pada 8 Juni 2023.                                                     made on June 8, 2023.


       •      Sisa dari laba bersih Perseroan, yaitu sebesar Rp56.524.069.600                  •   The remainder of Company’s net profit, which is
              akan dimasukkan sebagai cadangan lainnya yang akan                                   IDR56,524,069,600 will be included as other reserves which
              menambah saldo laba ditahan.                                                         will add to the balance of retained earnings.


       Perseroan telah merealisasikan keputusan RUPS tersebut melalui                          The Company has realized the GMS resolution by distributing
       pembagian Dividen Interim dan Tunai yang masing-masing                                  Interim and Cash Dividends on October 28, 2022 and June 8, 2023,
       dilakukan pada 28 Oktober 2022 dan 8 Juni 2023 untuk kinerja                            repectively for the performance of the fiscal year 2022.
       tahun buku 2022.


           Tabel Pembagian Dividen 2022-2023
           Table of Dividend Distribution 2022-2023

                                                                                       2023                                              2022
           Uraian
                                                                     (Untuk Dividen Saham Tahun Buku 2022)             (Untuk Dividen Saham Tahun Buku 2021)
           Description
                                                                        (Dividend for the Fiscal Year 2022)               (Dividend for the Fiscal Year 2021)
           Dividen kas yang dibagikan
                                                                                 1.421.971.112.800                                   1.477.410.729
           Cash dividend distributed
           Dividen per lembar saham
                                                                                      149,28                                            192,90
           Dividend per share
           Rasio pembagian Dividen
                                                                                        77%                                               80%
           Dividend Distribution Ratio
           Tanggal pengumuman                                                       8 Mei 2023                                       10 Mei 2023
           Announcement Date                                                        May 8, 2023                                      May 10, 2023
           Tanggal Pembayaran                                             28 Oktober 2022 dan 8 Juni 2023                   21 Juni 2022 dan 3 Oktober 2022
           Payment Date                                                  October 28, 2022, and June 8, 2023                June 21, 2022, and October 3, 2022




       Realisasi Penggunaan Dana Hasil Penawaran Umum                                          Realization of Use of Proceeds from Public Offering

       Perseroan melakukan penawaran saham perdana umum pada                                   The Company conducted an initial public offering in 2013 and
       tahun 2013 dan berhasil meraih dana bersih sebesar Rp982,2                              managed to raise a net fund of Rp982.2 billion. The funds from the
       miliar. Dana dari penawaran umum tersebut telah digunakan                               public offering have been used entirely with the following details:
       seluruhnya dengan perincian sebagai berikut:


                                                                                                                                     dalam miliar rupiah | In million rupiah

           Uraian | Description                                                                                                                     Jumlah | Total
           Pelunasan utang entitas anak
                                                                                                                                                         245,6
           Paying off subsidiary debt
           Pembiayaan modal kerja dan setoran modal dientitas anak
                                                                                                                                                         142,4
           Financing working capital and capital injection in subsidiaries
           Pendanaan kegiatan pengembangan usaha
                                                                                                                                                         594,3
           Financing business development activities



       Pada awal tahun 2018, Perseroan melalui entitas anaknya, SSMS                           In early 2018, SSMS Plantation Holding Pte Ltd, the Company’s
       Plantation Holding Pte Ltd., melakukan penawaran umum obligasi                          subsidiary, conducted a global public offering of bonds worth
       global senilai USD300 juta dengan bunga 7,75%. Obligasi ini                             US$300 million with an interest rate of 7.75%. These bonds have
       memiliki tenor 5 (lima) tahun dan pada tahun 2023, obligasi ini                         a tenor of 5 (five) years and in 2023 the Company has paid off this
       telah dilunasi Perseroan. Dana yang diperoleh dari penawaran                            bond. The proceeds from the global bond offering have been
       obligasi global tersebut telah dipergunakan sebagai berikut:                            used as follows:


           Uraian | Description                                                                                                                     Jumlah | Total
           Membayar utang bank | Paying off bank debt                                                                                         Rp2.925,7 miliar | billion
           Membiayai program-program keberlanjutan | Financing sustainability programs                                                             US$10.000.000




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INFORMASI MATERIAL MENGENAI INVESTASI, EKSPANSI, DIVESTASI, PENGGABUNGAN
USAHA, AKUISISI, DAN/ATAU RESTRUKTURISASI UTANG/MODAL
MATERIAL INFORMATION REGARDING INVESTMENT, EXPANSION, DIVESTMENT, MERGER, ACQUISITION, AND/OR DEBT/CAPITAL RESTRUCTURING
Pada 19 Desember 2023, Perseroan melakukan aksi korporasi         On December 19, 2023 the Company carried out corporate action
berupa akuisi PT Citra Borneo Utama Tbk (CBUT) dengan             in the form of acquisitions of PT Citra Borneo Utama Tbk (CBUT)
menyetujui penyelesaian sebagian utang PT Citra Borneo Indah      by approved the debt settlement of PT Citra Borneo Indah (“CBI”)
(“CBI”) melalui pengalihan kepemilikan saham milik CBI pada PT    by handing over shares of PT Citra Borneo Utama Tbk (“CBUT”) in
Citra Borneo Utama Tbk (“CBUT”) kepada Perseroan. Dengan          one stage for the shares owned by CBI to the Company. Thus, the
demikian, secara keseluruhan saham Perseroan di CBUT adalah       Company’s overall share in PT Citra Borneo Utama Tbk is 78.22%
sebesar 78,22% dimana 70,22% saham dimiliki langsung oleh         where 70.2% share owned directly by the Company, 4% share
Perseroan, 4% saham dimiliki tidak langsung melalui KSA, dan 4%   owned indirectly by KSA, and 4% share owned indirectly by MMS.
saham dimiliki tidak langsung melalui MMS.




INFORMASI TRANSAKSI MATERIAL YANG MENGANDUNG BENTURAN KEPENTINGAN DAN/
ATAU TRANSAKSI DENGAN PIHAK AFILIASI/PIHAK BERELASI
INFORMATION ON MATERIAL TRANSACTIONS CONTAINING CONFLICTS OF INTEREST AND/OR TRANSACTIONS WITH AFFILIATED PARTIES/RELATED
PARTIES

Informasi Transaksi Material           yang    Mengandung         Information on Material Transactions                     Containing
Benturan Kepentingan                                              Conflict of Interest

Sepanjang tahun 2023, Perseroan tidak melakukan transaksi yang    Throughout 2023, the Company did not perform any transactions
mengandung benturan kepentingan.                                  containing conflicts of interest.



Informasi dengan Pihak Afiliasi                                   Information on Transaction with Affiliated Parties

Sepanjang tahun 2023, Perseroan tidak melakukan transaksi         Throughout 2023, the Company did not make transactions with
dengan pihak afiliasi sehubungan dengan kegiatan bisnis           affiliated parties in connection with the Company’s business
Perseroan.                                                        activities.



Informasi Transaksi dengan Pihak Berelasi                         Information on Transaction with Related Parties

Informasi terkait transaksi dengan pihak-pihak berelasi, sifat    Information related to transactions with related parties, nature of
hubungan, serta jenis transaksi yang dilakukan Perseroan dengan   relationship, and types of transactions carried out by the Company
pihak-pihak berelasi                                              with the related parties



Kebijakan tentang Pihak Berelasi                                  Policy on Related Parties

Perseroan mendefinisikan pihak berelasi didefinisikan sebagai     The Company defines related parties as follows:
berikut:


a) Orang atau anggota keluarga terdekat mempunyai relasi          a) A person or an immediate family member has a relationship
   dengan Kelompok Usaha jika orang tersebut:                        with the Business Group if the person:
   i. Memiliki pengendalian atau pengendalian bersama                i. Has control or joint control of the Company;
        Perseroan;
   ii. Memiliki pengaruh signifikan atas Perseroan; atau             ii. Has significant influence over the Company; or
   iii. Personil manajemen kunci Perseroan atau entitas induk        iii. Key management personnel of the Company or the parent
        Perseroan.                                                        entity of the Company.




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       b) Suatu entitas berelasi dengan Perseroan jika memenuhi salah                 b) An entity is related to the Company if it fulfills one of the
          satu hal berikut:                                                               following:
          i. Entitas dan Perseroan adalah anggota dari Kelompok                       i. The Entity and the Company are members of the same
               Usaha yang sama (artinya entitas induk, entitas anak, dan                  Business Group (meaning that the parent entity, subsidiary
               entitas anak berikutnya terkait dengan entitas lain).                      and subsequent subsidiaries are related to other entities).
          ii. Satu entitas adalah entitas asosiasi atau ventura bersama               ii. One entity is an associate or joint venture of the other entity (or
               dari entitas lain (atau entitas asosiasi atau ventura bersama              an associate or joint venture of a member of a Business Group,
               yang merupakan anggota suatu Kelompok Usaha, yang                          of which the other entity is a member).
               mana entitas lain tersebut adalah anggotanya).
          iii. Kedua entitas tersebut adalah ventura bersama dari pihak               iii. The two entities are joint ventures of the same third party.
               ketiga yang sama.
          iv. Satu entitas adalah ventura bersama dari entitas ketiga                 iv. One entity is a joint venture of the third entity and the other
               dan entitas yang lain adalah entitas asosiasi dari entitas                 entity is an associate of the third entity.
               ketiga.
          v. Entitas tersebut adalah suatu program imbalan pascakerja                 v.   The entity is a post-employment benefit plan for employee
               untuk imbalan kerja dari salah satu entitas pelapor atau                    benefits from a reporting entity or an entity related to
               entitas yang terkait dengan entitas pelapor. Jika entitas                   the reporting entity. If the reporting entity is the entity
               pelapor adalah entitas yang menyelenggarakan program                        administering the program, then the sponsoring entity is also
               tersebut, maka entitas sponsor juga berelasi dengan                         related to the reporting entity.
               entitas pelapor.
          vi. Entitas yang dikendalikan atau dikendalikan bersama oleh                vi. Entity that is controlled or jointly controlled by the person
               orang yang diidentifikasikan dalam huruf (a).                               identified in letter (a).
          vii. Orang yang diidentifikasi dalam huruf (a) (i) memiliki                 vii. The person identified in (a) (i) has significant influence over the
               pengaruh signifikan atas entitas atau personil manajemen                    entity or is a key management personnel of the entity (or the
               kunci entitas (atau entitas induk dari entitas).                            parent of the entity).


       Transaksi tersebut dilakukan berdasarkan persyaratan yang                      The transaction is carried out based on terms agreed by both
       disetujui oleh kedua belah pihak.                                              parties.



       Nama Pihak Bertransaksi dan Sifat Hubungan Afiliasi                            Name of Transaction Party and Nature of Affiliation

       Tabel di bawah ini mengungkapkan pihak-pihak yang berelasi                     The following table reveals the related parties and the nature of
       dan sifat hubungan serta sifat transaksi untuk periode tahun buku              the relationship and the nature of the transactions for the fiscal
       2023:                                                                          year 2023:


        Pengungkapan Pihak Berelasi
        Disclosure of Related Parties

                    Pihak yang Berelasi                       Sifat Hubungan                                            Sifat Transaksi
                       Related Party                       Nature of Relationship                                     Natureof Transaction
                                                Entitas yang memiliki pengaruh signifikan       Dana talangan pinjaman, jasa research, dan pendapatan
                                                terhadap kelompok usaha (Pengendali)            keuangan
        PT Citra Borneo Indah (CBI)
                                                Entity which has significant influence to the   Payments on behalf of the related party, loan research services,
                                                Group (Controlling)                             and finance income
                                                Pihak Berelasi lainnya                          Sewa tanah
        Bapak Abdul Rasyid AS
                                                Other related parties                           Land rental
                                                Pihak Berelasi lainnya                          Dana talangan dan pembelian lain-lain
        PT Amprah Mitra Jaya (AMJ)
                                                Other related parties                           Payments on behalf of the related party and purchase non trade
        PT Bank Perkreditan Rakyat Lingga       Pihak Berelasi lainnya                          Kas dan setara kas, deposito berjangka, dan sewa
        Sejahtera (BPRLS)                       Other related parties                           Cash and cash equivalents, time deposits, and rental
        Borneo Agri Resources Industries Pte    Pihak Berelasi lainnya                          Penjualan
        Ltd (BARI)                              Other related parties                           Sales
                                                Pihak Berelasi lainnya                          Penjualan TBS dan dana talangan
        PT Borneo Sawit Gemilang
                                                Other related parties                           Sales of FFB and payment on behalf of the related party
                                                Pihak Berelasi lainnya                          Dana talangan
        PT Central Kalimantan Abadi (CKA)
                                                Other related parties                           Payment on behalf of the related party
                                                Pihak Berelasi lainnya                          Dana talangan
        PT Erythrina Nugraha Megah (ENM)
                                                Other related parties                           Payment on behalf of the related party
                                                Pihak Berelasi lainnya                          Dana talangan
        PT Intrado Jaya Intiga (IJI)
                                                Other related parties                           Payment on behalf of the related party




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Pengungkapan Pihak Berelasi
Disclosure of Related Parties

          Pihak yang Berelasi                     Sifat Hubungan                                       Sifat Transaksi
             Related Party                     Nature of Relationship                                Natureof Transaction
                                     Pihak Berelasi lainnya                    Dana talangan dan penjamin
PT Mandiri Indah Lestari (MIL)
                                     Other related parties                     Payment on behalf of the related party and corporate guarantor
                                     Pihak Berelasi lainnya                    Dana talangan
PT Mendawai Putra (MP)
                                     Other related parties                     Payment on behalf of the related party
                                                                               Pembelian buah sawit dan dana talangan
                                     Pihak Berelasi lainnya
PT Menthobi Sawit Jaya (MSJ)                                                   Purchase of fresh fruit bunch and payments on behalf of the
                                     Other related parties
                                                                               related party
                                     Pihak Berelasi lainnya                    Dana talangan dan penjualan bibit
PT Natai Sawit Perkasa (NSP)
                                     Other related parties                     Payments on behalf of the related party and nursery sales
                                     Pihak Berelasi lainnya                    Dana talangan dan pengangkutan
PT Pelayaran Lingga Marintama (LM)
                                     Other related parties                     Payments on behalf of the related party and freight
                                     Pihak Berelasi lainnya                    Dana talangan dan pengangkutan
PT Pelayaran Senggora (PS)
                                     Other related parties                     Payments on behalf of the related party and freight
                                     Pihak Berelasi lainnya                    Pekerjaan konstruksi, uang jaminan, dan uang muka sewa kantor
PT Pesona Citra Propertindo (PCP)
                                     Other related parties                     Construction work, security deposit, and advance for office rental
                                     Pihak Berelasi lainnya
PT Prima Sawit Borneo (PSB)                                                    Jaminan | Corporate guarantor
                                     Other related parties
                                     Pihak Berelasi lainnya                    Dana talangan dan pembelian TBS
PT Sepalar Yasa Kartika (SYK)
                                     Other related parties                     Payments on behalf of the related party and purchase of FFB
                                     Pihak Berelasi lainnya                    Dana talangan dan jasa lain-lain
PT Sulung Ranch (SR)
                                     Other related parties                     Payments on behalf of the related party and other service


Dalam kegiatan usaha normal, Kelompok Usaha Perseroan                   In normal business activities, the Company’s Business Group
mengadakan transaksi penjualan, pembelian, dan transaksi                enters into sales, purchases and other financial transactions
keuangan lainnya dengan pihak berelasi, yang dilakukan dengan           with related parties, which are carried out under the terms and
syarat dan kondisi yang disepakati oleh para pihak. Tentang             conditions agreed upon by the parties. The significant balances
saldo dan transaksi yang signifikan dengan pihak-pihak berelasi         and transactions with related parties recorded by SSMS are
yang dibukukan SSMS dapat dilihat pada Laporan Keuangan                 presented in the Consolidated Financial Statements as of
Konsolidasian pada 31 Desember 2023 pada catatan No. 34                 December 31, 2023 in note No. 34 to the Company’s Consolidated
Laporan Keuangan Konsolidasian Perseroan.                               Financial Statements.


Penjelasan Mengenai Kewajaran Transaksi                                 Fairness of the Transaction

Kewajaran seluruh transaksi yang dilakukan Perseroan dengan             The fairness of all transactions carried out by the Company with
Pihak-pihak Berelasi/Berafiliasi telah diungkapkan pada laporan         Related/Affiliated Parties has been disclosed in the financial
keuangan, dan telah sesuai dengan standar PSAK 7 (revisi 2014)          statements, and complies with PSAK 7 (revised 2014) standard
tentang “Pengungkapan Pihak-pihak Berelasi” yang mensyaratkan           concerning “Disclosure of related parties” which requires
pengungkapan hubungan, transaksi dan saldo pihak-pihak                  disclosure of relationships, transactions and balances of related
berelasi, termasuk komitmen, dalam laporan keuangan.. Semua             parties, including commitments, in the financial statements. All
transaksi dengan pihak yang berelasi, dilakukan dengan                  transactions with related parties are carried out under normal
persyaratan, tingkat harga, dan kondisi normal sebagaimana yang         terms, price levels and conditions as those conducted with third
dilakukan dengan pihak ketiga dan telah diungkapkan dalam               parties and have been disclosed in the financial statements.
laporan keuangan.


Kebijakan Perusahaan Terkait Mekanisme Review atas                      Company Policy Regarding Review Mechanism of
Transaksi dan Pemenuhan Peraturan dan Ketentuan                         Transactions and Compliance with Related Regulations
Terkait                                                                 and Provisions

Dalam rangka melindungi kepentingan pemegang saham dan                  In order to protect the interests of shareholders and stakeholders,
stakeholder, maka dalam menjalankan kegiatannya, Perseroan              in carrying out its activities, the Company is subject to policies
tunduk pada ketentuan menerapkan kebijakan dalam hal                    in terms of review mechanisms for affiliated/related party
mekanisme review atas transaksi afiliasi/pihak berelasi, yang           transactions, which refer to laws and regulations including PSAK,
berpedoman pada peraturan perundang-undangan antara lain                OJK Regulation No. 42/POJK.04/2020 concerning Affiliated
PSAK, Peraturan OJK No. 42/POJK.04/2020 tentang Transaksi               Transactions and Transactions with Conflicts of Interest (“POJK
Afiliasi dan Transaksi Benturan Kepentingan (“POJK 42”).                42”).




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       Berdasarkan POJK 42, Transaksi Afiliasi didefinisikan sebagai         Based on POJK 42, Affiliated Transactions are defined as any
       setiap aktivitas dan/atau transaksi yang dilakukan oleh               activities and/or transactions carried out by a public company or a
       perusahaan terbuka atau perusahaan terkendali dengan Afiliasi         controlled company with Affiliates of a public company or Affiliates
       dari perusahaan terbuka atau Afiliasi dari anggota Direksi, anggota   of members of the Board of Directors, members of the Board of
       Dewan Komisaris, Pemegang Saham Utama, atau Pengendali,               Commissioners, Majority or Controlling Shareholders, includes
       termasuk setiap aktivitas dan/atau transaksi yang dilakukan           any activity or transaction carried out by a public company or a
       oleh perusahaan terbuka atau perusahaan terkendali untuk              controlled company for the public Company’s affiliate interest or
       kepentingan Afiliasi dari perusahaan terbuka atau Afiliasi dari       an affiliate of a member of the Board of Directors, member of the
       anggota Direksi, anggota Dewan Komisaris, Pemegang Saham              Board of Commissioners, major shareholder, or controller.
       Utama, atau Pengendali.


       POJK 42 mengatur mengenai kewajiban prosedur bagi Perusahaan          POJK 42 regulates procedural obligations for public companies
       Terbuka termasuk pengecualiannya, dalam hal melaksanakan              including but not limited to carrying out Affiliated Transactions.
       Transaksi Afiliasi. Sesuai Pasal 8 dan Pasal 9 POJK 42, Transaksi     In accordance with Article 8 and Article 9 POJK 42, Affiliated
       Afiliasi yang merupakan kegiatan usaha yang dijalankan dalam          Transactions which are business activities carried out to generate
       rangka menghasilkan pendapatan usaha dan dijalankan secara            business income and are carried out routinely, repeatedly and/
       rutin, berulang, dan/atau berkelanjutan, diungkapkan dalam            or continuously, are disclosed in reports or annual financial
       laporan atau laporan keuangan tahunan perusahaan terbuka,             statements of public companies, as disclosed above.
       sebagaimana telah diungkapkan di atas.




       PERUBAHAN PERATURAN PERUNDANG-UNDANGAN YANG BERPENGARUH SIGNIFIKAN
       TERHADAP PERUSAHAAN
       CHANGES TO LAWS AND REGULATIONS WITH A SIGNIFICANT IMPACT ON THE COMPANY

       Sepanjang tahun 2023, tidak terdapat perubahan peraturan              Throughout 2023, there were no changes to laws and regulations
       perundang-undangan yang berdampak signifikan terutama                 that had a significant impact especially on the Company’s
       terhadap kinerja Perseroan.                                           performance.




       PERUBAHAN KEBIJAKAN AKUNTANSI DAN DAMPAKNYA TERHADAP PERUSAHAAN
       CHANGES IN ACCOUNTING POLICY AND THEIR IMPACT ON THE COMPANY
       Kelompok Usaha telah menerapkan sejumlah standar baru dan             The Group has implemented a number of new standards and
       amandemen standar akuntansi yang relevan dengan pelaporan             amendments to accounting standards that are relevant to financial
       keuangan dan efektif untuk periode tahunan yang dimulai pada          reporting and effective for the annual period beginning on or after
       atau setelah 1 Januari 2023, yang tidak menyebabkan perubahan         January 1, 2023, which did not cause significant changes to the
       signifikan atas kebijakan akuntansi Kelompok Usaha dan tidak          Group’s accounting policies and did not have a material impact on
       memberikan dampak yang material terhadap jumlah yang                  the amounts reported in the current year’s consolidated financial
       dilaporkan di laporan keuangan konsolidasian tahun berjalan:          statements:


       1.   Amandemen PSAK 1:                                                1.   Amendments to PSAK 1:
            Penyajian Laporan Keuangan tentang Klasifikasi Liabilitas             Classification of Liabilities as Curent or Non-current, effective
            sebagai Jangka Pendek atau Jangka panjang efektif 1 Januari           January 1, 2023 and earlier application is permitted.
            2023 dan penerapan lebih awal diizinan.
       2.   Amandemen PSAK 1:                                                2. Amendments to PSAK 1:
            Penyajian Laporan Keuangan tentang Penyajian Kebijakan              Presentation of financial statement - Disclosure of accounting
            Akuntansi.                                                          policies.
       3.   Amandemen PSAK 25:                                               3. Amendments to PSAK 25:
            Kebijakan Akuntansi, Perubahan Estimasi Akuntansi, dan              Accounting Policies. Changes in Accounting Estimates and
            Kesalahan” - definisi estimasi akuntansi.                           errors - Definition of Accounting Estimates.
       4.   Amandemen PSAK 46:                                               4. Amendments to PSAK 46:
            Pajak Penghasilan tentang Pajak Tangguhan terkait Aset dan          Income Taxes - Deferred Tax related to Assets and Liabilities
            Liabilitas yang timbul dari Transaksi Tunggal                       arising from a Single Transaction.
       5.   Amandemen PSAK 16:                                               5. Amendments to PSAK 16:
            Aset Tetap tentang hasil sebelum penggunaan yang                    Fixed Assets - Proceeds before Intended Use.
            diintensikan



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INFORMASI KELANGSUNGAN USAHA
BUSINESS CONTINUITY INFORMATION

Hingga akhir tahun 2023 Perseroan tidak menemukan adanya hal-       Until the end of 2023, the Company did not find any potential issues
hal yang memiliki potensi untuk mempengaruhi kelangsungan           that could significantly affect its business continuity. Any potential
usaha secara signifikan. Setiap risiko potensial dapat dimitigasi   risks can be mitigated optimally based on the implementation
secara optimal berdasarkan penerapan kebijakan manajemen            of the Company’s risk management policies that have been
risiko Perseroan yang telah ditetapkan.                             determined.




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                                      TATA KELOLA PERUSAHAAN
                                                    CORPORATE GOVERNANCE   05




TATA KELOLA
                    05
PERUSAHAAN
 CORPORATE GOVERNANCE




 Perseroan menempatkan kebijakan GCG sebagai
 pedoman bagi Direksi dan seluruh karyawan dalam
 menjalankan aktivitas bisnis dan operasional di
 lingkungan kerja. Perseroan menyadari pentingnya
 penerapan GCG untuk mendapatkan dukungan dari
 pemangku kepentingan dan masyarakat .

 The Company puts GCG policy as guideline for Board
 of Directors and all employees in conducting business
 and operational activities in the Company. The Company
 is conscious of crucial GCG implementations are to
 winning over stakeholders and publics.

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       PENERAPAN TATA KELOLA PERUSAHAAN YANG BAIK
       IMPLEMENTATION OF GOOD CORPORATE GOVERNANCE

       GCG menjadi salah satu pilar utama yang diharapkan mampu                  GCG is one of the main pillars which is expected to form the
       membentuk fondasi iklim investasi yang sehat. Lebih jauh, GCG             foundation for a healthy investment climate. Furthermore, GCG
       telah menjadi salah satu faktor fundamental bagi investor dalam           has become one of the fundamental factors for investors in
       menilai kinerja perusahaan yang berkelanjutan hingga masa-                assessing sustainable company performance into the future.
       masa mendatang.


       GCG merupakan prinsip-prinsip yang mendasari proses dan                   GCG is the principles that underlie the processes and mechanisms
       mekanisme pengelolaan perusahaan berlandaskan kepatuhan                   for managing Company, based on compliance with laws and
       terhadap peraturan perundang-undangan serta cerminan dunia                regulations as well as a reflection of an ethical business world.
       usaha yang memiliki etika.


                                         Pendekatan Tata Kelola Perusahaan yang Baik
                                            Good Corporate Governance Approach


                                    KEPATUHAN                                  ETIKA BERUSAHA
                      terhadap peraturan perundang-undangan           sebagai cermin perilaku dunia usaha
                                   yang berlaku                                   yang sehat

                                     COMPLIANCE                                 BUSINESS ETHICS
                          with applicable laws and regulations       as a mirror of healthy business behavior




                                 IKLIM INVESTASI YANG BAIK, DAN PERTUMBUHAN YANG BERKELANJUTAN
                                        GOOD INVESTMENT CLIMATE, AND SUSTAINABLE GROWTH



       Penerapan GCG di SSMS telah mampu memberikan energi baik                  The implementation of GCG within SSMS has provided positive
       bagi Perusahaan untuk menghadapi berbagai tantangan hingga                energy for the Company to face various challenges so that it can
       dapat bertahan sampai saat ini dan diharapkan akan terus                  survive until today and is expected to continue to be a strong
       menjadi fondasi kuat dalam memberikan nilai tambah bagi setiap            foundation in providing added value to each stakeholder. SSMS’s
       pemangku kepentingan. Komitmen penerapan best practices                   commitment to consistently implement best practices of GCG
       prinsip-prinsip GCG secara konsisten juga telah menjadi budaya            principles has also become a culture for all SMMS Employees,
       bagi seluruh insan SSMS, mulai dari Dewan Komisaris, Direksi dan          starting from the Board of Commissioners, Directors and all
       segenap Pejabat, serta Pekerja SSMS.                                      SSMS’s High-ranking Officials, as well as Employees.


       SSMS menerapkan fondasi dasar praktik tata kelola yang mampu              SSMS implements the foundation of governance practice which
       mempertanggungjawabkan kepercayaan yang diberikan oleh                    is able to account for the trust given by all of its stakeholders,
       segenap pemangku kepentingan, yaitu:                                      namely:


       1.   Perseroan selalu menerapkan prinsip-prinsip yang diadopsi            1.   The Company always implements principles adopted in the 3
            dalam 3 (tiga) pilar tersebut untuk membangun fundamental                 (three) pillars to build business fundamentals in the field of oil
            bisnis bidang perkebunan kelapa sawit dan produk turunannya               palm plantations and its derivative products by implementing,
            dengan implementasi, antara lain, memberikan kesempatan                   among others, providing the widest possible opportunity
            yang seluasluasnya kepada setiap karyawan untuk                           for each employee to develop their career in Company, and
            mengembangkan kariernya di perusahaan, dan memperoleh                     receive awards for its contribution to Company’s productivity;
            penghargaan atas kontribusinya terhadap produktivitas
            perusahaan;
       2.   Meningkatkan nilai penyelenggaraan Rapat Umum Pemegang               2.   Increasing the value of holding a General Meeting of
            Saham (RUPS) dalam rangka menjamin hak-hak pemegang                       Shareholders (GMS) in order to guarantee the rights of
            saham;                                                                    shareholders;
       3.   Menjaga kesinambungan ekosistem di sekitar lokasi                    3.   Maintaining the sustainability of the ecosystem around
            operasional usaha, dan berkontribusi pada pembangunan                     business operation location, and contributing to the economic
            ekonomi masyarakat sekitar;                                               development of the surrounding community;
       4.   Memberikan kesempatan yang adil dan setara kepada                    4.   Providing fair and equal opportunities for the public and other
            masyarakat dan para pemangku kepentingan lainnya untuk                    stakeholders to gain access to company information and data,
            memperoleh akses terhadap informasi dan data perusahaan,                  both financial and operational information.
            baik informasi finansial maupun operasional.



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TUJUAN PENERAPAN GCG                                              GCG IMPLEMENTATION OBJECTIVES

a. Mendorong tercapainya kesinambungan Perseroan melalui          a. Encouraging the achievement of corporate sustainability
   pengelolaan yang didasarkan pada asas transparansi,               through management based on principles of transparency,
   akuntabilitas, responsibilitas, independensi serta kewajaran      accountability, responsibility, and independence as well as
   dan kesetaraan.                                                   fairness and equality.
b. Mendorong pemberdayaan fungsi dan kemandirian masing-          b. Encouraging the empowerment of functions and
   masing organ perusahaan, yaitu Dewan Komisaris, Direksi, dan      independence of each company organ, namely Board
   Rapat Umum Pemegang Saham.                                        of Commissioners, Directors and the General Meeting of
                                                                     Shareholders.
c. Mendorong pemegang saham, anggota Dewan Komisaris dan          c. Encouraging shareholders, members of Board of
   anggota Direksi agar dalam membuat keputusan dan men-             Commissioners and members of Board of Directors to make
   jalankan tindakannya dilandasi oleh nilai moral yang tinggi       decisions and carry out their actions based on high moral
   dan kepatuhan terhadap peraturan perundang-undangan.              values and compliance with laws and regulations.
d. Mengoptimalkan nilai Perseroan bagi pemegang saham             d. Optimizing Company’s value for shareholders while taking
   dengan tetap memperhatikan pemangku kepentingan                   into account the stakeholders.
   lainnya.
e. Meningkatkan daya saing Perseroan secara nasional maupun       e. Increase the competitiveness of Company both nationally and
   internasional, sehingga meningkatkan kepercayaan pasar            internationally, thereby increasing market confidence which
   yang dapat mendorong arus investasi dan pertumbuhan               can encourage investment flows and sustainable national
   ekonomi nasional yang berkesinambungan.                           economic growth.



DASAR HUKUM                                                       LEGAL REFERENCES

1.   Undang-Undang Republik Indonesia Nomor 40 Tahun 2007         1.  Law of the Republic of Indonesia Number 40 yearn2007
     tentang Perseroan Terbatas;                                      concerning Limited Liability Company;
2.   Undang-Undang Nomor 20 Tahun 2001 Tentang Perubahan          2. Law Number 20 year 2001 concerning Amendments to Law
     atas Undang-Undang Republik Indonesia Nomor 31 Tahun             of the Republic of Indonesia Number 31 year 1999 concerning
     1999 tentang Pemberantasan Tindak Pidana Korupsi;                Eradication of Corruption Crimes;
3.   Undang-Undang Nomor 8 Tahun 1995 tentang Pasar Modal;        3. Law Number 8 year 1995 concerning Capital Markets;
4.   Peraturan Otoritas Jasa Keuangan Nomor 55/POJK.04/2015       4. Regulation of the Financial Services Authority Number 55/
     tanggal 23 Desember 2015 tentang Pembentukan dan                 POJK.04/2015 dated December 23, 2015 concerning the
     Pedoman Pelaksanaan Kerja Komite Audit;                          Establishment and Guidelines for implementation of Audit
                                                                      Committee Work;
5.   Peraturan Otoritas Jasa Keuangan Nomor 21/POJK.04/2015       5. Regulation of the Financial Services Authority Number
     tertanggal 16 November 2015 tentang Penerapan Pedoman            21/POJK.04/2015 dated 16 November 2015 concerning
     Tata Kelola Perseroan Terbuka;                                   Implementation of Governance Guidelines for Public
                                                                      Company;
6. Surat Edaran Otoritas Jasa Keuangan No.32/SEOJK.04/2015        6. Circular of the Financial Services Authority No.32/
   tentang Pedoman Tata Kelola Perseroan Terbuka                      SEFSA.04/2015 concerning Guidelines for Public Company
                                                                      Governance
7. Peraturan Otoritas Jasa Keuangan Nomor 33/POJK.04/             7. Regulation of the Financial Services Authority Number 33/
   2014 tanggal 8 Desember 2014 tentang Direksi dan Dewan             POJK.04/2014 dated 8 December 2014 concerning Directors
   Komisaris Emiten atau Perseroan Publik;                            and Board of Commissioners of Issuers or Public Company;
8. Peraturan Otoritas Jasa Keuangan Nomor 34/POJK.04/2014         8. Regulation of the Financial Services Authority Number
   tanggal 8 Desembe 2014 tentang Komite Nominasi dan                 34/POJK.04/2014 dated December 8, 2014 concerning
   Remunerasi Emiten atau Perseroan Publik;                           Nomination and Remuneration Committee of Issuers or Public
                                                                      Company;
9. Peraturan Otoritas Jasa Keuangan Nomor 35/POJK.04/2014         9. Regulation of the Financial Services Authority Number 35/
    tanggal 8 Desember 2014 tentang Sekretaris Perseroan              POJK.04/2014 dated 8 December 2014 concerning Corporate
    Emiten atau Perseroan Publik;                                     Secretary of Issuers or Public Company;
10. Anggaran Dasar Perseroan.                                     10. Company Articles of Association.




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       PRINSIP TATA KELOLA PERUSAHAAN YANG BAIK                                                IMPLEMENTATION OF GCG PRINCIPLES

       Penerapan GCG di Perseroan dibangun berlandaskan pada                                   The implementation of GCG in the Company is built based on
       integritas yang kokoh, sehingga prinsip-prinsip tata kelola                             strong integrity, hence the principles of good governance can
       yang baik dapat dilaksanakan pada setiap lini organisasi dan                            be implemented in every line of the organization and carried out
       dilaksanakan dalam setiap aktivitas usaha sehingga seluruh                              in every business activity to achieve consistent and sustainable
       kegiatan operasional dapat berjalan secara konsisten dan                                operational activities. To manifest the implementation of good
       berkesinambungan. Untuk mewujudkan penerapan Tata                                       governance, the Company adheres to the basic principles of GCG
       Kelola yang baik, Perseroan berpegang pada prinsip-prinsip                              in accordance with the INDONESIA CORPORATE GOVERNANCE
       dasar GCG sesuai PEDOMAN UMUM GOVERNANSI KORPORAT                                       GENERAL GUIDELINES (PUG-KI) 2021 that have been updated
       INDONESIA (PUG-KI) 2021 yang telah diperbarui oleh Komite                               by the Governance Policy National Committee (KNKG), namely
       Nasional Kebijakan Governansi (KNKG), yaitu Perilaku Beretika,                          Ethical Conduct, Accountability, Transparency, and Sustainability.
       Akuntabilitas, Transparansi, dan Keberlanjutan.


           Prinsip-prinsip GCG                                    Penjelasan                                                Penerapan di Perseroan
              GCG Principles                                      Explanation                                              Application in the Company

         Perilaku Beretika               Dalam melaksanakan kegiatannya, korporasi senantiasa              Perseroan telah memiliki kode etik yang menjadi pedoman
         Ethical Conduct                 mengedepankan kejujuran, memperlakukan semua pihak                untuk insan Perseroan dalam berperilaku secara professional
                                         dengan hormat (respect), memenuhi komitmen, membangun             dan berintegritas. Selain itu, Perseroan juga telah memiliki
                                         serta menjaga nilai-nilai moral dan kepercayaan secara            Pedoman atau Charter sebagai panduan bagi masing-masing
                                         konsisten. Korporasi memperhatikan kepentingan pemegang           organ Perseroan dalam melaksanan tugas dan tanggung
                                         saham dan pemangku kepentingan lainnya berdasarkan                jawabnya.
                                         asas kewajaran dan kesetaraan (fairness) dan dikelola secara
                                         independen sehingga masing-masing organ perusahaan                The Company had Code of Conduct which is functioned
                                         tidak saling mendominasi dan tidak dapat diintervensi oleh        as a guideline for the Company’s personnel in behaving
                                         pihak lain.                                                       professionally and with integrity. In addition, the Company
                                                                                                           also has Charter as aguide for each organ of the Company in
                                         In carrying out its activities, the company always prioritizes    carrying out its duties and responsibilities.
                                         honesty, treats all parties with respect, fulfills commitments,
                                         builds and maintains moral values and beliefs consistently.
                                         The company pays attention to the interests of shareholders
                                         and other stakeholders based on the principles of fairness and
                                         is managed independently so that each organ of the company
                                         does not dominate each other and cannot be intervened by
                                         other parties.




         Akuntabilitas                   Korporasi     dapat mempertanggungjawabkan kinerjanya             Perseroan menerapkan pertanggungjawaban atas kinerjanya
         Accountability                  secara transparan dan wajar. Untuk itu Korporasi harus            secara transparan dan wajar melalui Laporan Keuangan,
                                         dikelola secara benar, terukur dan sesuai dengan kepentingan      Laporan Tahunan dan Laporan Keberlanjutan yang dapat
                                         korporat dengan tetap memperhitungkan kepentingan                 diakses oleh pemangku kepentingan di situs web Perseroan.
                                         pemegang saham dan pemangku kepentingan. Akuntabilitas
                                         merupakan prasyarat yang diperlukan untuk mencapai kinerja        The Company implements accountability of its performance
                                         yang berkelanjutan.                                               transparently and reasonably through Financial Statement,
                                                                                                           Annual Report and Sustainability Report which may be
                                         The company can account for its performance transparently         accessed by the stakeholders in the Company’s website.
                                         and reasonably. As such, the company must be managed
                                         correctly, measurably and in accordance with company
                                         interests while taking into account the interests of
                                         shareholders and stakeholders. Accountability is a necessary
                                         prerequisite for achieving sustainable performance.




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 Prinsip-prinsip GCG                           Penjelasan                                              Penerapan di Perseroan
    GCG Principles                             Explanation                                            Application in the Company

Transparansi           Untuk menjaga obyektivitas dalam menjalankan bisnis,           Perseroan telah menyediakan berbagai informasi material dan
Transparency           korporasi menyediakan informasi yang material dan relevan      laporan yang relevan kepada para pemangku kepentingan
                       dengan cara yang mudah diakses dan dipahami oleh               yang dapat diakses di situs web Perseroan. Selain itu,
                       pemangku kepentingan. Korporasi mengambil inisiatif untuk      Perseroan juga telah menyediakan kanal informasi melalui:
                       mengungkapkan tidak hanya masalah yang disyaratkan oleh        1. Alamat Kantor
                       peraturan perundang-undangan, tetapi juga hal yang penting        KANTOR PUSAT
                       untuk pengambilan keputusan oleh pemegang saham,                  PT Sawit Sumbermas Sarana Tbk
                       kreditur dan pemangku kepentingan lainnya.                        Jl. H. Udan Said No. 47
                                                                                         Pangkalan Bun 74113
                       To maintain objectivity in conducting business, the company       Kalimantan Tengah, Indonesia
                       provides material and relevant information in a way that          t. +62 532 21297
                       is easily accessible and understood by stakeholders. The          f. +62 532 21396
                       Company takes the initiative to disclose not only issues
                       required by laws and regulations, but also those that are        KANTOR PERWAKILAN JAKARTA
                       important for decision-making by shareholders, creditors and     Equity Tower Lt. 43 Suite C - D
                       other stakeholders.                                              Jl. Jend. Sudirman Kav. 52-53
                                                                                        SCBD Lot 9 Jakarta 12190 - Indonesia
                                                                                        t. +62 21 2903 5401
                                                                                        f. +62 21 2903 5405

                                                                                      2. email:
                                                                                         - corporate@ssms.co.id
                                                                                         - commercial@ssms.co.id

                                                                                      3. Portal Media & Newsletter

                                                                                      The Company has provided several material and relevant
                                                                                      informations and reports to stakeholders which may be
                                                                                      accessed in the Company’s website. In addition, the Company
                                                                                      also has provided information channels through:

                                                                                      1. Office Address
                                                                                         HEAD OFFICE
                                                                                         PT Sawit Sumbermas Sarana Tbk
                                                                                         Jl. H. Udan Said No. 47
                                                                                         Pangkalan Bun 74113
                                                                                         Kalimantan Tengah, Indonesia
                                                                                         t. +62 532 21297
                                                                                         f. +62 532 21396

                                                                                        JAKARTA REPRESENTATIVE OFFICE
                                                                                        Equity Tower Lt. 43 Suite C - D
                                                                                        Jl. Jend. Sudirman Kav. 52-53
                                                                                        SCBD Lot 9 Jakarta 12190 - Indonesia
                                                                                        t. +62 21 2903 5401
                                                                                        f. +62 21 2903 5405

                                                                                      2. email:
                                                                                         - corporate@ssms.co.id
                                                                                         - commercial@ssms.co.id

                                                                                      3. Portal Media & Newsletter




Keberlanjutan          Korporasi mematuhi peraturan perundang-undangan serta          Seluruh kegiatan operasional Perseroan telah mematuhi
Sustainability         berkomitmen melaksanakan tanggung jawab terhadap               peraturan dan perundangan yang berlaku dan Perseroan
                       masyarakat dan lingkungan agar berkontribusi pada              telah melaksanakan tanggung jawab sosial dan lingkungan
                       pembangunan berkelanjutan melalui kerjasama dengan             melalui program CSR yang dapat dilihat informasinya melalui
                       semua pemangku kepentingan terkait untuk meningkatkan          Laporan Tahunan dan Laporan Keberlanjutan yang dapat
                       kehidupan mereka dengan cara yang selaras dengan               diakses di situs web Perseroan.
                       kepentingan bisnis dan agenda pembangunan berkelanjutan.
                                                                                      All of the Company’s operational activities haved complied
                       The Company complies with laws and regulations and is          with the applicable laws and regulations and the Company
                       committed to carrying out its responsibility towards society   has carried out social and environmental responsibilities
                       and the environment in order to contribute to sustainable      through CSR programs. Information of the Company’s CSR
                       development through cooperation with all relevant              programs may be seen in the Annual Report and Sustainability
                       stakeholders to improve community lives in a way that is in    Report that can be accessed in the Company’s website.
                       line with business interests and the sustainable development
                       agenda.



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       STRUKTUR TATA KELOLA PERUSAHAAN                                                         GOOD CORPORATE GOVERNANCE STRUCTURES

       Struktur Tata Kelola Perusahaan berdasarkan Undang-Undang                               Based on Law Number 40 of 2007 on Limited Liability Company,
       No. 40 tahun 2007 tentang Perseroan Terbatas, secara garis besar                        the Structure of Good Corporate Governance is outlined in the
       tergambar pada Organ Utama Perusahaan yaitu Rapat Umum                                  Company’s Main Organs i.e., GMS, BOC, and BOD. As set forth in
       Pemegang Saham (RUPS), Dewan Komisaris, dan Direksi. Masing-                            the Company’s Articles of Association and the applicable laws and
       masing Organ Tata Kelola Perusahaan memiliki peran penting                              regulations, every Organ of the Company’s Corporate Governance
       dalam keberhasilan pelaksanaan GCG dan pelaksanaan tugas,                               plays an important role in the successful implementation of GCG
       fungsi, dan tanggung jawabnya untuk kepentingan Perusahaan,                             and the execution of duties, functions and responsibilities for the
       sebagaimana dimaksud dalam Anggaran Dasar Perusahaan dan                                interests of the Company.
       peraturan perundang-undangan yang berlaku.




                                                                        Rapat Umum Pemegang saham (RUPS)
                                                                        General Meeting of Shareholders (GMS)




                                                                                 Dewan Komisaris
                                                                               Board of Commisioners




                                                                                       Direksi
                                                                                  Board of Directors




           Komite Nominasi & Remunerasi*                     Audit Internal                            Sekretaris Perusahaan                  Komite Audit
         Nomination & Remuneration Committee*                Internal Audit                             Corporate Secretary                  Audit Committee




                                          Akuntan Publik
                                         Public Accountant                                                                       *Komite ini kosong untuk sementara waktu
                                                                                                                                     *This committee is temporarily vacant




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KEBIJAKAN GCG DI SSMS                                            GCG’S POLICIES

Dalam rangka menjaga agar penerapan GCG di Perusahaan            Inorder to support proper implementation of GCG, the Company
berjalan baik, Perusahaan memiliki dan menerapkan kebijakan-     has and applies supporting policies and guidelines, as follows:
kebijakan maupun pedoman pedoman pendukung, antara lain:


1.  Peraturan Perusahaan                                         1.   Company Regulation
2.  Pedoman Tata Kelola Perusahaan yang Baik                     2.   GCG Guideliness
3.  Kode Etik                                                    3.   Code of Conducts
4.  Kebijakan Keberlanjutan                                      4.   Sustainability Policy
5.  Kebijakan Anti Korupsi                                       5.   Anti-Corruption Policy
6.  Kebijakan Hak Asasi Manusia                                  6.   Human Rights Policy
7.  Kebijakan Keanekaragaman Hayati                              7.   Biodiversity Policy
8.  Kebijakan Etika Bisnis                                       8.   Business Ethics Policy
9.  Kebijakan Mutu, Lingkungan, Keselamatan dan Kesehatan        9.   Quality, Health, Safety and Environment (QHSE) Policy
    Kerja
10. Kebijakan Tanpa Defortasi, Tanpa Gambut, Tanpa Eksploitasi   10. No Deforestation, Peat, Exploitation (NDPE) Policy
    (NDPE)
11. Piagam Audit Internal                                        11. Internal Audit Charter
12. Piagam Direksi                                               12. BOD Charter
13. Piagam Dewan Komisaris                                       13. BOC Charter
14. Piagam Komite Audit                                          14. Audit Committee Charter
15. Pedoman Whistleblowing System                                15. Guidelines on Whistleblowing System
16. Pedoman Manajemen Risiko                                     16. Guidelines on Risk Management
17. Pedoman Tata Kelola Teknologi Informasi dan Komunikasi       17. Guidelines on Information and Technology Management
18. Kebijakan Pengelolaan Informasi Perusahaan                   18. Policy on Company’s Information Management
19. Pedoman Pengadaan Barang/Jasa                                19. Guidelines on Goods/Services Procurement
20. Pedoman Akuntansi                                            20. Guidelines on Accounting
21. Pedoman Pengukuran Kepuasan Pelanggan                        21. Guidelines on Measuring Customer Satisfaction
22. Pedoman Penyusunan Laporan Keuangan                          22. Guidelines on Preparation of Financial Statements



SOSIALISASI DAN INTERNALISASI GCG                                SOCIALIZATION AND INTERNALIZATION OF GCG

Program sosialisasi dan internalisasi prinsip GCG merupakan      In strengthening the GCG implementation in SSMS, various
salah satu bagian dalam proses memperkuat implementasi GCG       dissemination programs and internalization of GCG principles
di SSMS. Perusahaan melakukan sosialisasi dan internalisasi      are carried out. The Company conducted dissemination and
pedoman-pedoman dan kebijakan yang dimiliki kepada seluruh       internalization of the Company’s Guidelines and Policies to all
pekerja SSMS dan mitra sebagai dasar implementasi prinsip-       Employees as a basis to apply GCG principles in conducting the
prinsip GCG dalam aktivitas Perusahaan. Sepanjang tahun          Company’s activities. Throughout 2023, the Company did not
2023, Perseroan belum melaksanakan sosialisasi secara khusus     carry out a specific dissemination regarding GCG guidelines and
mengenai pedoman dan kebijakan GCG yang dimiliki. Namun          policies owned by the Company. However, the Company has
Perseroan telah melaksanakan berbagai sosialisasi terkait kode   conducted several dissemination regarding the Company’s code
etik dan peraturan lain yang dimiliki Perseroan, baik kepada     of conduct and other regulations, both to employees and/or
karyawan maupun mitra kerja.                                     business partner.




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       RAPAT UMUM PEMEGANG SAHAM (RUPS)
       GENERAL MEETING OF SHAREHOLDERS (GMS)




       RUPS adalah organ tertinggi Perusahaan dan mempunyai            The GMS is the highest organ of the Company and has authorities
       wewenang yang tidak diberikan kepada Dewan Komisaris atau       that are not granted to the Board of Commissioners or the Board
       Direksi dalam batas yang ditentukan oleh Undang-Undang          of Directors within the limits stipulated by Law on the Limited
       Perseroan Terbatas dan/atau Anggaran Dasar Perusahaan.          Liability Company and/or the Company’s Articles of Association.
       Kekuasaan dalam RUPS lebih tinggi dibandingkan Direksi dan      Authority in the GMS is higher than the Board of Directors and the
       Dewan Komisaris. Melalui penyelenggaraan RUPS, pemegang         Board of Commissioners. Through holding the GMS, shareholders
       saham dapat menerima informasi penting mengenai Perusahaan      can receive important information regarding the Company and
       dan menggunakan haknya sehubungan dengan pengambilan            exercise their rights in connection with the Company’s strategic
       keputusan strategis Perusahaan.                                 decision making.



       DASAR HUKUM                                                     LEGAL REFERENCES

       1.   Undang-Undang No. 40 Tahun 2007 tentang Perseroan          1.   Law no. 40 year 2007 concerning Limited Liability Company
            Terbatas sebagaimana telah diubah sebagian dengan               as partially amended by Law no. 11 year 2020 concerning Job
            Undang-Undang No. 11 Tahun 2020 tentang Cipta Kerja;            Creation;
       2.   Peraturan Badan Pengawas Pasar Modal dan Lembaga           2.   Regulation of the Capital Market and Financial Institution
            Keuangan Nomor IX.J.1, Lampiran Keputusan Ketua Badan           Supervisory Agency Number IX.J.1, Attachment to the Decree
            Pengawas Pasar Modal dan Lembaga Keuangan No. KEP-179/          of the Chairman of the Capital Market and Financial Institution
            BL/2008 tanggal 14 Mei 2008 tentang pokok-pokok Anggaran        Supervisory Agency No. KEP-179/BL/2008 dated 14 May
            Dasar Perseroan yang Melakukan Penawaran Umum Efek              2008 concerning the main points of the Articles of Association
            Bersifat Ekuitas dan Perusahaan Publik;                         of Company that Conduct Public Offerings of Equity-Type
                                                                            Securities and Public Company;
       3.   Peraturan OJK No. 15/POJK.04/2020 tentang Rencana          3.   FSA Regulation No. 15/POJK.04/2020 concerning Plans and
            dan Penyelenggaraan Rapat Umum Pemegang Saham                   Implementation of General Meeting of Shareholders of Public
            Perusahaan Terbuka;                                             Company;
       4.   Peraturan OJK No. 16/POJK.04/2020 tentang Pelaksanaan      4.   FSA     Regulation    No.   16/POJK.04/2020        concerning
            Rapat Umum Pemegang Saham Perusahaan Terbuka Secara             Implementation of Electronic General Meeting of Shareholders
            Elektronik; dan                                                 of Public Company; and
       5.   Anggaran Dasar Perseroan                                   5.   Company’s Articles of Association




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WEWENANG RUPS                                                       GMS AUTHORITY

1. Memberikan        persetujuan      terhadap        Laporan       1. Give approval to the Accountability Report of Board of
   Pertanggungjawaban Dewan Komisaris dan Direksi atas                 Commissioners and Directors on the management of
   pengelolaan Perusahaan;                                             Company;
2. Mengangkat dan memberhentikan anggota Dewan Komisaris            2. Appoint and dismiss members of Board of Commissioners
   maupun Direksi;                                                     and Board of Directors;
3. Memberikan persetujuan atas pemberian paket remunerasi           3. Give approval for the proposed remuneration package for
   yang diusulkan bagi Dewan Komisaris serta Direksi;                  Board of Commissioners and Directors;
4. Memberikan persetujuan atas Laporan Tahunan yang                 4. Give approval for Annual Report submitted by Board of
   disampaikan oleh Direksi;                                           Directors;
5. Menunjuk dan memberhentikan Akuntan Publik yang akan             5. Appoint and dismiss Public Accountants who will be tasked
   bertugas untuk melakukan audit terhadap seluruh laporan             with auditing all of Company’s financial statements by
   keuangan perusahaan dengan mempertimbangkan usulan                  considering the recommendations of Board of Commissioners;
   Dewan Komisaris; dan                                                and
6. Memberikan persetujuan terhadap penggunaan laba bersih           6. Give approval for the use of Company’s net profit.
   Perusahaan.



HAK DAN WEWENANG PEMEGANG SAHAM DALAM RUPS                          RIGHTS AND AUTHORITY OF SHAREHOLDERS IN GMS

Pemegang saham adalah individu atau badan hukum yang                Shareholders are individuals or legal entities who legally own
secara sah memiliki saham Perusahaan. Sesuai dengan peraturan       shares of the Company. In accordance with the regulations of
Otoritas Jasa Keuangan (OJK), pemegang saham secara sendiri         the Financial Services Authority (OJK), shareholders individually
atau bersama-sama yang mewakili sekurang-kurangnya 1/10 dari        or jointly representing at least 1/10 of the total shares of the
jumlah seluruh saham Perseroan atau Dewan Komisaris dapat           Company or the Board of Commissioners may request the Board
meminta Direksi untuk memanggil dan menyelenggarakan RUPS           of Directors to call and convene an Extraordinary GMS. The
Luar Biasa. Permintaan tersebut harus disampaikan secara tertulis   request must be submitted in writing to the Board of Directors of
kepada Direksi Perseroan dengan menyebutkan hal-hal yang            the Company stating the matters to be discussed with the reasons
ingin dibicarakan disertai alasannya dan memenuhi ketentuan-        and fulfilling other provisions as required in the Company’s Articles
ketentuan lain sebagaimana disyaratkan dalam Anggaran Dasar         of Association.
Perseroan.


Wewenang yang dimiliki pemegang saham melalui RUPS                  The authority of shareholders through the GMS includes:
diantaranya meliputi:


1.   Menyetujui perubahan Anggaran Dasar Perseroan;                 1.   Approve amendments to the Company’s Articles of Association;
2.   Mengangkat dan memberhentikan anggota Direksi, dan             2.   Appoint and dismiss members of the Board of Directors, and
     anggota Dewan Komisaris;                                            members of the Board of Commissioners;
3.   Penunjukan kantor akuntan publik yang akan memberikan          3.   Appointment of a public accounting firm that will provide
     jasa audit atas informasi keuangan historis tahunan;                audit services on annual historical financial information;
4.   Hal-hal lain yang diajukan secara sebagaimana mestinya         4.   Other matters duly submitted in the GMS are in accordance
     dalam RUPS sesuai dengan ketentuan Anggaran Dasar.                  with the provisions of the Articles of Association.


Hak pemegang saham dalam RUPS antara lain:                          The rights of shareholders in the GMS include:


1.   Hak untuk menghadiri dan memberikan suara pada RUPS;           1.   The right to attend and vote at the GMS;
2.   Pada saat pelaksanaan RUPS, pemegang saham berhak              2.   At the time of the GMS, shareholders are entitled to obtain
     memperoleh informasi mata acara rapat dan bahan terkait             information on the agenda of the meeting and materials
     mata acara rapat sepanjang tidak bertentangan dengan                related to the agenda of the meeting as long as it does not
     kepentingan Perseroan;                                              conflict with the interests of the Company;
3.   Menerima bagian dari keuntungan Perseroan yang                 3.   Receive part of the Company’s profits intended for shareholders
     diperuntukkan bagi pemegang saham dalam bentuk deviden              in the form of dividends and other profit distribution in
     dan pembagian keuntungan lainnya sesuai ketentuan                   accordance with prevailing laws and regulations.
     peraturan-perundangan yang berlaku.




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       JENIS RUPS                                                               GMS TYPE

       Anggaran Dasar Perseroan memberlakukan 2 (dua) jenis RUPS,               Company’s Articles of Association enforce 2 (two) types of GMS,
       yaitu RUPS Tahunan, yang wajib diselenggarakan selambat-                 namely Annual GMS, which must be held no later than 6 (six)
       lambatnya 6 (enam) bulan setelah tahun buku Perseroan berakhir           months after the end of Company’s Fiscal Year and Extraordinary
       dan RUPS Luar Biasa yang dapat diselenggarakan sewaktu-waktu             GMS which can be held at any time if deemed necessary.
       apabila dirasakan perlu.


       Pelaksanaan RUPS Tahunan ataupun RUPS Luar Biasa pada                    Implementation of Annual GMS or Extraordinary GMS is in principle
       prinsipnya sama, yakni melalui proses pengumuman dan                     the same, namely through the announcement and summons
       pemanggilan yang dilakukan sesuai ketentuan Anggaran                     process which is carried out in accordance with the provisions of
       Dasar Perseroan dan POJK Nomor 15/POJK.04/2020 tentang                   Company’s Articles of Association and FSA Regulation Number
       Rencana dan Penyelenggaraan Rapat Umum Pemegang Saham                    15/POJK.04/2020 concerning Plans and Implementation of
       Perusahaan Terbuka.                                                      General Meetings of Shareholders of Public Company.



       TAHAPAN PENYELENGGARAAN RUPS                                             STAGES OF ORGANIZING GMS

       Tahapan penyelenggaraan RUPS di Perseroan mengacu pada                   The stages of holding GMS in Company refer to Company’s
       Anggaran Dasar Perseroan dan telah sesuai dengan POJK No.                Articles of Association and are in accordance with FSA Regulation
       15/POJK.04/2020 tentang Rencana dan Penyelenggaraan                      No. 15/POJK.04/2020 concerning Plans and Implementation of
       Rapat Umum Pemegang Saham Perusahaan Terbuka. Tahapan                    General Meeting of Shareholders of Public Company. The general
       penyelenggaraan RUPS secara umum adalah sebagai berikut:                 stages of holding a GMS are as follows:


                                        Tahapan Pelaksanaan RUPS SSMS sesuai POJK No. 15/POJK.04/2020
                               Stages of Implementation of the SSMS GMS after FSA Regulation No. 15/POJK.04/2020

                               5 Hari Kerja                             21 Hari Kerja
                             5 Working Days                           21 Working Days




               Pemberitahuan
                  mengenai
                tanggal RUPS
                                         Pengumuman                                                                             Pelaporan
               dan Mata Acara                               Pemanggilan                                  Ringkasan
                                         RUPS kepada                                                                           Berita Acara
                ke OJK (Surat                               RUPS kepada                                 Risalah Hasil
                                          Pemegang                                                                                RUPS
                  Tertutup)                                  Pemegang                   RUPS               RUPS
                                            Saham                                                                              kepada OJK
                                                               Saham
               Announcement                                                             GMS               Summary
                                              GMS                                                                              Reporting of
                regarding the                               GMS Invitation                               of the GMS
                                         Announcement                                                                         the minutes of
                 date of GMS                               to Shareholders                               Resolutions
                                         to Shareholders                                                                       GMS to OJK
                 and Agenda
               to OJK (sealed
                    letter)



                              14 Hari Kerja                                        2 Hari Kerja
                            14 Working Days                                      2 Working Days




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PENYELENGGARAAN RUPS DI TAHUN 2023                                             IMPLEMENTATION OF GMS IN 2023

Pada tahun 2023, Perusahaan melaksanakan 2 (dua) kali Rapat                    In 2023, the Company held 2 (two) the General Meeting of
Umum Pemegang Saham, yaitu Rapat Umum Pemegang Saham                           Shareholders (GMS), which took place on May 8, 2023 for the
Tahunan (RUPST) yang diselenggarakan pada 8 Mei 2023 dan                       Annual General Meeting of Shareholders (AGMS) and on December
Rapat Umum Pemegang Saham Luar Biasa dan Independen                            5, 2023 for the Extraordinary and Independent General Meeting of
pada 5 Desember 2023. Penyelenggaraan RUPST dilaksanakan                       Shareholders. The AGMS was conducted in adherence to health
dengan tetap mematuhi protokol kesehatan, di mana Perusahaan                   protocols; the Company restricted the physical attendance of
membatasi jumlah pemegang saham yang hadir secara fisik dan                    shareholders and provided electronic resources via the eAsy.
menyediakan fasilitas secara elektronik bagi pemegang saham                    KSEI platform for those who attended virtually. Online-present
yang hadir secara online melalui fasilitas eAsy. KSEI. Pemegang                shareholders retain the same rights pertaining to the exercise of
saham yang hadir secara daring tetap mempunyai hak yang sama                   their voting rights.
untuk dapat menyampaikan hak suaranya.



PELAKSANAAN RUPS TAHUNAN DI TAHUN 2023                                         IMPLEMENTATION OF ANNUAL GMS IN 2023

RUPS Tahunan SSMS di tahun 2023 dilaksanakan pada 8 Mei 2023                   Annual GMS of SSMS in 2023 held on May 8, 2023, with the
dengan informasi sebagai berikut:                                              following information:


Tahapan Penyelenggaraan RUPS Tahun Buku 2022 yang Diselenggarakan di Tahun 2023
Stages of GMS for Fiscal Year 2022 Held in 2023

Pemberitahun RUPS                                       14 Maret 2023    Pemberitahuan tentang rencana RUPST kepada OJK dan PT Bursa Efek Indonesia
Pemberitahuan     RUPST    kepada      Regulator        March 14, 2023   telah disampaikan dengan Surat No. 009/Corsec-SSMS/III/2023 perihal
disampaikan paling lambat 5 (lima) hari sebelum                          Pemberitahuan Mata Acara RUPST.
pengumuman RUPST
                                                                         Notification regarding AGMS plan has been submitted to FSA and PT Bursa Efek
GMS Notification                                                         Indonesia with Letter No. 009/Corsec-SSMS/III/2023 on Notification of AGMS
The notification of the AGMS to Regulator shall be                       Minutes Meeting Agenda.
made no later than 5 (five) days prior to the date of
the GMS Announcement.
Pengumuman RUPS                                         30 Maret 2023    Pengumuman telah dipublikasikan pada harian KONTAN serta disampaikan ke
Pengumuman RUPST disampaikan paling lambat 15           March 30, 2023   Otoritas Jasa Keuangan, Bursa Efek Indonesia, dan Situs web penyedia fasilitas
hari sebelum tanggal pemanggilan RUPS.                                   Electronic General Meeting System PT Kustodian Sentral Efek Indonesia (eASY.
                                                                         KSEI) serta dipublikasikan di situs Perusahaan.
GMS Announcement
The announcement of the AGMS shall be made                               The announcement has been published in daily KONTAN and submitted to to
no later than 15 days prior to the date of the GMS                       the Financial Services Authority, Indonesia Stock Exchange, and the website of
invitations.                                                             Electronic General Meeting System facility provider PT Kustodian Sentral Efek
                                                                         Indonesia (eASY.KSEI) and published on the Company's website.
Pemanggilan RUPS                                        14 April 2023    Iklan Pemanggilan RUPS telah dipublikasikan pada harian KONTAN serta
Pemanggilan RUPS disampaikan paling lambat 21           April 14, 2023   disampaikan ke Otoritas Jasa Keuangan, Bursa Efek Indonesia, dan Situs web
hari sebelum tanggal pelaksanaan RUPS.                                   penyedia fasilitas Electronic General Meeting System PT Kustodian Sentral Efek
                                                                         Indonesia (eASY.KSEI) serta dipublikasikan di situs Perusahaan.
GMS Invitations
The GMS invitations shall be submitted no later than                     GMS Invitations Advertisement has been published in daily KONTAN and
21 days prior to the GMS date.                                           submitted to the Financial Services Authority, Indonesia Stock Exchange, and
                                                                         Electronic General Meeting System facility provider PT Kustodian Sentral Efek
                                                                         Indonesia (eASY.KSEI) website and published on the Company's website.
Pelaksanaan RUPS                                         8 Mei 2023
GMS Implementation                                       May 8, 2023
Penyampaian Ringkasan Risalah RUPS                       10 Mei 2023     Penyampaian Ringkasan Risalah Acara RUPS kepada OJK dan IDX melalui Sarana
Ringkasan Risalah RUPS disampaikan paling lambat         May 10, 2023    Pelaporan Elektronik Terintegrasi Emiten Publik melalui surat No 036/Corsec-
2 hari setelah tanggal pelaksanaan RUPS.                                 SSMS/V/2023 dan melalui situs Perusahaan www.ssms.co.id.

Submission of Summary of GMS Minutes                                     Submission of Summary of GMS Minutes to OJK and IDX through the Integrated
Summary of GMS Minutes shall be submitted no                             Electronic Reporting Facility of Public Issuers through letter No. 036/Corsec-
later than 2 days after the GMS date.                                    SSMS/V/2023 and through the Company’s website www.ssms.co.id.
Penyampaian Risalah/Berita Acara RUPS                     6 Juni 2023    Penyampaian Risalah/Berita Acara RUPS kepada OJK dan IDX melalui Sarana
Risalah/Berita Acara RUPS disampaikan paling             June 6, 2023    Pelaporan Elektronik Terintegrasi Emiten Publik 043/CORSEC-SSMS/VI/2023
lambat 30 hari setelah tanggal pelaksanaan RUPS.                         dan melalui situs Perusahaan www.ssms.co.id.

Submission of Minutes/Deeds of GMS                                       Submission of Minutes/Minutes of GMS to OJK and IDX through the Integrated
Minutes of GMS shall be submitted no later than 30                       Electronic Reporting Facility of Public Issuers 043/CORSEC-SSMS/VI/2023 and
days after the GMS date.                                                 through the Company’s website www.ssms.co.id.



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       RUPS TAHUNAN TANGGAL 8 MEI 2023                                     ANNUAL GMS ON MAY 8, 2023

       1.   Waktu dan Tempat                                               1.   Time and Place
            a. Hari/Tanggal:                                                    a. Day/Date:
               Senin, 8 Mei 2023                                                   Monday, May 8, 2023
            b. Tempat:                                                          b. Place:
               Financial Hall, Graha CIMB Niaga Lantai 2, Jl. Jend.                Financial Hall, Graha CIMB Niaga Lantai 2, Jl. Jend.
               Sudirman Kav. 58, Jakarta 12190                                     Sudirman Kav. 58, Jakarta 12190


       2. Kuorum                                                           2. Quorum
          RUPS Tahunan dihadiri oleh pemegang saham serta                     The Annual GMS was attended by shareholders and
          perwakilan/kuasa dari pemegang saham sebanyak                       representatives/proxies of 6,934,157,505 shareholders or
          6.934.157.505 saham atau 72,800% dari 9.525.000.000 saham           72.800% of 9,525,000,000 shares which are all shares issued
          yang merupakan seluruh saham yang telah dikeluarkan oleh            by the Company. Thus, the quorum required in the Company’s
          Perseroan. Dengan demikian, kuorum yang disyaratkan dalam           Articles of Association has been fulfilled and therefore the
          Anggaran Dasar Perusahaan telah dipenuhi dan karenanya              Annual GMS is valid and has the rights to make valid and
          RUPS Tahunan adalah sah dan berhak untuk mengambil                  binding decisions regarding matters discussed in accordance
          keputusan yang sah dan mengikat mengenai hal-hal yang               with the agenda of the Annual GMS
          dibicarakan sesuai dengan agenda RUPS Tahunan.


       3. Kehadiran Dewan Komisaris dan Direksi                            3. The presence of the Board of Commissioners and Directors
          Pelaksanaan RUPS Tahunan Tahun Buku 2022 dihadiri oleh              The Annual GMS for Fiscal Year 2022 was attended by
          anggota Dewan Komisaris dan Direksi, yaitu:                         members of the Board of Commissioners and Board of
                                                                              Directors, namely:


            Direksi                                                             Board of Directors
            1. Nasarudin bin Nasir selaku Direktur Utama                        1. Nasarudin bin Nasir as President Director
            2. Jap Hartono selaku Direktur                                      2. Jap Hartono as Director
            3. Muhammad Syafril Harahap selaku Direktur                         3. Muhammad Syafril Harahap as Director


            Dewan Komisaris                                                     Board of Commissioners
            1. Prof. Dr. Ir. Bungaran Saragih selaku Komisaris Utama            1. Prof. Dr. Ir. Bungaran Saragih as President Commissioner
            2. Ir. Rimbun Situmorang selaku Komisaris                           2. Ir. Rimbun Situmorang as Commissioner
            3. Hoesen selaku Komisaris Independen                               3. Hoesen as Independent Commissioner


       4. Kehadiran Lembaga dan Profesi Penunjang Pasar Modal              4. The presence of Capital Market Supporting Institutions and
                                                                              Professionals
            Dalam melakukan proses penghitungan suara dan/atau                In conducting the vote counting process and/or validating, the
            melakukan validasi, Perseroan dibantu oleh Biro Administrasi      Company is assisted by the Securities Administration Bureau
            Efek PT Datindo Entrycom dan Notaris Aulia Taufani SH.            of PT Datindo Entrycom and Notary Aulia Taufani SH.


       5. Agenda RUPST                                                     5. AGMS Agenda
          a. Persetujuan Laporan Tahunan dan Pengesahan Laporan               a. Approval of Annual Report and Ratification of Annual
             Keuangan Tahunan Tahun Buku 2022.                                   Financial Statements for Fiscal Year 2022.
          b. Persertujuan penggunaan laba bersih Tahun Buku 2022.             b. Approval of the use of net profit for Fiscal Year 2022.
          c. Persetujuan Penunjukan Akuntan Publik dan/atau Kantor            c. Approval of the Appointment of a Public Accountant and/
             Akuntan Publik untuk melakukan Tahun Buku 2023.                     or Public Accountant Firm to carry out Fiscal Year 2023.


       6. Keputusan RUPST                                                  6. AGMS Resolutions
          a. Menyetujui dan      menerima Laporan Direksi yaitu               a. Approve and accept Board of Directors’ Report,
             Persetujuan mengenai Laporan tahunan dan Laporan                    namely Approval regarding Annual report and Annual
             Keuangan Tahunan Tahun Buku 2022 termasuk Laporan                   Financial Report for Fiscal Year 2021 including Board of
             Tugas Pengawasan Dewan Komisaris.                                   Commissioners Supervisory Task Report.
          b. Mengesahkan Laporan Keuangan Perseroan untuk tahun               b. Ratify the Company’s Financial Statements for the financial
             buku yang berakhir pada tanggal 31 Desember 2022                    year ending December 31, 2022 which had been audited
             yang telah diaudit oleh Kantor Akuntan Publik (KAP)                 by Purwanto, Sungkoro & Surja Public Accounting Firm
             Purwanto, Sungkoro & Surja sesuai dengan laporannya                 through its report No. 00422/2.1032/AU.1/01/0687-2/1/
             No. 00422/2.1032/AU.1/01/0687-2/1/III/2023 dengan                   III/2023 with Fair opinions in all material respects.
             opini wajar dalam semua hal yang material.




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     c. Memberikan pelunasan dan pembebasan sepenuhnya                     c.   Grant the release and discharge (volledig acquit et de
        (volledig acquit et de charge) kepada setiap anggota                    charge) for each Board of Commissioners and Directors
        Direksi dan Dewan Komisaris atas tindakan pengurusan                    for the supervisory and management actions performed
        dan pengawasan yang telah dijalankan selama tahun buku                  during financial year ending December 31, 2022, to the
        yang berkahir pada tanggal 31 Desember 2022 sejauh                      extent that their actions were reflected in the Company’s
        tindakan tersebut tercermin dalam Laporan Keuangan                      Annual Report unless embezzlement, fraud and other
        Perseroan kecuali perbuatan penggelapan, penipuan dan                   criminal acts.
        tindak pidana lainnya.
     d. Menyetujui penggunaan laba bersih Perseroan untuk                  d. Approve the use of Company’s net profit for Fiscal
        tahun buku yang berakhir pada tanggal 31 Desember                     Year ending December 31, 2022 in the amount of
        2022 sebesar Rp1.848.118.978.000 (satu triliun delapan                IDR1,848,118,978,000 (one trillion eight hundred forty eight
        ratus empat puluh delapan miliar seratus delapan belas                billion one hundred eighteen million nine hundred seventy
        juta sembilan ratus tujuh puluh delapan ribu rupiah) untuk            eight thousand rupiah) to be used as follows:
        digunakan sebagai berikut:
        • Sebesar Rp369.623.795.600 atau 20% dari laba bersih                   •   An amount of IDR369,623,795,600 or 20% of the net
            akan disihkan sebagai cadangan wajib;                                   profit will be set aside as a mandatory reserve;
        • Sebesar Rp710.985.556.400 atau sejumlah Rp74,64 per                   •   An amount of IDR710,985,556,400 or IDR74,64 per
            saham atau 38% dari laba bersih didistribusikan sebagai                 share or 38% of the net profit is distributed as interim
            dividen interim kepada pemegang saham secara                            dividends to shareholders proportionally according to
            proporsional sesuai persentase kepemilikan sahamnya.                    their percentage of share ownership. Interim dividends
            Adapun dividen interim ini telah didistribusikan kepada                 has been distributed to shareholders on October 28,
            pemegang saham pada tanggal 28 Oktober 2022, sesuai                     2022, in accordance to the provisions in the Company’s
            dengan ketentuan dalam Anggaran Dasar Perseroan                         Articles of Association and Capital Market regulations.
            dan Peraturan Pasar Modal.
        • Sebesar Rp710.985.556.400 atau sejumlah Rp74,64 per                   •    An amount of IDR710,985,556,400 or IDR74,64 per
            saham atau 38% dari laba bersih didistribusikan sebagai                  share or 38% of the net profit is distributed as annual
            dividen tahunan kepada pemegang saham secara                             dividends to shareholders proportionally according to
            proporsional sesuai persentase kepemilikan sahamnya.                     their percentage of share ownership.
            Berdasarkan ketentuan yang berlaku di pasar modal,                       Based on the provisions in force in the capital
            yang berhak atas dividen tunai adalah pemegang                           market, those who are entitled to cash dividends
            saham yang namanya tercatat dalam Daftar Pemegang                        are shareholders whose names are registered in the
            Saham tanggal 19 Mei 2023 pukul 16.00 WIB. Adapun                        Register of Shareholders on May 19, 2023, at 04.00 PM.
            pembayaran dividen tunai akan dilakukan pada 8 Juni                      The cash dividend payment will be made on June 8,
            2023.                                                                    2023.
        • Sisa dari laba bersih Perseroan, yaitu sebesar                        • The remainder of Company’s net profit, which is
            Rp56.524.069.600 akan dimasukan sebagai cadangan                         IDR56,524,069,600 will be included as other reserves
            lainnya yang akan menambah saldo laba ditahan.                           which will add to the balance of retained earnings.
     e. Menyetujui untuk memberikan wewenang dan kuasa                     c.   Approve to grant authority and power to Company’s Board
        kepada Dewan Komisaris Perseroan untuk menunjuk                         of Commissioners to appoint an independent Public
        Kantor Akuntan Publik independen untuk melakukan audit                  Accounting Firm to audit Company’s Financial Statements
        Laporan Keuangan Perseroan tahun buku yang berakhir                     for Fiscal Year ending 31 December 2023, and to determine
        pada tanggal 31 Desember 2023, serta menetapkan biaya                   audit fees and other requirements, including to appoint a
        audit dan persyaratan lainnya, termasuk untuk menunjuk                  replacement Public Accounting Firm, if Public Accountant
        Kantor Akuntan Publik pengganti, apabila Kantor Akuntan                 Firm who has been appointed cannot continue or carry out
        Publik yang telah ditunjuk tidak dapat melanjutkan                      his duties for any reason based on laws and regulations.
        atau melaksanakan tugasnya karena sebab apapun
        berdasarkan peraturan perundangan.


7.   Realisasi Keputusan RUPST                                        7.   Realization of AGMS Resolutions
     a. Keputusan agenda pertama telah terealisasikan                      a. The results of the first agenda have been realized
     b. Keputusan agenda kedua telah terealisasikan, Perseroan             b. The second agenda decision has been realized; the
        telah membagikan dividen interim pada 28 Oktober 2022                  Company has distributed interim dividends on October 28,
        dan dividen tunai pada 8 Juni 2023.                                    2022, and cash dividends on June 8, 2023.
     c. Keputusan     agenda     ketiga     telah terealisasikan           c. The resolution for 3th agenda has been realized based
        berdasarkan Keputusan Dewan Komisaris tanggal 29 Mei                   on Resolutions of the Board of Commissioners of the
        2023, Perseroan telah menunjuk Kantor Akuntan Publik                   Company dated May 29, 2023, The Company has appointed
        Purwantono, Sungkoro & Surjo (E&Y) untuk melakukan                     Purwantono, Sungkoro & Surjo (E&Y) Public Accounting
        audit atas laporan keuangan dan buku-buku Perseroan                    Firm to audit the Company’s financial statements and
        untuk tahun buku yang berakhir pada tanggal 31 Desember                books for the financial year ended December 31, 2023.
        2023.



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       PELAKSANAAN RUPS LUAR BIASA DAN INDEPENDEN DI                                     IMPLEMENTATION     OF                   EXTRAORDINARY               AND
       TAHUN 2023                                                                        INDEPENDENT GMS IN 2023

       RUPS Luar Biasa dan Independen SSMS di tahun 2023 dilaksanakan                    Extraordinary and Independent GMS of SSMS in 2023 held on
       pada 5 Desember 2023 dengan informasi sebagai berikut:                            December 5, 2023, with the following information:




        Tahapan Penyelenggaraan RUPS Luar Biasa dan Independen yang Diselenggarakan di Tahun 2023
        Stages of Extraordinary and Independent GMS in 2023


        Pemberitahun RUPS                                       20 Oktober 2023     Pemberitahuan tentang rencana RUPST kepada OJK dan PT Bursa Efek
        Pemberitahuan RUPS Luar Biasa dan Independen            October 20, 2023    Indonesia telah disampaikan dengan Surat No. 071/Corsec-SSMS/X/2023
        kepada Regulator disampaikan paling lambat 5                                perihal Pemberitahuan Mata Acara RUPS Luar Biasa dan Independen.
        (lima) hari sebelum pengumuman RUPS
                                                                                    Notification regarding AGMS plan has been submitted to FSA and PT Bursa
        GMS Notification                                                            Efek Indonesia with Letter No. 071/Corsec-SSMS/X/202 on Notification of
        The notification of the Extraordinary and Independent                       Extraordinary and Independent GMS Minutes of Meeting Agenda.
        GMS to Regulator shall be made no later than 5 (five)
        days prior to the date of the GMS Announcement.

        Pengumuman RUPS                                          27 Oktober 2023    Pengumuman telah dipublikasikan serta disampaikan ke Otoritas Jasa
        Pengumuman RUPS disampaikan paling lambat 15             October 27, 2023   Keuangan, Bursa Efek Indonesia, dan Situs web penyedia fasilitas Electronic
        hari sebelum tanggal pemanggilan RUPS.                                      General Meeting System PT Kustodian Sentral Efek Indonesia (eASY.KSEI) serta
                                                                                    dipublikasikan di situs Perusahaan.
        GMS Announcement
        The announcement of the GMS shall be made                                   The announcement has been published and submitted to to the Financial
        no later than 15 days prior to the date of the GMS                          Services Authority, Indonesia Stock Exchange, and the website of Electronic
        invitations.                                                                General Meeting System facility provider PT Kustodian Sentral Efek Indonesia
                                                                                    (eASY.KSEI) and published on the Company’s website.

        Pemanggilan RUPS                                        13 November 2023    Iklan Pemanggilan RUPS telah dipublikasikan serta disampaikan ke Otoritas Jasa
        Pemanggilan RUPS disampaikan paling lambat 21           November 13, 2023   Keuangan, Bursa Efek Indonesia, dan Situs web penyedia fasilitas Electronic
        hari sebelum tanggal pelaksanaan RUPS.                                      General Meeting System PT Kustodian Sentral Efek Indonesia (eASY.KSEI) serta
                                                                                    dipublikasikan di situs Perusahaan.
        GMS Invitations
        The GMS invitations shall be submitted no later than                        GMS Invitations Advertisement has been published and submitted to the
        21 days prior to the GMS date.                                              Financial Services Authority, Indonesia Stock Exchange, and Electronic General
                                                                                    Meeting System facility provider PT Kustodian Sentral Efek Indonesia (eASY.
                                                                                    KSEI) website and published on the Company’s website.

        Pelaksanaan RUPS                                        5 Desember 2023
        GMS Implementation                                      December 5, 2023

        Penyampaian Ringkasan Risalah RUPS                      6 Desember 2023     Perusahaan telah mempublikasikan Penyampaian Ringkasan Risalah RUPS
        Ringkasan Risalah RUPS disampaikan paling lambat        December 6, 2023    melalui situs Perseroan, dan situs Bursa Efek Indonesia melalui no surat 095/
        2 hari setelah tanggal pelaksanaan RUPS.                                    Corsec-SSMS/XII/2023.

        Submission of Summary of GMS Minutes                                        The Company has published the Summary of GMS Minutes through the
        Summary of GMS Minutes shall be submitted no                                Company’s website, and the Indonesia Stock Exchange website through letter
        later than 2 days after the GMS date.                                       number 095/Corsec-SSMS/XII/2023.

        Penyampaian Risalah/Berita Acara RUPS                   12 Desember 2023    Penyampaian Risalah/Berita Acara RUPS kepada OJK dan IDX melalui sarana
        Risalah/Berita Acara RUPS disampaikan paling            December 12, 2023   Pelaporan Elektronik Terintegrasi Emiten Publik dan surat kepada OJK dan BEI
        lambat 30 hari setelah tanggal pelaksanaan RUPS.                            No. 100/Corsec-SSMS/XII/2023

        Submission of Minutes/Deeds of GMS                                          Submission of Deeds/Minutes of GMS to OJK and IDX through the means of
        Minutes of GMS shall be submitted no later than 30                          Integrated Electronic Reporting of Public Issuers and letter to OJK and BEI No.
        days after the GMS date.                                                    100/Corsec-SSMS/XII/2023.




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RUPS LUAR BIASA DAN INDEPENDEN TANGGAL 5                            EXTRAORDINARY AND                INDEPENDENT             GMS          ON
DESEMBER 2023                                                       DECEMBER 5, 2023

1.   Waktu dan Tempat                                               1.   Time and Place
     a. Hari/Tanggal:                                                    a. Day/Date:
        5 Desember 2023                                                     December 5, 2023
     b. Tempat:                                                          b. Place:
        Financial Hall, Graha CIMB Niaga Lantai 2, Jl. Jend.                Financial Hall, Graha CIMB Niaga Lantai 2, Jl. Jend.
        Sudirman Kav. 58, Jakarta 12190                                     Sudirman Kav. 58, Jakarta 12190


2. Kuorum                                                           2. Quorum
   RUPS Luar Biasa dan Independen dihadiri oleh pemegang               The Extraordinary and Independent GMS was attended by
   saham serta perwakilan/kuasa dari pemegang saham                    shareholders and representatives/proxies of 7,578,711,161
   sebanyak 7.578.711.161 saham atau 79,5665214% dari                  shareholders or 79.5665214% of 9,525,000,000 shares which
   9.525.000.000 saham yang merupakan seluruh saham yang               are all shares issued by the Company. Thus, the quorum
   telah dikeluarkan oleh Perseroan. Dengan demikian, kuorum           required in the Company’s Articles of Association has been
   yang disyaratkan dalam Anggaran Dasar Perusahaan telah              fulfilled and therefore the Extraordinary and Independent
   dipenuhi dan karenanya RUPS Luar Biasa dan Independen               GMS is valid and has the rights to make valid and binding
   adalah sah dan berhak untuk mengambil keputusan yang                decisions regarding matters discussed in accordance with the
   sah dan mengikat mengenai hal-hal yang dibicarakan sesuai           agenda of the Extraordinary and Independent GMS
   dengan agenda RUPS Luar Biasa dan Independen.


3. Kehadiran Dewan Komisaris dan Direksi                            3. The presence of the Board of Commissioners and Directors
   Pelaksanaan RUPS Luar Biasa dan Independen dihadiri oleh            The Extraordinary and Independent GMS was attended
   anggota Dewan Komisaris dan Direksi, yaitu:                         by members of the Board of Commissioners and Board of
                                                                       Directors, namely:


     Direksi                                                             Board of Directors
     1. Jap Hartono selaku Direktur                                      1. Jap Hartono as Director
     2. Muhammad Syafril Harahap selaku Direktur                         2. Muhammad Syafril Harahap as Director


     Dewan Komisaris                                                     Board of Commissioners
     1. Prof. Dr. Ir. Bungaran Saragih selaku Komisaris Utama            1. Prof. Dr. Ir. Bungaran Saragih as President Commissioner
     2. Ir. Rimbun Situmorang selaku Komisaris                           2. Ir. Rimbun Situmorang as Commissioner
     3. Hoesen selaku Komisaris Independen                               3. Hoesen as Independent Commissioner


4. Kehadiran Lembaga dan Profesi Penunjang Pasar Modal              4. The presence of Capital Market Supporting Institutions and
                                                                       Professionals
     Dalam melakukan proses penghitungan suara dan/atau                In carrying out the vote counting process and/or conducting
     melakukan validasi, Perseroan dibantu oleh Biro Administrasi      validation, the Company was assisted by the Securities
     Efek PT Datindo Entrycom, Notaris Aulia Taufani SH, dan           Administration Bureau PT Datindo Entrycom and Notary
     Konsultan Hukum, Hermawan Juniarto & Partners                     Aulia Taufani SH, and Legal Consultant, Hermawan Juniarto &
                                                                       Pertners.


5. Agenda RUPSLB dan Independen                                     5. Extraordinary and Independent GMS Agenda
   1. Persetujuan pengangkatan Kembali susuna Dewan                    1. Approval of Changes in the Composition of Board of
      Komisaris                                                            Commissioners
   2. Persetujuan untuk melakukan penyelesaian utang PT                2. Approval to settle the debt of PT Citra Borneo Indah (“CBI”)
      Citra Borneo Indah (“CBI”) kepada Perseroan dengan                   to the Company by handing over shares of PT Citra Borneo
      melakukan penyerahan saham PT Citra Borneo Utama                     Utama Tbk (“CBUT”) in one stage for the shares owned
      Tbk (“CBUT”) dalam satu tahapan atas saham yang dimiliki             by CBI to the Company where is the transaction of debt
      oleh CBI kepada Perseroan di mana transaksi penyelesaian             settlement constitutes Affiliate Transactions as referred
      utang tersebut merupakan Transaksi Afiliasi sebagaimana              to Financial Services Authority (“OJK”) Regulation N0. 42/
      dimaksud dalam Peraturan Otoritas Jasa Keuangan (“OJK”)              POJK.04/2020 regarding Affiliate and Conflict of Interest
      N0. 42/POJK.04/2020 tentang Transaksi Afiliasi dan                   Transactions and are Material Transactions as intended in
      Transaksi Benturan Kepentingan dan merupakan Transaksi               OJK Regulation No. 17/POJK.04/2020 concerning Material
      Material sebagaimana dimaksud dalam Peraturan OJK                    Transactions and Changes in Business Activities.
      No. 17/POJK.04/2020 tentang Transaksi Material dan dan
      Perubahan Kegiatan Usaha.




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       6. Keputusan RUPSLB dan Independen                                  6. Extraordinary and Independent GMS Resolutions
          a. Mengangkat kembali Komisaris Utama Perseroan yaitu               a. Reappointment the Company’s President Commissioner,
             Bapak Bungaran Saragih untuk masa jabatan sesuai                     namely Mr. Bungaran Saragih for a term of office according
             dengan ketentuan yang diatur dalam Anggaran Dasar                    to the provisions in the Company’s Articles of Association.
             Perseroan.                                                       b. Approve to accept, recognize, and ratify all acts performed
          b. Memberikan persetujuan untuk menerima, mengakui,                     by Mr. Bungaran Saragih as President Commissioner of
             meratifikasi dan mengesahkan seluruh tindakan-tindakan               the Company since the Annual GMS for the 2022 financial
             yang diambil oleh Bapak Bungaran Saragih sebagai                     year until the closing of this meeting, to the extent that the
             Komisaris Utama Perseroan sejak RUPS Tahunan Tahun                   management and supervision actions were reflected in
             buku 2022 hingga ditutupnya Rapat ini, sejauh tindakan               the Company’s reporting and do not constitute a criminal
             pengurusan dan pengawasan tersebut tercermin dalam                   act. In connection with this decision, the composition of
             buku-buku Perseroan dan bukan merupakan tindak                       the members of the Company’s Board of Directors and
             pidana. Sehubungan dengan keputusan tersebut, maka                   Commissioners is as follows:
             susunan anggota Direksi dan Dewan Komisaris Perseroan
             menjadi sebagai berikut:


                 DIREKSI                                                            BOARD OF DIRECTORS
                 1. Direktur Utama: NASARUDIN bin NASIR                             1. President Director: NASARUDIN bin NASIR
                 2. Direktur: JAP HARTONO                                           2. Director: JAP HARTONO
                 3. Direktur: MUHAMMAD SYAFRIL HARAHAP                              3. Director: MUHAMMAD SYAFRIL HARAHAP


                 DEWAN KOMISARIS                                                    BOARD OF COMMISSIONERS
                 1. Komisaris Utama: Prof. Dr. Ir. BUNGARAN SARAGIH                 1. President Commissioner: Prof. Dr. Ir. BUNGARAN
                                                                                       SARAGIH
                 2.   Komisaris: Ir. RIMBUN SITUMORANG                              2. Commissioner: Ir. RIMBUN SITUMORANG
                 3.   Komisaris Independen: HOESEN                                  3. Independent Commissioner: HOESEN


            c. Pengangkatan sebagaimana dimaksud dalam point 1,                c. The appointment as referred to in point 1 above does not
               tidak menutup hak pemegang saham Perseroan untuk                   close the rights of Company’s Shareholders to be able to
               dapat sewaktu-waktu memberhentikan anggota Dewan                   dismiss members of Company’s Board of Commissioners
               Komisaris dan Direksi Perseroan tersebut.                          and Board of Directors at any time.
            d. Memberikan kuasa kepada setiap anggota Direksi                  d. Granting of power of attorney to each member of Directors
               dengan hak substitusi untuk menyatakan keputusan                   with the right of substitution to state the resolutions of the
               Rapat tersebut dalam akta Notaris dan selanjutnya                  Meeting in a Notary deed and subsequently notify the
               memberitahukan perubahan susunan anggota Direksi                   changes in the composition of the members of Company’s
               Perseroan tersebut kepada Menteri Hukum dan Hak Asasi              Board of Directors to the Minister of Law and Human Rights
               Manusia serta mendaftarkan pada Daftar Perusahaan                  and register them in Company Register in accordance with
               sesuai dengan peraturan perundangan yang berlaku.                  the applicable statutory regulations.
            e. Menyetujui penyelesaian utang PT Citra Borneo Indah             e. Approve the debt settlement of PT Citra Borneo Indah
               (“CBI”) kepada Perseroan dengan melakukan penyerahan               (“CBI”) to the Company by handing over shares of PT Citra
               saham PT Citra Borneo Utama Tbk (“CBUT”) dalam satu                Borneo Utama Tbk (“CBUT”) in one stage for the shares
               tahapan atas saham yang dimiliki oleh CBI kepada                   owned by CBI to the Company where is the transaction
               Perseroan dimana transaksi penyelesaian utang tersebut             of debt settlement constitutes Affiliate Transactions as
               merupakan Transaksi Afiliasi sebagaimana dimaksud                  referred to Financial Services Authority (“OJK”) Regulation
               dalam Peraturan Otoritas Jasa Keuangan (“POJK”) No.42/             N0. 42/POJK.04/2020 regarding Affiliate and Conflict
               POJK.04/2020 Tentang Transaksi Afiliasi dan Transaksi              of Interest Transactions and are Material Transactions
               Benturan Kepentingan (“POJK 42/2020”) dan merupakan                as intended in OJK Regulation No. 17/POJK.04/2020
               Transaksi Material sebagaimana dimaksud dalam                      concerning Material Transactions and Changes in Business
               Peraturan OJK No.17/POJK.04/2020 Tentang Transaksi                 Activities.
               Material dan Perubahan Kegiatan Usaha (“POJK 17/2020”).
            f. Memberikan persetujuan dan kewenangan kepada Direksi            f.   Granting approval and authority to The Company’s
               Perseroan, dengan hak substitusi, sesuai dengan anggaran             Directors with the right of substitution according to the
               dasar Perseroan, untuk membuat, melaksanakan,                        Company’s Articles of Association to create, implement,
               menandatangani       dan/atau      menyerahkan      serta            sign and/or submit and carry out every agreement and
               melaksanakan setiap perjanjian-perjanjian dan tindakan-              actions required in connection with the debt settlement
               tindakan yang diperlukan sehubungan dengan transaksi                 transaction and all related documents with the debt
               penyelesaian utang serta seluruh dokumen yang terkait                settlement transaction, including all changes and additions
               dengan transaksi penyelesaian utang tersebut, termasuk               to it with terms and conditions deemed appropriate by the
               seluruh perubahan dan tambahan atasnya dengan syarat                 Company’s Board of Directors.
               dan ketentuan yang dianggap baik oleh Direksi Perseroan.



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7.   Realisasi Keputusan RUPSLB dan Independen                      7.   Realization of Extraordinary and Independent GMS
                                                                         Resolutions
     Seluruh keputusan tersebut telah direalisasikan Pada tanggal        All decisions have been realized by December 20, 2023.
     20 Desember 2023.



REALISASI KEPUTUSAN RUPS DI TAHUN 2022                              REALIZATION OF GMS RESOLUTIONS IN 2022

Di tahun 2022, Perseroan menyelenggarakan RUPS sebanyak             In 2022, Company held 4 (four) GMS, namely Annual GMS for
4 (empat) kali, yaitu RUPS Tahunan Tahun Buku 2021 yang             the 2021 fiscal year which held on May 23, 2022, and 3 (three)
diselenggarakan pada 23 Mei 2022, dan RUPS Luar Biasa sebanyak      Extraordinary GMS, each of which held on January 7, 2022, May
3 (tiga) kali yang masing-masing diselenggarakan pada 7 Januari     23, 2022, and September 30, 2022. GMS resolutions in 2022 and its
2022, 23 Mei 2022, dan 30 September 2022. Berikut Keputusan         realizations are as follows:
RUPS di Tahun 2022 dan Realisasinya:


RUPS TAHUNAN TANGGAL 23 MEI 2022                                    ANNUAL GMS ON MAY 23, 2022

1.   Agenda RUPS Tahunan                                            1.   AGMS Agenda
     a. Persetujuan Laporan Tahunan dan Pengesahan Laporan               a. Approval of Annual Report and Ratification of Annual
        Keuangan Tahunan Tahun Buku 2021.                                   Financial Statements for Fiscal Year 2021.
     b. Persetujuan penggunaan laba bersih Tahun Buku 2021.              b. Approval of the use of net profit for Fiscal Year 2021.
     c. Persetujuan Penunjukan Akuntan Publik dan/atau Kantor            c. Approval of the Appointment of a Public Accountant and/
        Akuntan Publik untuk melakukan Tahun Buku 2022.                     or Public Accountant Firm to carry out Fiscal Year 2022.


2. Keputusan RUPS Tahunan                                           2. AGMS Resolutions
   a. Menyetujui dan menerima Laporan Direksi yaitu                    a. Approve and accept Board of Directors’ Report,
      Persetujuan mengenai Laporan tahunan dan Laporan                    namely Approval regarding Annual report and Annual
      Keuangan Tahunan Tahun Buku 2021 termasuk Laporan                   Financial Report for Fiscal Year 2021 including Board of
      Tugas Pengawasan Dewan Komisaris                                    Commissioners Supervisory Task Report
   b. Menyetujui penggunaan laba bersih Perseroan untuk tahun          b. Approve the use of Company’s net profit for Fiscal
      buku yang berakhir pada tanggal 31 Desember 2021 sebesar            Year ending December 31, 2021 in the amount of
      Rp1.526.870.874.000 (satu triliun lima ratus dua puluh enam         IDR1,526,870,874,000 (one trillion five hundred twenty
      miliar delapan ratus tujuh puluh juta delapan ratus tujuhh          six billion eight hundred seventy million eight hundred
      puluh empat ribu rupiah) untuk digunakan sebagai berikut:           seventy four thousand rupiah) to be used as follows:
      • Sebesar Rp305.374.174.800 atau 20% dari laba bersih               • An amount of IDR305,374,174,800 or 20% of the net
          akan disihkan sebagai cadangan wajib;                               profit will be set aside as a mandatory reserve;
      • Sebesar Rp763.435.437.000 atau 50% dari laba                      • An amount of IDR763,435,437,000 or 50% of the net
          bersih didistribusikan sebagai dividen tunai kepada                 profit is distributed as cash dividends to shareholders
          pemegang saham secara proporsional sesuai                           proportionally according to their percentage of share
          persentase kepemilikan sahamnya.                                    ownership.
          Berdasarkan ketentuan yang berlaku di pasar modal,                  Based on the provisions in force in the capital
          yang berhak atas dividen tunai adalah pemegang                      market, those who are entitled to cash dividends
          saham yang namanya tercatat dalam Daftar Pemegang                   are shareholders whose names are registered in the
          Saham tanggal 6 Juni 2022 pukul 16.00 WIB. Adapun                   Register of Shareholders on June 6, 2022, at 04.00 PM.
          pembayaran dividen tunai akan dilakukan pada 21 Juni                The cash dividend payment will be made on June 21,
          2022.                                                               2022.
      • Sisa dari laba bersih Perseroan, yaitu sebesar                    • The remainder of Company’s net profit, which is
          Rp458.061.262.299 akan dimasukan sebagai cadangan                   IDR458,061,262,299 will be included as other reserves
          lainnya yang akan menambah saldo laba ditahan.                      which will add to the balance of retained earnings.
   c. Menyetujui untuk memberikan wewenang dan kuasa                      c. Approve to grant authority and power to Company’s
      kepada Dewan Komisaris Perseroan untuk menunjuk                         Board of Commissioners to appoint an independent
      Kantor Akuntan Publik independen untuk melakukan audit                  Public Accounting Firm to audit Company’s Financial
      Laporan Keuangan Perseroan tahun buku yang berakhir                     Statements for Fiscal Year ending 31 December 2022,
      pada tanggal 31 Desember 2022, serta menetapkan biaya                   and to determine audit fees and other requirements,
      audit dan persyaratan lainnya, termasuk untuk menunjuk                  including to appoint a replacement Public Accounting
      Kantor Akuntan Publik pengganti, apabila Kantor Akuntan                 Firm, if Public Accountant Firm who has been
      Publik yang telah ditunjuk tidak dapat melanjutkan                      appointed cannot continue or carry out his duties for
      atau melaksanakan tugasnya karena sebab apapun                          any reason based on laws and regulations.
      berdasarkan peraturan perundangan.




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       3. Realisasi Keputusan RUPS Tahunan                              3.   Realization of AGMS Resolutions
          a. Keputusan agenda pertama telah terealisasikan.             a.   The results of the first agenda have been realized.
          b. Keputusan agenda kedua telah terealisasikan.               b.   The results of the second agenda have been realized.
          c. Keputusan agenda ketiga telah terealisasikan . Perseroan   c.   The decision of the third agenda has been realized. The
             telah menunjuk Kantor Akuntan Publik Ernst & Young              Company has appointed the Public Accounting Firm Ernst &
             Indonesia, Purwanto, Sungkoro & Surja untuk melakukan           Young Indonesia, Purwanto, Sungkoro & Surja, to audit the
             audit atas laporan keuangan dan buku-buku Perseroan             Company’s financial statements and books for the financial
             untuk tahun buku yang berakhir pada tanggal 31 Desember         year ended December 31, 2022.
             2022.



       RUPS LUAR BIASA TANGGAL 7 JANUARI 2022                           EXTRAORDINARY GMS ON JANUARY 7, 2022

       1.   Agenda RUPS Luar Biasa                                      1.   EGMS Agenda
            Persetujuan Perubahan Susunan Direksi                            Approval of Changes in the Composition of Board of Directors


       2. Keputusan RUPS Luar Biasa                                     2. EGMS Resolutions
          a. Menyetujui pengunduran diri Vallauthan Subraminam             a. Approve the resignation of Vallauthan Subraminam as a
             selaku anggota Direksi Perseroan, dan posisi Vallauthan          member of Company’s Board of Directors, and the position
             Subraminam selaku Direktur Utama Perseroan akan                  of Vallauthan Subraminam as President Director of
             digantikan oleh Nasarudin Bin Nasir, terhitung sejak             Company will be replaced by Nasarudin Bin Nasir, starting
             tanggal rapat.                                                   from the date of the meeting.
          b. Memberikan pelunasan serta pembebasan tanggung                b. Provide full release and discharge (acquit et de charge)
             jawab sepenuhnya (acquit et de charge) kepada Vallauthan         to Vallauthan Subraminam for the management that has
             Subraminam atas pengurusan yang telah dijalankan                 been carried out since serving as a member of Company’s
             sejak menjabat sebagai anggota Direksi Perseroan                 Board of Directors until the closing of the Meeting, as
             hingga ditutupnya Rapat, sejauh tindakan pengurusan              long as such management and supervisory actions are
             dan pengawasan tersebut tercermin dalam buku-buku                reflected in Company’s books and are not a crime.
             Perseroan dan bukan merupakan tindak pidana.
          c. Mengangkat Anggota Direksi Perseroan, untuk masa                c. Appoint members of Company’s Board of Directors,
             jabatan sejak ditutupnya Rapat hingga RUPS Tahunan                 for a term of office from the closing of the Meeting until
             Perseroan di tahun 2027.                                           Company’s Annual GMS in 2027.
             Direktur Perseroan : Muhammad Syafril Harahap                      Director of Company : Muhammad Syafril Harahap
          d. Pengangkatan sebagaimana dimaksud dalam poin 3 di               d. The appointment as referred to in point 3 above does not
             atas, tidak menutup hak Pemegang Saham Perseroan                   close the rights of Company’s Shareholders to be able to
             untuk dapat sewaktu-waktu memberhentikan anggota                   dismiss members of Company’s Board of Commissioners
             Dewan Komisaris dan Direksi Perseroan.                             and Board of Directors at any time.
          e. Menyetujui pemberian kuasa kepada Direksi dengan hak            e. Approve the granting of power of attorney to the Directors
             substitusi untuk menyatakan keputusan Rapat dalam                  with the right of substitution to state the resolutions of
             akta Notaris dan selanjutnya memberitahukan perubahan              the Meeting in a Notary deed and subsequently notify the
             susunan anggota Direksi Preseroan kepada Menteri                   changes in the composition of the members of Company’s
             Hukum dan Hak Asasi Manusia serta mendaftarkan pada                Board of Directors to the Minister of Law and Human Rights
             Daftar Perusahaan sesuai dengan peraturan penundangan              and register them in Company Register in accordance with
             yang berlaku.                                                      the applicable statutory regulations.


                 Setelah ada penunjukan atas Calon Direktur tersebut,             After the appointment of the Candidate Director, the
                 maka susunan Direksi dan Dewan Komisaris Perseroan               composition of Company’s Board of Directors and Board
                 akan menjadi sebagai berikut:                                    of Commissioners will be as follows:
                 1. Direktur Utama : Nasarudin bin Nasir                          1. President Director        : Nasarudin bin Nasir
                 2. Direktur         : Jap Hartono                                2. Director                  : Jap Hartono
                 3. Direktur         : Muhammd Syafril Harahap                    3. Director                  : Muhammad Syafril Harahap
                 4. Komisaris Utama : Prof. Dr. Ir. Bungaran Saragih              4. President Commissioner : Prof. Dr. Ir. Bungaran Saragih
                 5. Komisaris Independen:                                         5. Independent Commissioner :
                    - Marzuki Usman                                                   - Marzuki Usman
                    - Warsito                                                         - Warsito
                 6. Komisaris        : Rimbun Situmorang                          6. Commissioner              : Rimbun Situmorang


       3. Realisasi Keputusan RUPS Luar Biasa                           3. Realization of EGMS Resolutions
          Seluruh keputusan tersebut telah terealisasi                     All of these decisions have been realized




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RUPS LUAR BIASA TANGGAL 23 MEI 2022                                 EXTRAORDINARY GMS ON MAY 23, 2022

1.   Agenda RUSP Luar Biasa                                         1.   EGMS Agenda
     Permohonan Persetujuan Penjaminan Sebagian Besar Aset               Application for Guarantee Approval for Most of Company’s
     atau Harta Kekayaan Perseroan dan/atau Anak Perusahaan              Assets or Assets and/or Company’s Subsidiaries
     Perseroan


2. Keputusan RUPS Luar Biasa                                        2. EGMS Resolutions
   a. Menyetujui rencana Perseroan untuk menjaminkan                   a. Approve Company’s plan to guarantee most of the assets
      sebagian besar aset atau harta kekayaan Perseroan dan/              or assets of Company and/or its subsidiaries in 1 (one)
      atau anak Perusahaan Perseroan dalam 1 (satu) transaksi             transaction or several transactions that are independent
      atau beberapa transaksi yang berdiri sendiri ataupun                or related to each other in order to obtain loans and/or
      yang berkaitan satu sama lain dalam rangka perolehan                funding by guaranteeing assets owned Company from
      pinjaman dan/atau pendanaan dengan penjaminan aset                  bank and non-bank financial institutions both domestically
      milik Perseroan dari lembaga keuangan bank maupun                   and abroad.
      bukan bank baik dalam negeri maupun luar negeri.
   b. Menyetujui memberikan kuasa dan wewenang kepada                    b. Approve to grant power and authority to Board of
      Direksi Perseroan sebagai pemenuhan Pasal 102 Undang-                 Directors of Company as a fulfillment of Article 102 of Law
      Undang Nomor 40 tahun 2007 tentang Perseroan untuk                    Number 40 year 2007 concerning Company to take action
      melakukan tindakan atas rencana transaksi Perseroan                   on Company’s planned transaction mentioned above in
      tersebut di atas dalam rangka perolehan pinjaman dan/                 order to obtain loans and/or funding by guaranteeing
      atau pendanaan dengan penjaminan aset milik Perseroan                 Company’s assets from bank institutions and non-bank
      dari lembaga bank maupun bukan bank baik dalam negeri                 both domestic and overseas, taking into account the terms
      maupun luar negeri, dengan memperhatikan syarat-syarat                and conditions in the applicable laws and regulations,
      dan ketentuan dalam peraturan perundang-undangan                      especially Capital Market regulations.
      yang berlaku khususnya peraturan Pasar Modal.


3. Realisasi Keputusan RUPS Luar Biasa                              3. Realization of EGMS Resolutions
   Seluruh keputusan tersebut telah direalisasikan melalui Akta        All resolution for those agenda has been realized and stated
   Notaris No. 32 Tanggal 23 Mei 2022 yang dibuat di Notaris yang      in the Deed No. 32 dated May 23, 2022, made before, Notary in
   berkedudukan di Jakarta.                                            Jakarta.



RUPS LUAR BIASA TANGGAL 30 SEPTEMBER 2022                           EXTRAORDINARY GMS ON SEPTEMBER 30, 2022

1.   Agenda RUSP Luar Biasa                                         1.   EGMS Agenda
     a. Persetujuan Perubahan Susunan Dewan Komisaris                    a. Approval of Changes in the Composition of Board of
                                                                            Commissioners
     b. Persetujuan Perubahan Anggaran Dasar                             b. Approval of Amendments to the Articles of Association


2. Keputusan RUPS Luar Biasa                                        2. EGMS Resolutions
   a. Memberikan pelunasan serta pembebasan tanggung                   a. Provide full release and discharge (acquit et de charge) to
      jawab sepenuhnya (acquit et de charge) kepada Bapak                 Mr. Marzuki Usman for his tenure that has been carried out
      Marzuki Usman atas masa baktinya yang telah dijalankan              since serving as Company’s Independent Commissioner
      sejak menjabat sebagai Komisaris Independen Perseroan               until the closing of this Meeting, as long as supervisory
      hingg ditutupnya Rapat ini, sejauh tindakan pengawasan              action is reflected in Company’s books and is not an act of
      tersebut tercermin dalam buku-buku Perseroan dan                    criminal;
      bukan merupakan tindak pidana;


     b. Menyetujui untuk mengangkat Bapak Hoesen sebagai                 b. Agree to appoint Mr. Hoesen as Independent
        Komisaris Independen PT Sawit Sumbermas Sarana Tbk                  Commissioner of PT Sawit Sumbermas Sarana Tbk for a
        untuk masa jabatan terhitung sejak ditutupnya Rapat ini             term of office starting from the closing of this Meeting until
        hingga Rapat Umum Pemegang Saham Tahunan Perseroan                  Company’s Annual General Meeting of Shareholders in
        di tahun 2027 dengan tidak mengurangi hak Rapat Umum                2027 without prejudice to the right of the General Meeting
        Pemegang Saham untuk memberhentikannya sewaktu-                     of Shareholders to dismiss him at any time.
        waktu.


        Setelah adanya penunjukan atas Calon Komisaris tersebut,             After the appointment of the Candidate Commissioner, the
        maka susunan Dewan Komisaris dan Direksi Perseroan                   composition of Company’s Board of Commissioners and
        akan menjadi sebagai berikut:                                        Board of Directors will be as follows:



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                 Direksi                                                          Board of Directors
                 - Nasirudin bin Nasir selaku Direktur Utama                      - Nasarudin bin Nasir as President Director
                 - Jap Hartono selaku Direktur                                    - Jap Hartono as Director
                 - Muhammad Syafril Harahap selaku Direktur                       - Muhammad Syafril Harahap as Director


                 Dewan Komisaris                                                  Board of Commissioners
                 - Ir. Bungaran Saragih selaku Komisaris Utama                    - Ir. Bungaran Saragih as President Commissioner
                 - Hoesen selaku Komisaris Independen                             - Hoesen as Independent Commissioner
                 - Rimbun Situmorang selaku Komisaris                             - Rimbun Situmorang as Commissioner


            c. Menyetujui pemberian wewenang dan kuasa dengan hak            c.   Approve the granting of authority and power of attorney
               substitusi kepada Direksi dan/atau Corporate Secretary             with the right of substitution to Board of Directors and/
               Perseroan baik bersama-sama maupun sendiri-sendiri                 or Corporate Secretary of Company, both jointly and
               untuk menyatakan keputusan Rapat tersebut dalam akta               separately, to state the decision of the meeting in a
               Notaris. Untuk itu menghadap dimana perlu, memberikan              notarial deed. For this reason, face where necessary,
               keterangan dan laporan, membuat atau suruh buatkan                 provide information and reports, make or order to make
               serta menandatangani semua surat atau akta yang                    and sign all the necessary letters or deeds and notify and/
               diperlukan dan memberitahukan dan/atau melaporkan                  or report to the competent authority, make changes and/
               kepada instansi yang berwenang, membuat perubahan                  or additions needed so that reports can be received and
               dan/atau tambahan yang diperlukan agar laporan dapat               then do everything something that is deemed necessary
               diterima dan selanjutnya melakukan segala sesuatu yang             and useful to carry out the aforementioned matters,
               dipandang perlu dan berguna untuk melaksanakan hal                 without any exceptions.
               tersebut di atas, tanpa ada yang dikecualikan.
            d. Menyetujui perubahan beberapa pasal dalam Anggaran            d. Approve changes to several articles in Company’s
               Dasar Perseroan antara lain yang terkait dengan Direksi,         Articles of Association, including those related to Board of
               Tugas, Tanggung Jawab , dan Wewenang Direksi, serta              Directors, Duties, Responsibilities and Authorities of Board
               Rapat Direksi dan menyusun ulang seluruh Anggaran                of Directors, as well as Board of Directors Meetings and
               Dasar Perseroan dengan tetap memperhatikan hasil                 rearranged all of Company’s Articles of Association while
               keputusan Rapat Umum Pemegang Saham pada tahun-                  taking into account the resolutions of the General Meeting
               tahun sebelumnya dan peraturan perundang-undangan                of Shareholders in previous years and applicable laws and
               yang berlaku;                                                    regulations;
            e. Menyetujui untuk memberikan wewenang dan kuasa                e. Agree to grant authority and power of attorney with the
               dengan hak substitusi kepada Direksi dan/atau Corporate          right of substitution to Board of Directors and/or Corporate
               Secretary Perseroan baik bersama-sama maupun sendiri-            Secretary of Company both jointly and individually, namely
               sendiri, yaitu untuk menyatakan keputusan agenda Rapat           to declare decisions on the Meeting agenda including
               termasuk menyusun dan menyatakan kembali seluruh                 drafting and restating the entire Articles of Association
               Anggaran Dasar Perseroan dalam suatu akta Notaris,               of Company in a Notary deed, and to is facing where
               dan untuk itu menghadap dimana perlu, memberikan                 necessary, providing information and reports, making or
               keterangan dan laporan, membuat atau suruh buatkan               ordering to make and signing all the necessary letters or
               serta menandatangani semua surat atau akta yang                  deeds and requesting approval and/or reporting to the
               diperlukan dan memohon persetujuan dan/atau                      competent authority, making changes and/or additions
               melaporkan kepada instansi yang berwenang, membuat               needed so that reports can be received and then doing
               perubahan dan/atau tambahan yang diperlukan agar                 everything something that is deemed necessary and
               laporan dapat diterima dan selanjutnya melakukan                 useful to carry out the aforementioned matters, without
               segala sesuatu yang dipandang perlu dan berguna                  being excluded.
               untuk melaksanakan hal tersebut di atas, tanpa yang
               dikecualikan.


       3. Realisasi Keputusan RUPS Luar Biasa                             3. Realization of EGMS Resolutions
          Seluruh keputusan tersebut telah terealisikan.                     All these decisions have been realized.




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DEWAN KOMISARIS
BOARD OF COMMISSIONERS




Dewan Komisaris Perusahaan bertanggung jawab mengawasi                 The Company’s Board of Commissioners is responsible for
pengelolaan Perusahaan oleh Direksi serta memastikan bahwa             overseeing the management of the Company by the BOD and
Perusahaan telah menerapkan GCG secara berkelanjutan.                  ensuring that the Company has implemented GCG in a sustainable
Dewan Komisaris juga melakukan fungsi pengawasan terhadap              manner. The BOC also performs the oversight function of the
kegiatan pengelolaan perusahaan untuk memastikan perusahaan            company’s management activities to ensure that the company
menjalankan usahanya sesuai dengan tujuan yang ditetapkan,             runs its business in accordance with the stipulated objectives and
memberikan saran, nasihat, dan rekomendasi kepada Direksi              provides suggestions, advice, and recommendations to the BOD
terkait isu maupun permasalahan tertentu.                              regarding certain issues or problems.



DASAR HUKUM                                                            LEGAL REFERENCES

1.   Undang-Undang No. 40 Tahun 2007 tentang Perseroan                 1.   The Law No. 40 of 2007 concerning Limited Liability
     Terbatas.                                                              Companies.
2.   POJK No. 33/POJK.04/2014 tentang Direksi dan Dewan                2.   POJK No. 33/POJK.04/2014 concerning the Board of Directors
     Komisaris Emiten Atau Perusahaan Publik.                               and Board of Commissioners of Issuers or Public Companies.
3.   Anggaran Dasar Perseroan.                                         3.   Company’s Articles of Association.



KRITERIA PENGANGKATAN DEWAN KOMISARIS                                  APPOINTMENT CRITERIA                FOR     THE        BOARD            OF
                                                                       COMMISSIONERS
Kriteria pengangkatan Dewan Komisaris berdasarkan POJK No.             The criteria for the Board of Commissioners appointment are as
33/2014, yaitu:                                                        set forth under POJK 33/2014 as follows:


1.   Memiliki akhlak, moral yang baik dan integritas yang baik serta   1.   having good moral and integrity as well as legal capacity to
     cakap melakukan perbuatan hukum;                                       take any legal action;
2.   Dalam 5 (lima) tahun sebelum pengangkatan dan selama              2.   within the past five (5) years prior to appointment and during
     menjabat:                                                              the course of directorship:
     a. tidak pernah dinyatakan pailit;                                     a. has never been declared bankrupt;
     b. tidak pernah menjadi anggota Direksi dan/ atau anggota              b. has never been performed as former member of the
        Dewan komisaris yang dinyatakan bersalah menyebabkan                    Board of Commissioners or Board of Directors which was
        suatu perusahaan dinyatakan pailit;                                     declared guilty causing a bankruptcy of a company;



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            c. tidak pernah dihukum karena melakukan tindak pidana                                  c.   has never been sentenced for a crime causing financial
               yang merugikan keuangan negara dan/atau yang                                              loss to the country and/or financial sector; and
               berkaitan dengan sektor keuangan; dan
            d. tidak pernah menjadi anggota Direksi dan/atau anggota                                d. has never been performed as former member of Board of
               Dewan komisaris yang selama menjabat:                                                    Commissioners or Board of Directors whereby during each
                                                                                                        directorship:
                 i.    pernah tidak menyelenggarakan RUPS tahunan;                                      i. has never been convened an Annual General Meeting
                                                                                                             of Shareholders,
                 ii.  pertanggungjawabannya sebagai anggota Direksi                                     ii. his/her accountability, management and supervisory
                      dan/atau anggota Dewan komisaris pernah tidak                                          report rejected by the General Meeting of
                      diterima oleh RUPS atau pernah tidak memberikan                                        Shareholders or failed to submit his accountability
                      pertanggungjawaban sebagai anggota Direksi dan/                                        report as a member of the Board of Directors and/
                      atau anggota Dewan komisaris kepada RUPS; dan                                          or Board of Commissioners to the General Meeting of
                 iii. pernah      menyebabkan        perusahaan     yang                                     Shareholders, and;
                      memperoleh izin, persetujuan, atau pendaftaran dari                               iii. caused a company that had already obtained licenses,
                      Otoritas jasa keuangan tidak memenuhi kewajiban                                        approvals or registered with the Financial Service
                      menyampaikan Laporan Tahunan dan/ atau Laporan                                         Authority to not fulfill its obligations to submit annual
                      keuangan kepada Otoritas jasa keuangan.                                                reports and/ or financial reports to the Financial
                                                                                                             Service Authority;
       3.   Memiliki komitmen untuk mematuhi peraturan perundang-                              3.   has a strong commitment to obey and comply with the
            undangan; dan                                                                           prevailing regulations; and
       4.   Memiliki pengetahuan dan/atau keahlian di bidang yang                              4.   has a good knowledge and/or competence required by the
            dibutuhkan Perseroan.                                                                   issuer or public company.



       KEANGGOTAAN DEWAN KOMISARIS                                                             MEMBERSHIP OF BOARD OF COMMISSIONERS

       Di tahun 2023 Dewan Komisaris Perseroan terdiri dari tiga anggota                       In 2023, the Company’s Board of Commissioners consists of
       yang meliputi satu Komisaris Utama, satu Komisaris dan satu                             three members, including one President Commissioner, one
       Komisaris Independen. Dengan komposisi tersebut, susunan                                Commissioner and one Independent Commissioner. With this
       Dewan Komisaris SSMS telah memenuhi ketentuan POJK Nomor                                composition, the structure of the SSMS Board of Commissioners
       33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten                              has complied with the provisions of POJK No. 33/POJK.04/2014
       atau Perusahaan Publik di mana komposisi Dewan Komisaris                                on the Board of Directors and Board of Commissioners of
       paling sedikit 30% merupakan anggota Dewan Komisaris                                    Issuers or Public Companies where the composition of the
       Independen yang berasal dari kalangan di luar Perseroan yang                            Board of Commissioners is at least 30% members of the Board
       ditetapkan dalam keputusan pengangkatannya.                                             of Commissioners from outside the Company as stipulated in the
                                                                                               decision of appointment.


       Berikut komposisi Dewan Komisaris Perseroan per tanggal 31                              The following is the composition of the Board of Commissioners
       Desember 2023:                                                                          of the Company as of December 31, 2023:


                      Nama                     Jabatan                     Dasar Pengangkatan                          Masa Jabatan              Periode Jabatan
                      Name                     Position                        Legal Basis                             Term of Office                 Period
        Ir. Bungaran Saragih             Komisaris Utama        Akta No. 18 Tanggal 5 Desember 2023 yang 5 Desember 2023-RUPST 2028                Periode ke-3
                                         President              dibuat oleh Notaris Aulia Taufani, S.H.  December 5, 2023 – the Annual              3rd period
                                         Commissioner           Deed No. 18 dated December 5, 2023 made GMS in 2028
                                                                before Notary Aulia Taufani, S.H.
        Hoesen                           Komisaris Independen Akta No. 65 Tanggal 30 September 2022           22 Oktober 2022 –22 Oktober          Periode ke-1
                                         Independent          yang dibuat oleh Notaris Aulia Taufani, SH.     2027                                  1st Period
                                         Commissioner         Deed No. 65 dated September 30, 2022            October 22, 2022 – October 22,
                                                              made before Notary Aulia Taufani, SH.           2027
        Rimbun Situmorang                Komisaris              Akta No. 55 tanggal 28 Mei 2021 yang          31 Agustus 2021 –31 Agustus          Periode ke-2
                                         Commissioner           dibuat oleh Notaris DR. Tintin Surtini SH.,   2026                                  2nd Period
                                                                MH., MKn.                                     August 31, 2016 – August 31,
                                                                Deed No. 55 dated May 28, 2021 made by        2026
                                                                Notary DR. Tintin Surtini SH., MH., MKn.




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FIT AND PROPER TEST                                                 FIT AND PROPER TEST

Mekanisme pengangkatan Dewan Komisaris yang ditetapkan              The mechanism for appointing Board of Commissioners
oleh RUPS telah sesuai dengan ketentuan peraturan perundang-        determined by GMS is in accordance with statutory provisions, and
undangan, serta dilakukan melalui mekanisme uji kelayakan dan       is carried out through a fit and proper test mechanism. Prospective
kepatutan (fit and proper test). Calon anggota Dewan Komisaris      members of Board of Commissioners who have passed the fit
yang telah dinyatakan lulus uji kelayakan dan kepatutan wajib       and proper test must sign a management contract prior to their
menadatangani kontrak manajemen sebelum ditetapkan                  appointment as members of Board of Commissioners.
pengangkatannya sebagai anggota Dewan Komisaris.


Hingga akhir tahun 2023, seluruh anggota Dewan Komisaris SSMS       Until the end year 2023, all members of the SSMS Board of
telah memenuhi kriteria dan ketentuan yang dipersyaratkan           Commissioners have met the criteria and conditions required
dalam uji kepatutan dan kelayakan. Seluruh anggota Dewan            in the fit and proper test. All members of Company’s Board
Komisaris Perseroan memiliki integritas, kompetensi, dan reputasi   of Commissioners have adequate integrity, competence and
yang memadai.                                                       reputation.



MASA JABATAN DEWAN KOMISARIS                                        BOARD OF COMMISSIONERS TERM OF OFFICE

Masa jabatan Anggota Dewan Komisaris diangkat untuk jangka          The term of office of members of Board of Commissioners is
waktu 5 (lima) tahun sejak pengangkatan sampai dengan               appointed for a period of 5 (five) years from the appointment until
penutupan RUPS Tahunan ke-5 (lima) dan dapat diangkat kembali       the close of the 5th (fifth) Annual GMS and can be reappointed
dengan tidak mengurangi hak RUPS untuk memberhentikan               without prejudice to the right of GMS to dismiss them at any
sewaktu-waktu sesuai dengan ketentuan yang berlaku. Ketentuan       time in accordance with applicable regulations. This provision
ini juga berlaku untuk Komisaris Independen yang diangkat sesuai    also applies to Independent Commissioners who are appointed
keputusan RUPS.                                                     pursuant to a GMS decision.



PROSEDUR PENGANGKATAN DAN PEMBERHENTIAN                             PROCEDURES FOR APPOINTMENT AND DISMISSAL OF
DEWAN KOMISARIS                                                     DIRECTORS

Anggota Dewan Komisaris diangkat oleh RUPS, masing-                 Members of Board of Directors are appointed by GMS, each for a
masing untuk jangka waktu terhitung sejak pengangkatannya           period commencing from their appointment determined at GMS
yang ditentukan pada RUPS yang mengangkat mereka                    that appointed them until the close of the 5th (fifth) Annual GMS
sampai penutupan RUPS Tahunan ke-5 (kelima) sejak tanggal           from the date of their appointment, without prejudice to the right
pengangkatan mereka, dengan tidak mengurangi hak RUPS               of GMS to dismiss them at any time by stating the reasons after the
untuk memberhentikannya sewaktu-waktu dengan menyebutkan            member of Board of Directors concerned is given the opportunity
alasannya setelah anggota Dewan Komisaris yang bersangkutan         to attend GMS to defend himself.
diberi kesempatan untuk hadir dalam RUPS guna membela diri.


Pemberhentian demikian berlaku sejak penutupan Rapat                Such termination is effective from the close of the meeting that
yang memutuskan pemberhentiannya, kecuali bila tanggal              decided the termination, unless another date of dismissal is
pemberhentian yang lain ditentukan oleh Rapat tersebut. Anggota     determined by the meeting. Members of Board of Directors whose
Dewan Komisaris yang masa jabatannya telah berakhir dapat           term of office has expired may be reappointed.
diangkat kembali.



TUGAS DAN TANGGUNG JAWAB                                            DUTIES AND RESPONSIBILITIES

Setiap anggota Dewan Komisaris bertugas melakukan                   Each member of the BOC is tasked with supervising policies
pengawasan kebijakan dan jalannya pengurusan yang dilakukan         and the course of management carried out by the BOD for the
Direksi untuk kepentingan Perseroan, sesuai maksud dan tujuan       benefit of the Corporation according to the aims and objectives
Perseroan. Dewan Komisaris juga bertanggung jawab melakukan         of the Corporation. The BOC is also responsible for monitoring the
pemantauan terhadap efektivitas pelaksanaan GCG, serta              effective implementation of GCG as well as providing suggestions
memberikan saran perbaikan sistem dan implementasi GCG.             for improving the GCG system and implementation.




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       Dalam menjalankan tugasnya Dewan Komisaris berkewajiban         In carrying out its duties, the BOC is obliged to:
       untuk:
       1. Menyampaikan saran dan pendapat mengenai rencana             1.   Deliver suggestions and opinions regarding Company’s
          pengembangan Perseroan, Laporan Tahunan dan laporan               development plan, Annual Report and other periodic reports
          berkala lainnya dari Direksi dalam forum RUPS;                    from Board of Directors in GMS forum;
       2. Memberikan pelaporan tentang tugas dan pengawasan            2.   Provide report on the tasks and supervision that has been
          yang telah dilakukan selama tahun buku yang baru/lampau           carried out during the new/previous Fiscal Year to GMS
          kepada RUPS disertai dengan saran dan langkah perbaikan           accompanied by suggestions and corrective steps that must
          yang harus ditempuh, apabila Perseroan menunjukkan gejala         be taken, if Company shows signs of decline;
          kemunduran;
       3. Memberikan saran dan pendapat kepada RUPS mengenai           3.   Provide advice and opinions to GMS regarding any other
          setiap persoalan lainnya yang dianggap penting bagi               issues deemed important for the management of Company;
          pengelolaan Perseroan;
       4. Mengesahkan Rencana Kerja dan Anggaran Perseroan yang        4.   Approve Company’s Work Plan and Budget submitted by
          disampaikan Direksi dalam waktu selambat lambatnya 30             Board of Directors no later than 30 (thirty) days before the start
          (tiga puluh) hari sebelum tahun buku baru dimulai;                of the new Fiscal Year;
       5. Sekurang-kurangnya melakukan tugas pengawasan lainnya        5.   At least perform other supervisory duties determined by GMS;
          yang ditentukan oleh RUPS;
       6. Membuat Risalah Rapat Dewan Komisaris;                       6. Create minutes of meetings of Board of Commissioners;
       7. Melaporkan kepada Perseroan mengenai kepemilikan             7. Report to Company regarding their and/or family’s share
          sahamnya dan atau keluarganya pada Perseroan dan pada           ownership in Company and in other company.
          perusahaan lain.



       PENDELEGASIAN WEWENANG DEWAN KOMISARIS                          DELEGATION OF THE BOARD OF COMMISSIONERS
                                                                       AUTHORITY
       Pendelegasian wewenang oleh seorang anggota Dewan               Delegation of authority given by a member of the Board of
       Komisaris kepada anggota Dewan Komisaris lainnya dilakukan      Commissioners to other members of the Board of Commissioners
       melalui surat kuasa khusus untuk keperluan dimaksud.            is carried out through a special power of attorney for such purpose.
       Pendelegasian wewenang ini tidak melepaskan tanggung jawab      This delegation of authority does not abdicate the responsibility of
       Dewan Komisaris secara kolektif.                                the Board of Commissioners collectively.



       PEMBAGIAN TUGAS DEWAN KOMISARIS                                 SEGREGATION OF              DUTIES      OF     THE     BOARD       OF
                                                                       COMMISSIONERS
       Dewan Komisaris mengatur sendiri pembagian kerja di antara      The Board of Commissioners regulates the division of work
       anggota, namun demikian fokus bidang pengawasan masing-         among members, however, the focus of the supervisory area
       masing anggota Dewan Komisaris mengacu pada pembagian           of each member of the Board of Commissioners refers to the
       peran sebagai Ketua dan Wakil Ketua dari Komite Penunjang       division of roles as Chairman and Vice Chairman of the Supporting
       Dewan Komisaris sesuai kompetensi dan pengalaman yang           Committee of the Board of Commissioners according to their
       dimiliki.                                                       competence and experience.



       TATA TERTIB DEWAN KOMISARIS                                     BOARD OF COMMISSIONERS RULES

       Dalam melaksanakan tugas dan tanggung jawabnya, Dewan           In carrying out its duties and responsibilities, Board of
       Komisaris mengacu kepada aturan-aturan dan ketentuan:           Commissioners refers to the rules and regulations:


       •    Piagam Dewan Komisaris yang diterbitkan Perseroan pada     •    Charter of Board of Commissioners issued by Company in
            tahun 2017;                                                     2017;
       •    Anggaran Dasar maupun Peraturan perundang-undangan         •    Articles of Association and the applicable laws and regulations,
            yang berlaku, khususnya Undang- Undang No. 40 tahun 2007        especially Law No. 40 year 2007 concerning Limited Liability
            tentang Perseroan Terbatas;                                     Company;
       •    Peraturan Otoritas Jasa Keuangan (POJK) No. 33/            •    Financial Services Authority Regulation (FSA Regulation)
            POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten         No. 33/POJK.04/2014 concerning Directors and Board of
            atau Perusahaan Publik; dan                                     Commissioners of Issuers or Public Company;




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PIAGAM DEWAN KOMISARIS                                            BOARD OF COMMISSIONERS CHARTER

Dalam menjalankan tugasnya, Dewan Komisaris memiliki              In carrying out its duties, Board of Commissioners has a very
peran yang sangat strategis dalam mengawasi jalannya usaha        strategic role in overseeing the running of Company’s business,
Perseroan, sehingga diperlukan suatu Pedoman Kerja atau           so a Work Manual or Charter of Board of Commissioners is needed
Piagam Dewan Komisaris sebagai pedoman bagi Dewan Komisaris       as a guideline for Board of Commissioners in carrying out its
dalam melaksanakan tugas, tanggung jawab, dan wewenangnya         duties, responsibilities and authorities to fulfill the interests of
untuk memenuhi kepentingan Pemegang Saham dan Pemangku            Shareholders and other Stakeholders.
Kepentingan lainnya.


Dewan Komisaris Perseroan telah memiliki Piagam Dewan             Company’s Board of Commissioners has a Board of Commissioners
Komisaris yang memuat hal-hal yang terkait dengan organisasi,     Charter which contains matters related to the organization,
tugas dan tanggung jawab, wewenang, etika kerja, pembentukan      duties and responsibilities, authorities, work ethics, committee
komite dan tata tertib rapat Dewan Komisaris serta Komite Dewan   formation and rules for meeting Board of Commissioners and
Komisaris. Piagam Dewan Komisaris ini disusun berdasarkan         Board of Commissioners Committees. This Charter of Board of
peraturan yang berlaku termasuk Peraturan Otoritas Jasa           Commissioners is prepared based on the applicable regulations
Keuangan (OJK) dan best practices serta ditinjau secara berkala   including the Regulations of the Financial Services Authority (FSA)
serta mengikat bagi setiap anggota Dewan Komisaris.               and best practices and is reviewed periodically and is binding for
                                                                  each member of Board of Commissioners.



RANGKAP JABATAN DAN BENTURAN KEPENTINGAN                          CONCURRENT POSITIONS AND CONFLICT OF INTERESTS

Berdasarkan Pedoman GCG Perseroan, anggota Dewan Komisaris        Based on the Company’s GCG Guidelines, members of the Board
dapat menjabat lebih dari satu jabatan sebagai fungsi-fungsi      of Commissioners may hold more than one position as the
berikut:                                                          following functions:


a. Anggota Direksi maksimum pada 2 (dua) perusahaan publik        a. Maximum members of the Board of Directors in 2 (two) other
   lain.                                                             public companies.
b. Anggota Dewan Komisaris maksimum pada 2 (dua) perusahaan       b. Maximum members of the Board of Commissioners in 2 (two)
   publik lain.                                                      other public companies.
c. Dalam hal anggota Dewan Komisaris tidak merangkap              c. In the event that members of the Board of Commissioners
   jabatan sebagai Direksi sebagaimana dalam poin diatas,            do not hold concurrent positions as Directors as in the point
   maka anggota Dewan Komisaris juga dapat bertindak sebagai         above, then members of the Board of Commissioners can also
   anggota Dewan pada maksimum 4 (empat) perusahaan publik           act as members of the Board of a maximum of 4 (four) other
   lain.                                                             public companies.
d. Anggota Komite paling banyak pada 5 (lima) Komite pada         d. Committee members are a maximum of 5 (five) committees
   perusahaan publik lain dimana yang bersangkutan menjabat          in other public companies where the person concerned
   sebagai anggota Direksi atau Dewan Komisaris.                     serves as a member of the Board of Directors or Board of
                                                                     Commissioners.


Untuk menghindari benturan kepentingan dari rangkap jabatan       As part of independence and professionalism, also to avoid
yang dimiliki serta sebagai independensi dan profesionalisme,     conflicts of interest from holding multiple positions, each member
setiap anggota Dewan Komisaris harus memiliki etika sebagai       of the Board of Commissioners must have the following ethics:
berikut:
1. Seorang Komisaris harus menghindari dirinya pada posisi di     1.   A Commissioner must avoid himself in a position where his
    mana kepentingan pribadinya dapat bertentangan dengan              personal interests may conflict with his obligations to the
    kewajibannya terhadap Perusahaan.                                  Company.
2. Seorang Komisaris yang memiliki benturan kepentingan           2.   A Commissioner who has a conflict of interest or potential
    atau potensi benturan kepentingan dengan Perusahaan                conflict of interest with the Company must immediately
    wajib segera melapor kepada Komisaris Utama dan kepada             report to the President Commissioner and to other members
    anggota Dewan Komisaris lainnya dan harus menyediakan              of the Board of Commissioners and must provide all relevant
    semua informasi yang relevan dalam laporan tersebut.               information in the report. The President Commissioner must
    Komisaris Utama juga harus memberikan informasi-informasi          also provide information relating to conflicts of interest to the
    yang berkaitan dengan konflik kepentingan kepada Direksi.          Board of Directors.
3. Suatu transaksi di mana seorang Komisaris memiliki benturan    3.   A transaction in which a Commissioner has a conflict of
    kepentingan harus mendapat persetujuan Dewan Komisaris,            interest must obtain approval of the Board of Commissioners,
    dan memenuhi persyaratan yang diminta sesuai dengan                and meet the requirements required in accordance with
    peraturan yang berlaku terkait pihak terafiliasi dan/atau          applicable regulations regarding affiliated parties and/or
    transaksi benturan kepentingan.                                    conflict of interest transactions.



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       4.   Komisaris yang memiliki benturan kepentingan tidak boleh              4.    A Commissioner who has a conflict of interest may not be
            dilibatkan dalam proses pengambilan keputusan yang                          involved in the decision-making process related to his conflict.
            berkaitan dengan konflik yang dimilikinya.



       PROGRAM PENGENALAN PERUSAHAAN UNTUK DEWAN                                  COMPANY INDUCTION PROGRAM FOR THE BOARD OF
       KOMISARIS                                                                  COMMISSIONERS

       Perseroan melaksanakan program pengenalan bagi anggota                     The Company conducts an induction program for new members
       Dewan Komisaris yang baru dengan tujuan memberikan                         of the Board of Commissioners with the aim of providing an
       gambaran atas aktivitas bisnis, rencana perusahaan ke depan,               overview of business activities, future company plans, work
       pedoman kerja dan hal lainnya yang menjadi tanggung jawab                  guidelines and other matters that are the responsibility of the
       Dewan Komisaris.                                                           Board of Commissioners.


       Untuk meningkatkan pemahaman Dewan Komisaris, Perusahaan                   To improve the understanding of the Board of Commissioners, the
       juga menyampaikan dokumen-dokumen penunjang lainnya                        Company also submits other supporting documents including the
       antara lain Laporan Tahunan, Rencana Kerja dan Anggaran                    Annual Report, the Company’s Work Plan and Budget, Articles of
       Perusahaan, Anggaran Dasar, Rencana Jangka Panjang                         Association, the Company’s Long-Term Plan, and so forth.
       Perusahaan, dan sebagainya.


       Di tahun 2023, Perseroan tidak menyelenggarakan program                    In 2023, the Company did not hold this program as the composition
       ini dikarenakan komposisi Dewan Komisaris tidak mengalami                  of the Board of Commissioners has not changed from the previous
       perubahan dari tahun sebelumnya.                                           year.



       PROGRAM PENGEMBANGAN                 KOMPETENSI            DEWAN           BOARD    OF    COMMISSIONERS                        COMPETENCY
       KOMISARIS                                                                  DEVELOPMENT PROGRAM

       Guna meningkatkan kompetensi dan pengetahuan Dewan                         In order to improve the competence and knowledge of the Board
       Komisaris dan sejalan dengan program pengembangan Dewan                    of Commissioners and in line with the development program
       Komisaris, Perusahaan senantiasa memutakhirkan pengetahuan                 of the Board of Commissioners, the Company always updates
       Dewan Komisaris melalui kegiatan pelatihan, workshop, seminar,             the knowledge of the Board of Commissioners through training
       conference, ataupun dalam bentuk kunjungan kerja serta studi               activities, workshops, seminars, conferences, or in the form of
       banding (benchmark).                                                       work visits and comparative studies (benchmarks).


       Pada tahun 2023, realisasi Program Pelatihan dan Pengembangan              In 2023, the realization of the Training and Development Program
       yang dilakukan Dewan Komisaris adalah sebagai berikut:                     carried out by the Board of Commissioners is as follows:


               Anggota Dewan Komisaris                   Pelatihan/Pendidikan                           Tanggal                  Penyelenggara
            Board of Commissioners Member                 Training/Education                              Date                    Organization
                                                                                                2-4 November 2023
        Ir. Bungaran Saragih                Indonesia Palm Oil Conference (IPOC) 2023                                    GAPKI
                                                                                                November 2-4, 2023
                                                                                                25 Agustus 2023
        Rimbun Situmorang                   Banking Mastery Forum 2023                                                   PERBARINDO
                                                                                                August 25, 2023
                                                                                                12-14 Desember 2023      Rotterdam School of
        Hoesen                              Sustainable Finance
                                                                                                December 12-14, 2023     Management




       INDEPENDENSI DEWAN KOMISARIS                                               INDEPENDENCE OF THE BOARD OF COMMISSIONERS

       Dewan Komisaris dalam melaksanakan tugas dan tanggung                      In carrying out its duties and responsibilities, the Board of
       jawabnya bertindak independen antara lain dengan cara-cara                 Commissioners acts independently, among others, in the ways as
       sebagaimana tertuang dalam Piagam Dewan Komisaris. Dewan                   stated in the Board of Commissioners Charter. The Board of
       Komisaris senantiasa menjunjung tinggi prinsip independensi                Commissioners always upholds the principle of independence
       dan mengutamakan kepentingan Perseroan di atas kepentingan                 and prioritizes the interests of the Company above its own.
       sendiri.




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Seluruh anggota Dewan Komisaris dan Direksi telah                  All members of Board of Commissioners and Directors have
menandatangani      Pernyataan     Komitmen/Pakta     Integritas   signed a Statement of Commitment/Member Integrity Pact. One
Anggota. Salah satu butir yang tercantum adalah komitmen untuk     of the items listed is commitment to always maintain independenc
selalu menjaga independensi dan integritas yang berpengaruh        and integrity that affect the activities of the management and
pada aktivitas fungsi pengelolaan dan pengawasan operasional       operational supervision functions of PT Sawit Sumbermas Sarana
PT Sawit Sumbermas Sarana Tbk.                                     Tbk.



PELAKSANAAN TUGAS DAN TANGUNG JAWAB DEWAN                          IMPLEMENTATION OF DUTIES AND RESPONSIBILITIES OF
KOMISARIS TAHUN 2023                                               THE BOARD OF COMMISSIONERS IN 2023

Selama tahun 2023, Dewan Komisaris telah melaksanakan tugas        During 2023, the Board of Commissioners has carried out
pengawasan atas kegiatan operasional Perusahaan, di antaranya:     supervisory duties over the Company’s operational activities,
                                                                   including:


1.   Telah melaksanakan Rapat Internal Dewan Komisaris.            1.   Has carried out BOC Internal Meeting.
2.   Telah melaksanakan Rapat Gabungan, baik bersama Komite        2.   Has carried out joint meeting, either with Committeed or
     maupun Direksi dan unit lain yang relevan.                         Board of Directors and other relevan units.
3.   Telah melakukan kunjungan kerja (On Site Visit) Dewan         3.   Has conducted on site visit by Board of Commissioners.
     Komisaris.
4.   Telah membuat Laporan Pengawasan Dewan Komisaris yang         4.   Has prepared BOC Supervision Report will be submitted at the
     diserahkan pada saat RUPS.                                         GMS.


Selama tahun 2023, transaksi atau tindakan yang dilakukan oleh     During 2023, transactions or actions taken by the Board of
Direksi Perusahaan yang memerlukan persetujuan tertulis Dewan      Directors of the Company that require written approval from the
Komisaris antara lain sebagai berikut:                             Board of Commissioners include the following:


1.   Rekomendasi Penunjukan Akuntan Publik dan Kantor Akuntan      1.   Recommendation for the Appointment of Public Accountants
     Publik                                                             and Public Accounting Firms
2.   Persetujuan atas Pinjaman Kredit Modal Kerja (KMK)            2.   Approval of Working Capital Credit Loan (KMK)
3.   Persetujuan Rencana Penyelesaian Utang PT Citra Borneo        3.   The approval of the Debt Settlement Plan of PT Citra Borneo
     Indah (“CBI”) kepada Perseroan dengan penyerahan saham             Indah (“CBI”) to the Company with the transfer of shares of PT
     PT Citra Borneo Utama Tbk (“CBUT”) sebagai pembayaran              Citra Borneo Utama Tbk (“CBUT”) as payment of CBI’s debt
     utang CBI kepada Perseroan (“Rencana Transaksi”) merupakan         to the Company (“Transaction Plan”) is an Affiliate Transaction
     Transkasi Afiliasi berdasarkan POJK 42/2020 dan Transaksi          based on POJK 42/2020 and Material Transactions, based on
     Material, berdasarkan POJK 17/2020.                                POJK 17/2020.



RAPAT DEWAN KOMISARIS                                              BOARD OF COMMISSIONERS MEETINGS

Sesuai Anggaran Dasar Perusahaan, rapat Dewan Komisaris            Pursuant to the Company’s Articles of Association, meetings of
diadakan sekurang-kurangnya sekali setiap 2 (dua) bulan.           the Board of Commissioners are held at least once every 2 (two)
Pemberitahuan rapat dikirim melalui surat elektronik terdaftar     months. Notice of meeting shall be sent through registered
atau surat yang disampaikan langsung kepada setiap anggota         electronic mail or letter delivered directly to each member of
Dewan Komisaris sekurang-kurangnya 7 (tujuh) hari sebelum          the Board of Commissioners at least 7 (seven) days prior to the
rapat, tanpa menghitung tanggal pemberitahuan dan tanggal          meeting, without counting the notification date and meeting date.
rapat.


Rapat dapat diadakan baik dengan kehadiran fisik atau non-         Meetings can be held either with physical or non-physical
fisik. Rapat dengan kehadiran non-fisik dapat dilakukan melalui    attendance. Meetings with non-physical presence can be
teleconference, video conference atau fasilitas media elektronik   conducted via teleconference, video conference or other
lainnya. Jika seorang anggota Dewan Komisaris tidak dapat          electronic media facilities. If a member of the Board of
menghadiri Rapat, ia dapat menunjuk seorang anggota lain dari      Commissioners is unable to attend the Meeting, he may appoint
Dewan Komisaris untuk mewakilinya dalam menghadiri Rapat           another member of the Board of Commissioners to represent him
berdasarkan surat kuasa khusus yang diberikan untuk tujuan         in attending the Meeting based on a specific proxy granted for
tersebut.                                                          that purpose.




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       Rapat Dewan Komisaris tahun 2023 telah diagendakan sebelum                         The 2023 Board of Commissioners meeting has been scheduled
       tahun berjalan yang dituangkan dalam program kerja Dewan                           prior to the current year as outlined in the 2022 Board of
       Komisaris tahun 2022.                                                              Commissioners work program.


       Selama tahun 2023, Rapat internal Dewan Komisaris telah                            During 2023, internal meetings of the Board of Commissioners
       dilakukan sebanyak 9 (sembilan) kali yang dihadiri oleh anggota                    have been held 9 (nine) times attended by members of the Board
       Dewan Komisaris dengan agenda rapat sebagai berikut:                               of Commissioners with the following meeting agenda:


        Agenda Rapat Dewan Komisaris
        Board of Commissioners Meeting Agenda

                       Tanggal
                                                                                                       Agenda
                         Date
                 1 Desember 2023             Rapat PRA RUPS independent
                 December 1, 2023            Independent PRE-GMS meeting
                  27 Oktober 2023            Pembahasan Laporan Keuangan SSMS per 30 September 2023
                  October 27, 2023           Discussion of SSMS Financial Statements as of September 30, 2023
                  19 Oktober 2023            Rencana Transaksi Penyelesaian Utang PT Citra Borneo Indah (“CBI”) kepada Perseroan dengan penyerahan saham PT
                  October 19, 2023           Citra Borneo Utama Tbk (“CBUT”) sebagai pembayaran utang CBI kepada Perseroan
                                             Debt Settlement Transaction Plan of PT Citra Borneo Indah ("CBI") to the Company with the delivery of shares of PT
                                             Citra Borneo Utama Tbk ("CBUT") as payment of CBI's debt to the Company
                  29 Agustus 2023            Pembahasan Laporan Keuangan Tengah Tahun 2023 (limited review)
                  Auguts 29, 2023            Discussion of 2023 Mid-Year Financial Statements (limited review)
                  21 Agustus 2023            Fasilitas Kredit Modal Kerja
                  August 21, 2023            Working Capital Credit Facility
                    28 April 2023            Pembahasan Laporan Keuangan SSMS per 31 Maret 2023
                    April 28, 2023           Discussion of SSMS Financial Statements as of March 31, 2023
                    13 April 2023            Pembahasan PRA RUPS Tahunan
                    April 13, 2023           PRA Discussion of Annual GMS
                   28 Maret 2023             Pembahasan Laporan Keuangan SSMS Tahun (full year) 2022
                   March 28, 2023            Discussion of SSMS Financial Statements for the Year (full year) 2022
                  13 Februari 2023           Pembahasan Anggaran Perseroan Tahun 2023
                  February 13, 2023          Discussion of the Company's 2023 Budget




        Rapat Dewan Komisaris
        Board of Commissioners Meeting

                     Nama                                 Jabatan                           Jumlah Rapat             Jumlah Kehadiran        (%) Kehadiran
                     Name                                 Position                          Total Meeting             Total Attendance      (%) Attendance
                                         Komisaris Utama
        Bungaran Saragih                                                                           9                        9                     100
                                         President Commissioner
                                         Komisaris Independen
        Hoesen                                                                                     9                        9                     100
                                         Independent Commissioner
                                         Komisaris
        Rimbun Situmorang                                                                          9                        9                     100
                                         Commissioner




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Rapat Gabungan Dewan Komisaris dengan Direksi                                Board of Commissioners Joint Meetings with Directors

Sesuai Anggaran Dasar Perusahaan, Rapat Gabungan Dewan                       In accordance with the Company’s Articles of Association, the
Komisaris dengan Direksi diselenggarakan secara berkala paling               Joint Meeting of the Board of Commissioners with the Board of
kurang 1 (satu) kali dalam 4 (empat) bulan, dengan agenda                    Directors is held periodically at least once in 4 (four) months, with
pembahasan di antaranya:                                                     a discussion agenda including:



Agenda Rapat Gabungan
Joint Meeting Agenda

              Tanggal
                                                                                          Agenda
                Date
    Senin/13 Februari 2023        Pembahasan Anggaran SSMS tahun 2023
   Monday/February 13, 2023       Discussion regarding SSMS budget in 2023
      Kamis/13 April 2023         Persiapan RUPS Tahunan
     Thursday/April 13, 2023      Preparing for Annual GMS
          28 April 2023           Pembahasan Laporan Keuangan SSMS per 31 Maret 2023
          April 28, 2023          Discussion of SSMS Financial Statement per March 31, 2023
    Senin/21 Agustus 2023         Fasilitas Kredit Modal Kerja
    Monday/August 21, 2023        Working Capital Loan Facility
    Selasa/29 Agustus 2023        Pembahasan Laporan Keuangan Limited Review per 30 Juni 2023
    Tuesday/Auguts 29, 2023       Discussion regarding Limited Review of Financial Statement per June 30, 2023
    Kamis/19 Oktober 2023         Paparan Komite Audit atas Transaksi Debt to Equity Swap SSMS dan CBI
   Thursday/October 19, 2023      Audit Committee Explanation regarding Debt to Equity Swap Transaction of SSMS and CBI
     Jumat/27 Oktober 2023        Pembahasan Laporan Keuangan SSMS per 30 September 2023
     Friday/October 27, 2023      Discussion regarding SSMS Financial Statement per September 30, 2023
    Jumat/1 Desember 2023         Persiapan RUPS Luar Biasa dan Independen tanggal 5 Desember 2023
    Friday/December 1, 2023       Preparing for Extraordinary and Independent GMS on December 5, 2023


Rapat Gabungan Dewan Komisaris dengan Direksi tahun 2023                     The 2023 Joint Meeting of the Board of Commissioners and Board
telah diagendakan sebelum tahun berjalan yang dituangkan                     of Directors has been scheduled prior to the current year as
dalam program kerja Dewan Komisaris tahun 2022.                              outlined in the 2022 work program of the Board of Commissioners.


Selama tahun 2023, Rapat Gabungan Dewan Komisaris dengan                     During 2023, the Joint Meeting of the Board of Commissioners
Direksi telah dilakukan sebanyak 8 (delapan) kali yang dihadiri              with the Board of Directors has been held 8 (eight) times which
oleh anggota Dewan Komisaris dan Direksi.                                    was attended by members of the Board of Commissioners and
                                                                             Board of Directors.


Rapat Gabungan Dewan Komisaris dengan Direksi
Joint Meeting of Board of Commisioner and Board of Director

           Nama                                 Jabatan                        Jumlah Rapat            Jumlah Kehadiran            (%) Kehadiran
           Name                                 Position                       Total Meetings           Total Attendance         (%) of Attendance
                               Komisaris Utama
Bungaran Saragih                                                                      8                          8                        100
                               President Commissioner
                               Komisaris Independen
Hoesen                                                                                8                          8                        100
                               Independent Commissioner
                               Komisaris
Rimbun Situmorang                                                                     8                          8                        100
                               Commissioner
Rata-rata Kehadiran Dewan Komisaris                                                                                                       100
Average of Board of Commissioners’ attendance
                               Direktur Utama
Nasarudin bin Nasir                                                                   8                          8                        100
                               President Director
                               Direktur Keuangan
Jap hartono                                                                           8                          8                        100
                               Finance Director
                               Direktur Komersial
Muhammad Syafril Harahap                                                              8                          8                        100
                               Commercial Director
Rata-rata Kehadiran Direksi                                                                                                               100
Average of Board of Directors’ attendance
Rata-rata Kehadiran Dewan Komisaris dan Direksi                                                                                           100
Average of Board of Commissioners and Board of Directors attendance




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       PENILAIAN KINERJA DEWAN KOMISARIS                                   BOARD    OF           COMMISSIONERS             PERFORMANCE
                                                                           ASSESSMENT

       Hingga akhir tahun 2023, Perseroan masih belum memiliki             By the end of 2023, the Company have still not an assessment
       kebijakan penilaian terhadap Dewan Komisaris. Adapun                policy for the Board of Commissioners. The appointment of Board
       pengangkatan Dewan Komisaris sepenuhnya diserahkan pada             of Commissioners is completely carried out by shareholders at
       pemegang saham saat RUPS dengan mempertimbangkan kinerja            the GMS by considering the Company’s performance and Board
       Perseroan dan laporan tugas pengawasan Dewan Komisaris serta        of Commissioners Supervisory Task Report and Annual Report.
       Laporan Tahunan



       PENILAIAN KINERJA KOMITE              PENUNJANG        DEWAN        PERFORMANCE    ASSESSMENT    OF    SUPPORTING
       KOMISARIS                                                           COMMITTEE OF THE BOARD OF COMMISSIONERS

       Evaluasi terhadap kinerja anggota Komite Penunjang Dewan            The performance assessment of members of the Board of
       Komisaris dilakukan baik secara individual maupun secara kolektif   Commissioners’ Supporting Committee is conducted individually
       dengan periode setiap 1 (satu) tahun melalui self-assessment        and collectively once a year by self-assessment utilising the
       dengan menggunakan metode evaluasi dalam suatu sistem yang          evaluation technique stipulated by the Board of Commissioners’
       ditetapkan dalam Keputusan Dewan Komisaris. Hasil evaluasi          Decree. The results of the performance assessment of members
       kinerja anggota Komite Penunjang Dewan Komisaris menjadi            of the Board of Commissioners’ Supporting Committee serve
       bahan penilaian untuk perpanjangan masa kerja anggota Komite        as an assessment material for the extension of the service
       Penunjang Dewan Komisaris untuk tahun berikutnya. Penilaian         period of members of the Board of Commissioners’ Supporting
       di antaranya meliputi kehadiran dalam rapat, kemampuan              Committee for the following year. Attendance at meetings, the
       bekerja sama dan berkomunikasi secara aktif sesama anggota          ability to cooperate and communicate actively among Committee
       Komite, integritas, kemampuan memahami visi misi dan rencana        members, integrity, the ability to understand the Company’s vision,
       strategis Perusahaan, serta kualitas atas saran/rekomendasi yang    mission, and strategic plan, as well as the quality of suggestions/
       diberikan terkait program kerja masing-masing Komite Penunjang      recommendations given regarding the work program of each
       Dewan Komisaris.                                                    Supporting Committee of the Board of Commissioners, are all
                                                                           factors considered.


       Dalam melaksanakan tugas dan tanggung jawabnya, saat ini            In carrying out its duties and responsibilities, the Board of
       Dewan Komisaris didukung oleh 1 (satu) Komite, yaitu Komite         Commissioners is assisted by 1 (one) Committee, namely the
       Audit. Sedangkan Komite Nominasi dan Remunerasi masih dalam         Audit Committee. Meanwhile, the Nomination and Remuneration
       tahap pembentukan.                                                  Committee is still in the formation stage.


       Komite Audit membantu Dewan Komisaris dalam rangka                  The Audit Committee assists the Board of Commissioners in order
       mendukung efektivitas pelaksanaan tugas dan fungsi pengawasan       to support the effectiveness of the implementation of duties and
       atas hal-hal yang terkait dengan laporan keuangan, termasuk         supervisory functions on matters related to financial statements,
       terkait rekomendasi pengangkatan, pergantian dan pelaksanaan        including recommendations for appointment, replacement and
       tugas dan tanggung jawab fungsi audit internal dan eksternal        implementation of duties and responsibilities of internal and
       serta kepatuhan terhadap peraturan perundang-undangan yang          external audit functions, as well as compliance with prevailing
       berlaku.                                                            laws and regulations.




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KOMISARIS INDEPENDEN
INDEPENDENT COMMISSIONER




Komisaris Independen adalah anggota Dewan Komisaris yang         An independent commissioner is a member of the Board of
berasal dari luar Emiten atau Perusahaan Publik dan memenuhi     Commissioners who is not affiliated with the issuer or public
persyaratan sebagai Komisaris Independen sesuai dengan           company. To qualify as an independent commissioner, a person
Peraturan OJK Nomor 33/POJK.04/2014 tentang Direksi dan          must satisfy the following criteria, as outlined in OJK Regulation
Dewan Komisaris Emiten atau Perusahaan Publik di antaranya:      No. 33/POJK.04/2014 on the Board of Directors and Board of
                                                                 Commissioners of the issuer or public company:
•   Bukan merupakan orang yang bekerja atau mempunyai            • Not a person who works or has the authority and responsibility
    wewenang dan tanggung jawab untuk merencanakan,                 to plan, lead, control, or supervise the company’s activities
    memimpin, mengendalikan, atau mengawasi kegiatan                within the last 6 (six) months, except for reappointment as
    perusahaan dalam waktu 6 (enam) bulan terakhir, kecuali         Independent Commissioner.
    untuk pengangkatan kembali sebagai Komisaris Independen.
•   Tidak mempunyai saham baik langsung maupun tidak             •   Does not own shares either directly or indirectly in the
    langsung pada Perusahaan.                                        Company.
•   Tidak mempunyai hubungan usaha baik langsung maupun          •   Does not have a business relationship either directly or
    tidak langsung yang berkaitan dengan kegiatan usaha              indirectly related to the Company’s business activities.
    Perusahaan.
•   Tidak mempunyai hubungan afiliasi dengan Perusahaan,         •   Has no affiliation with the Company, members of the Board
    anggota Dewan Komisaris, anggota Direksi, atau Pemegang          of Commissioners, members of the Board of Directors, or
    Saham Pengendali Perusahaan.                                     Controlling Shareholders of the Company.



Keberadaan Komisaris Independen di Perusahaan                    Existence     of   Independent       Commissioner              in     the
                                                                 Company

Per 31 Desember 2023, Komisaris Independen dijabat oleh Hoesen   As of December 31, 2023, the position of Independent
yang diangkat berdasarkan Akta No. 65 Tanggal 30 September       Commissioner was held by Hoesen who was appointed based on
2022 yang dibuat oleh Notaris Aulia Taufani, SH.                 Deed No. 65 dated September 30, 2022 made before the Notary
                                                                 Aulia Taufani, SH.


Pernyataan Independensi Komisaris Independen                     Statement   of        Independence          of       Independent
                                                                 Commissioner

Sebelum diangkat sebagai Komisaris Independen, Bapak Hoesen      Prior being appointed as Independent Commissioner, Mr. Hoesen
telah menandatangani surat pernyataan Independen.                has signed statement letter of independent.




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DIREKSI
BOARD OF DIRECTORS




Direksi merupakan organ Perseroan yang berwenang dan                   Board of Directors is the Company’s organ that is authorized and
bertanggung jawab penuh atas pengurusan Perseroan untuk                fully responsible to manage the Company for the interests of the
kepentingan Perseroan, sesuai dengan maksud dan tujuan                 Company based on the goals and objectives of the Company. The
Perseroan, serta mewakili Perseroan di dalam maupun di luar            BOD also represents the Company in and outside the court of law
pengadilan sesuai ketentuan Anggaran Dasar. Direksi diangkat           in accordance with the provisions in Articles of Association. The
dan diberhentikan oleh RUPS.                                           BOD members are appointed and dismissed by GMS.



DASAR HUKUM                                                            LEGAL REFERENCES

1.   Undang-Undang No. 40 Tahun 2007 tentang Perseroan                 1.   The Law No. 40 of 2007 concerning Limited Liability
     Terbatas.                                                              Companies.
2.   POJK No. 33/POJK.04/2014 tentang Direksi dan Dewan                2.   POJK No. 33/POJK.04/2014 concerning the Board of Directors
     Komisaris Emiten Atau Perusahaan Publik.                               and Board of Commissioners of Issuers or Public Companies.
3.   Anggaran Dasar Perseroan.                                         3.   Company’s Articles of Association.



KRITERIA PENGANGKATAN DIREKSI                                          BOARD OF DIRECTORS APPOINTMENT CRITERIA

Direksi Perseroan telah memenuhi kriteria yang sebagaimana             The Company’s Board of Directors has fulfilled the following
ditetapkan oleh POJK 33/2014 yaitu sebagai berikut:                    criteria as stipulated by POJK 33/2014:


1.   Memiliki akhlak, moral yang baik dan integritas yang baik serta   1.   have good morals and integrity as well as capable of doing
     cakap melakukan perbuatan hukum;                                       legal action;
2.   Dalam 5 (lima) tahun sebelum pengangkatan dan selama              2.   within 5 (five) years before appointment and during the term of
     menjabat:                                                              office:
     a. tidak pernah dinyatakan pailit;                                     a. has never been declared bankrupt;
     b. tidak pernah menjadi anggota Direksi dan/ atau anggota              b. has never been a member of the Board of Directors and/
        Dewan komisaris yang dinyatakan bersalah menyebabkan                     or a member of the Board of Commissioners that is found
        suatu perusahaan dinyatakan pailit;                                      guilty of causing a company to be declared bankrupt;
     c. tidak pernah dihukum karena melakukan tindak pidana                 c. has never been punished for committing criminal acts that
        yang merugikan keuangan negara dan/atau yang                             are detrimental to state finances and/or relating to the
        berkaitan dengan sektor keuangan; dan                                    financial sector; and
     d. tidak pernah menjadi anggota Direksi dan/atau anggota               d. has never been a member of the Board of Directors and/
        Dewan komisaris yang selama menjabat:                                    or any member of the Board of Commissioners during his
                                                                                 tenure:



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                 i.    pernah tidak menyelenggarakan RUPS tahunan;                                 i.  has never convened an annual GMS;
                 ii.   pertanggungjawabannya sebagai anggota Direksi                               ii. his/her accountability as a member of the Board
                       dan/atau anggota Dewan komisaris pernah tidak                                   of Directors and/or a member of the Board of
                       diterima oleh RUPS atau pernah tidak memberikan                                 Commissioners has not been accepted by the GMS
                       pertanggungjawaban sebagai anggota Direksi dan/                                 or has not granted responsibility         as a member
                       atau anggota Dewan komisaris kepada RUPS; dan                                   of the Board of Directors and/or members of the
                                                                                                       Board of Commissioners to the General Meeting of
                                                                                                       Shareholders; and
               iii. pernah menyebabkan perusahaan yang memperoleh                                 iii. has never caused a company obtaining permit,
                    izin, persetujuan, atau pendaftaran dari Otoritas jasa                             approval or registration from the Financial Services
                    keuangan tidak memenuhi kewajiban menyampaikan                                     Authority fails to fulfill the obligation to submit the
                    Laporan Tahunan dan/ atau Laporan keuangan                                         Annual Report and/or Financial Statement to the
                    kepada Otoritas jasa keuangan.                                                     Financial Services Authority.
       3.   Memiliki komitmen untuk mematuhi peraturan perundang-                         3.   have a commitment to comply with laws and regulations; and
            undangan; dan
       4.   Memiliki pengetahuan dan/atau keahlian di bidang yang                         4.   have knowledge and/or expertise in the field.
            dibutuhkan Perseroan.



       KEANGGOTAAN DIREKSI                                                                MEMBERSHIP OF BOARD OF DIRECTORS

       Di tahun 2023 Direksi Perseroan terdiri dari tiga anggota yang                     In 2023, the Company’s Board of Directors consists of three
       meliputi satu Direktur Utama, dan 2 (dua) Direktur. Berikut                        members, including one President Directorer, and two Directors.
       komposisi Direksi Perseroan per tanggal 31 Desember 2023:                          The following is the composition of the Board of Directers of the
                                                                                          Company as of December 31, 2023:


                  Nama                    Jabatan                      Dasar Pengangkatan                               Masa Jabatan              Periode Jabatan
                  Name                    Position                         Legal Basis                                  Term of Office                 Period
        Nasarudin bin Nasir         Direktur Utama       Akta No. 5 tanggal 7 Januari 2022 yang dibuat oleh   7 Januari 2022-RUPS Tahunan 2027    Periode ke-1
                                    President Director   Notaris Dr. Tintin Surtini, SH., MH., Mkn.           January 7, 2022 – the 2027 Annual   1st Period
                                                         Deed No. 5 dated January 7, 2022 made before the     GMS
                                                         Notary Dr. Tintin Surtini, SH., MH., Mkn.
        Jap Hartono                 Direktur             Akta No. 55 tanggal 28 Mei 2021 yang dibuat oleh     28 Mei 2021-RUPS Tahunan 2026       Periode ke-1
                                    Director             Notaris Dr. Tintin Surtini, SH., MH., Mkn.           May 28, 2021 – the 2026 Annual      1st Period
                                                         Deed No. 55 dated May 28, 2021 made before the       GMS
                                                         Notary Dr. Tintin Surtini, SH., MH., Mkn.
        Muhammad Syafril            Direktur             Akta No. 5 tanggal 7 Januari 2022 yang dibuat oleh   7 Januari 2022-RUPS Tahunan 2027    Periode ke-1
        Harahap                     Director             Notaris DR. Tintin Surtini, SH., MH., Mkn.           January 7, 2022 – the 2027 Annual   1st Period
                                                         Deed No. 5 dated January 7, 2022 made before the     GMS
                                                         Notary Dr. Tintin Surtini, SH., MH., Mkn.




       FIT AND PROPER TEST                                                                FIT AND PROPER TEST

       Mekanisme pengangkatan Direksi yang ditetapkan oleh RUPS                           The mechanism for appointing Board of Directors determined by
       telah sesuai dengan ketentuan peraturan perundang-undangan,                        GMS is in accordance with statutory provisions and is carried out
       serta dilakukan melalui mekanisme uji kelayakan dan kepatutan                      through a fit and proper test mechanism. Prospective members
       (fit and proper test). Calon anggota Direksi yang telah dinyatakan                 of Board of Directors who have passed the fit and proper test
       lulus uji kelayakan dan kepatutan wajib menadatangani kontrak                      must sign a management contract prior to their appointment as
       manajemen sebelum ditetapkan pengangkatannya sebagai                               members of Board of Directors.
       anggota Direksi.


       Hingga akhir tahun 2023, seluruh anggota Direksi SSMS telah                        Until the end year 2023, all members of the SSMS Board of
       memenuhi kriteria dan ketentuan yang dipersyaratkan dalam                          Directors have met the criteria and conditions required in the fit
       uji kepatutan dan kelayakan. Seluruh anggota Direksi Perseroan                     and proper test. All members of Company’s Board of Directors
       memiliki integritas, kompetensi, dan reputasi yang memadai.                        have adequate integrity, competence and reputation.




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MASA JABATAN DIREKSI                                              BOARD OF DIRECTORS TERM OF OFFICE

Masa jabatan anggota Direksi diangkat untuk jangka waktu 5        The term of office of members of Board of Directors is appointed
(lima) tahun sejak pengangkatan sampai dengan penutupan           for a period of 5 (five) years from appointment until the close of the
RUPS Tahunan ke-5 (lima) dan dapat diangkat kembali dengan        5th (fifth) Annual GMS and can be reappointed without prejudice
tidak mengurangi hak RUPS, sebagaimana yang tercantum di          to the rights of GMS, as listed below:
bawah ini:


a. Masa jabatan anggota Direksi 5 (lima) tahun dengan tidak       a. The term of office for members of Board of Directors is 5 (five)
   mengurangi hak RUPS untuk memberhentikan sewaktu-                 years without prejudice to the right of GMS to dismiss them at
   waktu.                                                            any time.
b. Anggota Direksi dapat diangkat kembali oleh RUPS untuk 1       b. Members of Board of Directors can be reappointed by GMS for
   (satu) kali masa jabatan.                                         1 (one) term of office.
c. Jabatan anggota Direksi akan berakhir, jika:                   c. The position of a member of Board of Directors will end if:
   1) Masa jabatan berakhir.                                         1) Term of office ends.
   2) Mengundurkan diri sesuai ketentuan yang berlaku.               2) Resign according to applicable regulations.
   3) Tidak lagi memenuhi persyaratan peraturan perundang-           3) No longer fulfilling the requirements of the applicable
       undangan yang berlaku.                                            laws and regulations.
   4) Meninggal dunia.                                               4) Passed away.
   5) Diberhentikan berdasarkan keputusan RUPS.                      5) Dismissed based on the decision of GMS.



PROSEDUR PENGANGKATAN DAN PEMBERHENTIAN                           PROCEDURES FOR APPOINTMENT AND DISMISSAL OF
DIREKSI                                                           DIRECTORS

Anggota Direksi diangkat oleh RUPS, masing-masing untuk           Members of Board of Directors are appointed by GMS, each for a
jangka waktu terhitung sejak pengangkatannya yang ditentukan      period commencing from their appointment determined at GMS
pada RUPS yang mengangkat mereka sampai penutupan RUPS            that appointed them until the close of the 5th (fifth) Annual GMS
Tahunan ke-5 (kelima) sejak tanggal pengangkatan mereka,          from the date of their appointment, without prejudice to the right
dengan tidak mengurangi hak RUPS untuk memberhentikannya          of GMS to dismiss them at any time by stating the reasons after the
sewaktu-waktu dengan menyebutkan alasannya setelah anggota        member of Board of Directors concerned is given the opportunity
Direksi yang bersangkutan diberi kesempatan untuk hadir dalam     to attend GMS to defend himself.
RUPS guna membela diri.


Pemberhentian demikian berlaku sejak penutupan Rapat              Such termination is effective from the close of the meeting that
yang memutuskan pemberhentiannya, kecuali bila tanggal            decided the termination, unless another date of dismissal is
pemberhentian yang lain ditentukan oleh Rapat tersebut. Anggota   determined by the meeting. Members of Board of Directors whose
Direksi yang masa jabatannya telah berakhir dapat diangkat        term of office has expired may be reappointed by GMS for 1 (one)
kembali oleh RUPS untuk 1 (satu) kali masa jabatan.               term of office.



TUGAS DAN TANGGUNG JAWAB                                          DUTIES AND RESPONSIBILITIES

1. Direksi bertanggung jawab penuh atas pengelolaan               1.   The Directors is fully responsible for the management of the
   Perseroan.                                                          Company.
2. Direksi menjalankan Perusahaan sesuai dengan kewenangan        2.   The Directors shall run the Company according to its authority
   dan tanggung jawabnya sebagaimana didefinisikan dalam               and responsibility as defined in the Articles of Association and
   Anggaran Dasar dan prosedur, kebijakan, dan pedoman terkait         any other related procedures, policies and guidelines.
   lainnya.
3. Anggota Direksi wajib menjalankan tugas dan kewenangannya      3. Member of the Directors shall run its duties and authorities in
   dengan itikad baik dan dengan penuh tanggung jawab.               good faith and with full responsibility.
4. Setiap anggota Direksi secara pribadi bertanggung jawab        4. Each member of the Directors is personally fully responsible
   penuh atas kerugian yang dialami oleh Perseroan jika dia          for any loss sustained by the Company when he/she is at fault
   salah atau lalai dalam melaksanakan tugas.                        or is negligent in performing duties.
5. Direksi bertanggung jawab dalam menerapkan prinsip-prinsip     5. The Directors shall be responsible to apply the principles of
   Good Corporate Governance dalam setiap aktivitas bisnis           Good Corporate Governance in every business activity of the
   Perseroan di semua jenjang organisasi.                            Company at all levels of the organization.
6. Direksi harus menindaklanjuti temuan audit dan rekomendasi     6. The Directors shall follow up audit findings of and
   yang dibuat oleh unit kerja audit internal Perseroan dan          recommendations made by the internal audit working unit of
   auditor eksternal, dan hasil pengawasan oleh Otoritas Jasa        the Company and external auditors, and results of supervision



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            Keuangan dan/atau otoritas pengawas lainnya.                      by Financial Services Authority and/or other overseeing
                                                                              authorities.
       7.  Direksi bertanggung jawab atas pelaksanaan tugasnya            7. The Directors shall be accountable for the performance
           kepada pemegang saham dalam Rapat Umum Pemegang                    of its duties to the shareholders in a General Meeting of
           Saham.                                                             Shareholders.
       8. Direksi memberikan data dan informasi yang akurat, relevan      8. The Directors shall provide accurate, relevant and timely data
           dan tepat waktu kepada Dewan Komisaris.                            and information to the Board of Commissioners.
       9. Direksi bertanggung jawab atas informasi apapun tentang         9. The Directors is responsible for any information about the
           Perseroan yang diumumkan oleh Perseroan.                           Company made public by the Company.
       10. Anggota Direksi melapor kepada Perseroan mengenai              10. Members of the Directors shall report to the Company any
           kepemilikan saham anggota atau anggota keluarganya di              shareholding of the member or his/her family members in the
           Perseroan atau perusahaan lain untuk dicatat lebih lanjut          Company or other companies for further recording in a special
           dalam daftar khusus.                                               register.
       11. Direksi harus mengembangkan dan mewujudkan pelaksanaan         11. Board of Directors shall develop and realize the implementation
           Budaya Kepatuhan pada semua tingkat organisasi dan                 of the Culture of Compliance at all levels of the organization
           kegiatan usaha Perusahaan.                                         and activities of the Company’s business.



       WEWENANG DIREKSI                                                   AUTHORITY OF BOARD OF DIRECTORS

       Direksi Perseroan memiliki wewenang sebagai berikut:               Board of Directors of Company has the following authorities:


       1.   Mendirikan suatu usaha atau turut serta mengambil saham       1.   To establish a business or participating in acquiring shares in
            pada perusahaan lain baik di dalam maupun di luar negeri;          other company, both domestic and overseas;
       2.   Melepaskan hak atau menjadikan jaminan harta kekayaan, baik   2.   To release rights or making collateral for assets, both movable
            barang bergerak maupun tidak bergerak milik Perseroan yang         and immovable property belonging to Company, which
            jumlahnya melebihi 10% dari keseluruhan modal ditempatkan          amount to more than 10% of the total issued and fully paid-up
            dan disetor penuh. Untuk pengecualian tersebut, harus              capital. For these exceptions, prior approval must be obtained
            meminta persetujuan terlebih dahulu dari Dewan Komisaris;          from Board of Commissioners;
       3.   Meminjam atau meminjamkan uang atas nama Perseroan            3.   To borrow or lend money on behalf of Company (excluding
            (tidak termasuk pengambilan uang Perseroan di bank) yang           withdrawing Company money at the bank) which amounts to
            jumlahnya melebihi 20% dari keseluruhan modal ditempatkan          more than 20% of the total issued and fully paid capital;
            dan disetor penuh;
       4.   Mengikat Perseroan sebagai penjamin yang jumlahnya            4.   To bind Company as a guarantor whose amount exceeds 10%
            melebihi 10% dari keseluruhan modal ditempatkan dan disetor        of the total issued and fully paid capital.
            penuh.



       PENDELEGASIAN WEWENANG DIREKSI                                     DELEGATION OF THE BOARD OF DIRECTORS AUTHORITY

       Berdasarkan Pasal 14 (6) Anggaran Dasar Perseroan, Direksi dapat   Under Article 14 (6) of the Company’s Articles of Association, the
       memberikan kuasa khusus kepada setiap karyawan perusahaan          Board of Directors may grant special authorities to each employee
       untuk melakukan tindakan hukum tertentu untuk atau atas nama       of the company to carry out certain legal actions for or on behalf
       perusahaan. Tindakan hukum khusus ini harus diatur dalam surat     of the company. This special legal action must be regulated in a
       kuasa yang berlaku hanya untuk tindakan khusus.                    power of attorney that applies only to the specific action.


       Di tahun 2023, tidak ada pendelegasian wewenang yang dilakukan     In 2023, the Board of Directors did not delegate authority for
       oleh Direksi untuk tindakan hukum tertentu atau untuk nama         certain legal actions or behalf of the Company.
       Perusahaan.



       PEMBAGIAN TUGAS DAN TANGGUNG JAWAB DIREKSI                         SEGREGATION OF DUTIES OF THE BOARD OF DIRECTORS

       Pembagian tugas masing-masing Direksi dilakukan guna               The division of tasks for each Board of Directors is carried out to
       menjamin pelaksanaan dan kesinambungan pencapaian sasaran          ensure implementation and continuity of achieving Company’s
       Perseroan pada masa mendatang secara lebih sistematis, efisien,    goals in the future in a more systematic, efficient and effective
       dan efektif.                                                       manner.




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Ruang lingkup tugas dan tanggung jawab masing-masing Direksi,       The scope of duties and responsibilities of each Board of Directors
adalah sebagai berikut:                                             is as follows:


•   Direktur Utama (Nasarudin bin Nasir)                            •   President Director (Nasarudin bin Nasir)
    Memiliki tanggung jawab atas seluruh aktivitas Perusahaan           Has responsibility for all Company activities and acts as
    dan berperan sebagai koordinator atas seluruh pelaksanaan           coordinator for all implementation of functions, duties and
    fungsi, tugas dan tanggung jawab di jajaran Direksi. Dalam          responsibilities within Board of Directors. In carrying out these
    melaksanakan tugasnya tersebut, Direktur utama dibantu              duties, President Director is assisted by 2 (two) Directors, each
    oleh 2 (dua) orang Direktur yang masing-masing merupakan            of whom is the Director in Charge of Operation and Director in
    Direktur yang Membawahi Operasional dan Direktur yang               Charge of Finance. President Director also directly oversees
    Membawahi Keuangan. Direktur Utama juga secara langsung             Plantation Advisory, Licensing, Research and Development,
    mengawasi bagian Penasehat Perkebunan, Perizinan,                   Sustainability sections.
    Penelitian dan Pengembangan, Sustainability.


•   Direktur yang Membawahi Operasional (M. Syafril Harahap)        •   Director in Charge of Operation (M. Syafril Harahap)
    Memiliki tanggung jawab atas seluruh aktifitas terkait dengan       Has responsibility for all activities related to plantation
    operasional perkebunan, termasuk juga produksi, area                operations, including production, plantation area and plasma.
    perkebunan serta plasma.


•   Direktur yang Membawahi Keuangan (Jap Hartono)                  •   Director in Charge of Finance (Jap Hartono)
    Memiliki tanggung jawab atas seluruh aktivitas yang terkait         Has responsibility for all activities related to Corporate Finance,
    dengan Keuangan Perusahaan, Pengawasan Keuangan,                    Financial Supervision, Legal, Risk Management, Government
    Hukum, Manajemen Risiko, Relasi Pemerintah dan Perbankan.           Relations and Banking.



TATA TERTIB DIREKSI                                                 BOARD OF DIRECTORS RULES

Dalam melaksanakan tugas dan tanggung jawabnya, Direksi             In carrying out its duties and responsibilities, Board of Directors
mengacu kepada aturan-aturan dan ketentuan:                         refers to the rules and regulations:


•   Piagam Direksi yang diterbitkan Perseroan pada tahun 2017;      •   Charter of Board of Directors issued by Company in 2017;
•   Anggaran Dasar maupun Peraturan perundang-undangan              •   Articles of Association and the applicable laws and regulations,
    yang berlaku, khususnya Undang- Undang No. 40 tahun 2007            especially Law No. 40 year 2007 concerning Limited Liability
    tentang Perseroan Terbatas;                                         Company;
•   Peraturan Otoritas Jasa Keuangan (POJK) No. 33/                 •   Financial Services Authority Regulation (FSA Regulation)
    POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten             No. 33/POJK.04/2014 concerning Directors and Board of
    atau Perusahaan Publik; dan                                         Commissioners of Issuers or Public Company;



PIAGAM DIREKSI                                                      BOARD OF DIRECTORS CHARTER

Dalam menjalankan tugasnya, Direksi mempunyai peran yang            In carrying out their duties, Board of Directors has a very important
sangat penting dalam mengelola jalannya usaha Perseroan,            role in managing the running of Company’s business, so a work
sehingga diperlukan suatu pedoman kerja sebagai landasan            guideline is needed as a basic foundation for Board of Directors
dasar bagi Direksi dalam melaksanakan tugas tanggung jawab          in carrying out their duties and responsibilities and authorities to
dan wewenangnya untuk memenuhi kepentingan Pemegang                 fulfill the interests of Shareholders and other Stakeholders.
Saham dan Pemangku Kepentingan lainnya.


Perseroan telah memiliki Piagam Direksi yang diterbitkan pada       Company has a Board of Directors Charter issued in 2017. Board
tahun 2017. Piagam Direksi disusun sesuai dengan Perundang-         of Directors Charter is prepared in accordance with the applicable
Undangan yang berlaku dan Anggaran Dasar Perseroan. Piagam          laws and Company’s Articles of Association. Board of Directors’
Direksi memuat hal-hal yang terkait dengan organisasi, tugas        Charter contains matters related to the organization, duties and
dan tanggungjawab, wewenang, etika kerja, keterbukaan,              responsibilities, authority, work ethics, openness, the formation of
pembentukan komite dan tata tertib rapat Direksi serta Organ        committees and the rules for meeting the Directors and Board of
Pendukung Direksi. Pedoman dan Tata Tertib Kerja Direksi disusun    Directors’ Supporting Organs. Board of Directors’ Work Guidelines
berdasarkan peraturan yang berlaku dan senantiasa ditinjau          and Rules are prepared based on applicable regulations and are
ulang secara berkala.                                               regularly reviewed.




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       RANGKAP JABATAN DAN BENTURAN KEPENTINGAN                             CONCURRENT POSITIONS AND CONFLICT OF INTERESTS

       Berdasarkan Pedoman GCG Perseroan, anggota Direksi dapat             Based on the Company’s GCG Guidelines, members of the Board
       menjabat lebih dari satu jabatan sebagai fungsi-fungsi berikut:      of Directors may hold more than one position as the following
                                                                            functions:


       a    Sebagai anggota Direksi paling banyak pada 1 (satu) Emiten      a. As member of the Board of Directors of a maximum 1 (one)
            atau perusahaan publik lain.                                       Issuers or other public companies.
       b    Sebagai anggota Dewan Komisaris paling banyak pada 3 (tiga)     b. As member of the Board of Commissioners of a maximum 3
            Emiten atau perusahaan publik lain.                                (three) Issuers or other public companies.
       c    Sebagai anggota Komite paling banyak pada 5 (lima) Komite       c. As member of Committee of a maximum of 5 (five) committees
            di Emiten atau perusahaan publik dimana yang bersangkutan          in Issuers or other public companies where the person
            menjabat sebagai anggota Direksi atau Dewan Komisaris.             concerned serves as a member of the Board of Directors or
                                                                               Board of Commissioners.


       Untuk menjaga benturan kepentingan dari rangkap jabatan yang         As part of independence and professionalism, also to avoid
       dimiliki serta sebagai independensi dan profesionalisme, setiap      conflicts of interest from holding multiple positions, each member
       anggota Direksi harus memiliki etika sebagai berikut:                of the Board of Directors must have the following ethics:


       1.   Setiap anggota Direksi setiap waktu harus menghindari           1.   All members of the Board of Directors at all times must avoid
            berada dalam posisi di mana kepentingan pribadinya dapat             being in a position where their personal interests may conflict
            berbenturan dengan tugasnya dalam Perseroan.                         with his duties in the Company.
       2.   Setiap anggota Direksi wajib segera melaporkan kepada           2.   All members of the Board of Directors must immediately
            Direktur Utama dan anggota Direksi lainnya setiap benturan           report to the President Director and other members of the
            kepentingan atau potensi benturan kepentingan dengan                 Board of Directors any conflict of interest or potential conflict
            Perseroan dan wajib menyediakan seluruh informasi yang               of interest with the Company and must provide all relevant
            relevan dalam laporan tersebut.                                      information in the report.
       3.   Direktur yang memiliki benturan kepentingan tidak boleh         3.   Directors who have a conflict of interest may not be involved in
            terlibat dalam proses pengambilan keputusan terhadap hal             the decision-making process on matters that have a conflict of
            yang terdapat benturan kepentingan terhadap dirinya.                 interest against them.


       PROGRAM PENGENALAN PERUSAHAAN UNTUK DIREKSI                          COMPANY INDUCTION PROGRAM FOR DIRECTORS

       Perseroan melaksanakan program pengenalan bagi anggota               The Company conducts an induction program for new members
       Direksi yang baru dengan tujuan memberikan gambaran atas             of the Board of Directors with the aim of providing an overview
       aktivitas bisnis, rencana perusahaan ke depan, pedoman kerja         of business activities, future company plans, work guidelines and
       dan hal lainnya yang menjadi tanggung jawab Direksi.                 other matters that are the responsibility of the Board of Directors.


       Selain pemaparan Perusahaan, dalam program pengenalan                Apart from the Company’s presentation, the Company’s induction
       Perusahaan juga disampaikan dokumen-dokumen penunjang                program also conveyed other supporting documents including
       lainnya antara lain Laporan Tahunan, Rencana Kerja dan               the Annual Report, the Company’s Work Plan and Budget, Articles
       Anggaran Perusahaan, Anggaran Dasar, Rencana Jangka Panjang          of Association, the Company’s Long-Term Plan, and so forth.
       Perusahaan, dan sebagainya.


       Pada tahun 2023, tidak terdapat pengangkatan Direksi baru sehingga   In 2023, no appointment of new Directors was taking place, hence
       tidak dilakukan program pengenalan perusahaan untuk Direksi.         no company induction program was carried out for Directors.


       PROGRAM PENGEMBANGAN KOMPETENSI DIREKSI                              BOARD OF DIRECTORS COMPETENCY DEVELOPMENT
                                                                            PROGRAM

       Guna mengembangkan kompetensi dan pengetahuan Direksi,               In order to develop the competence and knowledge of the Board
       Perusahaan senantiasa memutakhirkan pengetahuan Direksi              of Directors, the Company constantly updates the knowledge of the
       melalui kegiatan pelatihan, workshop, seminar, conference, ataupun   Board of Directors through training activities, workshops, seminars,
       dalam bentuk kunjungan kerja serta studi banding (benchmark) yang    conferences, or in the form of work visits and benchmark studies that are
       bermanfaat dalam meningkatkan efektivitas fungsi Direksi.            useful in improving the effectiveness of the Board of Directors’ functions.


       Pada tahun 2023, seluruh Direksi Perseroan mengikuti konferensi      In 2023, all of The Company’s Directors were attended the19th
       ke-19 Indonesian Palm Oil Conference (IPOC) dengan tema              Indonesian Palm Oil Conference with theme Enhancing Resiliency
       “Enhancing Resiliency Amid Market Uncertainty” di Bali pada          Amid Market Uncertainty” in Bali at November 1-3, 2023
       tanggal 1 – 3 November 2023.



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KEBIJAKAN SUKSESI DIREKSI                                           BOARD OF DIRECTORS SUCCESSION POLICY

Untuk menyiapkan pimpinan Perusahaan, khususnya anggota             To prepare the Company’s leaders, especially members of the
Direksi yang profesional, berintegritas, berdedikasi dan memiliki   Board of Directors who are professional, with integrity, dedicated
kompetensi dalam menjalankan kegiatan Operasional Perusahaan,       and competent in carrying out the Company’s operational
maka Persyaratan pencalonan Direksi yang akan ditetapkan            activities, the requirements for the nomination of the Board of
dalam RUPS mengacu pada Anggaran Dasar Perseroan, Peraturan         Directors to be determined in the GMS refer to the Company’s
Otoritas Jasa Keuangan (POJK) No. 33/POJK.04/2014 tentang           Articles of Association, Financial Services Authority Regulation
Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.          (POJK) No. 33/POJK.04/2014 concerning the Board of Directors
                                                                    and Board of Commissioners of Issuers or Public Companies.


Sebagaimana tercantum dalam POJK No. 33/POJK.04/2014,               As stated in POJK No. 33/POJK.04/2014, proposals for
usulan pengangkatan, pemberhentian, dan/atau penggantian            appointment, dismissal, and/or replacement of members
anggota Direksi kepada RUPS harus memperhatikan rekomendasi         of the Board of Directors to the GMS must take into account
dari Dewan Komisaris atau komite yang menjalankan fungsi            the recommendations of the Board of Commissioners or the
nominasi. Dalam hal ini, Komite Nominasi dan Remunerasi             committee that carries out the nomination function. In this case,
Perseroan masih dalam keadaan kosong sehingga fungsi nominasi       the Company’s Nomination and Remuneration Committee is in
berada pada Dewan Komisaris yang memiliki peran dalam proses        a vacuum so that the nomination function is carried out by the
pencalonan Anggota Direksi Perseroan.                               Board of Commissioners that has a role in the nomination process
                                                                    for Members of the Company’s Board of Directors.



INDEPENDENSI DIREKSI                                                BOARD OF DIRECTORS INDEPENDENCE

Seluruh anggota Direksi Perseroan tidak memiliki hubungan           All members of the Company’s Board of Directors do not have
keuangan, hubungan keluarga sampai dengan derajat kedua, baik       financial relationships, family relationships up to the second
hubungan horizontal maupun vertikal (termasuk mertua, menantu       degree, both horizontal and vertical relationships (including in-
dan ipar) dengan sesama anggota Direksi, anggota Dewan              laws, sons-in-law and in-laws) with fellow members of the Board of
Komisaris, dan/atau pemegang saham utama Perseroan atau             Directors, members of the Board of Commissioners, and/or major
grup usaha Perseroan. Dengan demikian seluruh anggota Direksi       shareholder of the Company or the Company’s business group.
adalah independen. Direksi juga senantiasa menjunjung tinggi        Thus, all members of the Board of Directors are independent.
prinsip independensi dan mengutamakan kepentingan Perseroan         The Board of Directors also always upholds independency and
di atas kepentingan sendiri, serta bekerja dan berperilaku dengan   prioritizes the interests of the Company above their own interests.
integritas tinggi.                                                  The Board of Directors works and conducts with high integrity.


Seluruh anggota Dewan Komisaris dan Direksi telah                   All members of Board of Commissioners and Directors have
menandatangani      Pernyataan     Komitmen/Pakta     Integritas    signed a Statement of Commitment/Member Integrity Pact. One
Anggota. Salah satu butir yang tercantum adalah komitmen untuk      of the items listed is commitment to always maintain independenc
selalu menjaga independensi dan integritas yang berpengaruh         and integrity that affect the activities of the management and
pada aktivitas fungsi pengelolaan dan pengawasan operasional        operational supervision functions of PT Sawit Sumbermas Sarana
PT Sawit Sumbermas Sarana Tbk.                                      Tbk.



PELAKSANAAN TUGAS DAN TANGUNG JAWAB DIREKSI                         IMPLEMENTATION OF DUTIES AND RESPONSIBILITIES OF
TAHUN 2023                                                          THE BOARD OF DIRECTORS IN 2023

Selama Tahun 2023, Direksi telah melaksanakan tugas yang            During 2023, the Board of Directors has carried out strategic
bersifat strategis, antara lain sebagai berikut:                    duties, including the following:


1.   Melakukan pelunasan obligasi Perseroan senilai $40,275,000.    1.   Paid off $40,275,000 in the Company’s bonds.
2.   Pembagian dividen senilai Rp710,98 miliar kepada pemegang      2.   Dividend distribution of IDR710.98 billion to shareholders.
     saham.
3.   Penyelesaian sebagian utang milik PT Citra Borneo Indah        3.   Partial settlement of debt belonging to PT Citra Borneo Indah
     (“CBI”) kepada Perseroan melalui pengalihan kepemilikan             (“CBI”) to the Company by transfer of CBI’s share ownership in
     saham milik CBI pada PT Citra Borneo Utama Tbk (“CBUT”)             PT Citra Borneo Utama Tbk (“CBUT”) to the Company.
     kepada Perseroan.
4.   Perubahan Kedua Perjanjian Kredit Sindikasi dan Perubahan      4.   Second Amendment of Syndicated Credit Agreement and Third
     Ketiga Perjanjian Line Facility Pembiayaan Sindikasi                Amendment of Syndicated Financing Line Facility Agreement
5.   Fasilitas Pembiayaan Faktur Impor                              5.   Import Invoice Financing Facility




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       Daftar Surat Keputusan Direksi                                      Decrees of the Board of Directors

       Selain itu, anggota Direksi juga telah mengeluarkan berbagai        In addition, members of the Board of Directors have also issued
       keputusan, baik di bidang keuangan, pengembangan, operasional,      various decisions, both in finance, development, operations,
       sumber daya manusia, Corporate Social Responsibility (CSR), serta   human resources, Corporate Social Responsibility (CSR), and
       pemasaran. Surat Keputusan (SK) Direksi yang dihasilkan selama      marketing. The Decree (SK) of the Board of Directors produced
       tahun 2023 adalah sebagai berikut:                                  during 2023 is as follows:


       1.   Fasilitas Kredit Modal Kerja                                   1.   Working Capital Credit Facility
       2.   Rencana Transaksi Penyelesaian Utang PT Citra Borneo Indah     2.   Debt Settlement Transaction Plan of PT Citra Borneo Indah
            (“CBI”) kepada Perseroan dengan penyerahan saham PT Citra           (“CBI”) to the Company with the delivery of shares of PT Citra
            Borneo Utama Tbk (“CBUT”) sebagai pembayaran utang CBI              Borneo Utama Tbk (“CBUT”) as payment of CBI’s debt to the
            kepada Perseroan                                                    Company



       Perbuatan Direksi yang Memerlukan Persetujuan Tertulis              Board of Directors Actions that Require Written Approval
       dari Dewan Komisaris                                                from the Board of Commissioners

       Adapun perbuatan-perbuatan Direksi yang harus mendapat              The actions of the Board of Directors that must receive written
       persetujuan tertulis dari Dewan Komisaris selama tahun 2023,        approval from the Board of Commissioners during 2023 include:
       antara lain:


       1.   Fasilitas Kredit Modal Kerja                                   1.   Working Capital Credit Facility
       2.   Rencana Transaksi Penyelesaian Utang PT Citra Borneo Indah     2.   Debt Settlement Transaction Plan of PT Citra Borneo Indah
            (“CBI”) kepada Perseroan dengan penyerahan saham PT Citra           (“CBI”) to the Company with the delivery of shares of PT Citra
            Borneo Utama Tbk (“CBUT”) sebagai pembayaran utang CBI              Borneo Utama Tbk (“CBUT”) as payment of CBI’s debt to the
            kepada Perseroan                                                    Company



       RAPAT DIREKSI                                                       BOARD OF DIRECTORS MEETINGS

       Berdasarkan Anggaran Dasar Perseroan, rapat Direksi wajib           Based on the Company’s Articles of Association, meetings of
       diselenggarakan secara berkala minimal 1 (satu) kali setiap bulan   the Board of Directors must be held periodically at least once
       atau 12 (dua belas) kali dalam setahun dan dapat dilakukan setiap   every month or 12 (twelve) times a year and can be held at any
       waktu tergantung dengan tingkat kebutuhan. Pemberitahuan            time depending on the needs. Notice of meeting shall be sent
       rapat dikirim melalui surat elektronik terdaftar atau surat yang    by registered electronic mail or letter delivered directly to each
       disampaikan langsung kepada setiap anggota Direksi sekurang-        member of the Board of Directors at least 7 (seven) days prior to
       kurangnya 7 (tujuh) hari sebelum rapat, tanpa menghitung tanggal    the meeting, without counting the notification date and meeting
       pemberitahuan dan tanggal rapat.                                    date.


       Rapat dapat diadakan baik dengan kehadiran fisik atau non-          Meetings can be held either with physical or non-physical
       fisik. Rapat dengan kehadiran non-fisik dapat dilakukan melalui     attendance. Meetings with non-physical presence can be
       teleconference, video conference atau fasilitas media elektronik    conducted via teleconference, video conference or other
       lainnya. Jika seorang anggota Direksi tidak dapat menghadiri        electronic media facilities. If a member of the Board of Directors
       Rapat, ia dapat menunjuk seorang anggota lain dari Direksi untuk    is unable to attend the Meeting, he/she may appoint another
       mewakilinya dalam menghadiri Rapat berdasarkan surat kuasa          member of the Board of Directors to represent him/her in
       khusus yang diberikan untuk tujuan tersebut.                        attending the Meeting pursuant to a specific proxy granted for
                                                                           that purpose.


       Rapat Direksi tahun 2023 telah diagendakan sebelum tahun            The 2023 Board of Directors Meeting has been scheduled prior to
       berjalan yang dituangkan dalam program kerja Direksi tahun 2022.    the current year as outlined in the 2022 Board of Directors work
                                                                           program.


       Selama tahun 2023, Rapat internal Direksi telah dilakukan           During 2023, internal meetings of the Board of Directors have
       sebanyak 9 (sembilan) kali yang dihadiri oleh anggota Direksi       been held 9 (nine) times attended by members of the Board of
       dengan agenda berikut:                                              Directors with the following agenda:




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Agenda Rapat Direksi
Board of Directors Meeting Agenda

        Tanggal
                                                                                      Agenda
          Date
   1 Desember 2023       Rapat PRA RUPS independent
   December 1, 2023      Independent PRE-GMS meeting
    27 Oktober 2023      Pembahasan Laporan Keuangan SSMS per 30 September 2023
    October 27, 2023     Discussion of SSMS Financial Statements as of September 30, 2023
    19 Oktober 2023      Rencana Transaksi Penyelesaian Utang PT Citra Borneo Indah (“CBI”) kepada Perseroan dengan penyerahan saham PT Citra
    October 19, 2023     Borneo Utama Tbk (“CBUT”) sebagai pembayaran utang CBI kepada Perseroan
                         Debt Settlement Transaction Plan of PT Citra Borneo Indah ("CBI") to the Company with the delivery of shares of PT Citra Borneo
                         Utama Tbk ("CBUT") as payment of CBI's debt to the Company
    29 Agustus 2023      Pembahasan Laporan Keuangan Tengah Tahun 2023 (limited review)
    August 29, 2023      Discussion of 2023 Mid-Year Financial Statements (limited review)
    21 Agustus 2023      Fasilitas Kredit Modal Kerja
    August 21, 2023      Working Capital Credit Facility
     28 April 2023       Pembahasan Laporan Keuangan SSMS per 31 Maret 2023
     April 28, 2023      Discussion of SSMS Financial Statements as of March 31, 2023
     13 April 2023       Pembahasan PRA RUPS Tahunan
     April 13, 2023      PRA Discussion of Annual GMS
    28 Maret 2023        Pembahasan Laporan Keuangan SSMS Tahun (full year) 2022
    March 28, 2023       Discussion of SSMS Financial Statements for the Year (full year) 2022
   13 Februari 2023      Pembahasan Anggaran Perseroan Tahun 2023
   February 13, 2023     Discussion of the Company's 2023 Budget




Rapat Direksi
Board of Directors Meeting

                  Nama                                 Jabatan                Jumlah Rapat             Jumlah Kehadiran               (%) Kehadiran
                  Name                                 Position               Total Meeting             Total Attendance             (%) Attendance
                                            Direktur Utama
Nasarudin bin Nasir                                                                  9                         9                             100
                                            President Director
                                            Direktur
Jap Hartono                                                                          9                         9                             100
                                            Director
                                            Direktur
Muhammad Syafril Harahap                                                             9                         9                             100
                                            Director




PENILAIAN KINERJA DIREKSI                                                       BOARD OF DIRECTORS PERFORMANCE ASSESSMENTS

Hingga akhir tahun 2023, Perseroan masih belum memiliki                         By the end of 2023, the Company have still not an assessment
kebijakan penilaian terhadap Direksi. Adapun pengangkatan                       policy for the Board of Directors. The appointment of Board of
Direksi sepenuhnya diserahkan pada pemegang saham saat                          Directors is completely carried out by shareholders at the GMS by
RUPS dengan mempertimbangkan kinerja Perseroan dan laporan                      considering the Company’s performance and Board of Directors
pelaksanaan tugas Direksi serta Laporan Tahunan.                                Task Report and Annual Report.



PENILAIAN KINERJA KOMITE DI BAWAH DIREKSI                                       PERFORMANCE ASSESSMENT OF COMMITTEES UNDER
                                                                                THE BOARD OF DIRECTORS

Perseroan tidak memiliki Komite yang berada di bawah Direksi.                   The Company does not establish a Committee under the Board
Pelaksanaan tugas dan tanggung jawab Direksi didukung oleh                      of Directors. The implementation of duties and responsibilities of
Satuan Kerja yang dipimpin oleh Division Head/General Manager/                  the Board of Directors is supported by the Work Unit led by the
Project Manager serta Organ Fungsional lainnya.                                 Division Heads/ General Managers/ Project Managers and other
                                                                                Functional Organs.




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       FUNGSI DAN PROSEDUR PENETAPAN NOMINASI DAN REMUNERASI DEWAN KOMISARIS
       DAN DIREKSI
       FUNCTIONS AND PROCEDURES FOR DETERMINATION NOMINATION AND REMUNERATION OF THE BOARD OF COMMISSIONERS AND DIRECTORS

       FUNGSI NOMINASI DAN                   REMUNERASI         DEWAN        FUNCTION OF NOMINATION AND REMUNERATION FOR
       KOMISARIS DAN DIREKSI                                                 THE BOARD OF COMMISSIONERS AND DIRECTORS

       Semenjak terjadi kekosongan Komite Nominasi dan Remunerasi            Since the Company’s Nomination and Remuneration Committee
       Perseroan, maka fungsi nominasi dan remunerasi Perseroan              went into vacuum, the Company’s Nomination and Remuneration
       dijalankan oleh Dewan Komisaris. Hal ini sesuai dengan Undang-        functions are carried out by the Board of Commissioners. This is in
       Undang Perseroan Terbatas No. 40 Tahun 2007.                          accordance with the Limited Liability Law No. 40 Year 2007.


       Kebijakan Remunerasi                                                  Remuneration Policy

       Kebijakan Remunerasi bagi Dewan Komisaris dan Direksi                 The remuneration policy for Board of Commissioners and
       mengacu pada Anggaran Dasar Perseroan dan Pedoman GCG                 Directors refers to the Company’s Articles of Association and
       di mana gaji dan remunerasi Dewan Komisaris dan Direksi               GCG Guidelines where is the salary and remuneration of the
       ditentukan sesuai keputusan RUPS. Penetapan besaran gaji dan          Board of Commissioners and Directors is determined by the
       remunerasi untuk Dewan Komisaris dan Direksi diusulkan dalam          GMS Resolutions. The determination of the amount of salary
       rapat Dewan Komisaris berdasarkan pada pertimbangan hasil             and remuneration for the Board of Commissioners and Directors
       kinerja dan pencapaian target Perseroan, besaran pendapatan           is proposed at the Board of Commissioners’ meeting based
       tahun sebelumnya, beban tugas dan tanggung jawab, serta               on consideration of the Company’s performance results and
       tingkat remunerasi eksekutif pada perusahaan sejenis. Dewan           achievement of targets, the previous year’s income, the burden of
       Komisaris kemudian mengusulkan nilai remunerasi tahunan ke            duties and responsibilities, as well as the executive remuneration
       para pemegang saham untuk disetujui di dalam RUPS Tahunan.            level in similar companies. Then, the Board of Commissioners
                                                                             proposes the amount of annual remuneration to the shareholders
                                                                             to be approved at the Annual GMS.



       PROSEDUR    PENETAPAN                REMUNERASI          DEWAN        PROCEDURES FOR DETERMINATION OF BOARD OF
       KOMISARIS DAN DIREKSI                                                 COMMISSIONERS AND DIRECTORS REMUNERATIONS

       Berikut prosedur penetapan remunerasi Dewan Komisaris dan             The following is the procedure for determining remuneration for
       Direksi:                                                              the Board of Commissioners and the Board of Directors:
       1. Dewan Komisaris melakukan evaluasi terhadap kinerja Dewan          1. The Board of Commissioners evaluates the performance of
           Komisaris dan Direksi;                                                the Board of Commissioners and the Board of Directors;
       2. Dewan Komisaris menetapkan besaran remunerasi bagi                 2. The Board of Commissioners determines the amount of
           Dewan Komisaris dan Direksi secara proporsional berdasarkan           remuneration for the Board of Commissioners and the Board of
           hasil evaluasi kinerja;                                               Directors proportionally based on the performance evaluation
                                                                                 results;
       3.   Dewan Komisaris mengusulkan nilai remunerasi tahunan ke          3. The Board of Commissioners proposes the amount of annual
            para pemegang saham melalui RUPS                                     remuneration to shareholders through the GMS
       4.   RUPS memutuskan nilai remunerasi tahunan bagi Dewan              4. The GMS decides the amount of annual remuneration for the
            Komisaris dan Direksi                                                Board of Commissioners and the Board of Directors


       Besaran atau nominal remunerasi diputuskan oleh Dewan                 Amount or nominal of remuneration will be decided by Board of
       Komisaris dengan mempertimbangkan faktor berikut:                     Commissioners by determining the following factors:


       1.   Laporan dari konsultan tenaga kerja independen;                  1.   Reports from independent labour consultants;
       2.   Perusahaan lain yang memiliki bisnis yang sama atau mirip        2.   Other companies that have the same or similar business as the
            dengan Perseroan;                                                     Company;
       3.   Klasifikasi dan porsi kerja dari masing-masing anggota Direksi   3.   Classification and portion of work of each member of the
            dan Dewan Komisaris; dan                                              Board of Directors and Board of Commissioners; and
       4.   Biaya hidup untuk saat ini di Jakarta yang didasarkan pada,      4.   The current cost of living in Jakarta is based on, but not limited
            namun tidak terbatas pada, tingkat inflasi nasional.                  to, the national inflation rate.




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Struktur Remunerasi Dewan Komisaris dan Direksi                                    Board of Commissioners and Directors Remuneration
                                                                                   Structure
Struktur remunerasi yang menunjukkan komponen Remunerasi                           The remuneration structure that indicates the Remuneration
dan jumlah nominal per komponen untuk seluruh anggota Dewan                        component and nominal amount per component for all members
Komisaris dan Direksi selama tahun 2023 adalah sebagai berikut:                    of the Board of Commissioners and Drectors during 2023 is as
                                                                                   follows:


                             Dewan Komisaris                                                                    Direksi
                          Board of Commissioners                                                            Board o Directors
Honorarium                                                                     Gaji
Honorarirum                                                                    Salaries
Bonus, tunjangan rutin, dan fasilitas lainnya dalam bentuk non-natura          Bonus, tunjangan rutin, dan fasilitas lainnya dalam bentuk non-natura
Bonus, routine allowance, and other non natura facilities                      Bonus, routine allowance, and other non natura facilities
Fasilitas lain dalam bentuk natura                                             Fasilitas lain dalam bentuk natura
Other natura facilities                                                        Other natura facilities



Jumlah remunerasi Dewan Komisaris dan Direksi secara agregat                       The amount of remuneration for the Board of Commissioners and
dalam 1 (satu) tahun yang diterima secara tunai selama tahun                       Directors in aggregate for 1 (one) year which is received in cash
2023 adalah sebagai berikut:                                                       during 2023 are as follows:


                   Remunerasi
                                                                            2023                                                2022
                  Remuneration
Dewan Komisaris
                                                                        27.083.952.831                                    16.486.227.282
Board of Commissioners
Direksi
                                                                        22.233.733.599                                    23.456.454.348
Board of Directors
Jumlah Remunerasi
                                                                        49.317.686.430                                    39.942.681.630
Total Remunerations



Kebijakan dan Prosedur Nominasi                                                    Nomination Policy and Procedure

Berdasarkan Anggaran Dasar Perseroan, fungsi nominasi                              Based on the Company’s Articles of Association, the nomination
Dewan Komisaris dan Direksi dijalankan oleh RUPS. Usulan                           function for the Board of Commissioners and the Board of Directors
pengangkatan, pemberhentian dan/atau penggantian anggota                           is carried out by the GMS. Proposals for the appointment, dismissal
Direksi kepada RUPS perlu memperhatikan rekomendasi dari                           and/or replacement of members of the Board of Directors to the
Dewan Komisaris. Dalam hal anggota Dewan Komisaris memiliki                        GMS need to take into account recommendations from the Board
benturan kepentingan dengan usulan yang direkomendasikan,                          of Commissioners. In the event that a member of the Board of
benturan kepentingan tersebut wajib diungkapkan.                                   Commissioners has a conflict of interest with the recommended
                                                                                   proposal, the conflict of interest must be disclosed.


Perseroan sendiri telah memiliki program dalam mempersiapkan                       The Company has prepared programs to prepare prospective
calon-calon pemimpin melalui pengembangan kompetensi.                              leaders through competency development. Prospective leaders
Calon pemimpin Perseroan tidak hanya harus memiliki hard skill                     of the Company must not only have qualified hard skills but also
yang mumpuni tetapi juga harus memiliki kemampuan soft skill                       must have sufficient soft skills to occupy the position.
yang memadai untuk menduduki jabatan tersebut.




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       KEBERAGAMAN KOMPOSISI DEWAN KOMISARIS DAN DIREKSI
       DIVERSITY IN COMPOSITION OF BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS

       Komposisi Dewan Komisaris dan Direksi Perseroan yang menjabat                 The composition of the Company’s current Board of Commissioners
       saat ini telah memiliki keragaman keahlian, latar belakang,                   and Directors has a diversity of expertise, background, knowledge,
       pengetahuan, dan pengalaman industri yang merupakan faktor                    and industry experience which are important factors to ensure the
       penting untuk memastikan efektivitas pelaksanaan fungsi                       effectiveness of the implementation of the supervisory function
       pengawasan terhadap pengelolaan Perseroan yang diemban oleh                   of the Company’s management carried out by the Board of
       Dewan Komisaris dan juga pengelolaan Perseroan oleh Direksi.                  Commissioners and the Company’s management by the Board of
                                                                                     Directors.


                       Nama                    Jabatan        Usia (tahun)   Jenis Kelamin          Pendidikan                     Pengalaman
         No
                       Name                    Position        Age (year)       Gender               Education                      Experience
        Dewan Komisaris
        Board of Commissioners
          1    Bungaran Saragih          Komisaris Utama          78             Pria        Doktor di bidang           Berpengalaman lebih dari 45 tahun
                                         President                               Male        Philosophy on Economics    di industri perkebunan kelapa sawit
                                         Commissioner                                        Ph.D. degree in Economic   More than 45 years of experience in
                                                                                             Philosophy                 palm oil industry
          2    Hoesen                    Komisaris                57             Pria        Magister Manajemen         Berpengalaman lebih dari 30 tahun
                                         Independen                              Male        Keuangan                   di industri keuangan
                                         Independent                                         Master of Financial        More than 30 years of experience in
                                         Commissioner                                        Management                 financial industry
          3    Rimbun Situmorang Komisaris                        56             Pria        Sarjana Teknik             Berpengalaman lebih dari 30 tahun
                                 Commissioner                                    Male        Bachelor of Engineering    di industri perkebunan kelapa sawit
                                                                                                                        More than 30 years of experience in
                                                                                                                        palm oil industry
        Direksi
        Board of Directors
          1    Nasarudin bin Nasir       Direktur Utama           56             Pria        Sarjana Muda bidang        Berpengalaman lebih dari 20 tahun
                                         President Director                      Male        Planting Industry          di industri perkebunan kelapa sawit
                                                                                             Manajemen                  More than 20 years of experience in
                                                                                             Diploma in Planting        palm oil industry
                                                                                             Industry Management
          2    Jap Hartono               Direktur                 52             Pria        Magister Administrasi      Berpengalaman lebih dari 25 tahun
                                         Director                                Male        Master of Business         di bidang administrasi keuangan
                                                                                             Administration             More than 25 years of experience in
                                                                                                                        financial administration
          3    Muhammad Syafril          Direktur                 46             Pria        Sarjana Pertanian          Berpengalaman lebih dari 20 tahun
               Harahap                   Director                                Male        Bachelor in Agricultural   di industri perkebunan kelapa sawit
                                                                                                                        More than 20 years of experience in
                                                                                                                        palm oil industry




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                                                                                                                         TATA KELOLA PERUSAHAAN
                                                                                                                                       CORPORATE GOVERNANCE   05

HUBUNGAN AFILIASI
AFFILIATED RELATIONSHIP

Hubungan afiliasi adalah hubungan yang dimiliki Direksi, Dewan               Affiliated Relations shall mean relationship between the Board
komisaris dan Pemegang Saham Utama dan/atau Pengendali                       of Directors, Board of Commissioners and Main/Controlling
Perseroan dalam bentuk:                                                      Shareholders of the Company, either in the form of:


•      Hubungan keluarga karena perkawinan dan keturunan sampai              •   Family relationship due to marriage and descent to the second
       derajat kedua baik horizontal maupun vertikal.                            degree either horizontal or vertical.
•      Hubungan kepengurusan atau pengelolaan pada Pemegang                  •   Management or oversight relationship with Main/ Controlling
       Saham Utama/ Pengendali                                                   Shareholder.
•      Hubungan kepemilikan saham masing-masing anggota                      •   Share ownership by each member of the Board of Directors
       Direksi dan Dewan komisaris pada Pemegang Saham Utama                     and Board of Commissioners to the Main/ Controlling
       dan/atau Pengendali Perseroan sebagai badan hukum.                        Shareholders as legal entity.


Berikut adalah hubungan afiliasi Dewan Komisaris dan Direksi                 The following are the affiliations held by the Company’s Board of
Perseroan per 31 Desember 2023:                                              Commissioners and Directors as of December 31, 2023:


                                               Hubungan Keuangan Dengan                              Hubungan Keuangan Dengan
                                                 Financial Relations With                              Financial Relations With
                                                                      Pemegang Saham                                              Pemegang Saham
               Nama                Dewan Komisaris      Direksi         Pengendali       Dewan Komisaris       Direksi              Pengendali
               Name                     BOC              BOD             Controlling          BOC               BOD                  Controlling
                                                                        Shareholder                                                 Shareholder
                                    Ya      Tidak     Ya     Tidak     Ya        Tidak    Ya      Tidak     Ya       Tidak           Ya         Tidak
                                    Yes      No       Yes     No       Yes        No      Yes      No       Yes       No             Yes         No
    Dewan Komisaris
    Board of Commissioners
    Bungaran Saragih
    Komisaris Utama                           √                   √                √                 √                   √                          √
    President Commissioner
    Rimbun Situmorang
    Komisaris                                 √                   √                √                 √                   √                          √
    Commissioner
    Hoesen
    Komisaris Independen                      √                   √                √                 √                   √                          √
    Independent Commissioner


    Direksi | Board of Directors
    Nasarudin bin Nasir
    Direktur Utama                            √                   √                √                 √                   √                          √
    President Director
    Jap Hartono
    Direktur                                  √                   √                √                 √                   √                          √
    Director
    Muhammad Syafril Harahap
    Direktur                                  √                   √                √                 √                   √                          √
    Director




RANGKAP JABATAN DEWAN KOMISARIS DIREKSI                                      BOARD  OF   COMMISSIONERS                    AND          DIRECTORS
                                                                             CONCURRENT POSITIONS

Di tahun 2023, Perseroan telah memastikan anggota Dewan                      In 2023, the Company has ensured that members of the Board of
Komisaris dan Direksi memperhatikan dan tunduk pada ketentuan                Commissioners and Directors pay attention to and comply with
terkait rangkap jabatan Direksi sesuai dengan POJK No. 30/                   the provisions related to the concurrent positions of the Board
POJK.05/2014 tentang Tata Kelola Perusahaan yang Baik Bagi                   of Directors in accordance with POJK No. 30/POJK.05/2014
Perusahaan Pembiayaan dan perubahannya sebagaimana                           on Good Corporate Governance for Financing Companies and
tercantum pada POJK No. 29/POJK.05/2020, dan POJK No. 33/                    its amendments of POJK No. 29/POJK.05/2020, and POJK
POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau                 No. 33/POJK.04/2014 on the Board of Directors and Board of
Perusahaan Publik.                                                           Commissioners of Issuers or Public Companies.




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                                                                     Kepengurusan pada Perusahaan/Institusi Lain
                                                                     Management of Other Companies/ Institutions
                                              Sebagai Anggota Dewan Komisaris              Sebagai Anggota Direksi           Jabatan Lainnya
                                         As a Member of the Board of Commissioners   As a Member of the Board of Directors    Other Positions
        Dewan Komisaris
        Board of Commissioners
        Bungaran Saragih
        Komisaris Utama                                      v                                        v                             v
        President Commissioner
        Rimbun Situmorang
        Komisaris                                            v                                        v                             x
        Commissioner
        Hoesen
        Komisaris Independen                                 v                                        x                             x
        Independent Commissioner
        Direksi
        Board of Directors
        Nasarudin bin Nasir
        Direktur Utama                                      x                                         x                             x
        President Director
        Jap Hartono
        Direktur                                            x                                         x                             x
        Director
        Muhammad Syafril Harahap
        Direktur                                            x                                         x                             x
        Director


       Informasi detail mengenai rangkap jabatan anggota Dewan              Detail information regarding the concurrent positions of members
       Komisaris dan Direksi di instansi/perusahaan/lembaga/                of the Board of Commissioners and Directors in other agencies/
       organisasi lain sepanjang tahun 2023 dapat dilihat pada bab 3        companies/institutions/organizations in 2023 is presented in
       (tiga) mengenai profil masing-masing anggota Dewan Komisaris         chapter 3 (three) on the profile of each member of the Board of
       dan Direksi                                                          Commissioners and Directors.




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                                                                                                           TATA KELOLA PERUSAHAAN
                                                                                                                         CORPORATE GOVERNANCE   05

KOMITE-KOMITE PENUNJANG DEWAN KOMISARIS
SUPPORTING COMMITTEES OF BOARD OF COMMISSIONERS




Dewan Komisaris Perseroan dalam melaksanakan tugas                In carrying out its supervisory duties, the Company’s Board
pengawasannya dibantu oleh 1 (satu) Komite. Hal ini selaras       of Commissioners is assisted by 1 (one) Committees. This is
dengan Pasal 121 Undang-Undang No. 40 tahun 2007 tentang          in line with Article 121 of Law Number 40 of 2007 on Limited
Perseroan Terbatas, dan Pasal 2 Peraturan OJK No. 55/             Liability Companies, and Article 2 of FSA Regulation Number
POJK.04/2015 tentang Pembentukan dan Pedoman Pelaksanaan          55/POJK.04/2015 on the Establishment and Implementation
Kerja Komite Audit. Sedangkan Komite Nominasi dan Remunerasi,     Guidelines of Audit Committee. Meanwhile, in this year the
saat ini masih dalam tahap pembentukan.                           Nomination and Remuneration Committee Its currently still in the
                                                                  formation stage.


Komite-Komite yang berada di bawah Dewan Komisaris meliputi:      Committees under the BOC include:
a. Komite Audit.                                                  a. Audit Committee.



KOMITE AUDIT                                                      AUDIT COMMITTEE

Komite Audit dibentuk dan bertanggung jawab kepada Dewan          The Audit Committee was established and is responsible to the
komisaris untuk menerapkan pengendalian internal dan audit        Board of Commissioners to implement the internal control and
serta memberikan opini secara independen mengenai hal-hal         audit as well as providing an independent opinion to matters that
yang memerlukan perhatian Dewan komisaris sesuai dengan           require attention of the Board of Commissioners in accordance
prinsip-prinsip GCG dan peraturan perundang-undangan yang         with the principles of Good Corporate Governance and prevailing
berlaku.                                                          laws and regulation.


Komite Audit membantu Dewan Komisaris dalam melaksanakan          The Audit Committee assists the Board of Commissioners in
fungsi pengawasan, memastikan perusahaan dikelola dengan          carrying out supervisory functions, ensuring the company is
manajemen yang sehat, memberikan nasihat dalam pelaksanaan        managed with sound management, providing advice in the
pengendalian internal dan audit perusahaan, membuat laporan       implementation of internal control and company audits, making
secara tertulis atas setiap penugasan yang diberikan oleh Dewan   written reports on every assignment given by the Board of
Komisaris, serta membuat laporan pelaksanaan kegiatan Komite      Commissioners, and making reports on the implementation of
Audit dan tingkat pencapaian kinerjanya untuk diungkapkan         Audit Committee activities and the level of achievement of its
dalam Laporan Tahunan Perusahaan.                                 performance to be disclosed in the Company’s Annual Report.



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       DASAR HUKUM                                                                    LEGAL REFERENCES

       Komite Audit Perseroan dibentuk masing-masing melalui Surat                    The Company’s Audit Committee is established by the decree of
       keputusan Dewan komisaris No. 056/CT/DEKOM/X/013 tanggal                       the Board of Commissioners No. 056/CT/DEKOM/X/013 dated
       20 Desember 2013 dan telah sesuai dengan:                                      December 20, 2013 in accordance with:


       1.   Peraturan Otoritas jasa keuangan No. 55/POJK.04/2015                      1.   The Financial Services Authority (OJK) Regulation No. 55/
            tanggal 23 Desember 2015 tentang Pembentukan dan                               POJK.04/2015 dated 23 December 2015 on Establishment and
            Pedoman Pelaksanaan kerja komite Audit.                                        Implementation Guidelines of the Audit Committee.
       2.   Peraturan Bursa Efek Indonesia No. I-A                                    2.   Indonesia Stock Exchange Regulation No. I-A.
       3.   Anggaran Dasar Perseroan                                                  3.   The Company’s Articles of Association.



       KEANGGOTAAN KOMITE AUDIT                                                       AUDIT COMMITTEE MEMBERSHIP

       Komite Audit Perusahaan terdiri dari 3 (tiga) orang anggota yang               The Company’s Audit Committee composes 3 (three) members
       berasal dari Komisaris Independen (Ketua Komite), dan pihak                    consisting of Independent Commissioners (Chairman), and
       independen (anggota) yang diangkat dan diberhentikan oleh                      independent parties (members) who are appointed and dismissed
       Dewan Komisaris. Hal ini telah sesuai dengan Peraturan OJK                     by the Board of Commissioners. This is in accordance with OJK
       No. 55/POJK.04/2015 tentang Pembentukan dan Pedoman                            Regulation No. 55/POJK.04/2015 concerning the Establishment
       Pelaksanaan Kerja Komite Audit.                                                and Work Guidelines of Audit Committees.


       Berikut susunan Komite Audit Perseroan per tanggal 31 Desember                 The following is the composition of the Company’s Audit
       2023:                                                                          Committee as of December 31, 2023:


                   Nama                     Jabatan di Perusahaan        Jabatan Komite Audit              Dasar Pengangkatan              Periode
                   Name                     Position in the Company    Position in the Committee           Basis of Appointment             Period
                                                                                                   SK Dewan Komisaris No. 022/BOC-
                                         Komisaris Independen         Ketua                        SSMS/X/2022 tanggal 28 Oktober 2022
        Hoesen                                                                                                                            2022 – 2027
                                         Independent Commissioner     Chairman                     BOC Decree No. 022/BOC-
                                                                                                   SSMS/X/2022, dated October 28, 2022
                                                                                                   SK Dewan Komisaris No. 033/SSMS-JKT/
                                         Pihak Independen             Anggota                      VI/2023 tanggal 19 Juni 2023
        Arif M. Prawirawinata                                                                                                             2023 – 2023
                                         Independent Party            Member                       BOC Decree No. 033/SSMS-JKT/VI/2023
                                                                                                   dated June 19, 2023
                                                                                                   SK Dewan Komisaris No. 002/BOC-
                                         Pihak Independen             Anggota                      SSMS/X/2022 tanggal 28 Oktober 2022
        Arini Imamawati                                                                                                                   2022 – 2027
                                         Independent Party            Member                       BOC Decree No. 002/BOC-
                                                                                                   SSMS/X/2022 dated October 28, 2022




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                                                                                                                               TATA KELOLA PERUSAHAAN
                                                                                                                                             CORPORATE GOVERNANCE   05

PROFIL ANGGOTA KOMITE AUDIT                                                   AUDIT COMMITTEE MEMBERS PROFILES




                                                                                                     HOESEN
                                                                                                         KETUA KOMITE AUDIT
                                                                                                      Chairman of Audit Committee


Profil Hoesen sebagai Ketua Komite Audit sekaligus Komisaris Independen dapat dilihat pada Profil Dewan Komisaris Perusahaan pada Bab Profil
Perusahaan dalam Laporan Tahunan ini.

Hoesen’s profile as Chairman of the Audit Committee as well as Independent Commissioner is presented in the Profile of the Company's Board of
Commissioners of the Company Profile Chapter in this Annual Report.




                                                                                                        ARIF M.
                                                                                           PRAWIRAWINATA
                                                                                                        ANGGOTA KOMITE AUDIT
                                                                                                       Member of Audit Committee


Usia                                                                        Age
58 tahun                                                                    58 years old
Kewarganegaraan                                                             Citizenship
Indonesia                                                                   Indonesian
Dasar Hukum Penunjukan                                                      Legal Basis of Appointment
SK Dewan Komisaris No. 033/SSMS-JKT/VI/2023 tanggal 19 Juni 2023            BOC Decree No. 033/SSMS-JKT/VI/2023 dated June 19, 2023
Riwayat Pendidikan                                                          Educational Background
• SE,Ak.,MM                                                                 • SE,Ak.,MM
• Magister Manajemen, Universitas Trisakti, 2005,                           • Master of Management, Trisakti University, 2005,
• Sarjana Ekonomi, jurusan Akuntansi Fakultas Ekonomi Universitas           • Bachelor of Economics, majoring in Accounting, Faculty of Economics,
  Indonesia, 1992.                                                            University of Indonesia, 1992.
Rangkap Jabatan                                                             Concurrent Positions
- Anggota Komite Audit:                                                     - Audit Committee Members:
  • PT Kliring Penjaminan Efek Indonesia (mid Agustus 2023 - sekarang);       • PT Kliring Penjaminan Efek Indonesia (mid August 2023 - present);
  • PT Mirae Asset Sekuritas Indonesia (awal Desember 2023 - sekarang);       • PT Mirae Asset Sekuritas Indonesia (early December 2023 - present);
  • PT Satu Visi Putra Tbk (mid November 2023 - sekarang).                    • PT Satu Visi Putra Tbk (mid November 2023 - present).
- Pengajar part-time The Indonesia Capital Market Institute (TICMI)         - Part-time lecturer at The Indonesia Capital Market Institute (TICMI) (July
                                                                              2022 - present)


Pengalaman Kerja                                                            Work Experience
• PT Bursa Efek Indonesia, mengawali karirnya sebagai staf kemudian         • PT Bursa Efek Indonesia started his career as a staff then as Head of Unit,
  sebagai Kepala Unit, Kepala Divisi kemudian terakhir sebagai Executive      Head of Division, then lastly as Executive Advisor (1997 - 2022)
  Advisor (1997 - 2022)
• PT Prizaco Prakarsa, sebagai Assistant to Business Development Director   • PT Prizaco Prakarsa, as Assistant to Business Development Director (1995
  (1995 - 1997)                                                               - 1997)
• KAP Drs. Gatot Permadi Joewono, dengan posisi terakhir sebagai Manajer    • KAP Drs. Gatot Permadi Joewono, with his last position as Audit Manager
  Audit (1990 - 1995)                                                         (1990 - 1995)
Sertifikasi                                                                 Certification
Chartered Accountant (CA), Qualified Internal Auditor (QIA)                 Chartered Accountant (CA), Qualified Internal Auditor (QIA)




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                                                                                                            ARINI
                                                                                                         IMAMAWATI
                                                                                                                   ANGGOTA KOMITE AUDIT
                                                                                                                  Member of Audit Committee


        Usia                                                                           Age
        44 tahun                                                                       44 years old
        Kewarganegaraan                                                                Citizenship
        Indonesia                                                                      Indonesian
        Dasar Hukum Penunjukan                                                         Legal Basis of Appointment
        SK Dewan Komisaris No. 002/BOC-SSMS/X/2022 tanggal 28 Oktober 2022             Board of Commissioners Decree No. 002/BOC-SSMS/X/2022 dated
                                                                                       October 28, 2022
        Riwayat Pendidikan                                                             Educational Background
        • Sarjana Akuntansi, Fakultas Ekonomi, Universitas Trisakti, Jakarta (2000)    • Bachelor of Accounting, in Faculty of Economics, Trisakti University (2000)
        • Magister Manajemen in Business Management, Universitas Prasetya              • Master of Management in Business Management, Unversity of Prasetya
          Mulya (2012)                                                                   Mulya (2012)
        Rangkap Jabatan                                                                Concurrent Positions
        • Komisaris Independen PT Wicaksana Overseas International Tbk. (2023 –        • Independent Commissioner of PT Wicaksana Overseas International Tbk.
          sekarang)                                                                      (2023 – present)
        • Anggota Komite Audit dan Komite Risiko & Tata Kelola PT Mandiri              • Member of Audit Committee and Risk & Governance Committee of PT
          Sekuritas (2023 – sekarang)                                                    Mandiri Sekuritas (2023 – present)
        • Anggota Komite Audit PT Kliring Penjaminan Efek Indonesia ( – sekarang)      • Member of Audit Committee of PT Kliring Penjaminan Efek Indonesia ( –
                                                                                         present)
        • Anggota Komite Audit PT ITSec Asia Tbk (2023 – sekarang)                     • Member of Audit Committee of PT ITSec Asia Tbk (2023 – present)
        Pengalaman Kerja                                                               Work Experience
        • Komisaris Independen PT Wicaksana Overseas International Tbk. (7             • Independent Commissioner of PT Wicaksana Overseas International Tbk.
          Desember 2023 – sekarang)                                                      (7 December 2023 – present)
        • Anggota Komite Audit dan Komite Risiko & Tata Kelola PT Mandiri              • Member of Audit Committee and Risk & Governance Committee of PT
          Sekuritas (1 Agustus 2023 – sekarang)                                          Mandiri Sekuritas (August 1, 2023 – present)
        • Anggota Komite Audit PT Kliring Penjaminan Efek Indonesia (30 Juli 2023      • Member of Audit Committee of PT Kliring Penjaminan Efek Indonesia (30
          – sekarang)                                                                    July 2023 – present)
        • Anggota Komite Audit PT ITSec Asia Tbk (9 Maret 2023 – sekarang)             • Member of Audit Committee of PT ITSec Asia Tbk (9 March 2023 –
                                                                                         present)
        • Anggota Komite Audit PT Bank ICBC Indonesia (7 Juli 2021 – Saat ini)         • Member of Audit Committee of PT Bank ICBC Indonesia (July 7, 2021 -
                                                                                         Present)
        • Financial Controller PT Chandra Sakti Utama Leasing (15 Maret 2021 - 30      • Financial Controller of PT Chandra Sakti Utama Leasing (March 15, 2021-
          Juni 2021)                                                                     June 30, 2021)
        • Head of Finance PT Danareksa (Persero) (15 Januari 2018 - 11 Februari        • Head of FInance PT Danareksa (Persero) (January 15, 2018 - February 11,
          2021)                                                                          2021)
        • Head of Internal Audit PT Danareksa (Persero) (1 Oktober 2014 - 14 Januari   • Head of Internal Audit PT Danareksa (Persero) (October 1, 2014 - January
          2018)                                                                          14, 2018)
        • Anggota Komite Audit PT Dahana (Persero) (1 Juli 2014 – 30 September         • Member of Audit Committee of PT Dahana (Persero) (July 1, 2014 -
          2014)                                                                          September 30, 2014)
        • Anggota Komite Audit PT Danareksa (Persero) (3 Agustus 2009 - 3              • Member of Audit Committee of PT Danareksa (Persero) (August 3, 2009 -
          Agustus 2014)                                                                  August 3, 2014)
        • Anggota Komite Audit PT Bank ICB Bumiputera Tbk (September 2010 -            • Member of Audit Committee of PT Bank ICB Bumiputera Tbk (September
          Maret 2013)                                                                    2010 - March 2013)
        • Audit Manager Assurance and Advisory Business Services Purwantono,           • Audit Manager Assurance and Advisory Business Services Purwantono,
          Sarwoko & Sandjaja (9 April 2007 - 30 Juli 2009)                               Sarwoko & Sandjaja (April 9, 2007 – July 30, 2009)
        • Accounting & Administration Manager PT Flowserve (Indonesia) (8              • Accounting & Administration Manager PT Flowserve (Indonesia) (August
          Agustus 2005 - 31 Desember 2006)                                               8, 2005-December 31, 2006)
        • Senior Auditor Business Advisory Service Haryanto Sahari & Rekan (1          • Senior Auditor Business Advisory Service: Haryanto Sahari &; Partners
          September 2000 - 8 Agustus 2005)                                               (September 1, 2000 – August 8, 2005)
        Sertifikasi                                                                    Certification
        Certification in Audit Committee Practitioner (CACP)                           Certification in Audit Committee Practitioner (CACP)




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                                                                                                                                     TATA KELOLA PERUSAHAAN
                                                                                                                                                   CORPORATE GOVERNANCE   05

INDEPENDENSI KOMITE AUDIT                                                               STATEMENT OF INDEPENDENCE OF AUDIT COMMITTEE

Untuk dapat menjaga independensi setiap anggota Komite,                                 To maintain the independence of each member of the Committee,
masing-masing anggota Komite Penunjang Dewan Komisaris                                  each member of the Supporting Committee of the Board of
setiap tahunnya memberikan pernyataan independensi. Berikut                             Commissioners annually provides a statement of independence.
pernyataan Independensi Komite Audit berdasarkan Peraturan                              The following is a statement of Audit Committee Independence
OJK No. 55/POJK.04/2015 tentang Pembentukan dan Pedoman                                 based on OJK Regulation No. 55/POJK.04/2015 concerning the
Pelaksanaan Kerja Komite Audit.                                                         Establishment and Work Guidelines of the Audit Committee.


                            Pernyataan Independensi
                                                                                                    Hoesen        Arif M. Prawirawinata      Arini Imamawati

Bukan merupakan orang dalam Kantor Akuntan Publik, Kantor Konsultan Hukum,
Kantor Jasa Penilai Publik atau pihak lain yang memberi jasa asuransi, jasa non
asuransi, jasa penilai dan/atau jasa konsultasi lain kepada Perseroan dalam
waktu 6 (enam) bulan terakhir;
                                                                                                        √                   √                          √
Not a person in the Public Accountant Firm, Legal Consultant Firm, Public
Appraisal Service Office or other parties who provide insurance services, non-
insurance services, appraisal services and/or other consulting services to the
Company within the last 6 (six) months;
Bukan merupakan orang yang bekerja atau mempunyai wewenang dan tanggung
jawab untuk merencanakan, memimpin, mengendalikan, atau mengawasi
kegiatan Perseroan dalam waktu 6 (enam) bulan terakhir (kecuali Komisaris
Independen);
                                                                                                        √                   √                          √

Not a person who works or has the authority and responsibility to plan, lead,
control, or supervise the Company’s activities within the last 6 (six) months
(except for Independent Commissioners);
Tidak mempunyai saham langsung maupun tidak langsung di Perseroan;
                                                                                                        √                   √                          √
Does not have direct or indirect shares in the Company
Keluarga tidak mempunyai saham langsung maupun tidak langsung di
Perseroan;
                                                                                                        √                   √                          √

The family has neither direct nor indirect shares in the Company;
Tidak mempunyai hubungan Afiliasi dengan anggota Dewan Komisaris, anggota
Direksi, atau Pemegang Saham Utama Perseroan;
                                                                                                        √                   √                          √
Has no affiliation with members of the Board of Commissioners, members of the
Board of Directors, or Major Shareholders of the Company;
Tidak mempunyai hubungan usaha baik langsung maupun tidak langsung yang
berkaitan dengan kegiatan usaha Perseroan;
                                                                                                        √                   √                          √
Does not have a business relationship either directly or indirectly related to the
Company's business activities;
Tidak menjabat sebagai pengurus partai politik dan/atau calon/anggota
legislatif dan/atau merupakan calon atau menjabat sebagai kepala/wakil kepala
pemerintahan daerah;
                                                                                                        √                   √                          √
Does not serve as an administrator of a political party and/or candidate/member
of the legislature and/or is a candidate or serves as the head/deputy head of
local government;


                                                         Keterangan: √= Ya |x=Tidak | Description: √= Yes |x=No




PEDOMAN KERJA KOMITE AUDIT                                                              AUDIT COMMITTEE CHARTER

Agar Komite Audit dapat berperan secara efisien dan efektif, maka                       To carry out an efficient and effective role, the Audit Committee
disusun Pedoman Kerja Komite Audit yang ditandatangani oleh                             Charter was signed by the Board of Commissioners on 2019 and
Dewan Komisaris pada tahun 2019 serta telah dipublikasikan di                           have been published on the Company’s website. The Charter
situs Perusahaan. Pedoman Kerja tersebut mencakup dasar dan                             include basis and objectives for the establishment of the Audit
tujuan pembentukan Komite Audit, Keanggotaan Komite Audit,                              Committee, Membership of the Audit Committee, Duties and
Tugas dan Wewenang Komite Audit, rapat dan pelaporan Komite                             Authorities of the Audit Committee, meeting and reporting of
Audit, dan Penutup.                                                                     Audit Committee, and Closing.



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       TUGAS DAN TANGGUNG JAWAB KOMITE AUDIT                                DUTIES AND RESPONSIBILITIES OF AUDIT COMMITTEE

       Komite Audit berfungsi sebagai perpanjangan tangan Dewan             The Audit Committee functions as an extension of the Board of
       Komisaris dalam menjalankan fungsi pengawasan dan/atau               Commissioners in carrying out supervisory and/or monitoring
       pemantauan. Berdasarkan piagam Komite Audit, tugas dan               functions. Based on the Audit Committee charter, the duties and
       tanggung jawab Komite Audit Perusahaan adalah sebagai berikut:       responsibilities of the Company’s Audit Committee are as follows:



       1.   Komite Audit menerima rangkuman laporan yang dibuat dan         1.   The Audit Committee receives a summary of reports made
            diberikan oleh Satuan Kerja Audit Internal kepada manajemen          and provided by the Internal Audit Work Unit to management
            serta tanggap manajemen terhadap rangkuman laporan                   and management responses to the summary of the report.
            tersebut.
       2.   Komite Audit mengadakan pertemuan secara rutin dengan           2.   The Audit Committee meets regularly with internal audits to
            audit internal untuk membahas temuan-temuan audit internal.          discuss internal audit findings.
       3.   Setiap awal tahun Komite Audit mereview dan memberi             3.   Each of the beginning of the year the Audit Committee reviews
            masukan atas Program Kerja Pemeriksaan Tahunan yang                  and provides inputs to the Annual Audit Work Program
            disusun oleh Satuan Kerja Audit Internal.                            prepared by the Internal Audit Unit.
       4.   Mereview atas aktivitas, struktur organisasi dan kualifikasi    4.   Reviewing the activities, organizational structure and
            personil audit internal untuk memastikan bahwa audit internal        qualifications of internal audit personnel to ensure that internal
            dapat bekerja secara independen dan obyektif sesuai dengan           audits can work independently and objectively in accordance
            standar auditing yang berlaku.                                       with applicable auditing standards.
       5.   Melakukan penelaahan atas efektivitas pelaksanaan fungsi        5.   Reviewing the effectiveness of the implementation of the
            audit internal.                                                      internal audit function.



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6. Penelaahan dan pemberian saran kepada Dewan Komisaris              6. Review and advise the Board of Commissioners regarding the
    terkait dengan adanya aksi korporasi Perseroan, terutama              actions of the Corporation, particularly those with potential
    yang memiliki potensi benturan kepentingan.                           conflict of interest.
7. Komite Audit memberikan rekomendasi kepada Dewan                   7. The Audit Committee recommends to the Board of
    Komisaris mengenai pemilihan dan pemberhentian auditor                Commissioners regarding the selection and dismissal of
    eksternal.                                                            external auditors.
8. Penelaahan rencana audit termasuk ruang lingkup, prosedur          8. Review the audit plan including the scope, procedures and
    dan ketentuan-ketentuan audit.                                        provisions of the audit.
9. Pemantauan pembahasan temuan audit oleh auditor eksternal          9. Monitoring audit findings by external auditors with
    dengan manajemen. Jika terdapat perbedaan pendapat                    management. If there is a difference of opinion between the
    antara auditor eksternal dan manajemen atas jasa yang                 external auditor and management of the service rendered, the
    diberikan, Komite Audit memberikan pendapat independen.               Audit Committee provides and independent opinion.
10. Penelaahan atas efektivitas pelaksanaan fungsi Audit              10. Reviewing the effectiveness of execution of External Audit
    Eksternal.                                                            Function.
11. Dalam proses seleksi auditor independent, Komite Audit            11. In the process of independent auditor selection, the Audit
    mengacu pada ketentuan-ketentuan mengenai legalitas,                  Committee refers to the provisions concerning the legality,
    kompetensi, dan independensi akuntan publik yang berlaku              competence, and independence of public accountants
    di Indonesia.                                                         applicable in Indonesia.
12. Menelaah prinsip dan praktek akuntansi dan pelaporan yang         12. Reviewing the principles and practices of accounting and
    diterapkan Perusahaan dalam menyajikan laporan keuangan               reporting applied by the company in presenting the financial
    untuk memastikan pemenuhan Standar Akuntansi Keuangan                 statements to ensure Financial Accounting Standard
    (PSAK) yang berlaku.                                                  Guidelines (PSAK).
13. Menelaah laporan keuangan yang telah diaudit untuk dilaporkan     13. Reviewing audited financial statements to be reported to
    kepada Bursa Efek Indonesia (BEI) dan/atau Otoritas Jasa              the Indonesia Stock Exchange (BEI) or the Financial Services
    Keuangan (OJK) atau institusi lainnya yang berwenang secara           Authority (OJK) or other institutions regarding accounting and
    hukum mengenai prinsip-prinsip dan praktek akuntansi dan audit,       auditing principles and practices, the adequancy of internal
    kecukupan dari pengendalian internal yang secara signifikan           controls that can significantly affect the financial statements of
    dapat berpengaruh pada laporan keuangan perusahaan dan                the Company and other issues under applicable regulations.
    masalah-masalah lainnya sesuai peraturan yang berlaku.
14. Pembahasan dengan Dewan Komisaris tentang informasi               14. Discuss with the Board of Commissioners regarding Important
    penting atau material untuk diungkapkan kepada publik,                or material information to be disclosed to the public, as
    sebagaimana yang ditugaskan oleh Dewan Komisaris.                     assigned by the Board of Commissioners.
15. Melakukan review terhadap Piagam Komite Audit sesuai              15. Conduct a review of the Audit Charter as required and propose
    kebutuhan dan mengusulkan perubahannya kepada Dewan                   amendments to the Board of Commissioners for approval.
    Komisaris untuk mendapatkan persetujuan.
16. Melakukan evaluasi terhadap kinerja Komite Audit dan para         16. Periodically evaluate the performance of the Audit Committee
    anggotanya secara berkala, dan                                        and its members and
17. Menjaga kerahasiaan dokumen, data dan informasi                   17. Maintain confidentiality of documents, data and company
    perusahaan.                                                           information.


Wewenang Komite Audit                                                 Authorities of the Audit Committee

Komite Audit memiliki kewenangan sebagai berikut:                     The Audit Committee has the following powers:


1.   Berhak mendapat dokumen, data, dan informasi perusahaan          1.   Accessing company documents, data and information about
     yang diperlukan berkaitan dengan pelaksanaan tugasnya.                the employees, funds, assets and necessary corporate
                                                                           resources related to the performance of their duties.
2.   Berkomunikasi langsung dengan karyawan termasuk Direksi          2.   Communicate directly with employees including the Board of
     dan pihak yang menjalankan fungsi audit internal, manajemen           Directors and those exercising internal audit, risk management
     risiko dan akuntan terkait tugas dan tanggung jawab Komite            and accounting functions related to the Audit Committee’s
     Audit.                                                                duties and responsibilities.
3.   Melibatkan pihak independent di luar anggota Komite Audit        3.   Involve independent parties outside the members of the Audit
     yang diperlukan untuk membantu pelaksanaan tugasnya (jika             Committee who are required to assist in the execution of their
     diperlukan)                                                           duties (if necessary)
4.   Melakukan kewenangan lain yang ditugaskan oleh Dewan             4.   Carry out other authorities commissioned by the Board of
     Komisaris, dan                                                        Commissioners, and
5.   Dalam melakukan kewenangannya, Komite Audit bekerja              5.   In exercising its authority the Audit Committee cooperates
     sama dengan unit-unit lain yang berkaitan dengan tugasnya.            with other units relating to its duties.




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       Masa Jabatan                                                        Term of Office

       a. Masa tugas anggota Komite Audit yang merupakan angora            a. The period of duty of the members of the Audit Committee
          Dewan Komisaris adalah sama dengan masa penunjukkannya              which is a member of the Board of Commissioners is equal to
          sebagai Komisaris yang ditentukan oleh Rapat Umum                   the period of his appointment as a commissioner determined
          Pemegang Saham.                                                     by the General Meeting of Shareholders.
       b. Anggota Komite Audit yang merupakan anggota Dewan                b. A member of the Audit Committee who is a member of the
          Komisaris berhenti dengan sendirinya apabila masa                   Board of Commissioners shall cease on its own if its term of
          jabatannya sebagai Anggota Dewan Komisaris berakhir, dan            office as a member of the Board of Commissioners ends, and
       c. Apabila anggota Dewan Komisaris yang menjabat sebagai            c. If the member of the Board of Commissioners who is the
          Ketua Komite Audit berhenti dari jabatannya sebagai anggota         Chairman of the Audit Committee resigns from his position
          Dewan Komisaris maka jabatan Ketua Komite Audit wajib               as a member of the Board of Commissioners, the position of
          diganti oleh anggota Dewan Komisaris Independen lainnya.            the Chairman of the Audit Committee must be replaced by
                                                                              another member of the Board of Independent Commissioners.



       RAPAT KOMITE AUDIT                                                  AUDIT COMMITTEE MEETINGS

       Ketentuan pelaksanaan Rapat Komite Audit tercantum dalam            The provisions for the implementation of the Audit Committee
       Piagam/Charter Komite Audit. Komite Audit mengadakan rapat          Meeting are stated in the Audit Committee Charter. The Audit
       berkala sekurang-kurangnya 1 (satu) kali dalam 3 (tiga) bulan.      Committee holds periodic meetings at least once in 3 (three)
       Rapat Komite Audit dapat diselenggarakan apabila dihadiri oleh      months. The Audit Committee meetings can be held if attended
       lebih dari 1/2 (satu per dua) jumlah anggota dan dipimpin oleh      by more than 1/2 (one half) of total members and chaired by
       Ketua Komite Audit atau anggota senior Komite Audit apabila         the Chairman or senior members of the Audit Committee if the
       Ketua berhalangan hadir. Rapat dapat diadakan secara fisik dan      Chairman is unable to attend. Meetings can be held physically
       non fisik melalui teleconference, video conference atau fasilitas   and non-physically through teleconference, video conference
       media elektronik lainnya. Jika dipandang perlu, Komite Audit        or other electronic media facilities. If deemed necessary, the
       dapat mengundang pihak manajemen yang terkait dengan materi         Audit Committee may invite management related to the meeting
       rapat untuk hadir dalam rapat Komite Audit.                         material to attend the Audit Committee meeting.


       Sepanjang tahun 2023 telah dilaksanakan 14 (empat belas) kali       Throughout 2023, 14 (Fourteen) times Audit Committee meetings
       rapat Komite Audit. Adapun kehadiran masing-masing anggota          have been held. The attendance of each member of the Audit
       Komite Audit dalam Rapat Komite Audit selama tahun 2023             Committee in the Audit Committee Meeting during 2023 is as
       sebagai berikut:                                                    follows:


        Rapat Komite Audit
        Audit Committee Meeting

                                 Nama                       Jabatan             Jumlah Rapat      Jumlah Kehadiran          (%) Kehadiran
                                 Name                       Position            Total Meetings     Total Attendance        (%) Attendance
                                                            Ketua
        Hoesen                                                                       14                   13                     93
                                                           Chairman
                                                            Anggota
        Arif M. Prawirawinata                                                         7                   7                     100
                                                            Member
                                                            Anggota
        Arini Imamawati                                                              14                   14                    100
                                                            Member




       REMUNERASI KOMITE AUDIT                                             AUDIT COMMITTEE REMUNERATION

       Jumlah remunerasi Komite Audit untuk anggota independen             Total remuneration of Audit Committee for independent member
       dalam 1 (satu) tahun yang diterima secara tunai di tahun 2023       in 1 (one) year which is received in cash in 2023 is Rp273.978.506.
       adalah sebesar Rp273.978.506.




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PENGEMBANGAN KOMPETENSI KOMITE AUDIT                                               AUDIT COMMITTEE COMPETENCY DEVELOPMENT

Untuk peningkatan kompetensi anggota Komite Audit, di tahun                        To improve the competence of Audit Committee members, in
2023 Perusahaan mengikutsertakan anggota Komite Audit ke                           2023 the Company organized Audit Committee members in
berbagai program pendidikan dan/atau pelatihan yang terlihat                       various education and/or training programs as describe in the
dalam tabel berikut:                                                               following table:



      Anggota Komite Audit                         Pelatihan/Pendidikan                                         Tanggal                   Penyelenggara
     Audit Committee Member                         Training/Education                                            Date                     Organization
                              Pelatihan Persiapan Ujian Wakil Perantara Pedagang Efek
                                                                                                   18 Agustus - 8 September 2023
                              (WPPE)                                                                                                 The Indonesia Capital
                                                                                                   August 18 – September 8, 2023
                              Exam Preparation Training for Wakil Perantara Pedagang Efek                                            Market Institute (TICMI)
 Arif M. Prawirawinata        (WPPE)
                                                                                                   7 Desember 2023
                              Webinar "Enhancing ESG Through Best Practices in Accounting                                            OJK Institute
                                                                                                   December 7, 2023
                              Tax Regulation Update                                                24 November 2023
                                                                                                                                     Ernst & Young (EY)
                                                                                                   November 24, 2023
                              Penerapan GRC terintegrasi untuk tata kelola dan
                                                                                                   24 Januari 2023                   Institute of Internal
                              meningkatkan pengelolaan risiko yang lebih baik
                                                                                                   January 24, 2023                  Auditors Indonesia
                              Implementing of GRC integrated to improve better governance
                              and risk management.
                              The Role of GRC in Supporting Financial Sector Performance           23 Februari 2023
                                                                                                                                     OJK Institut
                                                                                                   February 23, 2023
                              Sosialisasi Penyelenggaraan Annual Report Award                      12 April 2023                     Ikatan Akuntan
                              Dissemination of Annual Reporrt Award                                April 12, 2023                    Indonesia (IAI) & KNKG
                              Sustainability Assurance - Delivering Value to your sustainability   13 April 2023                     Deloitte
                              report                                                               April 13, 2023
                              Mengenal Lebih Jauh Pengaturan UU P2SK Dalam Rangka
                                                                                                   20 Juli 2023
                              Penguatan Sektor Pasar Modal                                                                           OJK Institute
                                                                                                   July 20, 2023
 Arini Imamawati              Get to Know the Regulations of P2SK Law in order to
                              strengthening the Capital Market Sector
                              Understanding the new ISSB Standards and how it will impact          4 Agustus 2023
                                                                                                                                     Deloitte
                              your Company's ESG reporting                                         August 4, 2023
                              Webinar Enhancing Financial Performance through Data                 31 Agustus 2023
                                                                                                                                     OJK Institute
                              Analytics                                                            August 31, 2023
                              Konferensi Nasional 2023: Mengawal Keberlanjutan dan
                              Pertumbuhan Perseroan Melalui Pengawasan serta
                                                                                                                                     Ikatan Komite Audit
                              Pengendalian Risiko                                                  19 Oktober 2023
                                                                                                                                     Indonesia
                              2023 National Conference: Monitoring the Company’s                   October 19, 2023
                              Sustainability and Growth through Risk Control and
                              Supervision.
                              Tax Regulation Update                                                24 November 2023
                                                                                                                                     Ernst & Young (EY)
                                                                                                   November 24, 2023




PELAKSANAAN TUGAS KOMITE AUDIT                                                     IMPLEMENTATION OF AUDIT COMMITTEE DUTIES

Selama tahun 2023, Komite Audit telah melaksanakan tugas dan                       During 2023, the Audit Committee has carried out its duties and
tanggung jawabnya sesuai Pedoman Kerja Komite Audit serta                          responsibilities in accordance with the Audit Committee Charter
Program Kerja Komite Audit Tahun 2023. Realisasi pelaksanaan                       and Work Program for 2023. Realization of the implementation of
tugas Komite Audit di tahun 2023, diantaranya:                                     the Audit Committee’s duties in 2023, is as follows:


1.    Menyampaikan laporan hasil penelaahan atas temuan-                           1.   Submit a review report for internal findings to the Board of
      temuan dari pihak internal kepada Dewan Komisaris                                 Commissioners
2.    Menyampaikan laporan hasil penelaahan atas Laporan                           2.   Submit a review report for the Company’s Financial Statement
      Keuangan Perseroan
3.    Memberikan rekomendasi terkait penunjukkan Akuntan Publik                    3.   Provide a recommendation regarding the appointment of
      (AP) dan Kantor Akuntan Publik (KAP)                                              Public Accountant (AP) and Public Accounting Firm (KAP)
4.    Melakukan rapat koordinasi dengan unit-unit terkait.                         4.   Conduct a coordination meeting with the relevant units.




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       SEKRETARIS PERUSAHAAN
       CORPORATE SECRETARY




       Sekretaris Perusahaan bertanggung jawab langsung kepada                           The Corporate Secretary is directly responsible to the Board of
       Direksi serta diangkat dan diberhentikan berdasarkan keputusan                    Directors and is appointed and dismissed based on the Decree
       Direksi. Sekretaris Perusahaan bertanggung jawab memfasilitasi                    of the Board of Directors. The Corporate Secretary is responsible
       komunikasi antara Direksi, Dewan komisaris, para pemegang                         in facilitating communication between the Board of Directors, the
       saham, otoritas pasar modal dan para pemangku kepentingan                         Board of Commissioners, shareholders, capital market authorities
       lainnya agar terjalin dengan lancar, efektif, transparan dan                      and other stakeholders in order to be efficient, effective,
       komprehensif dengan tetap memperhatikan prinsip standar etika,                    transparent and comprehensive by taking into account the ethical
       prinsip GCG, dan nilai-nilai yang dipegang teguh oleh Perseroan.                  standard, GCG principles and values held by the Company.



       DASAR HUKUM                                                                       LEGAL REFERENCES

       Dalam pemenuhan Peraturan Pencatatan Bursa Efek Indonesia                         In compliance with Indonesia Stock Exchange Regulation No.
       No. I-A serta Peraturan OJK No. 35/POJK.04/2014, perusahaan                       I-A and OJK Regulation No. 35/POJK.04/2014, a public company
       publik wajib memiliki fungsi sekretaris perusahaan yang berperan                  is required to have a corporate secretary function that serves
       sebagai penghubung antara organ perusahaan dengan pihak                           as a liaison between the company’s organ with the external
       eksternal termasuk lembaga pemerintah dan non-pemerintah,                         parties including government and non-government institutions,
       pemegang saham, serta pelaku pasar modal lainnya.                                 shareholders, as well as other capital market communities.



       PROFIL SEKRETARIS PERUSAHAAN                                                      CORPORATE SECRETARY PROFILE

       Perseroan mengangkat Jap Hartono sebagai         Sekretaris                       The Company has appointed Jap Hartono as Corporate Secretary
       Perusahaan yang secara hukum juga dilaksanakan berdasarkan                        based on the Decree of the Board of Directors No. 048/CORSEC-
       Surat    keputusan Direksi No. 048/CORSEC-SSMS/VI/2023                            SSMS/VI/2023 dated June 21, 2023.
       tanggal 21 Juni 2023.




                                                                                                               JAP
                                                                                                             HARTONO
                                                                                                                  SEKRETARIS PERUSAHAAN
                                                                                                                     Corporate Secretary


        Profil Jap Hartono sebagai Sekretaris Perusahaan sekaligus Direksi dapat dilihat pada Profil Direksi Perusahaan pada Bab Profil Perusahaan dalam Laporan
        Tahunan ini.

        Jap Hartono’s profile as Corporate Secreatry as well as Director of the Company is presented in the Profile of the Company's Board of Directors of the
        Company Profile Chapter in this Annual Report




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STRUKTUR ORGANISASI DEPARTEMEN SEKRETARIS                               CORPORATE SECRETARY ORGANIZATIONAL STRUCTURE
PERUSAHAAN

Berdasarkan Keputusan Direksi No.F-HRDGA.GN001 tanggal 27               Based on Board of Directors Decree No.F-HRDGA.GN001 dated
Desember 2023 2023 2023 tentang Susunan Organisasi Perusahaan,          December 27, 2023 2023 2023 concerning the Company’s
Divisi Sekretaris Perusahaan bertanggung jawab langsung kepada          Organizational Structure, the Corporate Secretary Division reports
Direktur Utama, dengan struktur sebagai berikut:                        directly to the President Director, with the following structure:


                                         Struktur Organisasi Sekretaris Perusahaan
                                        Corporate Secretary Organizational Structure




                                                       Sekretaris Perusahaan
                                                        Corporate Secretary




                    Corporate Communication                Investor Ralations                     Corporate Legal
                    Corporate Communication                 Investor Ralations                    Corporate Legal




TUGAS   DAN        TANGGUNG         JAWAB       SEKRETARIS              CORPORATE SECRETARY DUTIES & RESPONSIBILITIES
PERUSAHAAN

Tugas dan tanggung jawab Sekretaris Perusahaan meliputi:                The responsibilities of the Corporate Secretary include:


1. Berperan sebagai koordinator dalam merencanakan dan                  1.   Serves as a coordinator in planning and evaluating all
   melakukan evaluasi atas semua aspek yang berkaitan dengan                 aspects related to the relationship between Company and
   hubungan antara Perseroan dan para Pemangku Kepentingan                   Stakeholders so that understanding, harmonious relations
   sehingga dapat tercipta pemahaman, hubungan yang                          and community support for Company can be created;
   harmonis, serta dukungan masyarakat terhadap Perseroan;
2. Berperan sebagai penghubung antara perusahaan, khususnya             2.   Serves as a liaison between company, especially in building
   dalam membangun komunikasi dengan pihak-pihak                             communication with external parties, so as to minimize
   eksternal, sehingga mampu meminimalisasikan kerancuan                     confusion or ambiguity that can affect the performance and
   atau ketidakjelasan yang dapat mempengaruhi kinerja dan                   image of Company;
   citra perusahaan;
3. Merencanakan dan menyelenggarakan Rapat Komisaris dan                3.   Plans and organizes Board of Commissioners and/or Board
   atau Direksi, Rapat Komite Audit, Rapat Umum Pemegang                     of Directors Meetings, Audit Committee Meetings, General
   Saham, paparan publik, pertemuan dengan para Pemegang                     Meeting of Shareholders, public expose, meetings with
   Saham, investor, analis dan wartawan;                                     Shareholders, investors, analysts and journalists;
4. Menyimpan dan mendokumentasikan semua kegiatan                       4.   Stores and documents all company activities, especially those
   perusahaan, khususnya yang mungkin diperlukan sebagai                     that may be needed as supporting evidence when Company
   bukti pendukung pada saat Perseroan menghadapi kondisi                    faces difficult conditions due to a company policy or to face a
   sulit akibat suatu kebijakan perusahaan ataupun untuk                     lawsuit;
   menghadapi suatu tuntutan hukum;
5. Mengikuti perkembangan pasar modal, khususnya peraturan-             5. Keep abreast of capital market developments, in particular
   peraturan yang berlaku, serta memberikan masukan kepada                 the applicable regulations, as well as provide input to Board
   Direksi dan Dewan Komisaris tentang ketentuan-ketentuan                 of Directors and Board of Commissioners regarding Capital
   Pasar Modal;                                                            Market provisions;
6. Menjaga kerahasiaan dokumen maupun data perusahaan;                  6. Maintains the confidentiality of company documents and data;
7. Bekerja sama dengan Divisi Keberlanjutan Perseroan dalam             7. Collaborates with Company’s Sustainability Division in
   pelaksanaan kegiatan program keberlanjutan (Corporate                   implementing sustainability program activities (Corporate
   Social Responsibility/CSR).                                             Social Responsibility/CSR).



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       PROGRAM PENGEMBANGAN KOMPETENSI SEKRETARIS                                        CORPORATE SECRETARY COMPETENCY DEVELOPMENT
       PERUSAHAAN                                                                        PROGRAM

       Program pengembangan kompetensi yang diikuti Sekretaris                           The competency development programs participated by the
       Perusahaan selama tahun 2023, sebagai berikut:                                    Corporate Secretary during 2023 were as follows:



                     Tanggal                                                              Workshop atau Seminar
                       Date                                                                Workshop or Seminar
                   24 Mei 2023
                                         Understanding the Landscape and Significance of GSS Bonds
                   May 24, 2023
                    13 Juni 2023
                                         The Future of Sustainability Reporting: An Exclusive Forum for Regulators and Listed Companies in Indonesia
                   June 13, 2023
                   22 Juni 2023
                                         Experiences from the Frontlines in Promoting Sustainable Bond/Sukuk Issuances and Investment
                  June 22, 2023
               1-3 November 2023
                                         Indonesia Palm Oil Conference (IPOC)
               November 1-3, 2023




       PELAKSANAAN TUGAS SEKRETARIS PERUSAHAN                                            CORPORATE SECRETARY ACTIVITIES IN 2023

       Selama tahun 2023, Sekretaris Perusahaan telah melaksanakan                       During 2023, the Corporate Secretary has carried out its duties,
       tugasnya, antara lain sebagai berikut:                                            including the following:


       1. Menyelenggarakan RUPS Tahunan Tahun Buku 2022 pada                             1. Holding the Annual GMS for Financial Year 2022 on May 8, 2023,
          tanggal 8 Mei 2023 dan RUPS Luar Biasa dan Independen                             and the Independent and Extraordinary GMS on December 5,
          pada tanggal 5 Desember 2023.                                                     2023.
       2. Menyelenggarakan Paparan Publik Tahunan 2022 secara                            2. Organizing the 2022 Annual Public Expose online and offline
          online dan offline pada tanggal 8 Mei 2023.                                       on May 8, 2023
       3. Menyelenggarakan dan menghadiri rapat Dewan Komisaris                          3. Organizing and attending meetings of the Board of
          dan Direksi dengan sebanyak 7 kali serta membuat risalah                          Commissioners and Board of Directors 7 times and making
          rapat.                                                                            minutes of meetings.
       4. Menyampaikan laporan berkala dan laporan insidentil kepada                     4. Submit periodic reports and incidental reports to regulators
          regulator sesuai ketentuan yang berlaku.                                          by applicable regulations.
       5. Melakukan keterbukaan informasi atas setiap aksi korporasi                     5. Conduct information disclosure for every Corporate Action
          Perseroan kepada masyarakat sesuai dengan ketentuan yang                          of the Company to the public in accordance with applicable
          berlaku.                                                                          regulations.
       6. Mengadministrasikan, mendistribusikan serta menindaklanjuti                    6. Administering, distributing, and following up incoming letters
          surat masuk yang diterima Perseroan dan ditujukan kepada                          received by the Company and addressed to the Board of
          Direksi dan/atau Dewan Komisaris, khususnya surat yang                            Directors and/or Board of Commissioners, especially letters
          diterima dari regulator melaui Sistem Pelaporan Elektronik.                       received from regulators through the Electronic Reporting
                                                                                            System.




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                                                                                                                       TATA KELOLA PERUSAHAAN
                                                                                                                                     CORPORATE GOVERNANCE   05

DIVISI KEBERLANJUTAN
SUSTAINABILITY DIVISION

Divisi Keberlanjutan adalah organ yang bertanggung jawab dalam            The Sustainability Division is the organ responsible for determining
menentukan kebijakan keberlanjutan, mengkoordinir praktik                 sustainability policies, coordinating sustainability practices
keberlanjutan yang dilaksanakan oleh divisi terkait dan mengelola         implemented by related divisions and managing the traffic of data
lalu lintas data dan informasi terkait keberlanjutan.                     and information related to sustainability.


DASAR HUKUM                                                               LEGAL REFERENCES

Penunjukan Penanggung Jawab Keberlanjutan didasarkan pada                 The establishment of the Sustainability Unit refers to the Circular
Surat Edaran OJK No. 16/SEOJK.04/2021 tentang Bentuk dan Isi              of OJK No. 16/SEOJK.04/2021 regarding the Format and Contents
Laporan Tahunan Emiten atau Perusahaan Publik.                            of the Annual Report of Issuers and Public Companies.


Divisi Keberlanjutan bertanggung jawab langsung kepada Direksi            The Sustainability Division reports directly to the Board of Directors
serta diangkat dan diberhentikan berdasarkan Keputusan Direksi            and is appointed and dismissed based on the Decree of the Board
dengan mekanisme internal Perusahaan dan atas persetujuan                 of Directors with the Company’s internal mechanism and with the
Dewan Komisaris.                                                          approval of the Board of Commissioners.


KEANGGOTAAN DIVISI KEBERLANJUTAN                                          MEMBERSHIP OF SUSTAINABILITY DIVISION

Berdasarkan SK Direksi tanggal 17 Oktober 2017 yang                       Based on Directors Decree on October 17, 2017 and was updated
diperbaharui pada 16 September 2023, susunan keanggotaan                  on September 16, 2023, the composition of membership of
divisi sustainability adalah sebagai berikut:                             sustainability division is as follows:



Pembina                                   Direksi PT Sawit Sumbermas Sarana Tbk
Coach                                     Board of Directors of PT Sawit Sumbermas Sarana Tbk
Ketua Divisi
                                          Chief Sustainability Officer
Division Head
Manajer                                   1. Manager QHSE System & Certification
Manager                                   2. Manager HCV-HCS, Traceability, ISH, RaCP, & Social
Asisten Manajer                           1. Assistant Manager RSPO, Human Right, & System ISO
Manager Assistant                         2. Assistant Manager ISPO, ISCC & Fire Management
                                          3. Assistant Manager Traceability & Independent Smallholder
                                          4. Assistant Manager Racp
                                          5. Assistant Manager HCV – HCS, Environment, Conservation & Waste
                                          6. Assistant Manager Communication Media, Budget, Reporting & Doc. Control
Staf                                      1. Staff Certification, Human Right & System ISO
Staff                                     2. Staff RSPO, Book & Claim
                                          3. Staff ISPO & ISCC
                                          4. Staff Fire Management
                                          5. StaffSocial & Traceability
                                          6. Staff Independent Smallholder Certification
                                          7. Staff RaCP (Pulau Salat & Petak Puti)
                                          8. Staff RaCP (Masoraian & Danau Seluluk)
                                          9. Staff Environment & Waste
                                          10. Staff HCV – HCS & Conservation
                                          11. Staff Environment & Waste Management
                                          12. Staff Administration, Budget, & Document Control




PROFIL KEPALA DIVISI KEBERLANJUTAN                                        SUSTAINABILITY DIVISION HEAD PROFILE

Divisi Keberlanjutan dikepalai oleh seorang ketua yang                    The Sustainability Division is led by a chairman who is responsible
bertanggung jawab atas penerapan keberlanjutan di dalam                   for implementing sustainability in the Company’s business
kegiatan operasional bisnis Perseroan. Perseroan mengangkat               operations. Based on Board of Directors Decree No. 0510/
Henky Satrio Wibowo sebagai Kepala Divisi Keberlanjutan                   SSS-HRD/SKM/PK/X/2021 dated April 1, 2021, the Company
berdasarkan Surat keputusan Direksi No. 0510/SSS-HRD/SKM/                 appointed Henky Satrio Wibowo as Head of the Sustainability
PK/X/2021 tanggal 1 April 2021.                                           Division.




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                                                                                                     HENKY SATRIO
                                                                                                       WIBOWO
                                                                                                               KEPALA DIVISI KEBERLANJUTAN
                                                                                                                Head of Sustainability Division


        Usia                                                                          Age
        49 tahun                                                                      49 years old
        Kewarganegaraan                                                               Citizenship
        Indonesia                                                                     Indonesian
        Dasar Hukum Penunjukan                                                        Legal Basis of Appointment
        SK No. 0510/SSS-HRD/SKM/PK/X/2021 tanggal 1 April 2021                        Decree No. 0510/SSS-HRD/SKM/PK/X/2021 dated April 1, 2021
        Riwayat Pendidikan                                                            Educational Background
        2013 – 2015 : Magister Management- Master Degree on Sustainability and        2013 – 2015 : Master of Management- on Sustainability and Corporate
        Corporate Social Responsibility, Trisakti University, Jakarta (Thesis: Good   Social Responsibility, Trisakti University, Jakarta (Thesis: Good Corporate
        Corporate Governance: Analysis of anti-corruption program in state own        Governance: Analysis of anti-corruption program in state own company
        company based on ISO26000)                                                    based on ISO26000)
        Pengalaman Kerja                                                              Work Experience
        22 tahun memiliki pengalaman kerja di NGO/CSO Civil Society Organisation      22 years of working experience in NGO/CSO Civil Society Organizations
        dengan berbagai Issue, seperti issue Kesehatan, issue anak dan perempuan,     with various issues, such as health issues, children and women issues,
        issue anti korupsi, issue masyarakat adat serta lingkungan dan perubahan      anticorruption issues, indigenous peoples issues as well as environment and
        iklim.                                                                        climate change.

        Pada tahun 2016 sampai 2019 mulai bekerja di private sector dengan            Since 2016 to 2019, he starts to work in private sector with position as Head
        posisi sebagai Head Sustainability di perusahaan Hutan Tanaman Industri,      Sustainability in Hutan Tanaman Industri, in addition, he also had a position
        selain itu juga sebagai konsultan sebelum akhirnya bergabung dengan           as a consultant before join with PT SSMS Tbk.
        perusahaan PT SSMS Tbk.
        Pendidikan dan Pelatihan                                                      Education and Training
        • 8 – 14 April 2013 : Regional Training of Trainers (ToT) On Advocacy,        • April 8 - 14, 2013 : Regional Training of Trainers (ToT) On Advocacy,
          Lobbying and Negotiation Skills in Climate Change and REDD+                   Lobbying and Negotiation Skills in Climate Change and REDD+
          Negotiation – Chiangmai, Thailand                                             Negotiation – Chiangmai, Thailand
        • 24 – 30 April 2013 : Global Expert Workshop and Training on Indigenous      • April 24 - 30, 2013 : Global Expert Workshop and Training on Indigenous
          People’s Community Based Monitoring and Information System Training           People’s Community Based Monitoring and Information System Training
          University of Stockholm, Bonn- Germany                                        University of Stockholm, Bonn- Germany
        • 8 – 14 Mei 2013 : Climate Change Partnership with Indigenous People in      • May 8 - 14, 2013 : Climate Change Partnership with Indigenous People in
          South East Asia Regional Sharing Workshop – Chiangmai, Thailand               South East Asia Regional Sharing Workshop – Chiangmai, Thailand
        • 22 – 27 Mei 2013 : The International Workshop on REDD+ and Benefit          • May 22 - 27, 2013 : The International Workshop on REDD+ and Benefit
          Sharing, Belem, Brazil                                                        Sharing, Belem, Brazil
        • 3 – 14 Juni 2013 : United Nation Framework on Convention of Climate         • June 3 - 14, 2013 : United Nation Framework on Convention of Climate
          Change Conference. Bonn- Germany                                              Change Conference. Bonn- Germany
        • 23 – 25 Juli 2013 : Benefit Sharing in REDD+ Workshop, Phnom Penh,          • July 23 - 25, 2013 : Benefit Sharing in REDD+ Workshop, Phnom Penh,
          Cambodia                                                                      Cambodia
        • 23 Agustus 2013 – 1 September 2013 : International Mapping Conference       • August 23, 2013 – September 1, 2013 : International Mapping Conference
          and Community Based Monitoring Information System, Toba-South                 and Community Based Monitoring Information System, Toba-South
          Sumatera - Indonesia                                                          Sumatera - Indonesia
        • 23 – 25 September 2013 : Regional REDD+ expert workshop and                 • September 23 - 25, 2013 : Regional REDD+ expert workshop and
          partnership meeting, Chiangmai, Thailand                                      partnership meeting, Chiangmai, Thailand
        • 28 – 31 Jan 2014 : Regional REDD+ expert workshop and partnership           • January 28 - 31, 2014 : Regional REDD+ expert workshop and partnership
          meeting, Chiangmai, Thailand                                                  meeting, Chiangmai, Thailand
        • 20 – 27 April 2014 : Regional REDD+ expert workshop and partnership         • April 20 - 27, 2014 : Regional REDD+ expert workshop and partnership
          meeting, Hanoi, Vietnam                                                       meeting, Hanoi, Vietnam
        • 30 Juni 2014 – 15 Juli 2014 : UNFCCC (United Nation Framework on            • June 30, 2014 – July 15, 2014 : UNFCCC (United Nation Framework on
          Convention of Climate Change) Conference. Bonn- Germany                       Convention of Climate Change) Conference. Bonn - Germany
        • 30 Januari 2015 - 5 Februari 2015 : Regional REDD+ Expert workshop and      • January 30, 2015 – February 5, 2015 : Regional REDD+ Expert workshop
          partnership meeting, Chiangmai, Thailand                                      and partnership meeting, Chiangmai, Thailand
        • 5 – 10 Oktober 2015 : Roundtable Discussion WWF related Climate             • October 5 – 10, 2015 : Roundtable Discussion WWF related Climate
          Change, Vancouver, Canada                                                     Change, Vancouver, Canada
        • 2018 : Training on Business and Human Right Training- IFCC Secretariat,     • 2018 : Training on Business and Human Right Training- IFCC Secretariat,
          Bogor                                                                         Bogor
        • 22 – 30 November 2023 : Pelatihan Auditor ISPO                              • November 22- 30, 2023: ISPO Auditor Training
        • 2023 : Anggota Task Force (Substantif) RSPO dari Indonesia Growers          • 2023: Member of Task Force (Substantif) RSPO from Indonesia Growers to
          untuk merumuskan Prinsip RSPO dan Kriteria 2023                               formulating RSPO Principles and Criteria in 2023




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                                                                                                                                                        TATA KELOLA PERUSAHAAN
                                                                                                                                                                      CORPORATE GOVERNANCE   05

STRUKTUR ORGANISASI DIVISI KEBERLANJUTAN                                                        SUSTAINABILITY DIVISION ORGANIZATIONAL STRUCTURE

Berdasarkan Keputusan Direksi No.F-HRDGA.GN001 tanggal                                          Based on Board of Directors Decree No.F-HRDGA.GN001 dated
14 Desember 2023 2023 Susunan Organisasi Perusahaan, Unit                                       December 14, 2023 2023 Corporate Organizational Structure, the
Audit Internal Perusahaan bertanggung jawab langsung kepada                                     Company’s Internal Audit Unit reports directly to the President
Direktur Utama, dengan struktur sebagai berikut:                                                Director, with the following structure:




                                                               CEO
                                                           PT SSMS Tbk




                                                             Head of
                                                           Sustainability
                                                             Division




                Manager QHSE System                                                          Manager Environment,
                   & Certification                                                            Social & Biodiversity




                                                                 Assistant Manager            Assistant Manager
  Assistant Manager             Assistant Manager                                                                         Assistant Manager
                                                                  Engagement &                 Conservation &
     Certification                    QHSE                                                                                       RaCP
                                                                    Traceability                 Biodiversity




                 Staff                                                          Staff                         Staff                      Staff                            Staff
                                              Staff
           ISO 9001; 14001;                                                 Engagement &                 Environment &            Project RaCP Salat                  Communication
                                        Fire Management
               & 45001                                                       Traceability              Waste Management           Island & Petak Puti                    Media




                                                                                                                                         Staff
               Staff                                                            Staff                                                                                     Staff
                                           Koordinator                                                       Staff                   Project RaCP
            RSPO & SCCS                                                      Smallholder                                                                             Admin, Budget, &
                                          Sustainability                                                   HCV & HCS                 Masorayan &
            Certification                                                    Certification                                                                           Document Control
                                                                                                                                    Danau Seluluk




                Staff
         ISPO Certification &
            Human Right




                                            Mandor
                                          Sustainability
                                       (Under Operational)




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       TUGAS DAN TANGGUNG JAWAB DIVISI KEBERLANJUTAN                                             SUSTAINABILITY DIVISION DUTIES & RESPONSIBILITIES

       Tugas dan tanggung jawab Divisi Keberlanjutan meliputi:                                   The responsibilities of the Sustainability Division include:


       1. Memastikan program sertifikasi ISO 9001, ISO 14001, ISO                                1.   Ensuring that the ISO 9001, ISO 14001, ISO 45001, SCCS, and
          45001, SCCS, ISCC, dan Bisnis dan HaK Asasi Manusia (BHRISC)                                BHRISC certification programs comply with the set strategy.
          berjalan sesuai dengan strategi yang telah ditetapkan
       2. Memastikan program sertifikasi RSPO dan            ISPO bagi                           2.   Ensuring that the RSPO and ISPO certification programs for
          Perusahaan, plasma dan pekebun berjalan sesuai dengan                                       the Company, plasma and smallholders comply with the set
          strategi yang telah ditetapkan                                                              strategy.
       3. Memastikan implementasi Sistem Manajemen ISO 9001, ISO                                 3.   Ensuring the implementation of Management Systems ISO
          14001, ISO 45001, SCCS, ISCC, RSPO, ISPO, Bisnis dan HaK                                    9001, ISO 14001, ISO 45001, SCCS, RSPO, ISPO, BHRISC, Social
          Asasi Manusia (BHRISC), Komunitas Sosial dan Manajemen                                      Community and Fire Management.
          Kebakaran
       4. Memastikan program traceability system, program landscape                              4.   Ensuring that the traceability system program, the landscape
          management, program kemitraan penjagaan hutan dan                                           management program, the community empowerment
          pemberdayaan masyarakat (desa binaan), dan program                                          program (empowered villages), and the orangutan
          konservasi orangutan berjalan sesuai dengan strategi yang                                   conservation program run according to the set strategy.
          telah ditetapkan.
       5. Memastikan        penerapan      kebijakan      keberlanjutan,                         5. Ensuring the implementation of Sustainability, Biodiversity,
          keanekaragaman hayati, NDPE serta HCV dan HCS untuk                                       NDPE and HVC and HCS Policies foe all business unit of SSMS
          seluruh unit bisnis SSMS Group.                                                           Group.
       6. Memastikan sistem perhitungan dan registrasi karbon pada                               6. Ensuring the carbon calculation and registration system in all
          unit bisnis SSMS Group.                                                                   business unit of SSMS Group.
       7. Bertanggung jawab langsung dan menangani keluhan                                       7. Directly responsible for handling external complaints, NGO
          eksternal, permasalahan LSM dan keterlibatan dengan                                       issues and engagement with buyers for sustainability issues.
          pembeli untuk isu keberlanjutan.



       PROGRAM PENGEMBANGAN                                 KOMPETENSI           DIVISI          SUSTAINABILITY DIVISION COMPETENCY DEVELOPMENT
       KEBERLANJUTAN                                                                             PROGRAM

       Program pengembangan kompetensi yang diikuti                                Divisi        The competency development programs participated by the
       Keberlanjutan selama tahun 2023, sebagai berikut:                                         Sustainability Division during 2023 were as follows:


                  Nama                              Jabatan                          Nama Kegiatan                            Tanggal              Penyelenggara
                  Name                              Position                          Activity Name                             Date                 Facilitator
                                         Staff Enviro & Waste                                                       03 - 07 Januari 2023
        Ayong Wahana                                                    LAC ISO 14001                                                          BSI Indonesia
                                         Management                                                                 January 3 – 7, 2023
                                         Koordinator Sustainability                                                 03 - 07 Januari 2023
        Syarifudin Andi                                                LAC ISO 14001                                                           BSI Indonesia
                                         Coordinator of Sustainability                                              January 3 – 7, 2023
                                                                                                                    03 - 07 Januari 2023
        Fikri Muhammad Yafi              Staff HCV & HCS                LAC ISO 14001                                                          BSI Indonesia
                                                                                                                    January 3 – 7, 2023
                                         Asmen Certification
                                                                        Training of Hazard Analysis Critical Control 24-25 Januari 2023
        Irfan Muhammad                   Assistant Management of                                                                               Sucofindo
                                                                        Point                                        January 24 – 25, 2023
                                         Certification
                                         Asmen Certification
                                                                        Training of GMP + Feed Certification        24-25 Januari 2023
        Irfan Muhammad                   Assistant Management of                                                                               Sucofindo
                                                                        Scheme 2020                                 January 24 – 25, 2023
                                         Certification
                                                                        Training of Hazard Analysis Critical Control 24-25 Januari 2023
        Wulan Damayanti                  Staff ISPO & BHRISC                                                                                   Sucofindo
                                                                        Point                                        January 24 – 25, 2023
                                                                        Training of GMP + Feed Certification        24-25 Januari 2023
        Wulan Damayanti                  Staff ISPO & BHRISC                                                                                   Sucofindo
                                                                        Scheme 2020                                 January 24 – 25, 2023
                                                                        Pelatihan Auditor ISPO                      22 – 30 November 2023
        Henky Satrio Wibowo              Chief Sustainability Officer                                                                          Dharma Mitra Solusi
                                                                        ISPO Auditor Training                       November 22 – 30, 2023
                                         Manager QHSE System &          Pelatihan Auditor ISPO                      22 – 30 November 2023
        Angga Sanggraha                                                                                                                        Dharma Mitra Solusi
                                         Certification                  ISPO Auditor Training                       November 22 – 30, 2023




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                                                                                                                             CORPORATE GOVERNANCE   05

PELAKSANAAN TUGAS DIVISI KEBERLANJUTAN                              SUSTAINABILITY DIVISION ACTIVITIES IN 2023

Selama tahun 2023, Divisi Keberlanjutan telah melaksanakan          During 2023, the Sustainability Division has carried out its duties,
tugasnya, antara lain sebagai berikut:                              including the following:


1.   Deklarasi komitmen dengan Kelompok Tani Hutan (KTH) HKm        1. Declaration of commitment with the Forest Farmers Group
     Komunitas Karya Masoraian dalam pemberdayaan kelompok             (KTH) HKm Karya Masoraian Community in empowering social
     perhutanan sosial dan kemitraan lingkungan tahun ke-3             forestry groups and environmental partnerships in the 3rd
                                                                       year
2.   Deklarasi komitmen dengan Kelompok Tani Hutan (KTH)            2. Declaration of commitment with assisted Forest Farmer
     binaan PT.MKM (KTH HKm Danau Seluluk Jaya; KTH HKm Tani           Groups (KTH) by PT. MKM (KTH HKm Danau Seluluk Jaya; KTH
     Sejati; dan KTH HKm Mawar Bersemi) dalam pemberdayaan             HKm Tani Sejati; and KTH HKm Mawar Bersemi) in empowering
     kelompok perhutanan sosial dan kemitraan lingkungan tahun         social forestry groups and environmental partnerships in the
     ke-1                                                              1st year
3.   Sertifikasi RSPO P&C PT MKM                                    3. RSPO P&C Certification of PT MKM
4.   Sertifikasi Business & Human Rights (BHRISC) PT SMU & PT TSA   4. Business & Human Rights Certification (BHRISC) for PT SMU &
                                                                       PT TSA
5. Sertifikasi ISCC EU PT SSS, PT KSA, PT MMS, PT SMU, PT TSA,      5. ISCC EU Certification for PT SSS, PT KSA, PT MMS, PT SMU, PT
   PT MPP, PT MKM (POME Oil)                                           TSA, PT MPP, PT MKM (POME Oil)
6. Re-sertifikasi RSPO P&C PT KSA (Pabrik Kelapa Sawit Natai        6. Re-certification RSPO P&C of PT KSA (Sawir Coconut Factory in
   Baru)                                                               Natai Baru)
7. Re-sertikasi ISO 9001:2015, ISO 14001:2018, ISO 45001:2018       7. Re-certification of ISO 9001:2015, ISO 14001:2018, ISO
   SSMS Group.                                                         45001:2018 for SSMS Group.
8. ASA 4 RSPO Independent Smallholder – Asosiasi Petani Kelapa      8. ASA 4 RSPO Independent Smallholder – Independent Palm
   Sawit Mandiri, Kab. Kotawaringin Barat (1.748,80 hectare, 804       Oil Farmers Association, Kab. West Kotawaringin (1,748.80
   independent smallholders)                                           hectares, 804 independent smallholders)
9. Initial Audit RSPO Independent Smallholder – BUMDes Berkah       9. Initial Audit RSPO Independent Smallholder – BUMDes Berkah
   Mulya Jaya, Kab. Lamandau (537,35 hectare, 126 independent          Mulya Jaya, Kab. Lamandau (537.35 hectares, 126 independent
   smallholders)                                                       smallholders)




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       AUDIT INTERNAL
       INTERNAL AUDIT

       Audit Internal merupakan suatu kegiatan pemberian keyakinan                  Internal Audit is an independent and objective assurance and
       (asurans) dan konsultasi yang bersifat independen dan obyektif,              consultation activity, with the aim of increasing the Company’s
       dengan tujuan untuk meningkatkan nilai Perusahaan dan                        value and improving the Company’s operational performance,
       memperbaiki kinerja operasional Perusahaan, melalui pendekatan               through a systematic approach, by evaluating and improving the
       yang sistematis, dengan cara mengevaluasi dan meningkatkan                   effectiveness of risk management, internal control, and Corporate
       efektivitas manajemen risiko, pengendalian internal, dan proses              Governance processes.
       tata Kelola Perusahaan.


       Perusahaan memiliki Unit Audit Internal yang berfungsi untuk                 The Company has an Internal Audit Unit which functions to test
       menguji dan mengevaluasi pelaksanaan pengendalian internal                   and evaluate the implementation of internal control and risk
       dan manajemen risiko sesuai dengan kebijakan Perseroan.                      management in accordance with the Company’s policies.


       DASAR HUKUM PEMBENTUKAN                                                      LEGAL REFERENCES

       Sesuai dengan Peraturan Otoritas jasa keuangan No. 56/                       Pursuant to the Financial Services Authority Regulation No. 56/
       POjk.04/2015 tentang Pembentukan dan Pedoman Penyusunan                      POjk.04/2015 on the Establishment and Guidelines for Internal
       Piagam Unit Audit Internal, Perseroan telah membentuk Unit                   Audit Charter, the Company has established the Internal Audit.
       Audit Internal Perseroan.


       PROFIL KEPALA UNIT AUDIT INTERNAL                                            PROFILE OF HEAD OF INTERNAL AUDIT UNIT




                                                                                                         ANJAR
                                                                                                        WIDIARSO
                                                                                                            KEPALA UNIT AUDIT INTERNAL
                                                                                                               Internal Audit Unit Head


        Usia                                                                      Age
        53 tahun                                                                  53 years old
        Kewarganegaraan                                                           Citizenship
        Indonesia                                                                 Indonesian
        Dasar Hukum Penunjukan                                                    Legal Basis of Appointment
        Surat Keputusan Direktur Utama No. 0102/MMS-HRD/SKM/PKA/II/2022           President Director Decree No. 0102/MMS-HRD/SKM/PKA/II/2022
        Riwayat Pendidikan                                                        Educational Background
        S1 Akuntansi, Universitas Islam Indonesia, Yogyakarta                     Bachelor of Accounting, Indonesian Islamic University, Yogyakarta.
        Pengalaman Kerja                                                          Work Experience
        • Verificator (Internal Auditor) Bank Danamon (1996-2000).                • Verificator (Internal Auditor) Bank Danamon (1996-2000).
        • Data Mining and Processing Data Support in Loan Outsourcing Division,   • Data Mining and Processing Data Support in Loan Outsourcing Division,
           Bank Danamon (2000-2002).                                                Bank Danamon (2000-2002).
        • Staff Satuan Pengawasan Intern PT Indo Farma Tbk (2002-2005)            • Staff of Internal Audit Unit PT Indo Farma Tbk (2002-2005)
        • Internal Auditor PT Delta Djakarta Tbk (2005-2007).                     • Internal Auditor PT Delta Djakarta Tbk (2005-2007).
        • Senior Internal Auditor PT Delta Djakarta Tbk (2007-2011).              • Senior Internal Auditor PT Delta Djakarta Tbk (2007-2011).
        • Management Accountant PT Delta Djakarta Tbk (2011-2012).                • Management Accountant PT Delta Djakarta Tbk (2011-2012).
        • Kasie. Internal Audit PT Sawit Sumbermas Sarana Tbk (2012-2017).        • Section Head of Internal Audit PT Sawit Sumbermas Sarana Tbk (2012-
        • Manager Internal Audit PT Sawit Sumbermas Sarana, Tbk (2017-2019).        2017).
                                                                                  • Manager Internal Audit PT Sawit Sumbermas Sarana, Tbk (2017-2019).
        Pendidikan dan Pelatihan                                                  Education and Training
        • Audit Intern, Basic I, YPIA, Jakarta, 2004.                             • Audit Intern, Basic I, YPIA, Jakarta, 2004.
        • Audit Intern, Advance I, YPIA, Jakarta, 2008.                           • Audit Intern, Advance I, YPIA, Jakarta, 2008.
        • Audit Intern, Advance II, YPIA, Jakarta, 2010.                          • Audit Intern, Advance II, YPIA, Jakarta, 2010.
        • Workshop SAP, FI & CO Modules, 2005.                                    • Workshop SAP, FI & CO Modules, 2005.
        • Effective Report Writing, YPIA, 2007.                                   • Effective Report Writing, YPIA, 2007.




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STRUKTUR ORGANISASI UNIT AUDIT INTERNAL                                      ORGANIZATIONAL STRUCTURE OF INTERNAL AUDIT UNIT

Berdasarkan Keputusan Direksi No.F-HRDGA.GN001 tanggal 14                    Based on Board of Directors Decree No.F-HRDGA.GN001 date
Desember 2023 tentang Susunan Organisasi Perusahaan, Unit                    14 Desember 2023 concerning the Company’s Organizational
Audit Internal Perusahaan bertanggung jawab langsung kepada                  Structure, the Company’s Internal Audit Unit reports directly to the
Direktur Utama, dengan struktur sebagai berikut:                             President Director, with the following structure:



                                              Struktur Organisasi Unit Audit Internal
                                              Internal Audit Organizational Structure




                                                       DEPT. HEAD OF
                                                      INTERNAL AUDIT

                                                     ANJAR WIDIARSO




                    MANAGER INTERNAL                                                      MANAGER INTERNAL
                    AUDIT (UPSTREAM)                                                      AUDIT (UPSTREAM)




    ASSISTANT          ASSISTANT           ASSISTANT                ASSISTANT                ASSISTANT            ASSISTANT
 MANAGER INTERNAL   MANAGER INTERNAL    MANAGER INTERNAL         MANAGER INTERNAL         MANAGER INTERNAL     MANAGER INTERNAL
 AUDIT (UPSTREAM)   AUDIT (UPSTREAM)    AUDIT (UPSTREAM)         AUDIT (UPSTREAM)         AUDIT (UPSTREAM)     AUDIT (UPSTREAM)




                                                                                                                                             STAFF ADMIN
   STAFF AUDITOR      STAFF AUDITOR       STAFF AUDITOR            STAFF AUDITOR            STAFF AUDITOR        STAFF AUDITOR
                                                                                                                                           INTERNAL AUDIT
    (UPSTREAM)         (UPSTREAM)          (UPSTREAM)               (UPSTREAM)               (UPSTREAM)           (UPSTREAM)
                                                                                                                                             (UPSTREAM)




                              Senior                                                Assistant
                                                      Manager                                                Assistant
                              Manager                                               Manager




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       ALUR PENGANGKATAN/PEMBERHENTIAN KEPALA UNIT                                             FLOW OF APPOINTMENT/DISMISSAL OF HEAD OF
       AUDIT INTERNAL                                                                          INTERNAL AUDIT UNIT



                          01                                      02                                      03                                      04
                   Penyampaian usulan                     Dewan Komisaris                           Penetepan pengangkatan/                Menyampaikan laporan
                   pengangkatan/                          memberikan                                pemberhentian melalui                  mengenai pengangkatan/
                   pemberhentian Kepala                   persetujuan dengan                        Surat Keputusan Direksi                pemberhentian Kepala
                   Unit Audit Internal kepada             mempertimbangkan                                                                 Unit Audit Internal kepada
                   Dewan Komisaris melalui                rekomendasi Komite Audit                  Decision of the                        OJK
                   Komite Audit                                                                     Appointment/Dismissal by
                                                          The Board of                              the Decree of the Board of             Submit a Report of the
                   Submission of Proposed                 Commissioners gives                       Directors                              Appointment/Dismissal
                   Appointment/Dismissal                  approval by considering                                                          of Internal Audit Division
                   of Internal Audit Division             the recommendation of the                                                        Head to the FSA
                   Head to the Board of                   Audit Committee
                   Commissioners through
                   Audit Committee




       SUMBER DAYA MANUSIA DAN SERTIFIKASI PROFESI UNIT                                        HUMAN      RESOURCES       AND     PROFESSIONAL
       AUDIT INTERNAL                                                                          CERTIFICATION OF INTERNAL AUDIT UNIT

       Sampai dengan akhir Desember 2023, jumlah anggota Unit                                  As of the end of December 2023, Internal Audit Unit members
       Audit Internal Perseroan ada sebanyak 18 orang yang terdiri                             composed of 18 personnel consisting of a chairman, 1 (one)
       dari seorang Ketua, 1 (satu) orang Manager Unit Audit Internal, 5                       Manager of Internal Audit Unit, 5 (five) Section Head of Internal
       (lima) Ka. Sie Unit Audit Internal, 10 (sepuluh) Staf Auditor, dan 1                    Audit Unit, 10 (ten) Auditor staffs, and 1 (one) administration. Of
       (satu) Administrasi. Dari 18 anggota Unit Audit Internal yang telah                     the 18 Internal Audit Unit members who already have professional
       memiliki sertifikat profesi adalah sebagai berikut:                                     certificates are as follows:


                                                                                                        Jumlah Personil Audit Internal yang Memiliki Sertifikasi Profesi
                                     Sertifikasi Profesi                  Dikeluarkan oleh
            No                                                                                            Number of Internal Audit Personnel Obtaining Professional
                                 Professional Certification                   Issued by
                                                                                                                                 Certification
            1.      Qualified Internal Auditor (QIA)                            YPIA                                                   1
            2.      Tax Brevet A & B                                      Makui Tax Intitute                                           2
            3.      Certified Professional Audit Manager (CPAM)                PPA&K                                                   1




       TUGAS DAN TANGGUNG JAWAB UNIT AUDIT INTERNAL                                            DUTIES AND RESPONSIBILITIES OF THE INTERNAL AUDIT
                                                                                               UNIT
       1.        Menyusun strategi dan rencana kerja audit tahunan serta                       1.     Develop an annual audit strategy and work plan as well as
                 pengembangan kemampuan dan keterampilan auditor                                      developing auditor capabilities and skills based on risk-based
                 berdasarkan hasil analisis risiko (risk based audit) yang                            audit faced by management in achieving the mission, vision,
                 dihadapi manajemen dalam pencapaian misi, visi, strategi                             company strategy and business strategy;
                 perusahaan dan strategi bisnis;
       2.        Menguji dan mengevaluasi pelaksanaan pengendalian                             2.     Test and evaluate the implementation of internal control
                 intern dan sistem manajemen risiko sesuai dengan kebijakan                           and risk management systems in accordance with company
                 perusahaan;                                                                          policy;
       3.        Mempersiapkan dan melaksanakan audit ketaatan (compliance                     3.     Prepare and carry out compliance audits with various
                 audit) terhadap berbagai ketentuan dan peraturan termasuk                            provisions and regulations including company budgets and
                 anggaran dan target perusahaan;                                                      targets;
       4.        Mempersiapkan dan melaksanakan audit keuangan (financial                      4.     Prepare and carry out financial audits on certain items to
                 audit) atas pos-pos tertentu untuk mendukung audit laporan                           support audits of financial statements by external auditors;
                 keuangan oleh auditor eksternal;
       5.        Mempersiapkan dan melaksanakan audit operasional                              5.     Prepare and carry out operational audits (operational or
                 (operational atau management audit) untuk mengukur tingkat                           management audits) to measure the level of efficiency,
                 efisiensi, keefektifan, pelaksanaan kegiatan manajemen dalam                         effectiveness, implementation of management activities in
                 mencapai misi, tujuan dan strategi yang telah ditetapkan serta                       achieving the mission, goals and strategies that have been set
                 tingkat operational excellency yang diharapkan;                                      as well as the expected level of operational excellence;



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6. Mempesiapkan dan melaksanakan audit terhadap sistem                    6. Prepare and carry out audits of management information
    informasi manajemen;                                                      systems;
7. Mempersiapkan dan melaksanakan audit khusus (investigative             7. Prepare and carry out special audits (investigative audits),
    audit), terutama atas penugasan dari Chief Executive Officer              especially on assignment from the Chief Executive Officer
    dan/atau Dewan Komisaris dan permintaan manajemen atas                    and/or the Board of Commissioners and at the request of
    persetujuan Chief Executive Officer;                                      management with the approval of the Chief Executive Officer;
8. Mempersiapkan dan melaksanakan audit pasif (desk audit)                8. Prepare and carry out passive audits (desk audits) of
    terhadap laporan aktivitas manajemen;                                     management activity reports;
9. Melakukan pemantauan dan pengecekan atas pelaksanaan                   9. Monitoring and checking the implementation of follow-
    tindak lanjut (corrective action) atas hasil internal audit maupun        up (corrective action) on the results of internal and external
    eksternal;                                                                audits;
10. Memberikan masukan dalam penyempurnaan sistem,                        10. Provide input in improving systems, procedures, budgets and
    prosedur, anggaran dan kebijakan yang diperlukan                          policies needed to achieve efficiency and effectiveness of
    bagi tercapianya efisiensi dan keefektifan kegiatan dan                   activities and internal controls so that they are in line with the
    pengendalian internal sehingga selaras dengan misi dan                    company’s mission, goals and strategy;
    tujuan serta strategi perusahaan;
11. Melakukan dan memberikan kontribusi untuk peningkatan                 11. Carry out and contribute to improving effective control by
    pengendalian yang efektif dengan melakukan review dan                     reviewing and evaluating internal control in all activity units
    evaluasi terhadap pengendalian internal pada semua unit                   within the company;
    kegiatan di lingkungan perusahaan;
12. Melakukan evaluasi dan memberikan kontribusi pada                     12. Evaluate and contribute to improving the risk management
    peningkatan proses manajemen risiko dengan membantu                       process by helping the company identify and evaluate
    perusahaan mengidentifikasi dan mengevaluasi eksposure                    significant risk exposures;
    risiko yang isgnifikan;
13. Menilai dan membuat rekomendasi untuk peningkatan proses              13. Assess and make recommendations for improving governance
    governance;                                                               processes;
14. Mengevaluasi kecukupan dari indikator pengukuran kinerja              14. Evaluate the adequacy of the performance measurement
    yang digunakan;                                                           indicators used;
15. Menyusun dan menyempurnakan standar kerja internal audit              15. Develop and improve internal audit work standards and
    dan panduan internal audit perusahaan;                                    company internal audit guidelines;
16. Melakukan koordinasi kegiatan internal audit dengan kegiatan          16. Coordinate internal audit activities with the activities of other
    unit-unit manajemen lain di lingkungan perusahaan;                        management units within the company;
17. Menyampaikan laporan hasil audit, rekomendasi perbaikan               17. Submit audit results reports, recommendations for
    dan tindak lanjut yang telah, sedang dan/atau belum                       improvements and follow-up actions that have been, are being
    dilaksanakan manajemen kepada Direktur Utama dengan                       and/or have not been implemented by management to the
    tembusan kepada Dewan Komisaris;                                          President Director with a copy to the Board of Commissioners;
18. Memantau, menganalisa dan melaporkan pelaksanaan tindak               18. Monitor, analyze and report on the implementation of
    lanjut perbaikan yang telah disarankan;                                   recommended follow-up improvements;
19. Bekerja sama dan memiliki arus koordinasi kerja dengan                19. Cooperate and have a work coordination flow with the Audit
    Komite Audit;                                                             Committee;
20. Melakukan pemeriksaan khusus apabila diperlukan;                      20. Carry out special inspections if necessary;
21. Secara berkala, Menyusun program untuk mengevaluasi mutu              21. Periodically, prepare a program to evaluate the quality of
    kegiatan internal audit yang dilakukan dan menyampaikan                   internal audit activities carried out and submit progress
    laporan kemajuan pelaksanaan tugas dan fungsi audit kepada                reports on the implementation of audit duties and functions
    Direktur Utama;                                                           to the President Director;
22. Berkoordinasi dengan pihak eksternal berdasarkan penugasan            22. Coordinate with external parties based on assignments from
    dari Direktur Utama dalam kaitannya dengan tugas-tugas                    the President Director in relation to supervisory duties in the
    pengawasan di perusahaan; dan                                             company; And
23. Menyelenggarakan         administrasi     (back     office)   untuk   23. Organizing administration (back office) to support orderly
    mendukung tertib administrasi dan pelaporan hasil audit                   administration and reporting of internal audit results.
    internal audit.




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       PIAGAM AUDIT INTERNAL                                                             INTERNAL AUDIT CHARTER

       Perseroan telah memiliki Piagam Audit Internal yang dikaji berkala                The Company has an Internal Audit Charter that is reviewed regularly
       agar sesuai dengan praktik terkini. PAI Perseroan telah ditetapkan                as to conform with current practices. The Charter has been ratifed
       pada tanggal 31 Juli 2019 serta telah dipublikasikan di situs                     by dated July 31, 2019, and has been published on the Company’s
       Perusahaan. Piagam Audit Internal (PAI) antara lain mencakup                      website. The Internal Audit Charter (PAI) includes, among others,
       Pendahuluan, Kedudukan dan Pertanggungjawaban, Personalia,                        Introduction, Position and Accountability, Personnel, Function
       Fungsi dan Ruang Lingkup Tugas, Tugas dan Tanggung Jawab,                         and Scope of Duties, Duties and Responsibilities, Authority, Work
       Wewenang, Hubungan Kerja, Pelaporan, Kode Etik, Pembebanan                        Relations, Reporting, Code of Ethics, Cost Charging, and Closing.
       Biaya, dan Penutup.



       KODE ETIK AUDITOR INTERNAL                                                        INTERNAL AUDITOR CODE OF ETHICS

       Kode etik auditor internal Perseroan mengacu pada Kode Etik                       The Company’s internal auditor code of ethics refers to the Code
       dari The Institute of Internal Auditors yang memuat standar                       of Ethics of The Institute of Internal Auditors which contains
       perilaku sebagai pedoman bagi seluruh Auditor Internal dalam                      standards of conduct as guidelines for all Internal Auditors in
       menjalankan praktik audit internal.                                               carrying out internal audit practices.



                                                                                             Integritas
                                                                                              Integrity
                                   Menunjukkan kejujuran, obyektivitas, dan                        Demonstrate honesty, objectivity, and
                                   Kesungguhan dalam melaksanakan tugas, serta taat hukum          Sincerity in carrying out duties, as well as obeying the law and
                                   dan etika Perusahaan.                                           ethics of the Company.




                                                                                           Objektivitas
                                                                                           Objectivity
                                   Tidak melakukan kegiatan yang dapat berpotensi/                 Not doing activities that can potentially/cause
                                   menimbulkan konflik dengan kepentingan Perusahaan, tidak        conflict with the Company’s interests, not accepting anything
                                   menerima sesuatu dalam bentuk apapun dari auditee dan pihak     in any form from the auditee and other parties related to
                                   lain yang terkait dengan pekerjaan audit, mengungkapkan         audit work, disclosing all important and material facts and not
                                   semua fakta penting dan material serta tidak menutupi adanya    covering up the existence of unlawful practices.
                                   praktik-praktik yang melanggar hukum.



                                                                                           Kerahasiaan
                                                                                           Concealment
                                   Bersikap hati-hati dan bijaksana dalam menggunakan informasi    Be careful and prudent in using the information obtained,
                                   yang diperoleh, selalu menjaga kerahasiaan data dan informasi   always maintain the confidentiality of data and information
                                   terkait dengan pelaksanaan tugasnya serta tidak menggunakan     related to the implementation of its duties and do not use
                                   informasi untuk keuntungan pribadi atau kelompok yang dapat     information for personal or group benefits that can cause losses
                                   menimbulkan kerugian Perusahaan.                                to the Company.




                                                                                           Kompetensi
                                                                                           Competence
                                   Melaksanakan setiap penugasan dengan menggunakan                Carry out each assignment using their knowledge, expertise,
                                   pengetahuan, keahlian, pengalaman, dan kompetensi               experience, and professional competence, always improving
                                   profesional yang dimiliki, senantiasa meningkatkan kompetensi   their competence and effectiveness and quality on an ongoing
                                   serta efektivitas dan kualitasnya secara berkelanjutan.         basis.




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SISTEM INFORMASI MANAJEMEN AUDIT                                     AUDIT MANAGEMENT INFORMATION SYSTEM

Hingga akhir tahun 2023, Perseroan belum memiliki sistem             By the end of 2023, the Company still have not yet an audit
informasi manajemen audit. Saat ini, sistem ini sedang dalam         management information system. Currently, this system is
proses kajian oleh Unit Audit Internal Perseroan untuk dapat         reviewed by the Company’s Internal Audit Unit so that it can be
disahkan dan diterapkan di tahun mendatang.                          ratified and implemented in the next year.



METODOLOGI AUDIT                                                     AUDIT METHODOLOGY

Unit Audit Internal menerapkan metodologi audit berbasis risiko      The Internal Audit Unit applies a risk-based audit methodology
(Risk Based Audit) yang diterapkan mulai dari tahap perencanaan      that is deployed starting from the annual audit planning stage,
audit tahunan, pelaksanaan audit sampai dengan pelaporan.            audit implementation to reporting. Risk assessment is carried
Penilaian risiko dilakukan secara menyeluruh, baik pada unit kerja   out thoroughly, both in work units at the head office and business
di kantor pusat maupun unit bisnis.                                  units.



RAPAT UNIT AUDIT INTERNAL                                            INTERNAL AUDIT UNIT MEETING

Selama tahun 2023 Unit Audit Internal telah melakukan Rapat          During 2023, the Internal Audit Unit has held 4 meetings with the
dengan Direksi sebanyak 4 kali, dengan Dewan Komisaris               Board of Directors, 4 meetings with the Board of Commissioners
sebanyak 4 kali dan Rapat dengan Komite Audit sebanyak 5 kali.       and 5 meetings with the Audit Committee.



PENGEMBANGAN KOMPETENSI UNIT AUDIT INTERNAL                          COMPETENCY DEVELOPMENT OF INTERNAL AUDIT UNIT

Sepanjang tahun 2023, anggota Unit Audit Internal mengikuti          Throughout 2023, members of the Internal Audit Unit have
berbagai program pendidikan dan/atau pelatihan untuk                 participated in various education and/or training programs for
peningkatan kompetensi, sebagaimana disebutkan dalam tabel           competency improvement, as described in the following table.
berikut.




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                                            Pelatihan/Pendidikan                                                        Tanggal                    Penyelenggara
            No
                                             Training/Education                                                           Date                       Facilitator
                                                                                                 13-22 Februari 2023
            1      Komunikasi dan Psikologi Audit                                                                                                      PPA&K
                                                                                                 February 13-22, 2023
                                                                                                 5-6 Juli 2023
            2      Konfrensi Auditor Internal (KAI) 2023                                                                                                YPIA
                                                                                                 July 5-6, 2023
                                                                                                 19 Juni – 3 Juli 2023
            3      Sertifikasi Tingkat Lanjutan                                                                                                         YPIA
                                                                                                 June 19, – July 3, 2023
                                                                                                 21 Agustus – 1 September 2023
            4      Sertifikasi Tingkat Lanjutan                                                                                                         YPIA
                                                                                                 August 21, 2023 – September 1, 2023
                                                                                                 11-21 September 2023
            5      Komunikasi dan Psikologi Audit                                                                                                      PPA&K
                                                                                                 September 11-21, 2023
                                                                                                 9-10 November 2023
            6      Seminar Nasional & Pengukuhan Gelar Kompetensi                                                                                      PPA&K
                                                                                                 November 9-10, 2023



       PELAKSANAAN KEGIATAN UNIT AUDIT INTERNAL                                                 IMPLEMENTATION OF INTERNAL AUDIT UNIT ACTIVITIES

       Di tahun 2023, Unit Audit Internal telah melaksanakan kegiatan                           In 2023, the Internal Audit Unit has carried out audit and consulting
       audit dan konsultasi sebagai berikut:                                                    activities as follows:


       1.       Sistem PMMP                                                                     1.   PMMP System
       2.       Sistem Finger Print                                                             2.   Finger Print System
       3.       Uang Muka Kerja                                                                 3.   Work Advance


       Jumlah Penugasan                                                                         Number of Assignments

       Jumlah penugasan Internal Audit periode 2023 sebanyak 87                                 The number of Internal Audit assignments for the 2023 period is 87
       penugasan, dengan contoh sebagai berikut :                                               assignments, with examples as follows:


                                  No. Surat Penugasan                                                              Judul Penugasan
            No.
                                  Letter of Assignment                                                            Assignment Subject
             1.      001/ST-IAD/I/2023                                 Pemeriksaan special GRL Dept. GAL Regional 3
                                                                       Special GRL Dept. GAL Regional 3 Special Examination
             2.      011/ST-IAD/II/2023                                General Audit Periode Pemeriksaan Juni 2022 – Feb 2023 di Batu Tunggal Estate
                                                                       General Audit Inspection Period June 2022 – Feb 2023 at Batu Tunggal Estate
             3.      018/ST-IAD/III/2023                               Verifikasi pekerjaan Borongan SIK di Regional 3
                                                                       SIK Volume job verification in Regional 3
             4.      035/ST-IAD/V/2023                                 General Audit Periode Pemeriksaan Sept 2022 – Mei 2023 di Kenambui Estate
                                                                       General Audit Inspection Period Sept 2022 – May 2023 at Kenambui Estate
             5.      041/ST-IAD/VI/2023                                General Audit Periode Pemeriksaan Jan 2022 – Jun 2023 di CWS Sulung
                                                                       General Audit Examination Period Jan 2022 – Jun 2023 at CWS Inaugural
             6.      052/ST-IAD/VIII/2023                              General Audit di Dept. Marketing
                                                                       General Audit at Marketing Dept
             7.      065/ST-IAD/IX/2023                                Special Audit Panen di Umpang Estate
                                                                       Special Audit of yields at Umpang Estate
             8.      075/ST-IAD/X/2023                                 General Audit Periode Pemeriksaan Sept 2022 – Nov 2023 di Badirih Estate
                                                                       General Audit Examination Period Sept 2022 – Nov 2023 at Badirih Estate
             9.      080/ST-IAD/XI/2023                                Pemeriksaan Transaksi Utang / AP SSMS Group
                                                                       Debt Transaction Examination / AP SSMS Group
            10.      085/ST-IAD/XII/2023                               Special Audit Produksi di Afdeling Echo Kanamit Estate
                                                                       Special Audit of Production at Afdeling Echo Kanamit Estate



        Jumlah Konsultasi
        Number of Consultations

                                                                                         Judul Konsultasi
            No
                                                                                       Consultation Subject
            1.      Perbaikan sistem internal kontrol pelaksanaan sistem panen PMMP
                    Improvement of the internal system of control of the implementation of the PMMP harvesting system
            2.      Perbaikan sistem internal kontrol sistem finger print
                    Repair of the internal control system of the finger print system
            3.      Partisipasi dalam perbaikan / review SOP Uang Muka Kerja (UMK)
                    Participation in the improvement / review of SOP for Down Payment (UMK)


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SISTEM PENGENDALIAN INTERNAL
INTERNAL CONTROL SYSTEM




Sistem pengendalian internal merupakan mekanisme dan proses      The internal control system is a mechanism and process involving
yang melibatkan Direksi, anggota manajemen, seluruh personel     BOD, members of the management, and all personnel in the
di Perusahaan untuk memberikan keyakinan atas pencapaian         Company in providing assurance to achieve the Company’s goals
operasional Perusahaan, pelaporan keuangan yang andal, serta     in terms of operations, reliable financial reports, and compliance
kepatuhan terhadap prosedur dan peraturan berlaku.               with applicable procedures and regulations.


Sistem pengendalian internal yang efektif menjadi dasar yang     An effective internal control system serves as a strong basis for
kuat bagi kegiatan operasional Perusahaan yang sehat dan aman,   sound and safe business operations, preventing failure to achieve
mencegah kegagalan pencapaian tujuan, menghasilkan laporan       goals, producing reliable financial reports, and ensuring that the
keuangan terpercaya, serta memastikan kegiatan Perusahaan        Company’s activities comply with laws and regulations while also
patuh pada aturan dan hukum. Juga, memberikan informasi untuk    providing information for evaluating the Company’s performance.
penilaian kinerja Perusahaan.


Selaras dengan Pedoman GCG yang dimiliki, SSMS terus             In line with the owned GCG Guidelines, SSMS continues to strive
mengupayakan pengembangan sistem pengendalian internal           for the development of an internal control system by adhering
dengan mengacu kepada kerangka Sistem Pengendalian Internal      to the globally recognized Internal Control System framework
yang diakui secara global yang diterbitkan oleh The Committee    issued by The Committee of Sponsoring Organizations (COSO),
of Sponsoring Organization (COSO), dimana penerapan sistem       where implementation of internal control system involves Board
pengendalian internal melibatkan Dewan Komisaris, Direksi, dan   of Commissioners, Directors and executive officers.
pejabat eksekutif.




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       KESESUAIAN  SISTEM                PENGENDALIAN          INTERNAL        CONFORMITY BETWEEN INTERNAL CONTROL SYSTEM
       DENGAN COSO                                                             AND COSO

       Menurut COSO, tujuan pengendalian internal meliputi tujuan              According to COSO, internal control objectives include
       operasional, tujuan pelaporan, dan tujuan kepatuhan. Tujuan             operational objectives, reporting objectives, and compliance
       operasional berkaitan dengan efektivitas efisisiensi operasi.           objectives. Operational objectives related to the effectiveness of
       Tujuan pelaporan berkaitan dengan kepentingan pelaporan                 operating efficiency. Reporting objectives relate to the interests
       keuangan yang memenuhi kriteria, andal, tepat waktu, transparan         of financial reporting that meet the criteria, are reliable, timely,
       dan persyaratan lain yang ditetapkan oleh regulator maupun              and transparent and other requirements set by the regulators
       Perusahaan. Sedangkan tujuan kepatuhan berkaitan dengan                 and Company. Meanwhile, the purpose of compliance relates to
       kepatuhan Perusahaan kepada hukum dan peraturan perundang-              Company’s compliance with laws and regulations.
       undangan.


       Unsur-unsur pengendaian internal, menurut COSO, meliputi                The elements of internal control, according to COSO, include the
       komponen-komponen sebagai berikut:                                      following components:


       1.   Lingkungan pengendalian;                                           1.   Control environment;
       2.   Penilaian risiko;                                                  2.   Risk assessment;
       3.   Kegiatan pengendalian;                                             3.   Control activities;
       4.   Informasi dan komunikasi;                                          4.   Information and communication;
       5.   Kegiatan pemonitoran.                                              5.   Monitoring activities.


       Sementara    itu,   Dalam      penerapannya,     Perseroan              Meanwhile, in practice, Company implements 5 (five) components
       mengimplementasikan 5 (lima) komponen yang sejalan dengan               that are in line with COSO, namely:
       COSO, yaitu:


       1.   Pengawasan oleh manajemen dan budaya pengendalian.                 1.   Supervision by management and control culture.
       2.   Identifikasi dan penilaian risiko.                                 2.   Risk identification and assessment.
       3.   Kegiatan pengendalian dan pemisahan fungsi.                        3.   Control activities and segregation of functions.
       4.   Sistem akuntansi, informasi, dan komunikasi                        4.   Accounting, information and communication systems.
       5.   Kegiatan pemantauan dan tindakan koreksi penyimpangan/             5.   Monitoring activities and actions to correct deviations/
            kelemahan.                                                              weaknesses.


       Sistem Pengendalian Internal yang diterapkan Perseroan meliputi         Internal Control System implemented by Company includes
       metode dan perangkat yang dikoordinasikan dan digunakan                 methods and tools that are coordinated and used in checking
       dalam pemeriksaan ketelitian dan kebenaran data akuntasi,               the accuracy and correctness of accounting data, increasing
       meningkatkan efisiensi maupun kepatuhan terhadap kebijakan              efficiency and compliance with established management policies.
       manajemen yang telah ditetapkan. Dalam hal ini, Komite Audit            In this case, Company’s Audit Committee is tasked with monitoring
       Perseroan ditugaskan untuk memantau dan mengkaji kecukupan              and reviewing the adequacy of internal control implementation to
       penerapan pengendalian internal guna memastikan efektivitas             ensure the effectiveness of its
       pelaksanaannya di lingkungan perusahaan.                                implementation within Company.


       Terkait tugas tersebut, Komite Audit melaksanakan sejumlah              Related to this task, Audit Committee carries out a
       aktivitas yang meliputi:                                                number of activities which include:


       1.   Analisis atas setiap risiko korporasi dan pelaksanaan              1.   Analysis of every corporate risk and implementation of risk
            manajemen risiko oleh Direksi;                                          management by Board of Directors;
       2.   Evaluasi Rencana Kerja dan pelaksanaan audit internal;             2.   Evaluation of work plans and implementation of internal
                                                                                    audits;
       3.   Pengkajian atas status pelaksanaan rekomendasi yang                3.   Assessment of implementation status of significant
            signifikan mengenai pengendalian internal yang disampaikan              recommendations regarding internal control submitted by
            auditor internal dan eksternal;                                         internal and external auditors;
       4.   Penelaahan informasi keuangan yang akan dipublikasikan             4.   Review of financial information that will be published
            oleh Perseroan, yakni antara lain laporan keuangan, proyeksi            by Company, which includes financial reports, financial
            keuangan, dan informasi keuangan lainnya melalui kegiatan-              projections and other financial information through the
            kegiatan berikut ini:                                                   following activities:
            i. Menelaah laporan keuangan interim untuk memastikan                   i. Review the interim financial reports to ensure that they are
                laporan tersebut sudah wajar, mencerminkan hasil bisnis                 reasonable, reflect real business results, and significant
                yang nyata, dan fluktuasi yang signifikan, jika ada, selaras            fluctuations, if any, in line with general industry and
                dengan kondisi industri dan perekonomian secara umum;                   economic conditions;



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     ii.  Memahami isu-isu signifikan yang berkaitan dengan                ii.  Understand significant issues related to reporting
          pelaporan dan akutansi, termasuk peraturan dan                        and accounting, including the latest regulations and
          pernyataan terbaru dari ahli/profesional yang dapat                   statements from experts/professionals that can be
          diterapkan di Perseroan, dan secara material dapat                    applied in Company, and can materially affect the financial
          mempengaruhi laporan keuangan;                                        statements;
     iii. Melakukan penelaahan untuk memastikan auditor                    iii. Conduct a review to ensure that the external auditor carries
          eksternal melaksanakan pemeriksaan yang memadai                       out adequate audits through the following mechanisms:
          melalui mekanisme berikut:
          a. Menelaah ruang lingkup pekerjaan audit, termasuk                    a Reviewing the scope of audit work, including staffing,
              staffing, jadwal, dan lingkup pengujian; serta                       schedule, and scope of testing; and
          b. Memantau untuk memastikan pemeriksaan telah                       b Monitor to ensure audits have been carried out
              dilakukan dengan objektif, sesuai standar audit yang                 objectively, in accordance with applicable auditing
              berlaku.                                                             standards.
     iv. Menelaah kepatuhan Perseroan terhadap peraturan                   iv. Examine Company’s compliance with capital market laws
          perundang-undangan pasar modal dan peraturan                         and regulations and other laws and regulations that apply
          perundang-undangan lain yang berlaku serta memiliki                  and have an impact on Company’s activities, through the
          dampak pada kegiatan Perseroan, melalui tindakan                     following actions:
          berikut ini:
          a. Memahami peraturan perundang-undangan yang                          a   Understand laws and regulations that have a significant
              memiliki dampak signifikan pada kegiatan Perseroan,                    impact on Company’s activities, reviewing systems
              menelaah sistem dan prosedur untuk memastikan                          and procedures to ensure Company’s compliance
              kepatuhan Perseroan terhadap peraturan perundang-                      with applicable laws and regulations;
              undangan yang berlaku;
          b. Menelaah isu hukum dan peraturan yang dilaporkan                    b   Review legal and regulatory issues reported by
              oleh Penasihat Hukum Perusahaan, Auditor Eksternal,                    Company’s Legal Counsel, External Auditor, Internal
              Auditor Internal, dan Divisi Hubungan Investor, serta                  Auditor, and Investor Relations Division, as well as
              isu-isu yang dipublikasikan pada surat kabar atau                      issues published in newspapers or other media.
              media lainnya.
5.   Melakukan penelaahan dan melaporkan kepada Dewan                 5.   Review and report to Board of Commissioners regarding
     Komisaris terkait pengaduan yang diterima soal perusahaan,            complaints received about Company, and then submit
     serta kemudian menyampaikan rekomendasinya pada Dewan                 recommendations to Board of Commissioners, in terms of
     Komisaris, dalam hal pelaksanaan tata kelola perusahaan yang          implementing good corporate governance and reviewing
     baik dan melakukan peninjuan atas pelaksanaan tanggung                implementation of responsibilities in relation to the
     jawab sehubungan dengan pengelolaan pencatatan                        management of financial records, internal audit systems,
     keuangan, sistem internal audit, laporan eksternal, fungsi            reports external, external audit function, and the process of
     audit eksternal, dan proses kegiatan usaha Perseroan serta            Company’s business activities as well as compliance with laws
     kepatuhan erhadap hukum dan kebijakan perusahaan serta                and company policies and applicable laws and regulations.
     perundangundangan yang berlaku.



TINJAUAN ATAS EFEKTIVITAS SISTEM PENGENDALIAN                         REVIEW OF THE EFFECTIVENESS OF THE INTERNAL
INTERNAL                                                              CONTROL SYSTEM

Pada tahun 2023, Audit Internal Perusahaan telah melaksanakan         In 2023, the Company’s Internal Audit carried out an Internal
Evaluasi Pengendalian Internal yang mencakup audit operasional.       Control Evaluation, which includes operational audits.


Evaluasi Pengendalian Internal yang diadakan setiap tahun ini         The Internal Control Evaluation, which is held annually, also
melibatkan Direksi dan Dewan Komisaris. Berdasarkan hasil             involves the Board of Directors and the Board of Commissioners.
evaluasi Direksi dan Dewan Komisaris, sistem pengendalian             Based on the evaluation results of the Board of Directors and Board
internal di Perseroan dinyatakan telah berjalan dengan efektif. Hal   of Commissioners, the internal control system in the Company
ini ditunjukan dengan diterimanya laporan auditor Independen          is declared to have performed effectively. This is shown by the
wajar dan tanpa pengecualian oleh auditor eksternal. Dengan           receipt of a fair and unqualified independent auditor’s report by the
demikian, Sistem Pengendalian Internal Perseroan telah                external auditor. As such, the Company’s Internal Control System
memberikan keyakinan yang memadai kepada manajemen,                   has provided adequate confidence to management, shareholders
shareholders dan stakeholders bahwa tujuan dan kelangsungan           and stakeholders that the Company’s business objectives and
usaha Perusahaan dapat dicapai. Ke depan, diharapkan Sistem           continuity can be achieved. In the future, it is expected that the
Pengendalian Internal Perusahaan dapat ditingkatkan.                  Company’s Internal Control System can be improved.




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       PERNYATAAN KECUKUPAN PENGENDALIAN INTERNAL                           STATEMENT OF ADEQUACY OF INTERNAL CONTROL

       Direksi dan Dewan Komisaris berkomitmen untuk memastikan             The Board of Directors and Board of Commissioners are
       bahwa Tata Kelola Perusahaan dijalankan dengan baik sebagai          committed to ensuring that Corporate Governance is carried
       dasar pencapaian visi dan misi Perusahaan. Salah satu implementasi   out properly as the basis for achieving the Company’s vision
       Tata Kelola Perusahaan yang baik adalah memastikan bahwa             and mission. One of the implementations of Good Corporate
       sistem pengendalian internal telah dilaksanakan secara               Governance is to ensure that the internal control system has been
       memadai. Direksi bertanggung jawab untuk menerapkan sistem           implemented adequately. The Board of Directors is responsible
       pengendalian intern yang baik untuk mencapai tujuan Perusahaan.      for implementing a good internal control system to achieve the
       Dewan Komisaris dengan dibantu oleh Komite Audit bertanggung         Company’s objectives. The Board of Commissioners, assisted by
       jawab untuk melakukan pengawasan dalam rangka memastikan             the Audit Committee, is responsible for conducting supervision in
       terselenggaranya pengendalian intern secara umum, termasuk           order to ensure the implementation of internal control in general,
       kebijakan Direksi yang menetapkan pengendalian internal              including the Board of Directors’ policies that stipulate such
       tersebut. Sistem pengendalian intern dirancang untuk mengelola       internal control. Internal control systems are designed to properly
       dan mengendalikan risiko dengan baik. Pernyataan pengendalian        manage and control risk. This internal control statement describes
       intern ini menggambarkan setiap kegiatan dan transaksi               every activity and transaction of the Company carried out based on
       Perusahaan dilaksanakan berdasarkan pengendalian internal            adequate internal control including operational activities enacted
       yang memadai meliputi kegiatan operasional dijalankan secara         effectively and efficiently, correct, complete and timely financial
       efektif dan efisien, laporan keuangan dan laporan manajemen          statements and management reports, as well as compliance with
       yang benar, lengkap dan tepat waktu, serta kepatuhan terhadap        prevailing laws and regulations.
       Undang-undang dan peraturan yang berlaku.




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AUDITOR EKSTERNAL
EXTERNAL AUDITOR

Berdasarkan RUPS Tahunan yang diselenggarakan pada 8 Mei           Based on the Annual GMS held on May 8, 2023, the Company has
2023, Perseroan telah memutuskan kriteria dan batasan dalam        stipulated the criteria and limitations in appointing the services of
menunjuk jasa Kantor Akuntan Publik (KAP), yaitu:                  a Public Accountant Firm (KAP), as follows:


1.   Mempunyai reputasi internasional (termasuk Akuntan Publik     1.   Have an international reputation (including Registered Public
     Terdaftar yang tergabung dalam Kantor Akuntan Publik               Accountants who are members of the Registered Public
     Terdaftar tersebut);                                               Accountant Firm);
2.   Terdaftar sebagai Auditor IKNB (Industri Keuangan Non-Bank)   2.   Registered as an IKNB (Non-Bank Financial Industry) Auditor
     di Otoritas Jasa Keuangan; dan                                     at the Financial Services Authority; and
3.   Profesional dan memiliki pengalaman sebagai Akuntan Publik    3.   Professional and has experience as a Public Accountant and/
     dan/atau Kantor Akuntan Publik di perusahaan terbuka.              or Public Accounting Firm in a public company.
4.   Syarat dan ketentuan lainnya yang dianggap baik oleh Dewan    4.   Other terms and conditions deemed good by the Company’s
     Komisaris Perseroan dengan memperhatikan masukan dan               Board of Commissioners by taking into account the input and
     pertimbangan dari Komite Audit Perseroan.                          consideration from the Company’s Audit Committee.


Atas dasar tersebut, Perseroan memutuskan menggunakan jasa         On this basis, the Company decided to use the services of Public
Kantor Akuntan Publik (KAP) Ernst & Young (EY) dengan Akuntan      Accounting Firm (KAP) Ernst & Young (EY) with Public Accountants
Publik (Signing Partner) yaitu Agung Purwanto, Sungkoro & Surja    (Signing Partners), namely Agung Purwanto, Sungkoro & Surja, to
untuk melakukan audit terhadap laporan keuangan konsolidasian      audit the consolidated financial statements of the Company and
Perseroan dan entitas anaknya tanggal 31 Desember 2023 dan         its subsidiaries dated December 31, 2023, and for the year ended
untuk tahun yang berakhir pada tanggal tersebut.                   on that date.



LINGKUP JASA YANG DIBERIKAN                                        SCOPE OF SERVICES PROVIDED

Lingkup jasa yang diberikan KAP mencakup:                          The scope of services provided by KAP includes:


1.   Jasa Audit limited review Tengah tahun 2023                   1.   Audit Services Limited review Mid-year 2023
2.   Jasa Audit satu tahun 2023                                    2.   Audit Services one year 2023



JASA LAIN YANG DIBERIKAN AKUNTAN SELAIN JASA                       OTHER SERVICES PROVIDED BY ACCOUNTANTS OTHER
AUDIT LAPORAN KEUANGAN TAHUNAN                                     THAN ANNUAL FINANCIAL STATEMENT AUDIT SERVICES

Pihak yang ditunjuk Perseroan sebagai Kantor Akuntan Publik        The party appointed by the Company as a Public Accounting Firm
tidak memberikan jasa lain selain lingkup audit sebagaimana        does not provide services other than the scope of the audit as
tersebut di atas.                                                  mentioned above.




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       MANAJEMEN RISIKO
       RISK MANAGEMENT

       Perseroan menerapkan prinsip-prinsip manajemen risiko               The Company implements risk management principles to manage
       untuk mengelola semua risiko yang dihadapi dan memastikan           all risks faced and convince the business growth and sustainability
       pertumbuhan bisnis dan keberlanjutan dapat tercapai sesuai          can be achieved in accordance with the Company’s vision and
       dengan visi misi yang ditetapkan. Pengelolaan risiko Perseroan      mission. The Company manages risks in a systematic, structures
       dilakukan secara sistematis, terstruktur, dan tepat waktu           and timely manner based on its risk management policies.
       berdasarkan kebijakan manajemen risiko yang dimiliki.


       Kebijakan manajemen risiko Perseroan mengacu pada prinsip           The Company’s risk management policy refers to the prudent
       kehati-hatian, dimana Perseroan senantiasa memantau risiko          principles, where the Company strives to monitoring the risk
       dalam setiap kegiatan usahanya. Dengan demikian, Perseroan          in its business activities. Thus, the Company believes that risk
       yakin bahwa manajemen risiko telah terintegrasi ke dalam proses     management has been integrated into the managed business
       bisnis yang dikelola. Perseroan juga mengembangkan budaya           processes. The Company also develops a risk awareness culture
       sadar risiko dengan melibatkan seluruh karyawannya dalam            by encouraging all employees to carry out risk management so
       menjalankan manajemen risiko agar seluruh karyawan dapat            that all employees can contribute to managing risks and provide
       memberikan kontribusi dalam mengelola risiko dan memberikan         useful input for achieving the Company’s goals.
       masukan yang berguna untuk pencapaian tujuan Perusahaan.


       Gambaran Umum                                                       General Overview

       Perseroan menerapkan Sistem Manajemen Risiko untuk                  Company implements a Risk Management System
       memitigasi dan menangani berbagai risiko inheren maupun             to mitigate and handle various inherent and external risks faced
       eksteren yang dihadapi Perseroan dalam melakukan usahanya.          by Company in conducting its business. Management or risk
       Pengelolaan atau manajemen risiko diselenggarakan sebagai           management is carried out as an effort to avoid or minimize the
       upaya untuk menghindari atau meminimalisasi dampak yang akan        impact that will occur on Company from various risks that may
       terjadi pada Perseroan dari berbagai risiko yang mungkin timbul.    arise.
       Perseroan telah merancang dan menerapkan sistem manajemen           Company has designed and implemented a comprehensive and
       risiko yang komprehensif dan terintegrasi di seluruh lini bisnis.   integrated risk management system across all business lines.
       Langkah ini dilakukan Manajemen sebagai upaya dalam                 This step was taken by Management as an effort to protect and
       melindungi dan meningkatkan nilai perusahaan bagi para              increase corporate value for stakeholders. As part of the risk
       pemangku kepentingan. Sebagai bagian dari upaya mitigasi            mitigation effort, Company’s Management always supervises
       risiko, Manajemen Perseroan senantiasa mengawasi pengelolaan        risk management to ensure that its implementation is running
       risiko untuk memastikan penerapannya telah berjalan efektif,        effectively and conducts a review of existing risks in order to make
       dan melakukan penelaahan atas risiko yang ada guna membuat          a policy to be decided. Implementation of risk management with
       kebijakan yang hendak diputuskan. Penerapan manajemen risiko        adequate internal control is believed to guide Company to achieve
       dengan pengendalian internal yang memadai, diyakini akan            business continuity, and to be able to produce quality products to
       membimbing perusahaan mencapai kesinambungan usaha, dan             meet the needs of society and company management.
       mampu menghasilkan produk yang berkualitas untuk memenuhi
       kebutuhan masyarakat maupun manajerial perusahaan.


       Secara berkala, Perseroan melakukan evaluasi dan penyempurnaan      Periodically, Company evaluates and improves implementation of
       atas implementasi manajemen risiko yang dilakukan. Kebijakan ini    risk management. This policy is carried out so that the application
       dilakukan agar penerapan manajemen risiko tetap sesuai dengan       of risk management remains in accordance with current conditions
       kondisi saat ini sehingga dapat menghindari terjadinya kerugian     so as to avoid losses to Company. Implementation of Company’s
       pada Perseroan. Dalam pelaksanaan Sistem Manajemen Risiko           Risk Management System in 2023 will be carried out by the Head
       Perseroan pada tahun 2023 dilakukan oleh Kepala Departemen          of the Risk Management Department, as the executor of SSMS
       Manajemen Risiko, sebagai pelaksana Manajemen Risiko SSMS.          Risk Management.


       Pada pelaksanaannya, Perseroan juga terus berupaya                  In practice, Company also continues to strive to improve the risk
       meningkatkan budaya risiko pada setiap lini bisnis dan level        culture at every line of business and employee level. Company
       karyawan. Perseroan senantiasa melakukan edukasi dan                always conducts education and socialization of risk management
       sosialisasi budaya manajemen risikokepada seluruh karyawan.         culture to all employees. This effort is made so that employees
       Upaya ini dilakukan agarkaryawan memiliki pemahaman yang            have adequate understanding regarding the risk identification
       memadai terkaitproses identifikasi risiko, apabila terdapat         process, if there is an identified risk, employees can report it to the
       risikoyangteridentifikasi, karyawan dapat melaporkannyakepada       unit responsible for risk management, so that risk mitigation can
       unit yang bertanggung jawab terhadap pengelolaan risiko,            be carried out as early as possible.
       sehingga dapat dilakukan mitigas irisiko sedini mungkin.



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RISIKO UTAMA YANG DIHADAPI DAN MITIGASI                                               MAIN RISKS AND ITS MITIGATIONS

Perseroan telah mengidentifikasi dan memetakan seluruh risiko                         The Company has identified and mapped all of the Company’s
dan menentukan risiko-risiko yang berpengaruh signifikan                              risks and determines the risks that have a significant effect on
terhadap Perseroan. Risiko-risiko ini kemudian dianalisis dan                         the Company. These risks are then analysed, and strategies are
disusun strategi-strategi untuk memitigasinya. Berikut profil risiko                  developed to mitigate them. Here is the Company’s main risk
utama Perseroan di tahun 2023:                                                        profile in 2023:


                                  Jenis Risiko                                                                      Mitigasi Risiko
                                 Types of Risk                                                                      Risk Mitigation


                                                                       RISIKO KEUANGAN
                                                                        FINANCIAL RISK
                                                                     Risiko Mata Uang Asing
                                                                      Foreign Currency Risk
Perseroan dan entitas anaknya menghadapi risiko nilai tukar mata                    Walaupun, Perseroan tidak memiliki kebijakan formal lindung nilai
uang asing karena transaksi penjualan dan biaya beberapa pembelian                  sehubungan dengan eksposur valuta asing, namun Perseroan secara
menggunakan mata uang asing (terutama Dolar AS) atau harga yang                     berkelanjutan memantau ekposur terhadap risiko nilai tukar guna
secara signifikan dipengaruhi oleh perubahan nilai kurs mata uang asing.            meminimalisir dampak risikonya terhadap keuangan dan operasional
Perubahan nilai tukar mata uang asing dapat berdampak pada keuangan                 perusahaan.
dan operasional perseroan yang menggunakan mata uang rupiah dalam
pelaporan keuangannya.                                                              Although, the Company does not have a formal hedging policy to address
                                                                                    foreign exchange exposure, the Company continuously monitors exposure
The Company and its subsidiaries face foreign exchange risk due to sales            to exchange rate risk in order to minimize the impact of the risk to the
transactions and the cost of some purchases in foreign denominated                  company’s finance and operations.
currencies (especially U.S. Dollars) or prices that are significantly affected by
changes in foreign exchange rates. Changes in foreign exchange rates may
affect the company’s finance and operations using rupiah as its currency in
its financial reporting.


                                                                     Risiko Harga Komoditas
                                                                      Commodity Price Risk
Perseroan dan entitas anaknya memiliki ekspos risiko harga komoditas                Perseroan belum memiliki kebijakan formal terkait lindung nilai
yang dipengaruhi oleh faktor seperti cuaca, kebijakan pemerintah, tingkat           sehubungan dengan eksposur risiko harga komoditas. Upaya mitigasi yang
permintaan dan penawaran pasar, tingkat produksi dunia, dan lingkungan              dilakukan Perseroan ialah memantau harga komoditas senantiasa secara
ekonomi global. Dampak dari risiko tersebut munculterutama dari aktivitas           berkelanjutan, sehingga Manajemen dapat mengambil keputusan dengan
penjualan produk kelapa sawit, di mana marjin laba atas penjualan produk            cepat dan tepat saat terjadi gejolak harga di pasar komoditas global.
kelapa sawit tersebut terpengaruh fluktuasi harga pasar internasional.
                                                                                    The Company does not yet have a formal hedging policy against commodity
The Company and its subsidiaries are exposed to commodity price risk                price risk exposure. The Company’s mitigation effort in that case is to
influenced by factors, such as weather, government policy, market demand            monitor commodity prices in consistent manner, so that management can
and supply levels, world production, and the global economic environment.           make decisions quickly and appropriately at the time of price turmoil in
The impacts of these risks emerge primarily from the sales of palm oil              global commodity markets.
products, where the profit margin on the sale of palm oil products is
affected by price fluctuation in international market.


                                                                      Risiko Tingkat Bunga
                                                                        Interest Rate Risk
Perseroan dan entitas anaknya memiliki ekspos risiko tingkat suku bunga             Dalam mencari alternatif sumber pendanaan, Perseroan memilih opsi
terkait sumber pendanaan.                                                           pendanaan yang menawarkan tingkat suku bunga yang murah dan
                                                                                    bersaing.
The Company and its subsidiaries are exposed to interest rate risk relating
to funding sources.                                                                 In seeking alternative sources of funding, the Company chooses funding
                                                                                    options that offer low and competitive interest rates.


                                                                           Risiko Kredit
                                                                            Credit Risk
Perseroan dan entitas anaknya terekspos risiko kredit yang dapat timbul             Perseroan telah menerapkan kebijakan ketat, yakni hanya memperbolehkan
karena Perseroan memiliki piutang dagang.                                           transaksi piutang dengan pihak ketiga yang sudah jelas kredibilitas dan
                                                                                    reputasinya.
The Company and its subsidiaries are exposed to credible risks that may
arise since the Company has trade receivables.                                      The Company has applied a strict policy, which only allows receivables
                                                                                    transactions with third parties that have clear credibility and reputation.




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                                          Jenis Risiko                                                                   Mitigasi Risiko
                                         Types of Risk                                                                   Risk Mitigation
                                                                                 Risiko Likuiditas
                                                                                  Liquidity Risk
        Perseroan dan entitas anaknya menghadapi potensi risiko likuiditas                Perseroan senantiasa berupaya menjaga kecukupan cadangan, fasilitas
        yang muncul dalam upayanya memenuhi liabilitas keuangan karena                    bank, dan pinjaman dengan memonitor proyeksi dan aktual arus kas, serta
        tidak terdapat dana yang mencukupi untuk memenuhi seluruh kewajiban               memadukan jatuh tempo aset dan liabilitas keuangan.
        keuangan perusahaan.
                                                                                          The Company continuously strives to maintain adequate reserves, bank
        The Company and its subsidiaries face potential liquidity risk due to             facilities, and loans by monitoring projected and actual cash flows, as well
        obligation to financial liabilities because there are not sufficient funds to     as combining maturity of financial assets and liabilities.
        meet all of the company’s financial obligations.


                                                                              RISIKO OPERASIONAL
                                                                               OPERATIONAL RISK
        Perseroan dan entitas anaknya menghadapi potensi risiko operasional          Perseroan mengambil kebijakan untuk menerapkan strategi penanaman
        terkait produksi yang ditimbulkan oleh faktor cuaca yang sebetulnya berada multi bibit untuk memperkaya karakteristik pohon dan tidak mengurangi
        di luar kendali Perseroan.                                                   kegiatan pemupukan sehingga produktivitas lahan dapat tetap
                                                                                     dipertahankan meskipun menghadapi faktor cuaca yang tidak menentu.
        The Company and its subsidiaries face potential operational risks related to
        production caused by weather, which is indeed beyond our control.            The Company adopted a policy for implementing a multi-seed planting
                                                                                     strategy to enrich the characteristics of trees and not reduce fertilization
                                                                                     activity to maintain land productivity despite weather uncertainty.
        Pengetatan Peraturan Lingkungan Hidup                                             Mengalihkan lahan yang tidak tertanam menjadi Kawasan Konservasi.
        Comply with Environmental Regulations                                             Converting unplanted land into Conservation Areas.
        Inflasi harga dan pasokan bahan baku                                              Memantau perkembangan harga pasar dan mengelola biaya produksi
        Inflation on price and raw material supply                                        sebaik mungkin.

                                                                                          Monitor the progress of market prices and manage production costs
                                                                                          properly.
        Penurunan Produktivitas Perusahaan                                                Memastikan pasokan bahan baku produksi terpenuhi agar produktivitas
        Decrease in the Company’s productivity                                            perusahaan dapat mencapai kapasitas maksimum.

                                                                                          Ensuring the supply of raw materials for production is met, thus the
                                                                                          company’s productivity may reach maximum capacity


                                                                                 RISIKO REPUTASI
                                                                                 REPUTATION RISK
        Perseroan dan entitas anaknya terekspos risiko pasar, yakni berupa tingkat        Dalam mengatasi risiko tersebut, Perseroan memberikan edukasi dan
        kepercayaan konsumen terkait adanya pemberitaan negatif industri kelapa           sosialisasi mengenai praktek keberlanjutan industri kelapa sawit yang sudah
        sawit.                                                                            dilakukan.

        The Company and its subsidiaries are exposed to market risk, namely the           To address those risks, the Company provides education and socialization
        level of consumer confidence due to the negative news surrounding the             on the applied sustainability practices of the palm oil industry
        palm oil industry.
        Persaingan dengan produsen minyak kelapa sawit                                    Meningkatkan strategi pemasaran, meningkatkan kualitas dan kuantitas
        Competition with palm oil producers.                                              produksi serta melakukan inovasi.

                                                                                          Improve in marketing strategies, production quality and quantity as well as
                                                                                          innovation.


                                                                                 RISIKO STRATEGI
                                                                                 STRATEGIC RISK
        Perseroan dan entitas anak menghadapi potensi risiko pelaksanaan yang             Perseroan senantiasa melakukan analisis terhadap segala aktivitas bisnisnya
        muncul sebagai akibat dari kegagalan untuk dapat menyelesaikan tepat              agar dapat mengidentifikasi dan mengurangi faktor yang berpotensi
        waktu, sesuai anggaran, atau mendapatkan manfaat sesuai dengan yang               menghambat pencapaian target bisnis yang ditetapkan.
        diharapkan dari pelaksanaan penanaman lahan baru, pengembangan
        usaha, pembangunan pabrik maupun infrsatruktur dan proyek lainnya.                The Company continuously analyzes all its business activities in order to
                                                                                          identify and reduce factors that have the potential to hamper the target
        The Company and its subsidiaries face potential implementation risk due           achievements.
        to the failure to complete on time, on budget, or earn benefits as expected
        from the planting of new land, business development, plant construction
        and other infrastructure and projects.




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                               Jenis Risiko                                                              Mitigasi Risiko
                              Types of Risk                                                              Risk Mitigation
                                                              RISIKO KEAMANAN KERJA
                                                                   RISIKO SAFETY
Perseroan dan entitas anak yang bergerak pada Perkebunan dan industri       Perseroan menerapkan sistem manajemen mutu termasuk didalamnya
pengolahan kelapa sawit menghadapi risiko kecelakaan kerja yang secara      pembuatan Standar Operasional Prosedur (SOP), Instruksi Kerja (IK), dan
langsung dapat mempengaruhi operasional Perusahaan baik kebun               penyediaan Alat Perlindungan Diri (APD) demi terciptanya keamanan kerja
maupun pabrik.                                                              bagi karyawan.

The Company and its subsidiaries which engaged in the palm oil plantations The Company implements the quality management system which includes
and processing industry face the risk of working accident which can directly creating Standard Operating Procedures (SOP), Work Instructions (IK) and
affect the Company’s operations, both in plantations and plants.             providing Personal Protective Equipment (PPE) to create work safety for
                                                                             employees


                                                              RISIKO KEBERLANJUTAN
                                                               SUSTAINABILITY RISK
Perseroan dan entitas anak yang bergerak pada Perkebunan dan industri      Perusahaan menerapkan komitmen dan strategi keberlanjutan yang
pengolahan kelapa sawit menghadapi risiko keberlanjutan.                   meliputi penerapan tata kelola berkelanjutan, SDM, lingkungan sosial,
                                                                           Rantai Pasokan, Produk, Pelanggan, Program sertifikasi kebun, program
The Company and its subsidiaries which engaged in the palm oil plantations konservasi, kelengkapan dokumen usaha dan Penyelesaian hak milik
and processing industry face the risk of sustainability.                   dengan warga setempat.

                                                                            The Company implements sustainability commitments and strategies which
                                                                            includes the implementation of sustainable governance, Human Resources,
                                                                            social environment, supply chain, products, customers, plantation
                                                                            certification programs, conservation programs, completness of business
                                                                            documents, and settlement the rights of indigenous people.




TINJAUAN ATAS EFEKTIVITAS SISTEM MANAJEMEN                                    REVIEW OF THE EFFECTIVENESS OF THE                                         RISK
RISIKO (RISK MATURITY LEVEL)                                                  MANAGEMENT SYSTEM (RISK MATURITY LEVEL)

Pengukuran Risk Maturity Level atau Tingkat Kematangan                        Risk Maturity Level measurement or Risk Management
Pengelolaan Risiko merupakan suatu proses untuk memastikan                    Maturity Level is a process to ensure the implementation of
penerapan manajemen risiko yang sudah dijalankan telah                        risk management is as planned. The company measures risk
sesuai dengan yang direncanakan. Perseroan mengukur Risk                      maturity level using enterprise risk management (ERM) and ISO
Maturity Level dengan menggunakan pendekatan Enterprise Risk                  31000 approaches, which are models used by several other large
Management (ERM) dan ISO 31000, dimana model ini merupakan                    companies.
model yang digunakan oleh beberapa Perusahaan besar lainnya.



Pengukuran Risk Maturity Level                                                Risk Maturity Level Measurement

Pengukuran risk maturity level menggunakan tabel matriks                      Risk maturity level measurement uses the following matrix table:
sebagai berikut:


                                                                                                                   Level of Impact
     Likelihood (That Occurrence Results in Adverse Impact)
                                                                     Negligible          Minor          Moderate           Significant           Severe
Very Likely                                                             Very Lo           Lo              Mod                  Hi                Very Hi
Likely                                                                  Very Lo           Lo              Mod                  Hi                Very Hi
Possible                                                                Very Lo           Lo              Mod                 Mod                   Hi
Unlikely                                                                Very Lo           Lo               Lo                  Lo                  Mod
Very Unlikely                                                           Very Lo         Very Lo          Very Lo               Lo                   Lo




                                                          Tingkat Risiko | Risk Level

  Very Lo       Very Low          Lo          Low              Mod        Moderate               Hi     High                 Very Hi        Very High




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        Dampak dan Kriteria
        Impact and Criteria

                    Tipe Dampak
         No.                                   Negligible                     Low                     Moderate                   Significant                  Severe
                   Types of Impact
          1    Financial                 Tidak ada kerugian         Kerugian Keuangan           Kerugian keuangan          Kerugian Besar             Kerugian sangat besar
                                         No loss                    Kecil                       cukup besar (sedang)       Significant Loss           Severe Loss
                                                                    Financial Loss in Minor     Financial Loss in
                                                                                                moderate
               Financial berdasarkan     0%                         0.1% ≥ kerugian < 0.5%      0.5% ≥ kerugian < 5%       5% ≥ kerugian < 10%        10% ≥ kerugian
               revenue                                              0.1% ≥ loss < 0.5%          0.5% ≥ loss < 5%           5% ≥ loss < 10%            10% ≥ loss
               Financial by Revenue
               Financial berdasarkan     0%                         0.2% ≥ kerugian < 1 %       1% ≥ kerugian < 10 %       10% ≥ kerugian < 20%       20% ≥ kerugian
               EBITDA                                               0.2% ≥ loss < 1 %           1% ≥ loss < 10 %           10% ≥ loss < 20%           20% ≥ loss
               Financial by EBITDA
               Financial berdasarkan     0%                         0.1% ≥ kerugian < 0.5%      0.5% ≥ kerugian < 5%       5% ≥ kerugian < 10%        10% ≥ kerugian
               Net Income                                           0.1% ≥ loss < 0.5%          0.5% ≥ loss < 5%           5% ≥ loss < 10%            10% ≥ loss
               Financial by Net
               Income
          2    Kepatuhan                 1. Denda < Rp 10 juta      1. Denda Rp 10 - 50         1. Denda > Rp 50 juta      1. Pejabat Senior          1. Direksi terkena
               Compliance                2. Keluhan dari               Juta                     2. Perusahaan di              terkena sanksi             sanksi administratif.
                                            stakeholder internal    2. Keluhan dari                investigasi aparat         administratif           2. Pemberhentian
                                                                       stakeholder                 berwenang               2. Terkena sanksi             operasional
                                         1. Fine < IDR 10 million      eksternal                                              kelembagaan                perusahaan
                                         2. Complaints                                          1. Fine > IDR 50 million                              1. The Board of
                                            from internal           1. Fine of IDR 10 – 50      2. The Company is          1. Senior officials           Directors are subject
                                            stakeholders               million                     under investigation        are subject to             to administrative
                                                                    2. Complaints                  by the authorities         administrative             sanctions
                                                                       from internal                                          sanctions               2. The Company
                                                                       stakeholders                                        2. The Company                is subject to
                                                                                                                              is subject to              operational
                                                                                                                              institutional              termination
                                                                                                                              sanctions
          3    Safety                    Tidak ada cidera           Cidera Ringan               Cidera sedang              Cidera berat yang          Menyebabkan
                                         Zero accident              Injuries                    hingga memerlukan          terjadi pada lebih dari    kematian hingga lebih
                                                                                                penanganan medis           1 orang                    dari 1 orang
                                                                                                Moderate Injuries          Serious injury that        Fatality to more than 1
                                                                                                that requires medical      occurs to more than 1      person
                                                                                                treatment                  person
               Operasional (Inti &       Bahaya sangat kecil,       Tidak menimbulkan           kegiatan perusahaan        Adanya gangguan            Mengganggu/
               Pendukung)                kegiatan perusahaan        dampak serius               terhenti melebihi          produksi dan kegiatan      terhentinya seluruh
               Operational (Core &       berhenti sejenak           terhadap                    periode minimal yang       perusahaan, kegiatan       proses kegiatan
               Supporting)               The danger is very         kelangsungan bisnis,        ditetapkan                 perusahaan terhenti        perusahaan lebih dari
                                         small, the Company’s       kegiatan perusahaan         The Company’s              dalam satu hari            1 hari
                                         activities quit for a      berhenti dalam              activities cease beyond    There was disruption       All company activities
                                         while                      periode minimal             the specified minimum      to the Company’s           are disrupted/stopped
                                                                    Has no a serious            period                     productions and            for more than 1 day
                                                                    impact to business                                     activities, which
                                                                    continuity, the                                        caused the Company’s
                                                                    Company’s activities                                   activities cease for
                                                                    quit for a certain period                              one day
          4    Operasional inti          Tidak ada gangguan         0 menit > gangguan          5 menit > gangguan         15 menit > gangguan        1 jam> gangguan
               Core Operations           No distractions            proses operasional Inti     proses operasional Inti    proses operasional Inti    proses operasional Inti
                                                                    ≤ 5 menit                   ≤ 15 menit                 ≤ 1 jam                    1 hour > disruption in
                                                                    0 minute > disruption in    5 minutes > disruption     15 minutes > disruption    core operation process
                                                                    core operation process      in core operation          in core operation
                                                                    ≤ 5 minutes                 process ≤ 15 minutes       process ≤ 1 hour
               Operasional               0 jam < gangguan           3 jam > gangguan            12 jam > gangguan          18 jam > gangguan          24 jam > gangguan
               Pendukung                 proses operasional         proses operasional          proses operasional         proses operasional         proses operasional
               Support Operations        pendukung ≤ 3 jam          pendukung ≤ 12 jam          pendukung ≤ 18 jam         pendukung ≤ 24 jam         pendukung
                                         0 hour > disruption in     3 hours > disruption in     12 hours > disruption in   18 hours > disruption in   24 hours > disruption in
                                         supporting operation       supporting operation        supporting operation       supporting operation       supporting operation
                                         process ≤ 3 hours          process ≤ 12 hours          process ≤ 18 hours         process ≤ 24 hours         process




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Dampak dan Kriteria
Impact and Criteria

          Tipe Dampak
 No.                             Negligible                   Low                     Moderate                 Significant                      Severe
         Types of Impact
  5    Reputasi            Kehilangan reputasi       Kehilangan reputasi       Kehilangan reputasi       Kehilangan reputasi          Kehilangan reputasi
       Reputation          atau timbulnya            atau timbulnya            atau timbulnya            atau timbulnya               atau timbulnya
                           publisitas buruk di       publisitas buruk di       publisitas buruk di       publisitas buruk di          publisitas buruk di
                           lingkungan internal       lingkungan internal       media lokal               media nasional               media nasional dan
                           perusahaan                perusahaan dan            Loss of reputation or     Loss of reputation or        tuntutan hukum
                           Loss of reputation or     pemegang saham            bad publicity arises in   bad publicity arises in      Loss of reputation or
                           bad publicity arises in   Loss of reputation or     local media               national media               bad publicity arises in
                           the company's internal    bad publicity arises in                                                          national media and get
                           environment               the company's internal                                                           lawsuits
                                                     environment and
                                                     shareholders




PERNYATAAN DIREKSI DAN/ATAU DEWAN KOMISARIS                                    STATEMENT OF THE BOARD OF DIRECTORS AND/OR
ATAU KOMITE AUDIT ATAS KECUKUPAN SISTEM                                        BOARD OF COMMISSIONERS OR AUDIT COMMITTEE ON
MANAJEMEN RISIKO                                                               THE ADEQUACY OF THE RISK MANAGEMENT SYSTEM

Direksi dan Dewan Komisaris melalui Komite Audit memberikan                    The Board of Directors and the Board of Commissioners, through
perhatian khusus terhadap jalannya sistem manajemen risiko                     the Audit Committee, paid special attention to the execution of
sehingga mengevaluasi sistem tersebut secara berkala setiap                    a risk management system, allowing for an annual examination
tahunnya. Berdasarkan hasil evaluasi tersebut, Direksi dan/atau                of the system. Based on the evaluation results, the Board of
Dewan Komisaris melalui Komite Audit menilai sistem manajemen                  Directors and/or the Board of Commissioners, through the Audit
risiko Perseroan telah berjalan dengan baik, sesuai dengan yang                Committee, determined that the Company’s risk management
ditetapkan. Direksi dan Dewan Komisaris berharap kinerja ini dapat             system operated as expected. The Board of Directors and the
terus dipertahankan sehingga kelangsungan usaha Perusahaan                     Board of Commissioners expect that this performance can be
dapat terus tercapai.                                                          sustained in order for the Company’s business continuity to be
                                                                               maintained.




PERKARA HUKUM
LEGAL CASES

Selama tahun 2023, Perseroan tidak menghadapi perkara hukum                    During 2023, the Company is not implicated in important legal
penting yang bersifat material bagi Perseroan yang melibatkan                  cases involving the Company, subsidiaries, members of the Board
Perseroan, entitas-entitas anak, anggota Direksi maupun anggota                of Directors, and members of the Board of Commissioners of the
Dewan Komisaris Perseroan.                                                     Company




SANKSI ADMINISTRATIF
ADMINISTRATIVE SANCTIONS

Selama tahun 2023, tidak terdapat sanksi administratif yang                    During 2023, there are no administrative sanctions of a material
bersifat material bagi Perseroan, yang dikenakan oleh pihak                    nature for the Company, imposed by regulators or authorities
regulator atau otoritas (Otoritas Jasa Keuangan, Bank Indonesia,               (Financial Services Authority, Bank Indonesia, Stock Exchange, and
Bursa Efek, dan otoritas lainnya) kepada Perseroan, entitas-                   other authorities) to the Company, subsidiaries, members of the
entitas anak, anggota Dewan Komisaris, dan anggota Direksi.                    Board of Commissioners, and members of the Board of Directors.




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       KODE ETIK
       CODE OF CONDUCTS




       Perseroan menyadari pentingnya kode etik sebagai bagian dari          The Company realizes the importance of code of conduct as part
       penerapan GCG yang dapat meningkatkan nilai dan pertumbuhan           of GCG implementation that can increase value and sustainable
       bisnis jangka panjang yang berkesinambungan. Kode Etik                long-term business growth. The Company’s Code of Conduct is a
       Perseroan adalah sekumpulan komitmen yang terdiri dari etika          set of commitments consisting of business ethics and work ethics
       usaha dan etika kerja yang disusun untuk mempengaruhi,                prepared to influence, form, regulate and control the suitability
       membentuk, mengatur dan mengendalikan kesesuaian tingkah              of the behaviour of the Company’s personnel in line with the
       laku personil Perseroan yang sejalan dengan budaya kerja              Company’s work culture so as to achieve the Company’s vision
       Perseroan sehingga tercapai visi dan misi Perseroan.                  and mission.


       Kode Etik Perseroan senantiasa disesuaikan dengan perkembangan        The Company’s Code of Conduct is constantly adjusted to the
       hukum, sosial, norma, peraturan dan perjalanan bisnis Perseroan.      development of the Company’s legal, social, norms, regulations,
       Perseroan memiliki Kode Etik yang berisi mengenai nilai-nilai etika   and business travel. The Company has a Code of Conduct which
       yang berlaku di lingkungan Perseroan.                                 contains ethical values that apply within the Company.


       Kode Etik Perseroan disusun berdasarkan 3 (tiga) pilar utama yakni    The Company’s Code of Conduct is compiled based on 3 (three)
       Profit (Ekonomi), People (Masyarakat), Planet (bumi/lingkungan).      main pillars namely Profit (Economy), People (Society), Planet
       Nilai-nilai Perseroan tersebut adalah:                                (earth/environment). Company’s values are:
       - Care for The Company                                                - Care for Company
       - Care for The People                                                 - Care for The People
       - Care to The Environment.                                            - Care to The Environment.
       - Care for The Country, Indonesia                                     - Care for The Country, Indonesia




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ISI KODE ETIK                                                       CONTENT OF THE CODE OF CONDUCT

Kode Etik merupakan komitmen yang terdiri dari etika usaha          The Code of Conduct is a commitment consisting of corporate
perusahaan dan etika perilaku setiap personil SSMS yang disusun     business ethics and behavioral ethics of each SSMS personnel
untuk mempengaruhi, membentuk, mengatur dan melakukan               which is prepared to influence, form, regulate and conform
kesesuaian perilaku berdasarkan prinsip-prinsip tata kelola         behavior based on the principles of good corporate governance
perusahaan yang baik sehingga tercapai keluaran yang konsisten      so as to achieve consistent output in accordance with the work
yang sesuai dengan budaya kerja dalam mencapai visi dan             culture in achieving its vision and mission.
misinya.


Secara garis besar isi Kode Etik SSMS antara lain mengatur:         Broadly speaking, the contents of the SSMS code of conduct
                                                                    include:
-   Benturan Kepentingan;
-   Pemberian dan Penerimaan Hadiah dan Donasi;                     -   Conflict of Interest;
-   Kepatuhan terhadap Peraturan;                                   -   Giving and Receiving Gifts and Donations;
-   Kerahasiaan Informasi.                                          -   Regulatory Compliance;
                                                                    -   Information Confidentiality.


Kode Etik Berlaku bagi Seluruh Level Organisasi                     Code of Ethics Applies to All Organizational Levels

Kode Etik berfungsi sebagai pedoman perilaku bagi seluruh           Code of Ethics serves as a guideline of behavior for all employees
pekerja dalam berinteraksi dengan pihak dalam dan pihak             in interacting with parties within and outside Company. The code
luar Perseroan. Kode etik berlaku untuk seluruh pekerja yang        of ethics applies to all employees who have a direct employment
mempunyai hubungan kerja langsung baik pekerja tetap maupun         relationship, both permanent and contract employees, including
kontrak, termasuk Direksi dan Dewan Komisaris. Seluruh pekerja      Board of Directors and Board of Commissioners. All employees
diharapkan untuk berperilaku sesuai nilai-nilai Perseroan dan       are expected to behave according to Company’s values and apply
menerapkan Kode Etik dalam kegiatan sehari-hari.                    the Code of Ethics in their daily activities.



SOSIALISASI KODE ETIK                                               SOCIALIZATION OF CODE OF CONDUCT

Perseroan secara berkesinambungan terus mensosialisasikan           For all employees to work and carry out tasks while promoting
isi kode Etik kepada seluruh karyawan sehingga para karyawan        the established values and rules, the company continuously
Perseroan dapat bekerja dan melaksanakan aktivitas dengan           educates them about the contents of the Code of Conduct. The
mengedepankan nilai-nilai dan peraturan yang telah ditetapkan.      code of conduct socialization aims to improve a comprehensive
Sosialisasi kode etik bertujuan untuk meningkatkan pemahaman        and consistent understanding for each employee from the first
yang menyeluruh dan konsisten bagi setiap karyawan sejak            time they enter the Company and can be accessed at any time
pertama kali masuk ke dalam Perseroan dan dapat mengakses           through the Company’s internal communication network. The
setiap saat melalui jaringan komunikasi internal Perseroan. Kode    code of conduct can serve as one of the work guidelines for each
etik dapat dijadikan salah satu pedoman dalam bekerja bagi setiap   employee, including sanctions for employees of the Company
karyawan, termasuk bentuk sanksi bagi karyawan Perseroan            who do not comply with the code of conduct. In 2023, the
yang tidak mematuhi kode etik. Di tahun 2023, Perseroan telah       Company conducted various socialization activities of the code of
melaksanakan berbagai kegiatan sosialisasi kode etik dalam          conduct in the form of training and internal socialization. training
bentuk pelatihan dan sosialisasi secara internal.                   and internal socialization.



SANKSI PELANGGARAN KODE ETIK                                        SANCTIONS FOR VIOLATION OF THE CODE OF CONDUCT

SSMS menerapkan konsekuensi-konsekuensi yang diberlakukan           SSMS applies the consequences imposed for violations of the
atas pelanggaran Kode Etik yang bentuk sanksinya disesuaikan        Code of Conduct where is the form of sanctions being adjusted to
dengan kebijakan dan peraturan perusahaan yang berlaku.             applicable company policies and regulations.


Selama tahun 2023, tidak terdapat pelanggaran atas Kode Etik        During 2023, there were no violations of the Company’s Code of
Perseroan dan sanksi diberikan kepada pegawai yang melanggar        Conduct and sanctions are given to employees who violate in
sesuai dengan peraturan yang berlaku.                               accordance with applicable regulations.




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       SISTEM PELAPORAN PELANGGARAN
       WHISTLEBLOWING SYSTEM

       Sistem pelaporan pelanggaran merupakan sistem yang dapat              Whistleblowing system is systems that can be used as media for
       dijadikan media bagi saksi pelapor untuk menyampaikan                 reporting witnesses to convey information about the violation acts
       informasi mengenai tindakan pelanggaran yang diindikasikan            that are indicated in companies that cannot be resolved through
       terjadi di Perusahaan yang tidak dapat terselesaikan melalui          normal procedures.
       prosedur normal.


       Pelaporan yang diperoleh dari mekanisme pelaporan pelanggaran         The reporting obtained from the mechanism for reporting
       (whistleblowing) ini perlu mendapatkan perhatian dan tindak lanjut,   violations (whistleblowing) needs to get attention and follow-up,
       termasuk juga pengenaan hukuman yang tepat agar memberikan            including by the appropriate sentencing to provide a deterrent
       efek jera bagi pelaku pelanggaran dan juga bagi mereka yang           effect or perpetrators of violations and also for those who intend
       berniat melakukan hal tersebut.                                       to do that.


       Perseroan sudah memiliki mekanisme penanganan pelanggaran             The Company has a mechanism for dealing with violations and/
       dan atau keluhan yang ditandatangani oleh Direktur Utama pada         or complaints signed by President Director on June 20, 2022,
       tanggal 20 Juni 2022 sebagai saluran pelaporan setiap indikasi        as a reporting channel for any indications of violations or fraud
       pelanggaran atau fraud yang dilakukan oleh insan Perseroan, baik      committed by the Company’s Personnel, both reporting by
       pelaporan oleh pihak internal maupun eksternal.                       internal and external parties.


       Tujuan dilaksanakannya Sistem Pelaporan Pelanggaran adalah            The purpose of the implementation of the Whistleblowing System
       sebagai berikut:                                                      of The Company is as follows:
       a. Sebagai dasar atau pedoman pelaksanaan dalam menangani             a. As a basis or guideline for implementation of handling reports
           pelaporan pelanggaran dari stakeholders.                              of violations from stakeholders.
       b. Sebagai saluran pelaporan hal-hal yang tidak dapat                 b. As a reporting channel formatter that cannot be completed
           diselesaikan melalui prosedur normal organisasi.                      through the normal procedures of the organization.
       c. Menjamin terselenggaranya mekanisme penyelesaian                   c. Ensuring the implementation of the mechanism for resolving
           pelaporan pelanggaran yang efektif dalam jangka waktu                 effective violations in an adequate period of time by
           memadai oleh stakeholders.                                            stakeholders.
       d. Menghindari publikasi negatif terhadap Perseroan.                  d. Preventing negative publications to the company.
       e. Mendukung asas kesetaraan (fairness) dalam hubungan                e. Supporting the principle of equality in the relations between
           antara Perseroan dengan stakeholders sebagai pelaku usaha             the Company and stakeholders as business actors and the
           dan mitra Perseroan.                                                  company’s partners.
       f. Sebagai salah satu upaya pengungkapan berbagai                     f. As a measure to disclose various problems in companies
           permasalahan dalam perusahaan yang tidak sesuai dengan                that are not in accordance with the ethical standards in the
           standar etika yang berlaku di Perusahaan.                             company.



       RUANG LINGKUP WHISTLEBLOWING SYSTEM                                   SCOPE OF WHISTLEBLOWING SYSTEM

       Ruang lingkup pelaporan dalam kebijakan sistem pelaporan              Scope of reporting in the Company’s whistleblowing system policy
       pelanggaran yang dimiliki Perseroan mencakup pelanggaran              is violations of actions or behavior that are not in accordance with
       atas perbuatan atau perilaku yang tidak sesuai dengan kebijakan,      the Company’s policies, ethics and values, resulting in material
       etika dan tata nilai Perseroan sehingga menyebabkan kerugian          and non-material losses, as follows:
       material maupun non-material sebagai berikut:
       a. Korupsi                                                            a.   Corruption
       b. Suap/Gratifikasi                                                   b.   Bribes/gratuities
       c. Pemerasan                                                          c.   Extortion
       d. Pencurian/penggelapan/penipuan                                     d.   Theft/embezzlement/fraud
       e. Penyalahgunaan jabatan/kewenangan                                  e.   Misuse of position/authority
       f. Pelanggaran terhadap peraturan Perseroan                           f.   Violation of company regulations


       PIHAK YANG MENGELOLA WHISTLEBLOWING SYSTEM                            WHISTLEBLOWING SYSTEM MANAGEMENT HANDLERS

       Pengelolaan WBS Perseroan sepenuhnya berada di bawah                  The management of Company’s WBS is fully under responsibility
       tanggung jawab Unit Audit Internal yang bertanggung jawab             of Internal Audit Unit which reports directly to President Director,
       langsung kepada Direktur Utama, dan pengawasannya dilakukan           and supervision is carried out by Board of Commissioners through
       oleh Dewan Komisaris melalui Komite Audit.                            Audit Committee.



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MEDIA PENYAMPAIAN PENGADUAN                                         COMPLAINT CHANNEL MEDIA

Masyarakat dapat menyampaikan laporannya melalui email:             The public are able submit their reports by email: pengaduan@
pengaduan@ssms.co.id                                                ssms.co.id



PENANGANAN PENGADUAN                                                THE HANDLING OF COMPLAINTS

Setiap laporan pengaduan atas tindakan pelanggaran yang             Every complaint report on incoming violations will be processed
masuk akan diproses dan ditelaah oleh pihak terkait. Selain dapat   and reviewed by the relevant party. In addition to report through
melapor melalui pihak yang telah ditugaskan, para pelapor juga      the assigned party, reporters can also submit their complaints
dapat menyampaikan aduannya secara langsung kepada Direksi          directly to Board of Directors or key management of Company so
ataupun manajemen kunci Perseroan agar proses investigasi           that the investigation process can be carried out.
dapat dilakukan.



PERLINDUNGAN BAGI PELAPOR                                           WHISTLE BLOWERS’ PROTECTION

Perseroan menjamin kerahasiaan identitas dan memberikan             Company guarantees the confidentiality of identity and provides
perlindungan hukum sesuai ketentuan perundang-undangan              legal protection in accordance with applicable laws and
yang berlaku bagi pelapor, serta menjaga kerahasiaan isi laporan    regulations for reporters, and maintains the confidentiality of the
yang disampaikan oleh pelapor. Hal ini dilakukan agar yang          contents of reports submitted by reporters. This is done so that
bersangkutan dan/atau keluarganya terhindar dari hal-hal yang       the person concerned and/or his family are protected from things
dapat merugikan atau membahayakan.                                  that can be harmful or dangerous.



SOSIALISASI WHISTLEBLOWING SYSTEM                                   WHISTLEBLOWING SYSTEM SOCIALIZATION

Perseroan senantiasa melakukan sosialisasi mengenai kebijakan       The Company continually conducts socialization regarding WBS
WBS kepada seluruh karyawan dan pemangku kepentingan yang           policy to all employees and stakeholders through face to face
dilakukan melalui sosialisasi tatap muka maupun secara daring,      and online socialization, installing stickers, posters and banners in
pemasangan stiker, poster dan spanduk di masing-masing unit         each work unit and villages around the Company.
kerja dan desa sekitar Perusahaan.



SANKSI BAGI PELANGGAR                                               SANCTIONS FOR VIOLATORS

Perseroan akan memberikan sanksi pada setiap pelaporan yang         The Company will impose sanctions on any reporting that is
terbukti melanggar kebijakan atau aturan Perseroan. Sanksi yang     proven to violate the Company’s policies or regulations. The
dikenakan akan disesuaikan dengan jenis pelanggaran.                sanctions imposed will be adjusted to the type of violation.



HASIL PENANGANAN DAN TINDAK LANJUT PENGADUAN                        RESULT OF THE REPORT HANDLING AND FOLLOW UP

Selama tahun 2023 ada sebanyak 32 pelaporan yang masuk              During 2023 there were 32 reports received through WBS, where
melalui WBS, di mana dua diantaranya berasal dari eksternal.        is two comes from external parties. All such reports have been
Seluruh pelaporan tersebut telah diproses dan ditindaklanjuti       processed and followed up in accordance with applicable
sesuai dengan prosedur dan pedoman yang berlaku.                    procedures and guideliness.




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       PENGADAAN BARANG DAN JASA
       PROCUREMENT OF GOODS AND SERVICES




       Perseroan mengelola rantai pasokannya melalui Kebijakan                The Company manages its supply chain through a Goods and
       Pengadaan Barang dan Jasa yang mempertimbangkan kualitas               Services Procurement Policy that takes into account quality and
       dan delivery time, proses dan pengendalian pengadaan yang              delivery time, effective and efficient procurement processes
       efektif dan efisien serta memenuhi peraturan perundang-                and controls, as well as compliance with Indonesian laws and
       undangan yang berlaku di Indonesia.                                    regulations.


       Kebijakan Pengadaan didasari oleh pemenuhan barang/                    Procurement Policy is based on the fulfillment of goods/services
       jasa yang dibutuhkan melalui mekanisme yang benar dan                  needed through a correct and independent mechanism (does not
       independen (tidak mengandung unsur benturan kepentingan),              contain elements of conflict of interest), by upholding the principles
       dengan menjunjung prinsip-prinsip transparansi, akuntabilitas,         of transparency, accountability, responsibility, independence and
       responsibilitas, independensi dan fairness. Kebijakan pengadaan        fairness. Procurement policy is the basis for the preparation of all
       merupakan dasar bagi penyusunan seluruh kebijakan dan                  policies and decisions of the Company related to the procurement
       pengambilan keputusan Perusahaan yang terkait dengan proses            process of goods and services.
       pengadaan barang dan jasa.
                                                                              The Company has procedures for procuring goods and services
       Perseroan memiliki prosedur pengadaan barang dan jasa                  based on SOP-PBJ.GN-001. Procurement of the Company’s goods
       berdasarkan Nomor SOP-PBJ.GN-001. Pengadaan Barang dan                 and services is carried out by the Procurement and Logistics
       Jasa Perseroan dilakukan oleh Departemen Pengadaan dan                 Department. Types of procurement of the Company are divided
       Logistik. Jenis pengadaan Perseroan terbagi menjadi pengadaan          into procurement of goods and services. The procurement method
       barang dan jasa. Metode pengadaan dilakukan dengan dua acara           is carried out in two ways, namely direct appointment through a
       yakni penunjukan langsung melalui proses perbandingan harga            price comparison process and through a tender conducted by the
       dan melalui tender yang dilakukan oleh komite tender.                  tender committee.


       Perseroan menyeleksi ketat para pemasok di rantai pasokannya           The Company strictly selects suppliers in its supply chain to
       untuk memastikan bahwa kebutuhan Perusahaan dapat dipasok              ensure that the Company’s needs can be fulfilled with quality
       dengan produk dan jasa yang berkualitas, tersedia saat diperlukan,     products and services, available when needed, on time delivery,
       tepat waktu pengiriman, harga memadai, dan mematuhi kebijakan          adequate prices, and compliant with the Company’s sustainability
       keberlanjutan Perseroan (quality, availability, delivery, price, and   policies (quality, availability, delivery, price, and compliance).
       compliance).


       Seleksi pemasok dilakukan sesuai dengan salah satu butir               Supplier selection is carried out in accordance with one of the
       komitmen pada Kebijakan Keberlanjutan Perseroan, yaitu                 commitment points in the Company’s Sustainability Policy, namely
       “Berkomitmen untuk secara aktif melibatkan pemasok                     “Committed to actively involving suppliers and helping them
       dan membantu mereka meningkatkan kapasitasnya untuk                    increase their capacity to ensure compliance with our policies and
       memastikan kepatuhan terhadap kebijakan dan komitmen kami”.            commitments”.



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Selain memenuhi kriteria teknis, pemasok Perseroan juga harus       In addition to meeting the technical criteria, the Company’s
memenuhi standar dan prinsip-prinsip berikut:                       suppliers must also meet the following standards and principles:


•    Prinsip-Prinsip Panduan Hak Asasi Manusia dan Bisnis (UNGP).   •   United Nations Guiding Principles on Business and Human
                                                                        Rights (UNGP).
•    Prinsip-prinsip terkait aspek lingkungan serta Kesehatan dan   •   Environmental and occupational health and safety (OHS)
     keselamatan kerja (K3).                                            principles.


Kedua klausul persyaratan tersebut dicantumkan dalam kontrak        The two clauses of these requirements are included in the
terkait aspek kewajiban pengelolaan lingkungan dan K3 bagi          contract regarding aspects of environmental management and
pemasok sesuai dengan peraturan yang berlaku.                       OHS obligations for suppliers in accordance with applicable
                                                                    regulations.



TATA CARA ATAU PROSEDUR PENGADAAN BARANG DAN                        PROCEDURES FOR PROCUREMENT OF GOODS AND
JASA                                                                SERVICES

Berikut tahapan pengadaan barang dan jasa Perseroan:                The following are the stages of procurement of the Company’s
                                                                    goods and services:
1.   Proses Penerimaan Form Permintaan Pengadaan Barang atau        1. Receipt of Request Form for Procurement of Goods or Services
     Jasa (FPPBJ).                                                     (FPPBJ).
2.   Verifikasi dan analisa FPPBJ.                                  2. FPPBJ verification and analysis.
3.   Memilih model pengadaan barang atau jasa yang diminta.         3. Selection of the model of procurement of goods or services
                                                                       requested.
4. Pemilihan Penyedia barang atau jasa.                             4. Selection of goods or service providers.
   - Memilih penyedia barang atau jasa dari Daftar Rekanan             - Choosing goods or service providers from the Selected
      Terseleksi (DRT) atau memilih penyedia diluar daftar                 Partner List (DRT) or choosing providers outside the
      rekanan apabila barang atau jasa yang diminta tidak                  partner list if the goods or services requested are not
      tersedia.                                                            available.
5. Permintaan harga dan pembuatan surat permintaan                  5. Request for price and preparation of letter of request for price
   penawaran harga.                                                    quote.
6. Proses persetujuan pengadaan barang atau jasa.                   6. Approval for the procurement of goods or services.
7. Pemesanan pembelian barang atau jasa.                            7. Purchase orders for goods or services.
8. Memonitoring status purchase order atau work order               8. Monitoring the status of purchase orders or work orders.
9. Menerima dan memeriksa bukti penerimaan barang atau jasa.        9. Receiving and examining proof of receipt of goods or services.



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       KEBIJAKAN ANTI KORUPSI
       ANTI-CORRUPTION POLICIES




       Dewan Komisaris, Direksi, serta seluruh pegawai senantiasa             Board of Commissioners, Directors and all employees always
       menjunjung tinggi persaingan yang fair, nilai sportifitas dan          uphold fair competition, the values of sportsmanship and
       profesionalisme, serta prinsip-prinsip GCG. Perseroan juga             professionalism, as well as the principles of GCG. Company is
       berkomitmen untuk menciptakan iklim usaha yang sehat,                  also committed to creating a healthy business climate, avoiding
       menghindari tindakan, perilaku, ataupun perbuatan-perbuatan            actions, behaviors or actions that may cause conflicts of interest,
       yang dapat menimbulkan konflik kepentingan, Korupsi, Kolusi            Corruption, Collusion and Nepotism (CCN) and always prioritizing
       dan Nepotisme (KKN) serta selalu mengutamakan kepentingan              the interests of Company above personal, family, group or
       Perseroan di atas kepentingan pribadi, keluarga, kelompok              group interests. Company also always pays attention to policies
       ataupun golongan. Perseroan juga senantiasa memperhatikan              regarding anti-corruption as stated in Law No. 20 year 2001
       kebijakan tentang anti korupsi sebagaimana tertuang dalam              concerning Amendments to Law No. 31 year 1999 concerning the
       Undang-Undang No. 20 Tahun 2001 tentang Perubahan atas                 Eradication of Corruption Crimes.
       Undang-Undang No. 31 Tahun 1999 tentang Pemberantasan
       Tindak Pidana Korupsi.


       Komitmen Perseroan dalam melakukan bisnis secara jujur                 Company’s commitment to doing business honestly and ethically,
       dan beretika, serta tidak mentolerir tindakan suap dan korupsi         and not tolerating bribery and corruption is realized through Anti-
       diwujudkan melalui Kebijakan Antikorupsi yang ditandatangani           Corruption Policy which was signed by the President Director of
       oleh Direktur Utama Perseroan pada 28 Juli 2021, yang bertujuan:       the Company on July 28, 2021, with aims:


       1.   Untuk mencegah kerugian baik materil maupun immateriil            1.   To prevent material and immaterial losses that could disrupt
            yang dapat mengganggu kelangsungan bisnis SSMS Group.                  the continuity of SSMS Group’s business.
       2.   Sebagai pedoman untuk memahami, menanggulangi, dan/               2.   As a guideline for understanding, overcoming, and/or
            atau mencegah pelaksanaan penerimaan gratifikasi (anti-                preventing the receipt of gratuities (anti-bribery) which
            suap) yang diduga akan merugikan keberlangsungan bisnis                can be suspected to be detrimental to the continuity of the
            Perusahaan.                                                            Company’s business.
       3.   Untuk meningkatkan ketaatan dan kedisiplinan SSMS Group           3.   To increase SSMS Group’s compliance and discipline with
            terhadap hukum, peraturan dan etika serta mendukung                    laws, regulations and ethics as well as support government
            program pemerintah dalam rangka mencegah tindakan                      programs to prevent acts of corruption and money laundering
            korupsi dan pencucian uang di Indonesia.                               in Indonesia.
       4.   Untuk meningkatkan kesadaran akan budaya beretika tinggi          4.   To increase awareness of a high ethical culture in carrying
            di dalam melaksanakan kegiatan kerja yang berhubungan                  out work activities related to external parties, in this case,
            dengan pihak eksternal, dalam hal ini, mitra kerja dan instansi        business partners and government agencies related to the
            pemerintah yang berhubungan dengan SSMS Group.                         SSMS Group.
       5.   Mewujudkan tata kelola perusahaan yang bersih dan terbebas        5.   Realizing clean corporate governance and free from all forms
            dari segala bentuk korupsi, kolusi, dan nepotisme (KKN).               of corruption, collusion and nepotism (KKN).



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RUANG LINGKUP TINDAKAN KORUPSI                                   SCOPE OF CORRUPTION ACTS

Kebijakan ini berlaku dan mengikat untuk seluruh karyawan,       This policy applies and is binding on all employees, management,
manajemen, tenaga kontrak, mitra usaha dan pemasok tanpa         contract workers, business partners and suppliers without
terkecuali. Adapun jenis tindakan yang dikategorikan korupsi     exception. The types of corruption acts are as follows:
adalah sebagai berikut:
1. Menyalahgunakan kewenangan, kesempatan atau sarana            1.   Abusing the authority, opportunities or facilities available to
    yang ada padanya karena jabatan atau kedudukannya.                him/her position.
2. Memberi, menerima dan/atau menjanjikan sesuatu                2.   Giving, receiving and/or promising something to an official or
    kepada seorang pejabat atau mitra kerja baik internal             business partner, both internal and external, with the intention
    maupun eksternal dengan maksud menggerakannya untuk               of encouraging him/her to do or not do something in his/her
    berbuat atau tidak berbuat sesuatu dalam jabatannya yang          position that is contrary to his/her obligations.
    bertentangan dengan kewajibannya.
3. Menggelapkan uang atau surat berharga yang disimpan           3.   Embezzling money or securities held because of one’s
    karena jabatan atau kedudukannya, atau membiarkan uang            position or status or allowing the money or securities to be
    atau surat berharga tersebut diambil atau digelapkan oleh         taken or embezzled by another person or aiding and assisting
    pihak orang lain, atau menolong dan membantu dalam                in carrying out these actions.
    melakukan perbuatan tersebut.
4. Memberi dan/atau menerima hadiah atau janji kepada/dari       4.   Giving and/or receiving gifts or promises to/from someone,
    seseorang baik internal maupun eksternal dengan mengingat         both internal and external, bearing to the power or authority
    kekuasaan atau wewenang yang melekat pada jabatan atau            attached to their position or position.
    kedudukannya.
5. Melanggar ketentuan Undang-Undang yang secara tegas           5.   Violating the provisions of the Law which expressly states that
    menyatakan bahwa pelanggaran terhadap ketentuan                   violation of the provisions of the Law is an act of corruption.
    Undang-Undang tersebut sebagai tindakan korupsi.
6. Melakukan percobaan pembantuan atau pemufakatan jahat         6. Attempting to assist or conspire to commit acts of corruption.
    untuk melakukan tindakan korupsi.
7. Memberikan bantuan, kesempatan, sarana, atau keterangan       7.   Providing assistance, opportunities, facilities or information for
    untuk terjadinya tindakan korupsi.                                acts of corruption.



SOSIALISASI KEBIJAKAN ANTI KORUPSI                               DISSEMINATION OF CORRUPTION ACTS

Dukungan Perseroan terhadap Gerakan antikorupsi direalisasikan   Company’s support for anti-corruption movement is realized in
dalam bentuk sosialisasi tatap muka dan pemasangan poster        the form of face-to-face socialization and installation of posters or
atau spanduk di setiap unit kerja.                               banners in each work unit.


Untuk memperkuat komitmen Perseroan dalam antikorupsi,           To strengthen Company’s commitment to anticorruption,
Perseroan telah memiliki Sistem Pelaporan Pelanggaran/           Company has a Whistleblowing System (WBS) as a medium for
Whistleblowing System (WBS) sebagai media untuk melaporkan       reporting indications of violations related to corruption.
indikasi pelanggaran terkait tindak pidana korupsi.



SANKSI APABILA TERINDIKASI MELAKUKAN TINDAKAN                    SANCTIONS IF INDICATED TO COMMITTING CORRUPTION
KORUPSI                                                          ACTS

Perusahaan akan memberikan hukuman atau konsekuensi tegas        The company will provide strict punishments or consequences to
kepada karyawan apabila teridentifikasi melakukan tindakan       employees if they are identified as committing acts of corruption,
korupsi, yaitu:                                                  namely:
1. Memberhentikan secara tidak hormat.                           1. Dismissal without respect.
2. Mempidanakan yang bersangkutan ke ranah hukum yang            2. Criminalize the person concerned within the legal authorities
   berlaku di wilayah Republik Indonesia.                           in force in the Republic of Indonesia.


Selama tahun 2023 tidak ada pelaporan yang masuk terkait         During 2023 there were no reports received related to corruption
tindakan korupsi.                                                acts.




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       PENGENDALIAN GRATIFIKASI
       GRATIFICATION CONTROL




       Perseroan belum memiliki kebijakan khusus terkait Gratifikasi,       The Company has not yet specific policy for Gratification, however,
       namun secara umum kebijakan gratifikasi telah tertuang pada          generally the Gratification Policy has been stated in the Anti-
       kebijakan Anti Korupsi dan kebijakan Etika Bisnis yang masing-       Corruption Policy and Business Ethic Policy which were ratified on
       masing telah disahkan pada 28 Juli 2021 dan 1 September 2023.        July 28, 2021, and September 1, 2023, respectively. The policy is
       Kebijakan tersebut sebagai dasar implementasi pengendalian           the basis for implementing gratification control to encourage the
       gratifikasi untuk mendorong pelaksanaan etika usaha dan              implementation of business ethics and work ethics, preventing
       etika kerja, pencegah benturan kepentingan serta pencegah            conflicts of interest and preventing fraud. Controlling gratification
       kecurangan. Pengendalian gratifikasi juga merupakan komitmen         shows the Company’s commitment to implementing the principles
       Perusahaan dalam penerapan prinsip-prinsip Tata Kelola               of Good Corporate Governance.
       Perusahaan yang Baik (Good Corporate Governance).


       Pengelolaan Gratifikasi                                              Gratification Management

       Saat ini pengelolaan Gratifikasi di Perseroan berada di Unit Audit   Currently, Gratification management in the Company is the domain
       Internal. Seluruh pelaporan yang masuk terkait gratifikasi akan      of Internal Audit Unit. All of incoming report related to gratification
       ditelaah dan diinvestigasi oleh Unit Audit Internal untuk kemudian   will be reviewed and investeged by Internal Audit Unit then will be
       dilaporkan ke Direksi dan pihak yang berwenang. Selain itu, Unit     submitted to the Board of Directors and the relevant authorities. In
       Audit Internal juga menyampaikan laporan perkembangan dan            addition, the Internal Audit Unit also submits progress reports and
       evaluasi hasil implementasi Program Pengendalian Gratifikasi         evaluates the results of the implementation of the Gratification
       di lingkungan perusahaan kepada Direksi secara berkala setiap        Control Program within the company to the Board of Directors
       bulan.                                                               periodically every month.


       Etika Terkait Gratifikasi                                            Ethics Related To Gratification

       Perseroan memiliki kebijakan etika bisnis yang wajib dipatuhi        The Company had the policy of business ethics that must be
       oleh seluruh insan Perseroan dan mitra usaha. Ada 8 (delapan)        adhered to by all Company personnel and business partners.
       kebijakan etika bisnis yang diterapkan, yaitu:                       There are 8 (eight) business ethics policies implemented, namely:


       1. Kebijakan: Perseroan akan menegakkan semua hukum                  1.   Policy: The Company will enforce all domestic and international
          domestic dan Internasional serta peraturan yang relevan                laws and relevant regulations to operational activities,
          dengan kegiatan operasi, termasuk UU. No. 20 Tahun 2001                including laws. No. 20 of 2001 concerning Amendments to Law
          tentang Perubahan atas UU No. 31 tahun 1999 tentang                    no. 31 of 1999 concerning Eradication of Corruption Crimes.
          Pemberantasan Tindak Pidana Korupsi.
       2. Transparansi: Perseroan memberikan semua informasi yang           2. Transparency: The Company provides all public information to
          bersifat publik kepada pemegang saham dan pemangku                   shareholders and other relevant stakeholders that the Board
          kepentingan terkait lainnya yang dianggap perlu oleh Direksi         of Directors deems necessary to enable objectively decision
          sehingga memungkinkan pengambilan keputusan dilakukan                making.
          secara objektif.



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3. Pencatatan: semua transaksi keuangan, dokumentasi                   3. Recording: all financial transactions, business supporting
   pendukung bisnis untuk pembayaran akan didokumentasikan                documentation for payments will be documented and stored
   dan disimpan sesuai dengan ketentuan yang berlaku.                     in accordance with applicable regulations.
4. Tidak ada sumbangan politik: Perseroan tidak akan                   4. No political donations: The Company will not provide
   memberikan sumbangan kepada partai politik atau untuk                  donations to political parties or for political reasons.
   alasan politik.
5. Tidak ada suap: Memberi atau meneriam suap adalah hal yang          5. No bribes: Giving or receiving bribes is unacceptable. A bribe is
   tidak dapat diterima. Suap adalah hadiah atau bujukan dalam            a gift or inducement in any form offered, promised or provided
   bentuk apapun yang ditawarkan, dijanjikan atau disediakan              with the aim of obtaining commercial, contractual, regulatory
   dengan tujuan untuk memperoleh keuntungan komersial,                   or personal advantage. This includes money, goods, food,
   Kontrak, peraturan atau pribadi. Hal ini termasuk pada uang,           entertainment and other enjoyments.
   barang, makanan, hiburan dan kenikmatan lainnya.
6. Tidak ada uang pelican: Perseroan secara aktif bekerja untuk        6. No kickbacks: The Company actively works to avoid the
   menghindari pembayaran atau penerimaan tidak resmi biaya               unauthorized payment or receipt of facilitation fees or bribes.
   fasilitasi atau suap. Pembayaran tidak resmi yang dibuat untuk         Unofficial payments made to secure or speed up processes
   mengamankan atau mempercepat proses yang berhubungan                   related to the government or government officials. Bribes are
   dengan pemerintah atau pejabat pemerintah. Suap biasanya               usually payments in exchange for favoring a business, such as
   pembayaran imbalan untuk mendukung bisnis, seperti                     selecting a particular provider or contractor.
   memilih penyedia tertentu atau kontraktor.
7. Hadiah: Hadiah hanya dapat diberikan kepada mitra bisnis            7.   Gifts: Gifts can only be given to business partners or other
   atau pihak lain dengan persetujuan terlebih dahulu dari                  parties with prior approval from the Board of Directors. The
   Direksi. Sifat dan nilai dari hadiah yang diterima harus                 nature and value of the gifts received must be reported to the
   dilaporkan kepada Direksi, didokumentasikan dan disimpan                 Board of Directors, documented and stored by the Company.
   oleh Perusahaan.
8. Bisnis personal: Direksi dan karyawan Perseroan dilarang            8. Personal business: Directors and employees of the Company
   menggunakan fasilitas perusahaan atau jam kerja perusahaan             are prohibited from using company facilities or company
   untuk melakukan bisnis pribadi dan terlibat dalam kegiatan             working hours to conduct personal business and engage in
   usaha tersebut.                                                        such business activities.
9. Benturan Kepentingan: Direksi dan karyawan dilarang                 9. Conflict of Interest: Directors and employees are prohibited
   memiliki perkebunan sawit dalam radius 100 km untuk                    from owning oil palm plantations within a radius of 100 km
   menghindari benturan kepentingan dan pengelolaan kebun                 to avoid conflicts of interest and to manage the company’s
   perusahaan lebih professional.                                         plantations more professionally.


Laporan Pengendalian Gratifikasi Tahun 2023                            The 2023 Gratification Control Report

Penegasan larangan penerimaan gratifikasi di Perseroan juga            Affirming the prohibition of gratification at the Company is also
disampaikan pada website Perusahaan. Sehingga setiap pihak             conveyed through the Company’s website. Any party who is aware
yang mengetahui adanya karyawan yang memberikan/menerima               of any Employee giving/receiving gifts or gratuities to/from
hadiah atau gratifikasi kepada/dari stakeholders dengan                stakeholders on behalf of themselves or the Company can report
mengatasnamakan pribadi maupun Perseroan dapat melaporkan              to the Company through the Whistleblowing System. During
kepada Perusahaan melalui Whistleblowing System. Selama tahun          2023 there were no reports received related to gratification to the
2023 tidak ada pelaporan gratifikasi yang masuk ke Perusahaan.         Company.


Budaya Anti Gratifikasi                                                Anti Gratification Culture

Perseroan menanamkan budaya anti gratifikasi kepada seluruh            The Company instills an anti-gratification culture to all employees
karyawan melalui berbagai cara, di antaranya:                          in various ways, including:


1.   Pada program pengenalan untuk karyawan baru.                      1.   On the introduction program for new employees.
2.   Pemasangan poster, brosur dan leaflet yang dipasang di            2.   Installation of posters, brochures and leaflets around the
     sekitar wilayah operasional Perusahaan.                                Company’s operational areas
3.   Penyebaran informasi mengenai layanan keluhan yang                3.   Dissemination of information regarding grievance services in
     dipasang di seluruh tempat strategis, website, dan di slip gaji        all strategic places, websites and on employee pay slips.
     karyawan.




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       PENCEGAHAN TRANSAKSI ORANG DALAM
       PREVENTION AGAINST INSIDER TRANSACTION

       Karyawan Perseroan berkomitmen untuk senantiasa menjaga            The Company Employee are committed to maintaining the
       kerahasiaan informasi Perseroan, terutama informasi yang           confidentiality of the Company’s information, particularly the ones
       belum dipublikasikan. Setiap Karyawan Perseroan, yang dalam        which have yet been published. Every the Company Employee
       pekerjaannya memiliki akses keinformasi rahasia, dilarang untuk    that has access to confidential information is not allowed to
       menggunakan atau berbagi informasi tersebut untuk tujuan lain      use or share such information for other purposes, except for the
       kecuali untuk kepentingan Perusahaan.                              Company’s interests.


       Seluruh informasi tentang Perseroan yang belum dipublikasikan      All information on the Company which has yet been published shall
       dianggap sebagai informasi rahasia atau sebagai Informasi Orang    be considered confidential information or as Insider Information.
       Dalam. Jika informasi tersebut disalahgunakan, khususnya terkait   This information, when abused, particularly on stock trading, may
       perdagangan efek, dapat dikategorikan sebagai perdagangan          be categorized as insider trading. Insider Trading is prohibited by
       orang dalam (insider trading). Insider trading dilarang oleh       provisions of laws and regulations.
       peraturan perundang-undangan yang berlaku.




       KEBIJAKAN MANAGEMENT AND EMPLOYEES’ STOCK OPTION PLAN (MSOP/ESOP)
       POLICY OF MANAGEMENT AND EMPLOYEES’ STOCK OPTION PLAN (MSOP/ESOP)

       Perseroan tidak memiliki program kepemilikan saham bagi            The Company does not have a share ownership program
       karyawan dan/atau manajemen, baik dalam bentuk Employee            for employees and/or management, either in the form of an
       Stock Option Program (ESOP) maupun Management Stock Option         Employee Stock Option Program (ESOP) or a Management Stock
       Program (MSOP).                                                    Option Program (MSOP).




       KEBIJAKAN KEPEMILIKAN SAHAM OLEH ANGGOTA DEWAN KOMISARIS DAN DIREKSI DAN
       PELAKSANAANNYA
       POLICY ON SHARE OWNERSHIP BY MEMBERS OF THE BOARD OF COMMISSIONERS AND DIRECTORS AND ITS IMPLEMENTATION

       Berdasarkan Piagam Dewan Komisaris dan Direksi, mewajibkan         Based on the Charter of the Board of Commissioners and Board of
       seluruh anggota Dewan Komisaris untuk memberitahukan               Directors, it requires all members of the Board of Commissioners
       kepada Perusahaan apabila terjadi perubahan kepemilikan atas       to notify the Company if there is a change in ownership of the
       saham Perseroan, baik secara langsung maupun tidak langsung,       Company’s shares, either directly or indirectly, no later than
       selambat-lambatnya 3 (tiga) hari kerja setelah terjadinya          3 (three) working days after the change of ownership of the
       perubahan kepemilikan akan saham Perseroan.                        Company’s shares.


       Informasi kepemilikan saham Dewan Komisaris telah diungkapkan      Information on the Board of Commissioners’ share ownership has
       di Bab Profil Perusahaan bagian Komposisi Saham Perusahaan         been disclosed in the Company Profile Chapter, Company Share
       pada laporan ini.                                                  Composition section of this report.




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AKSES INFORMASI DAN DATA PERUSAHAAN DATA
ACCESS TO COMPANY’S INFORMATION AND DATA

Perseroan menyediakan akses informasi dan data Perseroan               Company provides the widest possible access to information and
seluas-luasnya bagi seluruh pemangku kepentingan dan investor          data of Company for all stakeholders and investors through the
melalui situs web www.ssms.co.id. Dalam situs tersebut, telah          website www.ssms.co.id. The site contains various information
memuat berbagai informasi mengenai profil Perseroan, produk            regarding Company’s profile, products and services, financial
dan jasa, ikhtisar keuangan, informasi saham, dan informasi            highlights, stock information, and other corporate information.
korporasi lainnya.


Di samping itu, Perseroan juga menyediakan sarana penyampaian          In addition, Company also provides a means of conveying
informasi dengan menghubungi kantor pusat Perseroan secara             information by contacting Company’s head office directly at the
langsung dengan alamat sebagai berikut:                                following address:


                                             Kantor Pusat PT Sawit Sumbermas Sarana Tbk
                                             Head Office of PT Sawit Sumbermas Sarana Tbk

                              Jl. H. Udan Said No. 47 Pangkalan Bun 74113 Kalimantan Tengah, Indonesia
                                                    t. +62 532 21297 | f. +62 532 21396


                                                       Kantor Perwakilan Jakarta
                                                      Jakarta Representative Office

                                                     Equity Tower Lt. 43 Suite C - D
                                  Jl. Jend. Sudirman Kav. 52-53 SCBD Lot 9 Jakarta 12190 - Indonesia
                                   t. +62 21 2903 5401 | f. +62 21 2903 5405 | e. corporate@ssms.co.id


                                                   Marketing and Product Information
                                                   Marketing and Product Information
                                                        e. commercial@ssms.co.id


KORESPONDENSI DAN LAPORAN BERKALA                                      CORRESPONDENCE AND PERIODIC REPORTS

Informasi keuangan dan non keuangan dari Perseroan telah               Financial and non-financial information from Company has
disusun dan dilaporkan secara transparan kepada pemegang               been prepared and reported transparently to shareholders,
saham, pemangku kepentingan, dan lembaga lain yang                     stakeholders and other required institutions. Information is
dipersyaratkan. Informasi dilaporkan sesuai target waktu,              reported according to the time target, presented completely and
tersajikan dengan lengkap dan akurat, terkini, utuh dan memadai        accurately, up-to-date, intact and adequate in accordance with
sesuai dengan tata cara, jenis dan cakupan sebagaimana diatur          the procedure, type and scope as stipulated in the provisions
dalam ketentuan tentang Transparansi Kondisi Keuangan                  concerning Transparency of Company’s Financial Conditions.
Perseroan. Informasi dipaparkan melalui laporan berupa:                Information is presented through reports in the form of:


-   Laporan Tahunan.                                                   -    Annual report.
-   Laporan Keuangan Triwulan.                                         -    Quarterly Financial Report.
-   Laporan administrasi bulanan pemegang saham Perseroan.             -    Monthly administration report of Company’s shareholders.
-   Laporan terkait dengan rencana RUPS                                -    Reports related to GMS plan
-   Laporan Penggunaan Dana Hasil Penawaran Umum                       -    Report on the Use of Public Offering Proceeds
-   Laporan kepemilikan saham Direksi dan Komisaris                    -    Report on the share ownership of the Directors and
                                                                            Commissioners
-   Penjelasan dan klarifikasi atas pemberitaan di media massa,        -    Explanation and clarification of news coverage in the mass
    kepada Bursa Efek Indonesia dan Otoritas Jasa Keuangan.                 media, to the Indonesia Stock Exchange and the Financial
                                                                            Services Authority.
-   Keterbukaan informasi terkait corporate action dan public          -    Disclosure of information related to corporate actions and
    expose.                                                                 public expose.


Perseroan juga secara berkala melakukan pelaporan dan                  Company also periodically reports and corresponds with the
korespondensi dengan Bursa Efek Indonesia (BEI) dan Otoritas           Indonesia Stock Exchange (IDX) and the Financial Services
Jasa Keuangan (OJK), Perseroan berkomitmen melaksanakan                Authority (FSA). Company is committed to implementing
transparansi dan memberikan akses informasi kepada publik,             transparency and providing access to information to the public,
pemegang saham, dan pemangku kepentingan lainnya.                      shareholders and other stakeholders.




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       PENERAPAN ASPEK DAN PRINSIP TATA KELOLA PERUSAHAAN SESUAI KETENTUAN
       OTORITAS JASA KEUANGAN (OJK)
       IMPLEMENTATION OF ASPECTS AND PRINCIPLES OF CORPORATE GOVERNANCE ACCORDING TO FINANCIAL SERVICES AUTHORITY (OJK)
       REGULATIONS

       Perseroan senantiasa melakukan monitoring dan evaluasi                           The Company always monitors and evaluates the implementation
       terhadap penerapan GCG di lingkungan usaha Perseroan, yaitu                      of GCG within the Company by carrying out regular GCGA
       dengan melaksanakan Assessment GCG secara berkala. Salah satu                    ssessments. One of assessment carried out is by assessment
       assessment yang dilakukan adalah melalui penilaian penerapan                     of implementation of aspects and principles of corporate
       aspek dan prinsip tata kelola sesuai dengan ketentuan OJK.                       governance according to FSA.


       Peraturan Otoritas Jasa Keuangan (POJK) No. 21/ POJK.04/2015                     Financial Services Authority Regulation Number 21/ POJK.04/2015
       tentang Penerapan Pedoman Tata Kelola Perusahaan Terbuka                         on Implementation of Public Company Governance Guidelines
       dan Surat Edaran Otoritas Jasa Keuangan (SEOJK) No. 32/                          and Financial Services Authority Circular Letter Number 32/
       SEOJK.04/2015 tentang Pedoman Tata Kelola Perusahaan                             SEOJK.04/2015 on Guidelines for Public Company Governance
       Terbuka mencakup 5 (lima) aspek, 8 (delapan) prinsip, serta 25                   covering 5 (five) aspects, 8 (eight) principles, as well as 25 (twenty-
       (dua puluh lima) rekomendasi penerapan aspek dan prinsip tata                    five) recommendations for the implementation of aspects and
       kelola perusahaan yang baik berdasarkan pendekatan “telah                        principles of good corporate governance based on the” comply or
       sesuai atau dengan penjelasan” (comply or explain). Perseroan                    explain”. The Company implements these aspects, principles and
       menerapkan aspek, prinsip, dan rekomendasi tersebut dengan                       recommendations with the following explanation:
       penjelasan sebagai berikut:


           No                                          REKOMENDASI                                                    IMPLEMENTASI DI PERSEROAN
                                                     RECOMMENDATIONS                                                IMPLEMENTATION AT THE COMPANY


        HUBUNGAN PERUSAHAAN TERBUKA DENGAN PEMEGANG SAHAM DALAM MENJAMIN HAK-HAK PEMEGANG SAHAM
        RELATIONSHIP OF PUBLIC COMPANY WITH THE SHAREHOLDERS IN ENSURING THE SHAREHOLDERS’ RIGHTS
        Prinsip 1
        Principle 1
        Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham (RUPS)
        Improving the Value of General Meeting of Shareholders (GMS) Convention
           1.1    Perusahaan Terbuka memiliki cara atau prosedur teknis pengumpulan suara (voting) baik                          Terpenuhi
                  secara terbuka maupun tertutup yang mengedepankan independensi, dan kepentingan                                 Comply
                  pemegang saham.

                  Public company has technical procedures for opened or closed voting that promote
                  independency and shareholders’ interests.
           1.2    Seluruh anggota Direksi dan anggota Dewan Komisaris Perusahaan Terbuka hadir dalam                             Terpenuhi
                  RUPS Tahunan.                                                                                                   Comply

                  All Members of the Directors and Board of Commissioners are present at Annual GMS.
           1.3    Ringkasan risalah RUPS tersedia dalam Situs Web Perusahaan Terbuka paling sedikit selama                       Terpenuhi
                  1 (satu) tahun.                                                                                                 Comply

                  Summary of GMS Minutes is available on public company’s Website by no less than 1 (one)
                  year.
        Prinsip 2
        Principle 2
        Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor
        Improving Communication Quality of Public Company with Shareholders or Investors
           2.1    Perusahaan Terbuka memiliki suatu kebijakan komunikasi dengan pemegang saham atau                              Terpenuhi
                  Investor.                                                                                                       Comply

                  Public company has a communication policy with shareholders or investors.
           2.2    Perusahaan Terbuka mengungkapkan kebijakan komunikasi Perusahaan Terbuka dengan                                Terpenuhi
                  pemegang saham atau investor dalam Situs Web.                                                                   Comply

                  Public company discloses its communication policy with shareholders or investors in Website.




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 No                                          REKOMENDASI                                                  IMPLEMENTASI DI PERSEROAN
                                           RECOMMENDATIONS                                              IMPLEMENTATION AT THE COMPANY


HUBUNGAN PERUSAHAAN TERBUKA DENGAN PEMEGANG SAHAM DALAM MENJAMIN HAK-HAK PEMEGANG SAHAM RELATIONSHIP OF PUBLIC
COMPANY WITH THE SHAREHOLDERS IN ENSURING THE SHAREHOLDERS’ RIGHTS
Prinsip 3
Principle 3
Memperkuat Keanggotaan dan Komposisi Dewan Komisaris
Strengthening the Membership and Composition of Board of Commissioners
 3.1    Penentuan jumlah anggota Dewan Komisaris mempertimbangkan kondisi Perusahaan                              Terpenuhi
        Terbuka.                                                                                                   Comply

        Determination of number of Board of Commissioners’ members shall consider the conditions
        of Public Company.
 3.2    Penentuan komposisi anggota Dewan Komisaris memperhatikan keberagaman keahlian,                           Terpenuhi
        pengetahuan, dan pengalaman yang dibutuhkan.                                                               Comply

        Determination of Composition of Board of Commissioners’ members considers the variety of
        expertise, knowledge, and experiences required.


Prinsip 4
Principle 4
Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris
Improving the Quality of Job and Responsibility Performance of Board of Commissioners
 4.1    Dewan Komisaris mempunyai kebijakan penilaian sendiri (self-assessment) untuk menilai                     Terpenuhi
        kinerja Dewan Komisaris.                                                                                   Comply

        Board of Commissioners has self assessment policy to assess the performance of Board of
        Commissioners.
 4.2    Kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Dewan Komisaris, diungkap             Terpenuhi
        melalui Laporan Tahunan Perusahaan Terbuka.                                                                Comply

        Self Assessment policy to assess the performance of Board of Commissioners is disclosed in
        Annual Report of Public Company.
 4.3    Dewan Komisaris mempunyai kebijakan terkait pengunduran diri anggota Dewan Komisaris                      Terpenuhi
        apabila terlibat dalam kejahatan keuangan.                                                                 Comply

        Board of Commissioners has a policy with respect to the resignation of the member of the
        Board of Commissioners if such member is involved in financial crime.
 4.4    Dewan Komisaris atau Komite yang menjalankan fungsi Nominasi dan Remunerasi menyusun                      Terpenuhi
        kebijakan suksesi dalam proses Nominasi anggota Direksi.                                                   Comply

        Board of Commissioners or Committee that conduct the Nomination and Remuneration
        functions arrange succession policy in nomination process of members of Board of Directors.


FUNGSI DAN PERAN DIREKSI
BOARD OF DIRECTORS’ FUNCTIONS AND ROLES
Prinsip 5
Principle 5
Memperkuat Keanggotaan dan Komposisi Direksi
Strengthening the Membership and Composition of the Board of Directors
 5.1    Penentuan jumlah anggota Direksi mempertimbangkan kondisi Perusahaan Terbuka serta                        Terpenuhi
        efektifitas dalam pengambilan keputusan.                                                                   Comply

        Determination of number of Board of Directors’ members considers the condition of public
        company and the effectiveness of decision-making.
 5.2    Penentuan komposisi anggota Direksi memperhatikan, keberagaman keahlian, pengetahuan,                     Terpenuhi
        dan pengalaman yang dibutuhkan.                                                                            Comply

        Determination of Board of Directors’ members considers the variety of expertise, knowledge,
        and experiences required.



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           No                                           REKOMENDASI                                                  IMPLEMENTASI DI PERSEROAN
                                                      RECOMMENDATIONS                                              IMPLEMENTATION AT THE COMPANY
           5.3    Anggota Direksi yang membawahi bidang akuntansi atau keuangan memiliki keahlian dan/                       Terpenuhi
                  atau pengetahuan di bidang akuntansi.                                                                       Comply

                  Member of Board of Directors who is liable for accounting or finance has accounting expertise
                  and/ or knowledge.
        Prinsip 6
        Principle 6
        Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi
        Improving the Quality of Job and Responsibility Performance of Board of Directors
           6.1    Direksi mempunyai kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Direksi.             Terpenuhi
                  Board of Directors has self assessment policy to assess performance of Directors.                           Comply
          6.2     Kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Direksi diungkap melalui               Terpenuhi
                  Laporan Tahunan Perusahaan Terbuka.                                                                         Comply

                  Self-assessment policy to assess the performance of Board of Directors is disclosed in Annual
                  Report of public company.
          6.3     Direksi mempunyai kebijakan terkait pengunduran diri anggota Direksi apabila terlibat dalam                Terpenuhi
                  kejahatan keuangan.                                                                                         Comply

                  Board of Directors has a policy related to resignation of Board of Directors’ members involved
                  in financial crimes.


        PARTISIPASI PEMANGKU KEPENTINGAN
        PARTICIPATION OF STAKEHOLDERS
        Prinsip 7
        Principle 7
        Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan
        Improving corporate governance aspect through participation of stakeholders
           7.1    Perusahaan Terbuka memiliki kebijakan untuk mencegah terjadinya insider trading.                           Terpenuhi
                  Public Company has a policy to prevent insider trading.                                                     Comply
           7.2    Perusahaan Terbuka memiliki kebijakan anti korupsi dan anti fraud.                                         Terpenuhi
                  Public company has anti corruption and anti fraud policy.                                                   Comply
           7.3    Perusahaan Terbuka memiliki kebijakan tentang seleksi dan peningkatan kemampuan                            Terpenuhi
                  pemasok atau vendor.                                                                                        Comply

                  Public company has a policy concerning selection and capability improvement of suppliers
                  and vendors.
           7.4    Perusahaan Terbuka memiliki kebijakan untuk pemenuhan hak-hak kreditur.                                    Terpenuhi
                  Public company has a policy concerning the fulfillment of creditors’ rights.                                Comply
           7.5    Perusahaan Terbuka memiliki kebijakan Whistleblowing System.                                               Terpenuhi
                  Public company has a policy of Whistleblowing System.                                                       Comply
           7.6    Perusahaan Terbuka memiliki kebijakan pemberian insentif jangka panjang kepada Direksi                     Terpenuhi
                  dan Karyawan.                                                                                               Comply

                  Public company has long-term incentive policy for the Board of Directors and employees.


        KETERBUKAAN INFORMASI
        INFORMATION DISCLOSURE
        Prinsip 8
        Principle 8
        Meningkatkan Pelaksanaan Keterbukaan
        Improving the Implementation of Information Disclosure
           8.1    Perusahaan Terbuka memanfaatkan penggunaan teknologi informasi secara lebih luas selain                    Terpenuhi
                  Situs Web sebagai media keterbukaan informasi.                                                              Comply

                  Public Company takes benefits from application of a broader information technology other
                  than website as information disclosure media.
          8.2     Laporan Tahunan Perusahaan Terbuka mengungkapkan pemilik manfaat akhir dalam                               Terpenuhi
                  kepemilikan saham Perusahaan Terbuka paling sedikit 5% (lima persen), selain pengungkapan                   Comply
                  pemilik manfaat akhir dalam kepemilikan dan pengendali.

                  Annual Report of public company discloses beneficial owner in share ownership of public
                  company of at least 5% (five percent), other than disclosure of beneficial owner in share
                  ownership of public company through major controlling shareholders.




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     TATA KELOLA PERUSAHAAN
                   CORPORATE GOVERNANCE   05




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                                  TANGGUNG JAWAB SOSIAL PERUSAHAAN
                                                  CORPORATE SOCIAL RESPONSIBILITY   06




      TANGGUNG
                         06
   JAWAB SOSIAL
    PERUSAHAAN
CORPORATE SOCIAL RESPONSIBILITY



        Perseroan berkomitmen untuk memberikan dampak
        positif dan manfaat yang berkesinambungan bagi
        seluruh pemangku kepentingan dan masyarakat dalam
        jangka panjang melalui program Tanggung Jawab
        Sosial dan Lingkungan (TJSL) dengan menyeimbangkan
        kinerja ekonomi, sosial dan lingkungan untuk mencapai
        Tujuan Pembangunan Berkelanjutan (TPB).

        The Company is committed to having a positive
        impact and sustainable benefits for all stakeholders
        and people for long term through Environmental and
        Social Responsibility by balancing the performance
        of economic, social and environmental to achive
        Sustainable Development Goals (SDGs).

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       KOMITMEN SSMS PADA PELAKSANAAN TANGGUNG JAWAB SOSIAL PERUSAHAAN
       SSMS’S COMMITMENT TO IMPLEMENTING CORPORATE SOCIAL RESPONSIBILITY

       PT Sawit Sumbermas Sarana Tbk memiliki komitmen agar                  PT Sawit Sumbermas Sarana Tbk is committed to having a
       kehadirannya memberikan dampak positif dan manfaat yang               positive impact and sustainable benefits for all stakeholders and
       berkesinambungan bagi seluruh pemangku kepentingan dan                the Indonesian people for long term, both directly and indirectly.
       masyarakat Indonesia pada umumnya dalam jangka panjang,               This commitment is realized through Environmental and Social
       baik secara langsung maupun tidak langsung. Harapan tersebut          Responsibility by balancing the performance of economic, social
       diwujudkan melalui program Tanggung Jawab Sosial dan                  and environmental to achive Sustainable Development Goals
       Lingkungan (“TJSL”) dengan menyeimbangkan kinerja ekonomi,            (SDGs).
       sosial dan lingkungan dalam rangka mewujudkan pencapaian
       Tujuan Pembangunan Berkelanjutan (TPB).


       Perseroan memiliki pandangan bahwa program Tanggung Jawab             Company believes that Environmental and Social Responsibility
       Sosial dan Lingkungan (“TJSL”) merupakan satu kesatuan yang           programs is inseparable part from the Company’s business
       tidak terpisahkan dari kegiatan operasional bisnis Perseroan. Oleh    operations. Therefore, the Company carries out the Environmental
       karena itu, Perseroan menjalankan program Tanggung Jawab              and Social Responsibility programs based on ethical and
       Sosial dan Lingkungan (“TJSL”) berlandaskan pada perilaku etis dan    transparent behaviour which oriented to sustainable development
       transparan yang berorientasi pada pembangunan berkelanjutan           and community welfare by considering the expectations of
       dan kesejahteraan masyarakat dengan memperhatikan harapan             stakeholders. Broadly speaking, the Environmental and Social
       pemangku kepentingan. Secara luas, program Tanggung Jawab             Responsibility program is directed at protecting the interests of
       Sosial dan Lingkungan (“TJSL”) diarahkan untuk melindungi             all stakeholders in order to manage the impact of the Company’s
       kepentingan seluruh pemangku kepentingan guna mengelola               policies and operational business activities.
       dampak dari kebijakan dan kegiatan operasional Perseroan.


       Dalam melaksanakan bisnis dan kegiatan operasionalnya, Perseroan      In implementing its operational business activities, the Company
       memperhatikan kualitas, tanggung jawab dan keberlanjutan.             takes into account the quality, responsibility and sustainability.
       Perseroan telah menerapkan program Tanggung Jawab Sosial dan          The Company has implemented the Environmental and Social
       Lingkungan (“TJSL”) berdasarkan Undang-Undang No. 40 tahun            Responsibility programs based on the Law No. 40 of 2007
       2007 tentang Perseroan Terbatas dan ISO 26000 tentang Panduan         regarding Limited Liability Company and ISO 26000 regarding
       Tanggung Jawab Sosial. Selain itu, Perseroan mendorong perilaku       Guidance on Social Responsibility. In addition, to encourage ethical
       etis dengan memberlakukan kebijakan yang menjadi landasan             and transparent behavior, Company has stipulated policies that
       kegiatan usaha, di antaranya, Pedoman Pengelolaan GCG, Etika          form the basis of business activities, including GCG Management
       Bisnis Perseroan, serta peraturan-peraturan lain yang harus ditaati   Guidelines, Company’s Business Ethics, and other regulations that
       oleh setiap pekerja mulai dari tingkat manajemen hingga karyawan.     must be obeyed by every employee, from management level to
                                                                             the employees.


       Perseroan berharap, dengan program Tanggung Jawab Sosial              Company hopes, by implementing the Environmental and Social
       dan Lingkungan (“TJSL”) akan terjalin harmonisasi yang baik           Responsibility Programs will have a good harmonization between
       antara Perseroan dengan seluruh pemangku kepentingan, yang            Company and all stakeholders, which will ultimately ensure
       pada akhirnya akan menjamin kelancaran seluruh operasional            the smooth running of all of Company’s operations, improve
       Perseroan, meningkatkan kesejahteraan masyarakat, sekaligus           community welfare, as well as maintaining the preservation of the
       terjaganya kelestarian lingkungan dan alam sekitar.                   environment and the natural surroundings.



       Dasar Hukum                                                           Legal Basis

       1. Undang-undang Nomor 40 tahun 2007 tentang Perseroan                1.   Law Number 40 year 2007 concerning Limited Liability
          Terbatas                                                                Company
       2. Peraturan Pemerintah Nomor 47 tahun 2012 tentang Tanggung          2.   Government Regulation Number 47 year 2012 concerning
          Jawab Sosial dan Lingkungan Perseroan Terbatas,                         Corporate Social and Environmental Responsibility Limited
       3. Undang-undang Nomor 25 tahun 2017 tentang Penanaman                3.   Law Number 25 year 2017 concerning Investment.
          Modal.
       4. Anggaran Dasar                                                     4. Articles of Association
       5. ISO 26000 tentang Panduan Tanggung Jawab Sosial                    5. ISO 26000 regarding Guidance on Social Responsibility
       6. Sertifikasi Indonesian Sustainable Palm Oil (ISPO), Roundtable     6. Indonesian Sustainable Palm Oil (ISPO), Roundtable on
          on Sustainable Palm Oil (RSPO) dan Hak Asasi Manusia.                 Sustainable Palm Oil (RSPO) and Human Rights certifications.




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   REGULASI PEMERINTAH                        ROUNDTABLE ON                    INDONESIAN SUSTAINABLE                      HAK ASASI MANUSIA
  GOVERNMENT REGULATION                     SUSTAINABLE PALM OIL                      PALM OIL                               HUMAN RIGHTS



UU PT No. 40 Tahun 2007                 Mengapa        Sertifikat   RSPO     ISPO dibuat untuk meningkatkan          HAM Pada Perusahaan Kelapa
Disebutkan Bahwa Perseroan              penting?     Demi      meyakinkan    daya    saing     produk sawit          Sawit
yang    menjalankan      kegiatan       produksi minyak sawit dilakukan      Indonesia dengan berpartisipasi         Perusahaan dapat menyediakan
usahanya di bidang dan/atau             berkelanjutan     dan     menjaga    dalam program pengurangan               lapangan kerja secara adil
berkaitan    dengan       sumber        integritas perdagangan komoditi.     emisi karbon dan meningkatkan           dengan menghormati hak asasi
daya alam wajib melaksanakan                                                 perhatian     pengusaha  sawit          manusia (HAM) dan hak-hak
Tanggung Jawab Sosial dan               Perusahaan melalui CSR memiliki      terhadap isu lingkungan.                pekerja. Perusahaan berupaya
Lingkungan. (Pasal 74 Ayat 1)           nilai tambah dalam peningkatan                                               menciptakan lingkungan kerja
                                        pendapatan             masyarakat    Perusahaan melalui CSR memiliki         yang aman, memberdayakan
UU PM No. 25 Tahun 2007                 yang      berkelanjutan     serta    nilai tambah dalam peningkatan          perempuan     dan   memupuk
UU No. 25 Tahun 2007 Tentang            keseimbangan antara kinerja          pendapatan             masyarakat       budaya keragaman.
Penanaman Modal. Pasal 15               ekonomi, sosial dan lingkungan.      yang      berkelanjutan,    serta
(B) Menyatakan Bahwa “Setiap                                                 keseimbangan antara kinerja             Human Rights in Palm Oil
Penanaman Modal Berkewajiban            Why is the RSPO Certificate          ekonomi, sosial dan lingkungan.         Companies
Melaksanakan Tanggung Jawab             important? In order to ensure that                                           The Company can provide jobs
Sosial Perusahaan”.                     palm oil production is sustainable   ISPO was created to increase the        fairly by respecting human rights
                                        and maintains the integrity of the   competitiveness of Indonesian           and workers’ rights. The company
PT Law No. 40 of 2007                   commodity trade.                     palm products by participating          seeks to create a safe work
It is stated that the Company                                                in carbon emission reduction            environment, empower women
that carries out its business           Companies through CSR have           programs and increasing palm            and foster a culture of diversity.
activities in the field of and / or     added value in increasing people’s   oil entrepreneurs’ attention to
related to natural resources is         sustainable income and a balance     environmental issues.
obliged to carry out Social and         between economic, social and
Environmental         Responsibility.   environmental performance.           The Company through CSR
(Article 74 Paragraph 1)                                                     have added value in increasing
                                                                             community            sustainable
PM Law No. 25 of 2007                                                        income, as well as a balance
Law No. 25 of 2007 concerning                                                between economic, social and
Investment. Article 15 (b) states                                            environmental performance.
that “Every investment is obliged
to carry out corporate social
responsibility”.




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       VISI DAN MISI CSR
       CSR VISION AND MISSION

       Visi                                                           Vision

       “Berkah untuk Lingkungan Sekitarnya”                           “Blessing for the Surrounding Environment”



       Misi                                                           Mission

       1.   Melaksanakan komitmen perusahaan atas tanggung jawab      1.   Carry out Company’s commitment to social and environmental
            sosial dan lingkungan yang akan memberikan nilai tambah        responsibility which will provide added value to all
            kepada semua pemangku kepentingan.                             stakeholders.
       2.   Menciptakan hubungan harmonis yang mendukung              2.   Creating harmonious relationships that support the
            perkembangan komunitas sekitar, seimbang dengan                development of the surrounding community, in balance with
            pertumbuhan perusahaan.                                        Company’s growth.
       3.   Melaksanakan tanggung jawab sosial perusahaan untuk       3.   Carry out corporate social responsibility for sustainable
            pembangunan masyarakat yang berkelanjutan.                     community development.
       4.   Membantu pemerintah Indonesia dalam meningkatkan          4.   Helping the Indonesian government in improving people’s
            kesejahteraan masyarakat.                                      welfare.
       5.   Membangun hubungan yang harmonis dan kondusif             5.   Building harmonious and conducive relationships with all
            dengan semua pemangku kepentingan (stakeholder) untuk          stakeholders to support the development and reputation of
            mendukung perkembangan dan reputasi perusahaan.                Company.



       Kriteria Pelaksanaan CSR                                       Criteria of CSR Implementation

       1.   Tepat Sasaran                                             1.   On Target
       2.   Bermanfaat                                                2.   Helpful
       3.   Berkelanjutan                                             3.   Sustainable




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PROGRAM CSR 2023: TUMBUH KOKOH BERKELANJUTAN BERSAMA MASYARAKAT
2023 CSR PROGRAMS: GROWING STRONGER AND SUSTAINABLE WITH COMMUNITY




Perseroan berupaya untuk berperan dalam usaha meningkatkan           Company strives to take part in improving the community quality
kualitas dan kesejahteraan masyarakat melalui program Tanggung       and welfare through the Environmental and Social Responsibility
Jawab Sosial dan Lingkungan (“TJSL”). Masyarakat adalah salah satu   Programs. Community is one of the stakeholders that can have an
pemangku kepentingan yang dapat memberikan dampak pada               impact on the Company’s business sustainability. Therefore, the
keberlanjutan bisnis Perseroan. Oleh karena itu, dengan program      Company may growing stronger and sustainable with community
Tanggung Jawab Sosial dan Lingkungan (“TJSL”), Perseroan dapat       by implementing the Environmental and Social
tumbuh kokoh berkelanjutan Bersama masyarakat.                       Responsibility programs.


Di sepanjang tahun 2023, Perseroan telah menyusun program            Throughout 2023, Company has developed a corporate social
pelaksanaan tanggung jawab sosial perusahaan yang terbagi ke         responsibility implementation program which is divided into 6
dalam 6 pilar, yaitu:                                                pillars, namely:


1.   Sosial Budaya;                                                  1.   Socio-Cultural;
2.   Pendidikan;                                                     2.   Education;
3.   Kesehatan;                                                      3.   Health;
4.   Pelestarian Lingkungan Hidup;                                   4.   Environmental Preservation;
5.   Infrastruktur;                                                  5.   Infrastructure;
6.   Pemberdayaan Masyarakat.                                        6.   Community Empowerment.


Anggaran Tanggung Jawab Sosial dan Lingkungan                        Environmental and Social Responsibility Budget
(TJSL)
Perseroan telah merealisasikan anggaran TJSL untuk 6 (enam)          The Company has implemented TJSL budget for 6 (six) pillars
pilar sebesar Rp34,15 miliar dengan 882 kegiatan dan penerima        amounting to Rp34.15 billion with 882 activities and beneficiaries
manfaat sebanyak 47 Desa dan 602.238 individu.                       of 47 villages and 602,238 individuals.



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       PROGRAM SOSIAL BUDAYA
       SOCIO-CULTURAL PROGRAMS

       SOSIAL BUDAYA                                                      SOCIO-CULTURAL

       Adalah program yang bertujuan untuk membantu meringankan           Is a program that aims to help ease the burden on society. In
       beban masyarakat. Sesuai dengan program Tujuan Pembangunan         accordance with the Sustainable Development Goals (SDG)
       Berkelanjutan (TPB), program ini mendukung TPB:                    program, this program supports SDGs:
       No. 1-Menghapus Kemiskinan                                         No. 1-Eliminating Poverty
       No. 2-Mengakhiri Kelaparan                                         No. 2-Ending Hunger
       No. 5-Kesetaraan Gender                                            No. 5-Gender Equality
       No. 10-Mengurangi Ketimpangan                                      No. 10-Reducing Inequality
       No. 11-Pembangunan Berkelanjutan                                   No. 11-Sustainable Development
       No. 16-Perdamaian dan Keadilan.                                    No. 16-Peace and Justice.


       Perseroan telah merealisasikan anggaran untuk program ini          The Company has realized the budget for this program was of
       sebesar Rp18,1 miliar yang terdiri dari program bantuan sembako,   Rp18.1 billion which consist of Grocery Donation, Village Teams
       tim desa, dan bantuan hewan qurban.                                and Sacrificial Animal Donation.



       Bantuan Sembako                                                    Grocery Donation

       Program Bantuan Sembako untuk masyarakat ini merupakan             Grocery Donation Program for the Community is a routine activity
       kegiatan rutin yang dilakukan menjelang hari raya keagamaan.       carried out ahead of religious holidays. In 2023, the Company
       Pada tahun 2023, Perseroan memberikan bantuan kepada               have provide assistance to the community around Company in
       masyarakat sekitar perusahaan sebanyak 500 ton beras dan           the amount of 500 tons of rice and 100,000 litters of cooking oil
       100.000 liter minyak goreng yang diberikan kepada lebih dari       aimed to 50,000 individual spread across in 186 Villages/Districts
       50.000 jiwa yang tersebar di 186 Desa/Kelurahan di seluruh         throughout Central Kalimantan.
       Kalimantan Tengah.




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Tim Desa                                                               Village Teams

Perseroan melibatkan kelompok perwakilan setiap desa                   The Company engages groups who representing the each village
yang berperan sebagai entitas kolaboratif untuk memastikan             as a collaborative entity to ensure sustainable development and
pembangunan dan perbaikan berkelanjutan di tingkat lokal dapat         improvement at the local level. This representative group is called
berjalan dengan baik. Kelompok Perwakilan ini dinamakan Tim            as a Village Team that has function as communication liaison
Desa yang berfungsi sebagai penghubung komunikasi antara               between the Company and Community in carrying out activities
perusahaan dengan masyarakat dalam menjalankan kegiatan-               in the villages around the Company. The Village Team consists
kegiatan di desa sekitar perusahaan. Tim Desa ini terdiri dari tokoh   of community leaders, traditional leaders, village officials, and
masyarakat, tokoh adat, perangkat desa serta pihak-pihak yang          parties who are considered capable to convey the community’s
dianggap mampu menyampaikan aspirasi masyarakat.                       aspirations.



Bantuan Hewan Qurban                                                   Sacrificial Animal Donation

Perseroan senantiasa berpartisipasi setiap tahun dalam agenda          Every year, the Company always participates in the agenda of
perayaan keagamaan termasuk pada perayaan Hari Raya Idul               religious celebrations including the celebration of Eid al-Adha by
Adha dengan memberikan bantuan hewan Qurban. Di tahun                  providing assistance with sacrificial animals. In 2023, the Company
2023, Perseroan merealisasikan anggaran Rp2 miliar untuk 90 ekor       has realized the budget of Rp2 billion for 90 cows which were
sapi yang disebar ke 8 (delapan) Kabupaten dan 1 (satu) Kota di        given to 8 (eight) Districts and 1 (one) City in Central Kalimantan by
Kalimantan Tengah dengan target sasaran masyarakat kurang              targeting underprivileged communities, Islamic Boarding Schools
mampu, pondok pesantren dan kelompok rentan lainnya.                   and other vulnerable communities.




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       PROGRAM PENDIDIKAN
       EDUCATION PROGRAMS




       PENDIDIKAN                                                              EDUCATION

       Adalah program yang bertujuan untuk membantu meningkatkan               Is a program that aims to help improve the quality of education
       kualitas pendidikan masyarakat sekitar operasional sehingga             for communities around the operational area so that in the future
       ke depannya mereka bisa mendapatkan pekerjaan layak dan                 they can get decent jobs and improve the economy. This program
       meningkatkan perekonomian. Program ini sesuai dengan program            is in accordance with the Sustainable Development Goals (SDGs):
       Tujuan Pembangunan Berkelanjutan (TPB):
       No. 4-Kualitas Pendidikan yang Baik                                     No. 4-Good Quality Education
       No. 5-Kesetaraan Gender                                                 No. 5-Gender Equality
       No. 8-Pertumbuhan Ekonomi                                               No. 8-Economic Growth
       No. 10-Mengurangi Ketimpangan.                                          No. 10-Reducing Inequality.


       Perseroan telah merealisasikan anggaran untuk program ini               The Company has realized the budget for this program was of
       sebesar Rp9,5 miliar yang terdiri dari fasilitas pendidikan gratis 14   Rp9.5 billion which consist of 14 years of free education, Teacher
       tahun, Guru Bantu Desa dan Beasiswa Pendidikan.                         Assistance and Education Scholarship.



       Fasilitas Pendidikan Gratis 14 Tahun                                    14 Years of Free Education

       Hingga akhir tahun 2023, Perseroan telah membangun gedung               By the end of 2023, the Company has built 18 schools located in the
       sekolah sebanyak 18 sekolah yang terletak di area perkebunan            Company’s estate area, which was consisting of 10 kindergartens
       perusahaan yang terdiri dari 10 bangunan sekolah TK untuk               for early childhood education, 6 (six) elementaries for basic
       pendidikan anak usia dini, 6 (enam) bangunan sekolah SD untuk           education, 1 (one) junior high school and 1 (one) senior high
       pendidikan dasar, 1 (satu) bangunan sekolah SMP dan 1 (satu)            school/vocational with a total 2,621 students from the children
       bangunan sekolah SMA/SMK dengan jumlah siswa sebanyak                   of the Company’s employee and surrounding communities. The
       2.621 orang yang berasal dari anak-anak karyawan dan masyarakat         Company also provides housing facilities for teacher, and school
       dari desa-desa sekitar Perseroan. Perseroan juga menyediakan            buses.
       fasilitas perumahan guru dan transportasi antar jemput (bus
       sekolah).


       Guru Bantu Desa                                                         Teacher Assistance for Village


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Perseroan memberikan program Guru Bantu, yang diberikan            The Company provides Teacher Assistance program, which is
kepada sekolah di desa sekitar yang membutuhkan tenaga             given to schools in surrounding villages that need educators.
pendidik. Bentuk dari program ini adalah Perseroan memberikan      The form of this program is that Company provides incentives
insentif kepada guru dalam menjalankan tugas mengajarnya setiap    to teachers in carrying out their teaching duties every month
bulan termasuk Tunjangan Hari Raya, dan mengikutsertakan para      including Holiday Allowance, and engages teachers in training
guru dalam pelatihan-pelatihan dan peningkatan keterampilan        and skills improvement in teaching and educating students.
dalam mengajar dan mendidik Siswa. Pada tahun 2023, Perseroan      In 2023, Company records that there are around 148 assistant
mencatat terdapat sekitar 148 guru bantu yang tersebar di desa-    teachers spread across the surrounding villages.
desa sekitar.



Beasiswa Pendidikan                                                Education Scholarship

Perseroan memberikan program beasiswa kepada putra-putri           The Company provides a scholarship program for local students
daerah yang memiliki potensi dan keinginan yang kuat untuk         who have the potential and a strong desire to continue their
melanjutkan pendidikannya ke jenjang yang lebih tinggi. Pada       education to a higher level. In 2023, the Company has provided full
tahun 2023, Perseroan telah merealisasikan bantuan beasiswa        scholarship for 27 students. The scholarship programs provided
penuh kepada 27 mahasiswa. Program beasiswa yang diberikan         include tuition assistance, accommodation costs, and living
antar lain berupa bantuan biaya pendidikan, biaya pemondokan,      expenses assistance while studying, book assistance, final project
serta bantuan biaya hidup selama menempuh pendidikan,              assistance, and graduation assistance.
bantuan buku, bantuan tugas akhir, dan wisuda.


Adapun perguruan tinggi yang telah menjalin kerja sama             The Univerities that have collaboration in scholarship programs
beasiswa, antara lain:                                             include:


1. Universitas Terbuka, Pangkalan Bun.                             1. Open University, Pangkalan Bun.
2. Universitas Palangkaraya                                        2. Palangkaraya University
3. Politeknik LPP Yogyakarta                                       3. Politeknik LPP Yogyakarta
4. Sekolah Tinggi Pariwisata Ambarukmo Yogyakarta                  4. Ambarukmo Tourism Collge, Yogyakarta
5. Universitas Brawijaya                                           5. Brawijaya University
6. Universitas Muhammadiyah Malang                                 6. Muhammadiyah University, Malang
7. Universitas Antakusuma, Pangkalan Bun.                          7. Antakusuma University, Pangkalan Bun.
8. Instiper Yogyakarta                                             8. Instiper Yogyakarta
9. Universitas Tanjungpura                                         9. Tanjungpura University
10. Universitas Muhammadiya Palembang                              10. Muhammadiyah University, Palembang
11. Universitas Teknologi Yogyakarta                               11. Technology University, Yogyakarta
12. Universitas Muhammadiyah Yogyakarta                            12. Muhammadiyah University, Yogyakarta
13. Universitas Jendral Soedirman                                  13. Jendral Soedirman University
14. Universitas Muhammadiyah Semarang                              14. Muhammadiyah University, Semarang


Seluruh peserta beasiswa akan di-monitoring secara intensif        All scholarship studens will be monitored intensively by the
bersama pemerintah daerah dengan harapan ketika selesai            regional government, hopefully after completing their studies,
menjalani Pendidikan, anak-anak peserta beasiswa dapat menjadi     student can be a main pioneer in developing their respective
pionir utama dalam Pembangunan daerah masing-masing.               regions. This education scholarship has been implemented since
Kegiatan Beasiswa Pendidikan ini sudah berjalan sejak tahun 2012   2012 and has graduated more than 160 students and most of
dan telah meluluskan lebih dari 160 peserta didik yang sebagian    them has been working in the Company through Management
besar sudah menjadi karyawan Perusahaan melalui program            Trainee Programs.
Management Trainee.




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       PROGRAM KESEHATAN
       HEALTH PROGRAMS

       KESEHATAN                                                           HEALTH

       Adalah program yang bertujuan untuk meningkatkan kualitas           Is a program that aims to improve the health quality of the
       kesehatan masyarakat sekitar operasional sehingga tercipta          community around operations so as to create a healthy and
       kehidupan sehat dan sejahtera. Program ini sesuai dengan program    prosperous life. This program is in accordance with the Sustainable
       Tujuan Pembangunan Berkelanjutan (TPB): No. 3-Kesehatan dan         Development Goal (SDG) program No.3-Good Health and Well-
       Kesejahteraan.                                                      Being.


       Perseroan telah merealisasikan anggaran untuk program ini           The Company has realized the budget for this program was of
       sebesar Rp100 juta yang terdiri dari pengobatan gratis, khitanan    Rp100 million which consist of free medical, Mass Circumcision,
       massal, dan program stunting.                                       and Stunting Programs.


       Di tahun 2023, program kesehatan yang diselenggarakan               In 2023, the health programs organized by the Company include:
       Perseroan diantaranya:


       Pengobatan Gratis untuk Masyarakat                                  Free Medical for Communities

       Perseroan menyelenggarakan pengobatan gratis di Poliklinik          The Company organizes free medical treatment at the Plantation
       Perkebunan (Polibun) sebagai upaya untuk menjaga keselamatan        Polyclinic (Pilibun) to maintain the safety and health of workers
       dan kesehatan pekerja dan masyarakat. Polibun adalah klinik         and the community. Polibun is a health clinic of the Company
       kesehatan milik Perseroan yang diperuntukkan selain untuk           which is intended for employees and the surrounding community.
       Karyawan dan masyarakat sekitar. Pada tahun 2023, Perseroan         In 2023, the Company provided free medical treatment for 58
       telah memberikan penanganan kesehatan gratis untuk 58 pasien        inpatients and 853 outpatients with a total cost of Rp45,945,274,
       rawat inap dan 853 pasien rawat jalan dengan total biaya yang       increasing 21% from the previous year.
       dikeluarkan sebesar Rp45.945.274 naik 21% dari tahun sebelumnya.


       Sunat Massal Gratis                                                 Free Mass Circumcision

       Pada tahun 2023, Perseroan menyelenggarakan sunatan massal          In 2023, the Company organized free mass circumcisions in 2 (two)
       gratis yang dilakukan serentak di 2 (dua) Kabupaten yaitu           regencies at the same time namely Kotawaringin Barat Regency
       Kabupaten Kotawaringin Barat dan Kabupaten Lamandau. Jumlah         and Lamandau Regency. Total of circumcision participants was
       peserta sunat ada 70 anak dengan total biaya yang dikeluarkan       70 children with a total cost of Rp47,125,000 for free medical
       sebanyak Rp47.125.000 untuk fasilitas tenaga medis secara gratis,   personnel facilities, sarongs, study equipments, multivitamins
       sarung, alat belajar, multivitamin dan makanan penunjang untuk      and additional food to support the physical health of circumcision
       menjaga kesehatan fisik peserta sunat.                              participants.




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Program Stunting                                                    Stunting Programs

Untuk mengurangi angka stunting di Indonesia, Perseroan telah       With regards to reduce stunting rates in Indonesia, the Company
merealisasikan program pencegahan dan penurunan angka               has implemented a stunting prevention and reduction programs
stunting di 5 Desa di Kabupaten Kotawaringin Barat antara lain:     in 5 (five) villages in Kotawaringan Barat Regency namely Sulung
Desa Sulung, Desa Kenambui, Desa Runtu, Desa Rangda, dan            Village, Kenambui Village, Runtu Village, Rangda Village and
Desa Umpang dengan total anggaran sebesar Rp41.736.000              Umpang Village with a total budget of Rp41,736,000 fro additional
untuk tambahan nutrisi yaitu susu formula, dan multivitamin yang    nutrition, namely formula milk and multivitamins which are given
diberikan selama 3 bulan secara rutin. Kegiatan ini berkolaborasi   regularly for 3 months. This activity is in collaboration with District
dengan Dinas Kesehatan Kabupaten, dan Puskesmas Desa.               Health Service and Village Health Center.




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       PROGRAM LINGKUNGAN HIDUP
       ENVIRONMENTAL PROGRAMS

       PELESTARIAN LINGKUNGAN HIDUP                                     ENVIRONMENTAL PRESERVATION

       Adalah program yang bertujuan untuk meningkatkan kualitas        Is a program that aims to improve the quality of the environment
       kesehatan lingkungan di masyarakat sekitar operasional guna      in the communities around the operational areas to minimize
       meminimalkan dampak negatif dan menjaga kelestarian              negative impacts and maintain environmental sustainability. This
       lingkungan. Program ini sesuai dengan program Tujuan             program is in accordance with the Sustainable Development
       Pembangunan Berkelanjutan (TPB):                                 Goals (SDGs):
       No. 6-Air Bersih dan Sanitasi                                    No. 6-Clean Water and Sanitation
       No. 7-Akses ke Energi yang Terjangkau                            No. 7-Access to Affordable Energy
       No. 11-Pembangunan Berkelanjutan                                 No. 11-Sustainable Development
       No. 12-Konsumsi dan Produksi Berkelanjutan                       No. 12-Sustainable Consumption and Production
       No. 13-Mencegah Dampak Perubahan Iklim                           No. 13-Preventing the Effects of Climate Change
       No. 14-Menjagan Sumber Daya Laut                                 No. 14-Safeguarding Marine Resources
       No. 15-Menjaga Ekosistem Darat.                                  No. 15-Safeguarding Terrestrial Ecosystems.


       Perseroan telah merealisasikan anggaran untuk program ini        The Company has realized the budget for this program was of
       sebesar Rp0,7 miliar yang terdiri dari normalisasi sungai dan    Rp0.7 billion which consist of river normalization and planting and
       penanaman serta pengenalan bibit.                                introduction of seeds.


       Di tahun 2023, program lingkungan yang diselenggarakan           In 2023, the environmental programs organized by the Company
       Perseroan diantaranya:                                           include:


       Normalisasi Sungai                                               River Normalization

       Di tahun 2023, Perseroan telah melakukan Gerakan pembersihan     In 2023, the Company has conducted a movement to clean and
       dan normalisasi Sungai Arut di Pangkalan Bun. Kegiatan ini       normalize the Arut River in Pangkalan Bun, in collaboration with
       berkolaborasi dengan pemerintah Kecamatan Arut Selatan dan       the Arut Selatan District government and Environmental Service
       Dinas Lingkungan Hidup Kotawaringin Barat. Selain bergotong      of Kotawaringin Barat. In addition to working together with local
       royong dengan masyarakat sekitar, Perseroan juga menurunkan      communities, the Company also contributes in heavy equipment,
       alat berat, mendonasikan alat potong rumput, dan penanaman       donated grass cutting equipment and planted trees around the
       pagar hidup di sekitar bantaran sungai. Kegiatan ini dilakukan   riverbanks. This activity aimed to preserving the environment as
       dalam rangka pelestarian lingkungan hidup sekaligus pencegahan   well as preventing flood disaster in Pangkalan Bun.
       bencana banjir di wilayah kota Pangkalan Bun.




       Penanaman dan Pengenalan Bibit Usia Dini                         Planting and Introduction of Seeds for Young Children

       Sebagai Perusahaan Perkebunan, Perseroan menyadari               As a Plantation Company, the Company aware that maintaining
       pentingnya menjaga keberlangsungan lingkungan hidup. Atas        environmental sustainability is more importance. Therefore,
       dasar itu, Perseroan menyelenggarakan program penanaman dan      the Company organizes a planting and introducing of seeds
       pengenalan bibit tumbuhan untuk anak-anak usia dini. Sebanyak    program for young children. A total of 1,000 tree seeds and family
       1.000 bibit pohon dan tanaman obat keluarga yang telah ditanam   medicinal plants have been planted by the Company on estate
       baik di wilayah perkebunan maupun di area masyarakat sekitar.    and surrounding community areas.




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PROGRAM INFRASTRUKTUR
INFRASTRUCTURE PROGRAMS

INFRASTRUKTUR                                                    INFRASTRUCTURE
                                                                 
Adalah program yang bertujuan untuk meningkatkan                 Is a program that aims to improve the economy of the surrounding
perekonomian masyarakat sekitar melalui pembangunan              community through infrastructure development. This program is
infrastruktur. Program ini sesuai dengan program Tujuan          in accordance with the Sustainable Development Goals (SDGs):
Pembangunan Berkelanjutan (TPB):
No. 1-Menghapus Kemiskinan                                       No. 1-Eradicating poverty
No. 8-Pertumbuhan ekonomi                                        No. 8-Economic growth
No. 9-Inovasi dan infrastruktur                                  No. 9-Innovation and infrastructure
No. 11-Pembangunan berkelanjutan.                                No. 11-Sustainable development.


Perseroan telah merealisasikan anggaran untuk program ini        The Company has realized the budget for this program was of Rp2
sebesar Rp2 miliar yang terdiri dari pembangunan infrastruktur   billion which consist of infrastructure construction for urban and
jalan perkotaan dan pedesaan, serta perbaikan dan pembangunan    rural roads, as well as repair and construction of religious facilities.
sarana ibadah.


Di tahun 2023, program infrastruktur yang diselenggarakan        In 2023, the infrastructure programs organized by the Company
Perseroan diantaranya:                                           include:



Pembangunan        infrastruktur Jalan     Perkotaan     dan     Infrastructure Construction for Urban and Rural Roads
Pedesaan

Dalam rangka memudahkan mobilitas warga sekitar perusahaan       In order to facilitate the mobility of residents around the Company
sekaligus meningkatkan kesejahteraan masyarakat, Perseroan       as well as to improve the Community welfare, the Company
membantu pembangunan dan perbaikan jalan dengan anggaran         assists road construction and repair with a budget of Rp1.3 billion.
sebesar Rp1,3 miliar. Adapun jalan dan jembatan di desa yang     The village that have been received road and bridge repairs are:
telah diperbaiki adalah:


1.   Desa Kondang                                                1.   Kondang Village
2.   Desa Batu Kotam                                             2.   Batu Kotam Village
3.   Desa Kenambui                                               3.   Kenambui Village
4.   Kelurahan Baru                                              4.   Baru Village
5.   Kelurahan Raja                                              5.   Raja Village
6.   Kelurahan Sidorejo                                          6.   Sidorejo Village
7.   Kelurahan Madurejo                                          7.   Madurejo Village




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       Perbaikan dan Pembangunan Sarana Ibadah                            Repair and Construction of Religious Facilities

       Perseroan memfasilitasi masyarakat dalam pemenuhan kebutuhan       The Company facilitates the community in fulfilling an appropriate
       tempat ibadah yang layak di sekitar area operasional. Pada tahun   place of worship around operational areas. In 2023, the Company
       2023, Perseroan telah berpartisipasi dalam pembangunan dan         has contributed in construction and repair of religious facilities
       perbaikan tempat ibadah dengan total anggaran sebesar Rp2,45       with a total budget of Rp2.45 billion. This development is spread
       miliar. Pembangunan tersebut tersebar ke beberapa tempat           across in several places, namely:
       ibadah, yaitu:


       1. Masjid Nurul Fallah Desa Sulung                                 1. Nurul Fallah Mosque in Sulung Village
       2. Masjid Nurul Jihad Desa Kenambui                                2. Nurul Jihad Mosque in Kenambui Village
       3. Masjid Desa Umpang                                              3. Mosque in Umpang Village
       4. Masjid Nor Hikmah Desa Kanamit                                  4. Nor Hikmah Mosque in Kanamit Village
       5. Masjid Al-Ikhsan Desa Batuah                                    5. Al-Ikhsan Mosque in Batuah Village
       6. Masjid Jami` Ar-Rohman Desa Gadabung                            6. Jami` Ar-Rohman Mosque in Gadabung Village
       7. Rumah Pastori Desa Pedongatan                                   7. Pastoral House in Pedongatan Village
       8. Gereja Desa Batu Ampar                                          8. Church in Batu Ampar Village
       9. Gereja Imanuel Desa Natai Baru                                  9. Imanuel Church in Natai Baru Village
       10. Masjid Al Fajar Desa Karya Bersama                             10. Al Fajar Mosque in Karya Bersama Village
       11. Musholla Ar-Rahmat Pangkalan Bun                               11. Ar-Rahmat Prayer Room in Pangkalan Bun
       12. Mushola Baiturrohman Desa Sumber Cahaya                        12. Baiturrohman Prayer Room in Sumber Cahaya Village
       13. Pondok Pesantren Al- Hamidy Kotawaringin Barat                 13. Al- Hamidy Boarding School in Kotawaringin Barat
       14. Masjid Darul Ubudiyah Desa Rungun                              14. Darul Ubudiyah Mosque in Rungun Village
       15. Mushollah Lanud Pangkalan bun                                  15. Lanud Prayer Room in Pangkalan bun
       16. Gereja Desa Merambang                                          16. Church in Merambang Village
       17. Gereja Katolik Stasi Santo Antonius Maria Claret Toka          17. Catholic Church of Stasi Santo Antonius Maria Claret Toka
       18. Masjid An Noor Ds Budi Mufakat                                 18. An Noor Mosque in Budi Mufakat Village
       19. Masjid Sirajul Munir Desa Terusan Raya Hulu                    19. Sirajul Munir Mosque in Terusan Raya Hulu Village
       20. Musholla Ahmad Saleh di kelurahan Pembuang Hulu I              20. Ahmad Saleh Prayer Room in Pembuang Hulu I Village




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PROGRAM PEMBERDAYAAN MASYARAKAT
COMMUNITY EMPOWERMENT PROGRAMS

PEMBERDAYAAN DAN PENGEMBANGAN MASYARAKAT                             COMMUNITY EMPOWERMENT & DEVELOPMENT

Adalah program yang bertujuan untuk meningkatkan nilai tambah        Is a program that aims to increase add value of each region’s
pada setiap potensi daerah dan memberikan kemandirian                potential and provide the economic independent to local
ekonomi pada komunitas lokal melalui pemberdayaan dan                communities by community empowering and development. This
pengembangan masyarakat. Program ini sesuai dengan program           program is in accordance with the Sustainable Development
Tujuan Pembangunan Berkelanjutan (TPB):                              Goals (SDGs):
No. 1-Menghapus kemiskinan                                           No. 1-Eradicating poverty
No. 2-Mengakhiri kelaparan                                           No. 2-Ending hunger
No. 3-Kesehatan dan kesejahteraan                                    No. 3-Health and welfare
No. 4-Kualitas pendidikan yang baik                                  No. 4-Good quality education
No. 5-Kesetaraan Gender                                              No. 5-Gender Equality
No. 8-Pertumbuhan ekonomi                                            No. 8-Economic growth
No. 10-Mengurangi ketimpangan                                        No. 10-Reducing inequality
No. 17-Revitalisasi kemitraan global.                                No. 17-Revitalizing global partnerships.


Perseroan telah merealisasikan anggaran untuk program ini            The Company has realized the budget for this program was of
sebesar Rp3,7 miliar untuk 47 desa binaan yang tersebar di           Rp3.7 billion for 47 assisted villages spread throughout Regional
seluruh Regional. Mengusung tema Creating Shared Value (CSV),        areas. With theme a Creating Shared Value (CSV), the flow of this
alur pembinaan program ini adalah:                                   program development is:


1.  Penelitian dan pemetaan sosial terhadap Desa Ring 1 Perusahaan   1.   Research and social mapping to the Company’s Ring 1 villages
2.  Melakukan analisis risiko                                        2.   Conduct risk analysis
3.  Melakukan pendekatan berbasis Sustainable Livelihood             3.   Carried out a Sustainable Livelihood Approach (SLA)-based
    Approach (SLA)
4. Focus Group Discussion (FGD) multi-Stakeholder (Pemerintah-       4.  Focus Group Discussion (FGD) for multi-Stakeholder
    Kelompok Masyarakat-Perusahan)                                       (Government-Community-Company)
5. Melakukan Assessment intesif                                      5. Conduct an intensive assessment
6. Pemberian bantuan sesuai dengan potensi daerah dan kelompok       6. Provide assistance according to regional and group potential
7. Pelatihan pemasaran                                               7. Marketing training
8. Peningkatan kapasitas kelompok                                    8. Improving group capacity
9. Monitoring Evaluasi                                               9. Evaluation Monitoring
10. Perhitungan Dampak Program melalui metode analisis Social        10. Calculation of Program Impact by using Social Return on
    Return on Investment (SROI)                                          Investment (SROI)


Di tahun 2023, program pemberdayaan yang diselenggarakan             In 2023, the empowerment programs organized by the Company
Perseroan diantaranya:                                               include:


Kelompok Keterampilan Disabilitas                                    Skills Group for Disabilities

Program Keterampilan Disabilitas merupakan program inisiatif         Skills program for disabilities is the Company’s initiative to provide
Perseroan untuk memberikan kesempatan kepada semua anak              opportunities for all children to get quality education, including
termasuk anak yang berkebutuhan Khusus di Sekolah Luar               children with special needs in an Extraordinary School (“SLB”).
Biasa (“SLB”) untuk mendapatkan Pendidikan yang berkualitas.         Therefore, the Company provides skills training such as Dream
Oleh karena itu, Perseroan memberikan pelatihan keterampilan         Catcher, String Art and batik skills training for children with special
diantaranya Dream Cacher, String Art dan membatik untuk anak         needs.
berkebutuhan Khusus.


Pada program ini Perusahaan mengirim Pembina ke salah satu           At this program, the Company sent a coach to one of SLB School
sekolah SLB yaitu SLB Negeri 2 Pangkalan Bun dalam rangka            namely SLB Negeri 2 Pangkalan Bun to improve their artistic skills
untuk meningkatkan keterampilan seni bidang String Art, dan          in the field of String Art, and by providing several other supporting
memberikan beberapa peralatan pendukung lainnya.                     equipment.


Hasil dari keterampilan anak yang berkebutuhan Khusus (SLB) ini      The art results of these children with special needs were displayed
di tampilkan di beberapa event dan expo yang ada di Kalimantan       in several events and expos in Central Kalimantan, one of which
Tengah, salah satunya adalah Festival Inovasi dan Kewirausahaan      was the Indonesian Student Innovation and Entrepreneurship
Siswa Indonesia bagi SLB Kalimantan Tengah dan meraih juara 3        Festival for SLB in Central Kalimantan and won the third place.
besar.
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       Kelompok Kerajinan Purun “Karya Bhakti” Natai Baru                    Purun Craft Group “Karya Bhakti” Natai Baru

       Berdasarkan hasil Pemetaan Sosial yang dilakukan di wilayah Desa      Based on the results of the Social Mapping carried out in the Natai
       Natai Baru, Kecamatan Arut Selatan, Kabupaten Kotawaringin            Baru Village area, the Company found potential purun plant assets
       Barat, Perseroan menemukan potensi aset tanaman purun seluas          of 300 hectares. This natural resource potential is also supported
       300 hektar. Potensi Sumber Daya Alam tersebut didukung juga           by a number of women who can be involved in the Purun-based
       dengan surplus ibu-ibu usia produktif yang dapat terlibat dalam       craft program.
       Program Kerajinan berbahan baku Purun.


       Perseroan membuat program kelompok Pengrajin Purun “Karya             The Company created a group program for the Purun Craftsmen
       Bhakti” yang beranggotakan 10 orang dan telah melakukan               “Karya Bhakti” group consisting of 10 people and has provided
       pendampingan yang menghasilkan beberapa produk dengan                 assistance to produce several products By utilizing purun plant
       memanfaatkan bahan baku tanaman purun. Kelompok ini sudah             raw materials. This group has managed to produce a grass straw
       berhasil memproduksi grass straw atau sedotan Banua Purun,            or Banua Purun straw, an eco-friendly straw as a substitute
       sebuah sedotan ramah lingkungan sebagai pengganti sedotan             for conventional plastic straws. In addition, this group also has
       plastik konvensional. Selain itu, kelompok ini juga telah membuat     created woven mats, hats, baskets, bags and other handicraft
       anyaman tikar, topi, bakul, tas serta produk kerajinan lainnya yang   products that have economic value.
       memiliki nilai ekonomis.


       Kelompok Jahit Desa Natai Baru                                        Sewing Group of Natai Baru Village

       Perseroan juga menemukan potensi penjahit di Desa Natai Baru,         The Company also found sewing potential in Natai Baru Village,
       Kecamatan Arut Selatan dengan total anggota kelompok Jahit            Arut Selatan Regency with a total of 15 members of Natai Baru
       Natai Baru sebanyak 15 orang. Sepanjang tahun 2023 Perseroan          Sewing Group. Throughout 2023, the Company has carried out
       telah melakukan pembinaan antara lain pelatihan inklusif sebanyak     couching among others 36 inclusive trainings by expert trainers to
       36 kali dengan mendatangkan pelatih ahli untuk meningkatkan           improve group skills. The Company also contributes in purchasing
       keterampilan kelompok. Perseroan juga berkontribusi dalam             of sewing machines, overlock machines and other equipment to
       pengadaan mesin jahit, mesin obras, dan perlengkapan lainnya          support group productivity.
       untuk menunjang produktivitas kelompok.




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Kelompok Peternakan Mandiri                                           Independent Livestock Community

Sejak tahun 2022, Perseroan telah menemukan potensi budidaya          Since 2022, the Company found the potential in chicken cultivation
Ayam Kampung di Dusun Tonam. Program ini terus berlanjut              in Tonam Village. This program is still continuing to date and has
hingga saat ini dan telah memberdayakan 16 peternak dengan            empowered 16 farmers with a total of 500 free-range chickens.
jumlah 500 ekor budidaya ayam kampung.


Perseroan juga mendorong para kelompok agar berkolaborasi             The Company encourages the groups to collaborate with relevant
dengan stakeholder relevan untuk percepatan pengembangan              stakeholders to accelerate the development of the quality of
kualitas bibit ayam serta monitoring kesehatan ayam secara            chickens and to periodically monitor the health of chickens. The
periodik. Selain bibit ayam kampung, Perseroan juga memberikan        Company also provides several other facilities and infrastructure,
beberapa sarana dan prasarana antara lain, pakan hingga               namely feeding up to the termination stage and vitamins.
tahap terminasi dan vitamin. Saat ini, kelompok peternakan            Currently, Independent livestock community in Tonam Village
mandiri Dusun Tonam terus melakukan pengembangan dengan               continues to develop by adding broody for natural and electrical
menambah indukan untuk penetasan secara alami serta                   hatching (using machines).
penetasan secara elektrikal (menggunakan mesin tetas).


Kelompok Perkebunan Gula Aren                                         Community of Palm Sugar Plantation

Perseroan menemukan potensi sumber daya alam berupa pohon aren        Palm sugar trees that stretch widely in Lalang Village, Kotawaringin
yang membentang luas di Desa Lalang, Kecamatan Kotawaringin           Lama District, Kotawaringan Barat Regency are potential resources
Lama, Kabupaten Kotawaringin Barat. Desa dengan luas 1.126,6 ha ini   that Company found. 329 people who live in an area of 1,126.6 ha
memiliki populasi sebanyak 329 jiwa yang menggantungkan kegiatan      have put his economic life in Palm Sugar Plantation.
ekonominya melalui tanaman Aren atau Nira.


Tanaman aren menghasilkan air lahang yang nantinya                    Palm sugar is made from lahang water which is produced by
dimanfaatkan menjadi bahan baku utama dalam memproduksi               palm sugar plants. By this condition, the Company has conducted
gula aren. Melihat potensi ini, Perseroan melakukan pemberdayaan      community empowerment and development to people in Lalang
dan pengembangan masyarakat Desa Lalang yang bekerja sama             Village that have collaboration with the village government.
dengan pemerintah Desa.


Saat ini masyarakat Desa Lalang telah menjalani tahapan               Currently, the community of Lalang Village has undergone
engagement, pembentukan dan penguatan kelompok. Ke depan,             phases of engagement, establishment and reinforcement. After
Perseroan akan melakukan pelatihan dan pendampingan kepada            that, the Company will provide training and coaching to people in
masyarakat Desa Lalang untuk dapat meningkatkan produksinya           Lalang Village to improve their production as well as innovate the
sekaligus berinovasi melahirkan produk turunan lainnya.               derivative products.




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       Kelompok Budidaya Perikanan Mandiri                                  Community of Independent Fisheries Cultivation

       Perseroan memiliki inisiatif dalam mengelola sumber daya alam        The Company has an initiative in managing natural resources
       berupa sungai dan danau di Kalimantan Tengah, yaitu dengan           in the form of rivers and lakes in Central Kalimantan, namely by
       mengembangkan pola pemberdayaan masyarakat pada desa-                developing a pattern of community empowerment in villages
       desa sekitar perusahaan melalui program pendampingan                 around the Company through a freshwater fish farming program.
       budidaya ikan air tawar.


       Dari hasil social mapping pada stakeholders di sekitar operasional   From social mapping results on stakeholders in 2023, the Company
       Perseroan di tahun 2023, Perseroan berinisiasi melaksanakan          initiate economic empowerment activities, include:
       kegiatan pemberdayaan ekonomi diantaranya:


       1.   Kelompok budidaya ikan di Dusun Suayap yang                     1.   The fish cultivation group in Suayap, which has 24 members,
            beranggotakan 24 orang, telah menerima bantuan bibit ikan            received fish seeds of 3,000 catfish and 3,000 pomfret
            sebanyak 3.000 ekor ikan patin dan 3.000 ikan bawal yang             managed by the Suayap Village group using nets.
            dikelola oleh kelompok Desa Dusun Suayap menggunakan
            media kerambah;
       2.   Kelompok Budidaya ikan Mandiri di Desa Nanuah dengan            2.   The fish cultivation group in Nanuah Village received 6,000
            memberikan bibit ikan sebanyak 6.000 bibit ikan patin yang           catfish seeds which were managed by 2 groups with a total of
            di kelola oleh 2 kelompok dengan jumlah 10 orang. Budidaya           10 people. The ultivation was carried out using nets.
            dilakukan dengan menggunakan media kerambah;
       3.   Kelompok Budidaya Perikanan Mandiri di Desa Pedongatan          3.   The fish cultivation group in Pedongatan Village received
            dengan memberikan bibit ikan sebanyak 3.000 bibit ikan               3,000 catfish seeds managed by 1 Pedongatan Village group
            patin yang dikelola oleh 1 kelompok Desa Pedongatan yang             with a total of 6 people using cement ponds.
            berjumlah 6 orang dengan menggunakan media kolam
            semen;
       4.   Budidaya Perikanan Mandiri Desa Nanga Koring dengan             4.   The fish cultivation group in Nanga Koring Village received
            memberikan bibit ikan sebanyak 500 ekor ikan patin dan 500           500 catfish seeds and 500 iridescent shark catfish seeds
            ekor ikan lele yang dikelola menggunakan media kolam tanah           which were managed using earthen pond media by 1 Nanga
            oleh 1 kelompok desa Nanga Koring dengan Jumlah 6 orang.             Koring village group with a total of 6 people.


       Perseroan mendukung program budidaya Perikanan yang                  The Company supports sustainable fisheries cultivation programs
       berkelanjutan dengan memberikan pendampingan, monitoring             by providing assistance, monitoring and periodically evaluating
       dan evaluasi program secara berkala, termasuk penyediaan bibit       program, including the provision of fish seeds, nets, drums and
       ikan, sarana jaring, drum dan sarana lainnya.                        other facilities.




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Budidaya Semangka dan Hortikultura                                 Watermelon Cultivation and Horticulture

Perseroan melaksanakan program budidaya semangka dan               The Company carries out a watermelon cultivation and
hortikultura di Desa Sumber Cahaya yang merupakan salah satu       horticulture programs in Sumber Cahaya Village, which is one of
Desa di ring 1 PT Mirza Pratama Putra, anak perusahaan PT Sawit    vilages in ring 1 of PT Mirza Pratama Putra, a subsidiary of PT Sawit
Sumbermas Sarana Tbk. Dengan memanfaatkan lahan pertanian          Sumbermas Sarana Tbk. By utilizing 8 hectares of agricultural
seluas 8 hektar, Perseroan telah merealisasikan anggaran sebesar   land, the Company has realized a budget of Rp59,915,000 for the
Rp59.915.000 untuk pengadaan sarana prasarana kelompok tani,       procurement of farmer group infrastructure, purchasing seeds,
pembelian bibit, pupuk, kemasan hingga pemasaran yang di           fertilizers, packaging to marketing integrated with plantations.
integrasikan dengan perkebunan.


Program budidaya semangka adalah salah satu program unggulan       Watermelon cultivation program is one of superior programs
yang memiliki tujuan ketahanan pangan dan keberlanjutan            that aimed to food security and economic sustainability of group
ekonomi kelompok secara mandiri. Pada bulan Desember 2023          independently. In December 2023, the Company with farmer
Perseroan bersama kelompok tani berhasil melaksanakan panen        groups has managed the first harvest of 25 tons of watermelon.
Perdana dengan hasil panen mencapai 25 ton semangka.




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       Program Penangkaran Bibit Padi Unggul                                Rice Seed Breeding Group

       Perseroan melihat potensi lahan pertanian Desa Sumber Cahaya,        The Company sees that the potential for agricultural land in
       Belantikan Raya, Lamandau belum diimbangi oleh kualitas benih        Sumber Cahaya Village has not been matched by the quality of
       padi unggulan. Oleh karena itu, Perseroan menyelenggarakan           superior rice seeds. Therefore, the Company organizes community
       program pemberdayaan masyarakat di bidang penangkaran                development programs in rice seed breeding.
       benih padi.


       Penangkaran benih lokal merupakan upaya untuk menghasilkan           Breeding local seeds is an effort to produce superior seeds as
       benih unggul sebagai benih sumber maupun benih sebar yang            source seeds and spread seeds which will be used to produce
       akan digunakan untuk menghasilkan tanaman varietas unggul.           superior varieties of plants.


       Di tahun 2023, Perseroan telah memberikan bantuan benih padi         In 2023, the Company has provided Inpari 30 rice seeds, fertilizers,
       jenis Inpari 30, penyerahan bantuan pupuk, racun hama dan            pest poisons and other supporting infrastructure managed
       prasarana pendukung lainnya yang dikelola oleh kelompok              by Harapan Maju Dua group in the Sumber Cahaya Village. In
       Harapan Maju Dua di Desa sumber Cahaya. Tak hanya itu,               addition, this program is also accompanied by a Collaborative
       program ini juga menyediakan metode Collaborative Learning,          Learning method where between members of farmer groups and
       di mana antar anggota kelompok tani dengan para stakeholder          related stakeholders can learn each other through Focus Group
       terkait dapat saling belajar melalui Focus Group Discussion (FGD).   Discussion (FGD). Thus, the farmer may optimize the resources, as
       Dengan demikian para petani dapat mengoptimalkan resource            well as minimize the further obstacles.
       yang dimiliki, serta meminimalisir kendala yang akan terjadi


       Pada Praktiknya, penanaman ini mampu menghasilkan 3,5 Ton            In practice, this planting may produce of 3.5 tonnes of rice per
       beras per hektar yang akan didistribusikan penjualannya di daerah    hectare which will be distributed for sale in the Lamandau area
       Lamandau dan juga dipasarkan ke wilayah Kalimantan Tengah.           and Central Kalimantan region.




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Budidaya Nanas Desa Tarung Manuah                                  Pineapple Cultivation in Tarung Manuah Village

Program budidaya lain yang sedang dikembangkan oleh                The Company develops another cultivation program with
Perseroan bersama masyarakat Desa Tarung Manuah adalah             the Community in Tarung Manuah Village, namely pineapple
program budidaya nanas. Perseroan bekerja sama dengan pelatih      cultivation program. The Company collaborates with trainers and
dan tim ahli untuk meningkatkan nilai dan kualitas produk nanas    experts to improve the calue and quality of pineapple products
menjadi beberapa turunan produk, antara lain; sirup nanas, selai   into several product derivatives, including: pineapple syrup,
nanas, dodol nanas, permen nanas, dan sambal berbahan dasar        pineapple jam, pineapple dodol, pineapple candy and pineapple-
nanas.                                                             based chili sauce.


Dengan anggaran sebesar Rp54.140.000, Perseroan telah              With a budget of Rp54,140,000, the Company has provided training
menyediakan pelatihan dan peningkatan kapasitas kelompok,          and increase a group capacity, procurement of infrastructure,
pengadaan sarana prasarana, alat produksi, pembelian bibit,        production equipment, purchase of seeds, fertilizer, packaging
pupuk, kemasan hingga legalitas perijinan produk.                  and legality of product license.


Harapannya, produk turunan dari budidaya nanas ini dapat           Hopefully, this derivative product from pineapple cultivation can
menembus pasar di sekitar Kalimantan Tengah.                       penetrate markets around Central Kalimantan.




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       Kerajinan Anyaman Bawi Harati                                     Bawi Harati Woven Crafts

       Salah satu kearifan lokal yang ada di Kecamatan Maliku,           One of the local wisdoms in Maliku District, Pulang Pisau Regency
       Kabupaten Pulang Pisau adalah Manjawet (menganyam rotan)          is Manjawet (rattan weaving) which is the livelihood of residents in
       yang menjadi mata pencaharian warga di Desa Kanamit. Atas         Kanamit Village. By this reason, the Company initiates to establish
       dasar itu, Perseroan melakukan inisiasi pembentukan kelompok      a weaving group by providing training and coaching, marketing for
       pengrajin dengan memberikan pelatihan dan bimbingan,              various innovative products, providing machines, tools and other
       pemasaran berbagai macam produk inovatif yang dihasilkan,         supporting materials.
       memberikan mesin, peralatan dan material pendukung lainnya.


       Hingga tahun 2023, kelompok penerima manfaat ini telah            Until 2023, the beneficiary group received an increase in income
       menerima peningkatan pendapatan sebesar Rp4.160.000 per           amounting to Rp4,160,000 per month from rattan craft products
       bulan dari produk kerajinan rotan yang memang sangat melimpah     are very abundant in the village.
       ruah di desa tersebut.



       Kopi Gambut Tahulu Desa Talio Hulu Khas Kalimantan                Tahulu Peat Coffee, Talio Hulu Village, Characteristic of
       Tengah                                                            Central Kalimantan

       Dalam rangka mengembangkan kearifan lokal, Perseroan              To develop local wisdom, the Company together with the Industry,
       bersama Disperindagkop Kabupaten Pulang Pisau, Kalimantan         Trade and Cooperative Office of Pulang Pisau Regency carried out
       Tengah, melaksanakan bimtek strategi marketing dan                technical guidance on marketing strategies and strengthening
       penguatan kelompok pada kelompok tani kopi di Desa Talio          coffee farmer groups in Talio Hulu Village, consisting of 10
       Hulu yang beranggotakan 10 orang. Perseroan juga melakukan        members. The Company is also developing packaging so that
       pengembangan kemasan sehingga produk mempunyai tampilan           the product has a premium appearance. With assistance from
       jenis premium. Dengan pendampingan dari Perseroan, produk         the Company, coffee products grown on peatlands have been
       kopi dari Talio Hulu telah memiliki berbagai sertifikasi hingga   certified up to halal certification.
       sertifikasi halal.


       “Kopi Tahulu” telah berhasil dipasarkan ke berbagai daerah di     “Tahulu Coffee” has been successfully marketed to various
       Indonesia. Dengan pemberdayaan ini, kelompok tani kopi Talio      regions in Indonesia. With this empowerment, the Talio Hulu
       Hulu telah menerima peningkatan pendapatan setiap bulannya        coffee farmer group has received an increase in monthly income
       sebesar Rp3.777.000.                                              of IDR 3,777,000.




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PENGAKUAN EKSTERNAL TERHADAP PROGRAM CSR PERSEROAN
EXTERNAL RECOGNITION OF COMPANY’S CSR PROGRAMS

Sepanjang tahun 2023, Perseroan merealisasikan berbagai                Throughout 2023, Company realizes various Environmental and
program Tanggung Jawab Sosial dan Lingkungan (“TJSL”). Atas            Social Responsibility programs. For its dedication and consistency,
dedikasi dan konsistensinya itu, Perseroan meraih beberapa             the Company won several awards as the recognition from external
penghargaan yang merupakan pengakuan pihak eksternal                   parties for the Company’s CSR programs, including:
Perseroan atas program-program CSR Perseroan, antara lain:



                        1 JANUARI 2023                                                         15 AGUSTUS 2023
                        January 1, 2023                                                         August 15, 2023




   SSMS meraih 7 (tujuh) penghargaan (Awards) untuk program Sosial           SSMS dianugerahi penghargaan Silver Champion Category of
      Budaya, Pendidikan, dan Infrastruktur serta kepatuhan terkait       Economy Element - Bidang Ekonomi Kreatif berbasis Kearifan Lokal,
  pelaporan LKPM tepat waktu tahun 2023 dari Pemerintah Kabupaten         dalam ajang Bisnis Indonesia Corporate Social Responsibility Awards
                              Lamandau.                                                          (BISRA) tahun 2023.

  SSMS won 7 awards for Socio-Cultural, Education and Infrastructure       SSMS awarded Silver Champion Category of Economy Element –
    programs as well as compliance related to timely 2023 LKPM            Creative Economy based on Local Wisdom on the Bisnis Indonesia
         reporting from Government of Lamandau District.                         Corporate Social Responsibility Awards (BISRA) 2023




                        3 OKTOBER 2023                                                        30 NOVEMBER 2023
                         October 3, 2023                                                      November 30, 2023




     SSMS meraih 3 (tiga) penghargaan untuk Program Kesehatan,              SSMS meraih penghargaan CSR Indonesia Awards 2023 Kategori
   Program Lingkungan & CSR, Program Infrastruktur dari pemerintah         Emas yang diselenggarakan oleh Majalah CSR Indonesia & Media
                daerah Kabupaten Kotawaringin Barat.                        Online CSR-Indonesia.com dan Meprindo Communications yang
                                                                                       digelar di Daerah Istimewa Yogyakarta.
       SSMS won 3 (three) awards for Health Programs, CSR &
     Environmental Programs, Infrastructure Programs from Local           SSMS won awards in CSR Indonesia Awards 2023 for Gold Category
            Government of Kotawaringin Barat Regency.                        which held by Indonesia CSR Magazine & Online Media CSR-
                                                                           Indonesia.com and Meprindo Communications in Special Region
                                                                                                    Yogyakarta.




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 LAPORAN
KEUANGAN
FINANCIAL STATEMENT




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                                         PT Sawit Sumbermas Sarana Tbk.
                                         dan entitas anaknya/and its subsidiaries

                                         Laporan keuangan konsolidasian tanggal 31 Desember 2023
                                         dan untuk tahun yang berakhir pada tanggal tersebut
                                         beserta laporan auditor independen/
                                         Consolidated financial statements as of December 31, 2023
                                         and for the year ended with independent auditor’s report




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                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA TBK.                                                            PT SAWIT SUMBERMAS SARANA TBK.
             DAN ENTITAS ANAKNYA                                                                         AND ITS SUBSIDIARIES
       LAPORAN KEUANGAN KONSOLIDASIAN                                                            CONSOLIDATED FINANCIAL STATEMENTS
         TANGGAL 31 DESEMBER 2023 DAN                                                                AS OF DECEMBER 31, 2023 AND
          UNTUK TAHUN YANG BERAKHIR                                                                     FOR YEAR THEN ENDED
            PADA TANGGAL TERSEBUT                                                                WITH INDEPENDENT AUDITOR’S REPORT
      BESERTA LAPORAN AUDITOR INDEPENDEN


                                Daftar Isi                                                                   Table of Contents


                                                                         Halaman/
                                                                          Page

Surat Pernyataan Direksi                                                                                      Board of Directors’ Statement Letter

Laporan Auditor Independen                                                                                           Independent Auditor’s Report

Laporan Posisi Keuangan Konsolidasian....................                  1-3         ….............. Consolidated Statement of Financial Position

Laporan Laba Rugi dan Penghasilan                                                                              Consolidated Statement of Profit or Loss
    Komprehensif Lain Konsolidasian .......................                4-5         ............................. and Other Comprehensive Income

Laporan Perubahan Ekuitas Konsolidasian ................                      6        .….……… Consolidated Statement of Changes in Equity

Laporan Arus Kas Konsolidasian ...............................             7-8         .………………….Consolidated Statement of Cash Flows

Catatan atas Laporan Keuangan                                                                                                   Notes to the Consolidated
    Konsolidasian.....................................................    9 - 172 ................................................. Financial Statements



                                                                    **************************




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                                                            The original report included herein is in the Indonesian language.




Laporan Auditor Independen                              Independent Auditor’s Report

Laporan No.      00364/2.1032/AU.1/01/0687-             Report    No.           00364/2.1032/AU.1/01/0687-
4/1/III/2024                                            4/1/III/2024


Pemegang Saham, Dewan Komisaris, dan Direksi            The Shareholders     and    the                      Boards          of
PT Sawit Sumbermas Sarana Tbk.                          Commissioners and Directors
                                                        PT Sawit Sumbermas Sarana Tbk.

Opini                                                   Opinion

Kami telah mengaudit laporan keuangan                   We have audited the accompanying consolidated
konsolidasian PT Sawit Sumbermas Sarana Tbk.            financial statements of PT Sawit Sumbermas
“Perseroan” dan entitas anaknya (secara kolektif        Sarana Tbk. (the “Company”) and its subsidiaries
disebut sebagai “Kelompok Usaha”) terlampir,            (collectively referred to as the “Group”), which
yang terdiri dari laporan posisi keuangan               comprise the consolidated statement of financial
konsolidasian tanggal 31 Desember 2023, serta           position as of December 31, 2023, and the
laporan laba rugi dan penghasilan komprehensif          consolidated statement of profit or loss and other
lain konsolidasian, laporan perubahan ekuitas           comprehensive income, consolidated statement of
konsolidasian, dan laporan arus kas konsolidasian       changes in equity, and consolidated statement of
untuk tahun yang berakhir pada tanggal tersebut,        cash flows for the year then ended, and notes to
serta    catatan     atas   laporan    keuangan         the consolidated financial statements, including
konsolidasian, termasuk informasi kebijakan             material accounting policy information.
akuntansi material.

Menurut opini       kami,  laporan    keuangan          In our opinion, the accompanying consolidated
konsolidasian terlampir menyajikan secara wajar,        financial statements present fairly, in all material
dalam semua hal yang material, posisi keuangan          respects, the consolidated financial position of
konsolidasian     Kelompok     Usaha    tanggal         the Group as of December 31, 2023 and its
31 Desember 2023, serta kinerja keuangan dan            consolidated financial performance and cash flows
arus kas konsolidasian nya untuk tahun yang             for the year then ended, in accordance with
berakhir pada tanggal tersebut, sesuai dengan           Indonesian Financial Accounting Standards.
Standar Akuntansi Keuangan di Indonesia.




                                                    i




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                      Laporan Auditor Independen (lanjutan)                    Independent Auditor’s Report (continued)

                      Laporan No. 00364/2.1032/AU.1/01/0687-                   Report    No.     00364/2.1032/AU.1/01/0687-
                      4/1/III/2024 (lanjutan)                                  4/1/III/2024 (continued)


                      Basis opini                                              Basis for opinion

                      Kami melaksanakan audit kami berdasarkan                 We conducted our audit in accordance with
                      Standar Audit yang ditetapkan oleh Institut              Standards on Auditing established by the
                      Akuntan Publik Indonesia (“IAPI”). Tanggung              Indonesian Institute of Certified Public Accountants
                      jawab kami menurut standar tersebut diuraikan            (“IICPA”). Our responsibilities under those
                      lebih lanjut dalam paragraf Tanggung Jawab               standards are further described in the Auditor’s
                      Auditor terhadap Audit atas Laporan Keuangan             Responsibilities for the Audit of the Consolidated
                      Konsolidasian pada laporan kami. Kami                    Financial Statements paragraph of our report.
                      independen       terhadap    Kelompok      Usaha         We are independent of the Group in accordance
                      berdasarkan ketentuan etika yang relevan dalam           with the ethical requirements relevant to our audit
                      audit kami atas laporan keuangan konsolidasian di        of the consolidated financial statements in
                      Indonesia, dan kami telah memenuhi tanggung              Indonesia, and we have fulfilled our other
                      jawab etika lainnya berdasarkan ketentuan                ethical responsibilities in accordance with such
                      tersebut. Kami yakin bahwa bukti audit yang telah        requirements. We believe that the audit evidence
                      kami peroleh adalah cukup dan tepat untuk                we have obtained is sufficient and appropriate to
                      menyediakan suatu basis bagi opini kami.                 provide a basis for our opinion.

                      Hal audit utama                                          Key audit matters

                      Hal audit utama adalah hal-hal yang, menurut             Key audit matters are those matters that, in our
                      pertimbangan profesional kami, merupakan hal             professional judgment, were of most significance in
                      yang paling signifikan dalam audit kami atas             our audit of the consolidated financial statements
                      laporan keuangan konsolidasian periode kini. Hal         of the current period. Such key audit matters were
                      audit utama tersebut disampaikan dalam konteks           addressed in the context of our audit of the
                      audit kami atas laporan keuangan konsolidasian           consolidated financial statements taken as a whole,
                      secara keseluruhan, dan dalam merumuskan opini           and in forming our opinion thereon, and we do not
                      kami atas laporan keuangan konsolidasian terkait,        provide a separate opinion on such key audit
                      dan kami tidak menyatakan suatu opini terpisah           matters. For the key audit matter below, our
                      atas hal audit utama tersebut. Untuk hal audit           description of how our audit addressed such key
                      utama di bawah ini, penjelasan kami tentang              audit matter is provided in such context.
                      bagaimana audit kami merespons hal tersebut
                      disampaikan dalam konteks tersebut.




                                                                          ii




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Laporan Auditor Independen (lanjutan)                     Independent Auditor’s Report (continued)

Laporan No. 00364/2.1032/AU.1/01/0687-                    Report    No.     00364/2.1032/AU.1/01/0687-
4/1/III/2024 (lanjutan)                                   4/1/III/2024 (continued)


Hal audit Utama (lanjutan)                                Key audit matters (continued)

Kami telah memenuhi tanggung jawab yang                   We have fulfilled the responsibilities described in
diuraikan dalam paragraf Tanggung Jawab                   the Auditor’s Responsibilities for the Audit of the
Auditor terhadap Audit atas Laporan Keuangan              Consolidated Financial Statements paragraph of
Konsolidasian pada laporan kami, termasuk                 our report, including in relation to the key audit
sehubungan dengan hal audit utama yang                    matter communicated below. Accordingly, our
dikomunikasikan di bawah ini. Oleh karena itu,            audit included the performance of procedures
audit kami mencakup pelaksanaan prosedur yang             designed to respond to our assessment of the risks
didesain untuk merespons penilaian kami atas              of material misstatement of the accompanying
risiko kesalahan penyajian material dalam laporan         consolidated financial statements. The results of
keuangan konsolidasian terlampir. Hasil prosedur          our audit procedures, including the procedures
audit kami, termasuk prosedur yang dilakukan              performed to address the key audit matter below,
untuk merespons hal audit utama di bawah ini,             provide the basis for our opinion on the
menyediakan basis bagi opini kami atas laporan            accompanying consolidated financial statements.
keuangan konsolidasian terlampir.

Evaluasi penurunan nilai piutang plasma                   Impairment assessment of plasma receivables

Penjelasan atas hal audit utama:                          Description of the key audit matter:

Perseroan dan entitas-entitas anak tertentu               The Company and certain subsidiaries have
memiliki komitmen dengan beberapa Koperasi                commitments with several rural cooperatives
Unit Desa yang mewakili petani plasma                     representing plasma farmers to develop plasma
untuk mengembangkan perkebunan plasma                     plantations as required by the Indonesian
sebagaimana diwajibkan oleh Pemerintah                    Government and disclosed in Note 16 to the
Indonesia seperti diungkapkan dalam Catatan 16            consolidated financial statements. As at December
atas laporan keuangan konsolidasian. Pada                 31, 2023, the balance of the Group’s plasma
tanggal 31 Desember 2023, saldo piutang plasma            receivables after allowance for impairment loss and
Kelompok Usaha setelah penyisihan penurunan               effective interest rate (“EIR”) amortization
nilai dan amortisasi suku bunga efektif (“SBE”)           amounted to Rp588,5 billion.
adalah sebesar Rp588.5 miliar.

Piutang plasma diklasifikasikan sebagai aset              Plasma receivables are classified as financial
keuangan yang diukur pada biaya perolehan                 assets at amortized cost under PSAK 71: Financial
diamortisasi berdasarkan PSAK 71: Instrumen               Instruments (since January 1, 2024 referred to as
Keuangan (sejak 1 Januari 2024 dirujuk sebagai            PSAK 109). The Group estimates allowance
PSAK 109). Kelompok Usaha melakukan estimasi              for impairment of plasma receivables using
penyisihan penurunan nilai piutang plasma                 general approach of expected credit losses (ECL)
dengan menggunakan pendekatan umum atas                   as these receivables contain significant financing
kerugian kredit ekspektasian (KKE) karena                 component based on the expected cash shortfalls,
piutang ini mengandung komponen pembiayaan                discounted at an approximation of the original EIR.
yang     signifikan,  berdasarkan    perkiraan
kekurangan kas yang didiskontokan dengan
perkiraan SBE awal.



                                                    iii




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                      Laporan Auditor Independen (lanjutan)                     Independent Auditor’s Report (continued)

                      Laporan No. 00364/2.1032/AU.1/01/0687-                    Report    No.     00364/2.1032/AU.1/01/0687-
                      4/1/III/2024 (lanjutan)                                   4/1/III/2024 (continued)


                      Hal audit Utama (lanjutan)                                Key audit matters (continued)

                      Evaluasi penurunan       nilai   piutang   plasma         Impairment assessment of plasma receivables
                      (lanjutan)                                                (continued)

                      Penjelasan atas hal audit utama (lanjutan):               Description of the key audit matter (continued):

                      Evaluasi penurunan nilai piutang plasma ini adalah        The Impairment assessment of plasma receivables
                      hal audit utama bagi kami karena saldo piutang            estimation is a key audit matter to us because the
                      plasma adalah material terhadap laporan                   balance of plasma receivables is material to the
                      keuangan konsolidasian dan pertimbangan dan               consolidated financial statements and significant
                      estimasi yang signifikan dari manajemen                   judgments and estimates from the management is
                      diperlukan dalam penentuan asumsi-asumsi                  required in establishing key assumption in such
                      utama dalam evaluasi penurunan nilai tersebut,            assessment, such as production yield of Fresh Fruit
                      seperti volume produksi Tandan Buah Segar                 Bunches (FFB), production costs of the plasma
                      (TBS), biaya produksi kebun plasma dan harga jual         plantations and the selling price of FFB. Relevant
                      TBS. Pengungkapan yang relevan terkait dengan             disclosures related to this matter are included in
                      hal ini tercakup dalam Catatan 16 atas laporan            Note 16 to the consolidated financial statements.
                      keuangan konsolidasian.

                      Respons audit:                                            Audit response:

                      Kami mengevaluasi dan menguji rancangan                   We evaluated and assessed the design of the key
                      pengendalian utama atas proses uji penurunan              controls over the process of impairment test of
                      nilai piutang plasma. Kami melakukan reviu atas           plasma receivables. We reviewed the estimated
                      model keuangan yang digunakan untuk estimasi              future cash flow model to assess the
                      arus kas masa depan dalam menilai ketepatan               appropriateness of the methodology employed by
                      metodologi yang dipakai oleh manajemen                    the management and the reasonableness of the key
                      dan kewajaran asumsi-asumsi utama yang                    assumptions used as mentioned above by
                      digunakan seperti disebutkan di atas dengan               comparing them to data sources accessible by
                      membandingkannya dengan sumber data yang                  public and the Group’s internal financial data and
                      dapat diakses publik dan data serta dokumen               documents. We also tested the mathematical
                      keuangan internal Kelompok Usaha. Kami juga               accuracy and application of the key assumptions
                      memeriksa keakuratan matematis dan aplikasi               into the cash flows forecast. We also assessed the
                      asumsi-asumsi utama kedalam proyeksi arus kas.            adequacy of the disclosures on impairment
                      Kami juga menilai kecukupan pengungkapan atas             assessment of plasma receivables in the
                      evaluasi penurunan nilai piutang plasma pada              consolidated financial statements.
                      laporan keuangan konsolidasian.

                      Informasi lain                                            Other information

                      Manajemen bertanggung jawab atas informasi                Management is responsible for the other
                      lain. Informasi lain terdiri dari informasi yang          information. Other information comprises the
                      tercantum dalam Laporan Tahunan 2023                      information included in the 2023 Annual Report
                      (“Laporan Tahunan”) selain laporan keuangan               (“The Annual Report”) other than the
                      konsolidasian terlampir dan laporan auditor               accompanying consolidated financial statements
                      independen kami. Laporan Tahunan diharapkan               and our independent auditor’s report thereon. The
                      akan tersedia bagi kami setelah tanggal laporan           Annual Report is expected to be made available to
                      auditor independen ini.                                   us after the date of this independent auditor’s
                                                                                report.



                                                                           iv




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                                                           The original report included herein is in the Indonesian language.




Laporan Auditor Independen (lanjutan)                 Independent Auditor’s Report (continued)

Laporan No. 00364/2.1032/AU.1/01/0687-                Report    No.     00364/2.1032/AU.1/01/0687-
4/1/III/2024 (lanjutan)                               4/1/III/2024 (continued)


Informasi lain (lanjutan)                             Other information (continued)

Opini kami atas laporan keuangan konsolidasian        Our opinion on the accompanying consolidated
terlampir tidak mencakup Laporan Tahunan, dan         financial statements does not cover the Annual
oleh karena itu, kami tidak menyatakan bentuk         Report, and accordingly, we do not express any
keyakinan apapun atas Laporan Tahunan                 form of assurance on the Annual Report.
tersebut.

Sehubungan dengan audit kami atas laporan             In connection with our audit of the accompanying
keuangan konsolidasian terlampir, tanggung            consolidated       financial    statements,    our
jawab kami adalah untuk membaca Laporan               responsibility is to read the Annual Report when it
Tahunan     ketika    tersedia     dan,  dalam        becomes available and, in doing so, consider
melaksanaannya, mempertimbangkan apakah               whether the Annual Report is materially
Laporan          Tahunan            mengandung        inconsistent with the accompanying consolidated
ketidakkonsistensian material dengan laporan          financial statements or our knowledge obtained in
keuangan     konsolidasian     terlampir  atau        the audit, or otherwise appears to be materially
pemahaman yang kami peroleh selama audit,             misstated.
atau mengandung kesalahan penyajian material.

Ketika kami membaca Laporan Tahunan, jika             When we read the Annual Report, if we conclude
kami menyimpulkan bahwa terdapat suatu                that there is a material misstatement therein, we
kesalahan penyajian material di dalamnya, kami        are required to communicate the matter to those
diharuskan untuk mengomunikasikan           hal       charged with governance and take appropriate
tersebut kepada pihak yang bertanggung jawab          actions based on the applicable laws and
atas tata kelola dan melakukan tindakan yang          regulations.
tepat berdasarkan peraturan perundang-
undangan yang berlaku.

Tanggung jawab manajemen dan pihak yang               Responsibilities of management and those
bertanggung jawab atas tata kelola terhadap           charged with governance for the consolidated
laporan keuangan konsolidasian                        financial statements

Manajemen bertanggung jawab atas penyusunan           Management is responsible for the preparation and
dan penyajian wajar laporan keuangan                  fair presentation of the consolidated financial
konsolidasian tersebut sesuai dengan Standar          statements in accordance with Indonesian Financial
Akuntansi Keuangan di Indonesia, dan atas             Accounting Standards, and for such internal
pengendalian internal yang dianggap perlu oleh        control as management determines is necessary to
manajemen untuk memungkinkan penyusunan               enable the preparation of consolidated financial
laporan keuangan konsolidasian yang bebas dari        statements that are free from material
kesalahan penyajian material, baik yang               misstatement, whether due to fraud or error.
disebabkan oleh kecurangan maupun kesalahan.




                                                  v




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                                                                                                 PT SAWIT SUMBERMAS SARANA TBK.
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Page 284
                                                                                    The original report included herein is in the Indonesian language.




                      Laporan Auditor Independen (lanjutan)                    Independent Auditor’s Report (continued)

                      Laporan No. 00364/2.1032/AU.1/01/0687-                   Report    No.     00364/2.1032/AU.1/01/0687-
                      4/1/III/2024 (lanjutan)                                  4/1/III/2024 (continued)

                      Tanggung jawab manajemen dan pihak yang                  Responsibilities of management and those
                      bertanggung jawab atas tata kelola terhadap              charged with governance for the consolidated
                      laporan keuangan konsolidasian (lanjutan)                financial statements (continued)

                      Dalam       penyusunan       laporan  keuangan           In preparing the consolidated financial statements,
                      konsolidasian, manajemen bertanggung jawab               management is responsible for assessing the
                      untuk menilai kemampuan Kelompok Usaha dalam             Group’s ability to continue as a going concern,
                      mempertahankan         kelangsungan  usahanya,           disclosing, as applicable, matters related to going
                      mengungkapkan, sesuai dengan kondisinya, hal-            concern, and using the going concern basis of
                      hal yang berkaitan dengan kelangsungan usaha,            accounting, unless management either intends to
                      dan menggunakan basis akuntansi kelangsungan             liquidate the Group or to cease its operations, or
                      usaha, kecuali manajemen memiliki intensi untuk          has no realistic alternative but to do so.
                      melikuidasi Kelompok Usaha atau menghentikan
                      operasi, atau tidak memiliki alternatif yang
                      realistis selain melaksanakannya.

                      Pihak yang bertanggung jawab atas tata kelola            Those charged with governance are responsible for
                      bertanggung jawab untuk mengawasi proses                 overseeing the Group’s financial reporting process.
                      pelaporan keuangan Kelompok Usaha.

                      Tanggung jawab auditor terhadap audit atas               Auditor’s responsibilities for the audit of the
                      laporan keuangan konsolidasian                           consolidated financial statements

                      Tujuan kami adalah untuk memeroleh keyakinan             Our objectives are to obtain reasonable assurance
                      memadai tentang apakah laporan keuangan                  about whether the consolidated financial
                      konsolidasian secara keseluruhan bebas dari              statements taken as a whole are free from material
                      kesalahan penyajian material, baik yang                  misstatement, whether due to fraud or error, and
                      disebabkan oleh kecurangan maupun kesalahan,             to issue an independent auditor’s report that
                      dan untuk menerbitkan laporan auditor                    includes our opinion. Reasonable assurance
                      independen yang mencakup opini kami. Keyakinan           is a high level of assurance, but is not a guarantee
                      memadai merupakan suatu tingkat keyakinan                that an audit conducted in accordance with
                      tinggi, namun bukan merupakan suatu jaminan              Standards on Auditing established by the IICPA will
                      bahwa audit yang dilaksanakan berdasarkan                always detect a material misstatement when it
                      Standar Audit yang ditetapkan oleh IAPI akan             exists. Misstatements can arise from fraud or error
                      selalu mendeteksi kesalahan penyajian material           and are considered material if, individually or in the
                      ketika hal tersebut ada. Kesalahan penyajian             aggregate, they could reasonably be expected to
                      dapat disebabkan oleh kecurangan maupun                  influence the economic decisions of users taken on
                      kesalahan dan dianggap material jika, baik secara        the basis of these consolidated financial
                      individual maupun agregat, dapat diekspektasikan         statements.
                      secara wajar akan memengaruhi keputusan
                      ekonomi yang diambil oleh pengguna berdasarkan
                      laporan keuangan konsolidasian tersebut.




                                                                          vi




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                                                               The original report included herein is in the Indonesian language.




Laporan Auditor Independen (lanjutan)                     Independent Auditor’s Report (continued)

Laporan No. 00364/2.1032/AU.1/01/0687-                    Report    No.     00364/2.1032/AU.1/01/0687-
4/1/III/2024 (lanjutan)                                   4/1/III/2024 (continued)


Tanggung jawab auditor terhadap audit atas                Auditor’s responsibilities for the audit of the
laporan keuangan konsolidasian                            consolidated financial statements

Sebagai bagian dari suatu audit berdasarkan               As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami             Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan                   professional judgment and maintain professional
mempertahankan skeptisisme profesional selama             skepticism throughout the audit. We also:
audit. Kami juga:

   Mengidentifikasi dan menilai risiko kesalahan            Identify and assess the risks of material
    penyajian material dalam laporan keuangan                 misstatement of the consolidated financial
    konsolidasian, baik yang disebabkan oleh                  statements, whether due to fraud or error,
    kecurangan maupun kesalahan, mendesain                    design and perform audit procedures
    dan melaksanakan prosedur audit yang                      responsive to such risks, and obtain audit
    responsif terhadap risiko tersebut, serta                 evidence that is sufficient and appropriate to
    memeroleh bukti audit yang cukup dan tepat                provide a basis for our opinion. The risk of not
    untuk menyediakan basis bagi opini kami.                  detecting a material misstatement resulting
    Risiko tidak terdeteksinya suatu kesalahan                from fraud is higher than for one resulting from
    penyajian material yang disebabkan oleh                   error, as fraud may involve collusion, forgery,
    kecurangan lebih tinggi dari yang disebabkan              intentional omissions, misrepresentations, or
    oleh kesalahan, karena kecurangan dapat                   override of internal control.
    melibatkan kolusi, pemalsuan, penghilangan
    secara sengaja, pernyataan salah, atau
    pengabaian atas pengendalian internal.

   Memeroleh suatu pemahaman tentang                        Obtain an understanding of internal control
    pengendalian internal yang relevan dengan                 relevant to the audit in order to design audit
    audit untuk mendesain prosedur audit yang                 procedures that are appropriate in the
    tepat sesuai dengan kondisinya, tetapi bukan              circumstances, but not for the purpose of
    untuk tujuan menyatakan opini atas                        expressing an opinion on the effectiveness of
    keefektivitasan    pengendalian      internal             the Group’s internal control.
    Kelompok Usaha.

   Mengevaluasi ketepatan kebijakan akuntansi               Evaluate the appropriateness of accounting
    yang digunakan serta kewajaran estimasi                   policies used and the reasonableness of
    akuntansi dan pengungkapan terkait yang                   accounting estimates and related disclosures
    dibuat oleh manajemen.                                    made by management.




                                                    vii




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                                                                                           The original report included herein is in the Indonesian language.



                      Laporan Auditor Independen (lanjutan)                           Independent Auditor’s Report (continued)

                      Laporan No. 00364/2.1032/AU.1/01/0687-                          Report    No.     00364/2.1032/AU.1/01/0687-
                      4/1/III/2024 (lanjutan)                                         4/1/III/2024 (continued)


                      Tanggung jawab auditor terhadap audit atas                      Auditor’s responsibilities for the audit of the
                      laporan keuangan konsolidasian (lanjutan)                       consolidated financial statements (continued)

                      Sebagai bagian dari suatu audit berdasarkan                     As part of an audit in accordance with Standards on
                      Standar Audit yang ditetapkan oleh IAPI, kami                   Auditing established by the IICPA, we exercise
                      menerapkan pertimbangan profesional dan                         professional judgment and maintain professional
                      mempertahankan skeptisisme profesional selama                   skepticism throughout the audit. We also:
                      audit. Kami juga: (lanjutan)                                    (continued)

                           Menyimpulkan ketepatan penggunaan basis                      Conclude on       the appropriateness of
                            akuntansi     kelangsungan       usaha     oleh               management's use of the going concern basis
                            manajemen dan, berdasarkan bukti audit yang                   of accounting and, based on the audit evidence
                            diperoleh,     apakah      terdapat       suatu               obtained, whether a material uncertainty exists
                            ketidakpastian material yang terkait dengan                   related to events or conditions that may cast
                            peristiwa    atau     kondisi    yang     dapat               significant doubt on the Group's ability to
                            menyebabkan keraguan signifikan atas                          continue as a going concern. If we conclude
                            kemampuan        Kelompok      Usaha      untuk               that a material uncertainty exists, we are
                            mempertahankan kelangsungan usahanya.                         required to draw attention in our independent
                            Ketika kami menyimpulkan bahwa terdapat                       auditor’s report to the related disclosures in
                            suatu     ketidakpastian      material,    kami               the consolidated financial statements or, if
                            diharuskan untuk menarik perhatian dalam                      such disclosures are inadequate, to modify our
                            laporan auditor independen kami ke                            opinion. Our conclusion is based on the audit
                            pengungkapan       terkait    dalam     laporan               evidence obtained up to the date of our
                            keuangan       konsolidasian      atau,     jika              independent auditor’s report. However, future
                            pengungkapan tersebut tidak memadai,                          events or conditions may cause the Group to
                            memodifikasi opini kami. Kesimpulan kami                      cease to continue as a going concern.
                            didasarkan pada bukti audit yang diperoleh
                            hingga tanggal laporan auditor independen
                            kami. Namun, peristiwa atau kondisi masa
                            depan dapat menyebabkan Kelompok Usaha
                            tidak dapat mempertahankan kelangsungan
                            usaha.




                                                                               viii




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                                                              The original report included herein is in the Indonesian language.




Laporan Auditor Independen (lanjutan)                    Independent Auditor’s Report (continued)

Laporan No. 00364/2.1032/AU.1/01/0687-                   Report    No.     00364/2.1032/AU.1/01/0687-
4/1/III/2024 (lanjutan)                                  4/1/III/2024 (continued)


Tanggung jawab auditor terhadap audit atas               Auditor’s responsibilities for the audit of the
laporan keuangan konsolidasian (lanjutan)                consolidated financial statements (continued)

Sebagai bagian dari suatu audit berdasarkan              As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami            Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan                  professional judgment and maintain professional
mempertahankan skeptisisme profesional selama            skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan)                             (continued)

   Mengevaluasi penyajian, struktur, dan isi               Evaluate the overall presentation, structure,
    laporan keuangan konsolidasian secara                    and content of the consolidated financial
    keseluruhan, termasuk pengungkapannya,                   statements, including the disclosures, and
    dan apakah laporan keuangan konsolidasian                whether the consolidated financial statements
    mencerminkan transaksi dan peristiwa yang                represent the underlying transactions and
    mendasarinya dengan suatu cara yang                      events in a manner that achieves fair
    mencapai penyajian wajar.                                presentation.

   Memeroleh bukti audit yang cukup dan tepat              Obtain sufficient appropriate audit evidence
    terkait informasi keuangan entitas atau                  regarding the financial information of the
    aktivitas bisnis dalam Kelompok Usaha untuk              entities or business activities within the Group
    menyatakan opini atas laporan keuangan                   to express an opinion on the consolidated
    konsolidasian. Kami bertanggung jawab atas               financial statements. We are responsible for
    arahan, supervisi, dan pelaksanaan audit                 the direction, supervision, and performance of
    Kelompok Usaha. Kami tetap bertanggung                   the group audit. We remain solely responsible
    jawab sepenuhnya atas opini audit kami.                  for our audit opinion.

Kami mengomunikasikan kepada pihak yang                  We communicate with those charged with
bertanggung jawab atas tata kelola mengenai,             governance regarding, among other matters, the
antara lain, ruang lingkup dan saat yang                 planned scope and timing of the audit and
direncanakan atas audit serta temuan audit               significant audit findings, including any significant
signifikan, termasuk setiap defisiensi signifikan        deficiencies in internal control that we identify
dalam pengendalian internal yang teridentifikasi         during our audit.
oleh kami selama audit.

Kami juga memberikan suatu pernyataan kepada             We also provide those charged with governance
pihak yang bertanggung jawab atas tata kelola            with a statement that we have complied with
bahwa kami telah mematuhi ketentuan etika yang           relevant     ethical requirements    regarding
relevan       mengenai      independensi,     dan        independence, and to communicate with them all
mengomunikasikan kepada pihak tersebut seluruh           relationships and other matters that may
hubungan, serta hal-hal lain yang dianggap secara        reasonably be thought to bear on our
wajar berpengaruh terhadap independensi kami,            independence, and where applicable, related
dan, jika relevan, pengamanan terkait.                   safeguards.




                                                    ix




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288 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 289
                                                                             The original consolidated financial statements included herein
                                                                                                           are in the Indonesian language.

           PT SAWIT SUMBERMAS SARANA Tbk.                                           PT SAWIT SUMBERMAS SARANA Tbk.
                 DAN ENTITAS ANAKNYA                                                      AND ITS SUBSIDIARIES
               LAPORAN POSISI KEUANGAN                                                  CONSOLIDATED STATEMENT
                      KONSOLIDASIAN                                                       OF FINANCIAL POSITION
                Tanggal 31 Desember 2023                                                  As of December 31, 2023
              (Disajikan dalam ribuan Rupiah,                                        (Expressed in thousands of Rupiah,
                  kecuali dinyatakan lain)                                                unless otherwise stated)


                                                                        Disajikan Kembali - Catatan 4/
                                                                             As restated - Note 4

                                                                                         1 Januari 2022/
                                                                                         January 1, 2022
                                                 31 Desember/      31 Desember/           31 Desember/
                                   Catatan/      December 31,      December 31,           December 31,
                                    Notes            2023              2022                   2021

ASET                                                                                                                                   ASSETS

ASET LANCAR                                                                                                               CURRENT ASSETS
Kas dan setara kas                  2g,2h,5        1.237.290.419        1.806.836.518        1.984.947.384          Cash and cash equivalents
Piutang usaha                                                                                                                Trade receivables
   Pihak berelasi                  2g,2u,34a        617.509.691          443.821.465          299.476.937                     Related parties
   Pihak ketiga                       2g,6           43.034.252          414.432.549           93.588.363                        Third parties
Piutang lain-lain                                                                                                             Other receivables
   Pihak berelasi                  2g,2u,34a        283.923.652          251.958.578          536.798.313                     Related parties
   Pihak ketiga                       2g,7           15.806.332           23.110.194           31.562.115                        Third parties
Persediaan, neto                      2i,8          791.630.056          884.844.829          758.436.435                       Inventories, net
Aset biologis                         2j,9          268.510.895          225.042.572          361.255.612                      Biological assets
Biaya dibayar dimuka                   10             2.444.276            2.267.640            2.680.493                         Prepayments
Uang muka                                                                                                                             Advances
   Pihak ketiga                       11            167.821.390          142.038.917          262.899.139                        Third parties
   Pihak berelasi                    34a             68.871.190           15.222.059           24.726.295                     Related parties
Pajak dibayar di muka                20a            166.878.084          143.928.450          251.571.082                         Prepaid taxes
Pinjaman kepada pihak berelasi       34a            475.623.562          285.451.862                    -                Loan to related parties
Taksiran tagihan restitusi pajak                                                                                  Estimated claim for tax refund
   Jangka pendek                     20b                692.538                     -           27.880.622                           current
Aset lancar lainnya                   17            888.190.872                     -                    -                 Other current assets

TOTAL ASET LANCAR                                  5.028.227.209        4.638.955.633        4.635.822.790         TOTAL CURRENT ASSETS


ASET TIDAK LANCAR                                                                                                    NON-CURRENT ASSETS
Taksiran tagihan restitusi pajak                                                                                 Estimated claims for tax refund
   - jangka panjang                  20c            171.280.506            65.061.177           49.318.910                       non-current
Pinjaman jangka panjang kepada
   pemegang saham yang dapat                                                                                        Long-term convertible loan
   dikonversi                      2g,2v,34a        219.473.951          160.319.303                       -                 to a shareholder
Aset tetap dan tanaman                                                                                                         Fixed assets and
   produktif, neto                   2k,12         4.814.421.304        4.843.130.081        4.815.583.112                  bearer plants, net
Aset tak berwujud, neto              2l,14             6.588.822            9.707.799           11.325.090                Intangible assets, net
Aset hak guna, neto                  2p,13           107.880.726           17.415.656            9.294.793              Right of use assets, net
Investasi saham pada                                                                                                    Investment in shares of
   perusahaan asosiasi               2z,15          591.891.284          645.231.496          682.582.231              associated companies
Aset pajak tangguhan, neto          2q,20g          142.786.096          110.222.141           89.438.779               Deferred tax assets, net
Piutang plasma                                                                                                              Plasma receivables
   setelah dikurangi dengan                                                                                                   after net off with
   penyisihan penurunan nilai                                                                                      allowance for impairment
   Rp37.274.799 (2022: RpNihil)    2g,2n,16         588.537.684          505.537.041          381.673.661        Rp37,274,799 (2022: RpNil)
Aset tidak lancar lainnya             17            139.357.051          141.329.473           30.292.052             Other non-current assets

TOTAL ASET TIDAK LANCAR                            6.782.217.424        6.497.954.167        6.069.508.628     TOTAL NON-CURRENT ASSETS

TOTAL ASET                                       11.810.444.633        11.136.909.800       10.705.331.418                    TOTAL ASSETS




       Catatan atas laporan keuangan konsolidasian terlampir                     The accompanying notes to the consolidated financial
              merupakan bagian integral dari laporan                             statements form an integral part of these consolidated
                      keuangan konsolidasian.                                                    financial statements.

                                                                   1




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Page 290
                                                                                                The original consolidated financial statements included herein
                                                                                                                              are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                          PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                     AND ITS SUBSIDIARIES
                                   LAPORAN POSISI KEUANGAN                                                 CONSOLIDATED STATEMENT
                                    KONSOLIDASIAN (lanjutan)                                           OF FINANCIAL POSITION (continued)
                                    Tanggal 31 Desember 2023                                                 As of December 31, 2023
                                  (Disajikan dalam ribuan Rupiah,                                       (Expressed in thousands of Rupiah,
                                      kecuali dinyatakan lain)                                               unless otherwise stated)



                                                                                           Disajikan Kembali - Catatan 4/
                                                                                                As restated - Note 4

                                                                                                            1 Januari 2022/
                                                                                                            January 1, 2022
                                                                     31 Desember/      31 Desember/          31 Desember/
                                                         Catatan/    December 31,      December 31,          December 31,
                                                          Notes          2023              2022                  2021

                     LIABILITAS DAN EKUITAS                                                                                         LIABILITIES AND EQUITY

                     LIABILITAS JANGKA PENDEK                                                                                         CURRENT LIABILITIES
                     Utang usaha                                                                                                                 Trade payables
                        Pihak ketiga                       2g,18        279.793.615         138.796.191          203.965.554                     Third parties
                        Pihak berelasi                   2g,2u,34b       84.486.873          83.851.336          114.162.204                  Related parties
                     Pendapatan diterima dimuka                                                                                              Unearned revenue
                        Pihak ketiga                        19           62.478.492         149.626.134            1.152.093                     Third parties
                        Pihak berelasi                      19            2.000.000                   -                    -                  Related parties
                     Utang pajak                          2q,20d         23.595.722         197.832.901          237.383.571                      Taxes payable
                     Beban akrual                          2g,21         65.502.846         116.654.531          235.087.386                 Accrued expenses
                     Utang lain-lain                                                                                                             Other payables
                        Pihak ketiga                       2g,18        702.835.041         837.369.242          456.162.511                     Third parties
                        Pihak berelasi                   2g,2u,34b       37.546.770          13.432.293           15.396.022                  Related parties
                     Liabilitas sewa jangka panjang                                                                                        Current maturities of
                        jatuh tempo dalam satu tahun       2p,13         13.138.714            1.207.710            1.207.710               of lease liabilities
                     Liabilitas sewa pembiayaan                                                                                            Current maturities of
                        jatuh tempo dalam satu tahun        23              399.347             665.000               665.000         finance lease liabilites
                     Utang obligasi, neto                  2g,24                  -         633.067.305                     -               Bonds payable, net
                     Liabilitas imbalan kerja                                                                                      Short-term employee benefit
                        karyawan jangka pendek           2g,2s,25        147.986.415        169.022.031          142.876.597                         liabilities
                     Utang bank jangka pendek               22         2.437.341.526        973.981.690          968.978.400               Short-term bank loan
                     Utang bank jangka panjang                                                                                             Current maturities of
                        jatuh tempo dalam satu tahun        22          897.754.076         856.786.228          328.000.896             long-term bank loan

                     JUMLAH LIABILITAS
                       JANGKA PENDEK                                   4.754.859.437       4.172.292.592        2.705.037.944   TOTAL CURRENT LIABILITIES


                     LIABILITAS JANGKA PANJANG                                                                                    NON-CURRENT LIABILITIES
                     Utang bank jangka panjang -
                        setelah dikurangi bagian jatuh                                                                                      Long-term bank loan
                        tempo dalam satu tahun             2f,22       4.766.529.162       4.686.503.481        2.014.539.472       - net of current maturities
                     Utang obligasi, neto                  2f,24                   -                   -        4.247.062.364                 Bonds payable, net
                     Liabilitas sewa jangka panjang        2p,13          64.545.307          10.120.456            9.709.596          Long-term lease liabilities
                     Liabilitas sewa pembiayaan             23                     -                   -              665.000            Finance lease liabilities
                     Liabilitas imbalan kerja                                                                                       Long-term employee benefit
                        karyawan jangka panjang            2s,25        196.352.920         155.732.232          193.162.215                          liabilites
                     Liabilitas pajak tangguhan, neto     2q,20g         38.195.747          67.757.148           79.471.800          Deferred tax liabilities, net

                     JUMLAH LIABILITAS                                                                                                 TOTAL NON-CURRENT
                       JANGKA PANJANG                                  5.065.623.136       4.920.113.317        6.544.610.447                 LIABILITIES

                     JUMLAH LIABILITAS                                 9.820.482.573       9.092.405.909        9.249.648.391              TOTAL LIABILITIES




                           Catatan atas laporan keuangan konsolidasian terlampir                    The accompanying notes to the consolidated financial
                                  merupakan bagian integral dari laporan                            statements form an integral part of these consolidated
                                          keuangan konsolidasian.                                                   financial statements.

                                                                                       2




290 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 291
                                                                             The original consolidated financial statements included herein
                                                                                                           are in the Indonesian language.

           PT SAWIT SUMBERMAS SARANA Tbk.                                           PT SAWIT SUMBERMAS SARANA Tbk.
                 DAN ENTITAS ANAKNYA                                                      AND ITS SUBSIDIARIES
               LAPORAN POSISI KEUANGAN                                                  CONSOLIDATED STATEMENT
                KONSOLIDASIAN (lanjutan)                                            OF FINANCIAL POSITION (continued)
                Tanggal 31 Desember 2023                                                  As of December 31, 2023
              (Disajikan dalam ribuan Rupiah,                                        (Expressed in thousands of Rupiah,
                  kecuali dinyatakan lain)                                                unless otherwise stated)

                                                                        Disajikan Kembali - Catatan 4/
                                                                             As restated - Note 4

                                                                                         1 Januari 2021/
                                                                                         January 1, 2021
                                                31 Desember/       31 Desember/           31 Desember/
                                     Catatan/   December 31,       December 31,           December 31,
                                      Notes         2023               2022                   2021

EKUITAS                                                                                                                               EQUITY
Ekuitas yang dapat                                                                                                       Equity attributable to
  diatribusikan kepada                                                                                                     owners equity of
  pemilik entitas induk                                                                                                    the parent entity
Modal saham                                                                                                                      Share capital
  Modal dasar - 32.100.000.000                                                                                                  Authorized -
      lembar saham                                                                                              32,100,000,000 shares
      nilai nominal Rp100                                                                                      at par value per share of
      (nilai penuh) per saham                                                                                       Rp100 (full amount)
  Modal ditempatkan dan disetor                                                                                      Issued and fully paid -
      penuh - 9.525.000.000 lembar                                                                                        9,525,000,000
      saham                            26a          952.500.000          952.500.000          952.500.000                         shares
Tambahan modal disetor                  27       (2.852.050.343)         540.919.171          540.919.171            Additional paid-in capital
Selisih transaksi dengan pihak                                                                                 Difference in transactions with
  non-pengendali                       28           89.113.603             89.113.603           89.113.603           non-controlling parties
Saldo laba                                                                                                                  Retained earnings
  Sudah ditentukan penggunaannya       26d        1.340.160.714           970.536.918          665.162.743                     Appropriated
  Belum ditentukan penggunaannya                  1.979.428.701         3.616.933.978        3.559.342.294                  Unappropriated
Penghasilan komprehensif lain                       551.074.272           545.353.071          577.572.471     Other comprehensive income
Komponen ekuitas lainnya                           (309.619.637)         (309.619.637)        (309.619.637)           Other equity component
Ekuitas merging entities                4                     -        (4.399.464.941)      (4.651.824.738)            Merging entities equity

Ekuitas yang dapat                                                                                                      Equity attributable to
  diatribusikan kepada                                                                                                           owners of
      pemilik entitas induk - neto                1.750.607.310         2.006.272.163        1.423.165.907           the parent entity - net
Kepentingan non-pengendali             26e          239.354.750            38.231.728           32.517.120           Non-controlling interests

JUMLAH EKUITAS                                    1.989.962.060         2.044.503.891        1.455.683.027                   TOTAL EQUITY

JUMLAH LIABILITAS                                                                                                       TOTAL LIABILITIES
  DAN EKUITAS                                   11.810.444.633         11.136.909.800       10.705.331.418                 AND EQUITY




      Catatan atas laporan keuangan konsolidasian terlampir                      The accompanying notes to the consolidated financial
        merupakan bagian integral dari laporan keuangan                          statements form an integral part of these consolidated
                          konsolidasian.                                                         financial statements.

                                                                   3




                                                                                                                                                                 291
                                                                                                                     PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                            Laporan Tahunan 2023 Annual Report
Page 292
                                                                                            The original consolidated financial statements included herein
                                                                                                                               are in Indonesian language.

                            PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
                                  DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
                          LAPORAN LABA RUGI DAN PENGHASILAN                                CONSOLIDATED STATEMENT OF PROFIT OR LOSS
                           KOMPREHENSIF LAIN KONSOLIDASIAN                                     AND OTHER COMPREHENSIVE INCOME
                               Untuk tahun yang Berakhir pada                                   For the year Ended December 31, 2023
                                 Tanggal 31 Desember 2023                                        (Expressed in thousands of Rupiah,
                               (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
                                   kecuali dinyatakan lain)

                                                        Untuk tahun yang Berakhir pada Tanggal 31 Desember/
                                                                 For the years ended December 31,

                                                                                            Disajikan Kembali
                                                                                               - Catatan 4/
                                                                                              As restated -
                                                                                Catatan/          Note 4
                                                                2023             Notes             2022
                  PENDAPATAN DARI KONTRAK                                                                                      REVENUE FROM
                    DENGAN PELANGGAN                       10.703.411.845        2u,29         11.240.219.016     CONTRACTS WITH CUSTOMERS
                  BEBAN POKOK PENJUALAN                    (7.904.355.885)       2u,30         (6.935.789.797)                 COST OF SALES
                  LABA BRUTO                                2.799.055.960                       4.304.429.219                          GROSS PROFIT

                  Beban penjualan                            (855.378.199)       2u,31         (1.054.835.672)                          Selling expenses
                  Beban umum dan administrasi                (836.073.334)       2u,31           (767.982.550)     General and administrative expenses
                  Keuntungan/(kerugian) atas                                                                                 Gain/(loss) from changes in
                     nilai wajar aset biologis                 43.468.323         2k,9           (136.213.040)          fair value of biological assets
                  Pendapatan lain-lain, neto                   45.210.750        2u,31            280.457.303                          Other income, net

                  LABA USAHA                                1.196.283.500                       2.625.855.260                     OPERATING PROFIT
                  Pendapatan keuangan                          87.923.497        2u,32             17.534.407                           Finance income
                  Beban keuangan                             (678.731.638)       2u,32           (641.352.765)                            Finance costs
                  Bagian kerugian atas                                                                                               Equity in net losses
                     entitas asosiasi                          (53.340.212)      2g,15            (37.350.735)                   of associates entities
                  LABA SEBELUM                                                                                         PROFIT BEFORE CORPORATE
                    PAJAK PENGHASILAN BADAN                   552.135.147                       1.964.686.167                     INCOME TAX

                  PAJAK PENGHASILAN BADAN                    (208.119.522)       2q,20f          (489.764.327)             CORPORATE INCOME TAX

                  LABA TAHUN BERJALAN                                                                                 PROFIT FOR THE YEAR AFTER
                     SETELAH EFEK                                                                                                 EFFECT OF
                     PENYESUAIAN PROFORMA                     344.015.625                       1.474.921.840         PROFORMA ADJUSTMENT

                  Efek penyesuaian proforma                   174.298.439                         373.197.138             Effect of proforma adjustment

                  LABA TAHUN BERJALAN                                                                               PROFIT FOR THE YEAR BEFORE
                    SEBELUM EFEK                                                                                                  EFFECT OF
                    PENYESUAIAN PROFORMA                      518.314.064                       1.848.118.978        PROFORMA ADJUSTMENT
                  PENGHASILAN KOMPREHENSIF                                                                                  OTHER COMPREHENSIVE
                     LAIN, SETELAH PAJAK                                                                                    INCOME, NET OF TAX
                  Pos yang tidak akan                                                                                             Item that will not be
                     direklasifikasi ke laba rugi                                                                     reclassified to profit or loss
                     Pengukuran kembali                                                                                            Remeasurements
                      Keuntungan/(kerugian) atas                                                                        gain/(loss) on liability for
                      liabilitas imbalan kerja                   8.336.222                        (25.037.369)                 employee benefits
                     Selisih kurs                                                                                     Difference in foreign currency
                      penjabaran laporan keuangan             (11.017.567 )                        42.907.618 translation of financial statements
                                                                (2.681.345)                        17.870.249
                  TOTAL LABA KOMPREHENSIF                                                                                   TOTAL COMPREHENSIVE
                    TAHUN BERJALAN                            515.632.719                       1.865.989.227             INCOME FOR THE YEAR
                  Efek penyesuaian proforma                                                                               Effect of proforma adjustment
                     atas penghasilan/(rugi)                                                                               from other comprehensive
                     komprehensif lain                          11.017.567                        (43.237.334)                           income/(loss)
                  TOTAL LABA KOMPREHENSIF                                                                                TOTAL COMPREHENSIVE
                    TAHUN BERJALAN SETELAH                                                                        INCOME FOR THE YEAR AFTER
                    PENYESUAIAN PROFORMA                      526.650.286                       1.822.751.893         PROFORMA ADJUSTMENT


                        Catatan atas laporan keuangan konsolidasian terlampir                  The accompanying notes to the consolidated financial
                          merupakan bagian integral dari laporan keuangan                      statements form an integral part of these consolidated
                                            konsolidasian.                                                     financial statements.

                                                                                     4




292 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 293
                                                                         The original consolidated financial statements included herein
                                                                                                            are in Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                         PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                                     AND ITS SUBSIDIARIES
    LAPORAN LABA RUGI DAN PENGHASILAN                                   CONSOLIDATED STATEMENT OF PROFIT OR LOSS
  KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan)                            AND OTHER COMPREHENSIVE INCOME (continued)
         Untuk tahun yang Berakhir pada                                      For the year Ended December 31, 2023
           Tanggal 31 Desember 2023                                           (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                            unless otherwise stated)
             kecuali dinyatakan lain)



                                     Untuk tahun yang Berakhir pada Tanggal 31 Desember/
                                              For the years ended December 31,

                                                                         Disajikan Kembali
                                                                            - Catatan 4/
                                                                           As restated -
                                                             Catatan/          Note 4
                                             2023             Notes             2022

Laba tahun berjalan                                                                                              Profit for the year
   diatribusikan kepada:                                                                                          attributable to:
   Pemilik entitas induk                   512.255.637                       1.837.375.968             Owners of the parent entity
   Kepentingan non-pengendali                6.058.427                          10.743.010               Non-controlling interests

                                           518.314.064                       1.848.118.978


Laba komprehensif tahun berjalan                                                                            Comprehensive income
   yang diatribusikan kepada:                                                                         for the year attributable to:
   Pemilik entitas induk                   521.065.768                       1.814.036.666              Owners of the parent entity
   Kepentingan non-pengendali                5.584.518         26e               8.715.227                 Non-controlling interests
                                           526.650.286                       1.822.751.893

Laba per saham (nilai penuh)                        53,78     2v,33                  192,90       Earnings per share (full amount)




     Catatan atas laporan keuangan konsolidasian terlampir                  The accompanying notes to the consolidated financial
       merupakan bagian integral dari laporan keuangan                      statements form an integral part of these consolidated
                         konsolidasian.                                                     financial statements.

                                                                  5




                                                                                                                                                             293
                                                                                                                  PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                        Laporan Tahunan 2023 Annual Report
Page 294
                                                                                                                                                                                                                                                                    The original consolidated financial statements included herein are in the Indonesian language.



                                                                                                  PT SAWIT SUMBERMAS SARANA Tbk.                                                                                                                              PT SAWIT SUMBERMAS SARANA Tbk.
                                                                                                        DAN ENTITAS ANAKNYA                                                                                                                                           AND ITS SUBSIDIARIES
                                                                                          LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN                                                                                                                     CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
                                                                                       Untuk tahun yang Berakhir pada Tanggal 31 Desember 2023                                                                                                                For the year Ended December 31, 2023
                                                                                         (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)                                                                                                   (Expressed in thousands of Rupiah, unless otherwise stated)




294 Laporan Tahunan 2023 Annual Report
                                                                                                                                                                 Ekuitas dapat diatribusikan kepada pemilik entitas induk/
                                                                                                                                                                     Equity attributable to owners of the parent entity




                    PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                                       Selisih
                                                                                                                                                    Transaksi
                                                                                                                                                  dengan pihak
                                                                                                                                                 Non-pengendali/
                                                                                                          Modal                                     Difference
                                                                                                    ditempatkan dan                                  in value            Penghasilan          Komponen                Saldo laba/Retained earnings
                                                                                                     disetor penuh/         Tambahan             of transactions         komprehensif           ekuitas                                                            Ekuitas                                      Kepentingan
                                                                                                       Issued and          modal disetor/           with non-             lain/Other            lainnya/             Ditentukan        Belum ditentukan         merging entities/                             non pengendali/
                                                                                                        fully paid           Additional            controlling          comprehensive         Other equity        penggunaannya/       penggunaannya/           Merging entities            Total/            Non-controlling         Total ekuitas/
                                                                                                      Share capital        paid-in capital            interest              income            component             appropriated        unappropriated              equity                  Total                interests             Total equity

                                                     Saldo 1 Januari 2022/                                                                                                                                                                                                                                                                                      Balance at January 1, 2022/
                                                       31 Desember 2021                                                                                                                                                                                                                                                                                            December 31, 2021
                                                       (dilaporkan sebelumnya)                            952.500.000            540.919.171           89.113.603            577.572.471         (309.619.637 )        665.162.743          3.559.342.294                        -        6.074.990.645             32.517.120          6.107.507.765         (as previously reported)

                                                     Penyesuaian efek ekuitas                                                                                                                                                                                                                                                                                          Adjustment of effect of
                                                       merging entities yang timbul                                                                                                                                                                                                                                                                         merging entities equity from
                                                       dari penerapan PSAK 38                                         -                      -                    -                      -                   -                    -                       -       (4.651.824.738)        (4.651.824.738)                       -        (4.651.824.738)         application of PSAK 38


                                                     Saldo 1 Januari 2022                                                                                                                                                                                                                                                                                       Balance at January 1, 2022
                                                       (disajikan kembali – Catatan 4)                    952.500.000            540.919.171           89.113.603            577.572.471         (309.619.637 )        665.162.743          3.559.342.294         (4.651.824.738)         1.423.165.907             32.517.120          1.455.683.027           (as restated – Note 4)

                                                     Penyesuaian efek ekuitas                                                                                                                                                                                                                                                                                          Adjustment of effect of
                                                       merging entities yang timbul                                                                                                                                                                                                                                                                         merging entities equity from
                                                       dari penerapan PSAK 38                                         -                      -                    -                      -                   -                    -                       -          252.359.797            252.359.797                        -          252.359.797           application of PSAK 38

                                                     Cadangan umum (Catatan 26d)                                      -                      -                    -                      -                   -         305.374.175           (305.374.175)                       -                      -                      -                       -       General reserves (Notes 26d)

                                                     Pembayaran dividen (Catatan 26b)                                 -                      -                    -                      -                   -                    -        (1.474.410.109)                       -       (1.474.410.109)             (3.000.620)        (1.477.410.729)            Dividend paid (Notes 26b)

                                                     Efek translasi                                                   -                      -                    -            (8.880.097)                   -                    -                       -                      -            (8.880.097)                      -            (8.880.097)                     Translation effect

                                                     Penghasilan komprehensif lain                                    -                      -                    -           (23.339.303)                   -                    -                       -                      -          (23.339.303)             (2.027.782)           (25.367.085)         Other comprehensive income

                                                     Total laba tahun yang berakhir pada                                                                                                                                                                                                                                                                        Total profit for the year ended
                                                       Tanggal 31 Desember 2022                                       -                      -                    -                      -                   -                    -         1.837.375.968                        -        1.837.375.968             10.743.010          1.848.118.978               December 31, 2022

                                                     Saldo 31 Desember 2022                               952.500.000            540.919.171           89.113.603            545.353.071         (309.619.637 )        970.536.918          3.616.933.978         (4.399.464.941)         2.006.272.163             38.231.728          2.044.503.891        Balance at December 31, 2022

                                                     Penyesuaian efek ekuitas                                                                                                                                                                                                                                                                                          Adjustment of effect of
                                                       Merging entities yang timbul                                                                                                                                                                                                                                                                         merging entities equity from
                                                       Dari penerapan PSAK 38                                         -       (3.392.969.514 )                    -                      -                   -                    -        (1.069.191.118)         4.399.464.941            (62.695.691)           196.579.004            133.883.313           application of PSAK 38

                                                     Cadangan umum (Catatan 26d)                                      -                      -                    -                      -                   -         369.623.796           (369.623.796)                       -                      -                      -                       -       General reserves (Notes 26d)

                                                     Pembayaran dividen (Catatan 26b)                                 -                      -                    -                      -                   -                    -          (710.946.000)                       -         (710.946.000)             (1.040.500)         (711.986.500)             Dividend paid (Notes 26b)

                                                     Efek translasi                                                   -                      -                    -            (3.088.930)                   -                    -                       -                      -            (3.088.930)                      -            (3.088.930)                     Translation effect

                                                     Penghasilan komprehensif lain                                    -                      -                    -                      -                   -                    -                       -                      -                      -                      -                       -        Other comprehensive income

                                                     Total laba tahun yang berakhir pada                              -                      -                                                                                                                                                                                                                  Total profit for the year ended
                                                       Tanggal 31 Desember 2023                                                                                   -             8.810.131                    -                    -           512.255.637                        -          521.065.768               5.584.518           526.650.286               December 31, 2023

                                                     Saldo 31 Desember 2023                               952.500.000         (2.852.050.343 )         89.113.603            551.074.272         (309.619.637 )       1.340.160.714         1.979.428.701                        -        1.750.607.310            239.354.750          1.989.962.060        Balance at December 31, 2023




                                                                      Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian integral dari laporan keuangan konsolidasian.                                            The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements.


                                                                                                                                                                                                                  6
Page 295
                                                                        The original consolidated financial statements included herein
                                                                                                      are in the Indonesian language.

         PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
               DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
        LAPORAN ARUS KAS KONSOLIDASIAN                                          CONSOLIDATED STATEMENT OF
            Untuk tahun yang Berakhir pada                                                CASH FLOWS
              Tanggal 31 Desember 2023                                        For the year Ended December 31, 2023
            (Disajikan dalam ribuan Rupiah,                                    (Expressed in thousands of Rupiah,
                kecuali dinyatakan lain)                                             unless otherwise stated)



                                     Untuk tahun yang Berakhir pada Tanggal 31 Desember/
                                             For the years Ended December 31,

                                                                        Disajikan Kembali
                                                                           - Catatan 4/
                                                                          As restated -
                                                             Catatan/         Note 4
                                            2023              Notes            2022

ARUS KAS DARI AKTIVITAS                                                                                     CASH FLOWS FROM
  OPERASI:                                                                                           OPERATING ACTIVITIES:
Penerimaan kas dari pelanggan            10.815.974.275                   10.923.504.342             Cash received from customers
Pembayaran kas kepada pemasok            (8.394.962.930)                  (6.893.971.949)                   Cash paid to suppliers
Pembayaran kas kepada karyawan           (1.027.471.242)                  (1.043.884.585)                  Cash paid to employees

Kas yang dihasilkan dari operasi          1.393.540.103                     2.985.647.808            Cash resulting from operations

Penghasilan bunga yang diterima               35.408.909                       17.534.407                 Interest income received
Beban keuangan yang dibayar                 (644.149.321)                    (487.018.591)                       Finance cost paid
Pembayaran pajak penghasilan                                                                                           Payments of
  badan                                     (573.585.700)                    (545.699.596)                 corporate income tax
Penerimaan dari restitusi pajak                                                                   Cash received from tax restitution
  dan imbalan bunga                         383.010.543                      471.842.634                and tax interest rewards

Kas neto yang diperoleh dari                                                                                 Net cash provided by
  aktivitas operasi                         594.224.534                     2.442.306.662                    operating activities


ARUS KAS DARI                                                                                                 CASH FLOWS FROM
  AKTIVITAS INVESTASI :                                                                               INVESTING ACTIVITIES:
Pemberian pinjaman kepada                                                                                        Cash paid for loans
  pihak berelasi                            (310.733.147)                    (445.771.165)                        to related parties
Penerimaan dana dari                                                                                             Cash received from
  pihak berelasi                             294.111.954                      284.839.736                            related parties
Perolehan aset tetap                        (303.472.567)     12,41          (268.246.300)               Acquisitions of fixed assets
Penambahan biaya pengembangan                                                                        Additional development cost of
  plasma, neto                              (115.279.252)                    (123.863.380)                               plasma, net
Penambahan uang muka                                                                                   Additional advance purchase
  pembelian aset tetap                      (122.506.262)                    (143.548.433)                           of fixed assets
Penempatan deposito berjangka               (888.190.872)                               -                 Placement of time deposit
Perolehan tanaman belum                                                                                       Additions to immature
  menghasilkan                                (4.501.059)       12            (11.617.692)                                plantations
Penambahan aset tak berwujud                    (326.865)                      (2.131.444)             Additions of intangible assets

Kas neto yang digunakan untuk                                                                                    Net cash used in
  aktivitas investasi                     (1.450.898.070)                    (710.338.678 )                 investing activities




     Catatan atas laporan keuangan konsolidasian terlampir                 The accompanying notes to the consolidated financial
       merupakan bagian integral dari laporan keuangan                     statements form an integral part of these consolidated
                         konsolidasian.                                                    financial statements.

                                                                7




                                                                                                                                                         295
                                                                                                              PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                    Laporan Tahunan 2023 Annual Report
Page 296
                                                                                              The original consolidated financial statements included herein
                                                                                                                            are in the Indonesian language.

                            PT SAWIT SUMBERMAS SARANA Tbk.                                          PT SAWIT SUMBERMAS SARANA Tbk.
                                  DAN ENTITAS ANAKNYA                                                      AND ITS SUBSIDIARIES
                        LAPORAN ARUS KAS KONSOLIDASIAN(lanjutan)                                      CONSOLIDATED STATEMENT OF
                               Untuk tahun yang Berakhir pada                                             CASH FLOWS (continued)
                                 Tanggal 31 Desember 2023                                           For the year Ended December 31, 2023
                               (Disajikan dalam ribuan Rupiah,                                       (Expressed in thousands of Rupiah,
                                   kecuali dinyatakan lain)                                                unless otherwise stated)



                                                           Untuk tahun yang Berakhir pada Tanggal 31 Desember/
                                                                   For the years Ended December 31,

                                                                                              Disajikan Kembali
                                                                                                 - Catatan 4/
                                                                                                As restated -
                                                                                   Catatan/         Note 4
                                                                  2023              Notes            2022

                     ARUS KAS DARI                                                                                                 CASH FLOWS FROM
                       AKTIVITAS PENDANAAN:                                                                                  FINANCING ACTIVITIES:
                     Utang bank                                                                                                                  Bank loan
                     - Pembayaran                              (4.696.189.273)        40             (3.882.693.301)                      Repayments -
                     - Penerimaan                               6.333.049.559         40              7.009.422.556                           Proceeds -
                     Pembayaran utang                                                                                                Payments of finance
                       sewa pembiayaan                                (265.653)                            (665.000)                      lease liability
                     Pembayaran liabilitas sewa                     (3.551.865)                         (11.409.021)          Payments of lease liabilities
                     Pembayaran dividen kas                       (710.946.000)      26b             (1.477.410.729)           Payments of cash dividend
                     Pembayaran utang obligasi                    (633.067.305)                      (3.502.781.213)            Payments of senior notes
                     Pembayaran dividen kas                                                                                     Payment of cash dividend
                       Kepada entitas non-pengendali                (1.040.500)                                   -           to non-controlling interest
                     Pembayaran upfront fee                                  -        17                (46.500.000)              Payments of upfront fee

                     Kas neto yang                                                                                                             Net cash
                       diperoleh dari/                                                                                                   provided by/
                       (digunakan untuk)                                                                                                     (used in)
                       aktivitas pendanaan                        287.988.963                        (1.912.036.708)               financing activities

                                                                                                                                      NET DECREASE
                       PENURUNAN NETO                                                                                                 IN CASH AND
                       KAS DAN SETARA KAS                         (568.684.573)                        (180.068.724)            CASH EQUIVALENTS

                     DAMPAK NETO PERUBAHAN                                                                            NET EFFECT OF CHANGES IN
                       NILAI TUKAR ATAS KAS DAN                                                                     EXCHANGES RATES ON CASH
                       SETARA KAS                                     (861.526)                           1.957.858   AND CASH EQUIVALENSTS

                     KAS DAN SETARA KAS                                                                                CASH AND CASH EQUIVALENTS
                       AWAL TAHUN                                1.806.836.518        5              1.984.947.384         AT BEGINNING OF YEAR

                     KAS DAN SETARA KAS                                                                                CASH AND CASH EQUIVALENTS
                       AKHIR TAHUN                               1.237.290.419        5              1.806.836.518               AT END OF YEAR




                           Catatan atas laporan keuangan konsolidasian terlampir                 The accompanying notes to the consolidated financial
                             merupakan bagian integral dari laporan keuangan                     statements form an integral part of these consolidated
                                               konsolidasian.                                                    financial statements.

                                                                                      8




296 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 297
                                                                  The original consolidated financial statements included herein
                                                                                                are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                           AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                  Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                              financial statements
               Tanggal 31 Desember 2023                                       As of December 31, 2023
              dan untuk tahun yang berakhir                                   and for year then ended
                  pada tanggal tersebut                                  (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                  unless otherwise stated)
                 kecuali dinyatakan lain)


1.   UMUM                                                        1.   GENERAL

     a.    Pendirian dan informasi umum                               a. Establishment and general information

           PT     Sawit    Sumbermas        Sarana    Tbk.               PT Sawit Sumbermas Sarana Tbk. (the
           (“Perseroan”) didirikan di Jakarta, berdasarkan               “Company”) was established in Jakarta based
           Akta No. 51 tanggal 22 November 1995 dari                     on the Notarial Deed No. 51 of Enimarya Agoes
           Notaris Enimarya Agoes Suwarko, S.H., Akta                    Suwarko, S.H., dated November 22, 1995. The
           pendirian Perseroan telah memperoleh                          deed of establishment was approved by Ministry
           pengesahan dari Kementerian Hukum dan Hak                     of Law and Human Rights of the Republic of
           Asasi Manusia Republik Indonesia dengan                       Indonesia in its Decision Letter No. C2-
           Surat Keputusan No. C2-8176.HT.01.01.TH.96                    8176.HT.01.01.TH.96 dated July 26, 1996 and
           tanggal 26 Juli 1996, serta selanjutnya                       subsequently published in the Republic of
           diumumkan dalam Berita Negara Republik                        Indonesia State of Gazzette No. 839,
           Indonesia No. 839, Tambahan No. 36 tanggal                    Supplement No. 36 dated February 22, 2011.
           22 Februari 2011.

           Anggaran Dasar Perseroan telah mengalami                      The Company’s Articles of Association have
           beberapa kali perubahan. Perubahan terakhir                   been amended several times. The latest
           berdasarkan Akta No. 66 tanggal 30 September                  amendment was legalized under Notarial Deed
           2022 dari Notaris Aulia Taufani, S.H., tentang                No. 66 of Aulia Taufani, S.H., dated
           perubahan Anggaran Dasar Perseroan.                           September     30,   2022 in        relation   to
           Perubahan ini telah memperoleh pengesahan                     the amendment of the Company’s Article of
           dari Kementerian Hukum dan Hak Asasi                          Association. This amendment was approved by
           Manusia      dengan      Surat      Keputusan                 Ministry of Law and Human Rights of the
           No.AHU-AH.01.03-0305712         tanggal     25                Republic of Indonesia in its Decision Letter No.
           Oktober 2022, serta selanjutnya diumumkan                     AHU-AH.01.03-0305712 dated October 25,
           dalam Berita Negara Republik Indonesia No. 88                 2022, and subsequently published in the
           tahun 2022, Tambahan No. 038255 tahun 2022.                   Republic of Indonesia State of Gazzette No. 88
                                                                         year 2022, Supplement No. 038255 tahun 2022.

           Perseroan berdomisili di Pangkalan Bun,                       The Company is domiciled in Pangkalan Bun,
           Kabupaten Kotawaringin Barat, Kalimantan                      Kotawaringin Barat, Central Kalimantan,
           Tengah, Indonesia dengan kantor pusat di                      Indonesia, with its head office located on
           Jl. Haji Udan Said No. 47, Pangkalan Bun.                     Jl. Haji Udan Said No. 47, Pangkalan Bun.

           Sesuai dengan Pasal 3 Anggaran Dasar                           As stated in Article 3 of the Company’s Articles
           Perseroan, ruang lingkup kegiatan Perseroan                    of Association, the scope of the Company’s
           adalah pertanian, perdagangan, dan industri.                   activities is in agriculture, trade, and industry.

           Perseroan mulai beroperasi secara komersial                    The Company commenced its commercial
           pada tahun 2005. Perseroan dan kelompok                        operations in 2005. The Company and its Group
           usaha terutama bergerak di bidang perkebunan                   are primarily involved in the operations of oil
           kelapa sawit dan pabrik kelapa sawit yang                      palm plantations and a palm oil mill which
           memproduksi minyak kelapa sawit dan inti sawit                 produces crude palm oil and palm kernel with
           dengan kapasitas produksi 510 MT tandan                        production capacities of 510 MT of fresh fruit
           buah segar (“TBS”) per jam (tidak diaudit).                    bunches (“FFB”) per hour (unaudited). The oil
           Perkebunan kelapa sawit dan kedua pabrik                       palm plantation and both palm oil mills are
           kelapa sawit berlokasi di Kalimantan Tengah.                   located in Central Kalimantan.




                                                             9




                                                                                                                                                   297
                                                                                                        PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                              Laporan Tahunan 2023 Annual Report
Page 298
                                                                                           The original consolidated financial statements included herein
                                                                                                                         are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                   financial statements
                                      Tanggal 31 Desember 2023                                            As of December 31, 2023
                                     dan untuk tahun yang berakhir                                        and for year then ended
                                         pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                                        kecuali dinyatakan lain)


                      1.    UMUM (lanjutan)                                               1.   GENERAL (continued)
                            a.    Pendirian dan informasi umum (lanjutan)                      a.    Establishment     and     general    information
                                                                                                     (continued)
                                  Berdasarkan surat yang dikeluarkan oleh Biro                       Based on a letter issued by the Securities
                                  Administrasi Efek No. DE/I/24-0301 mengenai                        Administration Bureau No. DE/I/24-0301
                                  komposisi kepemilikan saham Perseroan per                          regarding the composition of the Company's
                                  31 Desember 2023, PT Citra Borneo Indah                            share ownership as of December 31, 2023, PT
                                  (“CBI”)   merupakan     pemegang      saham                        Citra Borneo Indah ("CBI") is the Company’s
                                  pengendali Perseroan.                                              controlling shareholder.

                                  Pada tanggal 31 Desember 2023, 2022, dan                           As of December 31, 2023, 2022 and 2021, the
                                  2021, entitas induk utama Perseroan adalah                         ultimate parent entity of the Company is CBI.
                                  CBI.
                                  Pemegang manfaat (ultimate beneficial owner)                       The ultimate beneficial owner of the Company is
                                  Perseroan adalah Bapak Abdul Rasyid AS.                            Mr. Abdul Rasyid AS.
                            b. Penawaran umum saham perseroan dan                              b. Public offering of the company’s shares and
                               tindakan perseroan lainnya                                         other corporate actions
                                  Pada tanggal 29 November 2013, Perseroan                           On November 29, 2013, the Company obtained
                                  memperoleh Surat Pernyataan Efektif dari                           the Effective Statement Letter from Board of
                                  Dewan Komisioner Otoritas Jasa Keuangan                            Commissioners of Financial Services Authority
                                  (“OJK”) dengan suratnya No. S-393/D.04/2013                        (“OJK”) through its Letter No. S-393/D.04/2013
                                  untuk melakukan penawaran umum saham                               for the Company’s initial public offering of
                                  perdana sejumlah 1.500.000.000 saham biasa                         1,500,000,000 common shares to the public with
                                  atas nama dengan nilai nominal Rp100 (angka                        a par value of Rp100 (full amount) per share at
                                  penuh) setiap lembar saham yang ditawarkan                         an offering price of Rp670 (full amount) per
                                  kepada masyarakat dengan harga penawaran                           share. Included in the number of initial public
                                  Rp670 (angka penuh) setiap saham. Termasuk                         shares offered to the Public are shares that have
                                  di dalam jumlah saham umum perdana kepada                          been allocated in connection with Employee
                                  masyarakat adalah saham yang telah                                 Stock    Allocation    Program      ("ESA")    of
                                  dialokasikan sehubungan dengan Program                             150,000,000 shares based on the Director
                                  Alokasi Saham Karyawan (Employee Stock                             Decision      Letter      No.       Dir.Kom/IPO-
                                  Allocation atau “ESA”) sejumlah 150.000.000                        ESA/001/VIII/2013 dated September 19, 2013.
                                  saham berdasarkan Surat Keputusan Direksi                          These shares were listed on the Indonesia Stock
                                  No. Dir.Kom/IPO-ESA/001/VIII/2013 tanggal                          Exchange on December 12, 2013.
                                  19     September      2013.     Pada   tanggal
                                  12 Desember 2013, seluruh saham tersebut
                                  telah dicatat di Bursa Efek Indonesia.
                                  Perseroan melalui anak Perseroan, SSMS                             The Company through its subsidiary, SSMS
                                  Plantation Holding Pte. Ltd., (“SPH”)                              Plantation Holding Pte. Ltd., (“SPH”) issued
                                  menerbitkan      obligasi     global     senilai                   global bonds amounting to US$300,000,000
                                  AS$300.000.000 dengan bunga 7,75%.                                 with an interest of 7.75%. The 5-year bonds
                                  Obligasi bertenor 5 tahun dan jatuh tempo pada                     which mature in January 2023 are listed and
                                  bulan Januari 2023 tersebut tercatat dan                           traded on The Singapore Exchange Securities
                                  diperdagangkan di The Singapore Exchange                           Trading Ltd (“SGX”) on January 24, 2018. In
                                  Securities Trading Ltd (“SGX”) pada tanggal 24                     issuing these bonds, The Bank of New York
                                  Januari 2018. Dalam penerbitan obligasi                            Mellon, London Branch, acts as trustee. In
                                  tersebut, The Bank of New York Mellon,                             January 2023, SPH has fully settled the bonds.
                                  Cabang London, bertindak sebagai wali                              (Note 24)
                                  amanat. Pada Januari 2023, SPH telah
                                  melunasi seluruh obligasi tersebut.(Catatan 24)




                                                                                     10




298 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 299
                                                                The original consolidated financial statements included herein
                                                                                              are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                 financial statements
            Tanggal 31 Desember 2023                                          As of December 31, 2023
           dan untuk tahun yang berakhir                                      and for year then ended
               pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
              kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                           1.   GENERAL (continued)
     b. Penawaran umum saham perseroan dan                          b. Public offering of the company’s shares and
        tindakan perseroan lainnya (lanjutan)                          other corporate actions (continued)
        Pada tanggal 31 Oktober 2022, CBUT, entitas                      On October 31,         2022, CBUT obtained
        anak, mendapatkan Surat Pemberitahuan                            Notification Letter of Effective Registration
        Efektif Pernyataan Pendaftaran No. S-                            Statement No.S-226/D.04/2022 of Initial Public
        226/D.04/2022 atas Penawaran        Umum                         Offering of Share from the Financial Services
        Perdana Saham dari Otoritas Jasa Keuangan                        Authority on its public offering of 625,000,000
        untuk melakukan penawaran umum atas                              shares with par value of Rp100 at the offering
        625.000.000 saham Perseroan dengan nilai                         price of Rp690 per share.
        nominal Rp100 per saham pada harga
        penawaran sebesar Rp690 per saham kepada
        masyarakat.
        Pada tanggal 31 Desember 2023 dan 2022,                          As of December 31, 2023 and 2022, all of the
        seluruh saham Perseroan dan CBUT tercatat di                     Company’s and CBUT’s shares are listed in the
        Bursa Efek Indonesia.                                            Indonesia Stock Exchange.
     c. Manajemen kunci dan informasi lainnya                       c. Key management and other informations

        Berdasarkan Akta Notaris terakhir No. 18                         Based on the latest Notarial Deed No. 18 dated
        tanggal 5 Desember 2023 dari Aulia Taufani,                      December 5, 2023, of Aulia Taufani, S.H.
        S.H. Notaris di Jakarta, susunan Dewan                           Notary in Jakarta, the composition of the
        Komisaris dan Direksi Perseroan per                              Company’s Boards of Commissioners and
        31 Desember 2023 dan 2022 adalah sebagai                         Directors as of December 31, 2023 and 2022
        berikut:                                                         is as follows:
         Dewan Komisaris                                                                        Board of Commissioners
         Komisaris Utama                           Bungaran Saragih                             President Commissioner
         Komisaris Independen                          Hoesen                                Independent Commissioner
         Komisaris                                Rimbun Situmorang                                       Commissioner
         Direksi                                                                                       Board of Directors
         Direktur Utama                         Nasarudin Bin Nasir                                    President Director
         Direktur                                  Jap Hartono                                                   Director
         Direktur                             Muhammad Syafril Harahap                                           Director
        Perseroan menunjuk Swasti Kartikaningtyas                       The      Company       appointed    Swasti
        sebagai Sekretaris Perseroan. Pada tanggal 28                   Kartikaningtyas as the Company’s Corporate
        April    2023,      Swasti     Kartikaningtyas                  Secretary. On April 28, 2023, Swasti
        mengundurkan      diri  sebagai      Sekretaris                 Kartikaningtyas resigned as Corporate
        Perseroan. Pada tanggal 26 Juni 2023,                           Secretary. On June 26, 2023, the Company
        Perseroan, menunjuk Jap Hartono sebagai                         appointed Jap Hartono as the Company’s
        Sekretaris Perseroan.                                           Corporate Secretary.
        Susunan   Komite   Audit   pada tanggal                         The composition of the Audit Committee as of
        31 Desember 2023 adalah sebagai berikut:                        December 31, 2023 are as follow:
         Ketua                                          Hoesen                                                   Chairman
         Anggota                                   Arini Imamawati                                                Member
         Anggota                                 Arif M Prawirawinata                                             Member
        Susunan   Komite   Audit   pada tanggal                         The composition of the Audit Committee as of
        31 Desember 2022 adalah sebagai berikut:                        December 31, 2022 are as follow:
         Ketua                                        Hoesen                                                     Chairman
         Anggota                                  Arini Imamawati                                                 Member
         Anggota                                  Lukman Nur Aziz                                                 Member



                                                          11




                                                                                                                                                 299
                                                                                                      PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                            Laporan Tahunan 2023 Annual Report
Page 300
                                                                                                  The original consolidated financial statements included herein
                                                                                                                                are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                            PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                       AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                              Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                          financial statements
                                      Tanggal 31 Desember 2023                                                   As of December 31, 2023
                                     dan untuk tahun yang berakhir                                               and for year then ended
                                         pada tanggal tersebut                                              (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                              unless otherwise stated)
                                        kecuali dinyatakan lain)


                      1.    UMUM (lanjutan)                                                      1.   GENERAL (continued)

                            c. Manajemen kunci dan informasi lainnya                                  c.     Key management and other informations
                               (lanjutan)                                                                    (continued)

                                  Pada tanggal 31 Desember 2023 dan 2022,                                    As of December 31, 2023 and 2022, the
                                  kepala Unit Audit Internal Kelompok Usaha                                  Group head of internal audit unit is Anjar
                                  adalah Anjar Widiarso.                                                     Widiarso.

                                  Personil manajemen kunci Perseroan meliputi                                Key management personnel of the Company
                                  Dewan Komisaris dan Direksi. Kompensasi                                    are the Boards of Commissioners and
                                  imbalan kerja jangka pendek yang dibayarkan                                Directors. Short-term compensation paid to
                                  kepada personil manajemen kunci Perseroan                                  the key management personnel of the
                                  untuk tahun yang berakhir pada tanggal                                     Company for the year ended December 31,
                                  31 Desember 2023 dan 2022 masing-masing                                    2023 and 2022 amounted to Rp49,317,686
                                  adalah     sebesar     Rp49.317.686     dan                                and Rp39,942,682, respectively. There is no
                                  Rp39.942.682. Tidak terdapat kompensasi                                    compensation of post-employment benefit,
                                  dalam bentuk imbalan pascakerja, imbalan                                   other long-term benefit, termination benefits,
                                  kerja jangka panjang lainnya, pesangon                                     and share-based payment for the key
                                  pemutusan kontrak kerja dan pembayaran                                     management personnel.
                                  berbasis saham.

                                  Pada tanggal 31 Desember 2023, Kelompok                                    As of December 31, 2023, the Group
                                  usaha memiliki   12.646   karyawan tetap                                   has   12,646     permanent employees
                                  (31 Desember 2022: 11.842 karyawan tetap)                                  (December 31, 2022: 11,842 permanent
                                  (tidak diaudit).                                                           employees) (unaudited).

                            d. Penyelesaian               laporan         keuangan                    d.     Completion      of    consolidated        financial
                               konsolidasian                                                                 statements

                                  Laporan keuangan konsolidasian Kelompok                                    The Group and its subsidiaries’ consolidated
                                  usaha tanggal 31 Desember 2023 dan untuk                                   financial statements as of December 31, 2023
                                  tahun yang berakhir pada tanggal tersebut                                  and for the year then ended are completed
                                  diselesaikan dan diotorisasi untuk terbit oleh                             and authorized for issuance by the Company’s
                                  Direksi Perseroan pada tanggal 27 Maret 2024.                              Directors on March 27, 2024. The Company’s
                                  Direksi Perseroan yang menandatangani Surat                                Directors who signed the Board of Directors’
                                  Pernyataan Direksi bertanggung jawab atas                                  Statement are responsible for the fair
                                  penyusunan dan kewajaran penyajian laporan                                 preparation and presentation of such
                                  keuangan konsolidasian tersebut.                                           consolidated financial statements.

                            e.    Entitas anak dan entitas asosiasi                                   e.     Subsidiaries and associated entities
                                  Kepemilikan Perseroan pada entitas anak yang                               The Company’s ownership interests directly or
                                  dikonsolidasi dan entitas asosiasi baik secara                             indirectly in the consolidated subsidiaries and
                                  langsung maupun tidak langsung (selanjutnya                                associated companies (hereinafter collectively
                                  secara bersama-sama disebut “Kelompok                                      referred to as the “Group”) are as follows:
                                  Usaha”) adalah sebagai berikut:
                                                                                                            Mulai
                                                                                                      Beroperasi Secara           Persentase Kepemilikan/
                                                                                                          Komersial/         Percentage of Ownership Interest
                                                                             Kegiatan Usaha/           Commencement
                                    Nama Entitas Anak/       Domisili/      Nature of Business          of Commercial     31 Desember 2023/    31 Desember 2022/
                                   Name of Subsidiaries      Domicile           Activities                Operations      December 31, 2023    December 31, 2022

                                 Pemilikan langsung/
                                 Direct ownership
                                 PT Kalimantan Sawit       Kotawaringin   Perkebunan dan pabrik              2005                     99%                   99%
                                    Abadi (“KSA”)             Barat            kelapa sawit/
                                                                           Oil palm plantations
                                                                             and palm oil mill




                                                                                      12




300 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 301
                                                                             The original consolidated financial statements included herein
                                                                                                           are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                              PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                         AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                                Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                            financial statements
               Tanggal 31 Desember 2023                                                     As of December 31, 2023
              dan untuk tahun yang berakhir                                                 and for year then ended
                  pada tanggal tersebut                                                (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                                unless otherwise stated)
                 kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                                        1.   GENERAL (continued)

     e.    Entitas anak dan entitas asosiasi (lanjutan)                          e.     Subsidiaries     and      associated        entities
                                                                                        (continued)

           Kepemilikan Perseroan pada entitas anak yang                                 The Company’s ownership interests directly or
           dikonsolidasi dan entitas asosiasi baik secara                               indirectly in the consolidated subsidiaries and
           langsung maupun tidak langsung (selanjutnya                                  associated companies (hereinafter collectively
           secara bersama-sama disebut “Kelompok                                        referred to as the “Group”) are as follows:
           Usaha”) adalah sebagai berikut: (lanjutan)                                   (continued)

                                                                                       Mulai
                                                                                 Beroperasi Secara           Persentase Kepemilikan/
                                                                                     Komersial/         Percentage of Ownership Interest
                                                        Kegiatan Usaha/           Commencement
             Nama Entitas Anak/        Domisili/       Nature of Business          of Commercial     31 Desember 2023/    31 Desember 2022/
            Name of Subsidiaries       Domicile            Activities                Operations      December 31, 2023    December 31, 2022


          Pemilikan langsung/
          Direct ownership

          PT Mitra Mendawai          Kotawaringin   Perkebunan dan pabrik               2008                     99%                    99%
            Sejati (“MMS”)              Barat         kelapa sawit dan inti
                                                    sawit//Oil palm plantations,
                                                        Palm oil mill and
                                                      Kernel crushing plant
          SSMS Plantation                                  Perseroan
            Holding Pte.Ltd.                         jasa pendukung bisnis/
            (“SPH”)                   Singapore            Company                      2018                    100%                   100%
                                                    bussiness support service
          Sawit Sumbermas                                  Perseroan
            International Pte.Ltd.                  penjual produk kelapa sawit/
            (“SSI”)                   Singapore            Company                      2018                    100%                   100%
                                                       Whole sale of palm oil

          PT Citra Borneo            Kotawaringin          Industri,                    2018                   78,2%                        -
            Utama Tbk. (“CBUT”)         Barat         dan perdagangan/
                                                           Industry
                                                         and trading

          Pemilikan tidak langsung melalui KSA/
          Indirect ownership through KSA
          PT Tanjung Sawit          Kotawaringin    Perkebunan dan pabrik               2012                     99%                    99%
             Abadi (“TSA”)             Barat             kelapa sawit/
                                                     Oil palm plantations
                                                       and palm oil mill
          PT Sawit Multi             Kotawaringin   Perkebunan dan pabrik               2012                     99%                    99%
            Utama (“SMU”)               Barat            Kelapa sawit/
                                                     Oil palm plantations
                                                       and palm oil mill
          Pemilikan tidak langsung melalui MMS/
          Indirect ownership through MMS
          PT Mirza Pratama          Kotawaringin    Perkebunan dan pabrik               2011                     99%                    99%
             Putra (“MPP”)             Barat             kelapa sawit/
                                                     Oil palm plantations
                                                       and palm oil mill
          PT Menteng Kencana         Kotawaringin   Perkebunan dan pabrik               2010                     99%                    99%
            Mas (“MKM”)                 Barat            kelapa sawit/
                                                     Oil palm plantations
                                                       and palm oil mill
          Pemilikan tidak langsung melalui SPH/
          Indirect ownership through SPH
          SSMS Plantation Singapore Singapore        Jasa konsultasi dan                2018                     99%                    99%
             International Pte.Ltd.                     perdagangan/
             (“SPI”)                                 Consultancy services
                                                         and trading




                                                                 13




                                                                                                                                                                301
                                                                                                                     PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                           Laporan Tahunan 2023 Annual Report
Page 302
                                                                                                  The original consolidated financial statements included herein
                                                                                                                                are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                              PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                         AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                            financial statements
                                      Tanggal 31 Desember 2023                                                     As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                 and for year then ended
                                         pada tanggal tersebut                                                (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                unless otherwise stated)
                                        kecuali dinyatakan lain)


                      1.    UMUM (lanjutan)                                                      1.     GENERAL (continued)
                            e.    Entitas anak dan entitas asosiasi (lanjutan)                          e.     Subsidiaries      and      associated         entities
                                                                                                               (continued)

                                  Kepemilikan Perseroan pada entitas anak yang                                 The Company’s ownership interests directly or
                                  dikonsolidasi dan entitas asosiasi baik secara                               indirectly in the consolidated subsidiaries and
                                  langsung maupun tidak langsung (selanjutnya                                  associated companies (hereinafter collectively
                                  secara bersama-sama disebut “Kelompok                                        referred to as the “Group”) are as follows:
                                  Usaha”) adalah sebagai berikut: (lanjutan)                                   (continued)
                                                                                                              Mulai
                                                                                                        Beroperasi Secara           Persentase Kepemilikan/
                                                                                                            Komersial/         Percentage of Ownership Interest
                                                                             Kegiatan Usaha/             Commencement
                                    Nama Entitas Anak/      Domisili/       Nature of Business            of Commercial     31 Desember 2023/     31 Desember 2022/
                                   Name of Subsidiaries     Domicile            Activities                  Operations      December 31, 2023     December 31, 2022

                                   EntitasAsosiasi/
                                   Associated Entities
                                   PT Citra Borneo       Kotawaringin            Industri,                     2013                           -                 26%
                                     Utama Tbk. (“CBUT”)    Barat           dan perdagangan/
                                                                                 Industry
                                                                               and trading

                                   PT Surya Borneo        Kotawaringin           Kawasan                       2013                       49%                   49%
                                     Industri (“SBI”)        Barat               indurstri/
                                                                              Industrial area

                                  Total aset pada entitas anak yang dikonsolidasi                              Total assets of subsidiaries directly or
                                  dan entitas asosiasi baik secara langsung                                    indirectly in the consolidated subsidiaries and
                                  maupun tidak langsung (selanjutnya secara                                    associated companies (hereinafter collectively
                                  bersama-sama disebut “Kelompok Usaha”)                                       referred to as the “Group”) are as follows:
                                  adalah sebagai berikut:
                                                                                                              Mulai           Total Aset Sebelum Eliminasi (dalam
                                                                                                        Beroperasi Secara     Jutaan Rupiah)/ Total Assets Before
                                                                                                            Komersial/          Elimination (in millions of Rupiah)
                                                                             Kegiatan Usaha/             Commencement
                                    Nama Entitas Anak/      Domisili/       Nature of Business            of Commercial     31 Desember 2023/     31 Desember 2022/
                                   Name of Subsidiaries     Domicile            Activities                  Operations      December 31, 2023     December 31, 2022

                                 Pemilikan langsung/
                                 Direct ownership
                                 PT Kalimantan Sawit      Kotawaringin   Perkebunan dan pabrik                 2005                 4.951.871             4.671.269
                                    Abadi (“KSA”)            Barat             kelapa sawit/
                                                                           Oil palm plantations
                                                                             and palm oil mill
                                 PT Mitra Mendawai        Kotawaringin   Perkebunan dan pabrik                 2008                 3.603.462             3.481.039
                                   Sejati (“MMS”)            Barat         kelapa sawit dan inti
                                                                         sawit//Oil palm plantations,
                                                                             Palm oil mill an
                                                                          Kernel crushing plant

                                 SSMS Plantation           Singapore            Perseroan                      2018                 1.878.296               992.511
                                 Holding Pte.Ltd                          jasa pendukung bisnis/
                                   (“SPH”)                                       Company
                                                                         bussiness support service
                                 Sawit Sumbermas                                Perseroan
                                 International Pte.Ltd.                  penjual produk kelapa sawit/
                                 (“SSI”)                   Singapore             Company                       2018                         15                    10
                                                                         Whole sale of palm oil

                                 PT Citra Borneo          Kotawaringin           Industri,                     2018                 4.336.194             3.019.974
                                   Utama Tbk. (“CBUT”)       Barat          dan perdagangan/
                                                                                 Industry
                                                                               and trading




                                                                                       14




302 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 303
                                                                            The original consolidated financial statements included herein
                                                                                                          are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                             PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                        AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                               Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                           financial statements
               Tanggal 31 Desember 2023                                                    As of December 31, 2023
              dan untuk tahun yang berakhir                                                and for year then ended
                  pada tanggal tersebut                                               (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                               unless otherwise stated)
                 kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                                       1.   GENERAL (continued)
     e.    Entitas anak dan entitas asosiasi (lanjutan)                         e.     Subsidiaries      and      associated         entities
                                                                                       (continued)

           Total aset pada entitas anak yang dikonsolidasi                             Total assets of subsidiaries directly or
           dan entitas asosiasi baik secara langsung                                   indirectly in the consolidated subsidiaries and
           maupun tidak langsung (selanjutnya secara                                   associated companies (hereinafter collectively
           bersama-sama disebut “Kelompok Usaha”)                                      referred to as the “Group”) are as follows:
           adalah sebagai berikut: (lanjutan)
                                                                                      Mulai           Total Aset Sebelum Eliminasi (dalam
                                                                                Beroperasi Secara     Jutaan Rupiah)/ Total Assets Before
                                                                                    Komersial/          Elimination (in millions of Rupiah)
                                                      Kegiatan Usaha/            Commencement
             Nama Entitas Anak/       Domisili/      Nature of Business           of Commercial     31 Desember 2023/     31 Desember 2022/
            Name of Subsidiaries      Domicile           Activities                 Operations      December 31, 2023     December 31, 2022


          Pemilikan tidak langsung melalui KSA/
          Indirect ownership through KSA
          PT Tanjung Sawit          Kotawaringin   Perkebunan dan pabrik               2012                 2.074.383              1.985.399
             Abadi (“TSA”)             Barat            kelapa sawit/
                                                    Oil palm plantations
                                                      and palm oil mill
          PT Sawit Multi            Kotawaringin   Perkebunan dan pabrik               2012                 1.707.597              1.604.380
            Utama (“SMU”)              Barat            kelapa sawit/
                                                    Oil palm plantations
                                                      and palm oil mill
          Pemilikan tidak langsung melalui MMS/
          Indirect ownership through MMS
          PT Mirza Pratama          Kotawaringin        Perkebunan/                    2011                   724.200                574.465
             Putra (“MPP”)             Barat        Oil palm plantations

          PT Menteng Kencana        Kotawaringin        Perkebunan/                    2010                 1.382.367              1.443.576
            Mas (“MKM”)                Barat        Oil palm plantations

          Pemilikan tidak langsung melalui SPH/
          Indirect ownership through SPH
          SSMS Plantation            Singapore     Jasa konsultasi dan                 2018                 1.928.002              1.078.646
             International Pte.Ltd.                   perdagangan/
             (“SPI”)                               Consultancy services
                                                       and trading

          EntitasAsosiasi/Associated Entities

          PT Surya Borneo           Kotawaringin          Kawasan                      2018                 1.035.551              1.169.732
            Industri (“SBI”)           Barat              industri/
                                                       Industrial area

           KSA dan MMS memiliki pabrik pengolahan                                      KSA and MMS have palm oil mills located at
           kelapa sawit yang berlokasi di Kotawaringin                                 Kotawaringin Barat, Central Kalimantan, with
           Barat, Kalimantan Tengah dengan total                                       processing capacities of 60 MT FFB per hour
           kapasitas produksi masing-masing sebesar 60                                 for KSA and 60 MT FFB per hours for MMS
           MT TBS per jam untuk KSA dan 60 MT TBS per                                  (unaudited), respectively. MMS has kernel
           jam untuk MMS (tidak diaudit). MMS memiliki                                 crushing plant located in Kotawaringin Barat
           pabrik inti sawit yang berlokasi di Kotawaringin                            with total processing capacity of 200 MT of
           Barat dengan total kapasitas produksi sebesar                               palm kernel (“PK”) per day (unaudited).
           200 MT inti sawit (“PK”) per hari (tidak diaudit).




                                                                15




                                                                                                                                                                 303
                                                                                                                     PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                            Laporan Tahunan 2023 Annual Report
Page 304
                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                 financial statements
                                      Tanggal 31 Desember 2023                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                      and for year then ended
                                         pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      1.    UMUM (lanjutan)                                             1.   GENERAL (continued)
                            e.    Entitas anak dan entitas asosiasi (lanjutan)               e.     Subsidiaries     and     associated      entities
                                                                                                    (continued)
                                  KSA dan entitas anaknya (TSA dan SMU)                             KSA and its subsidiaries (TSA and SMU)
                                  memiliki lahan tanaman menghasilkan sebesar                       owned 30,532 Ha of mature plantations area
                                  30.532 Ha pada 31 Desember 2023 dan 2022                          and no immature plantations area (unaudited)
                                  dan tidak terdapat area tanaman belum                             as of December 31, 2023 and 2022.
                                  menghasilkan (tidak diaudit).
                                  TSA dan SMU bergerak di bidang perkebunan                         TSA and SMU involves in operations of oil
                                  kelapa sawit dan pabrik kelapa sawit yang                         palm plantations and operations of palm oil mill
                                  memproduksi minyak kelapa sawit dan inti sawit                    located at Lamandau which produces crude
                                  yang keduanya berlokasi di Lamandau dan                           palm oil and palm kernel with production
                                  dengan kapasitas produksi masing-masing 60                        capacities of 60 MT of FFB per hour for TSA
                                  MT TBS per jam untuk TSA dan 75 MT TBS per                        and 75 MT of FFB per hour for SMU
                                  jam untuk SMU (tidak diaudit).                                    (unaudited).
                                  MMS dan entitas anaknya (MKM dan MPP)                             MMS and its subsidiaries (MKM and MPP)
                                  memiliki lahan tanaman menghasilkan sebesar                       owned 18,664 Ha of mature plantations area
                                  18.664 Ha dan area tanaman belum                                  and 17.73 Ha of immature plantations area
                                  menghasilkan sebesar 17,73 Ha (tidak diaudit)                     (unaudited) as of December 31, 2023 and
                                  pada tanggal 31 Desember 2023 dan 2022.                           2022.
                                  MKM dan MPP bergerak di bidang perkebunan                         MKM and MPP involves in operations of oil
                                  kelapa sawit dan pabrik kelapa sawit yang                         palm plantations and operations of palm oil mill
                                  memproduksi minyak kelapa sawit dan inti sawit                    located at Pulang Pisau and Lamandau which
                                  yang keduanya berlokasi di Pulang Pisau dan                       produces crude palm oil and palm kernel with
                                  Lamandau dengan kapasitas produksi masing-                        production capacities each of 60 MT of FFB
                                  masing 60 MT TBS per jam (tidak diaudit).                         per hour (unaudited).

                                  CBUT bergerak di bidang pengolahan minyak                         CBUT is engaged in processing of palm oil
                                  kelapa sawit yang berlokasi di Jl. ASDP/                          located at Jl. ASDP/Pelabuhan Roro
                                  Pelabuhan Roro Tempenek, Desa Kumai Hulu,                         Tempenek, Sub-district of Kumai Hulu, District
                                  Kecamatan Kumai, Kabupaten Kotawaringin                           of Kumai, Kotawaringin Barat Regency,
                                  Barat, Kalimantan Tengah dengan kapasitas                         Central Kalimantan with production capacities
                                  produksi masing-masing 2.500 MT CPO per jam                       each of 2,500 MT of CPO per hour
                                  (tidak diaudit).                                                  (unaudited).

                                  Akuisisi entitas anak di tahun 2023                               Acquisition of subsidiary in 2023

                                  Pada tanggal 19 Desember 2023, Perseroan                          On February 19, 2023, the Company acquired
                                  telah mengakuisisi 52,6% kepemilikan saham di                     52.6% shares ownership at CBUT from
                                  CBUT dari PT Citra Borneo Indah (CBI), salah                      PT Citra Borneo Indah (CBI), a shareholder,
                                  satu pemegang saham, dengan menukarkan                            for Rp3,451,309,583 as stated in the Notarial
                                  pinjaman Perseroan kepada CBI senilai                             Deed No. 59 of Aulia Taufani, S.H., dated
                                  Rp3.451.309.583 sebagaimana dinyatakan                            December 19, 2023. After the debt to equity
                                  dalam Akta Notaris Aulia Taufani, S.H., No. 59                    swab, the Group has 78.22% share ownership
                                  tanggal 19 Desember 2023. Setelah penukaran                       in CBUT with consideration paid of
                                  saham tersebut, Kelompok Usaha memiliki                           Rp4,098,809,583.
                                  78,22% saham di CBUT dengan total imbalan
                                  yang dialihkan sebesar Rp4.098.809.583.




                                                                                   16




304 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 305
                                                                    The original consolidated financial statements included herein
                                                                                                  are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                     financial statements
               Tanggal 31 Desember 2023                                              As of December 31, 2023
              dan untuk tahun yang berakhir                                          and for year then ended
                  pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
                 kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                               1.     GENERAL (continued)
     e.    Entitas anak dan entitas asosiasi (lanjutan)                   e.     Subsidiaries     and    associated        entities
                                                                                 (continued)
           Akuisisi entitas anak di tahun 2023 (lanjutan)                       Acquisition       of   subsidiary in    2023
                                                                                (continued)
           Rincian aset neto yang diakuisisi dan tambahan                        Detail of net assets acquired and additional
           modal disetor adalah sebagai berikut:                                 paid in capital are as follows:


                                                             Jumlah/
                                                             Amount
           Imbalan yang dialihkan                         4.098.809.583                                 Consideration paid
           Nilai buku aset neto                           (705.840.069)                            Book value of net assets
                                                                                             The difference arising from
           Selisih transaksi dengan                                                          the transactions between
             entitas sepengendali                      3.392.969.514                    under common control entities

           Berikut ini adalah informasi keuangan CBUT                            The following is a summary of CBUT’s
           pada tanggal akuisisi atau 19 Desember 2023:                          financial information at the acquisition date or
                                                                                 December 19, 2023:

                                                            Nilai Buku/
                                                            Book Value
          ASET                                                                                                     ASSETS
          Aset lancar                                     3.925.962.970                                      Current assets
          Aset tidak lancar                                 410.233.277                                   Non-current assets
          Total aset                                   4.336.196.247                                            Total assets


          LIABILITAS DAN EKUITAS                                                                LIABILITIES AND EQUITY

          LIABILITAS                                                                                           LIABILITIES
          Liabilitas jangka pendek                     2.659.657.734                                       Current liabilities
          Liabilitas jangka panjang                      774.119.440                                    Non-current liabilities

          Total liabilitas                             3.433.777.174                                         Total liabilities

          EKUITAS                                                                                                  EQUITY
          Modal saham                                       312.500.000                                       Share capital
          Tambahan modal disetor                            351.929.668                           Additional paid-in capital
          Saldo laba                                        213.530.992                                 Retained earnings
          Penghasilan komprehensif lain                      24.458.413                       Other comprehensive income
          Total ekuitas                                     902.419.073                                          Total equity

          Total liabilitas dan ekuitas                 4.336.196.247                            Total liabilities and equity




                                                             17




                                                                                                                                                       305
                                                                                                            PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                  Laporan Tahunan 2023 Annual Report
Page 306
                                                                                             The original consolidated financial statements included herein
                                                                                                                           are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                     financial statements
                                      Tanggal 31 Desember 2023                                              As of December 31, 2023
                                     dan untuk tahun yang berakhir                                          and for year then ended
                                         pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
                                        kecuali dinyatakan lain)


                      1.    UMUM (lanjutan)                                                 1.   GENERAL (continued)
                            e.    Entitas anak dan entitas asosiasi (lanjutan)                   e.    Subsidiaries     and     associated       entities
                                                                                                       (continued)
                                  Akuisisi entitas asosiasi di tahun 2020                              Acquisition of associated company in 2020
                                  Berdasarkan       Perjanjian       Akta    Notaris                   Based on the Notarial Deed No. 74 Notary of Dr.
                                  No. 74 Notaris Dr. Tintin Surtini, S.H., MH., Mkn.                   Tintin Surtini, S.H., MH., MKn. Dated December
                                  pada      tanggal    29     Desember         2020,                   29, 2020, the Company acquired 13% share
                                  Perseroan      mengakuisisi        13%     saham                     ownership in PT Citra Borneo Utama Tbk.
                                  PT Citra Borneo Utama Tbk. (“CBUT”), dengan                          (“CBUT”)       with    acquisition   price    of
                                  total harga akuisisi sebesar Rp600.000.000.                          Rp600,000,000. The Company acquired shares
                                  Perseroan mengakuisisi saham CBUT melalui                            ownership in CBUT through conversion of PT
                                  mekanisme konversi pinjaman jangka panjang                           Citra Borneo Indah (CBI)’s long term convertible
                                  yang dapat dikonversi PT Citra Borneo Indah                          loan to the Company’s share ownership in
                                  (CBI) dengan saham CBI pada CBUT. CBUT                               CBUT. CBUT is engaged in processing of palm
                                  bergerak di bidang pengolahan minyak kelapa                          oil. The Company recorded a fair value
                                  sawit. Perseroan telah mencatat penyesuaian                          adjustment on the investment in CBUT prior to
                                  nilai wajar atas investasi pada CBUT sebelum                         the acquisition of 13% share ownership
                                  akuisisi kepemilikan 13% lembar saham                                amounting to Rp162,871,374.
                                  sebesar Rp162.871.374.

                                  Akuisisi entitas asosiasi di tahun 2019                              Acquisition of associated company in 2019

                                  Pada tanggal 15 April 2019, Perseroan dan                            On April 15, 2019, the Company and PT Surya
                                  PT Surya Borneo Industri (SBI), pihak berelasi,                      Borneo Industri (SBI), signed a debt to equity
                                  menandatangani perjanjian konversi saham                             agreement. SBI will issue share capital at the
                                  menjadi ekuitas. SBI akan menerbitkan saham                          value of outstanding debts to the Company at
                                  senilai saldo terhutang kepada Perseroan pada                        effective date after fullfilling the several
                                  tanggal efektif setelah memenuhi beberapa                            requirements.
                                  syarat tertentu.

                                  Pada tanggal 14 Agustus 2019, Semua syarat                           As of August 14, 2019, all effective
                                  efektif penukaran pinjaman Perseroan kepada                          requirements on the Company’s loan exchange
                                  SBI telah terpenuhi. Sejak tanggal 14 Agustus                        have been fulfilled. As of August 14, 2019, the
                                  2019, kepemilikan saham Kelompok usaha                               Group’s share ownersip in SBI become 49%
                                  pada SBI menjadi 49% setelah konversi                                after the conversion of the Group’s loans and
                                  pinjaman dan piutang Kelompok usaha kepada                           receivables of Rp738,301,579 become share
                                  SBI sebesar Rp738.301.579 menjadi modal                              capital in SBI.
                                  saham SBI.

                                  Pembentukan entitas anak di tahun 2018                               Establishment of subsidiaries in 2018

                                  Sawit Sumbermas International Pte. Ltd.                              Sawit Sumbermas International Pte. Ltd.
                                  (“SSI”)                                                              (“SSI”)

                                  Pada tanggal 13 Desember 2018, Perseroan                             On December 13, 2018, the Company
                                  telah membentuk entitas anak yaitu SSI yang                          established a subsidiary, SSI, which domiciles
                                  berdomisili di Singapura. Pendirian entitas                          in   Singapore.    The     establishment    of
                                  anak tersebut untuk mendukung kegiatan                               the subsidiary is to support the Group’s
                                  usaha Kelompok Usaha.                                                bussiness.




                                                                                       18




306 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 307
                                                                   The original consolidated financial statements included herein
                                                                                                 are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                  financial statements
               Tanggal 31 Desember 2023                                           As of December 31, 2023
              dan untuk tahun yang berakhir                                       and for year then ended
                  pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
                 kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                              1.   GENERAL (continued)

     e.    Entitas anak dan entitas asosiasi (lanjutan)                e.     Subsidiaries and associated entities
                                                                              (continued)
           Pembentukan entitas anak di tahun 2017                             Establishment of subsidiaries in 2017

           SSMS Plantation Holding Pte. Ltd. (“SPH”)                          SSMS Plantation Holding Pte. Ltd. (“SPH”)
           dan SSMS Plantation International Pte. Ltd.                        and SSMS Plantation International Pte.
           (“SPI”)                                                            Ltd. (“SPI”)

           Pada tanggal 12 Juli 2017, Perseroan telah                         On July 12, 2017, the Company established
           membentuk dua entitas anak yaitu SPH dan                           two subsidiaries, SPH and SPI which
           SPI yang berdomisili di Singapura. Pendirian                       domiciles in Singapore. The establishment of
           entitas anak tersebut sehubungan dengan                            the subsidiaries is related with the issuance of
           penerbitan efek utang di Bursa Efek Singapura.                     debt securities in the Singapore Stock
           Perseroan memiliki 100% saham pada kedua                           Exchange. The Company has 100%
           Perseroan tersebut. Pada Januari 2023, SPH                         ownership interest in both companies. In
           telah melunasi seluruh efek utang. (Catatan 24)                    January, 2023, SPH has fully settled the debt
                                                                              securities. (Note 24)


2.   IKHTISAR    INFORMASI                 KEBIJAKAN              2.   SUMMARY OF MATERIAL                      ACCOUNTING
     AKUNTANSI YANG MATERIAL                                           POLICIES INFORMATION
     Laporan keuangan konsolidasian telah disusun dan                  The consolidated financial statements have been
     disajikan sesuai dengan Standar Akuntansi                         prepared and presented in accordance with
     Keuangan di Indonesia (“SAK”), yang mencakup                      Indonesian Financial Accounting Standards (“SAK”),
     Pernyataan Standar Akuntansi Keuangan (“PSAK”)                    which comprise the Statements of Financial
     dan Interpretasi Standar Akuntansi Keuangan                       Accounting Standards (“PSAK”) and Interpret to
     (“ISAK”) yang dikeluarkan oleh Dewan Standar                      Financial Acccounting Standards (“ISAK”) issued by
     Akuntansi Keuangan Ikatan Akuntan Indonesia,                      the Financial Accounting Standards Board of the
     serta Peraturan Badan Pengawas Pasar Modal dan                    Indonesian Institute of Accountants, and Regulation
     Lembaga Keuangan (“BAPEPAM-LK”) No. VIII.G.7                      of Capital Market and Financial Institution
     Lampiran     Keputusan   Ketua     BAPEPAM-LK                     Supervisory Agency (“BAPEPAM-LK”) No. VIII.G.7
     No. KEP-347/BL/2012 tanggal 25 Juni 2012                          Attachment of Chairman of BAPEPAM-LK’s decision
     mengenai Penyajian dan Pengungkapan Laporan                       No. KEP-347/BL/2012 dated June 25, 2012
     Keuangan Emiten atau Perseroan Publik.                            regarding Presentation and Disclosure of the
                                                                       Financial Statements of Issuers or Public Company.
     Laporan keuangan konsolidasian telah disusun                      The consolidated financial statements are prepared
     sesuai dengan PSAK No. 1 “Penyajian Laporan                       in accordance with PSAK No. 1 “Presentation of
     Keuangan”.                                                        Financial Statements”.
     Kebijakan akuntansi signifikan yang diterapkan                    The significant accounting policies that were applied
     secara konsisten dalam penyajian laporan                          consistently in the preparation of the consolidated
     keuangan konsolidasian untuk tahun yang berakhir                  financial statements for the years ended
     pada tanggal 31 Desember 2023, 2022, dan 2021
     adalah sebagai berikut:                                           December 31, 2023, 2022, and 2021 are as follows:

     a.    Dasar penyusunan         laporan    keuangan                a.    Basis of preparation          of    consolidated
           konsolidasian                                                     financial statements

           Laporan keuangan konsolidasian disusun                            The consolidated financial statements have
           berdasarkan konsep akrual, kecuali untuk                          been prepared on the accrual basis, except for
           laporan   arus   kas konsolidasian,      dan                      the consolidated statement of cash flows, and
           menggunakan konsep biaya historis, kecuali                        using the historical cost concept of accounting,
           seperti yang disebutkan dalam catatan atas                        except as disclosed in the relevant notes to the
           laporan keuangan konsolidasian yang relevan.                      consolidated financial statements.




                                                             19




                                                                                                                                                     307
                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                Laporan Tahunan 2023 Annual Report
Page 308
                                                                                           The original consolidated financial statements included herein
                                                                                                                         are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                   financial statements
                                      Tanggal 31 Desember 2023                                            As of December 31, 2023
                                     dan untuk tahun yang berakhir                                        and for year then ended
                                         pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR    INFORMASI       KEBIJAKAN                         2.   SUMMARY OF MATERIAL ACCOUNTING
                            AKUNTANSI YANG MATERIAL (lanjutan)                                 POLICIES INFORMATION (continued)

                            a.    Dasar penyusunan laporan             keuangan                a.    Basis of preparation of consolidated
                                  konsolidasian (lanjutan)                                           financial statements (continued)

                                  Laporan arus kas konsolidasian yang disajikan                      The consolidated statements of cash flows,
                                  dengan menggunakan metode langsung,                                which have been prepared using the direct
                                  menyajikan penerimaan, dan pengeluaran kas                         method, present receipts, and disbursements of
                                  dan setara kas yang diklasifikasikan sebagai                       cash and cash equivalents classified into
                                  aktivitas operasi, investasi, dan pendanaan.                       operating, investing, and financing activities.

                                  Perseroan memilih untuk menyajikan laporan                         The Company has elected to present the
                                  laba rugi dan penghasilan komprehensif lainnya                     consolidated of profit or loss and other
                                  dalam satu laporan.                                                comprehensive income in one linked statement.

                                  Mata uang penyajian yang digunakan dalam                           The presentation currency used in the
                                  laporan keuangan konsolidasian adalah Rupiah                       consolidated financial statements is Rupiah
                                  yang merupakan mata uang fungsional                                which is the Company’s and its subsidiaries
                                  Perseroan dan entitas anaknya.                                     functional currency.

                                  Seluruh angka dalam laporan keuangan                               All figures in the consolidated financial
                                  konsolidasian ini, kecuali dinyatakan lain,                        statements are rounded to, and stated in,
                                  dinyatakan dalam dan dibulatkan menjadi                            thousands of Rupiah, unless otherwise stated.
                                  ribuan Rupiah.

                            b.    Perubahan Kebijakan Akuntansi                                b.    Changes of Accounting Principles

                                  Pada tanggal 1 Januari 2023, Kelompok Usaha                        On January 1, 2023, the Group adopted new
                                  menerapkan pernyataan standar akuntansi                            and revised statements of financial accounting
                                  keuangan dan interpretasi standar akuntansi                        standards and interpretations of statements
                                  keuangan baru dan revisi yang efektif sejak                        of financial accounting standards that are
                                  tanggal    tersebut.  Perubahan    kebijakan                       mandatory for application from that date.
                                  akuntansi Kelompok Usaha telah dibuat seperti                      Changes to the Group’s accounting policies
                                  yang disyaratkan, sesuai dengan ketentuan                          have been made as required, in accordance
                                  transisi dalam masing-masing standar dan                           with the transitional      provisions in the
                                  interpretasi.                                                      respective standards and interpretations.

                                  Penerapan standar yang baru dan direvisi tidak                     The adoption of the following new and revised
                                  menghasilkan perubahan besar terhadap                              standard did not result in substantial changes
                                  kebijakan akuntansi Kelompok Usaha dan tidak                       to the Group’s accounting policies and had no
                                  memiliki dampak material pada jumlah yang                          material effect on the amounts reported for the
                                  dilaporkan untuk tahun keuangan saat ini atau                      current of prior financial years:
                                  sebelumnya:

                                        Amendemen PSAK 1: Penyajian Laporan                            Amendments to PSAK 1: Classification of
                                         Keuangan tentang Klasifikasi Liabilitas                         Liabilities as Current or Non-current,
                                         sebagai Jangka Pendek atau Jangka                               effective January 1, 2023, and earlier
                                         Panjang efektif 1 Januari 2023, dan                             application is permitted.
                                         penerapan lebih awal diizinkan.
                                        Amendemen PSAK 1: Penyajian Laporan                            Amendments to PSAK 1: Presentation of
                                         Keuangan tentang Penyajian Kebijakan                            financial statement - Disclosure of
                                         Akuntansi.                                                      accounting policies.
                                        Amendemen       PSAK      25:   Kebijakan                      Amendments to PSAK 25: Accounting
                                         Akuntansi, Perubahan Estimasi Akuntansi,                        Policies,  Changes    in Accounting
                                         dan Kesalahan” - definisi estimasi                              Estimates and Errors - Definition of
                                         akuntansi.                                                      Accounting Estimates.



                                                                                     20




308 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 309
                                                                   The original consolidated financial statements included herein
                                                                                                 are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                   financial statements
               Tanggal 31 Desember 2023                                            As of December 31, 2023
              dan untuk tahun yang berakhir                                        and for year then ended
                  pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                        2.    SUMMARY OF MATERIAL ACCOUNTING
     YANG MATERIAL (lanjutan)                                            POLICIES INFORMATION (continued)

     b.   Perubahan Kebijakan Akuntansi (lanjutan)                      b.    Changes     of       Accounting         Principles
                                                                              (continued)

           Penerapan standar yang baru dan direvisi tidak                     The adoption of the following new and revised
           menghasilkan perubahan besar terhadap                              standard did not result in substantial changes to
           kebijakan akuntansi Kelompok Usaha dan tidak                       the Group’s accounting policies and had no
           memiliki dampak material pada jumlah yang                          material effect on the amounts reported for the
           dilaporkan untuk tahun keuangan saat ini atau                      current of prior financial years: (continued)
           sebelumnya: (lanjutan)

                Amendemen PSAK 46: Pajak Penghasilan                            Amendments to PSAK 46: Income Taxes -
                 tentang Pajak Tangguhan terkait Aset dan                         Deferred Tax related to Assets and
                 Liabilitas yang timbul dari Transaksi                            Liabilities  arising  from    a Single
                 Tunggal.                                                         Transaction.
                Amendemen PSAK 16: Aset Tetap tentang                           Amendments to PSAK 16: Fixed Assets -
                 hasil     sebelum  penggunaan      yang                          Proceeds before Intended Use.
                 diintensikan.

     c.    Prinsip-prinsip konsolidasi                                  c. Basis of consolidation

              Entitas anak adalah suatu entitas dimana                        Subsidiaries are entities over which the Group
              Kelompok Usaha memiliki pengendalian.                           has control. The group controls an entity when
              Kelompok Usaha mengendalikan entitas lain                       the Group is exposed or has rights to variable
              ketika Kelompok Usaha terekspos atau                            returns from its involvement with the entity and
              memiliki hak atas imbal hasil variabel dan                      has the ability to affect those returns through its
              keterlibatannya dengan entitas dan memiliki                     power over the entity. The purchase method of
              kemampuan untuk mempengaruhi imbal hasil                        accounting is used to account for the acquisition
              tersebut melalui kekuasaannya atas entitas.                     of subsidiaries by the Group. The cost includes
              Metode akuisisi digunakan untuk mencatat                        the fair value of any contingent consideration at
              akuisisi entitas anak oleh Kelompok Usaha.                      acquisition date.
              Biaya perolehan termasuk nilai wajar imbalan
              kontinjensi pada tanggal akuisisi.
              Perubahan dalam bagian kepemilikan entitas                      The changes in parent’s ownership interest in
              induk pada entitas anak yang tidak                              subsidiary that do not result in the loss of control
              mengakibatkan      hilangnya   pengendalian                     are accounted for as equity transactions. When
              dicatat sebagai transaksi ekuitas. Ketika                       control over a subsidiary is lost, any remaining
              pengendalian atas entitas anak hilang, bagian                   interest in the entity is remeasured at fair value
              kepemilikan yang tersisa di entitas tersebut                    and the resulting gains or losses is recognized
              diukur kembali pada nilai wajarnya dan                          in profit or loss.
              keuntungan atau kerugian yang dihasilkan
              diakui dalam laba rugi.
              Seluruh transaksi, saldo, keuntungan dan                        All   material   intercompany transactions,
              kerugian intra Kelompok Usaha yang belum                        balances, unrealized surpluses and deficits on
              direalisasi dan material telah dieliminasi.                     transactions between Group companies are
                                                                              eliminated.
              Setiap akhir periode pelaporan, Kelompok                        At the end of each reporting period, the Group
              Usaha melakukan penelaahan ketika terdapat                      assesses when there is objective evidence that
              bukti objektif bahwa investasi pada ventura                     an investment in joint ventures and associates
              bersama dan entitas asosiasi mengalami                          is impaired.
              penurunan nilai.




                                                              21




                                                                                                                                                      309
                                                                                                           PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                 Laporan Tahunan 2023 Annual Report
Page 310
                                                                                          The original consolidated financial statements included herein
                                                                                                                        are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                financial statements
                                      Tanggal 31 Desember 2023                                         As of December 31, 2023
                                     dan untuk tahun yang berakhir                                     and for year then ended
                                         pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                         2.   SUMMARY OF MATERIAL ACCOUNTING
                           YANG MATERIAL (lanjutan)                                            POLICIES INFORMATION (continued)

                            c.    Prinsip-prinsip konsolidasi (lanjutan)                       c. Basis of consolidation (continued)

                                  Kepentingan       non-pengendali     (“KNP”)                    Non-controlling interests (“NCI”) represent the
                                  merupakan proporsi atas hasil usaha dan aset                    proportion of the results and net assets of
                                  neto entitas anak yang tidak diatribusikan                      subsidiaries not attributable to the owners of the
                                  pada pemilik entitas induk.                                     parent entity.

                                  Kelompok Usaha mengakui kepentingan non-                        The Group recognizes any non-controlling
                                  pengendali pada pihak yang diakuisisi                           interests in the acquiree at the non-controlling
                                  sebesar bagian proporsional kepentingan                         interest’s proportionate share of acquiree’s net
                                  non-pengendali atas aset neto pihak yang                        assets. Non-controlling interest is reported as
                                  diakuisisi.   Kepentingan    non-pengendali                     equity in the consolidated statement of financial
                                  disajikan di ekuitas dalam laporan posisi                       position, separate from the owners of the
                                  keuangan konsolidasian, terpisah dari ekuitas                   parent’s entity equity.
                                  pemilik entitas induk.

                                  Hasil usaha entitas anak, dimasukkan atau                       The results of subsidiaries, are included in or
                                  dikeluarkan dari dalam laporan keuangan                         excluded from the consolidated financial
                                  konsolidasian masing-masing sejak tanggal                       statements from their effective dates of
                                  efektif akuisisi atau tanggal pelepasan.                        acquisition or disposal respectively.

                                  Kebijakan akuntansi yang digunakan dalam                        The accounting policies adopted in preparing
                                  penyusunan laporan keuangan konsolidasian                       the consolidated financial statements have
                                  ini telah diterapkan secara konsisten, kecuali                  been consistently applied, unless otherwise
                                  jika dinyatakan lain.                                           stated.

                                  Untuk tujuan konsolidasi, akun entitas anak                     For purposes of consolidation, the accounts of
                                  dalam mata uang selain Rupiah, dijabarkan ke                    subsidiary, which are denominated in
                                  dalam Rupiah dengan dasar sebagai berikut:                      currencies other than Rupiah, are translated
                                                                                                  into Rupiah on the following basis:

                                        Seluruh aset dan liabilitas dijabarkan ke                    All assets and liabilities are translated into
                                         dalam mata uang Rupiah dengan                                 Rupiah at the exchange rates prevailing on
                                         menggunakan kurs yang berlaku pada                            the consolidated statement of financial
                                         tanggal    laporan    posisi    keuangan                      position dates;
                                         konsolidasian;
                                        Modal saham dijabarkan ke dalam Rupiah                       Share capital are translated into Rupiah at
                                         dengan kurs yang mendekati nilai tukar                        exchange rates approximating historical
                                         historis;                                                     exchange rates;
                                        Penghasilan dan beban dijabarkan                             Income and expenses are translated using
                                         dengan menggunakan kurs rata-rata                             the weighted average exchange rates
                                         tertimbang sepanjang tahun;                                   during the year;
                                        Selisih yang timbul dari penjabaran akun                     The difference arising from the translation
                                         entitas anak tersebut disajikan sebagai                       of such subsidiaries’ accounts are
                                         “selisih kurs atas penjabaran laporan                         presented as a “foreign exchange
                                         keuangan” di bawah bagian ekuitas pada                        differences     on   financial    statement
                                         laporan posisi keuangan konsolidasian.                        translation” under the shareholders’ equity
                                                                                                       section in the consolidated statements of
                                                                                                       financial position.




                                                                                     22




310 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 311
                                                                The original consolidated financial statements included herein
                                                                                              are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                 PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                            AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                   Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                               financial statements
            Tanggal 31 Desember 2023                                        As of December 31, 2023
           dan untuk tahun yang berakhir                                    and for year then ended
               pada tanggal tersebut                                   (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                   unless otherwise stated)
              kecuali dinyatakan lain)


2.   IKHTISAR    INFORMASI       KEBIJAKAN                     2.   SUMMARY OF MATERIAL ACCOUNTING
     AKUNTANSI YANG MATERIAL (lanjutan)                             POLICIES INFORMATION (continued)

     d. Kombinasi bisnis                                            d. Business combinations

        Kombinasi bisnis dicatat menggunakan                            Business combinations are accounted for using
        metode akuisisi. Biaya perolehan suatu                          the acquisition method. The cost of an
        akuisisi diukur sebagai penjumlahan atas                        acquisition is measured as the sum of the
        imbalan yang dialihkan, yang diukur pada nilai                  consideration transferred, measured at fair
        wajar pada tanggal akuisisi, dan jumlah atas                    value at acquisition date, and amount of the NCI
        KNP di entitas yang diakuisisi. Biaya atas                      in entities acquired. Transaction costs that occur
        transaksi yang terjadi dibiayakan dan dicatat                   are directly expensed and are recorded as an
        sebagai beban pada tahun berjalan.                              expense in the current year.

        Ketika melakukan akuisisi atas sebuah bisnis,                   When the Group acquires a business, it
        Kelompok Usaha mengklasifikasikan dan                           assesses the financial assets and liabilities
        menentukan aset keuangan yang diperoleh                         assumed for appropriate classification and
        dan liabilitas keuangan yang diambil alih                       designation in accordance with the contractual
        berdasarkan pada persyaratan kontraktual,                       terms, economic circumstances and pertinent
        kondisi ekonomi dan kondisi terkait lain yang                   conditions as at the acquisition date. This
        ada pada tanggal akuisisi. Hal ini termasuk                     includes the separation of embedded
        pemisahan derivatif melekat dalam kontrak                       derivatives in host contracts by the acquiree.
        utama oleh pihak yang diakuisisi.

        Jika proses akuntansi awal untuk kombinasi                      When the initial accounting for a business
        bisnis belum selesai pada akhir periode                         combination is incomplete by the end of the
        pelaporan saat kombinasi terjadi, maka                          reporting period in which the combination
        Kelompok      Usaha     melaporkan      jumlah                  occurs, the Group report in the consolidated
        sementara untuk pos-pos yang proses                             financial statements provisional amounts for
        akuntansinya belum selesai dalam laporan                        the items for which the accounting is
        keuangan konsolidasian. Selama periode                          incomplete. During the measurement period,
        pengukuran, Kelompok Usaha menyesuaikan                         the Group shall retrospectively adjust the
        secara retrospektif jumlah sementara yang                       provisional amounts recognized at the
        diakui    pada     tanggal   akuisisi     untuk                 acquisition date to reflect new information
        mencerminkan informasi baru yang diperoleh                      obtained about facts and circumstances that
        tentang fakta dan keadaan yang ada pada                         existed as of the acquisition date and, if
        tanggal akuisisi dan, jika diketahui, telah                     known, would have affected the measurement
        berdampak pada pengukuran jumlah yang                           of the amounts recognized as of that date. The
        diakui pada tanggal tersebut. Periode                           measurement period ends as soon as the
        pengukuran      berakhir    segera     setelah                  Group receive the information about facts and
        Kelompok Usaha menerima informasi yang                          circumstances that existed as of the
        dicari tentang fakta dan keadaan yang ada                       acquisition date or learn that more information
        pada tanggal akuisisi atau mempelajari bahwa                    is not obtainable. However, the measurement
        informasi lebih tidak dapat diperoleh. Namun                    period shall not exceed one year from the
        demikian, periode pengukuran tidak boleh                        acquisition date.
        melebihi satu tahun dari tanggal akuisisi.

        Dalam suatu kombinasi bisnis yang dilakukan                     If the business combination is achieved in the
        secara     bertahap,   pihak     pengakuisisi                   stages, the acquirer remeasured the fair value
        mengukur kembali kepentingan ekuitas yang                       of equity interest that previously held by the
        dimiliki sebelumnya pada pihak yang                             acquiree at the acquisition date and
        diakuisisi pada nilai wajar pada tanggal                        recognized as gain or loss in the consolidated
        akuisisi dan mengakui keuntungan atau                           statement of profit or loss and other
        kerugian yang dihasilkan sebagai laba rugi                      comprehensive income.
        dalam laporan laba rugi dan penghasilan
        komprehensif lain konsolidasian.




                                                          23




                                                                                                                                                 311
                                                                                                      PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                            Laporan Tahunan 2023 Annual Report
Page 312
                                                                                             The original consolidated financial statements included herein
                                                                                                                           are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                  financial statements
                                      Tanggal 31 Desember 2023                                           As of December 31, 2023
                                     dan untuk tahun yang berakhir                                       and for year then ended
                                         pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                          2.   SUMMARY OF MATERIAL ACCOUNTING
                            YANG MATERIAL (lanjutan)                                             POLICIES INFORMATION (continued)

                            d.    Kombinasi bisnis (lanjutan)                                    d. Business combinations (continued)

                                  Pada tanggal akuisisi, goodwill awalnya diukur                     At the acquisition date, goodwill is initially
                                  pada harga perolehan yang merupakan selisih                        measured at cost being the excess of the
                                  lebih nilai agregat dari imbalan yang dialihkan                    aggregate of the consideration transferred and
                                  dan jumlah setiap KNP atas selisih jumlah dari                     the amount recognized for NCI over the net
                                  aset teridentifikasi yang diperoleh dan liabilitas                 identifiable assets acquired and liabilities
                                  yang diambil alih. Jika imbalan tersebut kurang                    assumed. If this consideration is lower than the
                                  dari nilai wajar aset neto Entitas Anak yang                       fair value of the net assets of the Subsidiary
                                  diakuisisi, selisih tersebut diakui dalam laba                     acquired, the difference is recognized in profit or
                                  rugi.                                                              loss.

                                  Jika goodwill telah dialokasikan pada suatu UPK                    Where goodwill forms part of a CGU and part of
                                  dan operasi tertentu dalam UPK tersebut                            the operations within that CGU is disposed of,
                                  dihentikan, maka goodwill yang diasosiasikan                       the goodwill associated with the operations
                                  dengan operasi yang dihentikan tersebut                            disposed of is included in the carrying amount of
                                  termasuk dalam jumlah tercatat operasi tersebut                    the operations when determining the gain or loss
                                  ketika menentukan keuntungan atau kerugian                         on disposal of the operations. Goodwill disposed
                                  dari penghentian operasi. Goodwill yang                            of in this circumstance is measured based on the
                                  dilepaskan tersebut disajikan berdasarkan nilai                    relative values of the operations disposed of and
                                  relatif operasi yang dihentikan dan porsi UPK                      the portion of the CGU retained.
                                  yang ditahan.

                                  Jika goodwill telah dialokasikan pada suatu                        Where goodwill forms part of a CGU and part of
                                  UPK dan operasi tertentu atas UPK tersebut                         the operation within that unit is disposed of, the
                                  dihentikan, maka goodwill yang diasosiasikan                       goodwill associated with the operation disposed
                                  dengan operasi yang dihentikan tersebut                            of is included in the carrying amount of the
                                  termasuk dalam jumlah tercatat operasi                             operation when determining the gain or loss on
                                  tersebut ketika menentukan keuntungan atau                         disposal of the operation. Goodwill disposed of
                                  kerugian dari pelepasan. Goodwill yang                             in this circumstance is measured based on the
                                  dilepaskan tersebut diukur berdasarkan nilai                       relative values of the operation disposed of and
                                  relatif operasi yang dihentikan dan porsi UPK                      the portion of the CGU retained.
                                  yang ditahan.

                            e.    Kombinasi bisnis entitas sepengendali                          e. Common control business combination

                                  Transaksi      kombinasi      bisnis     entitas                   Business combination transaction under
                                  sepengendali, berupa pengalihan bisnis dalam                       common control, in the form of transfer of
                                  rangka reorganisasi entitas-entitas yang berada                    business within the framework of reorganization
                                  dalam suatu Kelompok Usaha yang sama, bukan                        of entities under the same business group is not
                                  merupakan perubahan kepemilikan dalam arti                         a change of ownership in economic substance,
                                  substansi ekonomi, sehingga transaksi tersebut                     therefore it would not result in a gain or loss for
                                  tidak dapat menimbulkan laba atau rugi bagi                        the group as a whole or to the individual entity
                                  Kelompok Usaha secara keseluruhan ataupun                          within the same group, therefore the
                                  bagi entitas individual dalam Kelompok Usaha                       transactions are recorded using the pooling-of-
                                  tersebut, karenanya transaksi tersebut diakui                      interests method.
                                  pada jumlah tercatat berdasarkan metode
                                  penyatuan kepemilikan (pooling-of-interests).




                                                                                       24




312 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 313
                                                                    The original consolidated financial statements included herein
                                                                                                  are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                financial statements
               Tanggal 31 Desember 2023                                         As of December 31, 2023
              dan untuk tahun yang berakhir                                     and for year then ended
                  pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                          2. SUMMARY OF MATERIAL ACCOUNTING
     YANG MATERIAL (lanjutan)                                           POLICIES INFORMATION (continued)

     e.    Kombinasi     bisnis   entitas   sepengendali                e. Common control business combination
           (lanjutan)                                                      (continued)

           Dalam     menerapkan        metode     penyatuan                 In applying the pooling-of-interests method, the
           kepemilikan, komponen laporan keuangan                           components of the financial statements for the
           untuk periode dimana terjadi kombinasi bisnis                    period during which the business combination
           dan untuk periode komparatif sajian, disajikan                   occurred and for other periods presented for
           sedemikian rupa seolah-olah penggabungan                         comparison purposes, are presented in such a
           tersebut telah terjadi sejak awal periode entitas                manner as if the combination has already
           yang bergabung berada dalam sepengendalian.                      occurred since the beginning of the period in
                                                                            which the entities were under common control.

           Entitas yang melepas bisnis maupun yang                          The entity that disposed and received business
           menerima bisnis mencatat selisih antara                          records     the    difference   between    the
           imbalan yang diterima/dialihkan dan jumlah                       consideration received/transferred and the
           tercatat bisnis yang dilepas/jumlah tercatat dari                carrying     amount       of   the    disposed
           setiap transaksi kombinasi bisnis di ekuitas dan                 business/carrying amount of any business
           menyajikannya dalam akun “Tambahan Modal                         combination transaction in equity and
           Disetor”.                                                        presenting it in “Additional Paid-in Capital”
                                                                            account.

     f.    Transaksi dan saldo dalam mata uang asing                    f. Foreign currency transactions and balances

           Laporan keuangan konsolidasian Kelompok                          The Group’s consolidated financial statements
           Usaha disajikan dalam Rupiah, yang juga                          are presented in Rupiah, which is also the
           merupakan mata uang fungsional Perseroan.                        Company’s        functional currency.    Each
           Setiap entitas anak menentukan mata uang                         subsidiary determines its own functional
           fungsional dalam transaksi-transaksi yang                        currency and items included in the financial
           termasuk dalam laporan keuangan pada setiap                      statements of each entity are measured using
           entitas diukur dengan mata uang fungsional                       that functional currency.
           tersebut.

           Transaksi dalam mata uang asing dicatat dalam                    Transactions involving foreign currencies are
           Rupiah dengan menggunakan kurs yang                              recorded in Rupiah at the rates of exchange
           berlaku pada tanggal transaksi. Pada tanggal                     prevailing at the time the transactions are made.
           pelaporan keuangan, aset dan liabilitas                          At the financial reporting dates, monetary
           moneter dalam mata uang asing dijabarkan                         assets and liabilities denominated in foreign
           sesuai dengan rata-rata kurs jual dan beli yang                  currencies are adjusted to reflect the average of
           diterbitkan oleh Bank Indonesia pada tanggal                     the selling and buying rates of exchange
           transaksi perbankan terakhir untuk tahun yang                    prevailing at the last banking transaction date of
           bersangkutan, dan laba atau rugi kurs yang                       the year, as published by Bank Indonesia, and
           timbul, dikreditkan atau dibebankan pada                         any resulting gains or losses are credited or
           laporan laba rugi komprehensif konsolidasian                     charged to the current year consolidated
           tahun berjalan.                                                  statements of comprehensive income.

           Transaksi-transaksi non-moneter dalam mata                       Non-monetary items that are measured in
           uang asing yang diukur dengan metode biaya                       terms of historical cost in a foreign currency are
           historis dijabarkan menggunakan kurs pada                        translated using the exchange rates as at the
           tanggal terjadinya transaksi. Transaksi-                         dates of the initial transactions. Non-monetary
           transaksi non-moneter dalam mata uang asing                      items measured at fair value in a foreign
           yang diukur pada nilai wajar dijabarkan                          currency are translated using the exchange
           menggunakan kurs pada tanggal penentuan                          rates at the date when the fair value is
           nilai wajar tersebut.                                            determined.




                                                               25




                                                                                                                                                     313
                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                Laporan Tahunan 2023 Annual Report
Page 314
                                                                                            The original consolidated financial statements included herein
                                                                                                                          are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                  financial statements
                                      Tanggal 31 Desember 2023                                           As of December 31, 2023
                                     dan untuk tahun yang berakhir                                       and for year then ended
                                         pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                         2.    SUMMARY OF MATERIAL ACCOUNTING
                            YANG MATERIAL (lanjutan)                                             POLICIES INFORMATION (continued)
                            f.    Transaksi dan saldo dalam mata uang asing                      f. Foreign currency transactions and balances
                                  (lanjutan)                                                        (continued)

                                  Keuntungan dan kerugian dari selisih kurs yang                    Exchange gains and losses arising on foreign
                                  timbul dari transaksi dalam mata uang asing                       currency transactions and on the translation of
                                  dan penjabaran aset dan liabilitas moneter                        foreign currency monetary assets and liabilities
                                  dalam mata uang asing ke mata uang Rupiah                         into Rupiah are recognized in the current year
                                  dibebankan pada laba rugi tahun berjalan.                         profit or loss.

                                  Pada tanggal 31 Desember 2023, 2022, dan                           The     exchange       rates   used as of
                                  2021, nilai tukar yang digunakan adalah                            December 31, 2023, 2022, 2021 were as
                                  sebagai berikut (nilai penuh dalam Rupiah):                        follows (full amount in Rupiah):

                                                        31 Desember/          31 Desember/         31 Desember/
                                                        December 31, 2023   December 31, 2022    December 31, 2021

                                  Rupiah/1 Dolar AS               15.416                15.731             14.269                      Rupiah/1 US Dollar



                            g.    Instrumen Keuangan                                             g. Financial Instruments

                                  Aset Keuangan                                                      Financial Assets

                                  Kelompok Usaha mengklasifikasikan aset                             The Group classifies its financial assets into the
                                  keuangannya dalam kategori (a) aset                                following category: (a) financial assets
                                  keuangan yang diukur pada nilai wajar melalui                      measured at fair value through profit or loss, (b)
                                  laba rugi, (b) aset keuangan yang diukur pada                      financial assets measured at fair value through
                                  nilai wajar melalui pendapatan komprehensif                        other comprehensive income, and (c) financial
                                  lainnya, dan (c) aset keuangan yang diukur                         assets measured at amortised cost.
                                  pada biaya perolehan diamortisasi.


                                  Kelompok Usaha menggunakan 2 (dua) dasar                          The Group used 2 (two) methods to classify its
                                  untuk mengklasifikasikan aset keuangan yaitu                      financial assets, which based on the Group’s
                                  model bisnis Kelompok Usaha dalam                                 business model in managing the financial
                                  mengelola aset keuangan dan karakteristik                         assets, and the contractual cash flow of the
                                  arus kas kontraktual dari aset keuangan                           financial assets (SPPI).
                                  (SPPB).

                                  Agar aset keuangan diklasifikasikan dan                           In order for a financial asset to be classified and
                                  diukur pada biaya perolehan diamortisasi atau                     measured at amortized cost or FVOCI, it needs
                                  NWPKL, aset keuangan harus menghasilkan                           to give rise to cash flows that are SPPI on the
                                  arus kas yang semata dari SPPB dari jumlah                        principal amount outstanding. This assessment
                                  pokok terutang. Penilaian ini disebut sebagai                     is referred to as the SPPI test and is performed
                                  uji SPPB dan dilakukan pada tingkat                               at an instrument level.
                                  instrumen.

                                  Pengujian SPPB                                                    SPPI Test

                                  Sebagai langkah pertama dari proses                               As a first step of its classification process, the
                                  klasifikasi,  Kelompok   Usaha   menilai                          Group assesses the contractual terms of
                                  persyaratan kontraktual keuangan untuk                            financial to identify whether they meet the SPPI
                                  mengidentifikasi apakah mereka memenuhi                           test.
                                  pengujian SPPB.




                                                                                   26




314 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 315
                                                                  The original consolidated financial statements included herein
                                                                                                are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                           AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                  Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                              financial statements
               Tanggal 31 Desember 2023                                       As of December 31, 2023
              dan untuk tahun yang berakhir                                   and for year then ended
                  pada tanggal tersebut                                  (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                  unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                      2.   SUMMARY OF MATERIAL ACCOUNTING
     YANG MATERIAL (lanjutan)                                         POLICIES INFORMATION (continued)

     g.    Instrumen Keuangan (lanjutan)                               g. Financial Instruments (continued)

           Aset Keuangan (lanjutan)                                        Financial Assets (continued)

           Pengujian SPPB                                                  SPPI Test

           Nilai pokok untuk tujuan pengujian ini                          Principal for the purpose of this test is defined
           didefinisikan sebagai nilai wajar dari aset                     as the fair value of the financial asset at initial
           keuangan pada pengakuan awal dan dapat                          recognition and may change over the life of the
           berubah selama umur aset keuangan                               financial asset (for example, if there are
           (misalnya, jika ada pembayaran pokok atau                       repayments of principal or amortization of the
           amortisasi premi/diskon).                                       premium/discount).

           Sebagai langkah pertama dari proses                             As a first step of its classification process, the
           klasifikasi,  Kelompok   Usaha   menilai                        Group assesses the contractual terms of
           persyaratan kontraktual keuangan untuk                          financial to identify whether they meet the
           mengidentifikasi apakah mereka memenuhi                         SPPI test.
           pengujian SPPB.

           Nilai pokok untuk tujuan pengujian ini                          Principal for the purpose of this test is defined
           didefinisikan sebagai nilai wajar dari aset                     as the fair value of the financial asset at initial
           keuangan pada pengakuan awal dan dapat                          recognition and may change over the life of the
           berubah selama umur aset keuangan (misalnya,                    financial asset (for example, if there are
           jika ada pembayaran pokok atau amortisasi                       repayments of principal or amortization of the
           premi/diskon).                                                  premium/discount).

           Elemen bunga yang paling signifikan dalam                       The most significant elements of interest within
           perjanjian biasanya adalah pertimbangan atas                    a arrangement are typically the consideration
           nilai waktu dari uang dan risiko kredit. Untuk                  for the time value of money and credit risk. To
           membuat penilaian SPPB, Kelompok Usaha                          make the SPPI assessment, the Group applies
           menerapkan pertimbangan dan memperhatikan                       judgment and considers relevant factors such
           faktor-faktor yang relevan seperti mata uang                    as the currency in which the financial asset is
           dimana aset keuangan didenominasikan dan                        denominated, and the period for which the
           periode pada saat suku bunga ditetapkan.                        interest rate is set.

           Sebaliknya, persyaratan kontraktual yang                        In contrast, contractual terms that introduce a
           memberikan eksposur lebih dari de minimis                       more than de minimis exposure to risks or
           atas risiko atau volatilitas dalam arus kas                     volatility in the contractual cash flows that are
           kontraktual yang tidak terkait dengan dasar                     unrelated to a basic lending arrangement, do
           pengaturan pinjaman, tidak menimbulkan arus                     not give rise to contractual cash flows that are
           kas kontraktual SPPB atas jumlah saldo. Dalam                   solely payments of principal and interest on the
           kasus seperti itu, aset keuangan diharuskan                     amount outstanding. In such cases, the financial
           untuk diukur pada Fair Value through Profit                     asset is required to be measured as Fair Value
           Loss (FVPL).                                                    through Profit Loss (FVPL).




                                                            27




                                                                                                                                                   315
                                                                                                        PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                              Laporan Tahunan 2023 Annual Report
Page 316
                                                                                          The original consolidated financial statements included herein
                                                                                                                        are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                 financial statements
                                    Tanggal 31 Desember 2023                                          As of December 31, 2023
                                   dan untuk tahun yang berakhir                                      and for year then ended
                                       pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                      kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                       2. SUMMARY     OF  MATERIAL      ACCOUNTING
                            YANG MATERIAL (lanjutan)                                        POLICIES INFORMATION (continued)

                           g. Instrumen Keuangan (lanjutan)                                 g. Financial Instruments (continued)

                                 Aset Keuangan (lanjutan)                                       Financial Assets (continued)

                                  Penilaian model bisnis                                        Business model assessment

                                  Kelompok Usaha menentukan model bisnisnya                     The Group determines its business model at the
                                  berdasarkan tingkat yang paling mencerminkan                  level that best reflects how it manages groups of
                                  bagaimana Kelompok Usaha mengelola                            financial assets to achieve its business objective.
                                  kelompok atas keuangannya untuk mencapai
                                  tujuan bisnisnya.

                                  Model bisnis Kelompok Usaha tidak dinilai                     The Group’s business model is not assessed on an
                                  berdasarkan masing-masing instrumennya,                       instrument-by-instrument basis, but at a higher
                                  tetapi pada tingkat portofolio secara agregat                 level of aggregated portfolios and is based on
                                  yang lebih tinggi dan didasarkan pada faktor-                 observable factors such as:
                                  faktor yang dapat diamati seperti:
                                      Bagaimana kinerja model bisnis dan aset                       How the performance of the business model
                                       keuangan yang dimiliki dalam model bisnis                      and the financial assets held within that
                                       tersebut dievaluasi dan dilaporkan kepada                      business model are evaluated and reported
                                       personel manajemen kunci;                                      to the entity’s key management personnel;
                                      Risiko yang mempengaruhi kinerja model                        The risks that affect the performance of the
                                       bisnis (dan aset keuangan yang dimiliki                        business model (and the financial assets held
                                       dalam model bisnis tersebut) dan,                              within that business model) and, in particular
                                       khususnya, bagaimana cara risiko tersebut                      the way those risks are managed;
                                       dikelola;
                                      Bagaimana manajer bisnis dikompensasi                         How business managers are compensated
                                       (misalnya, apakah kompensasi didasarkan                        (for example, whether the compensation is
                                       pada nilai wajar dari aset yang dikelola                       based on the fair value of the assets managed
                                       atau pada arus kas kontraktual yang                            or on the contractual cash flows collected);
                                       tertagih);
                                      Frekuensi, nilai, dan waktu penjualan yang                    The expected frequency, value, and timing of
                                       diharapkan, juga merupakan aspek                               sales are also important aspects of the
                                       penting dari penilaian Kelompok Usaha.                         Group’s assessment.

                                  Penilaian model bisnis didasarkan pada                        The business model assessment is based on
                                  skenario yang diharapkan secara wajar tanpa                   reasonably expected scenarios without taking
                                  mempertimbangkan skenario “worst case” atau                   “worst case” or “stress case” scenarios into
                                  “stress case”. Jika arus kas setelah pengakuan                account. If cash flows after initial recognition are
                                  awal direalisasikan dengan cara yang berbeda                  realised in a way that is different from the Group’s
                                  dari yang awal diharapkan, Kelompok Usaha                     original expectations, the Group does not change
                                  tidak mengubah klasifikasi aset keuangan                      the classification of the remaining financial assets
                                  dimiliki yang tersisa dalam model bisnis                      held in that business model, but incorporates such
                                  tersebut, tetapi memasukkan informasi tersebut                information when assessing newly originated or
                                  dalam melakukan penilaian atas aset keuangan                  newly purchased financial assets going forward.
                                  yang baru atau yang baru dibeli selanjutnya.




                                                                                    28




316 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 317
                                                                          The original consolidated financial statements included herein
                                                                                                        are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                      financial statements
               Tanggal 31 Desember 2023                                               As of December 31, 2023
              dan untuk tahun yang berakhir                                           and for year then ended
                  pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                          2.     SUMMARY     OF  MATERIAL     ACCOUNTING
     YANG MATERIAL (lanjutan)                                               POLICIES INFORMATION (continued)

     g.    Instrumen Keuangan (lanjutan)                                    g. Financial Instruments (continued)

           Aset Keuangan (lanjutan)                                             Financial Assets (continued)

           Penilaian model bisnis (lanjutan)                                    Business model assessment (continued)

           Aset keuangan yang diukur pada biaya                                 Financial assets are measured at amortized cost
           perolehan diamortisasi jika aset keuangan                            if the financial asset is managed in a business
           dikelola dalam model bisnis yang bertujuan                           model aimed at owning a financial asset in order
           untuk memiliki aset keuangan dalam rangka                            to obtain a contractual cash flow and the
           mendapatkan arus kas kontraktual dan                                 contractual requirements of a financial asset that
           persyaratan kontraktual dari aset keuangan                           on a given date increases the cash flow solely
           yang pada tanggal tertentu meningkatkan arus                         from the principal and interest payments (solely
           kas yang semata dari pembayaran pokok dan                            payments of principal and interest) of the amount
           bunga (solely payments of principal and                              owed.
           interest) dari jumlah pokok terutang.

           Pada saat pengakuan awal, aset keuangan                              At initial recognition, the financial assets
           yang diukur pada biaya perolehan diamortisasi                        measured at amortized cost are recognized at
           diakui pada nilai wajarnya ditambah biaya                            the fair value plus the transaction fee and
           transaksi dan selanjutnya diukur pada biaya                          subsequently measured at amortized cost by
           perolehan diamortisasi dengan menggunakan                            using the effective interest rate.
           suku bunga efektif.

           Pendapatan bunga dari aset keuangan yang                              Interest income from financial assets measured
           diukur pada biaya perolehan diamortisasi                              at amortized cost is recorded in the consolidated
           dicatat dalam laporan laba rugi dan                                   statements of profit and loss and other
           penghasilan komprehensif lain konsolidasian                           comprehensive income and is recognized as
           dan diakui sebagai “pendapatan bunga”. Ketika                         "interest income". When a decline in value
           penurunan nilai terjadi, kerugian penurunan                           occurs, the impairment loss is recognized as a
           nilai diakui sebagai pengurang dari nilai tercatat                    deduction of the recorded value of the financial
           aset keuangan dan diakui didalam laporan                              asset and is acknowledged in the consolidated
           keuangan          konsolidasian          sebagai                      financial statements as "the establishment of a
           “pembentukan cadangan kerugian penurunan                              reserve impairment loss".
           nilai”.

           Metode Suku Bunga Efektif                                             Effective Interest Method

           Metode suku bunga efektif adalah metode yang                          The effective interest method is a method of
           digunakan untuk menghitung biaya perolehan                            calculating the amortised cost of a financial asset
           diamortisasi dari instrumen keuangan dan                              and of allocating interest income over the
           metode untuk mengalokasikan pendapatan                                relevant period. The effective interest rate is the
           bunga selama periode yang relevan. Suku                               rate that exactly discounts estimated future cash
           bunga efektif adalah suku bunga yang secara                           receipts (including all fees and points paid or
           tepat mendiskontokan estimasi penerimaan kas                          received that form an integral part of the effective
           di masa datang (mencakup seluruh komisi dan                           interest rate, transaction costs and other
           bentuk lain yang dibayarkan dan diterima yang                         premiums or discounts) through the expected life
           merupakan bagian yang tak terpisahkan dari                            of the financial instrument, or, where
           suku bunga efektif, biaya transaksi dan                               appropriate, a shorter period to the net carrying
           premium dan diskonto lainnya) selama                                  amount of financial assets on initial recognition.
           perkiraan umur instrumen keuangan, atau, jika
           lebih tepat, digunakan periode yang lebih
           singkat untuk memperoleh nilai tercatat bersih
           aset keuangan pada saat pengakuan awal.




                                                                29




                                                                                                                                                           317
                                                                                                                PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                      Laporan Tahunan 2023 Annual Report
Page 318
                                                                                               The original consolidated financial statements included herein
                                                                                                                             are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                 AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                        Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                    financial statements
                                      Tanggal 31 Desember 2023                                             As of December 31, 2023
                                     dan untuk tahun yang berakhir                                         and for year then ended
                                         pada tanggal tersebut                                        (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                        unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                        2.     SUMMARY     OF  MATERIAL     ACCOUNTING
                            YANG MATERIAL (lanjutan)                                             POLICIES INFORMATION (continued)

                            g.    Instrumen Keuangan (lanjutan)                                  g. Financial Instruments (continued)

                                  Aset Keuangan (lanjutan)                                           Financial Assets (continued)

                                  Metode Suku Bunga Efektif (lanjutan)                               Effective Interest Method (continued)

                                  Pendapatan diakui berdasarkan suku bunga                           Income is recognized on an effective interest
                                  efektif untuk instrumen keuangan selain dari aset                  basis for financial instruments other than those
                                  keuangan FVTPL.                                                    financial assets at FVTPL

                                  Penurunan Nilai Aset Keuangan                                       Impairment of Financial Assets

                                  Aset keuangan, selain aset keuangan FVTPL,                          Financial assets, other than those at FVTPL, are
                                  dievaluasi terhadap indikator penurunan nilai                       assessed for indicators of impairment at the end
                                  pada setiap akhir periode pelaporan. Aset                           of each reporting date. Financial assets are
                                  keuangan diturunkan nilainya bila terdapat bukti                    considered to be impaired when there is
                                  objektif, sebagai akibat dari satu atau lebih                       objective evidence that, as a result of one or
                                  peristiwa yang terjadi setelah pengakuan awal                       more events that occurred after the initial
                                  aset keuangan, dan peristiwa yang merugikan                         recognition of the financial asset, the estimated
                                  tersebut berdampak pada estimasi arus kas                           future cash flows of the investment have been
                                  masa depan atas aset keuangan yang dapat                            affected.
                                  diestimasi secara andal.

                                  Untuk kelompok aset keuangan tertentu, seperti                      For certain categories of financial asset, such as
                                  piutang, aset yang dinilai tidak akan diturunkan                    receivables, assets that are assessed not to be
                                  secara individual akan dievaluasi penurunan                         impaired individually are, in addition, assessed
                                  nilainya secara kolektif. Bukti objektif dari                       for impairment on a collective basis. Objective
                                  penurunan nilai portofolio piutang dapat                            evidence of impairment for a portfolio of
                                  termasuk pengalaman Kelompok Usaha atas                             receivables could include the Group’s past
                                  tertagihnya piutang di masa lalu, peningkatan                       experience of collecting payments, an increase
                                  keterlambatan penerimaan pembayaran piutang                         in the number of delayed payments in the
                                  dari rata-rata periode kredit, dan juga                             portfolio past the average credit period, as well
                                  pengamatan atas perubahan kondisi ekonomi                           as observable changes in national or local
                                  nasional atau lokal yang berkorelasi dengan                         economic conditions that correlate with default
                                  gagal bayar atas piutang.                                           on receivables.

                                  Untuk aset keuangan yang diukur pada biaya                          For financial assets carried at amortised cost,
                                  perolehan diamortisasi, jumlah kerugian                             the amount of the impairment loss is measured
                                  penurunan nilai merupakan selisih antara                            as the difference between the asset’s carrying
                                  jumlah tercatat aset keuangan dengan nilai kini                     amount and the present value of estimated
                                  dari estimasi arus kas masa depan yang                              future cash flows, discounted at the financial
                                  didiskontokan menggunakan suku bunga efektif                        asset’s original effective interest rate.
                                  awal dari aset keuangan.




                                                                                     30




318 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 319
                                                                       The original consolidated financial statements included herein
                                                                                                     are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                   financial statements
               Tanggal 31 Desember 2023                                            As of December 31, 2023
              dan untuk tahun yang berakhir                                        and for year then ended
                  pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                       2.     SUMMARY     OF   MATERIAL     ACCOUNTING
     YANG MATERIAL (lanjutan)                                            POLICIES INFORMATION (continued)

     g.    Instrumen Keuangan (lanjutan)                                 g. Financial Instruments (continued)

           Aset Keuangan (lanjutan)                                          Financial Assets (continued)

           Penurunan Nilai Aset Keuangan (lanjutan)                          Impairment of Financial Assets (continued)

           Untuk aset keuangan yang diukur pada biaya                        For financial assets carried at amortised cost,
           perolehan diamortisasi, jumlah kerugian                           the amount of the impairment loss is measured
           penurunan nilai merupakan selisih antara                          as the difference between the asset’s carrying
           jumlah tercatat aset keuangan dengan nilai kini                   amount and the present value of estimated
           dari estimasi arus kas masa depan yang                            future cash flows, discounted at the financial
           didiskontokan menggunakan suku bunga efektif                      asset’s original effective interest rate.
           awal dari aset keuangan.

           Jumlah tercatat aset keuangan tersebut                           The carrying amount of the financial asset is
           dikurangi dengan kerugian penurunan nilai                        reduced by the impairment loss directly for all
           secara langsung atas seluruh aset keuangan,                      financial assets with the exception of
           kecuali piutang yang jumlah tercatatnya                          receivables, where the carrying amount is
           dikurangi melalui penggunaan akun cadangan                       reduced through the use of an allowance
           piutang. Jika piutang tidak tertagih, piutang                    account. When a receivable is considered
           tersebut dihapuskan melalui akun cadangan                        uncollectible, it is written off against the
           piutang. Pemulihan kemudian dari jumlah yang                     allowance account. Subsequent recoveries of
           sebelumnya telah dihapuskan dikreditkan                          amounts previously written off are credited
           terhadap akun cadangan. Perubahan jumlah                         against the allowance account. Changes in the
           tercatat akun cadangan piutang diakui dalam                      carrying amount of the allowance account are
           laba rugi.                                                       recognized in profit or loss.

           Liabilitas Keuangan dan Instrumen Ekuitas                         Financial Liabilities and Equity Instruments

           Klasifikasi sebagai liabilitas atau ekuitas                       Classification as debt or equity

           Instrumen keuangan dan ekuitas yang                               Debt and equity instruments issued by the
           diterbitkan oleh Kelompok Usaha diklasifikasikan                  Group are classified as either financial liabilities
           sebagai liabilitas keuangan atau ekuitas sesuai                   or as equity in accordance with the substance of
           dengan substansi perjanjian kontraktual dan                       the contractual arrangements entered into and
           definisi liabilitas keuangan dan instrumen                        the definitions of a financial liability and an
           ekuitas.                                                          equity instrument.

           Pengakuan dan Pengukuran Awal                                     Initial Recognition and Measurement

           Liabilitas keuangan diklasifikasikan sebagai                       Financial liabilities are classified as financial
           liabilitas keuangan yang diukur pada nilai wajar                   liabilities at fair value through profit or loss or
           melalui laba rugi atau liabilitas keuangan pada                    financial liabilities at amortized cost. The Group
           biaya perolehan diamortisasi. Kelompok Usaha                       determines the classification of its financial
           menentukan klasifikasi liabilitas keuangan                         liabilities at initial recognition.
           mereka pada saat pengakuan awal.




                                                             31




                                                                                                                                                        319
                                                                                                             PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                   Laporan Tahunan 2023 Annual Report
Page 320
                                                                                             The original consolidated financial statements included herein
                                                                                                                           are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                  financial statements
                                      Tanggal 31 Desember 2023                                           As of December 31, 2023
                                     dan untuk tahun yang berakhir                                       and for year then ended
                                         pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                      2.     SUMMARY     OF  MATERIAL     ACCOUNTING
                            YANG MATERIAL (lanjutan)                                           POLICIES INFORMATION (continued)

                            g.    Instrumen Keuangan (lanjutan)                                g. Financial Instruments (continued)

                                  Liabilitas Keuangan dan Instrumen Ekuitas                        Financial Liabilities and Equity Instruments
                                  (lanjutan)                                                       (continued)

                                  Liabilitas keuangan                                              Financial liabilities

                                  Pengakuan dan Pengukuran Awal (lanjutan)                         Initial Recognition and Measurement (continued)

                                  Liabilitas keuangan awalnya diukur sebesar nilai                  Financial liabilities are initially measured at fair
                                  wajarnya. Biaya transaksi yang dapat                              value. Transaction costs that are directly
                                  diatribusikan secara langsung dengan perolehan                    attributable to the acquisition of financial
                                  liabilitas keuangan (selain liabilitas keuangan                   liabilities (other than financial liabilities at fair
                                  yang diukur pada nilai wajar melalui laba rugi)                   value through profit or loss) are added to or
                                  ditambahkan atau dikurangkan dari nilai wajar                     deducted from the fair value of the financial
                                  liabilitas keuangan, yang sesuai, pada                            liabilities, as appropriate, on initial recognition.
                                  pengakuan awal. Biaya transaksi yang dapat                        Transaction costs directly attributable to the
                                  diatribusikan secara langsung dengan perolehan                    acquisition of financial liabilities at fair value
                                  liabilitas keuangan yang diukur pada nilai wajar                  through profit or loss are recognized immediately
                                  melalui laba rugi langsung diakui dalam laba                      in profit or loss.
                                  rugi.

                                  Liabilitas keuangan Kelompok Usaha terdiri dari                  The Group’s financial liabilities consist of short-
                                  utang bank jangka pendek, utang usaha, utang                     term bank loans, trade payables, other payables,
                                  lain-lain, beban akrual, liabilitas imbalan kerja                accrued expenses, short-term employee benefits
                                  karyawan jangka pendek, utang bank jangka                        liabilities, long-term bank loans, finance lease
                                  panjang, utang sewa pembiayaan, dan utang                        payables, and bond payables classified as
                                  obligasi diklasifikasikan sebagai liabilitas                     financial liabilities at amortized cost. The Group
                                  keuangan       yang   diukur      dengan    biaya                has no financial liabilities at fair value through
                                  diamortisasi. Kelompok Usaha tidak memiliki                      profit or loss.
                                  liabilitas keuangan yang diukur pada nilai wajar
                                  melalui laba rugi.

                                  Pengukuran Selanjutnya                                            Subsequent Measurement

                                  Setelah pengakuan awal, liabilitas keuangan                       After initial recognition, interest-bearing financial
                                  yang dikenakan bunga diukur pada biaya                            liabilities are subsequently measured at
                                  perolehan diamortisasi dengan menggunakan                         amortized cost using the Effective Interest Rate
                                  metode Suku Bunga Efektif (SBE).                                  (EIR) method.

                                  Pada tanggal pelaporan, akrual beban bunga                        At the reporting dates, accrued interest expenses
                                  dicatat secara terpisah dari pokok pinjaman                       is recorded separately from the associated
                                  terkait dalam bagian liabilitas lancar. Keuntungan                borrowings within the current liabilities section.
                                  atau kerugian harus diakui dalam laba rugi ketika                 Gains and losses are recognized in profit or loss
                                  liabilitas tersebut dihentikan pengakuannya serta                 when the liabilities are derecognized as well as
                                  melalui proses amortisasi SBE.                                    through the EIR amortization process.

                                  Biaya perolehan diamortisasi dihitung dengan                      Amortized cost is calculated by taking into
                                  mempertimbangkan diskonto atau premium atas                       account any discount or premium on acquisition
                                  perolehan dan komisi atau biaya yang                              and fee or costs that are an integral part of the
                                  merupakan bagian tidak terpisahkan dari SBE.                      EIR. The EIR amortization is included in finance
                                  Amortisasi SBE dicatat sebagai beban                              expenses in profit or loss.
                                  pembiayaan dalam laba rugi.




                                                                                   32




320 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 321
                                                                          The original consolidated financial statements included herein
                                                                                                        are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                      financial statements
               Tanggal 31 Desember 2023                                               As of December 31, 2023
              dan untuk tahun yang berakhir                                           and for year then ended
                  pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                          2.     SUMMARY OF MATERIAL ACCOUNTING
     YANG MATERIAL (lanjutan)                                               POLICIES INFORMATION (continued)

     g.    Instrumen Keuangan (lanjutan)                                    g. Financial Instruments (continued)

           Liabilitas Keuangan (lanjutan)                                       Financial Liabilities (continued)

           Penghentian Pengakuan                                                Derecognition

           Suatu     liabilitas     keuangan     dihentikan                     A financial liability is derecognized when
           pengakuannya         ketika   kewajiban    yang                      the obligation under the liability is discharged or
           ditetapkan dalam kontrak dihentikan atau                             cancelled or has expired.
           dibatalkan atau kadaluarsa.

           Ketika liabilitas keuangan awal digantikan                           When an existing financial liability is replaced by
           dengan liabilitas keuangan lain dari pemberi                         another from the same lender on substantially
           pinjaman yang sama dengan ketentuan yang                             different terms, or the terms of an existing liability
           berbeda secara substansial, atau modifikasi                          are substantially modified, such an exchange or
           secara substansial atas liabilitas keuangan                          modification is treated as a derecognition of the
           yang saat ini ada, maka pertukaran atau                              original liability and the recognition of a new
           modifikasi      tersebut        dicatat   sebagai                    liability, and the difference in the respective
           penghapusan liabilitas keuangan awal dan                             carrying amounts is recognized in profit or loss.
           pengakuan liabilitas keuangan baru dan selisih
           antara nilai tercatat liabilitas keuangan tersebut
           diakui dalam laba rugi.

           Reklasifikasi Instrumen Keuangan                                     Reclassification of Financial Instruments

           Kelompok Usaha diperkenankan            untuk                        The Group is allowed to reclassify the financial
           melakukan reklasifikasi atas aset keuangan                           assets owned if the Group changes the business
           yang dimiliki jika Kelompok Usaha mengubah                           model for the management of financial assets
           model bisnis untuk pengelolaan aset keuangan                         and the Group is not allowed to reclassify the
           dan Kelompok Usaha tidak diperkenankan                               financial liabilities.
           untuk melakukan reklasifikasi atas liabilitas
           keuangan.

           Perubahan model bisnis sifatnya harus                                The changes in the business model should
           berdampak secara signifikan terhadap kegiatan                        significantly impact the Group's operational
           operasional      Kelompok      Usaha    seperti                      activities such as acquiring, releasing or ending
           memperoleh, melepaskan, atau mengakhiri                              a line of business. In addition, the Group needs
           suatu lini bisnis. Selain itu, Kelompok Usaha                        to prove the change to external parties.
           perlu membuktikan adanya perubahan tersebut
           kepada pihak eksternal.

           Kelompok Usaha akan mereklasifikasi seluruh                          The Group will classify all financial assets
           aset keuangan yang terkena dampak dari                               impacted by changes in the business model. The
           perubahan model bisnis. Perubahan tujuan                             changes of the Group’s business model must
           model bisnis Kelompok Usaha harus                                    have an impact before the reclassification date.
           berdampak sebelum tanggal reklasifikasi.

           Yang bukan merupakan perubahan model                                 The following are not considered as change in
           bisnis adalah: (a) Perubahan intensi berkaitan                       business model: (a) the change of intention
           dengan aset keuangan tertentu (bahkan dalam                          relates to certain financial assets (even in
           situasi perubahan signifikan dalam kondisi                           situations of significant changes in market
           pasar), (b) Hilangnya sementara pasar tertentu                       conditions), (b) temporary loss of certain markets
           untuk aset keuangan, dan (c) Pengalihan aset                         for financial assets, and (c) the transfer of
           keuangan antara bagian dari Kelompok Usaha                           financial assets between parts of the Group and
           dengan model bisnis berbeda.                                         different business models.



                                                                33




                                                                                                                                                           321
                                                                                                                PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                      Laporan Tahunan 2023 Annual Report
Page 322
                                                                                                  The original consolidated financial statements included herein
                                                                                                                                are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                         PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                    AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                           Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                       financial statements
                                      Tanggal 31 Desember 2023                                                As of December 31, 2023
                                     dan untuk tahun yang berakhir                                            and for year then ended
                                         pada tanggal tersebut                                           (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                           unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                           2.     SUMMARY OF MATERIAL ACCOUNTING
                            YANG MATERIAL (lanjutan)                                                POLICIES INFORMATION (continued)

                            g.    Instrumen Keuangan (lanjutan)                                     g. Financial Instruments (continued)

                                  Saling Hapus Instrumen Keuangan                                       Offsetting of Financial Instruments

                                  Aset keuangan dan liabilitas keuangan                                 Financial assets and financial liabilities are offset
                                  disalinghapuskan dan nilai netonya disajikan                          and the net amount presented in the statement
                                  dalam laporan posisi keuangan jika Kelompok                           of financial position when the Group has a legally
                                  Usaha memiliki hak yang dapat dipaksakan                              enforceable right to set off the recognized
                                  secara hukum untuk melakukan saling hapus                             amounts; and intends either to settle on a net
                                  atas jumlah yang telah diakui; dan berintensi                         basis, or to realise the asset and settle the
                                  untuk menyelesaikan secara neto atau untuk                            liability simultaneously. A right to set-off must be
                                  merealisasikan aset dan menyelesaikan                                 available today rather than being contingent on
                                  liabilitasnya secara simultan. Hak saling hapus                       a future event and must be exercisable by any of
                                  harus ada pada saat ini daripada bersifat                             the counterparties, both in the normal course of
                                  kontinjen atas terjadinya suatu peristiwa di                          business and in the event of default, insolvency,
                                  masa depan dan harus dieksekusi oleh pihak                            or bankruptcy.
                                  lawan, baik dalam situasi bisnis normal dan
                                  dalam peristiwa gagal bayar, peristiwa
                                  kepailitan, atau kebangkrutan.

                                  Pengukuran Nilai Wajar                                                Fair Value Measurement

                                  Kelompok Usaha mengukur pada pengakuan                                The Group initially measures financial
                                  awal instrumen keuangan pada nilai wajar, dan                         instruments at fair value, and assets and
                                  aset dan liabilitas yang diakuisisi pada                              liabilities of the acquirees upon business
                                  kombinasi bisnis. Kelompok Usaha juga                                 combinations. It also measures certain
                                  mengukur jumlah terpulihkan dari UPK tertentu                         recoverable amounts of the CGU using fair value
                                  berdasarkan nilai wajar dikurangi biaya                               less cost of disposal (“FVLCD”).
                                  pelepasan.

                                  Nilai wajar adalah harga yang akan diterima dari                      Fair value is the price that would be received to
                                  menjual suatu aset atau harga yang akan                               sell an asset or paid to transfer a liability in an
                                  dibayar untuk mengalihkan suatu liabilitas                            orderly transaction between market participants
                                  dalam transaksi teratur antara pelaku pasar                           at the measurement date. The fair value
                                  pada tanggal pengukuran. Pengukuran nilai                             measurement is based on the presumption that
                                  wajar mengasumsikan bahwa transaksi untuk                             the transaction to sell the asset or transfer the
                                  menjual aset atau mengalihkan liabilitas terjadi:                     liability takes place either:
                                  i. di pasar utama untuk aset atau liabilitas                          i. in the principal market for the asset or
                                      tersebut, atau                                                         liability, or
                                  ii. jika tidak terdapat pasar utama, di pasar                         ii. in the absence of a principal market, in the
                                      yang paling menguntungkan untuk aset atau                              most advantageous market for the asset or
                                      liabilitas tersebut.                                                   liability.

                                  Pasar utama atau pasar yang paling                                    The principal or the most advantageous market
                                  menguntungkan tersebut harus dapat diakses                            must be accessible to by the Group.
                                  oleh Kelompok Usaha.

                                  Nilai wajar dari aset atau liabilitas diukur dengan                   The fair value of an asset or a liability is
                                  menggunakan asumsi yang akan digunakan                                measured using the assumptions that market
                                  pelaku pasar ketika menentukan harga aset                             participants would use when pricing the asset or
                                  atau liabilitas tersebut, dengan asumsi bahwa                         liability, assuming that market participants act in
                                  pelaku pasar bertindak dalam kepentingan                              their economic best interest.
                                  ekonomi terbaiknya.




                                                                                        34




322 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 323
                                                                      The original consolidated financial statements included herein
                                                                                                    are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                 AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                        Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                    financial statements
               Tanggal 31 Desember 2023                                             As of December 31, 2023
              dan untuk tahun yang berakhir                                         and for year then ended
                  pada tanggal tersebut                                        (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                        unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                      2.     SUMMARY     OF  MATERIAL     ACCOUNTING
     YANG MATERIAL (lanjutan)                                           POLICIES INFORMATION (continued)

     h.    Kas dan setara kas                                            h.    Cash and cash equivalents

           Kas dan setara kas terdiri dari kas dan bank                        Cash and cash equivalents consist of cash on
           serta deposito berjangka dengan jatuh tempo                         hand and in banks, and short-term deposits
           kurang dari tiga (3) bulan dan tidak digunakan                      with maturities within three (3) months or less
           sebagai jaminan atas pinjaman dan tidak                             and not pledged as collateral and are not
           dibatasi penggunaannya. Untuk kepentingan                           restricted. For the purpose of the consolidated
           laporan arus kas konsolidasian, kas dan setara                      statements of cash flows, cash and cash
           kas terdiri dari kas dan bank dan deposito                          equivalents consist of cash on hand and in
           berjangka sebagaimana didefinisikan di atas.                        banks and short-term deposits as defined
                                                                               above.

           Kas yang dibatasi penggunaannya disajikan                           Restricted cash are presented separately from
           secara terpisah dari kas dan setara kas.                            cash and cash equivalents.

     i.    Persediaan                                                    i.    Inventories

           Persediaan diakui sebesar nilai yang lebih                          Inventories are stated at the lower of cost or net
           rendah antara biaya perolehan atau nilai                            realizable value. Cost is determined on the
           realisasi neto. Biaya perolehan persediaan                          average cost method and comprises all costs of
           ditentukan dengan menggunakan metode biaya                          purchase, costs of conversion and other costs
           rata-rata yang meliputi seluruh biaya-biaya                         incurred in bringing the inventory to its present
           yang terjadi untuk memperoleh persediaan                            location and condition. Net realizable value is
           tersebut sampai ke lokasi dan kondisinya saat                       the estimated selling price in the ordinary
           ini. Nilai realisasi neto persediaan adalah                         course of business, less estimated costs of
           estimasi harga jual dalam kegiatan usaha biasa                      completion and the estimated costs to sale.
           dikurangi estimasi biaya penyelesaian dan
           estimasi biaya untuk menjual.

     j.    Aset biologis                                                 j.    Biological assets

           Aset biologis terkait dengan hasil pertanian                        Biological assets relate to agricultural produce
           yang tumbuh pada tanaman produktif yang                             growing on bearer plants which is referred to as
           disebut sebagai Tandan Buah Segar ("TBS")                           Fresh Fruit Bunches (“FFB”) and are stated at
           dan dinyatakan dengan nilai wajar setelah                           fair value less costs to sell. Gains or losses
           dikurangi biaya untuk menjual. Keuntungan                           arising from the changes in fair value less
           atau kerugian yang timbul dari perubahan                            estimated costs to sell of FFB at each reporting
           dalam nilai wajar setelah dikurangi dengan                          date are recognized in profit or loss for the
           taksiran biaya untuk menjual TBS pada setiap                        period in which they arise.
           tanggal pelaporan diakui dalam laba rugi untuk
           periode saat terjadinya.

           Nilai wajar aset biologis diperkirakan dengan                       The fair value of biological assets is estimated
           mengacu       pada    jumlah    panen    yang                       by reference to the projected harvest quantities
           diproyeksikan dan harga pasar TBS pada                              and market price of FFB as at the reporting
           tanggal pelaporan, setelah dikurangi biaya                          date, net of transportation, harvesting costs and
           transportasi, panen dan perkiraan biaya untuk                       estimated cost to sell.
           menjual.




                                                            35




                                                                                                                                                       323
                                                                                                            PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                  Laporan Tahunan 2023 Annual Report
Page 324
                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                 financial statements
                                      Tanggal 31 Desember 2023                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                      and for year then ended
                                         pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                      2.   SUMMARY OF MATERIAL ACCOUNTING
                            YANG MATERIAL (lanjutan)                                         POLICIES INFORMATION (continued)

                            k.    Aset tetap dan tanaman produktif                           k.    Fixed assets and bearer plants

                                  Tanaman produktif                                                Bearer plants

                                  Tanaman produktif dikelompokkan menjadi                          Bearer plants are classified as immature
                                  tanaman belum menghasilkan dan tanaman                           plantations and mature plantations.
                                  menghasilkan.

                                  Tanaman belum menghasilkan                                       Immature plantations

                                  Seluruh biaya yang berhubungan dengan                            All costs relating to the development of the oil
                                  pengembangan perkebunan kelapa sawit milik                       palm plantations for the Company’s own
                                  Perseroan (perkebunan) termasuk alokasi                          operations (plantations) together with a portion
                                  biaya tidak langsung, yang meliputi biaya umum                   of indirect overheads, including general and
                                  dan administrasi untuk pengembangan                              administrative expenses and borrowing costs
                                  tanaman belum menghasilkan, serta biaya                          incurred in relation to loans used in financing for
                                  pinjaman sehubungan dengan pinjaman yang                         development of immature plantations are
                                  digunakan untuk membiayai pengembangan                           capitalized until commercial production is
                                  perkebunan dikapitalisasi sampai produksi                        achieved. These costs will be transferred to
                                  komersial telah dicapai. Biaya-biaya tersebut                    mature     plantations      starting    from the
                                  akan dipindahkan ke tanaman menghasilkan                         commencement of commercial production.
                                  sejak produksi komersial dimulai.

                                  Tanaman menghasilkan                                             Mature plantations

                                  Secara umum, tanaman kelapa sawit                                In general, an palm oil plantation takes about
                                  memerlukan jangka waktu sekitar 3 sampai 4                       3 to 4 years to reach maturity from the time
                                  tahun sejak penanaman bibit di area                              seedling is planted into the field. Actual time to
                                  perkebunan    untuk     menjadi    tanaman                       maturity is dependent upon vegetative growth
                                  menghasilkan. Jangka waktu untuk menjadi                         and is assessed by management.
                                  tanaman menghasilkan tergantung pada tingkat
                                  pertumbuhan    tanaman     dan    penilaian
                                  manajemen.

                                  Tanaman menghasilkan dicatat sebesar biaya                       Mature plantations are stated at cost and are
                                  perolehan dan diamortisasi selama dua puluh                      amortized over the twenty (20) years starting
                                  (20) tahun terhitung sejak produksi komersial                    from the commencement of commercial
                                  dimulai.                                                         production.

                                  Aset tetap                                                       Fixed assets

                                  Seluruh aset tetap awalnya diakui sebesar                        All fixed assets are initially recognized at cost,
                                  biaya perolehan, yang terdiri atas harga                         which comprises its purchase price and any
                                  perolehan dan biaya-biaya tambahan yang                          costs directly attributable in bringing the asset
                                  dapat diatribusikan langsung untuk membawa                       to the location and condition necessary for it to
                                  aset ke lokasi dan kondisi yang diinginkan                       be capable of operating in the manner intended
                                  supaya aset tersebut siap digunakan sesuai                       by management.
                                  dengan maksud manajemen.

                                  Setelah pengakuan awal, aset tetap, kecuali                      Subsequent to initial recognition, fixed assets,
                                  tanah, dinyatakan pada biaya perolehan                           except for land, are carried at cost less any
                                  dikurangi akumulasi penyusutan dan akumulasi                     subsequent accumulated depreciation and
                                  rugi penurunan nilai.                                            impairment losses.




                                                                                   36




324 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 325
                                                                    The original consolidated financial statements included herein
                                                                                                  are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                   financial statements
               Tanggal 31 Desember 2023                                            As of December 31, 2023
              dan untuk tahun yang berakhir                                        and for year then ended
                  pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                        2.   SUMMARY OF MATERIAL ACCOUNTING
     YANG MATERIAL (lanjutan)                                           POLICIES INFORMATION (continued)

     k.    Aset tetap dan tanaman produktif (lanjutan)                  k.    Fixed assets and bearer plants (continued)

           Aset tetap (lanjutan)                                              Fixed assets (continued)

           Biaya perolehan termasuk biaya penggantian                         Cost includes the cost of replacing part of the
           bagian aset tetap saat biaya tersebut terjadi,                     fixed assets when that cost is incurred, if the
           jika memenuhi kriteria pengakuan. Selanjutnya,                     recognition criteria are met. Likewise, when a
           jika dilakukan penggantian yang signifikan,                        major replacement is performed, its cost is
           biaya penggantian itu diakui ke dalam jumlah                       recognized in the carrying amount of the fixed
           tercatat aset tetap sebagai suatu penggantian                      assets as a replacement if the recognition
           jika memenuhi kriteria pengakuan. Semua                            criteria are satisfied. All other repairs and
           biaya pemeliharaan dan perbaikan yang tidak                        maintenance costs that do not meet the
           memenuhi kriteria pengakuan diakui dalam                           recognition criteria are recognized in the
           laporan laba rugi komprehensif konsolidasian.                      consolidated statement of comprehensive
                                                                              income.

           Tanah dicatat sebesar biaya perolehan dan                          Land is stated at cost and is not depreciated.
           tidak didepresiasi.

           Suatu    kelompok   aset   tetap   adalah                          A class of fixed assets is a grouping of asset of
           pengelompokan aset-aset yang memiliki sifat                        a similar nature and use in an entity’s
           dan kegunaan yang serupa dalam operasi                             operations.
           entitas.

           Penyusutan aset tetap dimulai pada saat aset                       Depreciation of a fixed asset starts when it is
           tersebut siap untuk digunakan sesuai maksud                        available for use and is computed using the
           penggunaannya       dan     dihitung dengan                        straight line method based on the estimated
           menggunakan metode garis lurus berdasarkan                         useful lives and depreciation rate of the assets
           estimasi umur manfaat ekonomi dan tarif                            as follows:
           depresiasi sebagai berikut:
                                             Estimasi umur
                                            manfaat (tahun)/
                                            Estimated useful            Tarif/
                                              lives (years)             Rate

           Bangunan                          10 - 20              5,00% - 10,00%                                   Buildings
           Prasarana                           10                     10,00%                                 Infrastructures
           Kendaraan dan alat berat             5                     20,00%                 Vehicles and heavy equipment
           Mesin dan peralatan                  8                     12,50%                     Machinery and equipment
           Perabotan dan perlengkapan kantor    5                     20,00%                          Furniture and fixtures

           Aset     dalam     penyelesaian   merupakan                        Construction in progress represents the
           akumulasi biaya bahan dan biaya relevan                            accumulated costs of materials and other
           lainnya sampai dengan tanggal dimana aset                          relevant costs up to the date when the asset is
           tersebut telah selesai dan siap untuk                              complete and ready for service. These costs
           digunakan. Biaya-biaya tersebut direklasifikasi                    are reclassified to the respective fixed asset
           ke aset tetap yang bersangkutan ketika aset                        accounts when the asset has been made ready
           tersebut telah siap dipakai.                                       for use.




                                                             37




                                                                                                                                                     325
                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                Laporan Tahunan 2023 Annual Report
Page 326
                                                                                           The original consolidated financial statements included herein
                                                                                                                         are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                   financial statements
                                      Tanggal 31 Desember 2023                                            As of December 31, 2023
                                     dan untuk tahun yang berakhir                                        and for year then ended
                                         pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                        2.   SUMMARY OF MATERIAL ACCOUNTING
                            YANG MATERIAL (lanjutan)                                           POLICIES INFORMATION (continued)

                            k.    Aset tetap dan tanaman produktif (lanjutan)                  k.    Fixed assets and bearer plants (continued)

                                  Aset tetap (lanjutan)                                              Fixed assets (continued)

                                  Aset tetap dihentikan pengakuannya pada saat                       An item of fixed assets is derecognized upon
                                  dilepaskan atau saat tidak ada manfaat                             disposal or when no future economic benefits
                                  ekonomis masa depan yang diharapkan dari                           are expected from its use or disposal. Any gain
                                  penggunaan atau pelepasannya. Keuntungan                           or loss arising on derecognition of the asset
                                  atau kerugian yang timbul dari penghentian                         (calculated as the difference between the net
                                  pengakuan aset (dihitung sebagai perbedaan                         disposal proceeds and the carrying amount of
                                  antara hasil neto pelepasan dan jumlah tercatat                    the asset) is included as profit or loss in the year
                                  dari aset) dimasukkan dalam laba rugi pada                         the asset is derecognized.
                                  tahun aset tersebut dihentikan pengakuannya.
                                  Pada setiap akhir tahun buku, nilai residu, umur                   The asset’s residual values, useful lives and
                                  manfaat dan metode penyusutan ditelaah                             methods of depreciation are reviewed, and
                                  kembali, dan jika sesuai dengan keadaan,                           adjusted prospectively if appropriate, at each
                                  disesuaikan secara prospektif.                                     financial year end.

                            l.    Aset tak berwujud                                            l.    Intangible assets
                                  Aset tak berwujud yang diperoleh secara                            Intangible assets acquired separately are
                                  terpisah diukur pada awalnya sebesar biaya                         measured initially at cost. Following initial
                                  perolehan. Setelah akuisisi awal, aset                             acquisition, intangible assets are measured at
                                  takberwujud diukur sebesar biaya perolehan                         cost less any accumulated amortization and
                                  dikurangi akumulasi amortisasi dan akumulasi                       accumulated impairment losses.
                                  penurunan nilai.
                                  Masa manfaat aset tak berwujud dinilai sebagai                     The useful lives of intangible assets are
                                  baik terbatas atau tidak terbatas.                                 assessed as either finite or indefinite.
                                  Aset tak berwujud dengan masa manfaat                              Intangible assets with finite useful lives are
                                  terbatas diamortisasi selama masa manfaat                          amortized over the estimated useful life and
                                  yang diperkirakan dan dinilai untuk penurunan                      assessed for impairment whenever there is an
                                  nilai apabila terdapat indikasi bahwa aset tak                     indication that the intangible asset may be
                                  berwujud mengalami penurunan nilai. Periode                        impaired. The amortization period and the
                                  amortisasi dan metode amortisasi ditelaah                          amortization method are reviewed at least at
                                  minimum setiap akhir tahun buku.                                   each financial year-end.
                                  Aset tak berwujud dengan masa manfaat tak                          Intangible assets with indefinite useful lives are
                                  terbatas tidak diamortisasi, tetapi diuji untuk                    not amortized, but are tested for impairment
                                  penurunan nilai setiap tahunnya baik secara                        annually either individually or at the cash
                                  individu maupun di tingkat unit penghasil kas.                     generating unit level. The assessment of
                                  Penilaian masa manfaat tak terbatas ditinjau                       indefinite life is reviewed annually to determine
                                  setiap tahun untuk menentukan apakah                               whether the indefinite life continues to be
                                  penilaian masa manfaat tak terbatas telah                          supportable. If not, the change in useful life from
                                  sesuai. Jika tidak, perubahan masa manfaat                         indefinite to finite is made on prospective basis.
                                  dari tak terbatas menjadi terbatas dibuat secara
                                  prospektif.

                                  Amortisasi lisensi perangkat lunak memiliki                        The amortization of software licenses for
                                  masa manfaat selama 5 tahun didasarkan pada                        5 years useful life to perpetuity are based on
                                  berbagai perjanjian kontrak pada pembelian                         various contractual agreements on the
                                  lisensi perangkat lunak tersebut, dan kontrak                      purchases of such software licenses, and their
                                  pemeliharaan tahunan mereka.                                       annual maintenance contracts.




                                                                                     38




326 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 327
                                                                       The original consolidated financial statements included herein
                                                                                                     are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                      financial statements
               Tanggal 31 Desember 2023                                               As of December 31, 2023
              dan untuk tahun yang berakhir                                           and for year then ended
                  pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                           2.   SUMMARY OF MATERIAL ACCOUNTING
     YANG MATERIAL (lanjutan)                                              POLICIES INFORMATION (continued)

     m. Biaya pinjaman                                                     m. Borrowing costs
           Biaya pinjaman yang dapat diatribusikan                               Borrowing costs that are directly attributable to
           langsung dengan perolehan, pembangunan,                               the acquisition, construction or production of a
           atau      pembuatan      aset     kualifikasian                       qualifying asset are capitalized as part of the
           dikapitalisasi sebagai bagian biaya perolehan                         cost of the related asset. Otherwise, borrowing
           aset tersebut. Biaya pinjaman lainnya diakui                          costs are recognized as expenses when
           sebagai beban pada saat terjadi. Biaya                                incurred. Borrowing costs consist of interests
           pinjaman terdiri dari biaya bunga dan biaya                           and other financing charges that the Group
           keuangan lain yang ditanggung Kelompok                                incurs in connection with the borrowing of
           Usaha sehubungan dengan peminjaman dana.                              funds.

           Kapitalisasi biaya pinjaman dimulai pada saat                         Capitalization of borrowing costs commences
           aktivitas      yang      diperlukan      untuk                        when the activities to prepare the qualifying
           mempersiapkan aset agar dapat digunakan                               asset for its intended use are in progress and
           sesuai dengan maksudnya sedang terjadi serta                          the expenditures for the qualifying assets and
           pengeluaran untuk aset kualifikasian dan biaya                        the borrowing costs have been incurred.
           pinjaman telah terjadi. Kapitalisasi biaya                            Capitalization of borrowing costs ceases when
           pinjamannya dihentikan pada saat selesainya                           substansially all the activities necessary to
           secara substansi seluruh aktivitas yang                               prepare the qualifying assets are substantially
           diperlukan     untuk    mempersiapkan     aset                        completed for their intended use.
           kualifikasian agar dapat digunakan sesuai
           dengan maksudnya.
     n.    Piutang plasma                                                  n.    Plasma receivables

           Piutang plasma merupakan biaya-biaya yang                             Plasma receivables represent cost to develop
           dikeluarkan untuk pengembangan perkebunan                             plasma area, in which these are temporarily
           plasma yang untuk sementara dibiayai sendiri                          funded by the Group while waiting for
           oleh Kelompok Usaha sementara menunggu                                realization of funding from bank.
           pendanaan dari bank terealisasi.

     o.    Penurunan nilai aset non-keuangan                               o.    Impairment of non-financial assets
           Pada setiap akhir periode pelaporan,                                  The Group assesses at each annual reporting
           Kelompok Usaha menilai apakah terdapat                                period whether there is an indication that an
           indikasi suatu aset mengalami penurunan nilai.                        asset may be impaired. If any such indication
           Jika terdapat indikasi tersebut atau pada saat                        exists, or when annual impairment testing for an
           pengujian tahunan atas penurunan nilai aset                           asset (i.e., an intangible asset with an indefinite
           tertentu (yaitu aset tak berwujud dengan umur                         useful life, an intangible asset not yet available
           manfaat tidak terbatas, aset tak berwujud yang                        for use, or goodwill acquired in a business
           belum dapat digunakan, atau goodwill yang                             combination) is required, the Group makes an
           diperoleh dalam suatu kombinasi bisnis)                               estimate of the asset’s recoverable amount.
           diperlukan, maka Kelompok Usaha membuat
           estimasi atas jumlah terpulihkan aset tersebut.
           Jumlah terpulihkan suatu aset adalah jumlah                           An asset’s recoverable amount is the higher of
           yang lebih tinggi antara nilai wajar dari aset atau                   the asset’s or Cash Generating Unit (“CGU”)’s
           Unit Penghasil Kas (“UPK”) tersebut dikurangi                         fair value less costs to sell and its value in use,
           biaya untuk menjual, dan nilai pakainya, dan                          and is determined for an individual asset, unless
           nilai tersebut ditentukan untuk aset individual,                      the asset does not generate cash inflows that
           kecuali aset tersebut tidak menghasilkan arus                         are largely independent of those from other
           kas masuk yang sebagian besar independen                              assets or groups of assets.
           dari aset lainnya atau kelompok aset lain.




                                                                 39




                                                                                                                                                        327
                                                                                                             PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                   Laporan Tahunan 2023 Annual Report
Page 328
                                                                                              The original consolidated financial statements included herein
                                                                                                                            are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                      financial statements
                                      Tanggal 31 Desember 2023                                               As of December 31, 2023
                                     dan untuk tahun yang berakhir                                           and for year then ended
                                         pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                           2.   SUMMARY OF MATERIAL ACCOUNTING
                            YANG MATERIAL (lanjutan)                                              POLICIES INFORMATION (continued)

                            o.    Penurunan       nilai    aset     non-keuangan                  o.    Impairment       of     non-financial       assets
                                  (lanjutan)                                                            (continued)

                                  Jika nilai tercatat aset lebih besar dari nilai                       Where the carrying amount of an asset exceeds
                                  terpulihkannya, maka aset tersebut dianggap                           its recoverable amount, the asset is considered
                                  mengalami penurunan nilai dan nilai tercatat                          impaired and is written down to its recoverable
                                  aset tersebut diturunkan menjadi sebesar nilai                        amount. Impairment losses of continuing
                                  terpulihkan. Kerugian penurunan nilai dari                            operations, if any, are recognized in profit or
                                  operasi yang berkelanjutan, jika ada, diakui                          loss in those expense categories consistent
                                  dalam laba rugi sesuai dengan kategori biaya                          with the function of the impaired asset. In
                                  yang konsisten dengan fungsi dari aset yang                           assessing the value in use, the estimated net
                                  diturunkan nilainya. Dalam menghitung nilai                           future cash flows are discounted to their
                                  pakai, estimasi arus kas masa depan neto                              present value using a pretax discount rate that
                                  didiskontokan      ke    nilai   kini    dengan                       reflects current market assessments of the time
                                  menggunakan tingkat diskonto sebelum pajak                            value of money and the risks specific to the
                                  yang menggambarkan penilaian pasar kini dari                          asset.
                                  nilai waktu uang dan risiko spesifik atas aset.

                                  Untuk aset selain goodwill, penilaian dilakukan                       For assets excluding goodwill, an assessment
                                  pada akhir setiap tanggal pelaporan apakah                            is made at each reporting dates as to whether
                                  terdapat indikasi bahwa rugi penurunan nilai                          there is any indication that previously
                                  yang telah diakui dalam periode sebelumnya                            recognized impairment losses may no longer
                                  mungkin tidak ada lagi atau mungkin telah                             exist or may have decreased. If such indication
                                  menurun. Jika indikasi dimaksud ditemukan,                            exists, the recoverable amount is estimated. A
                                  maka entitas mengestimasi jumlah terpulihkan                          previously recognized impairment loss for an
                                  aset tersebut. Kerugian penurunan nilai yang                          asset other than goodwill is reversed only if
                                  telah diakui dalam periode sebelumnya untuk                           there has been a change in the assumptions
                                  aset selain goodwill dibalik hanya jika terdapat                      used to determine the asset’s recoverable
                                  perubahan asumsi-asumsi yang digunakan                                amount since the last impairment loss was
                                  untuk menentukan jumlah terpulihkan aset                              recognized. If that is the case, the carrying
                                  tersebut sejak rugi penurunan nilai terakhir                          amount of the asset is increased to its
                                  diakui. Dalam hal ini, jumlah tercatat aset                           recoverable amount.
                                  dinaikkan ke jumlah terpulihkannya.

                                  Pembalikan tersebut dibatasi sehingga jumlah                          The reversal is limited so that the carrying
                                  tercatat   aset    tidak   melebihi   jumlah                          amount of the assets does not exceed its
                                  terpulihkannya maupun jumlah tercatat, neto                           recoverable amount, nor exceed the carrying
                                  setelah penyusutan, seandainya tidak ada rugi                         amount that would have been determined, net
                                  penurunan nilai yang telah diakui untuk aset                          of depreciation, had no impairment loss been
                                  tersebut pada tahun sebelumnya.                                       recognized for the asset in prior year.

                                  Pembalikan rugi penurunan nilai diakui dalam                          Reversal of an impairment loss is recognized in
                                  laba rugi. Setelah pembalikan tersebut,                               profit or loss. After such a reversal, the
                                  penyusutan aset tersebut disesuaikan di                               depreciation charge on the said asset is
                                  periode mendatang untuk mengalokasikan                                adjusted in future periods to allocate the asset’s
                                  jumlah tercatat aset yang direvisi, dikurangi nilai                   revised carrying amount, less any residual
                                  sisanya, dengan dasar yang sistematis selama                          value, on a systematic basis over its remaining
                                  sisa umur manfaatnya.                                                 useful life.

                            p.    Sewa                                                            p.    Lease

                                  Kelompok Usaha menerapkan PSAK No. 73                                 The Group has adopted PSAK No. 73, which
                                  yang mensyaratkan pengakuan liabilitas sewa                           sets the requirement for recognition of lease
                                  sehubungan dengan sewa yang sebelumnya                                liabilities in relation to leases which had
                                  diklasifikasikan sebagai 'sewa operasi'.                              previously been classified as 'operating leases'.




                                                                                        40




328 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 329
                                                                   The original consolidated financial statements included herein
                                                                                                 are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                 PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                            AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                   Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                               financial statements
               Tanggal 31 Desember 2023                                        As of December 31, 2023
              dan untuk tahun yang berakhir                                    and for year then ended
                  pada tanggal tersebut                                   (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                   unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                       2.   SUMMARY OF MATERIAL ACCOUNTING
     YANG MATERIAL (lanjutan)                                          POLICIES INFORMATION (continued)

     p.    Sewa (lanjutan)                                             p. Lease (continued)

           Pada tanggal permulaan kontrak, Kelompok                       At the inception of a contract, the Group
           Usaha menilai apakah kontrak merupakan, atau                   assesses whether the contract is, or contains, a
           mengandung, sewa. Suatu kontrak merupakan                      lease. A contract is or contains a lease if the
           atau mengandung sewa jika kontrak tersebut                     contract conveys the right to control the use of an
           memberikan hak untuk          mengendalikan                    identified asset for a period of time in exchange
           penggunaan aset identifikasian selama suatu                    for consideration.
           jangka waktu untuk dipertukarkan dengan
           imbalan.

           Untuk menilai apakah kontrak memberikan hak                    To assess whether a contract conveys the right
           untuk mengendalikan penggunaan aset                            to control the use of an identified asset, the Group
           identifikasian,         Kelompok        Usaha                  considers whether:
           mempertimbangkan apakah:
           - Kelompok Usaha memiliki hak untuk                            -   The Group has the right to obtain
               mendapatkan secara subtansial seluruh                          substantially all the economic benefits from
               manfaat ekonomi dari penggunaan aset                           use of the asset throughout the period of
               identifikasian; dan                                            use; and
           - Kelompok Usaha memiliki hak untuk                            -   The Group has the right to direct the use of
               mengarahkan          penggunaan       aset                     the asset. The Group has this right when it
               identifikasian. Kelompok Usaha memiliki                        has the decision-making rights that are the
               hak ini ketika Kelompok Usaha memiliki hak                     most relevant to changing the determination
               untuk pengambilan keputusan yang relevan                       of how and for what purpose the asset is
               tentang penentuan bagaimana dan untuk                          used and:
               tujuan apa aset digunakan telah ditentukan
               sebelumnya dan:
               1. Kelompok Usaha memiliki hak untuk                           1. The Group has the right to operate the
                    mengoperasikan aset; atau                                    asset; or
               2. Kelompok Usaha telah mendesain aset                         2. The Group has designed the asset in a
                    dengan cara menetapkan sebelumnya                            way that predetermines how and for what
                    bagaimana dan untuk tujuan apa aset                          purpose it will be used.
                    akan digunakan selama periode
                    penggunaan.

           Pada tanggal insepsi atau pada penilaian                      At the inception date or on reassessment of a
           kembali atas kontrak yang mengandung                          contract that contains a lease component, the
           sebuah komponen sewa, Kelompok Usaha                          Group allocates the consideration in the contract
           mengalokasikan imbalan dalam kontrak ke                       to each lease component on the basis of the
           masing-masing komponen sewa berdasarkan                       relative stand-alone prices and the aggregate
           harga tersendiri relatif dari komponen sewa dan               stand-alone price of the non-lease components.
           harga tersendiri agregat dari komponen
           nonsewa.




                                                             41




                                                                                                                                                    329
                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 330
                                                                                               The original consolidated financial statements included herein
                                                                                                                             are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                 AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                        Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                    financial statements
                                      Tanggal 31 Desember 2023                                             As of December 31, 2023
                                     dan untuk tahun yang berakhir                                         and for year then ended
                                         pada tanggal tersebut                                        (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                        unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                        2.     SUMMARY     OF  MATERIAL      ACCOUNTING
                            YANG MATERIAL (lanjutan)                                             POLICIES INFORMATION (continued)

                            p.    Sewa (lanjutan)                                                p. Lease (continued)

                                  Pada tanggal permulaan sewa, Kelompok                              The Group recognises a right-of-use asset and a
                                  Usaha mengakui aset hak-guna dan liabilitas                        lease liability at the lease commencement date.
                                  sewa. Aset hak guna diukur pada biaya                              The right-of-use asset is initially measured at
                                  perolehan, dimana meliputi jumlah pengukuran                       cost, which comprises the initial amount of the
                                  awal liabilitas sewa yang disesuaikan dengan                       lease liability adjusted for any lease payment
                                  pembayaran sewa yang dilakukan pada atau                           made at or before the commencement date, plus
                                  sebelum tanggal permulaan, ditambah dengan                         any initial direct cost incurred and an estimate of
                                  biaya langsung awal yang dikeluarkan dan                           costs to dismantle and remove the underlying
                                  estimasi biaya yang akan dikeluarkan untuk                         asset or to restore the underlying asset to the
                                  membongkar dan memindahkan aset pendasar                           condition required by the terms and conditions of
                                  atau untuk merestorasi aset pendasar ke                            the lease, less any lease incentives received.
                                  kondisi yang disyaratkan dan ketentuan sewa,
                                  dikurangi dengan insentif sewa yang diterima.

                                  Aset hak guna kemudian disusutkan                                  The right-of-use asset is subsequently
                                  menggunakan metode garis lurus dari tanggal                        depreciated using the straight-line method from
                                  permulaan hingga tanggal yang lebih awal                           the commencement date to the earlier of the end
                                  antara akhir umur manfaat aset hak-guna atau                       of the useful life of the right-of-use asset or the
                                  akhir masa sewa.                                                   end of the lease term.

                                  Liabilitas sewa diukur pada nilai kini                             The lease liability is initially measured at the
                                  pembayaran sewa yang belum dibayar pada                            present value of the lease payments that are not
                                  tanggal permulaan, didiskontokan dengan                            paid at the commencement date, discounted
                                  menggunakan suku bunga implisit dalam sewa                         using the interest rate implicit in the lease or, if
                                  atau jika suku bunga tersebut tidak dapat                          that rate cannot be readily determined, using the
                                  ditentukan, maka menggunakan suku bunga                            incremental borrowing rate. Generally, the Group
                                  pinjaman inkremental. Pada umumnya,                                uses its incremental borrowing rate as the
                                  Kelompok Usaha menggunakan suku bunga                              discount rate.
                                  pinjaman inkremental sebagai tingkat bunga
                                  diskonto.

                                  Pembayaran sewa yang termasuk dalam                                Lease payments included in the measurement of
                                  pengukuran     liabilitas  sewa    meliputi                        the lease liability comprise fixed payments,
                                  pembayaran tetap, termasuk pembayaran tetap                        including in-substance fixed payments less any
                                  secara substansi dikurangi dengan piutang                          lease incentive receivable.
                                  insentif sewa.

                                  Setiap pembayaran sewa dialokasikan sebagai                        Each lease payment is allocated between finance
                                  beban keuangan dan pengurangan liabilitas                          charges and reduction of the lease liability so as to
                                  sehingga menghasilkan tingkat suku bunga                           achieve a constant rate on the finance balance
                                  yang konstan atas saldo liabilitas yang tersisa.                   outstanding.

                                  Pembayaran yang terkait dengan sewa guna                           Payments associated with short-term leases and
                                  usaha jangka pendek dan sewa guna aset                             leases of low-value assets are recognized on a
                                  bernilai rendah diakui berdasarkan basis garis                     straight-line basis as an expense in the statements
                                  lurus sebagai beban dalam laporan laba rugi.                       of profit or loss. Short-term leases are leases with
                                  Sewa jangka pendek adalah sewa dengan                              a lease term up to 12 months.
                                  jangka waktu sewa hingga 12 bulan.




                                                                                     42




330 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 331
                                                                       The original consolidated financial statements included herein
                                                                                                     are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                     financial statements
               Tanggal 31 Desember 2023                                              As of December 31, 2023
              dan untuk tahun yang berakhir                                          and for year then ended
                  pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                       2.     SUMMARY     OF  MATERIAL      ACCOUNTING
     YANG MATERIAL (lanjutan)                                            POLICIES INFORMATION (continued)
     q.    Pajak penghasilan badan                                        q.    Corporate income tax
           Pajak Final                                                         Final Tax

           Peraturan perpajakan di Indonesia mengatur                          Tax regulation in Indonesia determined that
           beberapa jenis penghasilan dikenakan pajak                          certain taxable income is subject to final tax.
           yang bersifat final. Pajak final yang dikenakan                     Final tax applied to the gross value of
           atas nilai bruto transaksi tetap dikenakan                          transaction is applied even when the parties
           walaupun atas transaksi tersebut pelaku                             carrying the transaction recognize losses.
           transaksi mengalami kerugian.

           Pajak final tidak termasuk dalam lingkup yang                       Final tax is no longer governed by
           diatur oleh PSAK No. 46. Oleh karena itu,                           PSAK No. 46. Therefore, the Group has
           Kelompok       Usaha     memutuskan     untuk                       decided to present all of the final tax arising
           menyajikan beban pajak final sehubungan                             from land rent revenue and interest income
           dengan penghasilan sewa tanah dan                                   from banks as separate line item.
           pendapatan bunga dari bank sebagai pos
           tersendiri.

           Perbedaan antara nilai tercatat dari aset                           The difference between the carrying amount
           revaluasian dan dasar pengenaan pajak                               of a revalued asset and its tax base is a
           merupakan perbedaan termporer sehingga                              temporary difference and gives rise to a
           menimbulkan liabilitas atau aset pajak                              deferred tax liability or asset, except for
           tangguhan, kecuali untuk aset tertentu seperti                      certain asset such as land, which realization
           tanah yang pada saat realisasinya dikenakan                         is taxed with final tax on gross value of
           pajak final yang dikenakan atas nilai bruto                         transaction.
           transaksi.

           Pajak Kini                                                          Current Tax

           Aset dan liabilitas pajak kini untuk tahun                          Current income tax assets and liabilities for
           berjalan diukur sebesar jumlah yang                                 the current period are measured at the
           diharapkan dapat direstitusi dari atau                              amount expected to be recovered from or
           dibayarkan kepada otoritas perpajakan.                              paid to the taxation authority.

           Beban pajak kini ditentukan berdasarkan laba                        Current tax expense is determined based on
           kena pajak tahun berjalan yang dihitung                             the taxable profit for the year computed using
           berdasarkan tarif pajak yang berlaku.                               the prevailing tax rates.

           Kekurangan/kelebihan pembayaran pajak                               Underpayment/overpayment of income tax is
           penghasilan dicatat sebagai bagian dari                             presented as part of “Tax Expense - Current”
           “Beban Pajak Kini” dalam laporan laba rugi dan                      in the consolidated statements of profit or loss
           penghasilan komprehensif lain konsolidasian.                        and other comprehensive income. The Group
           Kelompok      Usaha       juga     menyajikan                       also presented interest/penalty, if any, as part
           bunga/denda, jika ada, sebagai bagian dari                          of “Tax Expense - Current”.
           “Beban Pajak Kini”.

           Koreksi terhadap liabilitas perpajakan diakui                       Amendments to tax obligations are recorded
           pada saat surat ketetapan pajak diterima atau,                      when a tax assessment letter is received or,
           jika diajukan keberatan, pada saat keputusan                        if appealed against, when the result of the
           atas keberatan ditetapkan.                                          appeal is determined.




                                                             43




                                                                                                                                                        331
                                                                                                             PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                   Laporan Tahunan 2023 Annual Report
Page 332
                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                 financial statements
                                      Tanggal 31 Desember 2023                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                      and for year then ended
                                         pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                      2.    SUMMARY OF MATERIAL ACCOUNTING
                            YANG MATERIAL (lanjutan)                                          POLICIES INFORMATION (continued)

                            q.    Pajak penghasilan badan (lanjutan)                         q.   Corporate income tax (continued)

                                  Pajak Tangguhan                                                 Deferred Tax

                                  Aset dan liabilitas pajak tangguhan diakui                      Deferred tax assets and liabilities are
                                  menggunakan         metode    liabilitas  atas                  recognized using the liability method for the
                                  konsekuensi pajak pada masa mendatang                           future tax consequences attributable to
                                  yang timbul dari perbedaan jumlah tercatat                      differences between the carrying amounts of
                                  aset dan liabilitas menurut laporan keuangan                    existing assets and liabilities in the
                                  konsolidasian dengan dasar pengenaan pajak                      consolidated financial statements and their
                                  aset dan liabilitas pada setiap tanggal                         respective tax bases at each reporting date.
                                  pelaporan. Liabilitas pajak tangguhan diakui                    Deferred tax liabilities are recognized for all
                                  untuk semua perbedaan temporer kena pajak                       taxable temporary differences and deferred
                                  dan aset pajak tangguhan diakui untuk                           tax assets are recognized for deductible
                                  perbedaan temporer yang boleh dikurangkan                       temporary differences and accumulated fiscal
                                  dan akumulasi rugi fiskal, sepanjang besar                      losses to the extent that it is probable that
                                  kemungkinan perbedaan temporer yang boleh                       taxable profit will be available in future years
                                  dikurangkan dan akumulasi rugi fiskal tersebut                  against which the deductible temporary
                                  dapat dimanfaatkan untuk mengurangi laba                        differences and accumulated fiscal losses can
                                  kena pajak pada masa depan.                                     be utilized.

                                  Jumlah tercatat aset pajak tangguhan ditelaah                   The carrying amount of a deferred tax asset is
                                  ulang pada akhir setiap periode pelaporan dan                   reviewed at the end of each reporting period
                                  diturunkan apabila laba fiskal mungkin tidak                    and reduced to the extent that it is no longer
                                  memadai untuk mengkompensasi sebagian                           probable that sufficient taxable profit will be
                                  atau semua manfaat aset pajak tangguhan                         available to allow the benefit of part or all of
                                  tersebut. Pada akhir setiap periode pelaporan,                  that deferred tax asset to be utilized. At the end
                                  Kelompok Usaha menilai kembali aset pajak                       of each reporting period, the Group
                                  tangguhan yang tidak diakui. Kelompok Usaha                     reassesses unrecognized deferred tax assets.
                                  mengakui aset pajak tangguhan yang                              The Group recognizes a previously
                                  sebelumnya tidak diakui apabila besar                           unrecognized deferred tax assets to the extent
                                  kemungkinan bahwa laba fiskal pada masa                         that it has become probable that future taxable
                                  depan akan tersedia untuk pemulihannya.                         profit will allow the deferred tax assets to be
                                                                                                  recovered.

                                  Pajak       tangguhan     dihitung    dengan                    Deferred tax is calculated at the tax rates that
                                  menggunakan tarif pajak yang berlaku atau                       have been enacted or substantively enacted at
                                  secara substansial telah berlaku pada tanggal                   the reporting date. Changes in the carrying
                                  pelaporan. Perubahan nilai tercatat aset dan                    amount of deferred tax assets and liabilities
                                  liabilitas pajak tangguhan yang disebabkan                      due to a change in tax rates are charged to
                                  oleh perubahan tarif pajak dibebankan pada                      current period operations, except to the extent
                                  usaha periode berjalan, kecuali untuk                           that they relate to items previously charged or
                                  transaksi-transaksi yang sebelumnya telah                       credited to equity.
                                  langsung dibebankan atau dikreditkan ke
                                  ekuitas.

                                  Aset dan liabilitas pajak tangguhan disajikan                   Deferred tax assets and liabilities are offset in
                                  secara saling hapus dalam laporan posisi                        the consolidated statements of financial
                                  keuangan konsolidasian, kecuali aset dan                        position, except if they are for different legal
                                  liabilitas pajak tangguhan untuk entitas yang                   entities, consistent with the presentation of
                                  berbeda, sesuai dengan penyajian aset dan                       current tax assets and liabilities.
                                  liabilitas pajak kini.




                                                                                   44




332 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 333
                                                                    The original consolidated financial statements included herein
                                                                                                  are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                   financial statements
               Tanggal 31 Desember 2023                                            As of December 31, 2023
              dan untuk tahun yang berakhir                                        and for year then ended
                  pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                        2.    SUMMARY OF MATERIAL ACCOUNTING
     YANG MATERIAL (lanjutan)                                            POLICIES INFORMATION (continued)
     r.    Provisi                                                       r. Provision
           Provisi diakui jika Kelompok Usaha memiliki                       Provisions are recognized when the Group has
           liabilitas kini (baik bersifat hukum maupun                       a present obligation (legal or constructive)
           bersifat konstruktif) yang akibat peristiwa masa                  where, as a result of a past event, it is probable
           lalu besar kemungkinannya penyelesaian                            that an outflow of resources embodying
           liabilitas tersebut mengakibatkan arus keluar                     economic benefits will be required to settle the
           sumber daya yang mengandung manfaat                               obligation and a reliable estimate can be made
           ekonomi dan estimasi yang andal mengenai                          of the amount of the obligation.
           jumlah liabilitas tersebut dibuat.

           Provisi ditelaah pada setiap akhir periode                        Provisions are reviewed at each reporting date
           pelaporan dan disesuaikan untuk mencerminkan                      and adjusted to reflect the current best estimate.
           estimasi kini terbaik. Jika tidak terdapat                        If it is no longer probable that an outflow of
           kemungkinan arus keluar sumber daya yang                          resources embodying economic benefits will be
           mengandung       manfaat    ekonomi    untuk                      required to settle the obligation, the provision is
           menyelesaikan liabilitas tersebut, provisi                        reversed.
           dibatalkan.

     s.    Liabilitas imbalan kerja karyawan                            s.   Employee benefits liabilities

           Imbalan kerja jangka pendek                                        Short-term employee benefits

           Imbalan kerja jangka pendek adalah imbalan                         Short-term employee benefits are employee
           kerja yang jatuh tempo dalam jangka waktu dua                      benefit which are due for payment within twelve
           belas bulan setelah akhir periode pelaporan dan                    months after the end of reporting period and
           diakui pada saat pekerja telah memberikan jasa                     recognized when the employees have rendered
           kerjanya.                                                          their service.

           Imbalan kerja jangka panjang                                       Long-term employee benefits

           Kelompok Usaha juga mencatat penyisihan                            The Group also provides additional provisions
           manfaat tambahan selain program dana                               on top of the benefits provided under the above-
           pensiun tersebut di atas untuk memenuhi dan                        mentioned defined contribution pension
           menutup imbalan minimum yang harus dibayar                         programs in order to meet and cover the
           kepada karyawan-karyawan sesuai dengan                             minimum benefits required to be paid to the
           Perjanjian Kerja Bersama dan Undang-undang                         qualified employees under Collective Labor
           Penciptaan Lapangan Kerja No. 11/2020                              Agreement and Job Creation Law No. 11/2020
           (“UU Cipta Kerja”, (UUCK)). Penyisihan                             (the “Cipta Kerja Law”, (UUCK)). The said
           tambahan     tersebut    diestimasi dengan                         additional provisions are estimated using
           menggunakan perhitungan aktuarial metode                           actuarial calculations using the “Projected Unit
           “Projected Unit Credit”.                                           Credit” method.

           Kelompok Usaha mengakui keseluruhan                                The Group recognizes all actuarial gains and
           keuntungan atau kerugian aktuaria sebagai                          losses as other reserves (other comprehensive
           bagian dari cadangan lainnya (metode                               income method) in the period in which they
           penghasilan komprehensif lain) di dalam                            arise. Past service costs are directly charged to
           periode terjadinya. Biaya jasa lalu diakui                         profit or loss.
           seketika di dalam laba rugi.




                                                              45




                                                                                                                                                     333
                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                Laporan Tahunan 2023 Annual Report
Page 334
                                                                                            The original consolidated financial statements included herein
                                                                                                                          are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                 financial statements
                                      Tanggal 31 Desember 2023                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                      and for year then ended
                                         pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                         2.   SUMMARY OF MATERIAL ACCOUNTING
                            YANG MATERIAL (lanjutan)                                            POLICIES INFORMATION (continued)
                            s.    Liabilitas imbalan kerja karyawan (lanjutan)                  s. Employee benefits liabilities (continued)
                                  Imbalan kerja jangka panjang (lanjutan)                          Long-term employee benefits (continued)
                                  Kelompok Usaha mengakui laba atau rugi dari                       The Group recognizes gains or losses on the
                                  kurtailmen pada saat kurtailmen terjadi, yaitu                    curtailment when the curtailment occurs, that is
                                  apabila terdapat komitmen untuk melakukan                         when there is a commitment to make a material
                                  pengurangan material terhadap jumlah                              reduction in the number of employees covered
                                  karyawan yang ditanggung oleh suatu program                       by a plan or when there is an amendment of the
                                  atau apabila terdapat perubahan terhadap                          defined benefit plan terms such that a material
                                  ketentuan-ketentuan pada suatu program                            element of future services to be provided by
                                  imbalan pasti, dimana bagian yang material                        current employees will no longer qualify for
                                  untuk jasa yang diberikan oleh karyawan pada                      benefits or will qualify only for reduced benefits.
                                  masa depan tidak lagi memberikan suatu                            The gain or loss on settlement recognized when
                                  imbalan, atau memberikan imbalan yang lebih                       there is a transaction that eliminates all further
                                  rendah. Laba atau rugi penyelesaian diakui                        legal or constructive obligation for part or all of
                                  apabila terdapat transaksi yang menghapuskan                      the benefits provided under a defined benefit
                                  semua kewajiban hukum atau konstruktif atas                       plan. The gain or loss on curtailment comprises
                                  seluruh imbalan dalam program manfaat pasti.                      any resulting change in present value of the
                                  Keuntungan atau kerugian kurtailmen terdiri                       obligations and any related actuarial gains and
                                  dari perubahan yang terjadi dalam nilai kini dari                 losses and past service cost that had not
                                  liabilitas dan keuntungan atau kerugian                           previously been recognized.
                                  aktuarial dan biaya jasa lalu yang belum diakui
                                  sebelumnya.

                            t.    Pengakuan Pendapatan dan Beban                                t. Revenue and Expense Recognition
                                  Kelompok Usaha menerapkan PSAK No. 72,                           The Group has adopted PSAK No. 72, “Revenue
                                  “Pendapatan dari Kontrak dengan Pelanggan”,                      from Contracts with Customers”, which requires
                                  yang mensyaratkan pengakuan pendapatan                           revenue recognition to fulfill 5 (five) steps of
                                  untuk memenuhi 5 (lima) langkah analisis                         assessments as follows:
                                  sebagai berikut:

                                  1. Identifikasi kontrak dengan pelanggan.                        1. Identify contracts with customers.
                                  2. Identifikasi kewajiban pelaksanaan dalam                      2. Identify the performance obligations in the
                                     kontrak.        Kewajiban       pelaksanaan                      contract. Performance obligations are
                                     merupakan janji-janji dalam kontrak untuk                        promises in a contract to transfer to a
                                     menyerahkan barang atau jasa yang                                customer goods or services that ate distinct.
                                     memiliki      karakteristik   berbeda       ke
                                     pelanggan.
                                  3. Menetapkan harga transaksi, setelah                           3. Determine the transaction price, net of
                                     dikurangi diskon, retur, insentif penjualan                      discounts, returns, sales incentives and
                                     dan pajak pertambahan nilai, yang berhak                         value added tax, ehich an entity expects to
                                     diperoleh suatu entitas sebagai kompensasi                       be entitled in exchange for transferring the
                                     atas diserahkannya barang atau jasa yang                         promised goods or services to a customer.
                                     dijanjikan di kontrak.
                                  4. Alokasi harga transaksi ke setiap kewajiban                   4. Allocate the transaction price to each
                                     pelaksanaan dengan menggunakan dasar                             performance obligation on the basis of the
                                     harga jual berdiri sendiri relatif dari setiap                   relative stand-alone selling prices of each
                                     barang atau jasa berbeda yang dijanjikan di                      distinct goods or services promises in the
                                     kontrak. Ketika tidak dapat diamati secara                       contract. Where these are not directly
                                     langsung, harga jual berdiri sendiri relatif                     observable, the relative standalone selling
                                     diperkirakan berdasarkan biaya yang                              price are estimated based on expected cost
                                     diharapkan ditambah marjin.                                      plus margin.




                                                                                      46




334 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 335
                                                                  The original consolidated financial statements included herein
                                                                                                are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                  financial statements
               Tanggal 31 Desember 2023                                           As of December 31, 2023
              dan untuk tahun yang berakhir                                       and for year then ended
                  pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR     INFORMASI       KEBIJAKAN                       2.   SUMMARY OF MATERIAL ACCOUNTING
     AKUNTANSI YANG MATERIAL (lanjutan)                                POLICIES INFORMATION (continued)

     t.    Pengakuan       Pendapatan       dan     Beban              t.     Revenue     and        Expense        Recognition
           (lanjutan)                                                         (continued)

           Kelompok Usaha menerapkan PSAK No. 72,                              The Group has adopted PSAK No. 72,
           “Pendapatan dari Kontrak dengan Pelanggan”,                         “Revenue from Contracts with Customers”,
           yang mensyaratkan pengakuan pendapatan                              which requires revenue recognition to fulfill 5
           untuk memenuhi 5 (lima) langkah analisis                            (five) steps of assessments as follows:
           sebagai berikut: (lanjutan)                                         (continued)

           5. Pengakuan pendapatan ketika kewajiban                            5. Recognise revenue when performance
              pelaksanaan telah dipenuhi dengan                                   obligation is satisfied by transfeering a
              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 that goods or services).
              tersebut).

           Untuk     penjualan       barang,    kewajiban                      For sale of goods, performance obligation is
           pelaksanaan       umumnya     terpenuhi,   dan                      typically satisfied, and revenue is recognized,
           pendapatan diakui, pada saat pengendalian                           when the control of goods has been
           atas barang telah berpindah kepada pelanggan                        transferred to the customer (a point in time).
           (pada suatu titik waktu).

           Beban                                                               Expenses

           Beban diakui pada saat terjadinya (dasar                           Expenses are recognized when they are
           akrual).                                                           incurred (accrual basis).

     u.    Transaksi dengan pihak berelasi                             u.     Transaction with related parties

           Pihak berelasi didefinisikan sebagai berikut:                      A related party is defined as follows:
           a) Orang atau anggota keluarga terdekat                            a) A person or a close member of the person’s
              mempunyai relasi dengan Kelompok Usaha                             family is related to the Group if that person:
              jika orang tersebut:
              i. memiliki pengendalian atau pengendalian                         i.   has control or joint control over the
                   bersama Perseroan;                                                 Company;
              ii. memiliki pengaruh signifikan atas                              ii. has significant influence over the
                   Perseroan; atau                                                    Company; or
              iii. personil manajemen kunci Perseroan atau                       iii. is a member of the key management
                   entitas induk Perseroan.                                           personnel of the Company or of a parent
                                                                                      of the Company.
           b) Suatu entitas berelasi dengan Perseroan                         b) An entity is related to a reporting entity if any
              jika memenuhi salah satu hal berikut:                               of the following conditions applies:


               i.   Entitas dan Perseroan adalah anggota                         i.   The entity and the Company are
                    dari Kelompok Usaha yang sama                                     members of the same group (which
                    (artinya entitas induk, entitas anak,                             means that each parent, subsidiary and
                    dan entitas anak berikutnya terkait                               fellow subsidiary is related to the others).
                    dengan entitas lain).




                                                             47




                                                                                                                                                     335
                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                Laporan Tahunan 2023 Annual Report
Page 336
                                                                                                  The original consolidated financial statements included herein
                                                                                                                                are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                              PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                         AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                            financial statements
                                      Tanggal 31 Desember 2023                                                     As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                 and for year then ended
                                         pada tanggal tersebut                                                (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                unless otherwise stated)
                                        kecuali dinyatakan lain)


                      2.    IKHTISAR     INFORMASI       KEBIJAKAN                                2.        SUMMARY OF MATERIAL ACCOUNTING
                            AKUNTANSI YANG MATERIAL (lanjutan)                                              POLICIES INFORMATION (continued)

                            u.    Transaksi dengan pihak berelasi (lanjutan)                                u. Transaction with related parties (continued)

                                  b) Suatu entitas berelasi dengan Perseroan                                  b) An entity is related to a reporting entity if any
                                     jika memenuhi salah satu hal berikut:                                       of the following conditions applies:
                                     (lanjutan)                                                                  (continued)

                                         ii. Satu entitas adalah entitas asosiasi atau                          ii. One entity is an associate or joint venture of
                                              ventura bersama dari entitas lain (atau                               the other entity (or an associate or joint
                                              entitas asosiasi atau ventura bersama                                 venture of a member of a group of which
                                              yang merupakan            anggota suatu                               the other entity is a member).
                                              Kelompok Usaha, yang mana entitas
                                              lain tersebut adalah anggotanya).
                                         iii. Kedua entitas tersebut adalah ventura                             iii. Both entities are joint venture of the same
                                              bersama dari pihak ketiga yang sama.                                   third party.
                                         iv. Satu entitas adalah ventura bersama dari                           iv. One entity is a joint venture of a third entity
                                              entitas ketiga dan entitas yang lain adalah                            and the other entity is an associate of the
                                              entitas asosiasi dari entitas ketiga.                                  third entity.
                                         v. Entitas tersebut adalah suatu program                               v. The entity is a post-employment benefit
                                              imbalan pascakerja untuk imbalan kerja                                 plan for the benefit of employees of either
                                              dari salah satu entitas pelapor atau entitas                           the reporting entity or an entity related to
                                              yang terkait dengan entitas pelapor. Jika                              the reporting entity. If the reporting entity is
                                              entitas pelapor adalah entitas yang                                    itself such a plan, the sponsoring
                                              menyelenggarakan program tersebut,                                     employers are also related to the reporting
                                              maka entitas sponsor juga berelasi                                     entity.
                                              dengan entitas pelapor.
                                         vi. Entitas       yang     dikendalikan      atau                      vi. The entity is controlled or jointly controlled
                                              dikendalikan bersama oleh orang yang                                  by a person identified in (a).
                                              diidentifikasikan dalam huruf (a).
                                         vii. Orang yang diidentifikasi dalam huruf (a)                         vii. A person identified in (a) (i) has significant
                                              (i) memiliki pengaruh signifikan atas                                  influence over the entity or is a member of
                                              entitas atau personil manajemen kunci                                  the key management personnel of the
                                              entitas (atau entitas induk dari entitas).                             entity (or of a parent of the entity).

                                  Seluruh transaksi yang dilakukan dengan pihak                              All material transactions and balances with
                                  berelasi telah diungkapkan dalam Catatan 34.                               related parties are disclosed in Note 34.

                                  Transaksi    ini  dilakukan     berdasarkan                                The transactions are made based on terms
                                  persyaratan yang disetujui oleh kedua belah                                agreed by the parties.
                                  pihak.

                            v.    Laba per saham                                                       v.    Earnings per share
                                  Laba per saham dihitung dengan membagi laba                                Earnings per share is computed by dividing
                                  tahun berjalan yang dapat diatribusikan kepada                             income for the year attributable to the equity
                                  pemilik entitas induk dengan rata-rata                                     holders of the parent entity the weighted average
                                  tertimbang jumlah saham yang beredar untuk                                 number of issued and fully paid shares during the
                                  tahun yang bersangkutan. Rata-rata tertimbang                              year. The weighted average number share
                                  jumlah saham yang beredar untuk tahun yang                                 outstanding for the years ended December 31,
                                  berakhir pada tanggal 31 Desember 2023,                                    2023, 2022, and 2021 are 9,525,000,000 shares.
                                  2022, dan 2021 berjumlah 9.525.000.000
                                  lembar saham.




                                                                                             48




336 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 337
                                                                   The original consolidated financial statements included herein
                                                                                                 are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                   financial statements
               Tanggal 31 Desember 2023                                            As of December 31, 2023
              dan untuk tahun yang berakhir                                        and for year then ended
                  pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                 kecuali dinyatakan lain)


2.   IKHTISAR     INFORMASI       KEBIJAKAN                        2.   SUMMARY OF MATERIAL ACCOUNTING
     AKUNTANSI YANG MATERIAL (lanjutan)                                 POLICIES INFORMATION (continued)

     v.    Laba per saham (lanjutan)                                    v.     Earnings per share (continued)
           Perseroan tidak mempunyai saham biasa yang                         The Company has no outstanding dilutive
           berpotensi untuk bersifat dilutif pada tanggal                     potential ordinary shares as of December 31,
           31 Desember 2023, 2022 dan 2021, dan oleh                          2023, 2022, and 2021, and accordingly, no
           karenanya, laba per saham dilusian tidak                           diluted earnings per share is calculated and
           dihitung dan disajikan pada laporan laba rugi                      presented in the consolidated statement of profit
           dan komprehensif konsolidasian.                                    or loss and other comprehensive income.
     w. Dividen                                                         w. Dividend
           Pembagian dividen kepada para pemegang                             Dividend distribution to the Company’s
           saham Perseroan diakui sebagai liabilitas                          shareholders is recognized as a liability in the
           dalam laporan keuangan konsolidasian pada                          consolidated financial statements in which the
           saat dividen tersebut disetujui oleh para                          dividends are approved by the Company’s
           pemegang saham Perseroan.                                          shareholders.
           Pembagian dividen kepada pemegang saham                            Dividend distributions to the Company’s
           Perseroan     diakui  sebagai  kewajiban                           shareholders are recognized as a liability based
           berdasarkan keputusan Direksi dengan                               on decision of Directors with the approval from
           persetujuan Dewan Komisaris.                                       the Board of Commissioners.
     x.    Biaya penerbitan emisi saham                                 x.    Share issuance costs

           Biaya emisi saham disajikan sebagai                                Share issuance costs are presented as a
           pengurang tambahan modal disetor sebagai                           deduction from the additional paid-in capital in
           bagian dari ekuitas pada laporan posisi                            the equity section in the consolidated
           keuangan konsolidasian.                                            statements of financial position.
     y.    Segmen operasi                                               y.    Operating segment
           Segmen operasi adalah suatu komponen dari                          An operating segment is a component of an
           entitas:                                                           entity:
           (a) yang terlibat dalam aktivitas bisnis yang                      (a) that engages in business activities from
               mana memperoleh pendapatan dan                                     which it may earn revenues and incur
               menimbulkan         beban       (termasuk                          expenses (including revenues and
               pendapatan dan beban terkait dengan                                expenses related to transactions with other
               transaksi dengan komponen lain dari                                components of the same entity);
               entitas yang sama);
           (b) hasil operasinya dikaji ulang secara reguler                   (b) whose operating results are regularly
               oleh pengambil keputusan operasional                               reviewed by the entity’s chief operating
               untuk membuat keputusan tentang sumber                             decision maker to make decisions about
               daya yang dialokasikan pada segmen                                 resources to be allocated to the segment
               tersebut dan menilai kinerjanya, dan;                              and assess its performance, and;

           (c) tersedia informasi keuangan yang dapat                         (c) for which discrete financial information is
               dipisahkan.                                                        available.




                                                              49




                                                                                                                                                    337
                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 338
                                                                                           The original consolidated financial statements included herein
                                                                                                                         are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                 AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                        Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                    financial statements
                                    Tanggal 31 Desember 2023                                             As of December 31, 2023
                                   dan untuk tahun yang berakhir                                         and for year then ended
                                       pada tanggal tersebut                                        (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                        unless otherwise stated)
                                      kecuali dinyatakan lain)


                      2.    IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI                          2.     SUMMARY OF MATERIAL ACCOUNTING
                            YANG MATERIAL (lanjutan)                                               POLICIES INFORMATION (continued)

                             y. Segmen operasi (lanjutan)                                     y.    Operating segment (continued)

                                  Segmen operasi dapat terlibat dalam akivitas                      An operating segment may engage in business
                                  bisnis yang belum menghasilkan pendapatan,                        activities for which it has yet to earn revenues,
                                  misalnya operasi permulaan dapat menjadi                          for example, start-up operating may be
                                  segmen operasi sebelum memperoleh                                 operating segments before earning revenues.
                                  pendapatan.

                             z. Investasi pada entitas asosiasi                               z.    Investments in associated entities

                                  Entitas asosiasi adalah seluruh Perseroan di                      Associated entities are all entities which the
                                  mana Kelompok Usaha memiliki pengaruh                             Group has significant influence but not control,
                                  signifikan namun bukan pengendali, biasanya                       generally accompanying a direct or indirect
                                  melalui kepemilikan hak suara, baik secara                        shareholding more than 20% of the voting
                                  langsung maupun tidak langsung, lebih dari                        rights. Investments in associated entities are
                                  20% hak suara. Investasi pada entitas asosiasi                    accounted for using the equity method of
                                  dicatat dengan metode ekuitas dan pada                            accounting and are initially recognized at cost.
                                  awalnya diakui sebesar harga perolehan.                           The Group’s investments in associates includes
                                  Investasi Kelompok Usaha pada entitas                             goodwill identified on acquisition, net of
                                  asosiasi tersebut termasuk Goodwill yang                          impairment loss.
                                  diidentifikasi ketika akuisisi, dikurangi rugi
                                  penurunan nilai.

                                  Bagian Kelompok Usaha atas laba atau rugi                         The Group’s share of their associates post-
                                  entitas asosiasi pasca-akuisisi, diakui dalam                     acquisition profits or losses is recognized in the
                                  laporan    laba      rugi     dan   penghasilan                   consolidated statement of profit or loss and
                                  komprehensif lain konsolidasian. Bagian atas                      other comprehensive income and their share of
                                  mutasi penghasilan komprehensif lain pasca-                       post-acquisition      movement        in     other
                                  akuisisi,    diakui      didalam    penghasilan                   comprehensive income is recognized as other
                                  komprehensif      lain. Mutasi penghasilan                        comprehensive income. The cumulative post-
                                  komprehensif lain pasca-akuisisi disesuaikan                      acquisition movements are adjusted against the
                                  terhadap nilai tercatat investasinya. Jika bagian                 carrying amount of the investment. When the
                                  Kelompok Usaha atas kerugian entitas asosiasi                     Group’s share of losses in an associate exceed
                                  sama dengan atau melebihi kepentingannya                          its interest in the associates, the investment is
                                  pada entitas asosiasi, maka investasi                             reported at zero value.
                                  dilaporkan nihil.

                                  Keuntungan dan kerugian dilusi yang timbul                        Dilution gains and losses arising on investments
                                  dari investasi pada entitas asosiasi diakui                       in associates are recognized in the consolidated
                                  dalam laporan laba rugi dan penghasilan                           statement of profit or loss and other
                                  komprehensif lain konsolidasian.                                  comprehensive income.

                                  Keuntungan yang belum direalisasi atas                            Unrealized gains on transactions between the
                                  transaksi antara Kelompok Usaha dengan                            Group and their associates are eliminated to the
                                  entitas asosiasinya dieliminasi sebesar                           extent of the Group’s interest in the associates.
                                  kepentingan Kelompok Usaha pada entitas                           Unrealized losses, if any, are also eliminated
                                  asosiasi. Kerugian yang belum direalisasi, jika                   unless the transaction provides evidence of an
                                  ada, juga dieliminasi kecuali terjadi penurunan                   impairment of the asset transferred.
                                  nilai atas aset yang dialihkan.




                                                                                      50




338 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 339
                                                                 The original consolidated financial statements included herein
                                                                                               are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                financial statements
            Tanggal 31 Desember 2023                                         As of December 31, 2023
           dan untuk tahun yang berakhir                                     and for year then ended
               pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
              kecuali dinyatakan lain)


3.   PERTIMBANGAN, ESTIMASI            DAN     ASUMSI           3.   SIGNIFICANT  ACCOUNTING   JUDGMENTS,
     YANG SIGNIFIKAN                                                 ESTIMATES AND ASSUMPTIONS

     Penyusunan laporan keuangan konsolidasian                       The preparation of the consolidated financial
     berdasarkan Standar Akuntansi Keuangan di                       statements in conformity with Indonesian Financial
     Indonesia mewajibkan manajemen untuk membuat                    Accounting Standards requires management to
     estimasi dan asumsi yang mempengaruhi jumlah-                   make estimations and assumptions that affect
     jumlah yang dilaporkan dalam laporan keuangan                   amounts reported therein. Due to the inherent
     konsolidasian. Sehubungan dengan adanya                         uncertainty in making estimates, actual results
     ketidakpastian yang melekat dalam membuat                       reported in future periods might differ from those
     estimasi, hasil sebenarnya yang dilaporkan di masa              estimates.
     mendatang dapat berbeda dengan jumlah estimasi
     yang dibuat.

     Pertimbangan                                                    Judgments
     Pertimbangan berikut ini dibuat oleh manajemen                  The following judgments are made by management
     dalam rangka penerapan kebijakan akuntansi                      in the process of applying the Group’s accounting
     Kelompok Usaha yang memiliki pengaruh paling                    policies that have the most significant effects on the
     signifikan atas jumlah yang diakui dalam laporan                amounts recognized in the consolidated financial
     keuangan konsolidasian:                                         statements:

     Sewa                                                            Lease

     Kelompok Usaha mempunyai perjanjian-perjanjian                  The Group has entered into lease agreements
     sewa dimana Kelompok Usaha bertindak sebagai                    where the Group acts as a lessee for a certain fixed
     lessee untuk beberapa aset tetap tertentu.                      assets. The Group evaluates whether there are
     Kelompok Usaha mengevaluasi apakah terdapat                     significant risks and rewards of assets transferred
     risiko dan manfaat yang signifikan dari aset sewa               under PSAK No. 73, "Leases", which requires the
     yang dialihkan berdasarkan PSAK No. 73, “Sewa”,                 Group to make judgments and estimates of the
     yang mensyaratkan Kelompok Usaha untuk                          transfer of risks and rewards incidental to
     membuat pertimbangan dan estimasi dari                          ownership.
     pengalihan risiko dan manfaat terkait dengan
     kepemilikan aset.

     Kelompok Usaha mengadakan perjanjian sewa                       The Group entered into a lease of certain vehicles
     kendaraan dan alat berat tertentu. Kelompok Usaha               and heavy equipment. The Group had determined,
     telah menentukan, berdasarkan evaluasi atas syarat              based on an evaluation of the terms and conditions
     dan ketentuan dalam perjanjian, bahwa secara                    of the agreement, that substantially all the risks and
     substansial seluruh risiko dan manfaat yang terkait             rewards incidental to ownership of these leased
     dengan kepemilikan aset yang disewa dialihkan                   assets are transferred to the Group, therefore the
     kepada Kelompok Usaha sehingga perjanjian sewa                  lease agreement are recognized as a finance lease.
     tersebut diakui sebagai sewa pembiayaan.                        Further details are disclosed in Notes 13.
     Penjelasan lebih lanjut diungkapkan dalam
     Catatan 13.

     Tagihan dan keberatan atas hasil pemeriksaan                    Claims for tax refund and tax assessments under
     Pajak                                                           appeal

     Berdasarkan peraturan perpajakan yang berlaku                   Based on tax regulations currently enacted, the
     saat ini, manajemen mempertimbangkan apakah                     management judged if the amounts recorded under
     jumlah yang tercatat dalam akun di atas dapat                   the above account are recoverable and refundable
     dipulihkan dan direstitusi oleh Otoritas Pajak.                 by the Tax Authorities. Further details are disclosed
     Penjelasan lebih rinci diungkapkan dalam                        in Note 20.
     Catatan 20.




                                                           51




                                                                                                                                                  339
                                                                                                       PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                             Laporan Tahunan 2023 Annual Report
Page 340
                                                                                          The original consolidated financial statements included herein
                                                                                                                        are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                 financial statements
                                    Tanggal 31 Desember 2023                                          As of December 31, 2023
                                   dan untuk tahun yang berakhir                                      and for year then ended
                                       pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                      kecuali dinyatakan lain)


                      3.    PERTIMBANGAN, ESTIMASI              DAN     ASUMSI           3.   SIGNIFICANT  ACCOUNTING    JUDGMENTS,
                            YANG SIGNIFIKAN (lanjutan)                                        ESTIMATES AND ASSUMPTIONS (continued)

                            Estimasi dan asumsi                                               Estimates and assumptions

                            Asumsi utama masa depan dan sumber utama                          The key assumptions concerning the future and
                            estimasi ketidakpastian lain pada akhir periode                   other key sources of estimation uncertainty at the
                            pelaporan yang memiliki risiko signifikan bagi                    reporting date that have a significant risk of causing
                            penyesuaian yang material terhadap nilai tercatat                 a material adjustment to the carrying amounts of
                            aset dan liabilitas untuk tahun finansial berikutnya,             assets and liabilities within the next financial year
                            diungkapkan di bawah ini. Kelompok Usaha                          are disclosed below. The Group based its
                            mendasarkan asumsi dan estimasi pada parameter                    assumptions and estimates on parameters available
                            yang tersedia pada saat laporan keuangan                          when the consolidated financial statements were
                            konsolidasian disusun. Asumsi dan situasi                         prepared. Existing assumptions and circumstances
                            mengenai perkembangan masa depan mungkin                          about future developments, may change due to
                            berubah akibat perubahan pasar atau situasi di luar               market changes or circumstances arising beyond
                            kendali Kelompok Usaha. Perubahan tersebut                        the control of the Group. That changes are reflected
                            dicerminkan dalam asumsi terkait pada saat                        in the assumptions as it occur.
                            terjadinya.

                            Amortisasi tanaman menghasilkan                                   Amortization of mature plantation

                            Biaya     perolehan   tanaman    menghasilkan                     The costs of mature plantation are amortized on a
                            diamortisasi dengan menggunakan metode garis                      straight-line basis over their estimated useful lives.
                            lurus berdasarkan taksiran masa manfaat                           Management properly estimates the useful lives of
                            ekonomisnya. Manajemen mengestimasi masa                          these mature plantation to be 20 years. These are
                            manfaat ekonomis tanaman menghasilkan selama                      common life expectancies adopted in the industries
                            20 tahun, yang merupakan masa manfaat ekonomis                    where the Group conducts its business. Further
                            yang secara umum diharapkan dalam industri di                     details are disclosed in Note 12a.
                            mana Kelompok Usaha menjalankan usahanya.
                            Penjelasan lebih rinci diungkapkan dalam
                            Catatan 12a.

                            Penyusutan aset tetap dan aset tak berwujud                       Depreciation of fixed assets and intangible assets

                            Biaya perolehan aset tetap disusutkan dengan                      The costs of fixed assets are depreciated on a
                            menggunakan metode garis lurus berdasarkan                        straight-line basis over their estimated useful lives.
                            taksiran masa manfaat ekonomisnya. Manajemen                      Management properly estimates the useful lives of
                            mengestimasi masa manfaat ekonomis aset tetap                     these fixed assets to be within 5 to 20 years. These
                            antara 5 sampai dengan 20 tahun, yang merupakan                   are common life expectancies adopted in the
                            masa manfaat ekonomis yang secara umum                            industries where the Group conducts its businesses.
                            diharapkan dalam industri di mana Kelompok Usaha                  Changes in the expected level of usage and
                            menjalankan usahanya. Perubahan pemakaian dan                     technological development could impact the
                            perkembangan teknologi dapat mempengaruhi                         economic useful lives and the residual values of
                            masa manfaat ekonomis dan nilai sisa aset, dan                    these assets, and therefore future depreciation
                            karenanya beban penyusutan masa depan mungkin                     charges could be revised. Further details are
                            direvisi. Penjelasan lebih rinci diungkapkan dalam                disclosed in Notes 12b and 14.
                            Catatan 12b dan 14.




                                                                                    52




340 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 341
                                                                   The original consolidated financial statements included herein
                                                                                                 are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                  financial statements
            Tanggal 31 Desember 2023                                           As of December 31, 2023
           dan untuk tahun yang berakhir                                       and for year then ended
               pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
              kecuali dinyatakan lain)


3.   PERTIMBANGAN, ESTIMASI              DAN     ASUMSI           3.   SIGNIFICANT  ACCOUNTING    JUDGMENTS,
     YANG SIGNIFIKAN (lanjutan)                                        ESTIMATES AND ASSUMPTIONS (continued)

     Estimasi dan asumsi (lanjutan)                                    Estimates and assumptions (continued)

     Imbalan kerja karyawan                                            Employee benefits

     Pengukuran liabilitas imbalan kerja Kelompok                      The measurement of the Group’ employee benefits
     Usaha bergantung pada pemilihan asumsi yang                       liability is dependent on its selection of certain
     digunakan oleh aktuaris independen dalam                          assumptions used by the independent actuaries in
     menghitung jumlah-jumlah tersebut. Asumsi                         calculating such amounts. Those assumptions
     tersebut termasuk antara lain, tingkat diskonto,                  include among others, discount rates, future annual
     tingkat kenaikan gaji tahunan, tingkat pengunduran                salary increase, annual employee turn-over rate,
     diri karyawan tahunan, tingkat kecacatan, umur                    disability rate, retirement age and mortality rate.
     pensiun dan tingkat kematian. Keuntungan atau                     Actuarial gains or losses arising from experience
     kerugian aktuarial yang timbul dari penyesuaian dan               adjustments and changes in actuarial assumptions
     perubahan dalam asumsi-asumsi aktuarial diakui                    are recognized immediately in the consolidated
     secara langsung pada laporan posisi keuangan                      statement of financial position with a corresponding
     konsolidasian dengan debit atau kredit ke saldo laba              debit or credit to retained earnings through OCI the
     melalui PKL dalam periode terjadinya.                             the period in which they occur.
     Sementara Kelompok Usaha berkeyakinan bahwa                       While the Group believes that its assumptions are
     asumsi tersebut adalah wajar dan sesuai,                          reasonable and appropriate, significant differences
     perbedaan signifikan pada hasil aktual atau                       in the Group’s actual experiences or significant
     perubahan signifikan dalam asumsi yang ditetapkan                 changes in the Group’s assumptions may materially
     Kelompok Usaha dapat mempengaruhi secara                          affect its estimated liabilities for pension and
     material liabilitas diestimasi atas pensiun dan                   employee benefits and net employee benefits
     imbalan kerja dan beban imbalan kerja neto.                       expense.

     Nilai tercatat neto liabilitas imbalan kerja Kelompok             The net carrying amount of the Group’s employee
     Usaha pada tanggal 31 Desember 2023 dan                           benefits liability as of December 31, 2023 and
     Penjelasan lebih rinci atas imbalan kerja                         further details on employee benefits are disclosed in
     diungkapkan dalam Catatan 25.                                     Note 25.
     Pajak penghasilan badan                                           Corporate income tax
     Pertimbangan       signifikan  dilakukan   dalam                  Significant judgement is involved in determining
     menentukan provisi atas pajak penghasilan badan.                  provision for corporate income tax. There are certain
     Terdapat transaksi dan perhitungan tertentu yang                  transactions and computation for which the ultimate
     penentuan pajak akhirnya adalah tidak pasti                       tax determination is uncertain during the ordinary
     sepanjang kegiatan usaha normal. Kelompok Usaha                   course of business. The Group recognizes liabilities
     mengakui liabilitas atas pajak penghasilan badan                  for expected corporate income tax issues based on
     berdasarkan estimasi apakah akan terdapat                         estimates of whether additional corporate income
     tambahan pajak penghasilan badan. Penjelasan                      tax will be due. Further details are disclosed in Note
     lebih rinci diungkapkan dalam Catatan 20e.                        20e.




                                                             53




                                                                                                                                                    341
                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 342
                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                financial statements
                                    Tanggal 31 Desember 2023                                         As of December 31, 2023
                                   dan untuk tahun yang berakhir                                     and for year then ended
                                       pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
                                      kecuali dinyatakan lain)


                      3.    PERTIMBANGAN, ESTIMASI             DAN     ASUMSI           3.   SIGNIFICANT  ACCOUNTING    JUDGMENTS,
                            YANG SIGNIFIKAN (lanjutan)                                       ESTIMATES AND ASSUMPTIONS (continued)

                            Estimasi dan asumsi (lanjutan)                                   Estimates and assumptions (continued)

                            Ketidakpastian eksposur pajak                                    Uncertain tax exposure
                            Dalam keadaan tertentu, Kelompok Usaha mungkin                   In certain circumstances, the Group may not be able
                            tidak dapat menentukan jumlah yang tepat atas                    to determine the exact amount of its current or future
                            kewajiban pajak sekarang atau akan datang karena                 tax liabilities due to ongoing investigations by the
                            investigasi yang masih berlangsung oleh otoritas                 taxation authority. Uncertainties exist with respect to
                            perpajakan. Ketidakpastian terjadi karena adanya                 the interpretation of complex tax regulations and the
                            interpretasi atas peraturan pajak yang kompleks,                 amount and timing of future taxable income.
                            saat pengenaan dan jumlah pendapatan kena pajak
                            yang akan datang.

                            Dalam menentukan jumlah yang diakui atas                         In determining the amount to be recognized in
                            ketidakpastian kewajiban pajak, Kelompok Usaha                   respect of an uncertain tax liability, the Group
                            menerapkan pertimbangan yang sama seperti                        applies similar considerations as it would use in
                            dalam menentukan provisi yang diakui sesuai                      determining the amount of a provision to be
                            dengan PSAK No. 57, “Provisi, Liabilitas Kontinjensi             recognized in accordance with PSAK No. 57,
                            dan Aset Kontinjensi” dan ISAK No. 34,                           “Provisions, Contingent Liabilities and Contingent
                            “ketidakpastian    dalam      perlakuan       pajak              Assets” and ISAK No. 34, “Uncertainty over Income
                            penghasilan”. Kelompok Usaha membuat analisa                     Tax Treatments”. The Group makes an analysis of
                            atas semua posisi pajak yang berhubungan dengan                  all tax positions related to income taxes to determine
                            pajak pendapatan untuk menentukan diakui atau                    whether a tax liability on unrecognized tax benefit
                            tidaknya kewajiban pajak atau manfaat pajak yang                 should be recognized.
                            belum diakui.
                            Penyisihan atas penurunan nilai piutang                          Allowance for impairment of accounts receivable

                            Kelompok Usaha menetapkan estimasi penyisihan                    The Group estimates impairment allowance for
                            penurunan nilai piutang usaha menggunakan                        trade receivables using simplified approach of
                            pendekatan yang disederhanakan dari Kerugian                     Expected Credit Loss (ECL). A provision matrix is
                            Kredit Ekspektasian (KKE). Matriks provisi                       used to determine ECL for trade and other
                            digunakan untuk menghitung KKE untuk piutang                     receivables, where the provision rates are based on
                            usaha dan lain-lain. Tarif provisi didasarkan pada               days past due for groupings of various customer
                            hari tunggakan untuk pengelompokan berbagai                      segments that have similar loss patterns.
                            segmen pelanggan yang memiliki pola kerugian
                            serupa.

                           Matriks provisi awalnya didasarkan pada riwayat                   The provision matrix is initially based on the
                           tingkat kerugian pelanggan. Kelompok Usaha akan                   customers historical observed loss rates. The Group
                           melakukan penyesuaian pengalaman kerugian                         will adjust the historical observed loss experience
                           historis dengan informasi berwawasan ke depan.                    with forward-looking information. For instance, if
                           Misalnya, jika prakiraan kondisi ekonomi yang terkait             forecast economic conditions closely related to the
                           erat dengan riwayat tingkat kerugian diperkirakan                 historical observed loss are expected to deteriorate
                           akan memburuk pada tahun berikutnya yang dapat                    over the next year which can lead to an increased
                           menyebabkan peningkatan jumlah gagal bayar pada                   number of defaults in the sectors where customers
                           sektor-sektor pelanggan beroperasi, riwayat tingkat               are operating, the historical losses are adjusted
                           kerugian disesuaikan. Pada setiap tanggal                         accordingly. At every reporting date, the historical
                           pelaporan, riwayat tingkat gagal bayar yang diamati               observed loss rates are updated and changes in the
                           diperbarui dan perubahan dalam estimasi                           forward-looking estimates are analyzed.
                           berwawasan ke depan dianalisis.




                                                                                   54




342 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 343
                                                                  The original consolidated financial statements included herein
                                                                                                are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                 financial statements
            Tanggal 31 Desember 2023                                          As of December 31, 2023
           dan untuk tahun yang berakhir                                      and for year then ended
               pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
              kecuali dinyatakan lain)


3.   PERTIMBANGAN, ESTIMASI             DAN     ASUMSI           3.   SIGNIFICANT  ACCOUNTING    JUDGMENTS,
     YANG SIGNIFIKAN (lanjutan)                                       ESTIMATES AND ASSUMPTIONS (continued)

     Estimasi dan asumsi (lanjutan)                                   Estimates and assumptions (continued)

     Penyisihan atas penurunan nilai piutang (lanjutan)               Allowance for impairment of accounts receivable
                                                                      (continued)

     Evaluasi atas korelasi antara tingkat gagal bayar                The assessment of the correlation between
     yang diamati secara historis, prakiraan kondisi                  historical observed loss rates, forecast economic
     ekonomi dan KKE, adalah estmasi signifikan.                      conditions and ECLs, is a significant estimate. The
     Jumlah KKE sensitif terhadap perubahan keadaan                   amount of ECLs is sensitive to changes in
     dan prakiraan kondisi ekonomi. Kerugian kredit                   circumstances and of forecast economic conditions.
     historis Kelompok Usaha dan perkiraan kondisi                    The Group’s historical observed loss rate and
     ekonomi mungkin tidak mewakili tingkat gagal bayar               forecast of economic conditions may not be
     pelanggan aktual di masa depan.                                  representative of customer’s actual default in the
                                                                      future.

     Penyisihan atas penurunan nilai piutang plasma                   Allowance for impairment of plasma receivables

     Seperti diungkapkan dalam Catatan 2n, piutang                    As discussed in Note 2n, plasma receivables
     plasma merupakan biaya-biaya yang dikeluarkan                    represents disbursements made for the costs to
     untuk pengembangan perkebunan plasma.                            develop plasma plantations.

     Kelompok Usaha menetapkan estimasi penyisihan                    The Group estimates allowance for impairment of
     penurunan      nilai piutang plasma   dengan                     plasma receivables using general approach of ECL
     menggunakan pendekatan umum KKE karena                           as these receivables contain significant financing
     piutang ini mengandung komponen pembiayaan                       component.
     yang signifikan.

     Jika belum ada peningkatan risiko kredit yang                    When there has not been significant increase in
     signifikan sejak awal kontrak, penyisihan didasarkan             credit risk since origination, the allowance is based
     pada KKE 12 bulan. Kelompok Usaha menetapkan                     on the 12-months’ ECL. The Group primarily
     piutang dari masing-masing proyek plasma                         determined a receivable from individual plasma
     mengalami peningkatan risiko kredit yang signifikan              project has significant increase in credit risk when
     ketika biaya pengembangan aktual per hektar                      the actual development cost per hectare is
     melebihi biaya pengembangan per hektar yang                      exceeding the agreed development cost per hectare
     disepakati dalam perjanjian kredit antara koperasi               as stated in the credit agreement between the
     dan kreditur. Pada titik ini, Kelompok Usaha                     cooperatives and the creditor. At this point, the
     menetapkan estimasi kerugian penurunan nilai                     Group estimates the impairment loss using lifetime
     menggunakan KKE sepanjang umurnya.                               ECLs.




                                                            55




                                                                                                                                                   343
                                                                                                        PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                              Laporan Tahunan 2023 Annual Report
Page 344
                                                                                            The original consolidated financial statements included herein
                                                                                                                          are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                   financial statements
                                    Tanggal 31 Desember 2023                                            As of December 31, 2023
                                   dan untuk tahun yang berakhir                                        and for year then ended
                                       pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                                      kecuali dinyatakan lain)


                      3.    PERTIMBANGAN, ESTIMASI               DAN     ASUMSI            3.   SIGNIFICANT  ACCOUNTING    JUDGMENTS,
                            YANG SIGNIFIKAN (lanjutan)                                          ESTIMATES AND ASSUMPTIONS (continued)

                            Estimasi dan asumsi (lanjutan)                                      Estimates and assumptions (continued)

                            Penyisihan atas penurunan nilai piutang plasma                      Allowance for impairment of plasma receivables
                            (lanjutan)                                                          (continued)

                            Kelompok Usaha menghitung KKE sepanjang                             The Group calculates lifetime ECL based on the
                            umurnya berdasarkan perkiraan kekurangan kas,                       expected cash shortfalls, discounted at an
                            didiskontokan dengan perkiraan SBE awal.                            approximation of the original EIR. A cash shortfall is
                            Kekurangan kas adalah selisih antara arus kas yang                  the difference between the cash flows that are due
                            menjadi hak Kelompok Usaha sesuai kontrak dan                       to the Group in accordance with the contract and the
                            arus kas yang diharapkan akan diterima Kelompok                     cash flows that the Group expects to receive, which
                            Usaha, yang diestimasi berdasarkan pendapatan                       is estimated based on the revenues from the plasma
                            dari perkebunan plasma dikurangi biaya penjualan.                   plantations deducted with the costs of sales,
                            pembayaran pokok dan bunga ke bank. Input utama                     principal and interest payments to the bank. The key
                            yang digunakan untuk estimasi ini adalah harga jual                 inputs applied for this estimation are the selling price
                            TBS, hasil produksi perkebunan plasma, biaya                        of FFB, production yield of the plasma plantations,
                            produksi dan tingkat inflasi. Penyisihan ini dievaluasi             production costs and inflation rate. These provisions
                            ulang dan disesuaikan dengan tambahan informasi                     are re-evaluated and adjusted as additional
                            yang diterima pada setiap tanggal pelaporan.                        information is received at each reporting date.

                            Penyisihan atas penurunan          nilai   pasar   dan              Allowance for declining in market value and
                            keusangan persediaan                                                obsolescence of inventories

                            Penyisihan atas penurunan nilai pasar dan                           Allowance for declining in market value and
                            keusangan persediaan diestimasi berdasarkan fakta                   obsolescence of inventories is estimated based on
                            dan situasi yang tersedia, termasuk namun tidak                     available facts and circumstances, including but not
                            terbatas kepada, kondisi fisik persediaan yang                      limited to, the inventories’ own physical conditions,
                            dimiliki, harga jual pasar, estimasi biaya                          their market selling prices, estimated costs of
                            penyelesaian dan estimasi biaya yang timbul untuk                   completion and estimated costs to be incurred for
                            penjualan. Penyisihan dievaluasi kembali dan                        their sales. The allowances are reevaluated and
                            disesuaikan jika terdapat tambahan informasi yang                   adjusted as additional information received affects
                            mempengaruhi jumlah yang diestimasi. Penjelasan                     the amount estimated. Further details are disclosed
                            lebih rinci diungkapkan dalam Catatan 8.                            in Note 8.

                            Aset pajak tangguhan                                                Deferred tax assets

                            Aset pajak tangguhan diakui atas seluruh                            Deferred tax assets are recognised for all deductible
                            perbedaan temporer yang dapat dikurangkan,                          temporary differences, to the extent that it is
                            sepanjang     besar    kemungkinannya     bahwa                     probable that taxable profit will be available against
                            penghasilan kena pajak akan tersedia sehingga                       which the deductible temporary differences.
                            perbedaan temporer tersebut dapat digunakan.                        Significant management estimates are required to
                            Estimasi signifikan oleh manajemen disyaratkan                      determine the amount of deferred tax assets that
                            dalam menentukan total aset pajak tangguhan yang                    can be recognised, based upon the likely timing and
                            dapat diakui, berdasarkan saat penggunaan dan                       the level of future taxable profits together with future
                            tingkat penghasilan kena pajak serta strategi                       tax planning strategies. Further details are disclosed
                            perencanaan pajak masa depan. Penjelasan lebih                      in Note 20.
                            rinci diungkapkan dalam Catatan 20.




                                                                                      56




344 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 345
                                                                    The original consolidated financial statements included herein
                                                                                                  are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                  financial statements
             Tanggal 31 Desember 2023                                           As of December 31, 2023
            dan untuk tahun yang berakhir                                       and for year then ended
                pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
               kecuali dinyatakan lain)


3.   PERTIMBANGAN, ESTIMASI               DAN     ASUMSI           3.   SIGNIFICANT  ACCOUNTING    JUDGMENTS,
     YANG SIGNIFIKAN (lanjutan)                                         ESTIMATES AND ASSUMPTIONS (continued)
     Estimasi dan asumsi (lanjutan)                                     Estimates and assumptions (continued)
     Penurunan nilai aset non-keuangan                                  Impairment of non-financial assets
     Penurunan nilai muncul saat nilai tercatat aset atau               An impairment exists when the carrying value of an
     Unit Penghasil Kas (“UPK”) melebihi nilai                          asset or Cash Generating Unit (“CGU”) exceeds its
     terpulihkannya, yaitu yang lebih besar antara nilai                recoverable amount, which is the higher of its fair
     wajar dikurangi biaya untuk menjual dan nilai                      value less costs to sell and its value in use. The fair
     pakainya. Nilai wajar dikurangi biaya untuk menjual                value less costs to sell calculation is based on
     didasarkan pada ketersediaan data dari perjanjian                  available data from binding sales transactions in an
     penjualan yang mengikat yang dibuat dalam                          arm’s length transaction of similar assets or
     transaksi normal atas aset serupa atau harga pasar                 observable market prices less incremental costs for
     yang dapat diamati dikurangi dengan biaya                          disposing the asset.
     tambahan yang dapat diatribusikan dengan
     pelepasan aset.
     Dalam menentukan nilai wajar dikurangi biaya                       In determining fair value less costs to sell, recent
     untuk menjual, digunakan harga penawaran pasar                     market transactions are taken into account, if
     terakhir, jika tersedia. Jika tidak terdapat transaksi             available. If no such transactions can be identified,
     tersebut, Kelompok Usaha menggunakan model                         an appropriate valuation model is used to determine
     penilaian yang sesuai untuk menentukan nilai wajar                 the fair value of the assets. These calculations are
     aset. Perhitungan-perhitungan ini dipadukan                        corroborated by valuation multiples or other
     dengan penilaian berganda atau indikator nilai                     available fair value indicators. The value in use
     wajar yang tersedia. Perhitungan nilai pakai                       calculation is based on a discounted cash flow
     didasarkan pada model arus kas yang                                model.
     didiskontokan.
     Perhitungan nilai pakai didasarkan pada model arus                 The value in use calculation is based on a
     kas yang didiskontokan. Proyeksi arus kas tidak                    discounted cash flow model. The future cash flow
     termasuk aktivitas restrukturisasi yang belum ada                  projection does not include restructuring activities
     perikatannya atau investasi signifikan di masa                     that the not yet committed to or significant future
     depan yang akan meningkatkan kinerja dari UPK                      investments that will enhance the asset’s
     yang diuji. Nilai terpulihkan paling sensitif terhadap             performance of the CGU being tested. The
     tingkat diskonto yang digunakan untuk model arus                   recoverable amount is most sensitive to the discount
     kas yang didiskontokan seperti halnya dengan arus                  rate used for the discounted cash flow model as well
     kas masuk masa depan yang diharapkan dan                           as the expected future cash inflows and the growth
     tingkat pertumbuhan yang digunakan untuk tujuan                    rate used for extrapolation purposes.
     ekstrapolasi.


4.   KOMBINASI BISNIS ENTITAS SEPENGENDALI                         4.   BUSINESS COMBINATION OF ENTITIES UNDER
                                                                        COMMON CONTROL

     Pada tanggal 19 Desember 2023, Perseroan telah                     On December 19, 2023, the Company acquired
     mengakuisisi 52,6% kepemilikan saham di CBUT                       52.6% shares ownership in CBUT from CBI, a
     dari CBI, salah satu pemegang saham, dengan                        shareholder, for Rp3,451,309,583 as stated in the
     menukarkan pinjaman Perseroan kepada CBI                           Notarial Deed No. 59 of Aulia Taufani, S.H., dated
     senilai Rp3.451.309.583 sebagaimana dinyatakan                     December 19, 2023. After the debt-to-equity swab,
     dalam Akta No. 59 Notaris Aulia Taufani, S.H.,                     the Group has 78.22% share ownership in CBUT.
     tanggal 19 Desember 2023. Setelah penukaran
     saham tersebut, Kelompok Usaha memiliki 78,22%
     saham di CBUT.




                                                              57




                                                                                                                                                     345
                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                Laporan Tahunan 2023 Annual Report
Page 346
                                                                                                       The original consolidated financial statements included herein
                                                                                                                                     are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                                  PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                             AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                    Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                                financial statements
                                      Tanggal 31 Desember 2023                                                         As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                     and for year then ended
                                         pada tanggal tersebut                                                    (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                    unless otherwise stated)
                                        kecuali dinyatakan lain)


                      4. KOMBINASI BISNIS ENTITAS SEPENGENDALI                                        4.     BUSINESS COMBINATION OF ENTITIES UNDER
                         (lanjutan)                                                                          COMMON CONTROL (continued)

                           Transaksi akuisisi tersebut diklasifikasikan sebagai                              That acquisition transaction is classified as a
                           transaksi bisnis dengan entitas sepengendali                                      business combination of entities under common
                           sehingga transaksi tersebut dicatat dengan                                        control so that the transaction is recorded using the
                           menggunakan metode ”pooling interest” sesuai                                      "pooling interest" method in accordance with
                           dengan PSAK 38 “Kombinasi Bisnis Entitas                                          Statements of PSAK 38, "Business Combinations
                           Sepengendali”. Selisih harga pengalihan dengan nilai                              Entities Under Common Control". The Difference
                           buku sebesar Rp3.392.469.514 dicatat sebagai                                      between transfer price and book value amounted to
                           bagian dari "Tambahan Modal Disetor" yang disajikan                               Rp3,392,469,514 was recorded as part of
                           pada bagian ekuitas dari laporan posisi keuangan                                  "Additional Paid-in Capital" under the equity section
                           konsolidasian (Catatan 27).                                                       of the consolidated statement of financial position
                                                                                                             (Note 27).

                           Kelompok Usaha menyajikan kembali kaporan                                         The Group restated its consolidated financial
                           keuangan konsolidasiannya tanggal 31 Desember                                     statements as of December 31, 2022, and
                           2022, dan 1 Januari 2022/31 Desember 2021 serta                                   January 1, 2022/December 31, 2021 and for the
                           untuk tahun yang berakhir pada 31 Desember 2022,                                  years ended December 31, 2022, due to the
                           sehubungan dengan akuisisi bisnis dari entitas                                    acquisition of business of entities under common
                           sepengendali yang dicatat sesuai dengan PSAK 38                                   control which was recorded according to PSAK 38
                           “Kombinasi Bisnis Entitas Sepengendali”                                           “Business Combination of Entities Under Common
                                                                                                             Control”.

                           Laporan Posisi Keuangan Konsolidasian                                             Consolidated Statement of Financial Position

                                                                   Untuk tahun yang berakhir              Untuk tahun yang berakhir
                                                               pada tanggal 31 Desember 2022/         pada tanggal 31 Desember 2021/
                                                             For the year ended December 31, 2022   For the year ended December 31, 2021

                                                                Disajikan                              Disajikan
                                                              sebelumnya/          Disajikan         sebelumnya/           Disajikan
                                                              As previously        kembali/          As previously         kembali/
                                                               Presented          As restated         Presented           As restated


                          Aset                                                                                                                                    Assets

                          ASET LANCAR                                                                                                               CURRENT ASSETS
                          Kas dan setara kas                      946.867.315      1.806.836.518       1.833.309.895      1.984.947.384       Cash and cash equivalents
                          Piutang Usaha                                                                                                                Trade receivables
                             Pihak berelasi                       936.919.297        443.821.465           447.962.561      299.476.937                Related parties
                             Pihak ketiga                           8.811.034        414.432.549             5.519.935       93.588.363                   Third parties
                          Piutang lain-lain                                                                                                             Other receivables
                             Pihak berelasi                       197.469.692        251.958.578           209.039.849      536.798.313                Related parties
                             Pihak ketiga                          14.936.699         23.110.194             5.524.391       31.562.115                   Third parties
                          Persediaan                              448.135.065        884.844.829           352.610.739      758.436.435                        Inventories
                          Aset biologis                           225.042.572        225.042.572           361.255.612      361.255.612                  Biological assets
                          Biaya dibayar dimuka                      1.884.580          2.267.640             2.429.493        2.680.493                      Prepayments
                          Uang muka                                                                                                                             Advances
                             Pihak ketiga                                   -        142.038.917            24.726.295      262.899.139                   Third parties
                             Pihak berelasi                        16.066.977         15.222.059            16.529.060       24.726.295                Related parties
                          Pinjaman kepada pihak berelasi                    -        285.451.862                     -                             Loan to related parties
                          Taksiran tagihan restitusi pajak                  -                  -                     -       27.880.622     Estimated claim for tax refund
                             jangka pendek                                                                                                                      current
                          Pajak dibayar dimuka                     85.679.558        143.928.450           241.639.955      251.571.082                     Prepaid taxes

                          TOTAL ASET LANCAR                     2.881.812.789      4.638.955.633       3.500.547.785      4.635.822.790      TOTAL CURRENT ASSETS




                                                                                            58




346 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 347
                                                                                    The original consolidated financial statements included herein
                                                                                                                  are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                                         PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                                    AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                                           Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                                       financial statements
            Tanggal 31 Desember 2023                                                                As of December 31, 2023
           dan untuk tahun yang berakhir                                                            and for year then ended
               pada tanggal tersebut                                                           (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                                           unless otherwise stated)
              kecuali dinyatakan lain)


4. KOMBINASI BISNIS ENTITAS SEPENGENDALI                                           4.     BUSINESS COMBINATION OF ENTITIES UNDER
   (lanjutan)                                                                             COMMON CONTROL (continued)

  Laporan Posisi Keuangan Konsolidasian                                                    Consolidated Statement of Financial Position
  (lanjutan)                                                                               (continued)
                                               Untuk tahun yang berakhir               Untuk tahun yang berakhir
                                           pada tanggal 31 Desember 2022/          pada tanggal 31 Desember 2021/
                                         For the year ended December 31, 2022    For the year ended December 31, 2021

                                            Disajikan                               Disajikan
                                          sebelumnya/          Disajikan          sebelumnya/           Disajikan
                                          As previously        kembali/           As previously         kembali/
                                           Presented          As restated          Presented           As restated

  ASET TIDAK LANCAR                                                                                                              NON-CURRENT ASSETS
  Taksiran tagihan restitusi pajak             65.061.177         65.061.177             49.318.910       49.318.910         Estimated claims for tax refund
  Piutang lain-lain jangka panjang                                                                                             Long-term other receivables
     kepada pihak berelasi                                -                  -           87.030.280                  -                 to a related party
  Pinjaman jangka panjang kepada
     pemegang saham yang dapat                                                                                                   Long-term convertible loan
     dikonversi                             3.611.628.886        160.319.303        3.344.775.039                    -                  to a shareholder
  Aset tetap dan tanaman
     produktif, neto                        4.424.183.345      4.843.130.081        4.400.724.564      4.815.583.112     Fixed assets and bearer plants, net
  Aset takberwujud - neto                       9.707.799          9.707.799           11.325.090         11.325.090                  Intangible assets - net
  Aset hak guna - neto                         17.415.656         17.415.656            9.294.793          9.294.793                Right-of-use assets - net
  Investasi saham pada                                                                                                               Investment in shares of
     Perseroan asosiasi                     2.230.480.006        645.231.496        1.950.631.369        682.582.231               associated companies
  Aset pajak tangguhan - neto                 109.599.658        110.222.141           88.475.362         89.438.779                Deferred tax assets - net
  Piutang plasma                                                                                                                         Plasma receivables
     Setelah dikurangi dengan                                                                                                            after net off with
     penyisihan penurunan nilai               505.537.041        505.537.041            381.673.661      381.673.661            allowance for impairment
  Aset tidak lancar lainnya                   114.277.766        141.329.473             26.813.223       30.292.052                Other non-current assets

  TOTAL ASET TIDAK LANCAR                  11.087.891.334      6.497.954.167       10.350.062.291      6.069.508.628     TOTAL NON-CURRENT ASSETS

  TOTAL ASET                               13.969.704.123     11.136.909.800       13.850.610.076     10.705.331.418                        TOTAL ASSETS

  LIABILITAS DAN EKUITAS                                                                                                        LIABILITIES AND EQUITY

  LIABILITAS JANGKA PENDEK                                                                                                         CURRENT LIABILITIES
  Utang usaha                                                                                                                                Trade payables
     Pihak ketiga                              97.117.254        138.796.191            143.001.447      203.965.554                          Third parties
     Pihak berelasi                            44.885.089         83.851.336             53.275.837      114.162.204                       Related parties
  Pendapatan diterima dimuka                                                                                                              Unearned revenue
     Pihak ketiga                                       -        149.626.134              1.069.593        1.152.093                          Third parties
     Pihak berelasi                             5.448.223                  -              1.941.000                -                       Related parties
  Utang pajak                                 152.431.758        197.832.901            219.074.938      237.383.571                           Taxes payable
  Beban akrual                                 77.935.776        116.654.531            187.558.953      235.087.386                      Accrued expenses
  Utang lain-lain                                                                                                                             Other payables
     Pihak ketiga                             826.293.215        837.369.242            445.292.457      456.162.511                          Third parties
     Pihak berelasi                            12.103.587         13.432.293             11.535.232       15.396.022                       Related parties
  Liabilitas sewa jangka pendek                 1.207.710          1.207.710              1.207.710        1.207.710              Short-term lease liabilities
  Liabilitas sewa pembiayaan                                                                                                             Current maturities of
     jatuh tempo dalam satu tahun                 665.000            665.000               665.000           665.000               finance lease liabilites
  Utang obligasi, neto                        633.067.305        633.067.305                     -                                        Bonds payable, net
  Liabilitas imbalan kerja                                                                                                               Current maturities of
     karyawan jangka pendek                   168.957.712        169.022.031            142.669.897      142.876.597               finance lease liabilites
  Utang bank jangka pendek                              -        973.981.690                      -      968.978.400                    Short-term bank loan
  Utang bank jangka panjang                                                                                                              Current maturities of
     jatuh tempo dalam satu tahun             769.063.969        856.786.228            256.645.508      328.000.896                  long-term bank loan

  TOTAL LIABILITAS
    JANGKA PENDEK                           2.789.176.598      4.172.292.592        1.463.937.572      2.705.037.944       TOTAL CURRENT LIABILITIES


     LIABILITAS JANGKA PANJANG                                                                                                NON-CURRENT LIABILITIES
     Utang bank jangka panjang -
        setelah dikurangi bagian jatuh                                                                                                  Long-term bank loan
        tempo dalam satu tahun              4.506.812.389      4.686.503.481        1.755.124.212      2.014.539.472            - net of current maturities
     Utang obligasi, neto                               -                  -        4.247.062.364      4.247.062.364                      Bonds payable, net
     Liabilitas sewa jangka panjang            10.120.456         10.120.456            9.709.596          9.709.596               Long-term lease liabilities
     Liabilitas sewa pembiayaan                         -                  -              665.000            665.000                 Finance lease liabilities
     Liabilitas imbalan kerja                                                                                                           Long-term employee
        jangka panjang                        151.868.700        155.732.232            187.131.767      193.162.215                     benefits liabilities
     Liabilitas pajak tangguhan - neto         67.757.148         67.757.148             79.471.800       79.471.800           Deferred taxes liabilities - net

     TOTAL LIABILITAS                                                                                                              TOTAL NON-CURRENT
       JANGKA PANJANG                       4.736.558.693      4.920.113.317        6.279.164.739      6.544.610.447                      LIABILITIES

     JUMLAH LIABILITAS                      7.525.735.291      9.092.405.909        7.743.102.311      9.249.648.391                   TOTAL LIABILITIES




                                                                        59




                                                                                                                                                                             347
                                                                                                                                PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                        Laporan Tahunan 2023 Annual Report
Page 348
                                                                                                             The original consolidated financial statements included herein
                                                                                                                                           are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                                          PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                                     AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                            Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                                        financial statements
                                    Tanggal 31 Desember 2023                                                                 As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                             and for year then ended
                                       pada tanggal tersebut                                                            (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                            unless otherwise stated)
                                      kecuali dinyatakan lain)


                      4. KOMBINASI BISNIS ENTITAS SEPENGENDALI                                              4.     BUSINESS COMBINATION OF ENTITIES UNDER
                         (lanjutan)                                                                                COMMON CONTROL (continued)

                           Laporan Posisi Keuangan Konsolidasian                                                    Consolidated Statement of Financial Position
                           (lanjutan)                                                                               (continued)
                                                                       Untuk tahun yang berakhir                Untuk tahun yang berakhir
                                                                   pada tanggal 31 Desember 2022/           pada tanggal 31 Desember 2021/
                                                                 For the year ended December 31, 2022     For the year ended December 31, 2021

                                                                    Disajikan                                Disajikan
                                                                  sebelumnya/            Disajikan         sebelumnya/           Disajikan
                                                                  As previously          kembali/          As previously         kembali/
                                                                   Presented            As restated         Presented           As restated


                             EKUITAS                                                                                                                                           EQUITY
                             Modal saham                              952.500.000         952.500.000            952.500.000      952.500.000                            Share Capital
                             Tambahan modal disetor                   540.919.171         540.919.171            540.919.171      540.919.171                 Additional paid-in capital
                             Selisih transaksi dengan pihak                                                                                             Difference in transactions with
                                non-pengendali                         89.113.603          89.113.603             89.113.603       89.113.603                non-controlling parties
                             Saldo laba                                                                                                                             Retained earnings
                                Sudah ditentukan penggunaannya        970.536.918          970.536.918         665.162.743         665.162.743                         Appropriated
                                Belum ditentukan penggunaannya      3.616.933.978        3.616.933.978       3.559.342.294       3.559.342.294                      Unappropriated
                             Penghasilan komprehensif lain            545.353.071          545.353.071         577.572.471         577.572.471          Other comprehensive income
                             Komponen ekuitas lainnya                (309.619.637)        (309.619.637)       (309.619.637)       (309.619.637)             Other component of equity
                             Ekuitas merging entities                           -       (4.399.464.941)                  -      (4.651.824.738)                 Merging entities equity


                             Ekuitas yang dapat                                                                                                                   Equity attributable to
                               diatribusikan kepada                                                                                                                       owners of
                               pemilik entitas induk-neto           6.405.737.104        2.006.272.163       6.074.990.645       1.423.165.907                the parent entity - net
                             Kepentingan non-pengendali                38.231.728           38.231.728          32.517.120          32.517.120                 Non-controlling interest

                             JUMLAH EKUITAS                         6.443.968.832        2.044.503.891       6.107.507.765       1.455.683.027                        TOTAL EQUITY

                             JUMLAH LIABILITAS                                                                                                                   TOTAL LIABILITIES
                               DAN EKUITAS                         13.969.704.123       11.136.909.800      13.850.610.076      10.705.331.418                      AND EQUITY


                           Laporan Laba Rugi dan Penghasilan                                                        Consolidated Statement of Profit or Loss and
                           Komprehensif Lainnya                                                                     Other Comprehensive Income

                                                                                   Untuk tahun yang berakhir
                                                                               pada Tanggal 31 Desember 2022/
                                                                             For the year ended December 31, 2022

                                                                                Disajikan
                                                                              sebelumnya/                   Disajikan
                                                                              As previously                 kembali/
                                                                               Presented                   As restated

                          PENDAPATAN DARI KONTRAK                                                                                                   REVENUE FROM
                             DENGAN PELANGGAN                                      7.261.218.471           11.240.219.016           CONTRACTS WITH CUSTOMERS
                          BEBAN POKOK PENJUALAN                                   (4.292.199.717)          (6.935.789.797)                          COST OF SALES

                          LABA BRUTO                                              2.969.018.754              4.304.429.219                                     GROSS PROFIT

                          Beban penjualan                                            (215.514.657)          (1.054.835.672)                                   Selling expenses
                          Beban umum dan administrasi                                (680.724.843)            (767.982.550)             General and administrative expenses
                          Kerugian atas                                                                                                                  Loss from changes in
                              nilai wajar aset biologis                              (136.213.040)            (136.213.040)                fair value of biological assets
                          Pendapatan lain-lain, neto                                  328.736.235              280.457.303                                   Other income, net

                          LABA USAHA                                              2.265.302.449              2.625.855.260                              OPERATING PROFIT

                          Pendapatan keuangan                                         287.629.038               17.534.407                                      Finance income
                          Biaya keuangan                                             (557.213.813)            (641.352.765)                                       Finance costs
                            Bagian keuntungan/(kerugian)                                                                                          Equity in net income/(loss)
                               atas entitas asosiasi                                 279.848.637                 (37.350.735)                       of associates entities

                          LABA SEBELUM PAJAK                                                                                                  PROFIT BEFORE CORPORATE
                            PENGHASILAN BADAN                                     2.275.566.311              1.964.686.167                                INCOME TAX



                                                                                                 60




348 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 349
                                                                  The original consolidated financial statements included herein
                                                                                                are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                KONSOLIDASIAN                                                     financial statements
          Tanggal 31 Desember 2023                                              As of December 31, 2023
         dan untuk tahun yang berakhir                                          and for year then ended
             pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
            kecuali dinyatakan lain)


4. KOMBINASI BISNIS ENTITAS SEPENGENDALI                         4.     BUSINESS COMBINATION OF ENTITIES UNDER
   (lanjutan)                                                           COMMON CONTROL (continued)

  Laporan Laba Rugi dan Penghasilan                                     Consolidated Statement of Profit or Loss and
  Komprehensif Lainnya                                                  Other Comprehensive Income

                                                 Untuk tahun yang berakhir
                                             pada Tanggal 31 Desember 2022/
                                           For the year ended December 31, 2022

                                             Disajikan
                                           sebelumnya/            Disajikan
                                           As previously          kembali/
                                            Presented            As restated

  LABA SEBELUM PAJAK                                                                          PROFIT BEFORE CORPORATE
   PENGHASILAN BADAN (lanjutan)               2.275.566.311       1.964.686.167                  INCOME TAX (continued)
  PAJAK PENGHASILAN BADAN                      (427.447.333)       (489.764.327)                  CORPORATE INCOME TAX

  LABA TAHUN BERJALAN                         1.848.118.978       1.474.921.840                       PROFIT FOR THE YEAR

  Efek penyesuaian proforma                                -          373.197.138                 Effect of proforma adjustment

  LABA TAHUN BERJALAN                                                                      PROFIT FOR THE YEAR BEFORE
   SEBELUM EFEK                                                                                            EFFECT OF
   PENYESUAIAN PROFORMA                       1.848.118.978       1.848.118.978               PROFORMA ADJUSTMENT

  PENGHASILAN KOMPREHENSIF                                                                         OTHER COMPREHENSIVE
   LAIN, SETELAH PAJAK                                                                               INCOME, NET OF TAX

  Pos yang tidak akan                                                                                       Item that will not be
   direklasifikasi ke laba rugi                                                                 reclassified to profit or loss
   Pengukuran kembali                                                                                         Remeasurements
   (kerugian)/keuntungan atas liabilitas                                                              (loss)/gain on liability for
      imbalan kerja                             (25.367.085)          (25.037.369)                        employee benefits
   Selisih kurs                                                                                 Difference in foreign currency
      penjabaran laporan keuangan                          -           42.907.618        translation of financial statements

                                                (25.367.085)           17.870.249
  TOTAL LABA KOMPREHENSIF                                                                           TOTAL COMPREHENSIVE
   TAHUN BERJALAN                             1.822.751.893       1.865.989.227                    INCOME FOR THE YEAR
  Efek penyesuaian proforma atas                                                                  Effect of proforma adjustment
   Penghasilan/(rugi) komprehensif lain                    -          (43.237.334)   from other comprehensive income/(loss)

  TOTAL LABA KOMPREHENSIF                                                                       TOTAL COMPREHENSIVE
   TAHUN BERJALAN SETELAH                                                                 INCOME FOR THE YEAR AFTER
   PENYESUAIAN PROFORMA                       1.822.751.893       1.822.751.893               PROFORMA ADJUSTMENT

  Laba tahun berjalan                                                                                        Profit for the year
   diatribusikan kepada:                                                                                      attributable to:
   Pemilik entitas induk                      1.837.375.968       1.837.375.968                   Owners of the parent entity
   Kepentingan non pengendali                    10.743.010          10.743.010                     Non-controlling interests

                                              1.848.118.978       1.848.118.978

  Laba komprehensif tahun berjalan                                                                Total comprehensive income
   yang diatribusikan kepada:                                                                                 attributable to:
   Pemilik entitas induk                      1.814.036.666       1.814.036.666                   Owners of the parent entity
   Kepentingan non pengendali                     8.715.227           8.715.227                     Non-controlling interests

                                              1.822.751.893       1.822.751.893

  Laba per saham (nilai penuh)                       192,90               192,90             earnings per share (full amount)




                                                           61




                                                                                                                                                      349
                                                                                                           PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                 Laporan Tahunan 2023 Annual Report
Page 350
                                                                                            The original consolidated financial statements included herein
                                                                                                                          are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                     financial statements
                                    Tanggal 31 Desember 2023                                              As of December 31, 2023
                                   dan untuk tahun yang berakhir                                          and for year then ended
                                       pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
                                      kecuali dinyatakan lain)


                      4. KOMBINASI BISNIS ENTITAS SEPENGENDALI                             4.     BUSINESS COMBINATION OF ENTITIES UNDER
                         (lanjutan)                                                               COMMON CONTROL (continued)
                         Laporan Arus Kas Konsolidasian                                           Consolidated Statement of Cash Flow

                                                                           Untuk tahun yang berakhir
                                                                       pada Tanggal 31 Desember 2022/
                                                                     For the year ended December 31, 2022

                                                                       Disajikan
                                                                     sebelumnya/            Disajikan
                                                                     As previously          kembali/
                                                                      Presented            As restated

                          Arus Kas dari Aktivitas                                                                                    Cash Flows from
                            Operasi                                                                                             Operating Activities
                          Penerimaan kas dari pelanggan                 6.661.410.462      10.923.504.342                 Cash receipts from customers
                          Pembayaran kas kepada pemasok                (3.309.532.148)     (6.893.971.949)                       Cash paid to suppliers
                          Pembayaran kas kepada karyawan                 (975.795.792)     (1.043.884.585)                 Cash payments to employee

                          Kas yang diperoleh dari                                                                                     Cash provided by
                            aktivitas operasi                           2.376.082.522       2.985.647.808                          operating activities

                          Penghasilan bunga yang diterima                  14.331.937          17.534.407                     Interest income received
                          Biaya keuangan yang dibayar                    (630.493.894)       (487.018.591)                          Finance costs paid
                          Pembayaran pajak penghasilan badan             (320.797.936)       (545.699.596)             Payments oforporate income tax
                          Penerimaan dari restitusi pajak                                                             Cash received from tax restitution
                            dan imbalan bunga                              17.088.442           471.842.634                  and tax interest rewards

                          Kas Neto yang Diperoleh                                                                               Net Cash Provided by
                            dari Aktivitas Operasi                      1.456.211.071       2.442.306.662                       Operating Activities

                          Arus Kas dari Aktivitas                                                                                     Cash Flows from
                            Investasi                                                                                            Investing Activities
                          Pemberian pinjaman kepada pihak berelasi        (33.593.042)       (445.771.165)         Cash paid for loans to related parties
                          Penerimaan dana dari pihak berelasi                       -         284.839.736            Cash received from related parties
                          Perolehan aset tetap                           (312.925.668)       (268.246.300)                   Acquisitions of fixed assets
                          Penambahan biaya pengembangan                                                                 Additional development cost of
                            plasma, neto                                  (85.785.556)       (123.863.380)                                plasma, net
                          Pembayaran untuk uang muka                                                                             Advances for purchase
                            pembelian aset tetap                          (66.566.058)       (143.548.433)                               of fixed asset
                          Perolehan tanaman berlum menghasilkan           (11.617.692)        (11.617.692)            Additions to immature plantations
                          Pembayaran aset tak berwujud                     (2.090.179)         (2.131.444)               Additions of intangible assets

                          Kas Neto yang Digunakan                                                                                    Net Cash used in
                            untuk Aktivitas Investasi                    (512.578.195)       (710.338.678)                       Investing Activities

                          Arus Kas dari Aktivitas                                                                                    Cash Flows from
                            Pendanaan                                                                                             Financing Activities
                          Bank loan:                                                                                                Cash receipts from:
                          - Pembayaran                                   (265.569.109)     (3.882.693.301)                             Repayments -
                          - Penerimaan                                  3.472.301.756       7.009.422.556                                 Proceeds -
                          Pembayaran utang sewa pembiayaan                   (665.000)           (665.000)          Payments of finance lease payables
                          Pembayaran liabilitas sewa                      (11.409.021)        (11.409.021)                Payments of lease liabilities
                          Pembayaran dividen kas                       (1.477.410.729)     (1.477.410.729)                         Dividends cash paid
                          Pembayaran utang obligasi                    (3.502.781.213)     (3.502.781.213)                   Payments of senior notes
                          Pembayaran upfront fee                          (46.500.000)        (46.500.000)                    Payments of upfront fee

                          Kas Neto yang Digunakan                                                                                   Net Cash Used in
                            untuk Aktivitas Pendanaan                  (1.832.033.316)     (1.912.036.708)                      Financing Activities




                                                                                     62




350 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 351
                                                                           The original consolidated financial statements included herein
                                                                                                         are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                             PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                        AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                               Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                           financial statements
            Tanggal 31 Desember 2023                                                    As of December 31, 2023
           dan untuk tahun yang berakhir                                                and for year then ended
               pada tanggal tersebut                                               (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                               unless otherwise stated)
              kecuali dinyatakan lain)


5.   KAS DAN SETARA KAS                                                   5.    CASH AND CASH EQUIVALENTS
                                                              Disajikan kembali - Catatan 4/
                                                                    As restated - Note 4

                                                                                 1 Januari 2022/
                                                                                 January 1, 2022/
                                       31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                       December 31, 2023   December 31, 2022    December 31, 2021

     Kas                                        503.011               454.917              436.514                          Cash on hand

     Bank                                                                                                                   Cash in banks
       Pihak ketiga                                                                                                        Third parties
          Dalam Rupiah                                                                                                       In Rupiah
          PT Bank Rakyat Indonesia                                                                          PT Bank Rakyat Indonesia
             (Persero) Tbk.                  156.173.173         138.572.281            83.440.823                    (Persero) Tbk.
          PT Bank Negara Indonesia                                                                          PT Bank Negara Indonesia
             (Persero) Tbk.                   21.674.867         141.447.020           239.326.021                    (Persero) Tbk.
          Standard Chartered Bank              3.670.291                   -                     -            Standard Chartered Bank
          PT Bank Mandiri (Persero) Tbk.       2.940.164          36.923.911             1.827.270      PT Bank Mandiri (Persero) Tbk.
          PT Bank Central Asia Tbk.              625.294             625.684                     -           PT Bank Central Asia Tbk.
          PT Bank Syariah Indonesia              427.510                   -                     -          PT Bank Syariah Indonesia
          PT Bank Maybank Tbk.                   118.950              20.209                     -              PT Bank Maybank Tbk.
          PT Bank Jtrust Indonesia Tbk.           28.323              43.033                     -       PT Bank Jtrust Indonesia Tbk.
          PT Bank Pembangunan Daerah                                                                    PT Bank Pembangunan Daerah
             Kalimantan Tengah                   24.510                26.485                  28.465            Kalimantan Tengah
          PT Bank Woori Saudara                                                                                PT Bank Woori Saudara
             Indonesia Tbk                          940                 1.000                       -                  Indonesia Tbk


                                             185.684.022         317.659.623           324.622.579
           Dalam Dolar AS                                                                                                   In US Dollar
           BNP Paribas Singapore              27.903.697          13.656.100             9.577.517              BNP Paribas Singapore
           PT Bank Negara Indonesia                                                                          PT Bank Negara Indonesia
              (Persero) Tbk.                   5.648.578         146.264.587            60.070.444                     (Persero) Tbk.
           PT Bank Maybank Tbk.                3.306.727              31.305                     -              PT Bank Maybank Tbk.
           PT Bank Rakyat Indonesia                                                                          PT Bank Rakyat Indonesia
              (Persero) Tbk.                   2.587.631           4.177.113         1.334.201.782                    (Persero) Tbk.
           Standard Chartered Bank             1.597.356                   -                     -            Standard Chartered Bank
           PT Bank Mandiri (Persero) Tbk.      1.100.663           2.432.809             2.218.351       PT Bank Mandiri (Persero) Tbk.
           PT Bank Woori Saudara                                                                               PT Bank Woori Saudara
              Indonesia Tbk                      15.356                15.731                       -                 Indonesia Tbk.
           PT Bank Jtrust Indonesia Tbk           2.778                 3.163                       -     PT Bank Jtrust Indonesia Tbk.

                                              42.162.786         166.580.808         1.406.068.094

                                             227.846.808         484.240.431         1.730.690.673

       Pihak berelasi (Catatan 34d)                                                                           Related party (Note 34d)
          Dalam Rupiah                                                                                                    In Rupiah
          PT Bank Perkreditan Rakyat                                                                     PT Bank Perkreditan Rakyat
          Lingga Sejahtera                    13.962.541           7.374.341            56.327.955                Lingga Sejahtera

                                             241.809.349         491.614.772         1.787.018.628




                                                                 63




                                                                                                                                                              351
                                                                                                                  PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                         Laporan Tahunan 2023 Annual Report
Page 352
                                                                                                      The original consolidated financial statements included herein
                                                                                                                                    are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                                PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                           AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                  Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                              financial statements
                                    Tanggal 31 Desember 2023                                                       As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                   and for year then ended
                                       pada tanggal tersebut                                                  (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                  unless otherwise stated)
                                      kecuali dinyatakan lain)


                      5.    KAS DAN SETARA KAS (lanjutan)                                            5.    CASH AND CASH EQUIVALENTS (contined)
                                                                                         Disajikan kembali - Catatan 4/
                                                                                              As restated - Note 4

                                                                                                            1 Januari 2022/
                                                                                                            January 1, 2022/
                                                                  31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                                                  December 31, 2023   December 31, 2022    December 31, 2021

                             Deposito berjangka                                                                                                       Time deposits
                               Pihak ketiga                                                                                                          Third parties
                                  Dalam Rupiah                                                                                                        In Rupiah
                                  PT Bank Rakyat Indonesia                                                                            PT Bank Rakyat Indonesia
                                     (Persero) Tbk.                     147.978.059         340.640.843            27.492.242                  (Persero) Tbk.
                                  PT Bank Negara Indonesia                                                                            PT Bank Negara Indonesia
                                     (Persero) Tbk.                      59.000.000         235.886.000             6.500.000                  (Persero) Tbk.

                                                                        206.978.059         576.526.843            33.992.242
                                   Dalam Dolar AS                                                                                                  In US Dollar
                                   PT Bank Rakyat Indonesia                                                                           PT Bank Rakyat Indonesia
                                     (Persero) Tbk.                               -         195.457.675                     -                  (Persero) Tbk.
                                   PT Bank Negara Indonesia                                                                           PT Bank Negara Indonesia
                                     (Persero) Tbk.                               -              157.311                    -                  (Persero) Tbk.

                                                                                  -         195.614.986                     -
                                   Pihak berelasi (Catatan 34d)                                                                         Related party (Note 34d)
                                   Dalam Rupiah                                                                                                        In Rupiah
                                   PT Bank Perkreditan Rakyat                                                                        PT Bank Perkreditan Rakyat
                                      Lingga Sejahtera                  788.000.000         542.625.000          163.500.000                 Lingga Sejahtera

                                                                        788.000.000         542.625.000          163.500.000

                                                                      1.237.290.419       1.806.836.518         1.984.947.384


                            Rekening di bank memiliki tingkat bunga                                        Accounts in banks earn interest at floating rates
                            mengambang sesuai dengan tingkat penawaran                                     based on the offered rate from each bank.
                            pada masing-masing bank.

                            Suku bunga tahunan deposito berkisar antara:                                   The time deposits bear annual interest rates ranging
                                                                                                           as follows:
                                                                                         Disajikan kembali - Catatan 4/
                                                                                              As restated - Note 4

                                                                                                            1 Januari 2022/
                                                                                                            January 1, 2022/
                                                                  31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                                                  December 31, 2023   December 31, 2022    December 31, 2021

                             Rupiah                                   0,95% - 6,50%       1,75% - 7,25%        1,75% - 8,01%                                Rupiah
                             Dolar Amerika Serikat                    3,10% - 3,70%       2,00% - 3,75%        0,05% - 0,15%                              US Dollar


                            Pada tanggal 31 Desember 2023, 2022, dan 2021,                                 As of December 31, 2023, 2022, and 2021, there is
                            tidak terdapat saldo kas dan setara kas yang                                   no balance of cash and cash equivalents which were
                            digunakan sebagai jaminan atau dibatasi                                        pledged as collateral and restricted in use.
                            penggunaannya.




                                                                                            64




352 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 353
                                                                         The original consolidated financial statements included herein
                                                                                                       are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                                  PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                             AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                                    Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                                financial statements
            Tanggal 31 Desember 2023                                                         As of December 31, 2023
           dan untuk tahun yang berakhir                                                     and for year then ended
               pada tanggal tersebut                                                    (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                                    unless otherwise stated)
              kecuali dinyatakan lain)


6.   PIUTANG USAHA - PIHAK KETIGA                                       6.           TRADE RECEIVABLES - THIRD PARTIES
                                                            Disajikan kembali - Catatan 4/
                                                                 As restated - Note 4

                                                                                      1 Januari 2022/
                                                                                      January 1, 2022/
                                     31 Desember 2023/   31 Desember 2022/           31 Desember 2021/
                                     December 31, 2023   December 31, 2022           December 31, 2021

      Piutang usaha - dalam Rupiah                                                                              Trade receivables - in Rupiah
      Koperasi Media Sejahtera Bersama      14.427.161           9.126.944                           -     Koperasi Media Sejahtera Bersama
      PT Dua Kuda Indonesia                 13.287.102          27.132.159                  23.016.211               PT Dua Kuda Indonesia
      PT Sino Zone Industry Indonesia        6.225.695          20.225.136                           -       PT Sino Zone Industry Indonesia
      PT Ecogreen Oleochemicals              3.787.532           2.416.612                   9.138.965           PT Ecogreen Oleochemicals
      PT Multi Usaha Abadi                   1.911.325          14.590.152                           -                 PT Multi Usaha Abadi
      PT Borneo Langgeng Sejahtera           1.339.932          75.789.897                           -        PT Borneo Langgeng Sejahtera
      PT Borneo Mitra Bersama Sejati                 -           1.853.385                           -       PT Borneo Mitra Bersama Sejati
      PT Prima Sukses Sejahtera Abadi        1.303.323           1.303.322                  10.000.943      PT Prima Sukses Sejahtera Abadi
      Lain-lain (jumlah masing-masing                                                                                     Others (individually
        kurang dari Rp5.000.000)              752.182            2.912.984                    578.912            each below Rp5,000,000)

      Piutang usaha - dalam Dolar AS                                                                         Trade receivables - in US Dollars
      Eco Comodity (Singapore) Pte. Ltd              -          77.112.087                           -      Eco Comodity (Singapore) Pte. Ltd
      Grands Oils & Foods (Singapore)                                                                        Grands Oils & Foods (Singapore)
        Pte. Ltd.                                    -         181.969.871                           -                             Pte. Ltd
      Grand Resouces Group (Singapore)                                                                     Grand Resouces Group (Singapore)
        Pte. Ltd.                                    -                           -          50.853.332                             Pte. Ltd

                                            43.034.252         414.432.549                  93.588.363


     Analisis umur piutang usaha - pihak ketiga adalah                               The aging analysis of trade receivables - third
     sebagai berikut:                                                                parties are as follows:

                                                            Disajikan kembali - Catatan 4/
                                                                    As restated - Note 4

                                                                                      1 Januari 2022/
                                                                                      January 1, 2022/
                                     31 Desember 2023/   31 Desember 2022/           31 Desember 2021/
                                     December 31, 2023   December 31, 2022           December 31, 2021

     Belum jatuh tempo                                                                                                                 Current
        (kurang dari 30 hari)                 675.187          414.432.549                  93.588.363                   (less than 30 days)
     Sudah jatuh tempo                                                                                                               Overdue
       (lebih dari 30 hari)                 42.359.065                       -                       -                  (more than 30 days)

                                            43.034.252         414.432.549                  93.588.363


     Piutang usaha - pihak ketiga merupakan piutang                                  Trade receivables - third parties represent
     atas penjualan minyak kelapa sawit, minyak inti                                 receivables from sales of crude palm oil, crude palm
     sawit, inti sawit, dan tandan buah segar.                                       kernel oil, palm kernel, and fresh fruit bunches.
     Berdasarkan penilaian atas kerugian kredit                                      Based on the assessment of expected credit losses
     ekspektasian atas saldo akun piutang usaha pada                                 on trade receivables at the end of the year,
     akhir tahun, manajemen berkeyakinan bahwa tidak                                 management believes that an allowance for
     diperlukan penyisihan penurunan nilai piutang                                   impairment of trade receivables is not considered
     usaha.                                                                          necessary.

     Pada tanggal 31 Desember 2023, 2022, dan 2021,                                  As of December 31, 2023, 2022, and 2021, the
     Perseroan dan entitas anak tertentu menjaminkan                                 Company and certain subsidiaries pledged trade
     piutang usaha sehubungan dengan fasilitas                                       receivables in relation with the syndicated loan
     pinjaman sindikasi (Catatan 22).                                                facility (Note 22).




                                                               65




                                                                                                                                                                 353
                                                                                                                      PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                            Laporan Tahunan 2023 Annual Report
Page 354
                                                                                                     The original consolidated financial statements included herein
                                                                                                                                   are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                                PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                           AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                  Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                              financial statements
                                    Tanggal 31 Desember 2023                                                       As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                   and for year then ended
                                       pada tanggal tersebut                                                  (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                  unless otherwise stated)
                                      kecuali dinyatakan lain)


                      7.    PIUTANG LAIN-LAIN - PIHAK KETIGA                                        7.     OTHER RECEIVABLES - THIRD PARTIES

                                                                                        Disajikan kembali - Catatan 4/
                                                                                             As restated - Note 4

                                                                                                            1 Januari 2022/
                                                                                                            January 1, 2022/
                                                                31 Desember 2023/    31 Desember 2022/     31 Desember 2021/
                                                                December 31, 2023    December 31, 2022     December 31, 2021

                             Piutang lain-lain - dalam Rupiah                                                                          Other receivables - in Rupiah
                             PT Sawit Mandiri Lestari                   8.038.876            8.038.876            17.728.834                PT Sawit Mandiri Lestari
                             PT Multi Usaha Abadi                         535.745            7.624.202             3.074.136                   PT Multi Usaha Abadi
                             PT Mitra Iswara & Rorimpandey                                           -             8.307.251         PT Mitra Iswara & Rorimpandey
                             Lain-lain (jumlah masing-masing                                                                                     Others (individually
                                kurang dari Rp5.000.000)                7.231.711            7.447.116             2.451.894            each below Rp5,000,000)

                                                                       15.806.332           23.110.194            31.562.115


                            Piutang lain-lain - pihak ketiga kepada PT Multi                               Other    receivables    -   third    parties   from
                            Usaha Abadi merupakan dana talangan pembelian                                  PT Multi Usaha Abadi mainly represents payment
                            Tandan Buah Segar.                                                             on behalf for purchasing Fresh Fruits Bunches.

                            Berdasarkan penilaian atas kerugian kredit                                     Based on the assessment of expected credit losses
                            ekspektasian atas saldo akun piutang lain-lain pada                            on other receivables at the end of the year,
                            akhir tahun, manajemen berkeyakinan bahwa tidak                                management believes that an allowance for
                            diperlukan penyisihan penurunan nilai piutang lain-                            impairment of other receivables is not considered
                            lain.                                                                          necessary.

                      8.    PERSEDIAAN, NETO                                                        8.     INVENTORIES, NET
                                                                                        Disajikan kembali - Catatan 4/
                                                                                             As restated - Note 4

                                                                                                            1 Januari 2022/
                                                                                                            January 1, 2022/
                                                                31 Desember 2023/    31 Desember 2022/     31 Desember 2021/
                                                                December 31, 2023    December 31, 2022     December 31, 2021

                             Persediaan komoditas:                                                                                           Commodity inventories:
                             RBD palm stearin                         211.351.604          152.558.042            91.089.750                       RBD palm stearin
                             RBD palm olein                           168.812.867           56.273.836            91.840.733                        RBD palm olein
                             Minyak kelapa sawit                       81.709.936           75.518.935           126.882.947                          Crude palm oil
                             Palm fatty acid distillate                21.005.960           65.500.924            66.623.985                 Palm fatty acid distillate
                             Minyak inti sawit                         20.197.761           35.656.434            26.403.368                   Crude palm kernel oil
                             Inti sawit                                19.193.054            9.606.805            37.374.107                             Palm kernel
                             Refined bleached deodorized palm oil      18.086.345           23.982.597            13.782.439    Refined bleached deodorized palm oil
                             Palm kernel expeller                       2.751.022              184.990                 4.306                    Palm kernel expeller
                             Pillow pack                                  189.686           12.824.221                     -                             Pillow pack

                                                                      543.298.235          432.106.784           454.001.635
                             Persediaan non-komoditas:                                                                                    Non-commodity inventories:
                             Bibit                                      3.353.851           19.369.044            25.584.019                                 Nursery
                             Bahan, suku cadang dan                                                                                        Materials, spare parts and
                                perlengkapan perawatan                225.446.160          379.270.189           278.850.781                 maintenance supplies

                                                                      228.800.011          398.639.233           304.434.800

                             Persediaan dalam perjalanan               88.102.903           60.283.595                     -                        Materials in transit

                                                                      860.201.149          891.029.612           758.436.435

                             Penyisihan atas                                                                                                             Allowance for
                               penurunan nilai persediaan             (68.571.093)           (6.184.783)                   -          declining in value of inventories

                             Total                                    791.630.056          884.844.829           758.436.435                                      Total




                                                                                           66




354 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 355
                                                                          The original consolidated financial statements included herein
                                                                                                        are in the Indonesian language.

         PT SAWIT SUMBERMAS SARANA Tbk.                                                PT SAWIT SUMBERMAS SARANA Tbk.
               DAN ENTITAS ANAKNYA                                                           AND ITS SUBSIDIARIES
            Catatan atas Laporan Keuangan                                                  Notes to the CONSOLIDATED
                    KONSOLIDASIAN                                                              financial statements
              Tanggal 31 Desember 2023                                                       As of December 31, 2023
             dan untuk tahun yang berakhir                                                   and for year then ended
                 pada tanggal tersebut                                                  (Expressed in thousands of Rupiah,
            (Disajikan dalam ribuan Rupiah,                                                  unless otherwise stated)
                kecuali dinyatakan lain)


8. PERSEDIAAN, NETO (lanjutan)                                          8.           INVENTORIES, NET (continued)

     Mutasi atas penyisihan penurunan nilai persediaan                               Movements in the allowance for declining in value
     adalah sebagai berikut:                                                         of inventories are as follows:

                                                           Disajikan kembali - Catatan 4/
                                                                     As restated - Note 4

                                                                                      1 Januari 2022/
                                                                                      January 1, 2022/
                                    31 Desember 2023/    31 Desember 2022/           31 Desember 2021/
                                    December 31, 2023    December 31, 2022           December 31, 2021

     Saldo awal                             6.184.783                            -           1.188.459                       Beginning Balance
     Pemulihan penyisihan atas                                                                                        Reversal of allowance for
       penurunan nilai persediaan                                                                            declining in value of inventories
       (Catatan 31)                        (6.184.783)                       -              (1.188.459)                              (Note 31)
     Tambahan penyisihan atas                                                                                        Additions of allowance for
       penurunan nilai persediaan                                                                            declining in value of inventories
       (Catatan 31)                        68.571.093             6.184.783                          -                               (Note 31)

                                           68.571.093             6.184.783                          -


     Pada tanggal 31 Desember 2023, Kelompok Usaha                                   As of December 31, 2023, the Group covered stock
     mengasuransikan persediaan minyak kelapa sawit,                                 of crude palm oil, crude palm kernel oil, palm kernel,
     minyak inti sawit, inti sawit, pupuk, dan bahan kimia                           fertilizers, and chemicals by insurance against
     terhadap risiko kebakaran dan risiko lainnya dengan                             losses from fire and other risks under blanket
     jumlah pertanggungan sebesar Rp1.065.000.000                                    policies with insurance coverage totalling
     (31 Desember             2022:        Rp1.063.000.000;                          Rp1,065,000,000        (December        31,     2022:
     31 Desember 2021: Rp320.000.000) yang mana                                      Rp1,063,000,000;        December        31,     2021:
     menurut pendapat manajemen Kelompok Usaha                                       Rp320,000,000), which in the Group’s management
     jumlahnya cukup untuk menutup kemungkinan                                       opinion is adequate to cover possible losses from
     kerugian     yang       timbul    dari   risiko  yang                           such risk.
     dipertanggungkan.

     Pada tanggal 31 Desember 2023 dan 2022,                                         As of December 31, 2023 dan 2022 the Company
     Perseroan dan entitas anak tertentu menjaminkan                                 and certain subsidiaries pledged inventories in
     persediaan sehubungan dengan fasilitas pinjaman                                 relation with the syndicated loan facility (Note 22).
     sindikasi (Catatan 22).

9.    ASET BIOLOGIS                                                    9.            BIOLOGICAL ASSETS

                                                           Disajikan kembali - Catatan 4/
                                                                  As restated - Note 4

                                                                                      1 Januari 2022/
                                                                                      January 1, 2022/
                                    31 Desember 2023/    31 Desember 2022/           31 Desember 2021/
                                    December 31, 2023    December 31, 2022           December 31, 2021

       Saldo awal                         225.042.572          361.255.612                 243.073.979                      Beginning balance
       Keuntungan/(kerugian) atas                                                                                   Gains/(losses) arising from
         perubahan nilai wajar                                                                                       changes in fair value of
         aset biologis                     43.468.323          (136.213.040)               118.181.633                      biological assets

       Saldo akhir                        268.510.895          225.042.572                 361.255.612                        Ending balance




                                                                67




                                                                                                                                                                  355
                                                                                                                      PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                             Laporan Tahunan 2023 Annual Report
Page 356
                                                                                                The original consolidated financial statements included herein
                                                                                                                              are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                           PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                      AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                             Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                         financial statements
                                    Tanggal 31 Desember 2023                                                  As of December 31, 2023
                                   dan untuk tahun yang berakhir                                              and for year then ended
                                       pada tanggal tersebut                                             (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                             unless otherwise stated)
                                      kecuali dinyatakan lain)


                      10. BIAYA DIBAYAR DIMUKA                                                10.    PREPAYMENTS
                                                                                   Disajikan kembali - Catatan 4/
                                                                                         As restated - Note 4

                                                                                                      1 Januari 2022/
                                                                                                      January 1, 2022/
                                                            31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                                            December 31, 2023   December 31, 2022    December 31, 2021

                             Asuransi                               2.444.276            2.073.905            2.231.410                                Insurance
                             Lain-lain                                      -              193.735              449.083                                   Others

                                                                    2.444.276            2.267.640            2.680.493


                      11. UANG MUKA                                                            11. ADVANCES

                                                                                 Disajikan kembali - Catatan 4/
                                                                                        As restated - Note 4

                                                                                                      1 Januari 2022/
                                                                                                      January 1, 2022/
                                                            31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                                            December 31, 2023   December 31, 2022    December 31, 2021

                             Pihak berelasi (Catatan 34a)          68.871.190          15.222.059            24.726.295               Related parties (Note 34a)

                             Pihak ketiga                                                                                                           Third parties
                                PT Sawit Graha Manunggal           30.952.872                   -                     -           PT Sawit Graha Manunggal
                                PT Ichtiar Gusti Pudi              29.408.002          30.008.905                     -                 PT Ichtiar Gusti Pudi
                                PT Graha Inti Jaya                 28.185.451                   -             2.446.499                    PT Graha Inti Jaya
                                PT Risman Scham Palm Indonesia     16.002.208          22.887.585            20.760.477    PT Risman Scham Palm Indonesia
                                PT Trimitra Sistem Solusindo       10.058.408                   -                     -         PT Trimitra Sistem Solusindo
                                PT Sawit Mandiri Lestari            9.235.406          30.878.030            10.065.921              PT Sawit Mandiri Lestari
                                PT Ichiko Agro Lestari              6.332.369           6.461.760                     -                PT Ichiko Agro Lestari
                                PT Borneo Langgeng Sejahtera        4.791.679          19.589.348            70.263.279       PT Borneo Langgeng Sejahtera
                                PT Sakti Mait Jaya Langit                   -           2.303.502            65.768.722            PT Sakti Mait Jaya Langit
                                PT Fairco Agro Lestari                      -                   -            27.610.620               PT Fairco Agro Lestari
                                PT Grahacipta Bangkojaya                    -                   -            24.981.209           PT Grahacipta Bangkojaya
                                PT Musirawas Citraharpindo                  -                   -            13.758.355          PT Musirawas Citraharpindo
                                Lain-lain (jumlah masing-masing                                                                      Others (individually each
                                   kurang dari Rp5.000.000)        32.854.995          29.909.787            27.244.057                below Rp5,000,000)

                                                                  167.821.390         142.038.917           262.899.139

                                                                  236.692.580         157.260.976           287.625.434



                             Akun ini merupakan uang muka atas pembelian                             This account represents advances for purchase of
                            tandan buah segar, pupuk, material, suku cadang,                         fresh fruit bunches, fertilizers, materials, spare parts
                            dan jasa kepada pihak ketiga dan pihak berelasi.                         and services to third parties and a related parties.




                                                                                      68




356 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 357
                                                                                              The original consolidated financial statements included herein
                                                                                                                            are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                                                   PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                                              AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                                                     Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                                                 financial statements
            Tanggal 31 Desember 2023                                                                          As of December 31, 2023
           dan untuk tahun yang berakhir                                                                      and for year then ended
               pada tanggal tersebut                                                                     (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                                                     unless otherwise stated)
              kecuali dinyatakan lain)


12. ASET TETAP DAN TANAMAN PRODUKTIF,                                                         12. FIXED ASSETS AND BEARER PLANTS, NET
    NETO
                                                         Untuk tahun yang Berakhir pada Tanggal 31 Desember 2023/
                                                                  For the year Ended December 31, 2023

                                                                                                      Penyesuaian
                                                                                                        selisih kurs
                                                                                                        penjabaran
                                Saldo Awal -                                                               laporan
                              Disajikan kembali -                                                        keuangan/
                                 Catatan 4/                                                           Adjustment on
                                 Beginning                                                           foreign currency
                                Balance – As                                                           translation of   Saldo Akhir/
                                  Restated    Penambahan/           Pengurangan/      Reklasifikasi/      financial      Ending
                                  - Note 4        Additions           Disposal       Reclassification statements         Balance

  Biaya perolehan                                                                                                                                                   Cost
  Pemilikan langsung                                                                                                                                   Direct ownership
  Tanah                        1.163.567.263          19.705.540                -                 -                -    1.183.272.803                              Lands
  Bangunan                     1.490.884.013           2.154.640                -       122.771.241       (6.043.421)   1.609.766.473                           Buildings
  Prasarana                      416.596.122           1.143.783                -        26.748.665                -      444.488.570                     Infrastructures
  Mesin dan peralatan            977.662.242          41.329.350                -        10.538.253       (4.360.398)   1.025.169.447         Machinery and equipment
  Kendaraan dan alat-alat berat 439.145.854           22.876.715       (3.744.500)          715.000          (58.966)     458.934.103     Vehicles and heavy equipment
  Perabotan dan peralatan         86.628.031          13.569.780         (772.481)       71.898.543          (94.678)     171.229.195              Furniture and fixtures

  Tanaman produktif                                                                                                                                      Bearer plants
  Tanaman menghasilkan            3.203.655.839                -                -          1.862.986               -    3.205.518.825                 Mature plantations
  Tanaman belum
      menghasilkan                   18.661.707        4.501.059                -         (6.917.934)              -       16.244.832             Immature plantations
  Aset dalam penyelesaian           207.081.947      261.882.825                -       (232.671.702)       (270.628)     236.022.442          Constructions in progress

  Jumlah biaya perolehan          8.003.883.018      367.163.692       (4.516.981)        (5.054.948)    (10.828.091)   8.350.646.690                          Total cost


  Akumulasi depresiasi                                                                                                                      Accumulated depreciation
  Pemilikan langsung                                                                                                                                   Direct ownership
  Bangunan                         (450.515.768)     (78.648.665)               -                  -        175.042      (528.989.391)                          Buildings
  Prasarana                        (246.445.716)     (20.235.705)               -                  -              -      (266.681.421)                    Infrastructures
  Mesin dan peralatan              (604.127.752)     (82.014.857)               -                  -        506.773      (685.635.836)        Machinery and equipment
  Kendaraan dan alat-alat berat    (354.206.495)     (29.477.436)       3.744.500                  -         (9.277)     (379.948.708)    Vehicles and heavy equipment
  Perabotan dan perlengkapan        (60.119.634)     (17.357.783)         772.481                  -         (5.584)      (76.710.520)             Furniture and fixtures

  Tanaman produktif                                                                                                                                      Bearer plants
  Tanaman menghasilkan            (1.445.337.572)   (152.921.938)               -                  -               -    (1.598.259.510)               Mature plantations

  Jumlah akumulasi                                                                                                                                    Total accumulated
    penyusutan                    (3.160.752.937)   (380.656.384)       4.516.981                  -        666.954     (3.536.225.386)                depreciation

  Nilai buku neto                 4.843.130.081                                                                         4.814.421.304                   Net book value



                                     Untuk tahun yang Berakhir pada Tanggal 31 Desember 2022 - Disajikan kembali - Catatan 4/
                                                 For the year Ended December 31, 2022 - As restated - Note 4

                                                                                                      Penyesuaian
                                                                                                       selisih kurs
                                                                                                        penjabaran
                                                                                                          laporan
                                                                                                        keuangan/
                                                                                                      Adjustment on
                                                                                                     foreign currency
                                    Saldo awal/                                                       translation of    Saldo Akhir/
                                    Beginning       Penambahan/     Pengurangan/      Reklasifikasi/     financial       Ending
                                     balance          Additions       Disposal       Reclassification statements         Balance

  Biaya perolehan                                                                                                                                                   Cost
  Pemilikan langsung                                                                                                                                   Direct ownership
  Tanah                        1.137.107.249          26.460.014                -                 -                -    1.163.567.263                              Lands
  Bangunan                     1.319.897.910             606.362                -       141.462.176       28.917.565    1.490.884.013                           Buildings
  Prasarana                      388.956.034             426.493                -        27.213.595                -      416.596.122                     Infrastructures
  Mesin dan peralatan            913.955.245          22.687.734                -        20.672.759       20.346.504      977.662.242         Machinery and equipment
  Kendaraan dan alat-alat berat 403.169.099           35.776.808                -                 -          199.947      439.145.854     Vehicles and heavy equipment
  Perabotan dan peralatan         74.188.260          11.762.162                -           243.433          434.176       86.628.031              Furniture and fixtures

  Tanaman produktif                                                                                                                                      Bearer Plants
  Tanaman menghasilkan            3.201.822.594                -                -          1.833.245               -    3.203.655.839                 Mature plantations
  Tanaman belum
      menghasilkan                    8.877.260       11.617.692                -         (1.833.245)              -       18.661.707             Immature plantations
  Aset dalam penyelesaian           174.559.436      220.826.533                -       (189.591.963)      1.287.941      207.081.947          Constructions in progress

  Jumlah biaya perolehan          7.622.533.087      330.163.798                -                  -      51.186.133    8.003.883.018                          Total cost




                                                                                   69




                                                                                                                                                                                         357
                                                                                                                                            PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                                    Laporan Tahunan 2023 Annual Report
Page 358
                                                                                                                    The original consolidated financial statements included herein
                                                                                                                                                  are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                                                PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                                           AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                                  Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                                              financial statements
                                    Tanggal 31 Desember 2023                                                                       As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                                   and for year then ended
                                       pada tanggal tersebut                                                                  (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                                  unless otherwise stated)
                                      kecuali dinyatakan lain)


                      12. ASET TETAP DAN TANAMAN PRODUKTIF,                                                        12. FIXED ASSETS AND BEARER PLANTS, NET
                          NETO (lanjutan)                                                                              (continued)
                                                             Untuk tahun yang Berakhir pada Tanggal 31 Desember 2022 - Disajikan kembali - Catatan 4/
                                                                         For the year Ended December 31, 2022 - As restated - Note 4

                                                                                                                             Penyesuaian
                                                                                                                              selisih kurs
                                                                                                                               penjabaran
                                                                                                                                 laporan
                                                                                                                               keuangan/
                                                                                                                             Adjustment on
                                                                                                                            foreign currency
                                                            Saldo awal/                                                      translation of    Saldo Akhir/
                                                            Beginning       Penambahan/     Pengurangan/     Reklasifikasi/     financial       Ending
                                                             balance          Additions       Disposal      Reclassification statements         Balance

                          Akumulasi depresiasi                                                                                                                      Accumulated depreciation
                          Pemilikan langsung                                                                                                                                   Direct ownership
                          Bangunan                         (375.054.708)     (71.566.470)               -                -      (3.894.590)     (450.515.768)                           Buildings
                          Prasarana                        (229.356.377)     (17.089.339)               -                -               -      (246.445.716)                     Infrastructures
                          Mesin dan peralatan              (520.292.216)     (76.526.579)               -                -      (7.308.957)     (604.127.752)         Machinery and equipment
                          Kendaraan dan alat-alat berat    (325.214.600)     (28.925.064)               -                -         (66.831)     (354.206.495)     Vehicles and heavy equipment
                          Perabotan dan perlengkapan        (52.221.523)      (7.685.178)               -                -        (212.933)      (60.119.634)              Furniture and fixtures

                          Tanaman produktif                                                                                                                                      Bearer plants
                            Tanaman menghasilkan          (1.292.508.660)   (152.828.912)               -                -               -     (1.445.337.572)           Mature plantations

                          Jumlah akumulasi                                                                                                                                    Total accumulated
                            penyusutan                    (2.794.648.084)   (354.621.542)               -                -     (11.483.311)    (3.160.752.937)                 depreciation

                          Nilai buku neto                 4.827.885.003                                                                        4.843.130.081                    Net book value

                          Kerugian penurunan nilai          (12.301.891)               -       12.301.891                -               -                    -                Impairment loss

                          Nilai buku neto setelah                                                                                                                         Net book value after
                            penurunan nilai               4.815.583.112                                                                        4.843.130.081              impairment loss



                             a. Tanaman produktif                                                                      a.     Bearer plants
                                  Amortisasi tanaman menghasilkan dibebankan                                                  Amortization of mature plantations are charged
                                  ke akun beban pokok penjualan (Catatan 30).                                                 to cost of sales (Note 30).
                                  Tanaman belum menghasilkan merupakan                                                        The immature plantations represent the
                                  akumulasi biaya yang terjadi di Kelompok                                                    accumulated costs incurred related to the
                                  Usaha sehubungan dengan pengembangan                                                        development of the Group’s oil palm plantations
                                  perkebunan kelapa sawit (perkebunan), seperti                                               (plantations), such as land clearing, planting,
                                  pembersihan lahan, penanaman, pemupukan                                                     fertilizing and other maintenance activities until
                                  dan kegiatan-kegiatan pemeliharaan lainnya                                                  the oil palm areas are considered mature
                                  sampai lahan perkebunan kelapa sawit tersebut                                               (Note 2k).
                                  sudah menghasilkan (Catatan 2k).
                                  Mutasi tanaman belum menghasilkan adalah                                                    The movement of immature plantations is as
                                  sebagai berikut:                                                                            follows:
                                                                                     31 Desember 2023/          31 Desember 2022/
                                                                                     December 31, 2023          December 31, 2022

                                  Saldo awal                                                 18.661.707                 8.877.260                                   Beginning balance
                                  Biaya pengembangan                                          4.501.059                11.617.692                                  Development costs
                                  Dialihkan ke tanaman menghasilkan                          (1.862.986)               (1.833.245)                   Transferred to mature plantations
                                  Dialihkan ke persediaan                                    (5.054.948)                        -                           Transferred to inventories

                                  Saldo akhir                                                16.244.832                18.661.707                                         Ending balance


                                  Selama 2023, 2022, dan 2021, tidak terdapat                                                 During 2023, 2022, and 2021, there were no
                                  penambahan      tanaman     yang      belum                                                 additions of immature plantations from non-
                                  menghasilkan yang berasal dari transaksi non                                                cash transactions.
                                  kas.




                                                                                                           70




358 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 359
                                                              The original consolidated financial statements included herein
                                                                                            are in the Indonesian language.

    PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
          DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
       Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
               KONSOLIDASIAN                                                financial statements
         Tanggal 31 Desember 2023                                         As of December 31, 2023
        dan untuk tahun yang berakhir                                     and for year then ended
            pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
       (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
           kecuali dinyatakan lain)


12. ASET TETAP DAN TANAMAN PRODUKTIF,                        12. FIXED ASSETS AND BEARER PLANTS, NET
    NETO (lanjutan)                                              (continued)

   a. Tanaman produktif (lanjutan)                                 a. Bearer plants (continued)

      Kelompok Usaha telah memperoleh hak                             The Group has obtained the titles of the
      kepemilikan atas tanah perkebunan dalam                         plantation land (“landrights”) under “Hak Guna
      bentuk sertifikat “Hak Guna Usaha” (“HGU”)                      Usaha” (“HGU”) certificates covering its
      mencakup wilayah perkebunan sebagai berikut:                    plantation area as follows:
                                         Ha/
                                         Ha
         Nomor HGU/                (tidak diaudit              Lokasi/                         Tanggal berakhir/
         HGU Number                  /unaudited)              Location                            End date

       Perseroan/the Company

            30                                199    Arut Selatan, Kotawaringin Barat         24 September 2039/
                                                                                              September 24, 2039

            36                             12.342    Arut Selatan, Kotawaringin Barat         24 September 2039/
                                                                                              September 24, 2039

            47                              4.443    Arut Selatan, Kotawaringin Barat         24 September 2042/
                                                                                              September 24, 2042
       PT Kalimantan Sawit Abadi
            48                              1.933    Natai Baru, Kotawaringin Barat           24 September 2042/
                                                                                              September 24, 2042

            49                              2.510    Rungun, Kotawaringin Barat               24 September 2042/
                                                                                              September 24, 2042
      PT Mitra Mendawai Sejati
            45                              5.922    Umpang, Kotawaringin Barat              24 September 2042/
                                                                                             September 24, 2042

            46                              2.999    Umpang, Kotawaringin Barat              24 September 2042/
                                                                                             September 24, 2042

            83                             618,85    Umpang, Kotawaringin Barat                   19 Juli 2057/
                                                                                                  Juli 19, 2057

            84                             188,53    Umpang, Kotawaringin Barat                   19 Juli 2057/
                                                                                                  Juli 19, 2057

            85                             236,89    Umpang, Runtu, Kotawaringin Barat            19 Juli 2057/
                                                                                                  Juli 19, 2057

            86                              70,48    Umpang, Runtu, Kotawaringin Barat            19 Juli 2057/
                                                                                                  Juli 19, 2057
      PT Tanjung Sawit Abadi
           61                              524,25    Nanga koring, Sungkup, Melata               29 Mei 2052/
                                                     Nanuah, Topalan, Lamandau                   May 29, 2052

            62                           5.743,85    Nanga koring, Sungkup, Melata               29 Mei 2052/
                                                     Nanuah, Topalan, Lamandau                   May 29, 2052

            63                             144,12    Nanga koring, Sungkup, Melata               29 Mei 2052/
                                                     Nanuah, Topalan, Lamandau                   May 29, 2052




                                                     71




                                                                                                                                               359
                                                                                                    PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                          Laporan Tahunan 2023 Annual Report
Page 360
                                                                                        The original consolidated financial statements included herein
                                                                                                                      are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                     financial statements
                                    Tanggal 31 Desember 2023                                              As of December 31, 2023
                                   dan untuk tahun yang berakhir                                          and for year then ended
                                       pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
                                      kecuali dinyatakan lain)


                      12. ASET TETAP DAN TANAMAN PRODUKTIF                             12. FIXED ASSETS               AND     BEARER       PLANTS
                          (lanjutan)                                                       (continued)

                             a. Tanaman produktif (lanjutan)                                   a.    Bearer plants (continued)
                                 Kelompok Usaha telah memperoleh hak                                 The Group has obtained the titles of the
                                 kepemilikan atas tanah perkebunan dalam                             plantation land (“landrights”) under “Hak Guna
                                 bentuk sertifikat “Hak Guna Usaha” (“HGU“)                          Usaha” (“HGU”) certificates covering its
                                 mencakup wilayah perkebunan sebagai berikut:                        plantation area as follows: (continued)
                                 (lanjutan)
                                                                Ha/
                                                                Ha
                                         Nomor HGU/        (tidak diaudit                Lokasi/                          Tanggal berakhir/
                                         HGU Number         /unaudited)                 Location                             End date

                                  PT Mirza Pratama Putra
                                        98                     90,83            Lamandau                                  9 September 2056/
                                                                                                                          September 9, 2056

                                           99                  36,78            Lamandau                                  9 September 2056/
                                                                                                                          September 9, 2056

                                          100                  79,64            Lamandau                                  9 September 2056/
                                                                                                                          September 9, 2056

                                          101                1.287,48           Lamandau                                  9 September 2056/
                                                                                                                          September 9, 2056

                                          102                1.403,30           Lamandau                                  9 September 2056/
                                                                                                                          September 9, 2056

                                          103                 635,40            Lamandau                                  9 September 2056/
                                                                                                                          September 9, 2056

                                          104                 193,70            Lamandau                                  9 September 2056/
                                                                                                                          September 9, 2056
                                  PT Sawit Multi Utama
                                       67                    2.574,67           Pedongatan,Nanga Koring,
                                                                                Toka, Sepondam, Merambang,                  29 Mei 2052/
                                                                                Batu Tunggal, Lamandau                      May 29, 2052

                                           68                6.384,31           Pedongatan,Nanga Koring,
                                                                                Toka, Sepondam, Merambang,                  29 Mei 2052/
                                                                                Batu Tunggal, Lamandau                      May 29, 2052
                                 PT Menteng Kencana Mas
                                       1                      519,96            Pulang pisau                             21 September 2053/
                                                                                                                         September 21, 2053
                                           2                  956,93            Pulang pisau                             21 September 2053/
                                                                                                                         September 21, 2053
                                           3                  720,65            Pulang pisau                             21 September 2053/
                                                                                                                         September 21, 2053
                                           4                 3.998,50           Pulang pisau                             21 September 2053/
                                                                                                                         September 21, 2053
                                           5                   38,94            Pulang pisau                             21 September 2053/
                                                                                                                         September 21, 2053

                                 Manajemen       berpendapat bahwa     hak                           Management believes that the landrights can
                                 kepemilikan atas tanah dapat diperpanjang                           be extended upon their expiration.
                                 pada saat jatuh tempo.




                                                                                72




360 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 361
                                                                       The original consolidated financial statements included herein
                                                                                                     are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                          PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                     AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                            Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                        financial statements
            Tanggal 31 Desember 2023                                                 As of December 31, 2023
           dan untuk tahun yang berakhir                                             and for year then ended
               pada tanggal tersebut                                            (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                            unless otherwise stated)
              kecuali dinyatakan lain)


12. ASET TETAP DAN TANAMAN PRODUKTIF                                 12. FIXED ASSETS               AND      BEARER          PLANTS
    (lanjutan)                                                           (continued)

  b.    Aset tetap (lanjutan)                                             b.    Fixed assets (continued)

        Pada tanggal 31 Desember 2023, 2022 dan                                 As of December 31, 2023, 2022 and 2021, the
        2021, rincian persentase penyelesaian dan                               details of percentage of completion and
        estimasi waktu penyelesaian untuk aset dalam                            estimated time of completion of constructions in
        penyelesaian adalah sebagai berikut: (lanjutan)                         progress were as follows: (continued)

        31 Desember 2023                                                                                        December 31, 2023

                                   Persentase
                                 jumlah tercatat
                                  terhadap nilai
                                     kontrak/         Persentase      Akumulasi       Estimasi
                                  Percentage of      penyelesaian/      biaya/      penyelesaian/
                                carrying amount     Percentage of    Accumulated      Estimated
                                to contract value     completion        costs        completion
        Bangunan                       4% - 99%         12% - 97%     114.015.400   Maret - Desember/March                  Buildings
                                                                                    - December 2024
        Prasarana                      5% - 99%          8% - 93%      90.190.863   Maret - Desember/March            Infrastructures
                                                                                    - December 2024
        Mesin dan peralatan          27% - 60%          11% - 87%      31.816.180   Maret - Desember/March Machinery and equipment
                                                                                    - December 2024

                                                                      236.022.443

        31 Desember 2022 (disajikan kembali - Catatan 4)                              December 31, 2022 (as restated - Note 4)

                                   Persentase
                                 jumlah tercatat
                                  terhadap nilai
                                     kontrak/         Persentase      Akumulasi       Estimasi
                                  Percentage of      penyelesaian/      biaya/      penyelesaian/
                                carrying amount     Percentage of    Accumulated      Estimated
                                to contract value     completion        costs        completion
        Bangunan                     50% - 75%          18% - 95%     112.987.714   Juni-December/June-December              Buildings
                                                                                    2023
        Prasarana                    56% - 82%          18% - 82%      42.605.678   Juli-December/July-December        Infrastructures
                                                                                    2023
        Mesin dan peralatan          55% - 75%          18% - 62%      51.488.556   Oktober-December       Machinery and equipment
                                                                                    October-December 2023

                                                                      207.081.948



        Pada tanggal 31 Desember 2023, aset tetap                               As of December 31, 2023, fixed assets used in
        yang digunakan dalam operasi Kelompok                                   the Group’s operation include fully depreciated
        Usaha meliputi aset tetap yang telah habis nilai                        fixed assets with acquisition costs totaling
        bukunya dengan nilai perolehan sebesar                                  Rp958,666,456      (December       31,   2022:
        Rp958.666.456      (31     Desember      2022:                          Rp944,276,668;      December       31,   2021:
        Rp944.276.668;      31     Desember      2021:                          Rp856,090,188).
        Rp856.090.188).




                                                              73




                                                                                                                                                          361
                                                                                                               PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                     Laporan Tahunan 2023 Annual Report
Page 362
                                                                                             The original consolidated financial statements included herein
                                                                                                                           are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                         PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                    AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                           Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                       financial statements
                                    Tanggal 31 Desember 2023                                                As of December 31, 2023
                                   dan untuk tahun yang berakhir                                            and for year then ended
                                       pada tanggal tersebut                                           (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                           unless otherwise stated)
                                      kecuali dinyatakan lain)


                      12. ASET TETAP DAN TANAMAN PRODUKTIF                                  12. FIXED ASSETS             AND      BEARER        PLANTS
                          (lanjutan)                                                            (continued)

                             b. Aset tetap (lanjutan)                                            b.    Fixed assets (continued)
                                  Beban penyusutan aset tetap dibebankan ke                            Depreciation of fixed assets were charged to the
                                  akun-akun berikut ini:                                               following accounts:
                                                                            Untuk tahun yang berakhir
                                                                           pada Tanggal 31 Desember/
                                                                        For the years ended December 31,

                                                                                                 2022
                                                                                          (Disajikan kembali -
                                                                                              Catatan 4)/
                                                                                            (As restated -
                                                                            2023              Note 4)

                                   Beban pokok penjualan (Catatan 30)     192.215.540         180.297.478                        Cost of sales (Note 30)
                                   Beban umum dan administrasi                                                      General and administrative expenses
                                     (Catatan 31)                           35.518.906          21.495.152                                    (Note 31)

                                                                          227.734.446         201.792.630



                                 Pada tanggal 31 Desember 2023, 2022, dan                              As of December 31, 2023, 2022, and 2021,
                                 2021, tidak terdapat aset tetap yang tidak                            there are no fixed assets which are not in use
                                 dipakai oleh Kelompok Usaha.                                          by the Group.
                                 Selama 2023, Kelompok Usaha mencatat                                  During 2023, the Group recorded loss on written
                                 kerugian atas penghapusan aset tetap sebesar                          off fixed assets of RpNil (2022: RpNil; 2021:
                                 RpNihil (2022: RpNihil; 2021: Rp5.050.363).                           Rp5,050,363).
                                 Pada tanggal 31 Desember 2023 dan 2022,                                On December 31, 2023 and 2022, MMS, TSA,
                                 MMS, TSA, MPP, dan MKM menjaminkan                                     MPP, and MKM pledged its plantations, land,
                                 perkebunan, tanah, bangunan, pabrik kelapa                             buildings, palm oil mill, the infrastructures and
                                 sawit, sarana dan prasarana dan mesin di                               machinery thereon as collaterals for loan
                                 atasnya untuk fasilitas pinjaman yang diperoleh                        facilities obtained by the Group from PT Bank
                                 oleh Kelompok Usaha dari PT Bank Negara                                Negara Indonesia (Persero) Tbk (Note 22).
                                 Indonesia (Persero) Tbk (Catatan 22).

                                 Pada tanggal 31 Desember 2023, 2022 dan                                On December 31, 2023, 2022 and 2021, the
                                 2021, Perseroan menjaminkan bangunan                                   Company pledged its office space as collaterals
                                 kantor untuk fasilitas kredit investasi dari                           for investment credit facility obtained by the
                                 PT Bank Rakyat Indonesia (Persero) Tbk                                 Company from PT Bank Rakyat Indonesia
                                 (Catatan 22).                                                          (Persero) Tbk (Note 22).

                                 Pada tanggal 31 Desember 2023 dan 2022,                                On December 31, 2023 and 2022, the
                                 Perseroan, KSA, dan SMU menjaminkan                                    Company, KSA, and SMU guarantee oil palm
                                 Perkebunan kelapa sawit, termasuk didalamnya                           plantations, including land as stated in the
                                 tanah sebagaimana tertera dalam sertipikat Hak                         Cultivation Rights (“HGU”) certificate, plants,
                                 Guna Usaha (“HGU”), tanaman, non-tanaman,                              non-plants, buildings, complementary facilities,
                                 bangunan, sarana pelengkap, bangunan pabrik                            factory buildings as stated in Building Use
                                 sebagaimana tertera dalam sertipikat Hak Guna                          Rights (“HGB”) certificates and some
                                 Bangunan (“HGB”) dan sebagian persediaan,                              inventories, receivables & business income in
                                 piutang & pendapatan usaha sehubungan                                  connection with Syndicated loans (Note 22).
                                 dengan pinjaman Sindikasi (Catatan 22).




                                                                                     74




362 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 363
                                                                                                       The original consolidated financial statements included herein
                                                                                                                                     are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                                                            PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                                                                       AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                                                              Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                                                          financial statements
             Tanggal 31 Desember 2023                                                                                   As of December 31, 2023
            dan untuk tahun yang berakhir                                                                               and for year then ended
                pada tanggal tersebut                                                                              (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                                                              unless otherwise stated)
               kecuali dinyatakan lain)


12. ASET TETAP DAN TANAMAN PRODUKTIF                                                                 12. FIXED ASSETS                          AND        BEARER            PLANTS
    (lanjutan)                                                                                           (continued)

     b. Aset tetap (lanjutan)                                                                                b.    Fixed assets (continued)

           Pada tanggal 31 Desember 2023, 2022, dan                                                                As of December 31, 2023, 2022, and 2021,
           2021,    Perseroan        dan     entitas anak                                                          the Company and its subsidiaries insured
           mengasuransikan bangunan, mesin dan                                                                     buildings, machinery and equipment, vehicles
           peralatan, kendaraan dan alat-alat berat,                                                               and heavy equipment, and furniture and
           perabotan dan perlengkapan atas risiko                                                                  fixtures against losses from fire and other risks
           kebakaran dan risiko lainnya dengan jumlah                                                              under blanket policies with insurance coverage
           pertanggungan sebesar Rp3.806.812.682                                                                   totaling Rp3,806,812,682 (December 31, 2022:
           (31 Desember 2022: Rp4.896.657.827;                                                                     Rp4,896,657,827; December 31, 2021:
           31 Desember 2021: Rp2.597.587.337)                                                                      Rp2,597,587,337) which in the management’s
           menurut pendapat manajemen jumlahnya                                                                    opinion, is adequate to cover possible losses
           cukup untuk menutup kemungkinan kerugian                                                                from such risks.
           yang timbul dari risiko-risiko tersebut.


13. ASET HAK GUNA, NETO                                                                             13. RIGHT OF USE ASSETS, NET
     Akun ini terdiri dari:                                                                                  This account consists of:
                                                           Untuk tahun yang berakhir pada tanggal 31 Desember 2023/
                                                                       For the year ended December 31, 2023

                                     Saldo
                                 Awal - Disajkan
                               kembali - Catatan 4/                                                                                       Saldo
                                   Beginning                                                                                              Akhir/
                                  Balance - As        Penambahan/        Pengurangan/          Reklasifikasi/      Penyesuaian/          Ending
                                restated - Note 4      Additions          Deductions         Reclassifications      Adjustment           Balance

  Biaya perolehan                                                                                                                                                        Acquisition cost
  Prasarana                           11.435.716                   -                    -                    -         5.752.036          17.187.752                       Infrastructures
  Tanah                               17.987.200                   -                    -                    -                            17.987.200                                Lands
  Bangunan                                     -          82.249.497                    -                    -                    -       82.249.497                             Buildings
  Kendaraan dan alat berat                     -          21.009.901                    -                    -                    -       21.009.901        Vehicle and heavy equipments

  Total biaya perolehan               29.422.916         103.259.398                    -                    -         5.752.036         138.434.350               Total acquisition cost

  Akumulasi depresiasi                                                                                                                                        Accumulated depreciation
  Prasarana                           (1.327.360)           (613.848 )                  -                    -          (718.801)          (2.660.009 )                    Infrastructures
  Tanah                              (10.679.900)         (2.248.400 )                  -                    -                 -          (12.928.300 )                              Land
  Bangunan                                     -         (12.992.555 )                  -                    -                 -          (12.992.555 )                          Buildings
  Kendaraan dan alat berat                     -          (1.972.760 )                  -                    -                 -           (1.972.760 )     Vehicle and heavy equipments

  Total akumulasi depresiasi        (12.007.260)         (17.827.563 )                  -                    -          (718.801)         (30.553.624 )   Total accumulated depreciation

  Nilai buku neto                     17.415.656                                                                                         107.880.726                      Net book value


                                                           Untuk tahun yang berakhir pada tanggal 31 Desember 2022 - Disajikan kembali - Catatan 4/
                                                                       For the year ended December 31, 2022 - As restated - Note 4

                                    Saldo                                                                                                 Saldo
                                    Awal/                                                                                                 Akhir/
                                  Beginning           Penambahan/        Pengurangan/          Reklasifikasi/      Penyesuaian/          Ending
                                   Balance             Additions          Deductions         Reclassifications      Adjustment           Balance

  Biaya perolehan                                                                                                                                                       Acquisition cost
  Prasarana                            9.824.279                   -                    -                    -         1.611.437          11.435.716                      Infrastructures
  Tanah                                8.993.600           8.993.600                    -                    -                 -          17.987.200                                Land

  Total biaya perolehan               18.817.879           8.993.600                    -                    -         1.611.437          29.422.916               Total acquisition cost

  Akumulasi depresiasi                                                                                                                                         Accumulated depreciation
  Prasarana                           (1.091.586)           (408.418 )                  -                    -           172.644           (1.327.360 )                   Infrastructures
  Tanah                               (8.431.500)         (2.248.400 )                  -                    -                            (10.679.900 )                             Land

  Total akumulasi depresiasi          (9.523.086)         (2.656.818)                   -                    -           172.644         (12.007.260)     Total accumulated depreciation

  Nilai buku neto                      9.294.793                                                                                          17.415.656                      Net book value




                                                                                            75




                                                                                                                                                                                                       363
                                                                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                                                  Laporan Tahunan 2023 Annual Report
Page 364
                                                                                                                   The original consolidated financial statements included herein
                                                                                                                                                 are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                                                PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                                           AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                                  Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                                              financial statements
                                    Tanggal 31 Desember 2023                                                                       As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                                   and for year then ended
                                       pada tanggal tersebut                                                                  (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                                  unless otherwise stated)
                                      kecuali dinyatakan lain)


                      13. ASET HAK GUNA, NETO (lanjutan)                                                        13. RIGHT OF USE ASSETS, NET (continued)

                             Depresiasi                                                                                  Depreciation

                             Beban depresiasi yang dibebankan ke operasi                                                 Depreciation expenses were charged to operations
                             sebagai bagian dari berikut ini:                                                            as part of the following:
                                                                                           Untuk tahun
                                                                              yang berakhir pada tanggal 31 Desember/
                                                                                           For the year
                                                                                       ended December 31,

                                                                                                                     2022
                                                                                                              (Disajikan kembali –
                                                                                                                  Catatan 4)/
                                                                                                                (As restated -
                                                                                        2023                        Note 4)
                             Beban pokok penjualan (Catatan 30)                           1.824.180                                       -                       Cost of sales (Note 30)
                             Beban umum dan administrasi                                                                                             General and administrative expenses
                               (Catatan 31)                                             16.003.383                          2.656.818                                         (Note 31)
                                                                                        17.827.563                          2.656.818


                             Liabilitas Sewa                                                                             Lease Liabilities
                             Mutasi liabilitas sewa sehubungan dengan aset hak                                           The movement of lease liabilities in relation to the
                             guna adalah sebagai berikut:                                                                right of use assets are as follows:
                                                    1 Januari 2023
                                                   Disajikan Kembali
                                                       - catatan 4/
                                                    January 1, 2023
                                                        As restated           Penambahan/        Beban bunga/            Pembayaran/           Penyesuaian/       31 Des 2023/
                                                           Note 4              Additions       Interest expenses          Payments              Adjustment        Dec 31, 2023

                             Kelas aset pendasar                                                                                                                                   Underlying assets
                             Prasarana                    11.328.166                     -             1.986.556                      -              8.241.624      21.556.346          Infrastructures
                             Bangunan                              -            36.785.818             3.361.065             (1.073.490)                     -      39.073.393                Buildings
                             Kendaraan dan                                                                                                                                         Vehicles and heavy
                                alat berat                             -        19.007.092               525.565             (2.478.375)                      -     17.054.282              equipment
                              Jumlah                      11.328.166            55.792.910             5.873.186             (3.551.865)             8.241.624      77.684.021                   Total

                                                                                    Disajikan kembali - Catatan 4/As restated - Note 4


                                                     1 Januari 2022/          Penambahan/        Beban bunga/            Pembayaran/           Penyesuaian/       31 Des 2022/
                                                     January 1, 2022           Additions       Interest expenses          Payments              Adjustment        Dec 31, 2022

                             Kelas aset pendasar                                                                                                                                   Underlying assets
                             Prasarana                    10.917.306             1.739.438             1.086.843             (2.415.421)                      -    11.328.166          Infrastructures
                             Tanah                                 -             8.993.600                     -             (8.993.600)                      -             -                    Land


                             Jumlah                       10.917.306            10.733.038             1.086.843            (11.409.021)                      -     11.328.166                   Total

                              Utang sewa berdasarkan jangka waktu:                                                       Lease payables on time basis:
                                                                                             Disajikan kembali - Catatan 4/
                                                                                                     As restated - Note 4

                                                                                                                           1 Januari 2022/
                                                                                                                           January 1, 2022/
                                                            31 Desember 2023/               31 Desember 2022/             31 Desember 2021/
                                                            December 31, 2023               December 31, 2022             December 31, 2021

                             Jangka pendek                                 13.138.714                   1.207.710                        1.207.710                                  Current portion
                             Jangka panjang                                64.545.307                  10.120.456                        9.709.596                               Non-current portion

                             Jumlah                                        77.684.021                  11.328.166                    10.917.306                                                 Total




                                                                                                     76




364 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 365
                                                                                                             The original consolidated financial statements included herein
                                                                                                                                           are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                                                                 PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                                                                            AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                                                                   Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                                                               financial statements
             Tanggal 31 Desember 2023                                                                                        As of December 31, 2023
            dan untuk tahun yang berakhir                                                                                    and for year then ended
                pada tanggal tersebut                                                                                   (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                                                                   unless otherwise stated)
               kecuali dinyatakan lain)


14. ASET TAKBERWUJUD, NETO                                                                               14. INTANGIBLE ASSETS, NET

                                                                    Untuk tahun yang berakhir pada tanggal 31 Desember 2023/
                                                                              For the year ended December 31, 2023

                                           Saldo 1 Jan 2023/                                                                             Saldo 31 Des 2023/
                                               Balance               Penambahan/          Pengurangan/            Reklasifikasi/             Balance
                                              Jan 1, 2023             Additions            Deductions            Reclassifications         Dec 31, 2023

  Biaya perolehan                                                                                                                                                                      Acquisition cost
  Lisensi perangkat lunak                          20.376.037                326.865                     -                           -          20.702.902                             Software licenses

  Jumlah biaya perolehan                           20.376.037                326.865                     -                           -          20.702.902                        Total acquisition cost

  Akumulasi amortisasi                                                                                                                                                        Accumulated amortization
  Lisensi perangkat lunak                         (10.668.238)            (3.445.842)                    -                           -         (14.114.080)                           Software licenses

  Nilai buku neto                                   9.707.799                                                                                    6.588.822                              Net book value


                                                       Untuk tahun yang berakhir pada tanggal 31 Desember 2022 - Disajikan Kembali - Catatan 4/
                                                                  For the year ended December 31, 2022 - As restated - Note 4

                                           Saldo 1 Jan 2022/                                                                             Saldo 31 Des 2022/
                                               Balance               Penambahan/          Pengurangan/            Reklasifikasi/             Balance
                                              Jan 1, 2022             Additions            Deductions            Reclassifications         Dec 31, 2022

  Biaya perolehan                                                                                                                                                                      Acquisition cost
  Lisensi perangkat lunak                          12.639.087              2.131.444                     -               5.605.506              20.376.037                             Software licenses
  Lisensi perangkat lunak                                                                                                                                                              Software licenses
      dalam pengembangan                            5.605.506                       -                    -              (5.605.506)                       -                            in development

  Jumlah biaya perolehan                           18.244.593              2.131.444                     -                           -          20.376.037                        Total acquisition cost

  Akumulasi amortisasi                                                                                                                                                        Accumulated amortization
  Lisensi perangkat lunak                          (6.919.503)             (3.748.735)                   -                           -          (10.668.238)                          Software licenses

  Nilai buku neto                                  11.325.090                                                                                    9.707.799                              Net book value




15. INVESTASI                 SAHAM                 PADA             PERSEROAN                           15. INVESTMENT IN SHARES OF ASSOCIATED
    ASOSIASI                                                                                                 COMPANIES

   Kelompok Usaha memiliki saldo investasi pada                                                                     The Group owned investments as of
   tanggal 31 Desember 2023, 2022, dan 2021 dengan                                                                  December 31, 2023, 2022, and 2021 as follows:
   rincian sebagai berikut:
                                                                      Nilai tercatat
                                                                       1 Jan 2023
                                                                  (Disajikan kembali -
                                                                       Catatan 4)/
                                                   %               Carrying amount          Penambahan                   Bagian laba/                     Dampak                 Nilai tercatat
                                               kepemilikan/           Jan 1, 2023          (pengurangan)/                   (rugi)/                dilusi (Catatan 14b)/      31 Desember 2023/
                                                  % of               (As restated -           Addition/                   Share of                       Impact on             Carrying amount
                                                ownership                Note 4)             (deduction)                 profit/(loss)              dilution (Note 14b)       December 31, 2023

   Perseroan asosiasi/
   Associated companies
      Metode ekuitas/Equity method
      PT Surya Borneo Industri
          Kawasan Industri/Industrial estate          49%                 645.231.496                        -                 (53.340.212)                            -               591.891.284




                                                                      Nilai tercatat                                                                                              Nilai tercatat
                                                                      1 Jan 2022/                                                                                              31 Desember 2022
                                                                 31 Des 2021 (Disajikan                                                                                       (Disajikan kembali -
                                                                  kembali - Catatan 4)/                                                                                            Catatan 4)/
                                                    %               Carrying amount         Penambahan                   Bagian laba/                     Dampak                Carrying amount
                                               kepemilikan/           Jan 1, 2022/         (pengurangan)/                   (rugi)/                dilusi (Catatan 14b)/      December 31, 2022
                                                   % of             Dec 31, 2021 (As          Addition/                   Share of                       Impact on               (As restated -
                                                ownership          Restated - Note 4)        (deduction)                 profit/(loss)              dilution (Note 14b)              Note 4)

   Perseroan asosiasi/
   Associated companies
      Metode ekuitas/Equity method
      PT Surya Borneo Industri
          Kawasan Industri/Industrial estate          49%                 682.582.231                        -                 (37.350.735)                            -               645.231.496




   SBI merupakan Perseroan swasta tertutup yang                                                                    SBI is a private companies in which there are no
   tidak terdapat harga pasar saham kuotasian yang                                                                 quoted market share prices available.
   tersedia.




                                                                                             77




                                                                                                                                                                                                                      365
                                                                                                                                                                           PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                                                                 Laporan Tahunan 2023 Annual Report
Page 366
                                                                                               The original consolidated financial statements included herein
                                                                                                                             are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                          PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                     AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                            Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                        financial statements
                                    Tanggal 31 Desember 2023                                                 As of December 31, 2023
                                   dan untuk tahun yang berakhir                                             and for year then ended
                                       pada tanggal tersebut                                            (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                            unless otherwise stated)
                                      kecuali dinyatakan lain)


                      15. INVESTASI    SAHAM             PADA      PERSEROAN                  15. INVESTMENT IN SHARES OF ASSOCIATED
                          ASOSIASI (lanjutan)                                                     COMPANIES (continued)

                            Tabel berikut menyajikan informasi keuangan atas                         The following table illustrates summarized financial
                            entitas asosiasi:                                                        information of associated companies:
                                                                              Disajikan kembali - Catatan 4/
                                                                                      As restated - Note 4

                                                                                                      1 Januari 2022/
                                                                                                      January 1, 2022/
                                                         31 Desember 2023/    31 Desember 2022/      31 Desember 2021/
                                                         December 31, 2023    December 31, 2022      December 31, 2021

                            PT Surya Borneo Industri                                                                                PT Surya Borneo Industri
                             Jumlah aset                     1.035.551.441        1.336.902.644           1.535.923.323                        Total assets
                             Jumlah liabilitas                 799.159.824          990.813.030           1.113.487.060                      Total liabilities
                             Jumlah pendapatan                 151.910.067           99.511.467              86.251.664                      Total revenue
                             Jumlah rugi bersih               (108.856.753)         (76.225.988)            (43.372.882)                   Total net losses
                             Jumlah (rugi)/penghasilan                                                                                          Total other
                                komprehensif lainnya                     -               (120.661)             130.160      comprehensive (loss)/income

                            PT Surya Borneo Industri (“SBI”)                                           PT Surya Borneo Industri (“SBI”)

                            Berdasarkan Perjanjian Fasilitas Pinjaman dari BNI                         Based on Credit Facilities agreements from BNI
                            kepada SBI pada tanggal 4 Mei 2018 dan                                     to SBI dated May 4, 2018 and May 21,2018, the
                            21 Mei 2018, Perseroan, sebagai salah satu                                 Company, as a shareholder of SBI, pledged its
                            pemegang saham SBI, menjaminkan saham yang                                 share ownership in SBI for loan facilities obtained
                            dimiliki pada SBI untuk fasilitas pinjaman SBI yang                        by SBI from BNI.
                            diperoleh dari BNI.

                            Pada tanggal 1 November 2023, pinjaman tersebut                            On November 1, 2023, the loan has been fully
                            telah dilunasi seluruhnya.                                                 settled.


                      16. PIUTANG PLASMA                                                      16. PLASMA RECEIVABLES

                            Akun ini merupakan akumulasi biaya-biaya yang                            This account represents the accumulated costs
                            dikeluarkan oleh Kelompok        Usaha untuk                             incurred by the Group for the development of
                            pengembangan perkebunan kelapa sawit milik                               plasma’s oil palm plantation which will be repaid by
                            plasma yang akan dibayar kembali oleh petani                             the plasma farmers or the villagers when the plasma
                            plasma atau masyarakat desa pada saat                                    plantation produces FFB based on agreements
                            perkebunan plasma telah menghasilkan TBS sesuai                          between the Group and the plasma farmers or the
                            dengan kesepakatan antara Kelompok Usaha                                 villagers. During year ended December 31, 2023,
                            dengan petani plasma atau masyarakat desa.                               interest charged on the plasma receivables at the
                            Selama     tahun      yang    berakhir    pada                           rate of 9.25% (December 31, 2022: 9.25%;
                            31 Desember 2023, atas piutang plasma dikenai                            December 31, 2021: from 9.25% to 10%) per
                            bunga sebesar 9,25% (31 Desember 2022: 9,25%;                            annum.
                            31 Desember 2021: 9,25% sampai 10%) per tahun.

                            Pendapatan bruto petani plasma atau masyarakat                           Gross revenues of the plasma farmers or the
                            desa akan dipotong dengan biaya cicilan pokok dan                        villagers would be deducted by 35% for the
                            bunga atas pinjaman investasi pembangunan kebun                          repayments of principal and interest on investment
                            sebesar 35%, biaya pemeliharaan dan perawatan                            loan for plantation development, maximum of 30%
                            maksimal sebesar 30% dan biaya jasa pengelolaan                          for maintenance and upkeep cost and a service fee
                            kebun sebesar 5%. Pendapatan petani plasma atau                          of 5% to manage the plantations’ operation. Income
                            masyarakat desa sebelum pelunasan pinjaman                               of the plasma farmers or the villagers before the
                            diperkirakan sebesar 30% dari pendapatan bruto.                          settlement of the loan is estimated at 30% of gross
                                                                                                     revenues.




                                                                                    78




366 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 367
                                                                                                              The original consolidated financial statements included herein
                                                                                                                                            are in the Indonesian language.

         PT SAWIT SUMBERMAS SARANA Tbk.                                                                               PT SAWIT SUMBERMAS SARANA Tbk.
               DAN ENTITAS ANAKNYA                                                                                          AND ITS SUBSIDIARIES
            Catatan atas Laporan Keuangan                                                                                 Notes to the CONSOLIDATED
                    KONSOLIDASIAN                                                                                             financial statements
              Tanggal 31 Desember 2023                                                                                      As of December 31, 2023
             dan untuk tahun yang berakhir                                                                                  and for year then ended
                 pada tanggal tersebut                                                                                 (Expressed in thousands of Rupiah,
            (Disajikan dalam ribuan Rupiah,                                                                                 unless otherwise stated)
                kecuali dinyatakan lain)


16. PIUTANG PLASMA (lanjutan)                                                                              16. PLASMA RECEIVABLES (continued)

    Perkebunan Plasma                                                                                              Plasma Plantations

    Dibawah ini adalah informasi kelompok tani dan                                                                 Below are information of farmers and villagers,
    masyarakat desa yang mempunyai piutang plasma                                                                  which have plasma receivables above Rp500,000.
    diatas Rp500.000.

    Kelompok Tani                                                                                                  Farmers
                                                                             Luas kebun       Luas yang dikelola
                                                                            dalam Hektar/       dalam Hektar/
                                                                              Estate area       Managed area                               Saldo per           Saldo per             Saldo per
                                                                               in Hectare          in Hectare                         31 Desember 2023/    31 Desember 2022/     31 Desember 2021/
                                   Nama plasma/       Tanggal Perjanjian/   (tidak diaudit/     (tidak diaudit/     Tahun berlaku/       Balance as of       Balance as of         Balance as of
  Entitas/Parties                  Plasma name        Date of agreement       unaudited)          unaudited)           Valid for       December 31, 2023   December 31, 2022     December 31, 2021

  Perseroan/The Company             Kelompok Tani         13 Mei 2013/                                                   25 Tahun/
                                     Sepakat Jaya         May 13, 2013                  257                257            25 Years            30.536.564         23.365.179            19.731.782

                                   Kelompok Tani      24 Desember 2018/                                                  25 Tahun/
                                  Sumber Harapan      December 24, 2018                 286                286            25 Years             5.677.041          5.627.983             5.405.112

                                          Koperasi    2 September 2013/                                                  25 Tahun/
                                       Ardhamewa      September 2, 2013                  97                 97            25 Years             5.152.005          5.878.135             6.419.122

                                    Kelompok Tani      28 Agustus 2015/                                                  25 Tahun/
                                     Putra Sulung       August 28, 2015                  53                 53            25 Years             2.712.158          2.816.983             2.611.557

                                   Kelompok Tani      1 Nopember 2016/                                                   25 Tahun/
                                 Karya Tani Tebok     November 1, 2016                   93                 93            25Years              1.993.825          1.471.021             1.213.566

                                   Kelompok Tani      28 Agustus 2015/                                                   25 Tahun/
                                  Cahaya Harapan        August 28, 2015                  62                 62            25 Years             1.114.882          1.479.510             1.425.498

                                  Masyarakat Desa          9 April 2015/                                                 25 Tahun/
                                        Kenambui           April 9, 2015                0.5                 0.5           25 Years             1.237.050          1.092.852              950.010

                                    Kelompok Tani           1 Juni 2015/                                                 25 Tahun/
                                     Tani Makmur           June 1, 2015                  58                 58            25 Years              926.462             962.014              892.876

                                    Kelompok Tani      3 Februari 2015/                                                  25 Tahun/
                                    Sinar Harapan      February 3, 2015                  56                 56            25 Years              479.938             616.812              608.059

  PT Kalimantan Sawit Abadi      Koperasi Kondang
                                    Maju Bersama       3 Februari 2015/                                                  25 Tahun/
                                   Desa Kondang        February 3, 2015                  53                 53            25 Years             4.837.794          4.428.828             4.129.497

  PT Mitra Mendawai Sejati          Kelompok Tani          11 Juni 2015/                                                 25 Tahun/
                                       Sawit Raya         June 11, 2015                 174                174            25 Years             9.779.848          7.992.270             6.386.985

                                          Koperasi        16 April 2013/                                                 25 Tahun/
                                   Citra Mua Sejati       April 16, 2013                103                103            25 Years             8.723.472          8.169.090             9.101.600

                                    Kelompok Tani       18 Januari 2017/                                                 25 Tahun/
                                      Kundur Jaya      January 18, 2017                 121                121            25 Years             3.241.956          2.988.982             2.574.672

                                    Kelompok Tani         11 April 2015/                                                 25 Tahun/
                                     Rabing Raya          April 11, 2015                 81                 81            25 Years             2.254.591          1.897.895             1.869.430

                                          Koperasi      7 Oktober 2014/                                                  25 Tahun/
                                 Mitra Bina Suayap      October 7, 2014                  27                 27            25 Years             2.170.747          1.720.844             1.508.600

                                    Kelompok Tani      11 Januari 2018/                                                  25 Tahun/
                                        Hasanudin      Januari 18, 2018                 132                132            25 Years             1.906.157          1.779.081             1.651.264

                                   Kelompok Tani        05 Januari 2015/                                                 25 Tahun/
                                 Sungai P. Mandiri     January 05, 2015                  55                 55            25 Years             1.785.675          1.695.499             1.580.033

                                   Kelompok Tani       16 Oktober 2017/                                                  25 Tahun/
                                  Umpang Bersatu       October 16, 2017                  72                 72            25 Years             1.481.508          1.295.780             1.170.605

                                    Kelompok Tani            6 Juli 2017/                                                25 Tahun/
                                 Mitra Runtu Sejati         July 6, 2017                 83                 83            25 Years              939.529             890.951               826.831

                                     Kelompok Tani           6 Juli 2017/                                                25 Tahun/
                              Mitra Runtu Sejahtera        July 06, 2017                 50                 50            25 Years              830.650             774.972              719.295

  PT Tanjung Sawit Abadi                 Koperasi         30 Mei 2014/                                                   25 Tahun/
                                 Melata Jaya Indah        May 30, 2014                  341                341            25 Years            26.761.583         24.291.380            21.897.719

                                          Koperasi          8 Juni 2012/                                                 25 Tahun/
                                 Seluai Jaya Abadi         June 8, 2012                 345                345            25 Years            19.375.537         18.672.389            16.454.290

                                         Koperasi     27 September 2013/                                                 25 Tahun/
                                      Maraga Jaya     September 27, 2013                314                314            25 Years            18.650.572         14.685.080            13.434.799

                                         Koperasi      23 Agustus 2013/                                                  25 Tahun/
                                  Batu Dara Omas        August 23, 2013                 161                161            25 Years            11.249.947          8.864.980             5.837.050

                                 Koperasi Harapan     14 Februari 2014/                                                  25 Tahun/
                                   Bersama Abadi      February 14, 2014                  16                 16            25 Years             1.939.628          1.549.471             1.197.250

  PT Menteng Kencana Mas                  Koperasi    18 Desember 2017/                                                  25 Tahun/
                                        Sumber Air    December 18, 2017               1.392              1.392            25 Years           248.470.850        180.259.733           131.041.164

                                    Koperasi Sawit         12 Juni 2018/
                                    Maliku Mandiri        June 12, 2018                 434              1.281           25 Tahun/
                                       Sumber Air     September 7, 2009               1.392              1.747            25 Years            90.586.657         73.852.917            45.961.371

                                  Koperasi Tarung      21 Februari 2022/                126                118            25 Tahun/            5.322.046          2.426.429                     -
                                         Manuah        February 21, 2022                                                   25 Years




                                                                                               79




                                                                                                                                                                                                                    367
                                                                                                                                                                    PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                                                               Laporan Tahunan 2023 Annual Report
Page 368
                                                                                                                                            The original consolidated financial statements included herein
                                                                                                                                                                          are in the Indonesian language.

                                  PT SAWIT SUMBERMAS SARANA Tbk.                                                                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                        DAN ENTITAS ANAKNYA                                                                                              AND ITS SUBSIDIARIES
                                     Catatan atas Laporan Keuangan                                                                                     Notes to the CONSOLIDATED
                                             KONSOLIDASIAN                                                                                                 financial statements
                                       Tanggal 31 Desember 2023                                                                                          As of December 31, 2023
                                      dan untuk tahun yang berakhir                                                                                      and for year then ended
                                          pada tanggal tersebut                                                                                     (Expressed in thousands of Rupiah,
                                     (Disajikan dalam ribuan Rupiah,                                                                                     unless otherwise stated)
                                         kecuali dinyatakan lain)


                      16. PIUTANG PLASMA (lanjutan)                                                                                      16. PLASMA RECEIVABLES (continued)

                            Perkebunan Plasma (lanjutan)                                                                                         Plasma Plantations (continued)

                            Dibawah ini adalah informasi kelompok tani dan                                                                       Below are information of farmers and villagers,
                            masyarakat desa yang mempunyai piutang plasma                                                                        which have plasma receivables above Rp500,000.
                            diatas Rp500.000. (lanjutan)                                                                                         (continued)

                            Kelompok Tani (lanjutan)                                                                                             Farmers (continued)
                                                                                                       Luas kebun           Luas yang dikelola
                                                                                                         dalam Hektar/        dalam Hektar/
                                                                                                           Estate area        Managed area                             Saldo per             Saldo per           Saldo per
                                                                                                            in Hectare           in Hectare                       31 Desember 2023/      31 Desember 2022/   31 Desember 2021/
                                                              Nama plasma/      Tanggal Perjanjian/      (tidak diaudit/      (tidak diaudit/    Tahun berlaku/      Balance as of         Balance as of       Balance as of
                          Entitas/Parties                     Plasma name       Date of agreement          unaudited)           unaudited)          Valid for      December 31, 2023     December 31, 2022   December 31, 2021


                          PT Sawit Multi Utama              Koperasi Pusaka         13 Mei 2014/                                                      25 Tahun/
                                                              Bulau Sahabun         May 13, 2014                      359                382           25 Years           31.113.319           32.881.057          25.969.990

                                                                   Koperasi         21 Mei 2012/                                                      25 Tahun/
                                                            Bina Semua Jaya         May 21, 2012                      416                416           25 Years           26.994.355           23.507.412          13.907.170

                                                                    Koperasi    10 September 2013/                                                    25 Tahun/
                                                               Rimba Baguna     September 10, 2013                    140                140           25 Years           13.396.392           14.511.389          10.362.019

                                                                    Koperasi    10 September 2013/                                                    25 Tahun/
                                                         Natai Suka Sejahtera   September 10, 2013                    105                109           25 Years            8.378.336            5.870.123           4.074.278

                                                            Koperasi Harapan     13 Oktober 2014/                                                     25 Tahun/
                                                            Makmur Bersama       October 13, 2014                     215                242           25 Years            4.260.528            1.489.977            658.141

                          Saldo dilanjutkan/
                          Balance carried forward                                                                                                                        594.281.602          479.807.018         309.631.655




                            Masyarakat                                                                                                           Villagers
                                                                                                           Luas kebun       Luas yang dikelola
                                                                                                          dalam Hektar/       dalam Hektar/
                                                                                                            Estate area       Managed area                             Saldo per             Saldo per           Saldo per
                                                                                                             in Hectare          in Hectare                       31 Desember 2023/      31 Desember 2022/   31 Desember 2021/
                                                              Nama plasma/      Tanggal Perjanjian/       (tidak diaudit/     (tidak diaudit/    Tahun berlaku/      Balance as of         Balance as of       Balance as of
                          Entitas/Parties                     Plasma name       Date of agreement           unaudited)          unaudited)          Valid for      December 31, 2023     December 31, 2022   December 31, 2021


                          Saldo dilanjutkan/
                          Balance brought forward                                                                                                                        594.281.602          479.807.018         309.631.655

                          PT Kalimantan Sawit Abadi          Masyarakat Desa           1 Juli 2013/                                                   25 Tahun/
                                                                  Natai Baru          July 1, 2013                     10                 10           25 Years            1.338.223            1.102.792            983.324

                                                             Masyarakat Desa        4 Maret 2015/                                                     25 Tahun/
                                                                    Kondang         March 4, 2015                      10                 10           25 Years             641.992               620.202            671.469

                          PT Sawit Multi Utama               Masyarakat Desa           1 Juli 2013/                                                   25 Tahun/
                                                                Nanga Koring          July 1, 2013                     10                 10           25 Years             677.833               728.501            755.104

                                                             Masyarakat Desa          1 Juni 2015/                                                    25 Tahun/
                                                                  Sepondam           June 1, 2015                       5                  9           25 Years             632.940               699.889            831.441

                          PT Tanjung Sawit Abadi             Masyarakat Desa         18 Juni 2012/                                                    25 Tahun/
                                                                     Topalan        June 18, 2012                      10                 10           25 Years             788.669               867.356            930.839

                                                             Masyarakat Desa         18 Juni 2012/                                                    25 Tahun/
                                                                 Batu Ampar         June 18, 2012                       8                  8           25 Years             768.919               646.660            503.801

                          Lain-lain/
                          Others                                                                                                                                          26.682.305           21.064.623          67.366.028

                                                                                                                                                                         625.812.483          505.537.041         381.673.661
                          Dikurangi dengan penyisihan penurunan nilai/
                          Less allowance for impairement                                                                                                                 (37.274.799 )                  -                   -

                                                                                                                                                                         588.537.684          505.537.041         381.673.661




                           Mutasi atas penyisihan penurunan nilai piutang                                                                        Movements in the allowance for declining in value
                           plasma adalah sebagai berikut:                                                                                        of plasma receivables are as follows:

                                                                                                      31 Desember 2023/              31 Desember 2022/
                                                                                                      December 31, 2023              December 31, 2022

                            Saldo awal                                                                                        -                              -                               Beginning Balance
                            Tambahan penyisihan atas                                                                                                                        Additions of allowance for declining
                               penurunan nilai piutang plasma                                                                                                                in value of plasma receivables
                               (Catatan 31)                                                                   37.274.799                                     -                                    (Note 31)

                                                                                                              37.274.799                                     -




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368 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 369
                                                                           The original consolidated financial statements included herein
                                                                                                         are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                              PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                                         AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                                Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                            financial statements
           Tanggal 31 Desember 2023                                                     As of December 31, 2023
          dan untuk tahun yang berakhir                                                 and for year then ended
              pada tanggal tersebut                                                (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                                unless otherwise stated)
             kecuali dinyatakan lain)


16. PIUTANG PLASMA (lanjutan)                                            16. PLASMA RECEIVABLES (continued)

   Berdasarkan penelaahan atas piutang plasma dari                             Based on a review of the plasma receivables of
   tiap-tiap proyek pada tanggal 31 Desember 2023,                             each project as of December 31, 2023, 2022, and
   2022, dan 2021, manajemen berkeyakinan bahwa                                2021, management believes that the allowance for
   penyisihan atas penurunan nilai piutang plasma                              impairment of plasma receivables is sufficient to
   sudah cukup untuk menutup kerugian yang timbul                              cover the possible losses due to the allowance for
   akibat adanya penurunan nilai piutang plasma.                               declining in value of plasma receivables.

   Beberapa entitas anak Perseroan memberikan                                  Certain subsidiaries of the Company's provided
   penjaminan atas fasilitas dari perbankan yang                               guarantees for banking facilities obtained by
   diperoleh       beberapa            kelompok      tani                      several farmer groups ("Cooperatives/Plasma").
   ("Koperasi/Plasma"). Selain jaminan dari beberapa                           Beside the guarantees from certain subsidiaries,
   entitas anak, fasilitas ini juga dijamin dengan kebun                       this facility is also guaranteed by the oil palm
   kelapa sawit milik masing-masing Koperasi.                                  plantation owned by each Cooperative.

17. ASET LANCAR LAINNYA                                                  17. OTHER CURRENT ASSETS
                                                              Disajikan kembali - Catatan 4/
                                                                  As restated - Note 4

                                                                                1 Januari 2022/
                                                                                January 1, 2022/
                                      31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                      December 31, 2023   December 31, 2022    December 31, 2021


    Aset lancar lainnya                                                                                              Other current assets
    Pihak ketiga                                                                                                              Third parties
    Bank yang dibatasi penggunaannya                                                                              Restricted cash in banks
       PT Bank Negara Indonesia                                                                              PT Bank Negara Indonesia
          (Persero) Tbk                     888.190.872                    -                     -                    (Persero) Tbk

    Total aset lancar lainnya               888.190.872                    -                     -               Total other current assets


    Aset tidak lancar lainnya                                                                                   Other non-current assets
    Pihak berelasi (Catatan 34)                                                                                     Related party (Note 34)
    Deposit sewa gedung                       7.577.280           7.577.280              7.577.280                  Building rental deposits
    Uang muka sewa gedung kantor                      -          40.982.771                             Advances for rental of office building
    Uang muka aset tetap                              -           1.625.000                      -                 Advance for fixed assets
    Deposito yang dibatasi penggunaannya              -                   -              2.000.000                      Restricted deposits

                                              7.577.280          50.185.051              9.577.280

    Pihak ketiga                                                                                                                Third parties
    Uang muka pembelian aset tetap          122.261.887          72.490.537            10.933.514    Advances for purchasing of fixed assets
    Deposito yang dibatasi penggunaannya      6.007.575           6.007.575             6.007.575                   Restricted time deposits
    Uang jaminan                              3.170.277           3.235.057             2.981.081                          Security deposits
    Upfront fee untuk pinjaman bank                   -           8.750.000                     -                 Upfront fee for Bank Loan
    Lain-lain                                   340.032             661.253               792.602                                     Others

    Total aset tidak lancar lainnya         139.357.051         141.329.473            30.292.052           Total other non-current assets


   Bank yang dibatasi penggunaannya                                            Restricted cash in banks
   Pada tanggal 12 Juli 2023, Pemerintah Republik                              On July 12, 2023, the Government of the
   Indonesia mengeluarkan Peraturan Pemerintah No.                             Republic of Indonesia issued Government
   36 Tahun 2023 yang mengatur tentang devisa hasil                            Regulation No. 36 of 2023 which regulates the
   ekspor, valuta asing dan pembayaran impor untuk                             cash proceeds from export sales, foreign
   bisnis di sektor pertambangan, perkebunan,                                  exchange and import payments for business
   kehutanan dan perikanan.                                                    in mining, plantation, forestry, and fishery
                                                                               sectors.




                                                                 81




                                                                                                                                                                369
                                                                                                                    PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                           Laporan Tahunan 2023 Annual Report
Page 370
                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                financial statements
                                    Tanggal 31 Desember 2023                                         As of December 31, 2023
                                   dan untuk tahun yang berakhir                                     and for year then ended
                                       pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
                                      kecuali dinyatakan lain)


                      17. ASET LANCAR LAINNYA (lanjutan)                                 17. OTHER CURRENT ASSETS (continued)

                            Berdasarkan Peraturan Pemerintah tersebut, 30%                  Based on this Government Regulation, 30% of
                            dari devisa hasil ekspor, dengan nilai ekspor paling            the cash proceeds from export sales that have
                            sedikit Dollar AS 250.000 atau ekuivalennya, wajib              export values of at least US$ 250,000 or its
                            ditempatkan ke dalam rekening khusus dengan                     equivalent stated in an export customs
                            jangka waktu paling singkat tiga bulan. Peraturan ini           declaration must be placed in the special account
                            berlaku efektif sejak tanggal 1 Agustus 2023.                   for a holding period of at least three months. This
                            Perusahaan telah melaksanakan kewajiban untuk                   regulation became effective on 1 August 2023.
                            menempatkan Devisa Hasil Ekspor Sumber Daya                     The Company has carried out the obligation to
                            Alam (DHE SDA) ke dalam rekening khusus dan                     place Devisa Hasil Ekspor Sumber Daya Alam
                            disajikan sebagai bagian dari "Bank yang dibatasi               (DHE SDA) into the special accounts and are
                            penggunaannya" dalam laporan posisi keuangan.                   presented as part of “Restricted cash in bank” in
                                                                                            the statements of financial position.

                            Bank yang dibatasi penggunaannya digunakan                      Restricted cash in bank were pledged as
                            sebagai jaminan atas pinjaman bank (Catatan 22).                collateral for bank loans (Note 22).

                            Deposito yang dibatasi penggunaannya                            Restricted time deposits
                            Pada tanggal 31 Desember 2023 dan 31 Desember                   As of December 31, 2023 and December 31,
                            2022, deposito yang dibatasi penggunaannya                      2022, a restricted time deposit represented a
                            merupakan deposito yang ditempatkan pada PT                     time deposit placed in PT Bank Rakyat Indonesia
                            Bank Rakyat Indonesia (Persero) Tbk. (BRI) yang                 (Persero) Tbk. (BRI) which was restricted to use
                            digunakan sebagai jaminan atas pinjaman                         due to it was pledged for the Company loan to
                            Perseroan kepada BRI. (Catatan 22)                              BRI. (Note 22)

                            Uang muka pembelian aset tetap                                  Advances for purchasing of fixed assets

                            Pada tanggal 31 Desember 2023, uang muka                        As of December 31, 2023, advances for
                            pembelian aset tetap merupakan uang muka                        purchasing of fixed assets are related to
                            sehubungan dengan penyelesaian pembangunan                      completion of the construction of oil storage tank
                            tangki penyimpanan minyak di Tempenek dan uang                  in Tempenek and advance for purchasing of
                            muka pembelian atas perabotan dan peralatan.                    furnitures and equipment.

                            Upfront fee untuk pinjaman bank                                  Upfront fee for Bank Loan
                            Pada tanggal 31 Desember 2022, komisi dibayar di                As of December 31, 2022, the upfront fee for bank
                            muka untuk pinjaman bank merupakan upfront fee                  loan represents the upfront fee paid by the
                            yang dibayarkan oleh Perseroan sehubungan                       Company in connection with the Syndicated Loan
                            dengan Pinjaman Sindikasi yang ditarik pada bulan               drawn in December 2022 (Note 22).
                            Desember 2022 (Catatan 22).




                                                                                    82




370 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 371
                                                                           The original consolidated financial statements included herein
                                                                                                         are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                              PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                                         AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                                Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                            financial statements
           Tanggal 31 Desember 2023                                                     As of December 31, 2023
          dan untuk tahun yang berakhir                                                 and for year then ended
              pada tanggal tersebut                                                (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                                unless otherwise stated)
             kecuali dinyatakan lain)


18. UTANG USAHA DAN UTANG LAIN-LAIN - PIHAK                               18. TRADE AND OTHER PAYABLES - THIRD
    KETIGA                                                                    PARTIES
                                                              Disajikan kembali - Catatan 4/
                                                                  As restated - Note 4

                                                                                 1 Januari 2022/
                                                                                 January 1, 2022/
                                     31 Desember 2023/    31 Desember 2022/     31 Desember 2021/
                                     December 31, 2023    December 31, 2022     December 31, 2021

    Utang usaha - dalam Rupiah                                                                                 Trade payables - in Rupiah
       PT Multi Usaha Abadi                103.265.696           64.284.697           108.258.639                 PT Multi Usaha Abadi
       PT Sawit Mandiri Lestari             63.341.165           60.160.366            17.153.008              PT Sawit Mandiri Lestari
       Koperasi Sumber Air Jaya             26.191.646           11.003.757            11.655.334             Koperasi Sumber Air Jaya
       PT Gemareksa Mekarsari                7.823.161                                          -             PT Gemareksa Mekarsari
       PT Satria Hupasarana                  6.478.900             2.621.374                    -                PT Satria Hupasarana
       Koperasi Seluai Jaya Abadi            5.218.450                                          -           Koperasi Seluai Jaya Abadi
       PT Borneo Langgeng Sejahtera          2.520.850                511.550          26.248.062        PT Borneo Langgeng Sejahtera
       Lain-lain (jumlah masing-masing                                                                              Others (individually
          kurang dari Rp5.000.000)          64.953.747                214.447          40.650.511            each below Rp5,000,000)

                                           279.793.615          138.796.191           203.965.554


    Utang lain-lain - dalam Rupiah                                                                           Other payables - in Rupiah
       PT Borneo Langgeng Sejahtera        338.804.490          614.953.044           240.121.736       PT Borneo Langgeng Sejahtera
       PT Banua Sarana Jaya                 72.797.216           21.377.536            12.445.746               PT Banua Sarana Jaya
       PT Karyatama Unggul Sejahtera        44.514.950           10.071.582            11.437.459      PT Karyatama Unggul Sejahtera
       PT Hanau Perkasa Beton               22.559.099            6.216.856               736.141             PT Hanau Perkasa Beton
       PT Gunawan Berkat Sejahtera          16.793.619            8.733.630             4.679.962        PT Gunawan Berkat Sejahtera
       CV Mitra Sohibulhajat Engineering    10.202.296            9.598.817             1.415.250     CV Mitra Sohibulhajat Engineering
       PT Agritama Multi Sarana              9.273.176            3.042.958             4.245.967             PT Agritama Multi Sarana
       PT Binausaha Karta Arkasa             6.420.795            5.565.349             2.453.884           PT Binausaha Karta Arkasa
       CV Ligar                              3.378.983            2.894.238             6.801.518                              CV Ligar
       CV Sarana Prima Lestari               1.992.404            1.519.540             5.592.510              CV Sarana Prima Lestari
       PT Trakindo Utama                     1.622.064           14.933.276            13.288.483                   PT Trakindo Utama
       PT Bimaruna Niaga Sejahtera           1.508.011            1.391.613            12.040.741        PT Bimaruna Niaga Sejahtera
       CV Tiga Putra Perkasa                 1.468.553            1.175.939             5.700.272               CV Tiga Putra Perkasa
       Lain-lain (jumlah masing-masing                                                                              Others (individually
          kurang dari Rp5.000.000)         185.842.367          135.894.864           135.202.842             each below Rp5,000,000)

                                           717.178.023          837.369.242           456.162.511
      Dikurangi: dampak                                                                                                Less: impact on
         penyesuaian nilai wajar           (14.342.982)                     -                   -        the adjustment of fair value

                                           702.835.041          837.369.242           456.162.511


   Utang usaha merupakan utang atas pembelian                                   Trade payables represent payables for purchases of
   tandan buah segar.                                                           fresh fruit bunches.

   Utang lain-lain sebagian besar merupakan utang                               Other payables mostly represent payables to
   kepada pemasok atas pembelian suku cadang dan                                supplier for purchasing of spareparts and fertilizers.
   pupuk.

   Berdasarkan surat permohonan penangguhan                                     Based on the letter requesting the postponement of
   pembayaran utang kepada PT Borneo Langgeng                                   payment payables to PT Borneo Langgeng
   Sejahtera (BLS) tanggal 29 Juni 2023, Kelompok                               Sejahtera (BLS) dated June 29, 2023, the Group
   Usaha meminta penundaan pembayaran utang                                     requested to postpone repayment of payables to
   kepada BLS sebesar Rp620.239.858 atas                                        BLS of Rp620,239,858 for the purchase of fertilizers
   pembelian pupuk sehingga akan jatuh tempo pada                               so it will mature in July 2024. On June 30, 2023, BLS
   Juli 2024. Pada tanggal 30 Juni 2023, BLS                                    agreed to the Group’s request. Therefore, the
   menyatakan setuju atas permohonan Kelompok                                   Group's Management recorded the fair value of the
   Usaha. Oleh karena hal ini, Manajemen Kelompok                               outstanding balance on June 30, 2023 amounting to
   Usaha mencatat nilai wajar atas saldo terhutang                              Rp52,514,588. During 2023, the amortization cost of
   pada tanggal 30 Juni 2023 sebesar Rp52.514.588.                              fair value other payable was Rp38,171,606.
   Dampak atas amortisasi nilai wajar selama tahun                              (Note 32)
   2023 sebesar Rp38.171.606. (Catatan 32)


                                                                 83




                                                                                                                                                              371
                                                                                                                  PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                         Laporan Tahunan 2023 Annual Report
Page 372
                                                                                                    The original consolidated financial statements included herein
                                                                                                                                  are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                              PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                         AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                            financial statements
                                      Tanggal 31 Desember 2023                                                     As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                 and for year then ended
                                         pada tanggal tersebut                                                (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                unless otherwise stated)
                                        kecuali dinyatakan lain)


                      18. UTANG USAHA DAN UTANG LAIN-LAIN - PIHAK                                 18. TRADE AND OTHER PAYABLES - THIRD
                          KETIGA (lanjutan)                                                           PARTIES (continued)

                            Pada tanggal 31 Desember 2023, 2022, dan 2021,                              As of December 31, 2023, 2022, and 2021, trade
                            saldo utang usaha dan utang lain-lain pihak ketiga                          and other payables to third parties are unsecured
                            tidak memiliki jaminan dan tidak dikenakan bunga.                           and non-interest bearing. There have been no
                            Tidak ada surat jaminan yang diberikan oleh                                 guarantees provided by the Group for any trade and
                            Kelompok Usaha untuk utang usaha dan utang lain-                            other payables to third parties.
                            lain - pihak ketiga.


                      19. PENDAPATAN DITERIMA DI MUKA                                             19. UNEARNED REVENUE
                                                                                       Disajikan kembali - Catatan 4/
                                                                                            As restated - Note 4
                                                                                                          1 Januari 2022/
                                                                                                          January 1, 2022/
                                                               31 Desember 2023/   31 Desember 2022/     31 Desember 2021/
                                                               December 31, 2023   December 31, 2022     December 31, 2021

                             Pihak berelasi (Catatan 34b)                                                                                 Related party (Note 34b)
                             PT Bank Perkreditan Rakyat                                                                                PT Bank Perkreditan Rakyat
                                Lingga Sejahtera                       2.000.000                    -                     -                   Lingga Sejahtera
                             Pihak ketiga                                                                                                             Third parties
                             PT Dua Kuda Indonesia                    46.886.115           43.534.118                     -                PT Dua Kuda Indonesia
                             CV Cahaya Indah Terang Abadi              5.007.037                    -                     -         CV Cahaya Indah Terang Abadi
                             Koperasi Media                                                                                                        Koperasi Media
                                Sejahtera Bersama                      4.010.324                    -                     -                 Sejahtera Bersama
                             PT Tanimas Edible Oil                     2.806.972                    -                     -                 PT Tanimas Edible Oil
                             PT Cipta Padang Berlian                   1.060.035              648.884                     -               PT Cipta Padang Berlian
                             PT Multi Usaha Abadi                      1.019.366                    -                     -                  PT Multi Usaha Abadi
                             PT Cisadane Raya Chemicals                  782.695                    -                     -          PT Cisadane Raya Chemicals
                             PT Sino Zone Industry Indonesia                   -           42.661.316                     -        PT Sino Zone Industry Indonesia
                             PT Fokus Ritel Indoprima                          -           22.472.533                     -               PT Fokus Ritel Indoprima
                             CV Mega Setia                                     -            7.145.334                     -                        CV Mega Setia
                             PT Rajawali Nusindo                               -            6.221.037                     -                   PT Rajawali Nusindo
                             PT Lumbung Sawit Mas                              -            6.183.091                     -                PT Lumbung Sawit Mas
                             PT Sentana Prima Unggul                           -            5.661.032                     -              PT Sentana Prima Unggul
                             PT Mas Lahan Agro                                 -                    -               588.660                    PT Mas Lahan Agro
                             Lain-lain (jumlah masing-masing                                                                                    Others (individually
                                kurang dari Rp500.000)                  905.948            15.098.789               563.433              each below Rp500,000)

                                                                      64.478.492         149.626.134              1.152.093

                            Pendapatan diterima di muka merupakan uang                                  Unearned revenue represents advances received
                            muka yang diterima dari pelanggan sehubungan                                from customers in relation to sales of crude palm
                            dengan penjualan minyak kelapa sawit, inti sawit,                           oil, palm kernel, and palm shells.
                            dan cangkang.

                      20. PERPAJAKAN                                                               20. TAXATION

                            a.    Pajak dibayar dimuka                                                  a.    Prepaid taxes
                                                                                       Disajikan kembali - Catatan 4/
                                                                                            As restated - Note 4

                                                                                                          1 Januari 2022/
                                                                                                          January 1, 2022/
                                                               31 Desember 2023/   31 Desember 2022/     31 Desember 2021/
                                                               December 31, 2023   December 31, 2022     December 31, 2021

                                  Perseroan                                                                                                          The Company
                                  Pajak Pertambahan Nilai             15.511.385           15.708.181            14.147.412                       Value Added Tax
                                  Entitas anak                                                                                                        Subsidiaries
                                  Pajak Pertambahan Nilai           151.366.699           128.220.269           237.423.670                       Value Added Tax
                                                                     166.878.084          143.928.450           251.571.082




                                                                                          84




372 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 373
                                                                           The original consolidated financial statements included herein
                                                                                                         are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                               PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                                          AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                                 Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                             financial statements
             Tanggal 31 Desember 2023                                                      As of December 31, 2023
            dan untuk tahun yang berakhir                                                  and for year then ended
                pada tanggal tersebut                                                 (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                                 unless otherwise stated)
               kecuali dinyatakan lain)


20. PERPAJAKAN                                                           20. TAXATION

   b.    Taksiran tagihan restitusi pajak - jangka                              b.    Estimated claims for tax refund - current
         pendek
                                                             Disajikan kembali - Catatan 4/
                                                                    As restated - Note 4

                                                                                 1 Januari 2022/
                                                                                 January 1, 2022/
                                       31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                       December 31, 2023   December 31, 2022    December 31, 2021

          Perseroan                                                                                                        The Company
          Lebih bayar pajak
             Pajak Pertambahan Nilai                                                                         Refundable Value Added Tax
          - Tahun 2019                          692.538                     -           27.880.622                       Year 2019 -


   c.    Taksiran tagihan restitusi pajak - jangka                              c.    Estimated claims for tax refund - non-
         panjang                                                                      current

                                                              Disajikan kembali - Catatan 4/
                                                                   As restated - Note 4

                                                                                 1 Januari 2022/
                                                                                 January 1, 2022/
                                       31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                       December 31, 2023   December 31, 2022    December 31, 2021

          Perseroan                                                                                                        The Company
          Lebih bayar pajak
            Pajak penghasilan                                                                                       Refundable corporate
                badan                                                                                                 income tax (CIT)
            - Tahun 2023                      59.239.317                   -                     -                        Year 2023 -
            - Tahun 2022                      42.991.781          37.289.579                     -                        Year 2022 -
            - Tahun 2019                               -          17.313.431            17.313.431                        Year 2019 -
          Lebih bayar pajak
            Pajak Pertambahan Nilai                                                                          Refundable Value Added Tax
            - Tahun 2019                               -           2.821.245             2.821.245                       Year 2019 -

                                             102.231.098          57.424.255            20.134.676

          Entitas anak                                                                                                       Subsidiaries
          Lebih bayar pajak
            Pajak penghasilan badan                                                                       Refundable corporate income tax
            - Tahun 2023                      61.412.486                   -                     -                         Year 2023 -
            - Tahun 2019                               -                   -            10.793.021                         Year 2019 -
            - Tahun 2016                       7.636.922           7.636.922             7.636.922                         Year 2016 -

          Lebih bayar pajak
            Pajak Pertambahan Nilai                                                                          Refundable Value Added Tax
            - Tahun 2019                               -                    -           10.539.006                         Year 2019 -
          Lebih bayar pajak lainnya                    -                    -              215.285                  Other tax receivables

                                              69.049.408           7.636.922            29.184.234

          Total                              171.280.506          65.061.177            49.318.910                                   Total




                                                                 85




                                                                                                                                                             373
                                                                                                                  PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                        Laporan Tahunan 2023 Annual Report
Page 374
                                                                                                       The original consolidated financial statements included herein
                                                                                                                                     are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                                 financial statements
                                      Tanggal 31 Desember 2023                                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                      and for year then ended
                                         pada tanggal tersebut                                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      20. PERPAJAKAN (lanjutan)                                                       20. TAXATION (continued)

                            d.     Utang pajak                                                               d.    Taxes payable
                                                                                        Disajikan kembali - Catatan 4/
                                                                                                  As restated - Note 4

                                                                                                               1 Januari 2022/
                                                                                                               January 1, 2022/
                                                               31 Desember 2023/      31 Desember 2022/       31 Desember 2021/
                                                               December 31, 2023      December 31, 2022       December 31, 2021

                                 Perseroan                                                                                                            The Company
                                   Pajak penghasilan - Pasal 4(2)         97.459                   90.194                 83.407              Income tax - Article 4(2)
                                   Pajak penghasilan - Pasal 15           87.190                   24.672                 16.252                Income tax - Article 15
                                   Pajak penghasilan - Pasal 21        2.382.091                4.847.666              1.572.714                Income tax - Article 21
                                   Pajak penghasilan - Pasal 23/26     2.608.617                3.404.791              8.458.211            Income tax - Article 23/26
                                   Pajak penghasilan - Pasal 22           70.210                   41.310                  8.890                Income tax - Article 22
                                   Pajak penghasilan - Pasal 29                -                        -             51.136.236                Income tax - Article 29

                                                                       5.245.567                8.408.633             61.275.710


                                 Entitas anak                                                                                                            Subsidiaries
                                   Pajak penghasilan - Pasal 4(2)        406.089                539.125                  432.997            Income tax - Article 4(2)
                                   Pajak penghasilan - Pasal 15          155.529                140.608                  244.208              Income tax - Article 15
                                   Pajak penghasilan - Pasal 21        1.586.219              1.932.167                1.099.764              Income tax - Article 21
                                   Pajak penghasilan - Pasal 22          621.569                530.383                  615.311              Income tax - Article 22
                                   Pajak penghasilan - Pasal 23/26     1.159.642              2.145.839                1.904.170          Income tax - Article 23/26
                                   Pajak penghasilan - Pasal 24        5.078.539                      -                        -              Income tax - Article 24
                                   Pajak penghasilan - Pasal 29        9.340.971            184.136.146              171.811.411              Income tax - Article 29
                                   Pajak pertambahan nilai                 1.597                      -                        -                  Value added taxes

                                                                      18.350.155            189.424.268              176.107.861

                                 Total                                23.595.722            197.832.901              237.383.571                                 Total



                            e. Komponen pajak penghasilan badan                                              e.    Components of corporate income tax
                                                                                Untuk tahun yang berakhir
                                                                               pada Tanggal 31 Desember/
                                                                            For the years ended December 31,

                                                                                                            2022
                                                                                                    (Disajikan kembali -
                                                                                                        Catatan 4)/
                                                                                                       (As restated -
                                                                                    2023                   Note 4)
                                 Perseroan                                                                                                         The Company
                                 Beban pajak kini:                                                                                           Current tax expense:
                                 - Tahun berjalan                                  12.675.115               65.614.673                               Current year -
                                 - Lebih akru tahun sebelumnya                                                                             Overaccrued previous -
                                      sebelumnya (Catatan 20g)                               -              (11.413.589)                   years CIT (Note 20g)
                                 Manfaat pajak tangguhan                           (20.740.070)             (11.887.022)                       Deferred tax benefit

                                                                                    (8.064.955)             42.314.062

                                 Entitas anak                                                                                                       Subsidiaries
                                 Beban pajak kini:                                                                                           Current tax expense:
                                 - Tahun berjalan                              244.312.863              449.093.818                                 Current year -
                                 - Kurang akru tahun sebelumnya                                                                           Underaccrued previous -
                                       sebelumnya (Catatan 20g)                              -                9.573.985                   years CIT (Note 20g)
                                 Manfaat pajak tangguhan                           (28.018.428)             (11.217.538)                      Deferred tax benefit
                                                                               216.294.433              447.450.265




                                                                                            86




374 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 375
                                                                     The original consolidated financial statements included herein
                                                                                                   are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                      financial statements
             Tanggal 31 Desember 2023                                               As of December 31, 2023
            dan untuk tahun yang berakhir                                           and for year then ended
                pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
               kecuali dinyatakan lain)


20. PERPAJAKAN (lanjutan)                                           20. TAXATION (continued)
   e.    Komponen         pajak    penghasilan      badan                e.    Components         of    corporate     income        tax
         (lanjutan)                                                            (continued)
                                                    Untuk tahun yang berakhir
                                                   pada Tanggal 31 Desember/
                                                For the years ended December 31,

                                                                          2022
                                                                  (Disajikan kembali -
                                                                      Catatan 4)/
                                                                     (As restated -
                                                    2023                 Note 4)

        Konsolidasian                                                                                               Consolidated
        Beban pajak kini                                                                                     Current tax expense
        - Tahun berjalan                          256.987.975         514.708.491                                   Current year -
        - Lebih akru tahun sebelumnya                        -         (1.839.604)                 Overaccrued previous years CIT
        Manfaat pajak tangguhan                   (48.758.495 )       (23.104.560)                            Deferred tax benefit
                                                  208.229.480         489.764.327


        Dibebankan ke penghasilan                                                               Charged to other comprehensive
           komprehensif lain                                                                                            income
           Pajak tangguhan:                                                                                       Deferred tax:
            Kerugian/(keuntungan) atas                                                            Re-measurement loss/(gain) of
                pengukuran kembali                                                                 employee benefits liability
                liabilitas imbalan kerja             2.732.794          (9.689.813)



   f.    Rekonsiliasi pajak penghasilan badan                            f.    Reconciliation of corporate income tax

         Rekonsiliasi antara laba sebelum pajak                                The reconciliation between consolidated profit
         penghasilan badan konsolidasian seperti yang                          before corporate income tax as shown in the
         tercantum dalam laporan laba rugi dan                                 consolidated statements of profit or loss and
         penghasilan komprehensif lain konsolidasian                           other comprehensive income and the estimated
         dan taksiran laba kena pajak dan beban pajak                          taxable income and current tax expense are as
         kini adalah sebagai berikut:                                          follows:
                                                    Untuk tahun yang berakhir
                                                   pada Tanggal 31 Desember/
                                                For the years ended December 31,

                                                                          2022
                                                                  (Disajikan kembali -
                                                                      Catatan 4)/
                                                                     (As restated -
                                                    2023              Note 4)

        Laba konsolidasian sebelum
          beban pajak penghasilan                                                                              Consolidated profit
          konsolidasian                           531.028.054        1.964.686.167       before corporate income tax expense
        Laba entitas anak sebelum                                                                               Subsidiaries’ profit
          beban pajak penghasilan badan           (550.510.374)     (1.462.362.773)         before corporate income tax expense

        (Rugi)/laba sebelum pajak penghasilan                                              (Loss)/profit before corporate income tax
          badan - Perseroan                        (19.482.320)       502.323.394                  - the Company




                                                             87




                                                                                                                                                         375
                                                                                                              PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                    Laporan Tahunan 2023 Annual Report
Page 376
                                                                                              The original consolidated financial statements included herein
                                                                                                                            are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                      financial statements
                                      Tanggal 31 Desember 2023                                               As of December 31, 2023
                                     dan untuk tahun yang berakhir                                           and for year then ended
                                         pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
                                        kecuali dinyatakan lain)


                      20. PERPAJAKAN (lanjutan)                                             20. TAXATION (continued)

                            f.    Rekonsiliasi       pajak   penghasilan     badan                f.    Reconciliation of corporate income tax
                                  (lanjutan)                                                            (continued)

                                  Rekonsiliasi antara laba sebelum pajak                                The reconciliation between consollidated profit
                                  penghasilan badan konsolidasian seperti yang                          before corporate income tax as shown in the
                                  tercantum dalam laporan laba rugi dan                                 consolidated statements of profit or loss and
                                  penghasilan komprehensif lain konsolidasian                           other comprehensive income and the estimated
                                  dan taksiran laba kena pajak dan beban pajak                          taxable income and current tax expense are as
                                  kini adalah sebagai berikut: (lanjutan)                               follows: (continued)
                                                                          Untuk tahun yang berakhir
                                                                         pada Tanggal 31 Desember/
                                                                      For the years ended December 31,

                                                                                                   2022
                                                                                           (Disajikan kembali -
                                                                                               Catatan 4)/
                                                                                              (As restated -
                                                                             2023                 Note 4)
                                 Beda tetap                                                                                        Permanent differences
                                 Pendapatan setelah                                                                                               Income
                                   pengenaan pajak final                     (5.448.328)        (4.866.009)                             net of final tax
                                 Pendapatan deviden                        (103.009.500)      (297.061.357)                             Dividend income
                                 Biaya yang tidak dapat dikurangkan         143.592.042         40.183.297                       Non-deductible expenses

                                 Jumlah beda tetap                          35.134.214        (261.744.069)                   Total permanent differences
                                 Beda temporer                                                                                      Temporary differences
                                 Nilai wajar aset biologis                  (11.764.946)        57.200.672                   Fair value of biological assets
                                 Sewa                                           402.617         (8.752.202)                                          Leasing
                                 Liabilitas imbalan kerja karyawan                                                            Long-term employee benefit
                                    jangka panjang                           18.751.754         (37.976.180)                                      liabilities
                                 Penyusutan aset tetap                      (13.475.613)         (9.234.336)                   Depreciation of fixed assets
                                 Amortisasi tanaman menghasilkan              1.407.098           1.392.198            Amortization of mature plantations
                                 Bagian dari laba entitas anak               47.062.282          46.348.738                       Share of subsidiary profit
                                 Provisi biaya bonus                         (4.819.624)          7.700.000                  Provision for bonus expenses
                                 Cadangan penurunan persediaan                 (990.299)            990.299              Allowance provision for inventory
                                 Nilai wajar utang lain-lain                                                                  Fair value of other payables
                                    pihak ketiga                            (3.272.995 )                   -                               to a third party
                                 Penyisihan atas penurunan                                                             Allowance provision for impairment
                                    Piutang plasma                           8.661.991                     -                       of plasma receivables

                                 Jumlah beda temporer                       41.962.265          57.669.189                     Total temporary differences

                                 Penghasilan kena pajak
                                   - Perseroan                              57.614.159         298.248.514                Taxable income - the Company

                                 Pajak penghasilan                                                                      Corporate income tax expense on
                                   atas penghasilan berdasarkan                                                       income subject to tax at standard
                                   tarif pajak standar - 22%                12.675.115          65.614.673                          statutory rate - 22%


                                 Dikurangi:                                                                                                           Less:
                                   Pajak penghasilan Pasal - 22                (178.894)           (464.668)                      Income tax - Article 22
                                   Pajak penghasilan Pasal - 23             (42.870.161)        (47.511.853)                      Income tax - Article 23
                                   Pajak penghasilan Pasal - 25             (28.865.377)        (54.927.731)                      Income tax - Article 25

                                                                            (71.914.432)      (102.904.252)




                                                                                     88




376 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 377
                                                                 The original consolidated financial statements included herein
                                                                                               are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                KONSOLIDASIAN                                                     financial statements
          Tanggal 31 Desember 2023                                              As of December 31, 2023
         dan untuk tahun yang berakhir                                          and for year then ended
             pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
            kecuali dinyatakan lain)


20. PERPAJAKAN (lanjutan)                                      20. TAXATION (continued)
   f. Rekonsiliasi     pajak     penghasilan    badan                f.    Reconciliation of corporate income tax
      (lanjutan)                                                           (continued)
      Rekonsiliasi antara laba sebelum pajak                               The reconciliation between consollidated profit
      penghasilan badan konsolidasian seperti yang                         before corporate income tax as shown in the
      tercantum dalam laporan laba rugi dan                                consolidated statements of profit or loss and
      penghasilan komprehensif lain konsolidasian dan                      other comprehensive income and the estimated
      taksiran laba kena pajak dan beban pajak kini                        taxable income and current tax expense are as
      adalah sebagai berikut: (lanjutan)                                   follows: (continued)
                                              Untuk tahun yang berakhir
                                             pada Tanggal 31 Desember/
                                          For the years ended December 31,

                                                                      2022
                                                              (Disajikan kembali -
                                                                  Catatan 4)/
                                                                 (As restated -
                                                2023               Note 4)

      Taksiran tagihan restitusi                                                      Estimated claims for corporate income
          pajak penghasilan badan                                                                               tax refund
        - Perseroan                             59.239.317         37.289.579                                the Company -
        - Entitas anak                          61.302.529                  -                                 Subsidiaries -

                                               120.541.846         37.289.579

      Pajak penghasilan - Pasal 29                                                                     Income tax - Article 29
        - Entitas anak                           9.340.971        184.136.146                               Subsidiaries -


      Rekonsiliasi antara beban pajak penghasilan                          The reconciliation between consolidated
      badan konsolidasian yang dihitung dengan                             corporate income tax expense as computed
      menggunakan tarif pajak yang berlaku dari laba                       with the applicable tax rates from consolidated
      sebelum pajak penghasilan badan konsolidasian                        profit before corporate income tax and
      dengan beban pajak penghasilan badan seperti                         corporate income tax expense as shown in the
      yang tercantum dalam laporan laba rugi dan                           consolidated statements of profit or loss and
      penghasilan komprehensif lain konsolidasian                          other comprehensive income is as follows:
      adalah sebagai berikut:
                                              Untuk tahun yang berakhir
                                             pada Tanggal 31 Desember/
                                          For the years ended December 31,
                                                                      2022
                                                              (Disajikan kembali -
                                                                  Catatan 4)/
                                                                 (As restated -
                                                2023                 Note 4)

      Laba sebelum beban pajak                                                                                     Consolidated
        penghasilan konsolidasian              531.028.054      1.964.686.167                        profit before income tax
      Pada tarif pajak 22%                                                                                  At the tax rate 22%
        penghasilan badan                      116.826.172        500.624.588            profit before corporate income tax
      Lebih akru PPh Badan                                                                              Over accrued previous
        periode sebelumnya                                          (1.839.604)                                     years CIT
      Penyesuaian pajak tangguhan              (15.877.822)                                        Adjustment on deferred tax
      Perbedaan tetap neto dengan                                                                    Non-deductible expenses
        menggunakan tarif pajak 22%            107.171.172         (71.337.651)                        at the tax rate of 22%

      Beban pajak penghasilan sesuai                                                                 Income tax expenses
        dengan laporan laba rugi dan                                                                   per consolidated
        penghasilan komprehensif                                                          statement of profit or loss and
        konsolidasian                          208.119.522        489.764.327              other comprehensive income




                                                        89




                                                                                                                                                   377
                                                                                                        PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                              Laporan Tahunan 2023 Annual Report
Page 378
                                                                                                         The original consolidated financial statements included herein
                                                                                                                                       are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                                      PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                                 AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                        Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                                    financial statements
                                    Tanggal 31 Desember 2023                                                             As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                         and for year then ended
                                       pada tanggal tersebut                                                        (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                        unless otherwise stated)
                                      kecuali dinyatakan lain)


                      20. PERPAJAKAN (lanjutan)                                                         20. TAXATION (continued)
                           f. Rekonsiliasi            pajak       penghasilan          badan                  f.    Reconciliation of corporate income tax
                              (lanjutan)                                                                            (continued)

                                 Jumlah estimasi penghasilan kena pajak untuk                                       The 2023 estimated taxable income reflected in
                                 tahun 2023 berdasarkan perhitungan di atas                                         the above calculation will be presented in the
                                 akan disajikan dalam Surat Pemberitahuan                                           Company’s 2023 annual corporate income tax
                                 Tahunan (SPT) Perseroan 2023. Perseroan                                            return. The Company has not yet submitted its
                                 belum melaporkan SPT Badan tahun 2023                                              2023 annual corporate income tax return to the
                                 kepada kantor pajak sampai dengan tanggal                                          Tax Office as of the date of completion of these
                                 penyelesaian laporan keuangan konsolidasian                                        consolidated financial statements.
                                 ini.

                                  Perhitungan pajak penghasilan badan tahun                                         The calculation of corporate income tax for 2022
                                  2022 sesuai dengan yang dilaporkan                                                conformed with the amount reported by the
                                  Perseroan dalam SPT kepada Kantor Pajak.                                          Company to Tax Office in its tax return.

                           g. Aset dan liabilitas pajak tangguhan, neto                                       g.    Deferred tax assets and liabilities, net

                                                                                           Disajikan kembali - Catatan 4/
                                                                                               As restated - Note 4

                                                                                                                1 Januari 2022/
                                                                                                                January 1, 2022/
                                                                  31 Desember 2023/     31 Desember 2022/      31 Desember 2021/
                                                                  December 31, 2023     December 31, 2022      December 31, 2021

                                   Aset pajak tangguhan - neto                                                                                Deferred tax assets - net
                                    Perseroan                                                                                                         The Company

                                   Bagian dari laba entitas anak         36.072.677             22.235.870             15.522.253              Share of subsidiary profit
                                   Liabilitas imbalan
                                      kerja karyawan                                                                                                Long-term employee
                                      jangka panjang                     16.019.431             13.281.085             16.919.715                      benefit liabilities
                                   Provisi atas bonus                     6.076.620              8.690.000              6.996.000                     Provision of bonus
                                   Aset hak guna                         (1.250.672)             1.148.379              2.473.718                     Right of use assets
                                   Aset tetap dan                                                                                                       Fixed assets and
                                      tanaman produktif                  13.715.691                 883.442             2.608.713                        bearer plants
                                   Penyisihan atas penurunan                                                                                     Allowance for declining
                                      nilai persediaan                                             217.866                                      in value of inventories
                                   Aset biologis                        (16.767.799)           (14.179.511)           (26.763.659)                      Biological assets
                                   Penyisihan penurunan                                                                                       Allowance for impairment
                                      piutang plasma                      1.905.638                       -                     -                  plasma receivables
                                   Nilai wajar atas utang lain-lain                                                                         Fair value of other payables
                                      pihak ketiga                         (720.059)                      -                     -                       to a third party

                                                                         55.051.527             32.277.131             17.756.740
                                   Entitas anak                          87.734.569             77.945.010             71.682.039                           Subsidiaries

                                                                        142.786.096            110.222.141             89.438.779

                                   Liabilitas pajak tangguhan                                                                                   Deferred tax liabilities
                                      - neto                                                                                                                    net -
                                   Entitas anak                          38.195.747             67.757.148             79.471.800                      Subsidiaries


                                 Berdasarkan peraturan pajak yang berlaku                                           Based on taxation laws which became
                                 mulai tahun 2008, Direktorat Jendral Pajak                                         applicable starting in year 2008, the Directory
                                 dapat menetapkan dan mengubah kewajiban                                            General Tax may assess and amend taxes
                                 pajak dalam batas waktu lima tahun sejak                                           within five years from the date the tax becomes
                                 tanggal terutangnya pajak.                                                         due.

                                 Manajemen Kelompok Usaha berpendapat                                               The Group’s management is in the opinion that
                                 bahwa aset pajak tangguhan diperkirakan                                            the deferred tax assets are expected to be
                                 dapat dipulihkan pada periode mendatang.                                           realized in the future.


                                                                                               90




378 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 379
                                                                 The original consolidated financial statements included herein
                                                                                               are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                 financial statements
             Tanggal 31 Desember 2023                                          As of December 31, 2023
            dan untuk tahun yang berakhir                                      and for year then ended
                pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
               kecuali dinyatakan lain)


20. PERPAJAKAN (lanjutan)                                       20. TAXATION (continued)

   h.    Pemeriksaan pajak                                          h.    Tax assessments

         Perseroan                                                        The Company

         Pajak penghasilan badan                                          Corporate income tax

         Tahun pajak 2019                                                 Tax year 2019

         Pada tanggal 28 April 2021, Perseroan                            On April 28, 2021, the Company obtained an
         memperoleh Surat Ketetapan Pajak Lebih                           Overpayment      Tax    Assessment    Letter
         Bayar (“SKPLB”) dari Direktorat Jenderal Pajak                   (“SKPLB”) from the DGT reflecting an
         (DJP) atas pajak penghasilan badan tahun                         overpayment of 2019 corporate income tax of
         2019 sejumlah Rp34.342.811 dari lebih bayar                      Rp34,342,811 instead of Rp41,302,403     as
         sejumlah Rp41.302.403 yang dilaporkan pada                       reported in the Company’s corporate income
         Surat Pemberitahuan Pajak Penghasilan                            tax return. On May 20, 2021, the Company
         Badan. Pada tanggal 20 Mei 2021, Perseroan                       received the refund.
         menerima pengembalian dana tersebut.

         Pada tanggal 25 Mei 2021, Perseroan                              On May 25, 2021 the Company submitted
         mengajukan keberatan ke Direktorat Jendral                       objection letter to Directorate General of Taxes
         Pajak (“DJP”) atas lebih bayar Pajak                             (“DGT”) in respect to overpayment of CIT of
         Penghasilan      Badan       2019     sejumlah                   Rp17,313,431 and recorded of Rp10,346,953
         Rp17.313.431      dan    mencatat     sejumlah                   as a part of current tax expense in the 2021
         Rp10.346.953 sebagai kurang akru periode                         consolidated statement of profit or loss and
         sebelumnya sebagai bagian dari beban pajak                       other comprehensive income.
         kini pada laporan laba rugi konsolidasian tahun
         2021.

         Pada tanggal 15 Februari 2022, Kantor Pajak                      On February 15, 2022, Tax Office issued
         mengeluarkan putusan menolak semua                               decision which rejected the Company’s
         keberatan Perseroan. Pada tanggal 14 April                       objection. On April 14, 2022, the Company a
         2022, Perseroan mengajukan banding ke                            submited appeal to the Tax Court. On July 31,
         Pengadilan Pajak. Pada tanggal 31 Juli 2023                      2023, the Tax Court issued decision that
         Pengadilan Pajak mengeluarkan putusan                            approved the Company’s appeal. On
         mengabulkan seluruh banding Perseroan.                           October 5, 2023, the Company received the
         Pada tanggal 5 Oktober 2023, Perseroan                           refund.
         menerima pengembalian dana.




                                                           91




                                                                                                                                                  379
                                                                                                       PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                             Laporan Tahunan 2023 Annual Report
Page 380
                                                                                       The original consolidated financial statements included herein
                                                                                                                     are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                           AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                  Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                              financial statements
                                      Tanggal 31 Desember 2023                                       As of December 31, 2023
                                     dan untuk tahun yang berakhir                                   and for year then ended
                                         pada tanggal tersebut                                  (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                  unless otherwise stated)
                                        kecuali dinyatakan lain)


                      20. PERPAJAKAN (lanjutan)                                       20. TAXATION (continued)

                            h.    Pemeriksaan pajak (lanjutan)                            h.    Tax assessment (continued)

                                  Perseroan (lanjutan)                                          The Company (continued)

                                  Pajak pertambahan nilai                                       Value added tax

                                  Tahun pajak 2019                                              Tax year 2019

                                  Pada tanggal 28 April 2021, Perseroan                         On April 28, 2021, the Company received
                                  menerima SKPKB dan Surat Tagihan Pajak                        SKPKB and Tax Collection Letter (STP) of VAT
                                  (STP) dari DJP atas PPN tahun 2019 sejumlah                   for fiscal year 2019 totaling Rp5,700,976. The
                                  Rp5.700.976. Perseroan menerima sebagian                      Company partially accepted the assessment
                                  hasil pemeriksaan tersebut dan mencatat                       and recorded the differences of Rp2,879,730 in
                                  sejumlah Rp2.879.730 pada laporan laba rugi                   the 2021 consolidated statement of profit or
                                  konsolidasian tahun 2021.                                     loss.
                                  Pada tanggal 19 Juli 2021, Perseroan                          On July 19, 2021, the Company submitted
                                  mengajukan keberatan ke DJP atas SKPKB                        objection letters to DGT related to the SKPKB
                                  dan STP PPN tahun 2019 sebesar                                and STP VAT for tax year 2019 totaling
                                  Rp2.821.245. Pada tanggal 15 Februari 2022,                   Rp2,821,245. On Februari 15, 2022 the
                                  Perseroan menerima hasil keberatan untuk                      Company received the result of tax objection
                                  PPN yang menyatakan DJP menolak keberatan                     VAT.
                                  PPN Perseroan.
                                  Pada tanggal 15 April 2022, Perseroan                         On April 15, 2022, the Company submitted the
                                  mengajukan banding kepada Pengadilan                          tax appeal to the Tax Court. On July 31, 2023,
                                  Pajak. Pada tanggal 31 Juli 2023, Pengadilan                  Tax Court issued decision approved the
                                  Pajak mengeluarkan putusan mengabulkan                        Company’s appeal. On October 5, 2023, the
                                  seluruh banding atas SKPKB PPN Perseroan.                     Company received the refund on SKPKB VAT
                                  Pada tanggal 5 Oktober 2023, Perseroan                        amounted to Rp2,120,923 and charged
                                  menerima pengembalian dana atas banding                       Rp7,784 to the current year’s statement of profit
                                  sebesar Rp2.120.923 dan mencatat Rp7.784                      or loss due to over recorded VAT refundable.
                                  pada laporan laba rugi tahun berjalan.                        The Company is still in the process of STP
                                  Perseroan sedang dalam proses pembatalan                      cancelation.
                                  STP.
                                  Entitas anak                                                  Subsidiaries
                                  PT Tanjung Sawit Abadi (TSA)                                  PT Tanjung Sawit Abadi (TSA)
                                  Tahun pajak 2016                                              Tax year 2016
                                  Pada tanggal 27 Januari 2021, TSA                             On January 27, 2021, TSA obtained an
                                  memperoleh Surat Ketetapan Pajak Kurang                       Underpayment Tax Assessment                Letter
                                  Bayar (“SKPKB”) dari DJP atas pajak                           (“SKPKB”) from the DGT, reflecting an
                                  penghasilan badan tahun 2016 sejumlah                         underpayment of 2016 corporate income tax of
                                  Rp7.980.593 dari jumlah RpNihil yang telah                    Rp7,980,593 instead of RpNil as reported in
                                  dilaporkan dalam Surat Pemberitahuan Pajak                    the    corporate       income     tax     return.
                                  Penghasilan Badan. Pada tanggal 26 Februari                   On February 26, 2021 and April 20, 2021, TSA
                                  dan 20 April 2021, TSA telah membayar atas                    paid underpayment amounting to Rp7,980,593
                                  kurang bayar tersebut sejumlah Rp7.980.593                    and recorded the amount of Rp232,840
                                  dan     mencatat     sejumlah      Rp232.840                  as a part of current tax expense and Rp104,478
                                  sebagai bagian dari beban pajak kini serta                    as tax penalty expense in the 2020
                                  sejumlah Rp104.478 sebagai beban denda                        consolidated statement of profit or loss in other
                                  pajak pada laporan laba rugi penghasilan                      comprehensive income.
                                  komprehensif lain konsolidasian tahun 2020.




                                                                                 92




380 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 381
                                                                 The original consolidated financial statements included herein
                                                                                               are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                 financial statements
             Tanggal 31 Desember 2023                                          As of December 31, 2023
            dan untuk tahun yang berakhir                                      and for year then ended
                pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
               kecuali dinyatakan lain)


20. PERPAJAKAN (lanjutan)                                       20. TAXATION (continued)
   h.    Pemeriksaan pajak (lanjutan)                               h.    Tax assessment (continued)
         Entitas anak (lanjutan)                                          Subsidiaries (continued)
         PT Tanjung Sawit Abadi (TSA) (lanjutan)                          PT Tanjung Sawit Abadi (TSA) (continued)
         Tahun pajak 2016 (lanjutan)                                      Tax year 2016 (continued)
         Pada tanggal 21 April 2021, TSA mengajukan                       On April 21, 2021, TSA filled an objection letter
         surat keberatan kepada kantor pajak atas                         to Tax Office for underpayment of 2016
         kurang bayar pajak penghasilan badan tahun                       corporate income tax of Rp7,636,922. On
         2016 sebesar Rp7.636.922. Pada tanggal                           November 2, 2021, TSA received the result of
         2 November 2021, Perseroan menerima surat                        tax objection which stated that the tax office
         keputusan keberatan yang menolak seluruh                         rejected    all  of   the      tax   correction.
         keberatan TSA. Pada tanggal 18 Januari 2022,                     On January 18, 2022, TSA submitted a tax
         TSA mengajukan banding kepada Pengadilan                         appeal to the Tax Court. Until the completion
         Pajak. Sampai dengan tanggal penerbitan                          date of the consolidated financial statements,
         laporan keuangan konsolidasian, TSA belum                        TSA has not yet received the appeal result.
         menerima hasil tersebut.

         PT Citra Borneo Utama Tbk. (“CBUT”)                              PT Citra Borneo Utama Tbk. (“CBUT”)

         Tahun pajak 2022                                                 Tax year 2022

         Pada tanggal 31 Januari 2023, CBUT                               On January 31, 2023, CBUT obtained a STP
         memperoleh STP dari DJP atas PPN masa                            from DGT related VAT periods May, April,
         Mei, April, Agustus, dan Oktober 2022 sejumlah                   August, and October 2022 amounted to
         Rp1.037.325. CBUT menerima keputusan                             Rp1,037,325. CBUT accepted the assessment
         tersebut dan mencatat beban denda pajak                          and recorded the result as tax penalty expense
         pada     laporan     laba    rugi   penghasilan                  in the current year consolidated statement of
         komprehensif      lain    konsolidasian tahun                    profit or loss and other comprehensive income.
         berjalan.

         Pada tanggal 21 November 2023, CBUT                              On November 21, 2023, the CBUT obtained an
         memperoleh SPMKP dari         DJP yang                           SPMKP from the DGT related overpayments of
         menyatakan lebih bayar PPN masa Desember                         VAT period of December 2022 amounted to
         2022 sebesar Rp 28.683.722 yang dilaporkan                       Rp 28,683,722 as reported in the VAT monthly
         pada Surat Pemberitahuan Masa PPN.                               tax retun VAT. CBUT agreed the decision and
         Perusahaan menerima keputusan tersebut                           received the refund of Rp28,682,722 on
         dan telah    menerima pembayaran atas                            November 23, 2023.
         kelebihan pembayaran PPN tersebut sebesar
         Rp 28.682.722 pada tanggal 23 November
         2023




                                                           93




                                                                                                                                                  381
                                                                                                       PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                             Laporan Tahunan 2023 Annual Report
Page 382
                                                                                  The original consolidated financial statements included herein
                                                                                                                are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                           PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                      AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                             Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                         financial statements
                                    Tanggal 31 Desember 2023                                  As of December 31, 2023
                                   dan untuk tahun yang berakhir                              and for year then ended
                                       pada tanggal tersebut                             (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                             unless otherwise stated)
                                      kecuali dinyatakan lain)


                     20. PERPAJAKAN (lanjutan)                                     20. TAXATION (continued)

                          h.    Pemeriksaan pajak (lanjutan)                            h.   Tax assessment (continued)
                                Entitas anak (lanjutan)                                      Subsidiaries (continued)

                                PT Citra Borneo Utama Tbk. (“CBUT”) (lanjutan)               PT Citra Borneo Utama Tbk. (“CBUT”)
                                                                                             (continued)

                                Tahun pajak 2022                                             Tax year 2022

                                Pada tanggal 21 November 2023, CBUT                          On November 21, 2023, CBUT obtained an
                                memperoleh SPMKP dari DJP yang menyatakan                    SPMKP from the DGT stating an
                                lebih bayar PPN masa April 2023 sebesar                      overpayment of VAT for period April 2023
                                Rp23.320.000 dibandingkan dengan lebih bayar                 amounting to Rp 23,320,000 instead of
                                sebesar Rp23.354.000 yang dilaporkan pada Surat              overpayment of Rp 23,354,000 as reported in
                                Pemberitahuan Masa PPN. CBUT menerima                        the monthly tax return of VAT. CBUT agreed
                                keputusan tersebut. CBUT telah menerima                      with the result. CBUT has received the refund
                                pembayaran atas kelebihan pembayaran PPN                     of VAT amounting to Rp 23,320,000 on
                                tersebut sebesar Rp23.320.000 pada tanggal                   November 23, 2023.
                                23 November 2023.

                                Pada tanggal 14 Desember 2023, CBUT                          On December 14, 2023, the CBUT obtained
                                memperoleh SPMKP dari DJP yang menyatakan                    an SPMKP from the DGT stating an
                                lebih bayar PPN masa Agustus 2023 sebesar                    overpayment of VAT for period August 2023
                                Rp39.035.000 dibandingkan dengan lebih bayar                 VAT amounting to Rp39,035,000 instead of
                                sebesar Rp39.043.000 yang dilaporkan pada Surat              the amount of Rp 39,043,000 as reported in
                                Pemberitahuan Masa PPN. CBUT menerima                        the monthly tax return of VAT. CBUT agreed
                                keputusan tersebut. CBUT telah menerima                      with that result. CBUT has received the
                                pembayaran atas kelebihan pembayaran PPN                     refund of overpayment of VAT amounting to
                                tersebut sebesar Rp 39.035.000 pada tanggal                  Rp 39,035,000 on December 18, 2023.
                                18 Desember 2023.

                                Tahun pajak 2019                                             Tax year 2019

                                Pada tanggal 14 September 2022, CBUT                         On September 14, 2022, CBUT obtained an
                                memperoleh Surat Ketetapan Pajak Kurang Bayar                Underpayment Tax Assessment Letter
                                (SKPKB) dari DJP yang menyatakan kurang bayar                (SKPKB) from the DGT stating the
                                pajak penghasilan badan tahun fiskal 2019                    underpayment 2019 corporate income tax Rp
                                sebesar Rp3.786.000 dari jumlah RpNihil yang                 3,786,000 instead of Rp Nil as reported in the
                                telah dilaporkan pada Surat Pemberitahuan Pajak              Company’s corporate income tax return. On
                                Penghasilan Badan. Pada tanggal 25 Oktober                   October 25, 2022, CBUT submitted an
                                2022, CBUT mengajukan keberatan kepada kantor                objection to the Tax Office.
                                Pajak.

                                Pada tanggal 28 Juli 2023, Kantor Pajak menolak              On July 28, 2023, the Tax Office rejected the
                                keberatan yang diajukan CBUT. CBUT telah                     objection filed by CBUT. CBUT filed an
                                mengajukan banding kepada Pengadilan Pajak.                  appeal to the Tax Court.

                                Sampai dengan tanggal penyelesaian laporan                   Up to the date of completion of the
                                keuangan konsolidasian, CBUT belum menerima                  consolidated financial statements, CBUT had
                                hasil keputusan atas permohonan banding                      not yet received the decision on its appeal.
                                tersebut.




                                                                             94




382 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 383
                                                                        The original consolidated financial statements included herein
                                                                                                      are in the Indonesian language.

          PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
                DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
             Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                     KONSOLIDASIAN                                                      financial statements
               Tanggal 31 Desember 2023                                               As of December 31, 2023
              dan untuk tahun yang berakhir                                           and for year then ended
                  pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
             (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
                 kecuali dinyatakan lain)


20. PERPAJAKAN (lanjutan)                                                 20. TAXATION (continued)

   h.     Pemeriksaan pajak (lanjutan)                                         h.    Tax assessment (continued)
          Entitas anak (lanjutan)                                                    Subsidiaries (continued)

           PT Citra Borneo Utama Tbk. (“CBUT”) (lanjutan)                            PT Citra Borneo Utama Tbk. (“CBUT”)
                                                                                     (continued)

           Tahun pajak 2021                                                          Tax year 2021

           Pada tanggal 28 Oktober 2021, CBUT memperoleh                              On 28 October 2021, CBUT obtained
           SKPLB dari DJP atas PPN tahun fiskal 2021                                  SKPLB from DGT on its fiscal year 2021
           sebesar Rp27.881.000 dibandingkan dengan                                   Value Added Tax (“VAT”) amounting to
           lebih bayar     sebesar     Rp29.911.000 yang                              Rp27,881,000 instead of the amount of
           dilaporkan pada Surat Pemberitahuan Masa                                   Rp29,911,000 as    reported in the VAT
           PPN.     CBUT menerima ketetapan tersebut.                                 return. CBUT agreed with that assessment.
           CBUT telah menerima pembayaran atas kelebihan                              CBUT has received the refund of
           pembayaran     PPN        tersebut     sebesar                             overpayment on VAT amounting to
           Rp27.881.000 pada tanggal 5 Januari 2022.                                  Rp27,881,000 on January 5, 2022.


 21. BEBAN AKRUAL                                                      21. ACCRUED EXPENSES
                                                          Disajikan kembali - Catatan 4/
                                                                 As restated - Note 4

                                                                              1 Januari 2022/
                                                                              January 1, 2022/
                                    31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                    December 31, 2023   December 31, 2022    December 31, 2021

        Akrual biaya bunga                 13.278.655          36.564.101           153.023.142              Accrued interest expense
        Jasa profesional                    3.173.313           2.829.461             2.572.354                     Professional fees
        Operasional                        21.505.882          38.598.754            47.418.433                           Operational
        Jamsostek                               4.805                   -                     -                            Jamsostek
        Lain-lain                          27.540.191          38.662.215            32.073.457                                Others

                                           65.502.846         116.654.531           235.087.386



 22. UTANG BANK                                                        22. BANK LOAN
                                                           Disajikan kembali - Catatan 4/
                                                                As restated - Note 4

                                                                              1 Januari 2022/
                                                                              January 1, 2022/
                                    31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                    December 31, 2023   December 31, 2022    December 31, 2021

   Utang bank jangka pendek                                                                                    Short-term bank loans
     PT Bank Negara Indonesia                                                                               PT Bank Negara Indonesia
        (Persero) Tbk. (BNI)              870.726.630         973.981.690           948.978.400                 (Persero) Tbk. (BNI)
     PT Bank Rakyat Indonesia                                                                               PT Bank Rakyat Indonesia
        (Persero) Tbk. (BRI)            1.267.733.918                    -                    -                 (Persero) Tbk. (BRI)
     Standard Chartered Bank              298.880.978                    -                    -              Standard Chartered Bank
     PT Bank Perkreditan Rakyat                                                                            PT Bank Perkreditan Rakyat
        Lingga Sejahtera                            -                    -           20.000.000                   Lingga Sejahtera

                                        2.437.341.526         973.981.690           968.978.400




                                                              95




                                                                                                                                                         383
                                                                                                              PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                    Laporan Tahunan 2023 Annual Report
Page 384
                                                                                                    The original consolidated financial statements included herein
                                                                                                                                  are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                              PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                         AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                            financial statements
                                    Tanggal 31 Desember 2023                                                     As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                 and for year then ended
                                       pada tanggal tersebut                                                (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                unless otherwise stated)
                                      kecuali dinyatakan lain)


                      22. UTANG BANK                                                              22. BANK LOAN
                                                                                       Disajikan kembali - Catatan 4/
                                                                                            As restated - Note 4

                                                                                                          1 Januari 2022/
                                                                                                          January 1, 2022/
                                                               31 Desember 2023/    31 Desember 2022/    31 Desember 2021/
                                                               December 31, 2023    December 31, 2022    December 31, 2021


                          Utang bank jangka panjang                                                                                        Long-term bank loans
                            Pinjaman Sindikasi                     3.365.258.698        3.513.942.700                     -                       Syndication Loan
                            PT Bank Rakyat Indonesia                                                                                    PT Bank Rakyat Indonesia
                               (Persero) Tbk. (BRI)                  873.056.812           29.056.812            35.044.186                 (Persero) Tbk. (BRI)
                            PT Bank Negara Indonesia                                                                                    PT Bank Negara Indonesia
                               (Persero) Tbk. (BNI)                1.429.375.225        2.047.672.692         2.314.507.988                 (Persero) Tbk. (BNI)
                            PT Bank Perkreditan Rakyat                                                                                 PT Bank Perkreditan Rakyat
                               Lingga Sejahtera                                -                     -              825.000                   Lingga Sejahtera

                                                                   5.667.690.735        5.590.672.204         2.350.377.174
                             Dikurangi: Biaya perolehan
                                pinjaman yang belum
                                diamortisasi                          (3.407.497)         (47.382.495)          (7.836.806)       Less: Unamortized financing costs

                                                                   5.664.283.238        5.543.289.709         2.342.540.368
                             Utang bank jatuh tempo
                                dalam satu tahun                    (897.754.076)        (856.786.228)         (328.000.896)           Current maturity of bank loan

                             Utang bank jangka panjang
                                setelah dikurangi bagian                                                                                  Long-term bank loan - net
                                jatuh tempo dalam satu tahun       4.766.529.162        4.686.503.481         2.014.539.472                      current maturity



                            Fasilitas Pinjaman Sindikasi                                                 Syndicated Loan Facility


                            Berdasarkan Surat Pemberitahuan Putusan                                      Based on a Notice of Syndicated Financing
                            Pembiayaan Sindikasi atas nama Perseroan tanggal                             Decision on behalf of the Company dated June 21,
                            21 Juni 2022, Perseroan memperoleh fasilitas                                 2022, the Company obtained Senior Secured Term
                            Senior Secured Term Loan atau Line Facility                                  Loan or Musyarakah Line Facility from PT Bank
                            Musyarakah dari PT Bank Rakyat Indonesia                                     Rakyat Indonesia (Persero) Tbk., PT Bank
                            (Persero) Tbk., PT Bank Syariah Indonesia, Tbk.,                             Syariah Indonesia, Tbk., PT Bank Woori Saudara
                            PT Bank Woori Saudara Indonesia 1906, Tbk., PT                               Indonesia 1906, Tbk., PT Bank Jtrust Indonesia,
                            Bank Jtrust Indonesia, Tbk., PT Bank DKI, PT                                 Tbk., PT Bank DKI, PT Maybank Indonesia,
                            Maybank Indonesia, Tbk., PT BPD Sumsel Babel,                                Tbk., PT BPD Sumsel Babel, PT BPD Papua, dan
                            PT BPD Papua, dan PT Bank Raya Indonesia Tbk.,                               PT Bank Raya Indonesia Tbk., with a maximum
                            dengan    batas    maksimum     kredit  sebesar                              amount of Rp4,300,000,000.
                            Rp4.300.000.000.

                            Pinjaman ini ditujukan untuk pembiayaan kembali                              The purpose of this loan is to refinance of the Senior
                            atas Obligasi Senior yang diterbitkan oleh SSMS                              Notes issued by SSMS Plantation Holdings Pte.
                            Plantation Holdings Pte. Ltd. (“SPH”), entitas anak.                         Ltd. (“SPH”), a subsidiary.

                            Pinjaman tersebut akan dilunasi dalam 32 (tiga                               This loan will be repaid in 32 (tiga puluh dua)
                            puluh dua) angsuran tiga bulanan dengan angsuran                             quarterly installments, and the final installment will
                            terakhir akan jatuh tempo pada tanggal                                       be due on December 31, 2030. In 2023, this loan
                            31 Desember 2030. Pada tahun 2023, pinjaman ini                              bears interest at the rate of 9.00% (2022: 9.00%)
                            dikenakan bunga sebesar 9,00% (2022: 9,00%) per                              per annum and will be adjusted to the market
                            tahun dan akan disesuaikan dengan suku bunga                                 interest rate periodically.
                            pasar secara periodik.




                                                                                          96




384 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 385
                                                               The original consolidated financial statements included herein
                                                                                             are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                financial statements
             Tanggal 31 Desember 2023                                         As of December 31, 2023
            dan untuk tahun yang berakhir                                     and for year then ended
                pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
               kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                      22. BANK LOAN (continued)

   Fasilitas Pinjaman Sindikasi (lanjutan)                        Syndicated Loan Facility (continued)

   Perseroan (lanjutan)                                           The Company (continued)

   Pada tanggal 31 Desember 2023, Perseroan telah                  As of December 31, 2023, these loans have been
   melakukan penarikan semua fasilitas pinjaman ini.               fully draw down. The outstanding balance of these
   Saldo pinjaman Perseroan per 31 Desember 2023                   loans as of December 31, 2023 amounted to
   adalah sebesar Rp3.403.797.530.                                 Rp3,403,797,530.

   Fasilitas pinjaman ini dijamin dengan:                                The loan facility is secured by:
   1. Segala harta kekayaan Perseroan, baik yang                   1.    All of the Company Assets, both movable and
        bergerak maupun tidak bergerak, baik yang sudah                  immovable, both existing and those that will
        ada maupun yang akan ada dikemudian hari.                        exist in the future.
   2. Seluruh jaminan merupakan jaminan paripassu
        bagi pemberi fasilitas, oleh karenanya akan                2.    All guarantees are paripassu guarantees for
        dibuatkan sebuah perjanjian terpisah yang                        the facility provider, therefore a separate
        mengatur pelaksanaan pembagian hasil jaminan                     agreement will be made which regulates the
        sesuai porsi pembiayaan masing- masing pemberi                   implementation of the distribution of the
        fasilitas.                                                       guarantee results according to the financing
   3. Agunan Debitur/Nasabah akan                  dilakukan             portion of each facility provider.
        pengikatan secara sempurna dengan nilai                    3.    The Company’s collateral will be fully bound
        coverage atas keseluruhan fasilitas sindikasi                    with a minimum coverage value of the
        minimum sebesar 121% (seratus dua puluh satu                     entire syndicated facility of 121% (one hundred
        persen).                                                         and twenty one percent).
   4. Persediaan perseroan yang telah diikat dalam                 4.    The Company’s inventories that has been
        sertifikat jaminan fidusia.                                      granted in the fiduciary guarantee certificate.
   5. Piutang Perseroan, PT Kalimantan Sawit Abadi                 5.    The Company’s, PT Kalimantan Sawit Abadi’s
        dan PT Sawit Multi Utama (“entitas anak”) yang                   and PT Sawit Multi Utama’s (“the Subsidiaries”)
        telah diikat dalam sertifikat jaminan fidusia.                   receivables, that have been granted in the
                                                                         fiduciary guarantee certificate.
   6.    Tagihan klaim asuransi Perseroan, PT Kalimantan           6.    The Company’s, PT Kalimantan Sawit Abadi’s
         Sawit Abadi dan PT Sawit Multi Utama (“entitas                  and PT Sawit Multi Utama’s (“the Subsidiaries”)
         anak”) yang telah diikat dalam sertifikat jaminan               insurance claim bills, that have been granted in
         fidusia.                                                        the fiduciary guarantee certificate.

   7.    Perkebunan kelapa sawit Perseroan, termasuk di            7.     The Company's oil palm plantations, including
         dalamnya tanah, tanaman, non-tanaman dan                         land, plants, non-plants and all factory
         seluruh bangunan pabrik sebagaimana tertera                      buildings as stated in the Company’s
         dalam sertifikat Hak Guna Usaha (“HGU”).                         certifcates of landright (“HGU”).
   8.    Perkebunan kelapa sawit PT Kalimantan Sawit               8.     PT Kalimantan Sawit Abadi (“the Subsidiary”)
         Abadi (“entitas anak”) termasuk di dalamnya                      oil palm plantations, including land, plants,
         tanah, tanaman, non-tanaman dan seluruh                          non-plants and all factory buildings as stated in
         bangunan pabrik sebagaimana tertera dalam                        the Company’s certifcates of landright (“HGU”).
         sertifikat Hak Guna Usaha (“HGU”).                        9.     PT Sawit Multi Utama (“the Subsidiary”) oil
   9.    Perkebunan kelapa sawit PT Sawit Multi Utama                     palm plantations, including land, plants, non-
         (“entitas anak”) termasuk di dalamnya tanah,                     plants and all factory buildings as stated in the
         tanaman, non-tanaman dan seluruh bangunan                        certifcates of landright (“HGU”)
         pabrik sebagaimana tertera dalam sertifikat Hak
         Guna Usaha (“HGU”).




                                                          97




                                                                                                                                                385
                                                                                                     PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                           Laporan Tahunan 2023 Annual Report
Page 386
                                                                                            The original consolidated financial statements included herein
                                                                                                                          are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                 financial statements
                                      Tanggal 31 Desember 2023                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                      and for year then ended
                                         pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                             22. BANK LOAN (continued)
                            Fasilitas Pinjaman Sindikasi (lanjutan)                            Syndicated Loan Facility (continued)
                            Perseroan (lanjutan)                                               The Company (continued)

                            Perjanjian pinjaman tersebut mengatur pula beberapa                The loan agreement stipulated several covenants,
                            pembatasan, antara lain sebagai berikut:                           among others as follows:

                            1.   Perseroan harus menjaga kondisi keuangan                      1. The Company shall maintain the following
                                 berikut, sebagaimana didefinisikan dalam                         financial condition, as defined in the facility
                                 perjanjian fasilitas:                                            agreement:
                                 -   Rasio Debt Service Coverage Konsolidasian                     - Consolidated Debt Service Coverage ratio
                                      periode terkait tidak kurang dari 1,25x.                         for the related period not less than 1.25x.
                                 -   Rasio       kewajiban      terhadap     ekuitas               - Consolidated Net Debt to equity ratio for
                                      Konsolidasian periode terkait tidak lebih dari                   the related period not more than 2.5x.
                                      2,5x.
                                 -    Rasio Kewajiban terhadap LTM Adjusted                        -    Consolidated Net Debt to LTM Adjusted
                                      EBITDA Konsolidasioan periode terkait tidak                       EBITDA ratio for the related period not more
                                      lebih dari 2,5x.                                                  than 2.5x.

                            Fasilitas Kredit Investasi PT Bank Negara                          Investment Credit Facility from PT Bank Negara
                            Indonesia (Persero) Tbk. (BNI)                                     Indonesia (Persero) Tbk. (BNI)
                            Perseroan                                                          The Company
                            Berdasarkan perjanjian pinjaman yang dilegalisasi                   Based on an Agreement of Investment Financing
                            melalui Akta Notaris Tintin Surtini, S.H., M.H., M.kn.              which legalized by Notarial deed No. 83 and 84,
                            No. 83 dan 84 tanggal 26 Juli 2019, Perseroan                       Notary of Tintin Surtini, S.H., M.H., M.kn. dated
                            memperoleh fasilitas pembiayaan investasi dan                       July 26, 2019, the Company obtained investment
                            fasilitas Interest During Constructions (IDC) dari BNI              credit facility and Interest During Constructions
                            dengan       batas     maksimum      kredit   sebesar               (IDC) facility from BNI with a maximum amount of
                            Rp249.519.000 dan Rp27.600.000. Pinjaman ini                        Rp249,519,000 and Rp27,600,000, respectively.
                            untuk tujuan pembangunan tank farm dengan                           This loan to finance construction of tank farm with
                            kapasitas 150.000 MT dan pembiayaan bunga                           capacity of 150,000 MT and financing the interest
                            selama masa pembangunan tank farm di Kawasan                        during the construction of tank farm in Surya Borneo
                            Industri Surya Borneo Industri, Kumai, Kalimantan                   Industri, Industrial estate in Kumai, Center of
                            Tengah.                                                             Kalimantan.

                            Pinjaman tersebut akan dilunasi dalam 120 (seratus                  This loan will be repaid in 120 (one hundred twenty)
                            dua puluh) angsuran tiga bulanan, dengan masa                       quarterly installments, with grace period of 2 (two)
                            tenggang selama 2 (dua) tahun angsuran terakhir                     years and the final installment will be due on
                            akan jatuh tempo pada tanggal 25 Juli 2029.                         July 25, 2029. This loan bears interest at the rate of
                            Pinajaman ini dikenakan bunga masing-masing                         9.25% (2022: 9.25%; 2021: 9.00%) per annum.
                            sebesar 9,25% (2022: 9,25%; 2021: 9,00%) per
                            tahun.

                            Perseroan telah melunasi seluruh pinjaman pada                      The Company has fully settled the loan on
                            1 November 2023.                                                    November 1, 2023.




                                                                                       98




386 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 387
                                                                  The original consolidated financial statements included herein
                                                                                                are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                   financial statements
             Tanggal 31 Desember 2023                                            As of December 31, 2023
            dan untuk tahun yang berakhir                                        and for year then ended
                pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
               kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                         22. BANK LOAN (continued)

   Fasilitas Kredit Investasi PT Bank Negara                         Investment Credit Facility from PT Bank Negara
   Indonesia (Persero) Tbk. (BNI) (lanjutan)                         Indonesia (Persero) Tbk. (BNI) (continued)


   Entitas anak                                                        The Subsidiaries

   PT Tanjung Sawit Abadi (TSA)                                       PT Tanjung Sawit Abadi (TSA)

   Berdasarkan perjanjian kredit investasi yang                       Based on an credit investment agreement which
   dilegalisasi melalui Akta Notaris Tintin Surtini, S.H.,            was legalized by Notarial deed No. 18 and 19 dated
   M.H., M.kn.,       No.    18 dan 19 tanggal                        December 9, 2016, Notary of Tintin Surtini, S.H.,
   9 Desember 2016, TSA memperoleh fasilitas                          M.H., M.kn., TSA obtained financing facilities from
   pembiayaan dari BNI dengan batas maksimum                          BNI with maximum credit facility of Rp465,000,000
   kredit sebesar Rp465.000.000 dan AS$23.308.270                     and      US$23,308,270        or   equivalent     to
   atau setara dengan Rp310.000.000 untuk tujuan                      Rp310,000,000 for the refinancing of oil palm
   pembiayaan kembali kebun kelapa sawit dan pabrik                   plantations and palm oil mill purpose.
   kelapa sawit.

   Pinjaman tersebut akan dilunasi dalam 28 (dua                      This loan will be repaid in 28 (twenty eight) quarterly
   puluh delapan) angsuran tiga bulanan, dengan                       installments, with grace period for 2 (two) years, the
   masa tenggang selama 2 (dua) tahun, angsuran                       final installment will be due on December 25, 2025
   terakhir akan jatuh tempo pada tanggal                             and bears interest rate of 9.25% (2022: 9.25%;
   25 Desember 2025 dan dikenakan bunga masing-                       2021: 9.00%) per annum for loan denominated in
   masing sebesar 9,25% (2022: 9,25%; 2021: 9,00%)                    Rupiah and 6.00% (2022: 6.00%; 2021: 5.25%) per
   per tahun untuk pinjaman dalam mata uang Rupiah                    annum for loan denominated in US Dollar,
   dan 6,00% (2022: 6,00%; 2021: 5,25%) per tahun                     respectively.
   untuk pinjaman dalam mata uang Dollar AS.

   Fasilitas pinjaman ini dijamin dengan:                            The loan facility is secured by:
   1.    Tanah seluas 148.090 meter persegi milik TSA                 1.     Land area of 148,090 square meters owned by
         yang berlokasi di Lamandau, Kotawaringin                            TSA located in Lamandau, Kotawaringin Barat
         Barat sebagaimana tertera dalam sertifikat Hak                      as stated in the Company’s certificates of
         Guna    Usaha ("HGU") termasuk aset                                 landright (“HGU”) including plantation assets,
         perkebunan, bangunan dan instalasi atasnya.                         buildings and the installations thereon.
   2.    Tanah seluas 14.947 hektar milik TSA yang                    2.     Land area of 14,947 hectares owned by TSA
         masih dalam proses mendapatkan sertifikat                           which is in the process of obtaining the HGU.
         HGU.
   3.    Penjaminan oleh Perseroan.                                   3.     Corporate guarantee from the Company.

   Pada tanggal 31 Desember 2023, TSA telah                           As of December 31, 2023, these loan has been fully
   melakukan penarikan semua fasilitas pinjaman ini.                  drawndown. The outstanding balance of these
   Saldo pinjaman per 31 Desember 2023 adalah                         loans as of December 31, 2023 amounted to
   sebesar Rp213.900.000 dan AS$10.721.804.                           Rp213,900,000 and US$10,721,804.




                                                             99




                                                                                                                                                   387
                                                                                                        PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                              Laporan Tahunan 2023 Annual Report
Page 388
                                                                                            The original consolidated financial statements included herein
                                                                                                                          are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                   financial statements
                                    Tanggal 31 Desember 2023                                            As of December 31, 2023
                                   dan untuk tahun yang berakhir                                        and for year then ended
                                       pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                                      kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                             22. BANK LOAN (continued)

                            Fasilitas Kredit Investasi PT Bank Negara                           Investment Credit Facility from PT Bank
                            Indonesia (Persero) Tbk. (BNI) (lanjutan)                           Negara Indonesia (Persero) Tbk. (BNI)
                                                                                                (continued)
                            Entitas anak (lanjutan)                                             The Subsidiaries (continued)

                            PT Mitra Mendawai Sejati (“MMS”)                                    PT Mitra Mendawai Sejati (“MMS”)

                            Berdasarkan perjanjian pinjaman yang dilegalisasi                   Based on an Agreement of Investment Financing
                            melalui Akta Notaris Tintin Surtini, SH., MH., Mkn.,                legalized by Notarial Deed No. 41, of Tintin Surtini,
                            No. 41 tanggal 26 Oktober 2018. MMS memperoleh                      SH., MH., Mkn., dated October 26, 2018, MMS
                            fasilitas pembiayaan dari BNI dengan batas                          obtained financing facilities from BNI with a
                            maksimum kredit sebesar Rp570.000.000 dan                           maximum facility of Rp570,000,000 and
                            AS$25.020.576 atau setara dengan Rp380.000.000                      US$25,020,576 or equivalent to Rp380,000,000
                            untuk tujuan pembiayaan kembali kebun kelapa                        for the refinancing of plantations and palm oil mill
                            sawit dan pabrik kelapa sawit di desa Runtu dan                     in Runtu and Umpang Village, Central Kalimantan.
                            Umpang, Kalimantan Tengah. Pinjaman tersebut                        This loan will be repaid in 32 (thirty two) quarterly
                            akan dilunasi dalam 32 (tiga puluh dua) angsuran                    installments, with grace period of 2 (two) years, the
                            tiga bulanan, dengan masa tenggang selama 2                         final installment will be due on October 25, 2026
                            (dua) tahun, angsuran terakhir akan jatuh tempo                     and bears interest at the rate of 9.25% (2022:
                            pada tanggal 25 Oktober 2026 dan dikenakan                          9.25%; 2021: 9,00%) per annum for Rupiah
                            bunga masing-masing sebesar 9,25% (2022:                            denominated loan and 6.00% (2022: 6.00%; 2021:
                            9,25%; 2021: 9,00%) per tahun untuk pinjaman                        5.25%) per annum for US Dollar denominated
                            dalam mata uang Rupiah dan 6,00% (2022: 6,00%;                      loan, respectively.
                            2021: 5,25%) untuk pinjaman dalam mata uang
                            Dolar AS per tahun.

                            Pada tanggal 31 Desember 2023, MMS telah                            As of December 31, 2023, these loans have been
                            melakukan penarikan semua fasilitas pinjaman ini.                   fully draw down. The outstanding balance of these
                            Saldo pinjaman MMS per 31 Desember 2023                             loans as of December 31, 2023 amounted to
                            adalah     sebesar     Rp285.000.000        dan                     Rp285,000,000 and US$12,510,169.
                            AS$12.510.169.
                            Fasilitas pinjaman ini dijamin dengan:                              The loan facility is secured by:
                            1. Tanah seluas 8.921 meter persegi milik MMS                       1. Land area of 8,921 square meters owned by
                                yang berlokasi di desa Umpang, Arut Selatan,                        MMS located in Umpang village, South Arut,
                                Kotawaringin Barat sebagaimana tertera dalam                        Kotawaringin Barat as stated in the
                                sertifikat Hak Guna Usaha ("HGU") termasuk                          Company’s certificates of landright (“HGU”)
                                aset perkebunan, bangunan dan instalasi                             including plantation assets, buildings and the
                                atasnya.                                                            installations thereon.
                            2. Jaminan oleh PT Mandiri Indah Lestari dan PT                     2. Corporate guarantee from PT Mandiri Indah
                                Prima Sawit Borneo.                                                 Lestari and PT Prima Sawit Borneo.

                            PT Menteng Kencana Mas (“MKM”)                                     PT Menteng Kencana Mas (“MKM”)
                            Berdasarkan perjanjian pinjaman yang dilegalisasi                  Based on an Agreement of Investment Financing
                            melalui Akta Notaris Tintin Surtini, S.H., M.H., M.kn.,            which legalized by Notarial deed No. 19, 20, 21, 22,
                            No. 19, 20, 21, 22, 23 dan 24 tanggal 19 Juli 2019,                23 dan 24, Notary of Tintin Surtini, S.H., M.H.,
                            MKM memperoleh beberapa fasilitas pembiayaan                       M.kn., dated July 19, 2019, MKM obtained financing
                            dari BNI                                                           facilities from BNI.
                            Pinjaman tersebut terdiri dari:                                     The facilities consist of:
                            1. Fasilitas Pembiayaan Investasi I dengan batas                    1. Investment Financing Facility I with a
                                 maksimum kredit sebesar Rp482.212.000 dan                          maximum facility of Rp482,212,000 for the
                                 digunakan untuk pembiayaan kebun.                                  financing of oil palm plantations purpose.
                            2. Fasilitas Pembiayaan Investasi II dengan batas                   2. Investment Financing Facility I with a
                                 maksimum kredit sebesar Rp151.636.000 dan                          maximum facility of Rp151,636,000 for the
                                 digunakan untuk pembiayaan kebun.                                  financing of oil palm plantations purpose.


                                                                                      100




388 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 389
                                                                   The original consolidated financial statements included herein
                                                                                                 are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                   financial statements
           Tanggal 31 Desember 2023                                            As of December 31, 2023
          dan untuk tahun yang berakhir                                        and for year then ended
              pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
             kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                          22. BANK LOAN (continued)

   Fasilitas Kredit Investasi PT Bank Negara                          Investment Credit Facility from PT Bank Negara
   Indonesia (Persero) Tbk. (BNI) (lanjutan)                          Indonesia (Persero) Tbk. (BNI) (continued)

   Entitas anak (lanjutan)                                            The Subsidiaries (continued)

   PT Menteng Kencana Mas (“MKM”)                                     PT Menteng Kencana Mas (“MKM”)
   Berdasarkan perjanjian pinjaman yang dilegalisasi                   Based on an Agreement of Investment Financing
   melalui Akta Notaris Tintin Surtini, S.H., M.H., M.kn.,             which legalized by Notarial deed No. 19, 20, 21, 22,
   No. 19, 20, 21, 22, 23 dan 24 tanggal 19 Juli 2019,                 23 dan 24, Notary of Tintin Surtini, S.H., M.H.,
   MKM memperoleh beberapa fasilitas pembiayaan                        M.kn., dated July 19, 2019, MKM obtained
   dari BNI.                                                           financing facilities from BNI.
   Pinjaman tersebut terdiri dari:                                    The facilities consist of:
   3. Fasilitas Pembiayaan Investasi III dengan batas                 3. Investment Financing Facility III with a
        maksimum kredit sebesar Rp185.367.000 dan                         maximum facility of Rp185,367,000 and
        AS$3.319.445. Fasilitas ini digunakan untuk                       US$3,319,445 for the financing of oil palm mill,
        pembiayaan pabrik kelapa sawit, biogas, dan                       biogas, and jetty purpose.
        dermaga.
   4. Fasilitas       Pembiayaan      Interest During                  4. Interest During Construction Facility II with a
        Construction II dengan batas maksimum kredit                      maximum facility of Rp25,600,000 and
        sebesar Rp25.600.000 dan AS$458.453.                              US$458,453 for the financing of interest during
        Fasilitas ini digunakan untuk pembiayaan atas                     construction of oil palm mill, biogas, and jetty.
        bunga pinjaman selama proses pembangunan
        pabrik kelapa sawit, biogas, dan dermaga.
   Pinjaman tersebut akan dilunasi dalam 120 (seratus                  This loan will be repaid in 120 (one hundred twenty)
   dua puluh) angsuran tiga bulanan, dengan masa                       quarterly installments, with grace period of 2 (two)
   tenggang selama 2 (dua) tahun, angsuran terakhir                    years, the final installment will be due on July 18,
   akan jatuh tempo pada tanggal 18 Juli 2029 dan                      2029 and bears interest at the rate of 9.75% (2022:
   dikenakan bunga masing-masing sebesar 9,75%                         9.25%) per annum for Rupiah denominated loan
   (2022: 9,25%) per tahun untuk pinjaman dalam mata                   and 5.75% (2022: 6.00%) per annum for US Dollar
   uang Rupiah dan 5,75% (2022: 6,00%) per tahun                       denominated loan per annum, respectively.
   untuk pinjaman dalam mata uang Dolar AS
   Saldo pinjaman per 31 Desember 2023 sebesar                         The      balance        of    these      loans    as  of
   Rp390.086.341 dan AS$2.983.742. Saldo tersebut                      December 31, 2023 amounted to Rp390,086,341
   merupakan bagian dari Fasilitas Pembiayaan                          and US$2,983,742, respectively. The outstanding
   Investasi I, II, dan III serta fasilitas IDC I dan II.              balances represent part of Investment Financing
                                                                       Facility I, II, and III, and IDC facilities I and II.

    Fasilitas pinjaman ini dijamin dengan:                            The loan facilities are secured by:
    1. Tanah seluas 2.596 Ha milik MKM yang                            1. Land area of 2,596 Ha owned by MKM located
       berlokasi di Pulang Pisau, Kalimantan Tengah                       in Pulang Pisau, Central of Kalimantan as
       sebagaimana tertera dalam sertifikat Hak Guna                      stated in the Company’s certificates of landright
       Usaha ("HGU").                                                     (“HGU”).
    2. Tanah seluas 296 Ha milik MKM yang berlokasi                    2. Land area of 296 Ha owned by MKM located in
       di Pulang Pisau, Kalimantan Tengah                                 Pulang Pisau, Central of Kalimantan as stated
       sebagaimana tertera dalam sertifikat Hak Guna                      in the Company’s certificates of buildingright
       Bangunan ("HGB").                                                  (“HGB”).




                                                             101




                                                                                                                                                    389
                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 390
                                                                                       The original consolidated financial statements included herein
                                                                                                                     are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                              PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                         AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                            financial statements
                                      Tanggal 31 Desember 2023                                     As of December 31, 2023
                                     dan untuk tahun yang berakhir                                 and for year then ended
                                         pada tanggal tersebut                                (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                unless otherwise stated)
                                        kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                        22. BANK LOAN (continued)

                             Fasilitas Kredit Investasi PT Bank Negara                     Investment Credit Facility from PT Bank Negara
                             Indonesia (Persero) Tbk. (BNI) (lanjutan)                     Indonesia (Persero) Tbk. (BNI) (continued)

                             Entitas anak (lanjutan)                                      Subsidiaries (continued)

                             PT Menteng Kencana Mas (“MKM”) (lanjutan)                     PT Menteng Kencana Mas (“MKM”) (continued)

                             Fasilitas pinjaman ini dijamin dengan:                       The loan facilities are secured by:

                             3. Tanah dengan dengan status Ijin Usaha                      3. Land area with of the status of a Large
                                Perkebunan Besar yang diikat dengan                           Plantation Business Permit that is bound by a
                                Perjanjian  Penyerahan      Jaminan   dan                     Guarantee and Provision of Authority
                                Pemberian     Kuasa     (PPJPK)     senilai                   Agreement (PPJPK) amounted Rp350,726,000.
                                Rp350.726.000.
                             4. Jaminan oleh PT Mandiri Indah Lestari dan                  4. Corporate guarantee from PT Mandiri Indah
                                PT Prima Sawit Borneo.                                        Lestari and PT Prima Sawit Borneo.
                             5. Saham MKM yang dimiliki oleh KSA dan MMS.                  5. MKM’s shares owned by KSA and MMS.

                             Perjanjian pinjaman tersebut mengatur pula beberapa           The loan agreement stipulated several covenants,
                             pembatasan, antara lain sebagai berikut:                      among others as follows:
                             1. MKM harus menjaga kondisi keuangan berikut,                1. MKM shall maintain the following financial
                                sebagaimana didefinisikan dalam perjanjian                    condition, as defined in the facility agreement:
                                fasilitas:                                                    - Current ratio for the related period not less
                                - Rasio lancar periode terkait tidak kurang                      than 1.0x.
                                   dari 1,0x.                                                 - Debt to equity ratio for the related period
                                - Rasio kewajiban terhadap ekuitas periode                       not more than 2.6x.
                                   terkait tidak lebih dari 2,6x.                             - Debt Service Coverage ratio for the related
                                - Rasio Debt Service Coverage periode                            period not less than 1.0x.
                                   terkait tidak kurang dari 1,0x.
                            2.    Mengasuransikan seluruh aset jaminan pada                2. Insure all pledged assets as collaterals to the
                                  Perseroan asuransi yang disetujui oleh BNI serta            insurance company approved by BNI and the
                                  dalam polis asuransi tersebut harus memuat                  insurance policy should include Banker's Clause.
                                  Banker's Clause.
                            3.    Tidak diperkenankan melakukan merger, akuisisi           3. Not allowed to conduct mergers, acquisitions and
                                  dan penjualan atau pemindahtanganan atau                    the sale or transfer or disposal of the Company’s
                                  pelepasan hak atas harta kekayaan Perseroan,                property rights, except in the ordinary course of
                                  kecuali dalam rangka kegiatan usaha sehari-hari.            day-to-day operations.

                            4.    Tidak diperkenankan melakukan pembayaran                 4. Not allowed to make repayments and/or settlement
                                  dan/atau pelunasan atas pinjaman yang diperoleh             of loans obtained from the Shareholder, affiliated
                                  dari Pemegang Saham, entitas berelasi, entitas              company, subsidiaries, and third parties.
                                  anak maupun pihak ketiga lainnya.
                            5.    Kegagalan perusahaan        afiliasi   memenuhi          5. Failure of affiliated companies to fulfill obligations
                                  kewajiban kepada bank.                                      to banks.




                                                                                 102




390 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 391
                                                              The original consolidated financial statements included herein
                                                                                            are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                 PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                            AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                   Notes to the CONSOLIDATED
                KONSOLIDASIAN                                               financial statements
          Tanggal 31 Desember 2023                                        As of December 31, 2023
         dan untuk tahun yang berakhir                                    and for year then ended
             pada tanggal tersebut                                   (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                   unless otherwise stated)
            kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                     22. BANK LOAN (continued)
   Fasilitas Kredit Investasi PT Bank Negara                      Investment Credit Facility from PT Bank Negara
   Indonesia (Persero) Tbk. (BNI) (lanjutan)                      Indonesia (Persero) Tbk. (BNI) (continued)
   Entitas anak (lanjutan)                                        Subsidiaries (continued)

    PT Mirza Pratama Putra (“MPP”)                                PT Mirza Pratama Putra (“MPP”)

    Berdasarkan perjanjian pinjaman yang dilegalisasi             Based on an Agreement of Investment Financing
    melalui Akta Notaris Tintin Surtini, S.H., M.H.,              which legalized by Notarial deed No. 18 and 19,
    M.kn., No. 18 dan 19 tanggal 4 November 2019,                 Notary of Tintin Surtini, S.H., M.H., M.kn., dated
    MPP memperoleh fasilitas pembiayaan investasi                 November 4, 2019, MPP obtained investment credit
    dan fasilitas Interest During Constructions (IDC)             facility and Interest During Constructions (IDC)
    dari BNI dengan batas maksimum kredit sebesar                 facility from BNI with a maximum amount of
    Rp169.803.000 dan Rp22.900.000 untuk tujuan                   Rp169,803,000 and Rp22,900,000, respectively to
    pembangunan pabrik kelapa sawit, biogas, dan                  finance construction of palm oil mill, biogas, and
    pembiayaan bunga selama masa pembangunan                      financing the interest during the construction
    pembagunan pabrik kelapa sawit dan biogas di                  Lamandau, Central of Kalimantan.
    Lamandau, Kalimantan tengah.
    Pinjaman tersebut akan dilunasi dalam 120                     This loan will be repaid in 120 (one hundred twenty)
    (seratus dua puluh) angsuran tiga bulanan, dengan             quarterly installments, with grace period of 2 (two)
    masa tenggang selama 2 (dua) tahun, angsuran                  years, the final installment will be due on
    terakhir akan jatuh tempo pada tanggal                        November 3, 2029 and bears interest at the rate of
    3 November 2029 dan dikenakan bunga                           9.25% (2022: 9.25%; 2021: 9.00%) per annum.
    masing-masing sebesar 9,25% (2022: 9,25%;
    2021: 9,00%) per tahun.

    Saldo pinjaman per 31 Desember 2023 adalah                    The      balance  of   these    loans    as    of
    sebesar Rp117.003.000 dan Rp19.242.590 Saldo                  December 31, 2023 amounted to Rp117,003,000
    tersebut merupakan bagian dari Fasilitas                      dan Rp19,242,590, respectively. The outstanding
    Pembiayaan Investasi dan IDC.                                 balances represents part of Investment Financing
                                                                  Facility and IDC.

    Fasilitas pinjaman ini dijamin dengan:                       The loan facilities are secured by:
    1. Lahan pembangunan pabrik kelapa sawit yang                1. Land for the construction of a palm oil mill
       diikat dengan Perjanjian Penyerahan Jaminan                  bounded by a Guarantee and Provision of
       dan Pemberian Kuasa (PPJPK) senilai                          Authority Agreement (PPJPK) amounted to
       Rp192.703.000.                                               Rp192,703,000.
    2. Saham MPP yang dimiliki oleh KSA dan MMS.                 2. MPP’s shares owned by KSA and MMS
    3. Penjaminan oleh PT Prima Sawit Borneo dan                 3. Corporate guarantee from PT Prima Sawit
       PT Mandiri Indah Lestari.                                    Borneo and PT Mandiri Indah Lestari.




                                                        103




                                                                                                                                               391
                                                                                                    PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                          Laporan Tahunan 2023 Annual Report
Page 392
                                                                                     The original consolidated financial statements included herein
                                                                                                                   are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                              PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                         AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                            financial statements
                                      Tanggal 31 Desember 2023                                     As of December 31, 2023
                                     dan untuk tahun yang berakhir                                 and for year then ended
                                         pada tanggal tersebut                                (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                unless otherwise stated)
                                        kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                      22. BANK LOAN (continued)
                            Fasilitas Kredit Investasi PT Bank Negara                    Investment Credit Facility from PT Bank Negara
                            Indonesia (Persero) Tbk. (BNI) (lanjutan)                    Indonesia (Persero) Tbk. (BNI) (continued)
                            Entitas anak (lanjutan)                                      Subsidiaries (continued)

                            PT Mirza Pratama Putra (“MPP”) (lanjutan)                    PT Mirza Pratama Putra (“MPP”) (continued)

                            Perjanjian pinjaman tersebut mengatur pula beberapa         The loan agreement stipulated several covenants,
                            pembatasan, antara lain sebagai berikut:                    among others as follows
                            1. MPP harus menjaga kondisi keuangan berikut,              1.     MPP shall maintain the following financial
                               sebagaimana didefinisikan dalam perjanjian                     condition, as defined in the facility agreement:
                               fasilitas:                                                     - Current ratio for the related period not less
                               - Rasio lancar periode terkait tidak kurang                       than 1.0x.
                                  dari 1,0x.                                                  - Debt to equity ratio for the related period
                               - Rasio kewajiban terhadap ekuitas periode                        not more than 2.6x.
                                  terkait tidak lebih dari 2,6x.                              - Debt Service Coverage ratio for the related
                               - Rasio Debt Service Coverage periode                             period not less than 1.0x.
                                  terkait tidak kurang dari 1,0x.
                            2. Mengasuransikan seluruh aset jaminan pada                2. Insure all pledged assets as collaterals to the
                               perusahaan asuransi yang disetujui oleh BNI serta           insurance company approved by BNI and the
                               dalam polis asuransi tersebut harus memuat                  insurance policy should include Banker's Clause.
                               Banker's Clause.
                            3. Tidak diperkenankan melakukan merger, akuisisi           3. Not allowed to conduct mergers, acquisitions and
                               dan penjualan atau pemindahtanganan atau                    the sale or transfer or disposal of the MPP’s
                               pelepasan hak atas harta kekayaan MPP, kecuali              property rights, except in the ordinary course of
                               dalam rangka kegiatan usaha sehari-hari.                    day-to-day operations.
                            4. Tidak diperkenankan melakukan pembayaran                 4. Not allowed to make repayments and/or settlement
                               dan/atau pelunasan atas pinjaman yang diperoleh             of loans obtained from the Shareholder, affiliated
                               dari Pemegang Saham, entitas berelasi, entitas              company, subsidiaries, and third parties.
                               anak maupun pihak ketiga lainnya.
                            5.    Kegagalan perusahaan       afiliasi   memenuhi        5. Failure of affiliated companies to fulfill obligations
                                  kewajiban kepada bank.                                   to banks.

                            PT Citra Borneo Utama Tbk. (“CBUT”)                          PT Citra Borneo Utama Tbk. (“CBUT”)

                            Berdasarkan Fasilitas Kredit No. LMC-2/2.1/091/R            Based on a Credit Facility No. LMC-2/2.1/091/R dated
                            tanggal 30 April 2018 yang kemudian diubah                  April 30, 2018 which was then amended by Letter
                            dengan Surat          No. KPS2/2.5/3081 tanggal             No. KPS2/2.5/3081 dated November 7, 2022, CBUT
                            7 November 2022, CBUT memperoleh fasilitas                  obtained credit loan facilities from PT Bank Negara
                            pinjaman kredit dari PT Bank Negara Indonesia               Indonesia (Persero) Tbk, which consist of:
                            (Persero) Tbk, yang terdiri dari:
                            a.    Fasilitas Investasi Pembiayaan Kembali dengan         a.    Investment Refinancing Facility with a
                                  batas maksimum kredit sebesar AS$11.697.153                 maximum credit limit of US$11,697,153 to
                                  untuk tujuan pembiayaan kembali pabrik kilang               refinance CBUT’s Refinery and Fractination
                                  minyak dan fraksinasi, beserta bangunan dan                 factory including building and supporting facilities,
                                  sarana pendukungnya milik CBUT, berlokasi di                located in CBUT’s industrial area. This facility
                                  kawasan industri CBUT. Fasilitas tersebut                   bears financing margin of 6% per annum with
                                  dikenakan margin pembiayaan sebesar 6% per                  term of credit of 84 (eighty-four) months,
                                  tahun dengan jangka waktu kredit selama 84                  commencing from the first drawdown and will be
                                  (delapan puluh empat) bulan, terhitung sejak                due for repayment on May 21, 2025.
                                  tanggal pencairan pertama dan akan jatuh tempo
                                  pada tanggal 21 Mei 2025.




                                                                               104




392 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 393
                                                                 The original consolidated financial statements included herein
                                                                                               are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                 PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                            AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                   Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                               financial statements
             Tanggal 31 Desember 2023                                        As of December 31, 2023
            dan untuk tahun yang berakhir                                    and for year then ended
                pada tanggal tersebut                                   (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                   unless otherwise stated)
               kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                        22. BANK LOAN (continued)

   Fasilitas Kredit Investasi PT Bank Negara                         Investment Credit Facility from PT Bank Negara
   Indonesia (Persero) Tbk. (BNI) (lanjutan)                         Indonesia (Persero) Tbk. (BNI) (continued)
   Entitas anak (lanjutan)                                           Subsidiaries (continued)

   PT Citra Borneo Utama Tbk. (“CBUT”) (lanjutan)                    PT Citra Borneo            Utama      Tbk.    (“CBUT”)
                                                                     (continued)

   Berdasarkan Fasilitas Kredit No. LMC-2/2.1/091/R                  Based on a Credit Facility No. LMC-2/2.1/091/R
   tanggal 30 April 2018 yang kemudian diubah                        dated April 30, 2018 which was then amended by
   dengan Surat          No. KPS2/2.5/3081 tanggal                   Letter No. KPS2/2.5/3081 dated November 7, 2022,
   7 November 2022, CBUT memperoleh fasilitas                        CBUT obtained credit loan facilities from PT Bank
   pinjaman kredit dari PT Bank Negara Indonesia                     Negara Indonesia (Persero) Tbk, which consist of:
   (Persero) Tbk, yang terdiri dari: (lanjutan)                      (continued)

   a.    Pada     tanggal 31 Desember 2022, saldo                    a. As of December 31, 2022, the outstanding loan
         pinjaman tersebut sebesar AS$6.599.779 atau                    was amounting to US$6,599,779 or equivalent to
         setara dengan Rp103.821.000.                                   Rp103,821,000.

         Pada tanggal 31 Desember 2023, pinjaman                         As of December 31, 2023, the loan has been fully
         tersebut telah dilunasi.                                        settled.
   b.    Fasilitas Kredit Investasi Pengembangan                     b. Refinery Development Investment Credit
         Kilang Minyak dengan batas maksimum kredit                     Facility with a maximum credit limit of
         sebesar    Rp134.825.000       untuk    tujuan                 Rp134,825,000 to develop refinery and
         pengembangan fasilitas pendukung pabrik                        fractination factory supporting facilities, located
         kilang minyak dan fraksinasi, berlokasi di                     in CBUT’s indstrial area. This facility bears
         kawasan industri CBUT. Fasilitas tersebut                      interest rate at 9.25% per annum with term of
         dikenakan bunga sebesar 9,25% per tahun                        credit of 84 (eighty-four) months, including 18
         dengan jangka waktu kredit selama 84 (delapan                  (eighteen)     months     of     grace       period,
         puluh empat) bulan, termasuk grace period 18                   commencing from the first drawdown and will
         (delapan belas) bulan, terhitung sejak tanggal                 be due for repayment on May 21,2025.
         pencairan pertama dan akan jatuh tempo pada
         tanggal 21 Mei 2025.

         Pada tanggal 31 Desember 2022, saldo                            As of December 31, 2022, the outstanding loan
         pinjaman tersebut sebesar AS$5.334.793, atau                    was amounting to US$5,334,793 or equivalent
         setara dengan Rp79.211.000.                                     to Rp79,211,000.

         Pada tanggal 31 Desember 2023, pinjaman                         As of December 31, 2023, the loan has been
         tersebut telah dilunasi seluruhnya.                             fully settled.

   c.    Fasilitas Kredit Investasi Pengembangan                     c. Refinery Development Investment Credit
         Kilang Minyak - Interest During Construction                   Facility - Interest During Construction with a
         dengan batas maksimum kredit sebesar                           maximum credit limit of Rp11,830,000 to
         Rp11.830.000 untuk tujuan pembiayaan 80%                       finance 80% of the interest cost on Refinery
         biaya bunga atas fasilitas Kredit Investasi                    Development Investment Credit Facility during
         Pengembangan Kilang Minyak selama masa                         the grace period. This facility bears financing
         grace period. Fasilitas tersebut dikenakan                     margin of 9.25% per annum with term of credit
         margin pembiayaan sebesar 9,25% per tahun                      of 84 (eighty-four) months, including 18
         dengan jangka waktu kredit selama 84                           (eighteen)     months     of   grace     period,
         (delapan puluh empat) bulan, termasuk grace                    commencing from the first drawdown and will
         period 18 (delapan belas) bulan terhitung sejak                be due for repayment on May 21, 2025.
         tanggal pencairan pertama dan akan jatuh
         tempo pada tanggal 21 Mei 2025.




                                                           105




                                                                                                                                                  393
                                                                                                       PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                             Laporan Tahunan 2023 Annual Report
Page 394
                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                           AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                  Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                              financial statements
                                      Tanggal 31 Desember 2023                                       As of December 31, 2023
                                     dan untuk tahun yang berakhir                                   and for year then ended
                                         pada tanggal tersebut                                  (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                  unless otherwise stated)
                                        kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                          22. BANK LOAN (continued)

                            Fasilitas Kredit Investasi PT Bank Negara                        Investment Credit Facility from PT Bank Negara
                            Indonesia (Persero) Tbk. (BNI) (lanjutan)                        Indonesia (Persero) Tbk. (BNI) (continued)

                            Entitas anak (lanjutan)                                          Subsidiaries (continued)

                            PT Citra Borneo Utama Tbk (“CBUT”) (lanjutan)                    PT Citra Borneo             Utama      Tbk    (“CBUT”)
                                                                                             (continued)

                            Berdasarkan Fasilitas Kredit No. LMC-2/2.1/091/R                 Based on a Credit Facility No. LMC-2/2.1/091/R
                            tanggal 30 April 2018 yang kemudian diubah dengan                dated April 30, 2018 which was then amended
                            Surat       No.        KPS2/2.5/3081         tanggal             by Letter No. KPS2/2.5/3081 dated November 7,
                            7 November 2022, CBUT memperoleh fasilitas                       2022, CBUT obtained credit loan facilities from
                            pinjaman kredit dari PT Bank Negara Indonesia                    PT Bank Negara Indonesia (Persero) Tbk, which
                            (Persero) Tbk, yang terdiri dari: (lanjutan)                     consist of: (continued)

                            c.    Pada tanggal 31 Desember 2022, saldo                       c.   As of December 31, 2022, the outstanding
                                  pinjaman tersebut sebesar AS$341.618 atau                       loan was amounting to US$341,618 or
                                  setara dengan Rp5.374.000.                                      equivalent to Rp5,374,000.

                                  Pada tanggal 31 Desember 2023, pinjaman                         As of December 31, 2023, the loan has been
                                  tersebut telah dilunasi seluruhnya.                             fully settled.

                            d.    Fasilitas Investasi Pembangunan Pabrik                     d.   Kernel      Crushing     Plant     Contruction
                                  Penghancur Kernel dengan batas maksimum                         Investment Financing Facility with a maximum
                                  kredit sebesar Rp90.505.000 untuk tujuan                        credit limit of Rp90,505,000 to finance the
                                  pembiayaan pembangunan fasilitas Pabrik                         CBUT’s Construction of Kernel Crushing Plant
                                  Penghancur Kernel, berlokasi di kawasan                         Facilities, located in the CBUT’s industrial
                                  industri CBUT. Fasilitas tersebut dikenakan                     area. This facility bears financing margin of
                                  margin pembiayaan sebesar 9,25% per tahun                       9.25% per annum with term of credit of 84
                                  dengan jangka waktu kredit selama 84 (delapan                   (eighty-four) months, including 18 (eighteen)
                                  puluh empat) bulan, termasuk grace period                       months of grace period, commencing from the
                                  18 (delapan belas) bulan, terhitung sejak                       first drawdown and will be due for repayment
                                  tanggal pencairan pertama dan akan jatuh                        on July 18, 2026.
                                  tempo pada tanggal 18 Juli 2026.

                                  Pada tanggal 31 Desember 2022, saldo                            As of December 31, 2022, the outstanding
                                  pinjaman tersebut sebesar AS$4.746.424 atau                     loan was amounting to US$4,746,424 or
                                  setara dengan Rp74.666.000.                                     equivalent to Rp74,666,000.

                                  Pada tanggal 31 Desember 2023, pinjaman                         As of December 31, 2023, the loan has been
                                  tersebut telah dilunasi seluruhnya.                             fully settled.




                                                                                   106




394 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 395
                                                                  The original consolidated financial statements included herein
                                                                                                are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                   financial statements
             Tanggal 31 Desember 2023                                            As of December 31, 2023
            dan untuk tahun yang berakhir                                        and for year then ended
                pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
               kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                         22. BANK LOAN (continued)

   Fasilitas Kredit Investasi PT Bank Negara                          Investment Credit Facility from PT Bank Negara
   Indonesia (Persero) Tbk. (BNI) (lanjutan)                          Indonesia (Persero) Tbk. (BNI) (continued)

   Entitas anak (lanjutan)                                            Subsidiaries (continued)

   PT Citra Borneo Utama Tbk (“CBUT”) (lanjutan)                      PT Citra Borneo             Utama      Tbk      (“CBUT”)
                                                                      (continued)

   Berdasarkan Fasilitas Kredit No. LMC-2/2.1/091/R                   Based on a Credit Facility No. LMC-2/2.1/091/R
   tanggal 30 April 2018 yang kemudian diubah dengan                  dated April 30, 2018 which was then amended
   Surat       No.        KPS2/2.5/3081         tanggal               by Letter No. KPS2/2.5/3081 dated November 7,
   7 November 2022, CBUT memperoleh fasilitas                         2022, CBUT obtained credit loan facilities from
   pinjaman kredit dari PT Bank Negara Indonesia                      PT Bank Negara Indonesia (Persero) Tbk, which
   (Persero) Tbk, yang terdiri dari: (lanjutan)                       consist of: (continued)

   e.    Fasilitas Investasi Pembangunan Pabrik                       e.     Kernel Crushing Plant Contruction Investment
         Penghancur     Kernel -      Interest    During                     Financing     Facility   -    Interest  During
         Construction dengan batas maksimum kredit                           Construction with a maximum credit limit of
         sebesar Rp7.941.000 untuk tujuan pembiayaan                         Rp7,941,000 to finance 80% of the interestcost
         80% biaya bunga atas fasilitas Kredit Investasi                     on Kernel Crushing Plant Contruction
         Pembangunan Pabrik Penghancur Kernel                                Investment Financing Facility during the grace
         selama masa grace period. Fasilitas tersebut                        period. This facility bears financing margin of
         dikenakan margin pembiayaan sebesar 9,25%                           9.25% per annum with term of credit of 84
         per tahun dengan jangka waktu kredit selama                         (eighty-four) months, including 18 (eighteen)
         84 (delapan puluh empat) bulan, termasuk                            months of grace period, commencing from the
         grace period 18 (delapan belas) bulan, terhitung                    first drawdown and will be due for repayment
         sejak tanggal pencairan pertama dan akan                            on July 18, 2026.
         jatuh tempo pada tanggal 18 Juli 2026.

         Pada tanggal 31 Desember 2022, saldo                                As of December 31, 2022, the outstanding
         pinjaman tersebut sebesar AS$344.161 atau                           loan was amounting to US$344,161 or
         setara dengan Rp5.414.000.                                          equivalent to Rp5,414,000, respectively.

         Pada tanggal 31 Desember 2023, pinjaman                             As of December 31, 2023, the loan has been
         tersebut telah dilunasi seluruhnya.                                 fully settled.

   f.    Fasilitas Kredit Modal Kerja dengan batas                    f.     Working Capital Credit Facility with a
         maksimum kredit sebesar AS$75.000.000                               maximum credit limit of US$75,000,000 to
         untuk tujuan pembiayaan modal kerja pabrik                          finance working capital of Refinery factory
         kilang minyak yang berlokasi di kawasan                             located in the SBI’s industrial area. This facility
         industri SBI. Fasilitas tersebut   dikenakan                        bears financing margin of 6% per annum with
         margin pembiayaan sebesar 6% per tahun                              the    term of credit of 12 (twelve) months,
         dengan jangka waktu kredit selama 12 (dua                           commencing from the first drawdown and will
         belas bulan) bulan, terhitung sejak tanggal                         be due for repayment on May 3, 2024.
         pencairan pertama dan akan jatuh tempo pada
         tanggal 3 Mei 2024.

         Pada tanggal 31 Desember 2022, saldo                                As of December 31, 2022, the outstanding
         pinjaman tersebut sebesar AS$61.914.798 atau                        loan was amounting to US$61,914,798 or
         setara dengan Rp973.982.000.                                        equivalent to Rp973,982,000.

         Pada tanggal 31 Desember 2023, pinjaman                             As of December 31, 2023, the loan has been
         tersebut telah dilunasi seluruhnya.                                 fully settled.




                                                            107




                                                                                                                                                    395
                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 396
                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                 financial statements
                                      Tanggal 31 Desember 2023                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                      and for year then ended
                                         pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                          22. BANK LOAN (continued)

                            Fasilitas Kredit Investasi PT Bank Negara                        Investment Credit Facility from PT Bank Negara
                            Indonesia (Persero) Tbk. (BNI) (lanjutan)                        Indonesia (Persero) Tbk. (BNI) (continued)

                            Entitas anak (lanjutan)                                          Subsidiaries (continued)

                            PT Citra Borneo Utama Tbk (“CBUT”) (lanjutan)                    PT Citra Borneo             Utama     Tbk     (“CBUT”)
                                                                                             (continued)

                            Pinjaman bank tersebut dijamin dengan:                           These bank loans are secured by:

                            1.    Tanah kawasan industri milik PT Surya Borneo                1. Land of industrial area owned by PT Surya
                                  Industri yang berlokasi di Desa Kumai Hulu,                    Borneo Industri located at Sub-district of Kumai
                                  Kecamatan Kumai, Kabupaten Kotawaringin                        Hulu, District of Kumai, Kotawaringin Barat
                                  Barat, Provinsi Kalimantan Tengah termasuk                     Regency,       Central Kalimantan Province
                                  sebagian bangunan di atasnya.                                  including part of the building thereon.
                            2.    Tambahan jaminan berupa tanah milik PT Mitra                2. Additional guarantee in the form of land owned
                                  Mendawai Sejati yang berlokasi di Desa                         by PT Mitra Mendawai Sejati located at Sub-
                                  Umpang, Kecamatan Arut Selatan, Kabupaten                      district of Umpang, District of Arut Selatan,
                                  Kotawaringin Barat, Provinsi Kalimantan                        Kotawaringin      Barat     Regency,      Central
                                  Tengah.                                                        Kalimantan Province.
                            3.    Persediaan milik CBUT.                                      3. Inventories owned by CBUT.
                            4.    Piutang milik CBUT.                                         4. Receivables owned by CBUT.
                            5.    Jaminan oleh PT Citra Borneo Indah.                         5. Corporate guarantee from PT Citra Borneo
                                                                                                 Indah.
                            Atas pinjaman-pinjaman yang diterima CBUT,                       On loans received by CBUT, the creditors generally
                            umumnya para kreditur mensyaratkan adanya                        entails restrictions and certain obligation that
                            pembatasan-pembatasn dan kewajiban tertentu                      should be met by CBUT, which generally include
                            yang harus dipenuhi oleh CBUT, yang pada                         the followings:
                            umumnya meliputi:

                            •     Melakukan       peleburan,      penggabungan,               •      Carrying out a merger, consolidation,
                                  pengambilalihan ataupun penyertaan modal.                          acquisition, or share participation.
                            •     Mengubah komposisi pemegang saham,                          •      Changing      the    composition     of    the
                                  direktur, dan komisaris.                                           shareholders, directors and commissioners.
                            •     Mengubah status CBUT dan mengubah                           •      Changing CBUT’s status and amending the
                                  anggaran dasar, kecuali meningkatkan modal                         Company’s Article of Association, except
                                  dasar CBUT.                                                        increasing CBUT’s authorized capital.
                            •     Melakukan pembayaran dan/atau pelunasan                     •      Make repayments and/or settlement of
                                  atas pinjaman yang diperoleh dari pemegang                         loans obtained from the shareholder and
                                  saham dan entitas afiliasi.                                        affiliated.
                            •     Menerima pinjaman dari pihak lain.                          •      Obtaining loan from other parties.
                            •     Memberikan pinjaman kepada pihak lain,                      •      Providing loan to other parties, except in the
                                  kecuali dalam rangka transaksi operasional                         context of a reasonable business operational
                                  usaha yang wajar.                                                  transaction.
                            •     Melakukan      transaksi     leasing   dengan               •      Enterring into leasing transaction with
                                  perusahaan leasing.                                                leasing company.
                            •     Menjaminkan harta kekayaan CBUT kepada                      •      Pledging the assets of CBUT to other
                                  pihak lain.                                                        parties.
                            •     Mengubah bidang usaha atau membuka usaha                    •      Changing business operating or open new
                                  baru.                                                              businesses.
                            •     Membubarkan       CBUT      dan     mengajukan              •      Liquidating CBUT and file for bankruptcy.
                                  permohonan kepailitan.
                            •     Menjual atau dengan cara lain mengalihkan                   •      Selling or transferring shares of CBUT to
                                  saham CBUT kepada pihak lain.                                      other parties.



                                                                                   108




396 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 397
                                                                The original consolidated financial statements included herein
                                                                                              are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                  financial statements
            Tanggal 31 Desember 2023                                           As of December 31, 2023
           dan untuk tahun yang berakhir                                       and for year then ended
               pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
              kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                       22. BANK LOAN (continued)
   Fasilitas Kredit Investasi PT Bank Negara                        Investment Credit Facility from PT Bank Negara
   Indonesia (Persero) Tbk. (BNI) (lanjutan)                        Indonesia (Persero) Tbk. (BNI) (continued)
   Entitas anak (lanjutan)                                          Subsidiaries (continued)
   PT Citra Borneo Utama Tbk (“CBUT”) (lanjutan)                    PT Citra Borneo             Utama     Tbk      (“CBUT”)
                                                                    (continued)
   Atas pinjaman-pinjaman yang diterima CBUT,                       On loans received by CBUT, the creditors generally
   umumnya para kreditur mensyaratkan adanya                        entails restrictions and certain obligation that
   pembatasan-pembatasn dan kewajiban tertentu                      should be met by CBUT, which generally include
   yang harus dipenuhi oleh CBUT, yang pada                         the followings: (continued)
   umumnya meliputi: (lanjutan)
   •    Menggunakan dana pinjaman untuk tujuan di                    •      Using loan funds for purposes other than the
        luar usaha yang dibiayai.                                           financed business.
   •    Transaksi tidak wajar.                                       •      Unusual transaction.
   •    Melakukan interfinancing dengan perusahaan                   •      Interfinancing with affiliated company.
        afiliasi.
   •    Mengalihkan sebagian atau seluruh hak                        •      Transferring a part of or the entire rights
        dan/atau kewajiban CBUT berdasarkan                                 and/or obligations of the Company under
        perjanjian kredit kepada pihak lain.                                credit agreement to other party.
   •    Current ratio tidak kurang dari 1,0 kali.                    •      Current ratio not less than 1.0 times.
   •    Debt to equity ratio tidak lebih dari 2,5 kali.              •      Debt to equity ratio not more than 2.5 times.
   •    Debt service coverage ratio tidak kurang dari                •      Debt service coverage ratio not less than
        100%.                                                               100%.
   Pada tanggal 7 Maret 2022, CBUT telah                            On March 7, 2022, CBUT has obtained a letter of
   memperoleh surat pembebasan No. KPS2/2.5/574                     waiver No. KPS2/2.5/574 from PT Bank Negara
   dari PT Bank Negara Indonesia (Persero) Tbk untuk:               Indonesia (Persero) Tbk for:
   •    Melakukan penawaran umum perdana saham                       •     Carrying out an Initial Public Offering.
        (Initial Public Offering).
   •    Merubah status CBUT.                                         •     Changing CBUT’s status.
   •    Pemecahan nilai nominal saham.                               •     Changing the par value of share.
   •    Mengubah komposisi pemegang saham,                           •     Changing     the   composition   of             the
        Dewan Direksi dan komisaris.                                       shareholders, Board of Directors                and
                                                                           Commissioners.
   Berdasarkan Surat Pelunasan Fasilitas Kredit                     Based on the Credit Facility Repayment Letter
   No. COB.4/3/244/R tanggal 1 November 2023,                       No COB.4/3/244/R dated November 1, 2023,
   CBUT telah melakukan pelunasan terhadap seluruh                  CBUT has made settlement of all credit obligations
   kewajiban kredit tersebut kepada PT Bank Negara                  to PT Bank Negara Indonesia (Persero) Tbk.
   Indonesia (Persero) Tbk.
   Berdasarkan Perjanjian Pemberian Kredit Agunan                   Based on an Agreement Cash Collateral Credit for
   Tunai          Devisa          Hasil          Ekspor             Export Proceeds No. 001/COB4/CCCDHE/2023
   No. 001/COB4/CCCDHE/2023 tanggal 6 Oktober                       dated October 6, 2023, which was then amended
   2023, yang kemudian diubah dengan Surat                          by Letter No. (1) 001/COB4/CCCDHE/2023 dated
   No.    (1)    001/COB4/CCCDHE/2023           tanggal             December 7, 2023, CBUT obtained a Cash
   7 Desember 2023, CBUT memperoleh fasilitas                       Collateral Credit for Export Proceeds loan facility
   pinjaman kredit Agunan Tunai Devisa Hasil Ekspor                 from PT Bank Negara Indonesia (Persero) Tbk,
   dari PT Bank Negara Indonesia (Persero) Tbk,                     with a maximum credit limit of Rp1,250,000. This
   dengan     batas    maksimum       kredit   sebesar              facility bears interest rate at 0.5% above the interest
   Rp1.250.000. Fasilitas tersebut dikenakan bunga                  rate on deposits placed per annum with the term of
   sebesar 0,5% diatas suku bunga simpanan yang                     credit of 12 (twelve) months, commencing from the
   ditempatkan per tahun dengan jangka waktu kredit                 first drawdown and will be due for repayment on
   selama 12 (dua belas) bulan, terhitung sejak tanggal             October 5, 2024.
   pencairan pertama dan akan jatuh tempo pada
   tanggal 5 Oktober 2024.


                                                          109




                                                                                                                                                 397
                                                                                                      PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                            Laporan Tahunan 2023 Annual Report
Page 398
                                                                                            The original consolidated financial statements included herein
                                                                                                                          are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                 financial statements
                                      Tanggal 31 Desember 2023                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                      and for year then ended
                                         pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                             22. BANK LOAN (continued)
                            Fasilitas Kredit Investasi PT Bank Negara                           Investment Credit Facility from PT Bank Negara
                            Indonesia (Persero) Tbk. (BNI) (lanjutan)                           Indonesia (Persero) Tbk. (BNI) (continued)
                            Entitas anak (lanjutan)                                             Subsidiaries (continued)
                            PT Citra Borneo Utama Tbk (“CBUT”) (lanjutan)                       PT Citra Borneo             Utama     Tbk     (“CBUT”)
                                                                                                (continued)

                            Pada tanggal 31 Desember 2023, saldo pinjaman                       As of December 31, 2023, the outstanding loan was
                            tersebut sebesar AS$56.482.008 atau setara                          amounting to and US$56,482,008 or equivalent
                            dengan Rp870.727.000.                                               to Rp870,727,000, respectively.

                            Pinjaman    bank     tersebut   dijamin    dengan                   This bank loan is secured by current
                            giro/tabungan/deposito devisa hasil ekspor sumber                   account/savings/deposit from proceed from export
                            daya alam dengan minimal senilai penempatannya.                     of natural resources at least equal to the placement.

                            Fasilitas Kredit Investasi PT Bank Rakyat                           Investment Credit Facility from PT Bank Rakyat
                            Indonesia (Persero) Tbk. (BRI)                                      Indonesia (Persero) Tbk. (BRI)

                            Perseroan                                                           The Company

                            Berdasarkan perjanjian pinjaman yang dilegalisasi                   Based on an Agreement of Investment Financing
                            melalui Akta Notaris Tintin Surtini, S.H., M.H., M.kn.,             which legalized by Notarial deed No. 22, Notary of
                            No. 22 tanggal 30 Oktober 2019, Perseroan                           Tintin Surtini, S.H., M.H., M.kn., dated October 30,
                            memperoleh fasilitas pembiayaan kredit investasi                    2019, the Company obtained investment credit
                            dari BRI dengan batas maksimum kredit sebesar                       facility from BRI with a maximum amount of
                            Rp48.060.600 untuk tujuan pembelian unit lantai                     Rp48,060,600 to purchase unit office in Equity
                            sebagai kantor representasi perseroan di Equity                     Tower as the Company’s representative office in
                            Tower, Jakarta.                                                     Jakarta.

                            Pinjaman tersebut akan dilunasi dalam 96 (sembilan                  This loan will be repaid in 96 (ninety six) monthly
                            puluh enam) angsuran bulanan, dimana angsuran                       installments, and the final installment will be due on
                            terakhir akan jatuh tempo pada tanggal 31 Oktober                   October 31, 2027 and bears interest at rates
                            2027 dan dikenakan bunga antara 9,75% sampai                        ranging from 9.75% sampai 9.95% (2022: 9.75%
                            9,95% (2022: 9,75% sampai 9,95%; 2021: 9,75%                        until 9.95%; 2021: 9.75% sampai 13.50%) per
                            sampai 13,50%) per tahun.                                           annum.

                            Saldo pinjaman per 31 Desember 2023, adalah                         The balance of this loan as of December 31, 2023,
                            sebesar Rp23.056.812.                                               amounted to Rp23,056,812.

                            Fasilitas pinjaman ini dijamin dengan:                              The loan facility is secured by:
                            1. Kantor di Equity Tower Jakarta                                   1. Office space in Equity Tower Jakarta
                            2. Deposito senilai Rp6.007.575                                     2. Time deposit amounting Rp6,007,575

                            Perjanjian pinjaman tersebut mengatur pula                          The loan agreement stipulated several covenants,
                            beberapa pembatasan, antara lain sebagai berikut:                   among others as follows:

                            1.    Melakukan pembelian diatas harga pasar dan                    1.   Purchase good above market price and sell of
                                  menjual dibawah harga pasar                                        good with selling price below market price

                            2.    Tidak diperkenankan melakukan merger,                         2.   Not allowed to conduct mergers, acquisitions,
                                  akuisisi, dan penjualan atau pemindahtanganan                      and the sale or transfer or disposal of the
                                  atau pelepasan hak atas harta kekayaan                             Company’s property rights, except in the
                                  Perseroan, kecuali dalam rangka kegiatan                           ordinary course of day-to-day operations.
                                  usaha sehari-hari.




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398 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 399
                                                               The original consolidated financial statements included herein
                                                                                             are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                               PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                          AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                 Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                             financial statements
             Tanggal 31 Desember 2023                                      As of December 31, 2023
            dan untuk tahun yang berakhir                                  and for year then ended
                pada tanggal tersebut                                 (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                 unless otherwise stated)
               kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                      22. BANK LOAN (continued)

   Fasilitas Kredit Investasi PT Bank Rakyat                      Investment Credit Facility from PT Bank Rakyat
   Indonesia (Persero) Tbk (BRI). (lanjutan)                      Indonesia (Persero) Tbk. (BRI) (continued)
   Perseroan (lanjutan)                                           The Company (continued)

   Perjanjian pinjaman tersebut mengatur pula beberapa            The loan agreement stipulated several covenants,
   pembatasan, antara lain sebagai berikut: (lanjutan)            among others as follows: (continued)

   3.    Tidak diperkenankan melakukan pembayaran                 3. Not allowed to make repayments and/or settlement
         dan/atau pelunasan atas pinjaman yang diperoleh             of loans obtained from the Shareholder, affiliated
         dari Pemegang Saham, entitas berelasi, entitas              company, subsidiaries, and third parties.
         anak maupun pihak ketiga lainnya.
   4.    Kegagalan    Perseroan     afiliasi   memenuhi           4. Failure of affiliated companies to fulfill obligations
         kewajiban kepada bank                                       to banks

   Pinjaman Kredit PT Bank Rakyat Indonesia                       Credit Facilities from PT Bank Rakyat Indonesia
   (Persero) Tbk (BRI)                                            (Persero) Tbk. (BRI)
   Entitas anak                                                    Subsidiaries
   PT Citra Borneo Utama Tbk (“CBUT”)                              PT Citra Borneo Utama Tbk (“CBUT”)

   Berdasarkan Akta Perjanjian Kredit No. 16                       Based on a Deed of Credit Agreement No. 16 dated
   tanggal 18 Oktober 2023, CBUT memperoleh                        October 18, 2023, CBUT obtained a Special
   fasilitas pinjaman kredit Transaksional Khusus dari             Transactional credit facility from PT Bank Rakyat
   PT Bank Rakyat Indonesia (Persero) Tbk, dengan                  Indonesia (Persero) Tbk, with a maximum credit
   batas maksimum kredit sebesar Rp850.000.000                     limit of Rp850,000,000 to finance general corporate
   untuk      tujuan pembiayaan umum perusahaan.                   financing purposes. This facility bears interest rate
   Fasilitas tersebut dikenakan bunga sebesar 9,25%                at 9.25% per annum with the term of credit of
   per tahun dengan jangka waktu kredit selama 72                  72 (seventy-two) months, commencing from the
   (tujuh puluh dua) bulan, terhitung sejak tanggal                first drawdown and will be due for repayment on
   pencairan pertama dan akan jatuh tempo pada                     October 17, 2029.
   tanggal 17 Oktober 2029.

   Pada tanggal 31 Desember 2023, saldo pinjaman                   As of December 31, 2023, the outstanding loan was
   tersebut sebesar AS$55.137.519 atau setara                      amounting to US$55,137,519 or equivalent to
   dengan Rp850.000.000.                                           Rp850,000,000.




                                                         111




                                                                                                                                                399
                                                                                                     PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                           Laporan Tahunan 2023 Annual Report
Page 400
                                                                                          The original consolidated financial statements included herein
                                                                                                                        are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                 financial statements
                                    Tanggal 31 Desember 2023                                          As of December 31, 2023
                                   dan untuk tahun yang berakhir                                      and for year then ended
                                       pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                      kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                           22. BANK LOAN (continued)

                            Pinjaman Kredit PT Bank Rakyat Indonesia                          Credit Facilities from PT Bank Rakyat Indonesia
                            (Persero) Tbk (BRI) (lanjutan)                                    (Persero) Tbk. (BRI) (continued)

                            Entitas anak (lanjutan)                                           Subsidiaries (continued)

                            PT Citra Borneo Utama Tbk (“CBUT”) (lanjutan)                     PT Citra Borneo             Utama     Tbk     (“CBUT”)
                                                                                              (continued)
                            Berdasarkan Akta Perjanjian Kredit No. 17 tanggal                 Based on a Deed of Credit Agreement No. 17 dated
                            18 Oktober 2023, CBUT memperoleh fasilitas                        October 18, 2023, CBUT obtained a Working
                            Pinjaman Kredit Modal Kerja dari PT Bank Rakyat                   Capital credit facilities from PT Bank Rakyat
                            Indonesia (Persero) Tbk, dengan batas maksimum                    Indonesia (Persero) Tbk, with a maximum credit
                            kredit sebesar AS$72.500.000 untuk tujuan                         limit of US$72,500,000 to finance working capital
                            pembiayaan modal kerja dan operasional pabrik                     and refinery factory operations located in the
                            kilang minyak yang berlokasi dikawasan industri                   Company’s industrial area. This facility bears
                            Perusahaan. Fasilitas tersebut dikenakan bunga                    interest rate at 6.5% per annum with the term of
                            sebesar 6,5% per tahun dengan jangka waktu                        credit of 12 (twelve) months, commencing from
                            kredit selama 12 (dua belas) bulan, terhitung sejak               the first drawdown and will be due for repayment on
                            tanggal pencairan pertama dan akan jatuh tempo                    October 17, 2024.
                            pada tanggal 17 Oktober 2024.

                           Pada tanggal 31 Desember 2023, saldo pinjaman                      As of December 31, 2023, the outstanding loan
                           tersebut sebesar AS$71.075.369 atau setara                         was amounting to US$71,075,369 or equivalent to
                           dengan Rp1.095.698.000.                                            Rp1,095,698,000.

                           Berdasarkan Akta Perjanjian Kredit No. 18 tanggal                  Based on a Deed of Credit Agreement No. 18 dated
                           18 Oktober 2023, CBUT memperoleh             fasilitas             October 18, 2023, CBUT obtained a Working
                           pinjaman kredit Modal Kerja W/A dari PT Bank                       Capital W/A credit facility from PT Bank Rakyat
                           Rakyat Indonesia (Persero) Tbk, dengan batas                       Indonesia (Persero) Tbk, with a maximum credit
                           maksimum kredit sebesar AS$20.000.000 untuk                        limit of US$20,000,000 to finance purchase of
                           tujuan pembiayaan pembelian minyak sawit mentah.                   crude palm oil. This facility bears interest rate at
                           Fasilitas tersebut dikenakan bunga sebesar 6,5%                    6.5% per annum with the term of credit of 12
                           per tahun dengan jangka waktu kredit selama 12                     (twelve) months, commencing from the first
                           (dua belas) bulan, terhitung sejak tanggal pencairan               drawdown and will be due for repayment on
                           pertama dan akan jatuh tempo pada tanggal                          October 17, 2024.
                           17 Oktober 2024.

                           Pada tanggal 31 Desember 2023, saldo pinjaman                      As of December 31, 2023, the outstanding loan was
                           tersebut sebesar AS$11.159.576 atau setara                         amounting to US$11,159,576 or equivalent to
                           dengan Rp172.036.000.                                              Rp172,036,000.

                           Berdasarkan Akta Perjanjian Kredit No. 19 tanggal                  Based on a Credit Agreement Deed No. 19 dated
                           18 Oktober 2023, CBUT memperoleh fasilitas                         October 18, 2023, CBUT obtained a Forex Line
                           pinjaman kredit Forex Line dari PT Bank Rakyat                     credit facility from PT Bank Rakyat Indonesia
                           Indonesia (Persero) Tbk, dengan batas maksimum                     (Persero) Tbk, with a maximum credit limit of
                           kredit sebesar AS$20.000.000. Fasilitas tersebut                   US$20,000,000. This facility bears interest rate at
                           dikenakan bunga sebesar 6,5% per tahun dengan                      6.5% per annum with the term of credit of 12
                           jangka waktu kredit selama 12 (dua belas) bulan,                   (twelve) months, commencing from the first
                           terhitung sejak tanggal pencairan pertama dan akan                 drawdown and will be due for repayment on
                           jatuh tempo pada tanggal 17 Oktober 2024.                          October 17, 2024.




                                                                                    112




400 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 401
                                                                    The original consolidated financial statements included herein
                                                                                                  are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                     financial statements
             Tanggal 31 Desember 2023                                              As of December 31, 2023
            dan untuk tahun yang berakhir                                          and for year then ended
                pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
               kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                           22. BANK LOAN (continued)

   Pinjaman Kredit PT Bank Rakyat Indonesia                             Credit Facilities from PT Bank Rakyat Indonesia
   (Persero) Tbk (BRI) (lanjutan)                                       (Persero) Tbk. (BRI) (continued)

   Entitas anak (lanjutan)                                              Subsidiaries (continued)
   PT Citra Borneo Utama Tbk (“CBUT”) (lanjutan)                        PT Citra Borneo            Utama      Tbk      (“CBUT”)
                                                                        (continued)

   Pada tanggal 31 Desember              2023,    fasilitas             As of December 31, 2023, these facilities had not
   tersebut belum digunakan.                                            been utilized yet.
   Pinjaman bank tersebut dijamin dengan:                               These bank loans are secured by:

   1.   Piutang usaha milik            CBUT        senilai              1.  CBUT’s trade receivables are worth
        Rp750.000.000.                                                      Rp750,000,000.
   2.   Persediaan         milik       CBUT        senilai              2. CBUT           owned         inventory     worth
        Rp1.000.000.000.                                                    Rp1,000,000,000.
   3.   Bangunan Jetty milik PT Surya Borneo                            3. Jetty building owned by PT Surya Borneo
        Industri, pihak berelasi, senilai Rp48.488.000                      Industri, a related party, worth Rp48,488,000.
   4.   Tanah beserta bangunan seluas 268.200 m2                        4. Land area including buildings covering an area
        milik PT Surya Borneo Industri, pihak berelasi,                     of 268,200 m2 owned by PT Surya Borneo
        di kelurahan Kumai Hulu, dengan sertifikat Hak                      Industri, a related party, in Kumai Hulu sub-
        Guna Bangunan (HGB) No.00018.                                       district, with Building Use Rights (HGB)
                                                                            certificate No.00018.
   5.   Tanah beserta bangunan seluas 313.300 m2                        5. Land area including buildings covering an area
        milik PT Surya Borneo Industri, pihak berelasi,                     of 313,300 m2 owned by PT Surya Borneo
        di kelurahan Kumai Hulu, dengan sertifikat Hak                      Industri, a related party, in Kumai Hulu sub-
        Guna Bangunan (HGB) No.00019.                                       district, with Building Use Rights (HGB)
                                                                            certificate No.00019.
   6.   Tanah beserta bangunan seluas 101.400 m2                        6. Land area including buildings covering an area
        milik PT Surya Borneo Industri, pihak berelasi,                     of 101,400 m2 owned by PT Surya Borneo
        di kelurahan Kumai Hulu, dengan sertifikat Hak                      Industri, a related party, in Kumai Hulu sub-
        Guna Bangunan (HGB) No. 00020.                                      district, with Building Use Rights (HGB)
                                                                            certificate No.00020.
   7.   Tanah beserta bangunan seluas 34.800 m2                         7. Land area including buildings covering an area
        milik PT Surya Borneo Industri, pihak berelasi,                     of 34,800 m2 owned by PT Surya Borneo
        di kelurahan Kumai Hulu, dengan sertifikat Hak                      Industri, a related party, in Kumai Hulu sub-
        Guna Bangunan (HGB) No. 00021.                                      district, with Building Use Rights (HGB)
                                                                            certificate No. 00021.
   8.   Tanah beserta bangunan seluas 139.700 m2                        8. Land area including buildings covering an area
        milik PT Surya Borneo Industri, pihak berelasi,                     of 139,700 m2 owned by PT Surya Borneo
        di kelurahan Kumai Hulu, dengan sertifikat Hak                      Industri, a related party, in Kumai Hulu sub-
        Guna Bangunan (HGB) No. 00138.                                      district, with Building Use Rights (HGB)
                                                                            certificate No. 00138.
   9.   Tanah beserta bangunan seluas 4.474 m2 milik                    9. Land area including building covering an area
        PT Surya Borneo Industri, pihak berelasi, di                        of 4,474 m2 owned by PT Surya Borneo
        kelurahan Kumai Hulu, dengan sertifikat Hak                         Industri, a related party, in Kumai Hulu sub-
        Guna Bangunan (HGB) No. 00139.                                      district, with Building Use Rights (HGB)
                                                                            certificate No. 00139.
   10. Tanah beserta bangunan seluas 88.700 m2                          10. Land area including buildings covering an area
       milik PT Surya Borneo Industri, pihak berelasi,                      of 88,700 m2 owned by PT Surya Borneo
       di kelurahan Kumai Hulu, dengan sertifikat Hak                       Industri, a related party, in Kumai Hulu sub-
       Guna Bangunan (HGB) No. 00140.                                       district, with Building Use Rights (HGB)
                                                                            certificate No. 00140.




                                                              113




                                                                                                                                                     401
                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                Laporan Tahunan 2023 Annual Report
Page 402
                                                                                              The original consolidated financial statements included herein
                                                                                                                            are in the Indonesian language.

                                PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
                                      DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
                                   Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                                           KONSOLIDASIAN                                                      financial statements
                                     Tanggal 31 Desember 2023                                               As of December 31, 2023
                                    dan untuk tahun yang berakhir                                           and for year then ended
                                        pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
                                   (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
                                       kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                               22. BANK LOAN (continued)

                            Pinjaman Kredit PT Bank Rakyat Indonesia                              Credit Facilities from PT Bank Rakyat Indonesia
                            (Persero) Tbk (BRI) (lanjutan)                                        (Persero) Tbk. (BRI) (continued)

                            Entitas anak (lanjutan)                                              Subsidiaries (continued)

                            PT Citra Borneo Utama Tbk (“CBUT”) (lanjutan)                         PT Citra Borneo            Utama      Tbk     (“CBUT”)
                                                                                                  (continued)

                           Pinjaman bank tersebut dijamin dengan: (lanjutan)                     These bank loans are secured by: (continued)

                                11. Tanah beserta bangunan seluas 44.500 m2                      11. Land area including buildings covering an area
                                    milik PT Surya Borneo Industri, pihak                            of 44,500 m2 owned by PT Surya Borneo
                                    berelasi, di kelurahan Kumai Hulu, dengan                        Industri, a related party, in Kumai Hulu sub-
                                    sertifikat Hak Guna Bangunan (HGB) No.                           district, with Building Use Rights (HGB)
                                    00141.                                                           certificate No. 00141.

                            Pembatasan dan kewajiban                                              Covenants and obligations
                            Atas pinjaman-pinjaman yang diterima CBUT,                            On loans received by CBUT, the creditors
                            umumnya para kreditur mensyaratkan adanya                             generally entails restrictions and certain obligation
                            pembatasan-pembatasan dan kewajiban tertentu                          that should be met by CBUT, which generally
                            yang harus dipenuhi oleh CBUT, yang pada                              include the followings:
                            umumnya meliputi:

                                 Mengubah bentuk, status hukum dan                                    Changing the form, legal entity status, scope
                                  lingkup kegiatan usaha CBUT, dan investasi                            of CBUT business, investment,              and
                                  serta penyertaan dibidang lain .                                      participation in other fields.
                                 Melakukan             merger, akuisisi, penjualan                    Carrying out a merger,           consolidation,
                                  aset perusahaan          dengan     nilai    diatas                   acquisition, or       selling  assets    above
                                  Rp1.000.000, kecuali yang telah ada.                                  Rp1,000,000, unless previously existed.
                                 Melakukan        pembayaran deviden, kecuali                         Distributing dividend, unless the financial
                                  syarat financial covenant telah terpenuh dan                          covenant conditions have been fulfilled and
                                  telah menyampaikan rencana pembagian                                  have submitted a dividend distribution plan
                                  deviden minimal 30 hari sebelum pembagian                             minimum 30 (thirty) days before the dividend
                                  deviden dilaksanakan.                                                 distributed.
                                 Mengubah komposisi pemegang saham                                    Changing the composition of shareholders
                                  dalam hal terjadi perubahan kepemilikan                               of CBUT in the case of a change in
                                  pemegang saham mayoritas.                                             ownership of the majority shareholder.
                                 Mengikat diri sebagai penanggung atau                                Binding as a guarantor of loan or other
                                  penjamin hutang atau kewajiban lainnya                                obligations to third parties, related parties, or
                                  terhadap pihak lain, perusahaan afiliasi, dan                         subsidiaries, unless previously existed.
                                  anak perusahaan kecuali yang telah ada.
                                 Menjaminkan harta kekayaan CBUT yang telah                           Pledging the assets of CBUT to other parties
                                  dijaminkan kepada bank ke pihak lain.                                 which have been pledged to the bank.
                                 Memberikan kredit kepada pihak manapun.                              Providing loan to other parties.
                                 Melunasi dan atau membayar utangkepada                               Settlement and/or repayments of loans
                                  pemegang saham sebelum utang bank di                                  obtained from the shareholder before loan to
                                  lunasi.                                                               the banks are fully repaid.
                                 Mengalihkan/menyerahkan kepada pihak lain,                           Tansferring a part of or the entire rights and/or
                                  sebagian atau seluruhnya atas hak dan                                 obligations of CBUT under credit agreement to
                                  kewajiban yang timbul berkaitan dengan                                other party.
                                  fasilitas kredit ini.




                                                                                        114




402 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 403
                                                                The original consolidated financial statements included herein
                                                                                              are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                 PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                            AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                   Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                               financial statements
            Tanggal 31 Desember 2023                                        As of December 31, 2023
           dan untuk tahun yang berakhir                                    and for year then ended
               pada tanggal tersebut                                   (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                   unless otherwise stated)
              kecuali dinyatakan lain)


22. UTANG BANK (lanjutan)                                       22. BANK LOAN (continued)

   Pinjaman Kredit PT Bank Rakyat Indonesia                         Credit Facilities from PT Bank Rakyat Indonesia
   (Persero) Tbk (BRI) (lanjutan)                                   (Persero) Tbk. (BRI) (continued)

   Entitas anak (lanjutan)                                         Subsidiaries (continued)

   PT Citra Borneo Utama Tbk (“CBUT”) (lanjutan)                    PT Citra Borneo            Utama      Tbk     (“CBUT”)
                                                                    (continued)

   Pembatasan dan kewajiban (lanjutan)                              Covenants and obligations (continued)
   Atas pinjaman-pinjaman yang diterima CBUT,                       On loans received by CBUT, the creditors
   umumnya para kreditur mensyaratkan adanya                        generally entails restrictions and certain obligation
   pembatasan-pembatasan dan kewajiban tertentu                     that should be met by CBUT, which generally
   yang harus dipenuhi oleh CBUT, yang pada                         include the followings: (continued)
   umumnya meliputi: (lanjutan)

       Mengajukan moratorium, membubarkan CBUT,                           Submitting a moratorium, liquidating CBUT
        melikuidasi atau permohonan penundaan                               or submitting the delay of loan payments
        kewajiban pembayaran utang, kepada instansi                         to the authorized institution.
        yang berwenang.
       Mengajukan dan menerima pinjaman dari bank                         Submitting and receiving loan from other
        atau lembaga keuangan termasuk penerbitan                           financial institutions, including issuance of
        obligasi.                                                           bonds.
       Menambah atau memberikan tambahan                                  Increasing      or     providing     additional
        piutang pihak berelasi dan piutang lain-lain.                       receivables to related parties and other
                                                                            receivables.
       Menambah atau menerima tambahan utang                              Increasing       or    receiving     additional
        pihak berelasi dan utang lain-lain.                                 payables       to related parties and other
                                                                            payables.
       Mengajukan permohonan pernyataan pailit                            File for bankruptcy to the commercial court.
        kepada pengadilan niaga.
       Menyewakan aset yang telah di agunkan                              Leasing assets which have been pledged for
        kepada bank.                                                        bank loans.
       Debt to equity ratio tidak lebih dari 300%.                        Debt to equity ratio not more than 300%.
       Interest Coverage Ratio tidak kurang dari                          Interest Coverage Ratio not less than 150%.
        150%.
       Rasio coverage aktiva lancar tidak kurang dari                     Current asset coverage ratio not less than
        155%.                                                               155%.
   Fasilitas   Kredit   Standard    Chartered    Bank               Credit Facilities from Standard Chartered Bank
   (“SCB”)                                                          (“SCB”)

   Perseroan, KSA, TSA, SMU, MMS, MKM, dan                          The Company, KSA, TSA, SMU, MMS, MKM, and
   MPP                                                              MPP
   Pada tanggal 18 Agustus 2023, Perseroan, KSA,                   On August 18, 2023, the Company, KSA, TSA,
   TSA, SMU, MMS, MKM, dan MPP memperoleh                          SMU, MMS, MKM, and MPP obtained short-term
   fasilitas pinjaman jangka pendek dari Standard                  loan facilities from Standard Chartered Bank
   Chartered Bank (“SCB”). Fasilitas ini tersedia                  (“SCB”). The facilities were available for a maximum
   dengan jumlah maksimum sebesar AS$20.000.000.                   amount of US$20,000,000. In 2023, the loan
   Pada tahun 2023, fasilitas pinjaman ini dikenakan               facilities are subject to interest at rates ranging from
   bunga dengan kisaran 9,0% hingga 9,2% per tahun.                9,0% to 9,2% per annum. Upon the expiration period
   Pada saat berakhirnya jangka waktu fasilitas, jangka            of the facilities, these facilities period shall be
   waktu fasilitas ini otomatis diperpanjang selama dua            automatically extended for twelve months.
   belas bulan.



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                                                                                                                                                 403
                                                                                                      PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                            Laporan Tahunan 2023 Annual Report
Page 404
                                                                                        The original consolidated financial statements included herein
                                                                                                                      are in the Indonesian language.

                                PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                      DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                   Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                           KONSOLIDASIAN                                                 financial statements
                                     Tanggal 31 Desember 2023                                          As of December 31, 2023
                                    dan untuk tahun yang berakhir                                      and for year then ended
                                        pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                   (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                       kecuali dinyatakan lain)


                      22. UTANG BANK (lanjutan)                                         22. BANK LOAN (continued)

                            Pemenuhan Kewajiban oleh Kelompok Usaha                         Fulfillment of Covenant by the Group for All
                            atas Seluruh Pinjaman Bank                                      Bank Loans

                            Pada tanggal 31 Desember 2022 dan 2021, seluruh                As of December 31, 2022 and 2021, the covenants
                            ketentuan atau pembatasan untuk semua pinjaman                 for those bank loans above has been fulfilled by the
                            bank tersebut diatas telah dipenuhi oleh Kelompok              Group.
                            Usaha.

                            Pada tanggal 31 Desember 2023, seluruh ketentuan               As of December 31, 2023, the covenants for those
                            atau pembatasan untuk semua pinjaman bank                      bank loans above has been fulfilled by the Group
                            tersebut diatas telah dipenuhi oleh Kelompok Usaha             except for the following matters.
                            kecuali pada hal-hal berikut.

                                 Pada tanggal 31 Desember 2023, MKM tidak                        As of December 31, 2023, MKM did not
                                  memenuhi persyaratan rasio lancar dan rasio                      comply with the current ratio and Debt Service
                                  keuangan Debt Service Coverage Ratio                             Coverage Ratio (DCSR) financial ratio
                                  (DCSR) yang memberikan hak kepada BNI                            covenant which gives the right to BNI to
                                  untuk meminta pembayaran sewaktu-waktu                           demand payment at any time prior to their
                                  sebelum jatuh tempo. Pada bulan Desember                         maturities. In December 2023, BNI has
                                  2023, MKM telah memperoleh surat waiver dari                     obtained a waiver letter from BNI whereby BNI
                                  BNI yang menyatakan BNI setuju untuk                             agreed to waive such financial ratio covenant
                                  mengesampingkan persyaratan atas rasio-                          for the year ended December 31, 2023.
                                  rasio tersebut untuk tahun yang berakhir pada
                                  tanggal 31 Desember 2023.

                                 Pada tanggal 31 Desember 2023, Perseroan                        As of December 31, 2023, the Company did
                                  tidak memenuhi persyaratan Debt to Equity                        not comply with the Debt to Equity Ratio,
                                  Ratio, Consolidated Net Debt to LTM adjusted                     Consolidated Net Debt to LTM adjusted
                                  EBITDA ratio, dan covenant rasio keuangan                        EBITDA ratio, and DCSR financial ratio
                                  DCSR yang memberikan hak kepada Sindikasi                        covenant which gives the right to Syndicated
                                  Bank untuk meminta pembayaran sewaktu-                           banks to demand payment at any time prior to
                                  waktu sebelum jatuh tempo. Pada bulan                            their maturities. In December 2023,
                                  Desember 2023, Perseroan telah memperoleh                        Syndicated banks has obtained a waiver letter
                                  surat waiver dari Sindikasi Bank yang                            from Syndicated banks whereby Syndicated
                                  menyatakan Sindikasi Bank setuju untuk                           banks agreed to waive such financial ratio
                                  mengesampingkan persyaratan atas rasio-                          covenant for the year ended December 31,
                                  rasio tersebut untuk tahun yang berakhir pada                    2023.
                                  tanggal 31 Desember 2023.




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404 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 405
                                                                         The original consolidated financial statements included herein
                                                                                                       are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                            PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                                       AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                              Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                          financial statements
           Tanggal 31 Desember 2023                                                   As of December 31, 2023
          dan untuk tahun yang berakhir                                               and for year then ended
              pada tanggal tersebut                                              (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                              unless otherwise stated)
             kecuali dinyatakan lain)


23. LIABILITAS SEWA PEMBIAYAAN                                         23. FINANCE LEASE LIABILITIES

   Liabilitas sewa pembiayaan Kelompok Usaha terdiri                          Finance lease liabilities represents liabilities of the
   dari:                                                                      Group as follows:

                                                            Disajikan kembali - Catatan 4/
                                                                 As restated - Note 4

                                                                               1 Januari 2022/
                                                                               January 1, 2022/
                                    31 Desember 2023/    31 Desember 2022/    31 Desember 2021/
                                    December 31, 2023    December 31, 2022    December 31, 2021

      Kendaraan                                                                                                                Vehicles
        PT Maybank Finance                   399.347               665.000             1.330.000                  PT Maybank Finance

  Pembayaran sewa minimum masa datang atas                                    Future minimum lease payments under finance
  liabilitas sewa pembiayaan dan nilai kini dari                              leases together with the present value of net
  pembayaran sewa minimum adalah sebagai berikut:                             minimum lease payments are as follows:

                                                            Disajikan kembali - Catatan 4/
                                                                As restated - Note 4

                                                                               1 Januari 2022/
                                                                               January 1, 2022/
                                    31 Desember 2023/    31 Desember 2022/    31 Desember 2021/
                                    December 31, 2023    December 31, 2022    December 31, 2021

    Dalam satu tahun                         399.347               665.000               665.000                           Within one year
    Lebih dari satu tahun tetapi                                                                                    After one year but not
      kurang dari dua tahun                         -                     -              665.000                   more than two years

    Jumlah pembayaran sewa minimum           399.347               665.000             1.330.000            Total minimum lease payment

    Nilai kini pembayaran sewa minimum       399.347               665.000             1.330.000 Present value of minimum lease payments
     Bagian yang jatuh tempo dalam satu
           tahun                             (399.347)            (665.000)             (665.000)                         Current portion

     Bagian jangka panjang                          -                     -              665.000                        Long-term portion



   Di tahun 2023, 2022, dan 2021, liabilitas sewa                             In 2023, 2022, and 2021, the finance leases
   pembiayaan dikenakan bunga berkisar antara                                 liabilities bear interest at rates ranging from 5.29%
   5,29% sampai dengan 6,76% (2022: 5,29% sampai                              to 6.76% (2022: 5.29% to 6.76%; 2021 and 3.48%
   dengan 6,76% dan 2021: 3,48% sampai dengan                                 to 5.07%) per annum. The finance lease liabilities
   5,07%) per tahun. Liabilitas sewa pembiayaan                               are secured by the related leased assets.
   dijamin dengan aset yang didanai oleh liabilitas
   tersebut.

   Dalam perjanjian-perjanjian sewa pembiayaan,                               In the lease agreements, the Group is not allowed to
   Kelompok Usaha tidak diperbolehkan untuk                                   use the vehicle for illegal purposes, deliver or bring
   menggunakan kendaraan untuk maksud yang                                    the leased assets outside the territory of the
   melawan hukum, mengirimkan atau membawa aset                               Republic of Indonesia, are obliged to keep the
   sewa ke luar wilayah Republik Indonesia,                                   leased assets in good condition and should not allow
   berkewajiban menjaga aset sewa pembiayaan                                  for the transfer of assets to another party during the
   dalam kondisi yang baik dan tidak memperbolehkan                           term of the agreements.
   untuk memindahtangankan aset sewa pembiayaan
   ke pihak lain selama masa perjanjian sewa
   pembiayaan.




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                                                                                                                                                             405
                                                                                                                  PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                        Laporan Tahunan 2023 Annual Report
Page 406
                                                                                                     The original consolidated financial statements included herein
                                                                                                                                   are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                               PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                          AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                 Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                             financial statements
                                    Tanggal 31 Desember 2023                                                      As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                  and for year then ended
                                       pada tanggal tersebut                                                 (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                 unless otherwise stated)
                                      kecuali dinyatakan lain)


                      24. UTANG OBLIGASI, NETO                                                     24. BONDS PAYABLE, NET
                                                                                        Disajikan kembali - Catatan 4/
                                                                                            As restated - Note 4

                                                                                                           1 Januari 2022/
                                                                                                           January 1, 2022/
                                                                 31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                                                 December 31, 2023   December 31, 2022    December 31, 2021

                             Surat utang senior                                 -          633.566.024         4.280.700.000                      Senior notes payable
                             Dikurangi: Biaya perolehan
                                surat utang senior yang belum                                                                        Less: Unamortized financing costs
                                diamortisasi                                    -             (498.719)          (33.637.636)                of senior notes payable

                                                                                -          633.067.305         4.247.062.364
                             Surat utang senior jatuh tempo
                               dalam satu tahun                                 -         (633.067.305)                    -    Current maturity of senior notes payable

                             Surat utang senior jangka panjang
                               setelah dikurangi bagian                                                                          Long-term senior notes payable - net of
                               jatuh tempo dalam satu tahun                     -                     -        4.247.062.364                         current maturity


                            Pada tanggal 23 Januari 2018, SSMS Plantation                                 On January 23, 2018, SSMS Plantation Holdings
                            Holdings Pte. Ltd. (“SPH”), entitas anak,                                     Pte. Ltd. (“SPH”), a subsidiary, issued the 7.75%
                            menerbitkan Surat Utang Senior sebesar                                        Senior Notes amounting US$300,000,000, which is
                            AS$300.000.000 dengan bunga 7,75%, yang akan                                  due in 2023 (the “Bonds”). The payment obligations
                            jatuh tempo di tahun 2023 (“Obligasi”). Kewajiban                             of SPH under the Senior Notes are unconditionally
                            pembayaran dari SPH berdasarkan Surat Utang                                   and irrevocably guaranteed by the Guarantors.
                            Senior ditanggung tanpa syarat dan tanpa dapat
                            ditarik kembali oleh para penjamin.

                            Perseroan, PT Citra Borneo Indah, PT Kalimantan                               The Company, PT Citra Borneo Indah,
                            Sawit Abadi, PT Tanjung Sawit Abadi, PT Sawit                                 PT Kalimantan Sawit Abadi, PT Tanjung Sawit
                            Multi Utama, PT Mirza Pratama Putra, PT Menteng                               Abadi, PT Sawit Multi Utama, PT Mirza Pratama
                            Kencana Mas, PT Natai Sawit Perkasa,                                          Putra, PT Menteng Kencana Mas, PT Natai Sawit
                            PT Mendawai Putra, PT Intrado Jaya Intiga,                                    Perkasa, PT Mendawai Putra, PT Intrado Jaya
                            PT Borneo Industri Terpadu, PT Surya Borneo                                   Intiga, PT Borneo Industri Terpadu, PT Surya
                            Energi, PT Citra Borneo Chemical, PT Borneo                                   Borneo Energi, PT Citra Borneo Chemical,
                            Industri Nusantara, dan PT Borneo Sawit Gemilang                              PT Borneo Industri Nusantara, and PT Borneo
                            (secara bersama-sama disebut sebagai “Para                                    Sawit Gemilang (collectively shall be referred as the
                            Penjamin”). Sehubungan dengan Oblligasi, Para                                 “Guarantors”). In relation to the Bonds, the
                            Penjamin telah menandatangani, antara lain,                                   Guarantors have entered into, among others, the
                            Indenture dan akta-akta jaminan Perseroan                                     Indenture and the deeds of corporate guarantees
                            tertanggal 23 Januari 2018, yang menunjukkan                                  dated January 23, 2018, pursuant to which the
                            bahwa para penjamin telah menyetujui untuk                                    Guarantors have agreed to unconditionally and
                            menjamin dengan tanpa syarat dan tidak dapat                                  irrevocably guarantee the due and punctual
                            ditarik kembali pembayaran secara tepat waktu dan                             payment of all amounts payable under the Bonds
                            sebagaimana mestinya atas seluruh jumlah yang                                 and the due and punctual performance and
                            harus dibayar atas Obligasi dan pelaksanaan serta                             observance by SPH of all other obligations of SPH
                            ketaatan secara tepat waktu dan sebagaimana                                   under the Bonds documents.
                            mestinya dari SPH atas seluruh kewajiban SPH
                            berdasarkan dokumen-dokumen Obligasi.

                            The Bank of New York Mellon, London Branch                                    The Bank of New York Mellon, London Branch is
                            bertindak sebagai wali amanat sehubungan dengan                               acting as a trustee in respect to the issuance of the
                            penerbitan Obligasi. Obligasi tersebut tercatat dan                           Bonds. The Bonds were listed and traded in the
                            diperdagangkan di Singapore Exchange Securities                               Singapore Exchange Securities Trading Limited on
                            Trading Limited pada tanggal 24 Januari 2018.                                 January 24, 2018.




                                                                                           118




406 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 407
                                                                The original consolidated financial statements included herein
                                                                                              are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                financial statements
           Tanggal 31 Desember 2023                                         As of December 31, 2023
          dan untuk tahun yang berakhir                                     and for year then ended
              pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
             kecuali dinyatakan lain)


24. UTANG OBLIGASI, NETO (lanjutan)                             24. BONDS PAYABLE, NET (continued)
   Obligasi tersebut dikenakan bunga sejak tanggal                 The Bonds bear          interest starting from
   23 Januari 2018 pada tingkat suku bunga sebesar                 January 23, 2018 at the rate of 7.75% per annum,
   7,75% per tahun, yang dibayarkan setiap 6 bulan                 paid semi-annually on January 23 and July 23 of
   pada tanggal 23 Januari dan 23 Juli setiap tahunnya,            each year, commencing on July 23, 2018.
   dimulai sejak tanggal 23 Juli 2018.
   Berikut    adalah    beberapa     janji-janji  atau             Below are covenants or limitations contained in the
   pembatasan-pembatasan        yang     terdapat    di            Indenture that applicable to and binding the
   Indenture berlaku untuk dan mengikat terhadap Para              Guarantors:
   Penjamin:
   1. Pembatasan        terhadap   utang   dan   saham             1. Limitation on indebtedness and preferred stock;
      preferen;
   2. Pembatasan        terhadap   pembayaran      yang            2. Limitation on restricted payments;
      dibatasi;
   3. Pembatasan terhadap batasan pembayaran                       3. Limitation on dividend and other payment
      dividen dan pembayaran lainnya yang                             restriction which affect restricted subsidiaries;
      mempengaruhi anak-anak Perseroan yang
      dibatasi;
   4. Pembatasan terhadap penjualan dan penerbitan                 4. Limitation on sales and issuance of capital stock
      modal saham pada anak-anak Perseroan yang                       in restricted subsidaries;
      dibatasi;
   5. Pembatasan        terhadap       pemberian                   5. Limitation on issuance of guarantees by
      penanggungan oleh anak-anak Perseroan yang                      restricted subsidiaries;
      dibatasi;
   6. Pembatasan terhadap transaksi              dengan            6. Limitation on transaction with shareholders and
      pemegang saham dan afiliasi;                                    affiliates;
   7. Pembatasan terhadap hak gadai;                               7. Limitation on liens;
   8. Pembatasan terhadap transaksi jual dan sewa                  8. Limitation on sale and leaseback transactions;
      kembali;
    9. Pembatasan terhadap penjualan aset;                         9. Limitation on asset sales;
   10. Pembatasan terhadap kegiatan usaha induk                    10. Limitation on the parent guarantors’ business
       Perseroan penjamin;                                             activities;
   11. Pembatasan terhadap kegiatan penerbit;                      11. Limitation on the activities of the issuer;
   12. Pemeliharaan asuransi;                                      12. Maintenance of insurance;
   13. Penetapan anak-anak Perseroan yang dibatasi                 13. Designation of restricted and unrestricted
       dan tidak dibatasi; dan                                         subsidiaries; and
   14. Anti-Layering.                                              14. Anti-Layering.

   Pada tanggal 14 Juli 2022 dan 29 Desember 2022,                 On July 14, 2022 and December 29, 2022, SPH, a
   SPH, entitas anak, telah melakukan pembayaran                   subsidiary, has made repayment of the Senior Notes
   kembali atas obligasi senior masing-masing senilai              amounting to Rp3,510,962,550 and Rp3,085,506,
   Rp3.510.962.550 and Rp3.085.506.                                respectively.
   Pada tanggal 19 Januari 2023, SPH, entitas anak,                On January 19, 2023, SPH, a subsidiary, has made
   telah melakukan pembayaran kembali atas obligasi                repayment of the Senior Notes amounting to
   senior senilai Rp633.067.305.                                   Rp633,067,305.




                                                          119




                                                                                                                                                 407
                                                                                                      PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                            Laporan Tahunan 2023 Annual Report
Page 408
                                                                                                          The original consolidated financial statements included herein
                                                                                                                                        are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                                     PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                                AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                       Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                                   financial statements
                                    Tanggal 31 Desember 2023                                                            As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                        and for year then ended
                                       pada tanggal tersebut                                                       (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                       unless otherwise stated)
                                      kecuali dinyatakan lain)


                      25. LIABILITAS IMBALAN KERJA                                                       25. EMPLOYEE BENEFIT LIABILITIES

                            Estimasi   liabilitas imbalan kerja tanggal                                        The estimated employee benefits liabilities as of
                            31 Desember 2023, 2022, dan 2021 adalah                                            December 31, 2023, 2022, and 2021 are as
                            sebagai berikut:                                                                   follows:
                            Liabilitas imbalan kerja karyawan jangka pendek                                    Short-term employee benefits liabilities
                                                                                         Disajikan kembali - Catatan 4/
                                                                                               As restated - Note 4

                                                                                                                1 Januari 2022/
                                                                                                                January 1, 2022/
                                                             31 Desember 2023/        31 Desember 2022/        31 Desember 2021/
                                                             December 31, 2023        December 31, 2022        December 31, 2021
                             Gaji, upah, dan bonus                  141.080.008               162.852.620              138.312.176              Salaries, wages, and bonus
                             Jamsostek                                6.906.407                 6.169.411                4.564.421                               Jamsostek
                                                                    147.986.415               169.022.031              142.876.597


                            Liabilitas imbalan kerja karyawan jangka panjang                                   Long-term employee benefits liabilities

                            Kelompok Usaha memberikan imbalan pensiun                                          The Group provides pension benefits for its
                            untuk karyawannya yang telah mencapai usia                                         employees who reach the retirement age of 55
                            pensiun pada umur 55 tahun (2022: 57 tahun dan                                     (2022: at the age of 57 and 2021: at the age of 57)
                            2021: 57 tahun) sesuai dengan Undang-Undang                                        based on the provisions of Labor Law Job Creation
                            Cipta Kerja No.11/2020. Liabilitas imbalan kerja                                   Law No.11/2020. The long-term employee benefits
                            jangka panjang tersebut tidak didanai.                                             liabilities is unfunded.

                            Kelompok Usaha mencatat liabilitas imbalan                                         The Group recorded the long-term employee
                            kerja karyawan jangka panjang berdasarkan hasil                                    benefit liabilities based on the calculation
                            perhitungan aktuaria yang dilakukan oleh                                           performed by Kantor Konsultan Aktuaria Yusi dan
                            Kantor Konsultan Aktuaria Yusi dan Rekan,                                          Rekan, an independent actuary, using the
                            aktuaris independen, dengan menggunakan                                            “Projected Unit Credit” method. The primary
                            metode “Projected Unit Credit”. Asumsi utama                                       actuarial assumptions are as follows:
                            yang digunakan untuk perhitungan aktuaris
                            tersebut adalah sebagai berikut:
                                                                  Untuk tahun yang Berakhir pada Tanggal 31 Desember 2023
                                                                             For the year Ended December 31, 2023


                          Tingkat diskonto                                                 6.37% - 7.10%                                                     Discount rate
                          Tingkat kenaikan gaji                                                        10%                     10%                 Rate of salary increase
                          Tingkat pengunduran diri                              10% untuk umur di bawah 30 tahun                                          Resignation rate
                                                                              dan menurun secara linear sampai 0%
                                                                                      pada umur 55 tahun/
                                                                                     10% at before 30 years
                                                                             of age and will linearly decrease until 0%
                                                                                        at 55 years of age
                          Tingkat mortalitas                            TMI 2019                 TMI 2019                 TMI 2019                           Mortality rate
                          Umur pensiun normal                                 55                        57                      57                  Normal retirement age

                                                     Untuk tahun yang Berakhir pada Tanggal 31 Desember 2022 - Disajikan kembali - Catatan 4/
                                                                 For the year Ended December 31, 2022 - As restated - Note 4


                          Tingkat diskonto                                                 5,52% - 7,43%                                                     Discount rate
                          Tingkat kenaikan gaji                                                        10%                                         Rate of salary increase
                          Tingkat pengunduran diri                              10% untuk umur di bawah 30 tahun                                       Resignation rate
                                                                              dan menurun secara linear sampai 0%
                                                                                      pada umur 57 tahun/
                                                                                     10% at before 30 years
                                                                             of age and will linearly decrease until 0%
                                                                                        at 57 years of age
                          Tingkat mortalitas                                                     TMI 2019                                                  Mortality rate
                          Umur pensiun normal                                                           57                                        Normal retirement age




                                                                                              120




408 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 409
                                                                                  The original consolidated financial statements included herein
                                                                                                                are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                                     PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                                AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                                       Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                                   financial statements
            Tanggal 31 Desember 2023                                                            As of December 31, 2023
           dan untuk tahun yang berakhir                                                        and for year then ended
               pada tanggal tersebut                                                       (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                                       unless otherwise stated)
              kecuali dinyatakan lain)


25. LIABILITAS IMBALAN KERJA (lanjutan)                                          25. EMPLOYEE BENEFIT LIABILITIES (continued)

   Liabilitas imbalan kerja karyawan jangka panjang                                    Long-term           employee        benefits        liabilities
   (lanjutan)                                                                          (continued)

   Kelompok Usaha mencatat liabilitas imbalan                                          The Group recorded the long-term employee
   kerja karyawan jangka panjang berdasarkan hasil                                     benefit liabilities based on the calculation
   perhitungan aktuaria yang dilakukan oleh                                            performed by Kantor Konsultan Aktuaria Yusi dan
   Kantor Konsultan Aktuaria Yusi dan Rekan,                                           Rekan, an independent actuary, using the
   aktuaris independen, dengan menggunakan                                             “Projected Unit Credit” method. The primary
   metode “Projected Unit Credit”. Asumsi utama                                        actuarial assumptions are as follows: (continued)
   yang digunakan untuk perhitungan aktuaris
   tersebut adalah sebagai berikut: (lanjutan)
                             Untuk tahun yang Berakhir pada Tanggal 31 Desember 2021 - Disajikan kembali - Catatan 4/
                                         For the year Ended December 31, 2021 - As restated - Note 4


  Tingkat diskonto                                                 3,40% - 7,55%                                                        Discount rate
  Tingkat kenaikan gaji                                                        10%                                            Rate of salary increase
  Tingkat pengunduran diri                              10% untuk umur di bawah 30 tahun                                            Resignation rate
                                                      dan menurun secara linear sampai 0%
                                                              pada umur 57 tahun/
                                                             10% at before 30 years
                                                     of age and will linearly decrease until 0%
                                                                at 57 years of age
  Tingkat mortalitas                                                     TMI 2019                                                       Mortality rate
  Umur pensiun normal                                                           57                                             Normal retirement age


                                                          Untuk tahun yang berakhir
                                                         pada Tanggal 31 Desember/
                                                      For the years ended December 31,

                                                                                      2022
                                                                              (Disajikan kembali -
                                                                                  Catatan 4)/
                                                                                 (As restated -
                                                            2023                  Note 4)

  Beban jasa kini                                          40.882.579                25.007.522                    Addition of current service cost
  Beban bunga                                              10.866.843                 1.988.298                                        Interest cost
  Biaya jasa lalu                                          19.304.858                         -                                   Past service cost
  Penyesuaian karena perubahan                                                                                       Adjustment due to change in
    periode atribusi manfaat                                            -          (98.403.248)                       benefit attribution period
  Pengakuan seketika                                                                                             Immediate recognition on effect of
    atas mutasi karyawan                                    (1.084.411)              (1.188.291)                          transferred employees

                                                           69.969.869               (72.595.719)




                                                                      121




                                                                                                                                                                         409
                                                                                                                             PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                    Laporan Tahunan 2023 Annual Report
Page 410
                                                                                                 The original consolidated financial statements included herein
                                                                                                                               are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                           PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                      AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                             Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                         financial statements
                                    Tanggal 31 Desember 2023                                                  As of December 31, 2023
                                   dan untuk tahun yang berakhir                                              and for year then ended
                                       pada tanggal tersebut                                             (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                             unless otherwise stated)
                                      kecuali dinyatakan lain)


                      25. LIABILITAS IMBALAN KERJA (lanjutan)                                    25. EMPLOYEE BENEFIT LIABILITIES (continued)

                            Liabilitas imbalan kerja karyawan jangka panjang                          Long-term         employee        benefits      liabilities
                            (lanjutan)                                                                (continued)

                            Mutasi liabilitas imbalan aktuarial di laporan posisi                     The movement of estimated actuarial liabilities in
                            keuangan konsolidasian adalah sebagai berikut:                            the consolidated statements of financial position
                                                                                                      were as follows:
                                                                               Untuk tahun yang berakhir
                                                                              pada Tanggal 31 Desember/
                                                                           For the years ended December 31,

                                                                                                      2022
                                                                                              (Disajikan kembali -
                                                                                                  Catatan 4)/
                                                                                                 (As restated -
                                                                                2023              Note 4)

                            Saldo awal                                        155.732.232         193.162.215                               Beginning Balance

                            Beban imbalan kerja                                 69.969.869         (72.595.719)                   Employee benefit expenses
                            Transfer masuk/(keluar) karyawan                                                                                Transfer of in/(out)
                              ke pihak bereasi                                  1.162.245             (517.555)               employee to related parties
                            Pembayaran selama tahun berjalan                  (18.089.635)          (6.103.833)                       Payment during the year
                            Kerugian/(keuntungan) aktuarial                                                                      Actuarial loss/(gain) charged
                              yang diakui sebagai laba/kerugian                                                                    to other comprehensive
                              komprehensif lainnya:                                                                                           income/loss:
                               - Perubahan asumsi keuangan                        271.058          48.216.107         Changes in financial assumptions -
                               - Penyesuaian pengalaman                       (12.692.849)         (6.428.983)                Experience adjustments -

                            Saldo akhir                                       196.352.920         155.732.232                                 Ending balance


                            Analisa sensitivitas kuantitatif untuk asumsi-asumsi                      The quantitative sensitivity analysis for significant
                            yang signifikan pada tanggal 31 Desember 2023,                            assumptions as of December 31, 2023, 2022, and
                            2022, dan 2021 terhadap nilai kewajiban imbalan                           2021 to the employee benefit liabilities are as
                            kerja adalah sebagai berikut:                                             follows:
                                                            Tingkat diskonto/                  Kenaikan gaji di masa depan/
                                                             Discount rates                      Future salary increases
                                                                        Pengaruh terhadap                   Pengaruh terhadap
                                                                             nilai kini                          nilai kini
                                                                            kewajiban                           kewajiban
                                                                             imbalan                             imbalan
                                                                               kerja/                              kerja/
                                                                             Effect on                           Effect on
                                                                          present value                       present value
                                                      Persentase/           of benefits       Persentase/       of benefits
                                                      Percentage           obligations        Percentage       obligations
                            31 Desember 2023                                                                                                 December 31, 2023
                               Kenaikan                           +1%         (12.769.623)            +1%             10.196.209                    Increase
                               Penurunan                          -1%          25.350.155             -1%            (32.158.894)                  Decrease

                            31 Desember 2022                                                                                                 December 31, 2022
                               Kenaikan                           +1%         (73.995.295)            +1%            (58.614.495)                   Increase
                               Penurunan                          -1%          66.841.476             -1%             93.542.894                   Decrease




                                                                                        122




410 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 411
                                                                        The original consolidated financial statements included herein
                                                                                                      are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                            PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                                       AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                              Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                          financial statements
           Tanggal 31 Desember 2023                                                   As of December 31, 2023
          dan untuk tahun yang berakhir                                               and for year then ended
              pada tanggal tersebut                                              (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                              unless otherwise stated)
             kecuali dinyatakan lain)


25. LIABILITAS IMBALAN KERJA (lanjutan)                                 25. EMPLOYEE BENEFIT LIABILITIES (continued)

   Jadwal jatuh tempo dari liabilitas imbalan pasti pada               The maturity profile of defined benefits obligation as of
   tanggal 31 Desember 2023:                                           December 31, 2023:
                                  31 Desember 2023/   31 Desember 2022/     31 Desember 2021/
                                  December 31, 2023   December 31, 2022     December 31, 2021
    1 tahun                               3.499.828           4.400.394               12.039.960                     Within one year
    2-5 tahun                            61.802.767          39.373.074              103.578.178                            2-5 years
    Lebih dari 5 tahun                2.330.882.978       1.332.492.915            3.607.082.899                    More than 5 years

   Durasi rata-rata kewajiban manfaat pasti pada akhir                 The average duration of the defined benefits plan
   periode pelaporan masing-masing adalah 15,77                        obligation at the end of reporting period is 15.77 (2022:
   (2022: 16,59 dan 2021: 19,38)        tahun untuk                    16.59 dan 2021: 19.38) years for the Group.
   Kelompok Usaha.

26. MODAL SAHAM                                                        26. SHARE CAPITAL
   a. Modal ditempatkan dan disetor penuh                                  a.     Issued and fully paid shares
       Komposisi kepemilikan saham Perseroan pada                                 The share capital ownership of the Company as
       tanggal 31 Desember 2023, 2022, dan 2021                                   of December 31, 2023, 2022, and 2021 are as
       adalah sebagai berikut:                                                    follows:
      31 Desember 2023                                                                                          December 31, 2023
                                      Jumlah            Persentase
                                      saham/           kepemilikan/
                                     Number of         Percentage of
      Pemegang saham                  shares            ownership               Jumlah/Total                           Shareholders

      PT Citra Borneo Indah              5.833.317             61,24%              583.331.710                  PT Citra Borneo Indah
      PT Putra Borneo Agro                                                                                      PT Putra Borneo Agro
        Lestari                            915.499              9,61%               91.549.930                               Lestari
      Masyarakat (masing-masing
        dibawah 5% kepemilikan)          2.776.184             29,15%              277.618.360       Public (each below 5% ownership)
                                         9.525.000            100,00%              952.500.000

      31 Desember 2022                                                                                         December 31, 2022
      (Disajikan Kembali - Catatan 4)                                                                       (As restated - Note 4)
                                      Jumlah            Persentase
                                      saham/           kepemilikan/
                                     Number of         Percentage of
      Pemegang saham                  shares            ownership               Jumlah/Total                           Shareholders
      PT Citra Borneo Indah              5.171.590             54,30%              517.158.940                  PT Citra Borneo Indah
      PT Putra Borneo Agro                                                                                      PT Putra Borneo Agro
        Lestari                            939.428              9,86%               93.942.841                               Lestari
      Masyarakat (masing-masing
        dibawah 5% kepemilikan)          3.413.982             35,84%              341.398.219       Public (each below 5% ownership)

                                         9.525.000            100,00%              952.500.000

      31 Desember 2021                                                                                         December 31, 2021
      (Disajikan Kembali - Catatan 4)                                                                       (As restated - Note 4)
                                      Jumlah            Persentase
                                      saham/           kepemilikan/
                                     Number of         Percentage of
      Pemegang saham                  shares            ownership               Jumlah/Total                           Shareholders
      PT Citra Borneo Indah              5.285.798             55,49%              528.579.830                  PT Citra Borneo Indah
      PT Putra Borneo Agro                                                                                      PT Putra Borneo Agro
        Lestari                          1.151.060             12,08%              115.106.032                               Lestari
      Masyarakat (masing-masing
        dibawah 5% kepemilikan)          3.088.142             32,43%              308.814.138       Public (each below 5% ownership)

                                         9.525.000            100,00%              952.500.000




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                                                                                                                                                         411
                                                                                                              PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                    Laporan Tahunan 2023 Annual Report
Page 412
                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                financial statements
                                      Tanggal 31 Desember 2023                                         As of December 31, 2023
                                     dan untuk tahun yang berakhir                                     and for year then ended
                                         pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
                                        kecuali dinyatakan lain)


                      26. MODAL SAHAM (lanjutan)                                        26. SHARE CAPITAL (continued)

                            b.    Dividen                                                   b.    Dividends
                                  Berdasarkan Akta Notaris Tintin Surtini, S.H.                   Based on Notarial Deed No. 55 of Tintin Surtini,
                                  MH. M.Kn., No. 55 mengenai Rapat Umum                           S.H. MH. M.Kn., regarding               Annual
                                  Pemegang Saham Tahunan untuk tahun buku                         Shareholders General Meeting for the 2020
                                  2020 pada tanggal 28 Mei 2021, para                             period on May 28, 2021, the shareholders
                                  pemegang saham        menyetujui pembagian                      approved dividend distribution amounting to
                                  dividen sebesar Rp290.427.470 (Rp30,49 per                      Rp290,427,470 (Rp30.49 per share), which has
                                  saham) yang telah dibagikan seluruhnya pada                     been fully paid on June 26, 2021.
                                  tanggal 26 Juni 2021.

                                  Berdasarkan Akta Notaris Aulia Taufani, S.H.,                   Based on Notarial Deed No. 31 of Aulia Taufani,
                                  No. 31 mengenai Rapat Umum Pemegang                             S.H. regarding Annual Shareholders General
                                  Saham Tahunan untuk tahun buku 2021 pada                        Meeting for the 2021 period on May 23, 2022,
                                  tanggal 23 Mei 2022, para pemegang saham                        the shareholders approved dividend distribution
                                  menyetujui pembagian dividen sebesar                            amounting to Rp763,437,036 (Rp80.15 per
                                  Rp763.435.437 (Rp80,15 per saham) yang                          share), which has been fully paid on June 21,
                                  telah dibagikan seluruhnya pada tanggal                         2022.
                                  21 Juni 2022.
                                  Berdasarkan hasil rapat Dewan Komisaris dan                     Based on Boards of Commissioners and
                                  Direksi Perseroan pada tanggal 30 September                     Directors meeting on September 30, 2022, the
                                  2022, Perseroan membagikan dividen interim                      Company has distributed the interim dividend
                                  sebesar Rp710.985.556 (Rp74,64 per saham).                      amounting to Rp710,985,556 (Rp74.64 per
                                  Dividen tersebut telah dibagikan seluruhnya                     share). The dividend has fully distributed on
                                  pada tanggal 3 Oktober 2022.                                    October 3, 2022.
                                  Berdasarkan Akta Notaris Aulia Taufani, S.H.,                   Based on Notarial Deed No. 29 of Aulia Taufani,
                                  No. 29 mengenai Rapat Umum Pemegang                             S.H., regarding Annual Shareholders General
                                  Saham Tahunan untuk tahun buku 2022 pada                        Meeting for the 2022 period on May 8, 2023, the
                                  tanggal 8 Mei 2023, para pemegang saham                         shareholders approved dividend distribution
                                  menyetujui pembagian dividen sebesar                            amounting to Rp710,985,556 (Rp74.64 per
                                  Rp710.985.556 (Rp74,64 per saham) yang                          share),   which     has    been fully     paid
                                  telah      dibagikan   seluruhnya       pada                    on June 8, 2023.
                                  tanggal 8 Juni 2023.

                                  Berdasarkan Keputusan Sirkuler sebagai                          Based on Circular Memo in lieu of the Annual
                                  pengganti Rapat Umum Pemegang Saham                             General Meeting of Shareholder of MMS, a
                                  Tahunan MMS, entitas anak, tanggal 30 Mei                       subsidiary, dated May 30, 2023 the
                                  2023, para pemegang saham MMS menyetujui                        shareholders approved dividend distribution to
                                  pembagian dividen kepada Perseroan dan                          the Company and PT Mandiri Indah Lestari
                                  PT Mandiri Indah Lestari masing-masing                          respectively   to    Rp104,050,000        and
                                  sebesar Rp104.050.000 dan Rp1.040.500.                          Rp1,040,500, which has been fully paid on
                                  Dividen tersebut telah dibagikan seluruhnya                     May 30, 2023.
                                  pada tanggal 30 Mei 2023.




                                                                                  124




412 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 413
                                                                                The original consolidated financial statements included herein
                                                                                                              are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                                    PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                                               AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                                      Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                                  financial statements
             Tanggal 31 Desember 2023                                                           As of December 31, 2023
            dan untuk tahun yang berakhir                                                       and for year then ended
                pada tanggal tersebut                                                      (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                                      unless otherwise stated)
               kecuali dinyatakan lain)


26. MODAL SAHAM (lanjutan)                                                    26. SHARE CAPITAL (continued)

   c.    Manajemen modal                                                             c.    Capital management
         Tujuan utama manajemen modal Kelompok                                             The primary objective of the Group’s capital
         Usaha adalah untuk memastikan Kelompok                                            management is to ensure that it maintains a
         Usaha menjaga peringkat kredit yang kuat dan                                      strong credit rating and healthy capital ratios in
         rasio modal yang sehat dalam rangka                                               order to support its business and maximize
         mendukung bisnisnya dan memaksimalkan                                             shareholder value.
         nilai bagi pemegang saham.

         Perseroan disyaratkan untuk memelihara tingkat                                    The Company is required under its loan
         permodalan tertentu oleh perjanjian pinjaman                                      agreements to maintain certain level of share
         (Catatan 22). Perseroan telah memenuhi                                            capital (Note 22). The Company has complied
         persyaratan tersebut. Selain itu, Perseroan juga                                  with this requirement. In addition, the Group is
         dipersyaratkan oleh Undang-Undang No. 40                                          also required by the Law No. 40 Year 2007
         tahun 2007 tentang Perseroan Terbatas, untuk                                      regarding Limited Liability Entities, to allocate
         mengalokasikan sampai dengan 20% dari modal                                       and maintain a non-distributable reserve fund
         saham ditempatkan dan disetor penuh ke dalam                                      until the reserve reach at least 20% of the
         dana cadangan yang tidak boleh didistribusikan.                                   issued and fully paid share capital.

                                                                   Disajikan kembali - Catatan 4/
                                                                        As restated - Note 4

                                                                                      1 Januari 2022/
                                                                                      January 1, 2022/
                                         31 Desember 2023/      31 Desember 2022/    31 Desember 2021/
                                         December 31, 2023      December 31, 2022    December 31, 2021

          Jumlah liabilitas                    9.820.482.573        9.092.405.908          9.249.648.391                          Total liabilities
          Dikurangi:                                                                                                                        Less:
          Utang lain-lain - pihak berelasi       (37.546.770)         (13.432.293)           (15.396.022)        Other payables - related parties

          Jumlah liabilitas, neto              9.782.935.803        9.078.973.615          9.234.252.369                      Total liabilities, net


          Net worth:                                                                                                                  Net worth:
          - Modal disetor                        952.500.000          952.500.000            952.500.000                       Paid-up capital -
          - Saldo laba                         3.319.589.415        4.587.470.896          4.224.505.037                   Retained earnings -
          - Utang lain-lain - pihak berelasi      37.546.770           13.432.293             15.396.022       Other payables - related parties -

          Jumlah net worth                     4.309.636.185        5.553.403.189          5.192.401.059                          Total net worth

          Leverage ratio (%)                          227%                  163%                    178%                     Leverage ratio (%)




                                                                      125




                                                                                                                                                                     413
                                                                                                                        PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                Laporan Tahunan 2023 Annual Report
Page 414
                                                                                                     The original consolidated financial statements included herein
                                                                                                                                   are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                               PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                          AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                 Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                             financial statements
                                      Tanggal 31 Desember 2023                                                      As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                  and for year then ended
                                         pada tanggal tersebut                                                 (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                 unless otherwise stated)
                                        kecuali dinyatakan lain)


                      26. MODAL SAHAM (lanjutan)                                                   26. SHARE CAPITAL (continued)
                            d.    Penyisihan saldo laba                                                  d. Appropriation of retained earnings
                                  Berdasarkan Akta Notaris Aulia Taufani, S.H.                                  Based on Notarial Deed No. 29 of Aulia
                                  MH. M.Kn., No. 29 mengenai Rapat Umum                                         Taufani, S.H. MH. M.Kn., regarding Annual
                                  Pemegang Saham Tahunan untuk tahun buku                                       Shareholders General Meeting for the
                                  2022 pada tanggal 8 Mei 2023, para pemegang                                   2022 period on May 8, 2023, the shareholders
                                  saham menyetujui penyisihan saldo laba                                        approved the appropriation of retained
                                  sebesar Rp369.623.796 sebagai dana                                            earnings to general reserve amounting
                                  cadangan umum.                                                                Rp369,623,796.

                                  Berdasarkan Akta Notaris Aulia Taufani, S.H.                                  Based on Notarial Deed No. 31 of Aulia
                                  MH. M.Kn, No. 31 mengenai Rapat Umum                                          Taufani, S.H. MH. M.Kn., regarding Annual
                                  Pemegang Saham Tahunan untuk tahun buku                                       Shareholders General Meeting for the
                                  2021 pada tanggal 23 Mei 2022, para                                           2021 period on May 23, 2022, the shareholders
                                  pemegang saham menyetujui penyisihan saldo                                    approved the appropriation of retained
                                  laba sebesar Rp305.374.175 sebagai dana                                       earnings to general reserve amounting
                                  cadangan umum.                                                                Rp305,374,175.
                                  Berdasarkan Akta Notaris Tintin Surtini, S.H.                                 Based on Notarial Deed No. 55 of Tintin
                                  MH. M.Kn., No. 55 mengenai Rapat Umum                                         Surtini, S.H. MH. M.Kn., regarding Annual
                                  Pemegang Saham Tahunan untuk tahun buku                                       Shareholders General Meeting for the 2020
                                  2020 pada tanggal 28 Mei 2021, para                                           period on May 28, 2021, the shareholders
                                  pemegang saham menyetujui penyisihan saldo                                    approved the appropriation of retained
                                  laba sebesar Rp116.170.988 sebagai dana                                       earnings to general reserve amounting
                                  cadangan umum.                                                                Rp116,170,988.
                                  Berdasarkan Akta Notaris Tintin Surtini, S.H.                                 Based on Notarial Deed No. 55 of Tintin
                                  MH. M.Kn., No. 55 mengenai Rapat Umum                                         Surtini, S.H. MH. M.Kn., regarding Annual
                                  Pemegang Saham Tahunan untuk tahun buku                                       Shareholders General Meeting for the
                                  2021 pada tanggal 28 Mei 2021, para                                           2021 period on May 28, 2021, the shareholders
                                  pemegang saham menyetujui pembagian                                           approved th approved dividend distribution
                                  dividen sebesar Rp16.762.817.                                                 amounting to Rp16,762,817.
                            e.    Kepentingan non-pengendali                                             e.     Non-controlling interest
                                  Kepentingan non-pengendali atas aset,                                         Non-controlling interest in net assets, net
                                  neto
                                                                                        Disajikan kembali - Catatan 4/
                                                                                             As restated - Note 4
                                                                                                           1 Januari 2022/
                                                                                                           January 1, 2022/
                                                                31 Desember 2023/   31 Desember 2022/     31 Desember 2021/
                                                                December 31, 2023   December 31, 2022     December 31, 2021

                                   PT Citra Borneo Utama Tbk.         196.579.004                    -                     -            PT Citra Borneo Utama Tbk.
                                   PT Kalimantan Sawit Abadi           29.602.777           25.327.085            20.272.994             PT Kalimantan Sawit Abadi
                                   PT Mitra Mendawai Sejati            13.172.969           12.904.643            12.244.126              PT Mitra Mendawai Sejati

                                   Jumlah                             239.354.750           38.231.728            32.517.120                                 Total


                                  Kepentingan non-pengendali                 atas laba                   Non-controlling interest          in    comprehensive
                                  komprehensif tahun berjalan                                            Income for the year
                                                                                 Untuk tahun yang berakhir
                                                                                pada Tanggal 31 Desember/
                                                                             For the years ended December 31,
                                                                      2023                2022                    2021
                                   PT Kalimantan Sawit abadi            4.275.690            5.054.091             7.748.419             PT Kalimantan Sawit Abadi
                                   PT Mitra Mendawai Sejati             1.308.828            3.661.136             3.654.379              PT Mitra Mendawai Sejati
                                   Jumlah                               5.584.518            8.715.227            11.402.798                                 Total




                                                                                           126




414 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 415
                                                                              The original consolidated financial statements included herein
                                                                                                            are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                                   PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                                              AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                                     Notes to the CONSOLIDATED
                KONSOLIDASIAN                                                                 financial statements
          Tanggal 31 Desember 2023                                                          As of December 31, 2023
         dan untuk tahun yang berakhir                                                      and for year then ended
             pada tanggal tersebut                                                     (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                                     unless otherwise stated)
            kecuali dinyatakan lain)


27. TAMBAHAN MODAL DISETOR                                                  27. ADDITIONAL PAID-IN CAPITAL
                                                              Disajikan kembali - Catatan 4/
                                                                  As restated - Note 4

                                                                                     1 Januari 2022/
                                                                                     January 1, 2022/
                                     31 Desember 2023/       31 Desember 2022/      31 Desember 2021/
                                     December 31, 2023       December 31, 2022      December 31, 2021

      Kelebihan penerimaan diatas nilai                                                                             Excess proceeds from issuance
        nominal saham                        855.000.000           855.000.000                855.000.000              of share capital par value
        Biaya emisi saham                    (36.439.885)          (36.439.885)               (36.439.885)                 Share issuance costs

                                             818.560.115           818.560.115                818.560.115
                                                                                                                     Difference in value of business
      Selisih nilai kombinasi bisnis                                                                                   combination between entities
        entitas sepengendali dari akuisisi                                                                                 under common control
        entitas anak:                                                                                                          of the subsidiaries:
        - PT Mitra Mendawai Sejati             12.169.385            12.169.385             12.169.385                PT Mitra Mendawai Sejati -
        - PT Kalimantan Sawit Abadi             5.214.187             5.214.187              5.214.187               PT Kalimantan Sawit Abadi -
        - PT Ahmad Saleh Perkasa                 (589.393)             (589.393)              (589.393)               PT Ahmad Saleh Perkasa -
        - PT Sawit Mandiri Lestari               (613.124)             (613.124)              (613.124)                 PT Sawit Mandiri Lestari -
        - PT Tanjung Sawit Abadi             (101.815.579)         (101.815.579)          (101.815.579)                 PT Tanjung Sawit Abadi -
        - PT Sawit Multi Utama               (192.006.420)         (192.006.420)          (192.006.420)                    PT Sawit Multi Utama -
        - PT Citra Borneo Utama Tbk.       (3.392.969.514)                    -                       -             PT Citra Borneo Utama Tbk. -

                                           (3.670.610.458)         (277.640.944)          (277.640.944)

                                           (2.852.050.343)         540.919.171                540.919.171



   Biaya-biaya yang terkait dengan penerbitan saham                                The costs related to the issuance of the new shares
   baru sehubungan dengan Penawaran Umum                                           in respect to the Initial Public Offering comprised of
   Saham Perdana terdiri dari imbalan jasa                                         professional fees paid to underwriters, accountants,
   profesional yang dibayarkan kepada penjamin                                     legal adviser, financial advisers, appraiser and the
   emisi, akuntan, penasihat hukum, penasihat                                      share register and costs directly related to Initial
   keuangan, penilai dan Biro Administrasi Efek serta                              Public Offering process.
   biaya-biaya yang berkaitan langsung dengan
   proses Penawaran Umum Saham Perdana.


28. SELISIH TRANSAKSI DENGAN PIHAK NON-                                    28. DIFFERENCE IN TRANSACTIONS WITH NON-
    PENGENDALI                                                                 CONTROLLING PARTIES
   Selisih transaksi dengan pihak non-pengendali                                   Difference in transactions with non-controlling party
   merupakan selisih atas peningkatan persentase                                   represents difference on increase in the Company’s
   kepemilikan saham Perseroan di PT Kalimantan                                    percentage ownership at PT Kalimantan Sawit
   Sawit Abadi dan PT Mitra Mendawai Sejati.                                       Abadi and PT Mitra Mendawai Sejati.
                                                                                               Selisih transaksi
                                       Penyesuaian                                              dengan pihak
                                        kepentingan                                             non-pengendali/
                                       non-pengendali/ Imbalan yang          Setoran               Difference
                                       Adjustment of     dialihkan/          modal/             transactions with
                                      non-controlling Consideration          Capital            non-controlling
                                          interest      transferred        contribution             parties

   31 Desember 2021                       632.986.103        28.962.500     514.910.000            89.113.603                December 31, 2021

   PT Mitra Mendawai Sejati                           -                -                  -                  -           PT Mitra Mendawai Sejati
   PT Kalimantan Sawit Abadi                          -                -                  -                  -          PT Kalimantan Sawit Abadi

   31 Desember 2022                       632.986.103        28.962.500     514.910.000            89.113.603                December 31, 2022

   PT Mitra Mendawai Sejati                           -                -                  -                  -           PT Mitra Mendawai Sejati
   PT Kalimantan Sawit Abadi                          -                -                  -                  -          PT Kalimantan Sawit Abadi

   31 Desember 2023                       632.986.103        28.962.500     514.910.000            89.113.603                December 31, 2023




                                                                   127




                                                                                                                                                                       415
                                                                                                                           PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                  Laporan Tahunan 2023 Annual Report
Page 416
                                                                                                     The original consolidated financial statements included herein
                                                                                                                                   are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                               PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                          AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                 Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                             financial statements
                                    Tanggal 31 Desember 2023                                                      As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                  and for year then ended
                                       pada tanggal tersebut                                                 (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                 unless otherwise stated)
                                      kecuali dinyatakan lain)


                      29. PENDAPATAN               DARI     KONTRAK            DENGAN              29. REVENUE   FROM                    CONTRACTS               WITH
                          PELANGGAN                                                                    CUSTOMERS

                            Penjualan neto berdasarkan jenis produk adalah                               Net sales by products were as follows:
                            sebagai berikut:
                                                                              Untuk tahun yang berakhir
                                                                             pada Tanggal 31 Desember/
                                                                          For the years ended December 31,

                                                                                                          2022
                                                                                                  (Disajikan kembali -
                                                                                                      Catatan 4)/
                                                                                                     (As restated -
                                                                                  2023                Note 4)

                             Pihak berelasi                                                                                                        Related parties
                             Palm Olein                                        7.296.890.990        5.886.000.677                                        Palm Olein
                             Palm Stearin                                      1.702.665.075        1.203.917.998                                      Palm Stearin
                             Asam lemak distilat                                 346.265.664          387.885.086                           Palm fatty acid distillate
                             Refine, Bleched and deodorized                                                                        Refine, Bleched and deodorized
                                   Palm oil (RBDPO)                             293.213.093         1.247.897.906                              Palm oil (RBDPO)
                             Minyak Inti Sawit                                  261.797.733           500.782.033                             Crude palm oil kernel
                             Tandan buah segar                                  103.152.127           228.084.300                               Fresh fruit bunches
                             Inti sawit                                           3.750.119                     -                                       Palm kernel
                             Minyak kelapa sawit                                          -           174.705.970                                    Crude palm oil

                             Saldo dilanjutkan                            10.007.734.801            9.629.273.970                           Balance carried forward


                             Pihak ketiga                                                                                                            Third parties
                             Minyak kelapa sawit                                330.690.385         1.149.747.380                                   Crude palm oil
                             Minyak inti sawit                                  290.110.233           357.771.449                             Crude palm kernel oil
                             PKE                                                 48.682.655            57.605.626                                             PKE
                             Inti sawit                                          11.158.260             5.117.500                                     Palm kernel
                             Kemasan                                             15.035.511            40.703.091                                       Pillowpack

                             Jumlah                                       10.703.411.845           11.240.219.016                                               Total


                            Pada tahun yang berakhir 31 Desember 2023 dan                                During year ended December 31, 2023 and 2022,
                            2022, penjualan Kelompok Usaha kepada                                        the Group’s sales to customers that exceeds 10% of
                            pelanggan yang melebihi 10% dari jumlah penjualan                            total sales were as follows:
                            adalah sebagai berikut:
                                                                         Jumlah/                  Persentase dari jumlah penjualan/
                                                                          Total                      Percentage of total sales

                                                            31 Desember 2023/ 31 Desember 2022/ 31 Desember 2023/ 31 Desember 2022/
                                                            December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022

                           Pihak berelasi                                                                                                                Related party
                           Borneo Agri-Resources                                                                                              Borneo Agri-Resources
                               International Pte. Ltd.        4.408.072.992       3.266.507.337             41%              29%               International Pte. Ltd.
                           Pihak ketiga                                                                                                                     Third party
                           Grand Oils & Foods (Singapore)                                                                              Grand Oils & Foods (Singapore)
                               Pte. Ltd.                                   -      2.101.458.691              0%              17%                             Pte. Ltd.




                                                                                          128




416 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 417
                                                                       The original consolidated financial statements included herein
                                                                                                     are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                          PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                                     AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                            Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                        financial statements
           Tanggal 31 Desember 2023                                                 As of December 31, 2023
          dan untuk tahun yang berakhir                                             and for year then ended
              pada tanggal tersebut                                            (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                            unless otherwise stated)
             kecuali dinyatakan lain)


30. BEBAN POKOK PENJUALAN                                             30. COST OF SALES
                                                      Untuk tahun yang berakhir
                                                     pada Tanggal 31 Desember/
                                                  For the years ended December 31,

                                                                            2022
                                                                    (Disajikan kembali -
                                                                        Catatan 4)/
                                                                       (As restated -
                                                      2023                 Note 4)

    Pembelian bahan baku                           4.747.709.975       3.680.521.868                   Purchases of raw materials
    Pemupukan dan perawatan                        1.177.278.358       1.273.333.591                    Fertilizer and maintenance
    Biaya tenaga kerja                               690.216.649         674.439.093                                     Labor costs
    Biaya overhead                                   404.602.067         362.521.566                                 Overhead costs
    Biaya pabrikasi                                  296.078.740         291.620.689                                    Milling costs
    Biaya panen                                      186.568.971         184.789.076                                Harvesting costs
    Beban penyusutan aset tetap                                                                        Depreciation of fixed assets
      (Catatan 12b)                                 192.215.540         180.297.478                                   (Note 12b)
    Amortisasi tanaman menghasilkan                                                                      Amortization of mature oil
      (Catatan 12)                                  152.921.938         152.828.912                  palm plantation (Note 12)
    Biaya tranportasi                               145.971.687         151.227.549                              Transportation cost
    Biaya amortisasi aset hak guna                                                               Amortization of right of use assets
      (Catatan 13)                                     1.824.180                     -                                 (Note 13)

    Biaya produksi                                 7.995.388.105       6.951.579.822                             Cost of production
  Ditambah: Minyak kelapa sawit, inti                                                         Add: Crude palm oil, palm kernel and,
       sawit dan minyak inti sawit                                                                         crude palm kernel oil
       di awal tahun                                492.390.379         454.001.635                 at the beginning of the year
  Ditambah: Pembelian Minyak kelapa sawit,                                                         Add: Purchase of Crude palm oil,
       inti sawit dan minyak inti sawit               47.978.539          22.598.719       palm kernel and crude palm kernel oil
         Dikurangi: Minyak kelapa sawit, inti
         Less: Crude palm oil, palm kernel and,
       sawit, dan minyak inti sawit                                                                       crude palm kernel oil
       di akhir tahun                               (631.401.138)       (492.390.379)                     at the end of the year

                                                   7.904.355.885       6.935.789.797


   Jumlah persediaan yang diakui sebagai beban                             The amount of inventory recognized as an expense
   selama tahun berjalan adalah Rp4.934.699.271                            during the current year was Rp4,934,699,271.
   (2022: Rp3.741.509.332)                                                 (2022: Rp3,741,509,332)




                                                              129




                                                                                                                                                         417
                                                                                                              PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                    Laporan Tahunan 2023 Annual Report
Page 418
                                                                                                   The original consolidated financial statements included herein
                                                                                                                                 are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                             PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                        AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                               Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                           financial statements
                                    Tanggal 31 Desember 2023                                                    As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                and for year then ended
                                       pada tanggal tersebut                                               (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                               unless otherwise stated)
                                      kecuali dinyatakan lain)


                      30. BEBAN POKOK PENJUALAN (lanjutan)                                        30. COST OF SALES (continued)

                            Pada tahun yang berakhir 31 Desember 2023 dan                              During the years ended December 31, 2023 and
                            2022, pembelian Kelompok Usaha kepada pemasok                              2022, the Group’s purchase to vendors that exceed
                            yang melebihi 10% dari jumlah penjualan adalah                             10% of total sales were as follows:
                            sebagai berikut:

                                                                        Jumlah/                 Persentase dari jumlah penjualan/
                                                                         Total                     Percentage of total sales
                                                            31 Desember 2023/ 31 Desember 2022/ 31 Desember 2023/ 31 Desember 2022/
                                                            December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022


                             PT Multi Usaha Abadi            1.100.636.336        883.379.801            10,2%              7,9%               PT Multi Usaha Abadi



                      31. BEBAN/PENDAPATAN                                                       31. EXPENSES/INCOME

                            Beban/pendapatan untuk tahun yang berakhir pada                            Expenses/income    for   the    years    ended
                            tanggal 31 Desember 2023 dan 2022 adalah                                   December 31, 2023 and 2022 were as follows:
                            sebagai berikut:

                                                                              Untuk tahun yang berakhir
                                                                             pada Tanggal 31 Desember/
                                                                          For the years ended December 31,

                                                                                                        2022
                                                                                                (Disajikan kembali -
                                                                                                    Catatan 4)/
                                                                                                   (As restated -
                                                                               2023                    Note 4)

                            Beban penjualan                                                                                                     Selling expenses
                            Pajak ekspor dan cukai                           855.367.334          1.053.952.639                                Export tax and levy
                            Klaim kualitas                                        10.865                883.033                                       Quality claim

                                                                             855.378.199          1.054.835.672

                            Beban umum dan administrasi                                                                  General and administrative expenses
                            Gaji, upah, dan kompensasi karyawan              287.381.200             353.889.348                      Salaries, wages, and bonus
                            Sewa                                             120.949.648             102.750.794                                              Rent
                            Imbalan kerja (Catatan 25)                        69.969.869             (72.595.719)                    Employee benefits (Note 25)
                            Pajak bangunan, kendaraan                                                                                                 Property and
                                dan lainnya                                   39.996.056              48.063.710                           vehicle tax and others
                            Pemeliharaan                                      39.951.741              25.573.857                                      Maintenance
                            Penyusutan (Catatan 12b)                          35.518.906              21.495.152                          Depreciation (Note 12b)
                            Jasa profesional                                  31.210.290              89.653.782                                 Professional fees
                            Tanggung jawab sosial Perseroan                   28.667.124              31.625.199                   Corporate social responsibility
                            Asuransi dan perizinan                            22.583.288              25.135.375                            Insurance and permits
                            Perjalanan dinas                                  20.697.248              17.071.618                                    Business travel
                            Jasa Manajemen                                    19.200.000              19.200.000                              Management service
                            Kantor                                            18.625.171              11.361.863                                             Office
                            Keamanan                                          16.087.061              14.343.054                                          Security
                            Depresiasi aset hak guna                                                                           Depreciation of right of use assets
                                (Catatan 13)                                  16.003.383               2.656.818                                        (Note 13)
                            Pelatihan dan rekrutmen                           14.745.015              11.856.023                          Training and recruitment
                            Sumbangan dan perayaan                            12.770.151              19.023.391                       Donations and ceremonies
                            Telepon, air, dan listrik                         12.849.822               8.699.362                 Telephone, water, and electricity
                            Amortisasi aset tak berwujud (Catatan 14)          3.445.842               3.748.735       Amortization of intangible assets (Note 14)
                            Denda Pajak                                        3.385.425              16.018.001                                       Tax Penalty
                            Lain-lain (jumlah masing-masing                                                                                    Others (individually
                                kurang dari Rp2.000.000)                      22.036.094              18.412.187                         each below Rp2,000,000)

                                                                             836.073.334             767.982.550




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418 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 419
                                                                 The original consolidated financial statements included herein
                                                                                               are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                  financial statements
           Tanggal 31 Desember 2023                                           As of December 31, 2023
          dan untuk tahun yang berakhir                                       and for year then ended
              pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
             kecuali dinyatakan lain)


31. BEBAN/PENDAPATAN (lanjutan)                                 31. EXPENSES/INCOME (continued)
   Beban/pendapatan untuk tahun yang berakhir pada                   Expenses/income   for  the  years   ended
   tanggal 31 Desember 2023 dan 2022 adalah                          December 31, 2023 and 2022 were as follows:
   sebagai berikut: (lanjutan)                                       (continued)
                                                Untuk tahun yang berakhir
                                               pada Tanggal 31 Desember/
                                            For the years ended December 31,

                                                                      2022
                                                              (Disajikan kembali -
                                                                  Catatan 4)/
                                                                 (As restated -
                                                2023                 Note 4)
   Pendapatan lain-lain, neto                                                                              Other income, net

   Penjualan cangkang, fiber, dan bungkil       59.272.897         48.931.402        Sales of nutshell, fibre, and palm oil cake
   Laba/(rugi) selisih kurs, neto               18.922.360       (260.723.600)           Foreign exchange gains/(losses), net
   Keuntungan atas pembayaran kembali                                                                              Gains on the
       obligasi (Catatan 24)                             -        387.431.783                repayments of bonds (Note 24)
   Selisih timbang                               (440.796)         (4.456.642)                                 Weight difference
   Penyisihan atas penurunan nilai                                                          Allowance for declining in value of
       persediaan (Catatan 8)                  (68.571.093)         (6.184.783)                           inventories (Note 8)
   Penyisihan atas penurunan nilai                                                          Allowance for declining in value of
       piutang plasma (Catatan 16)             (37.274.799)                 -                  plasma receivables (Note 16)
   Pendapatan lainnya, neto                     73.302.181        115.459.143                                 Other income, net

                                               45.210.750         280.457.303



32. PENDAPATAN/BEBAN KEUANGAN                                   32. FINANCE INCOME/COSTS

   Pendapatan/beban keuangan untuk tahun yang                        Finance income/costs for the years ended
   berakhir pada tanggal 31 Desember 2023 dan 2022                   December 31, 2023 and 2022 were as follows:
   adalah sebagai berikut:
                                                Untuk tahun yang berakhir
                                               pada tanggal 31 Desember/
                                            For the years ended December 31,
                                                                      2022
                                                              (Disajikan kembali -
                                                                  Catatan 4)/
                                                                 (As restated -
                                                2023                 Note 4)

   Pendapatan keuangan                                                                                       Finance income
   Amortisasi nilai wajar atas                                                                  Amortization from fair value of
      utang lain-lain (Catatan 18)              52.514.588                   -                   Other payables (Note 18)
   Pendapatan bunga bank                        35.408.909          17.534.407                     Interest income from bank

                                                87.923.497          17.534.407

   Beban keuangan                                                                                               Finance costs
   Bunga pinjaman bank                        482.541.906         383.224.386                                Bank loan interest
   Bunga obligasi                             115.645.571         206.988.664                                     Bond interest
   Biaya amortisasi nilai wajar                                                                  Amortization cost of fair value
      utang lain-lain (Catatan 18)              38.171.606                   -                    other payables (Note 18)
   Biaya provisi obligasi                       16.272.894          40.584.939                           Provision fee for bond
   Biaya provisi bank                           16.184.892           6.722.763                           Provision fee for bank
   Bunga sewa pembiayaan                         5.911.041           1.154.275                           Finance lease interest
   Biaya administrasi bank                       4.003.728           2.677.738                      Administration fee for bank

                                              678.731.638         641.352.765




                                                        131




                                                                                                                                                    419
                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 420
                                                                                                        The original consolidated financial statements included herein
                                                                                                                                      are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                              AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                     Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                                 financial statements
                                    Tanggal 31 Desember 2023                                                          As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                      and for year then ended
                                       pada tanggal tersebut                                                     (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                     unless otherwise stated)
                                      kecuali dinyatakan lain)


                      33. LABA PER SAHAM                                                               33. EARNINGS PER SHARE
                            Laba per saham dihitung dengan membagi laba                                      Earnings per share is computed by dividing profit
                            tahun berjalan yang dapat diatribusikan kepada                                   for the year attributable to the owners of the parent
                            pemilik entitas induk dengan rata-rata tertimbang                                entity by the weighted average number of shares
                            jumlah saham biasa yang beredar pada tahun                                       outstanding during the year.
                            bersangkutan.
                            Rincian perhitungan laba per saham dasar adalah                                  The details of earnings per share computation are
                            sebagai berikut:                                                                 as follows:
                                                                                 Untuk tahun yang berakhir
                                                                                pada Tanggal 31 Desember/
                                                                             For the years ended December 31,

                                                                                                             2022
                                                                                                     (Disajikan kembali -
                                                                                                         Catatan 4)/
                                                                                                        (As restated -
                                                                                    2023                    Note 4)

                          Laba tahun berjalan yang                                                                                                     Profit for the year
                            dapat diatribusikan kepada                                                                                       attributable to the equity
                            pemilik entitas induk                               512.255.637             1.837.375.468                 holders of the parent company
                          Rata-rata tertimbang jumlah saham biasa                                                                 Weighted average number of ordinary
                            untuk menentukan laba neto per saham                                                                            shares for basic earnings
                            (lembar saham)                                     9.525.000.000            9.525.000.000                  per share (number of shares)
                          Laba tahun berjalan per saham                                                                                        Basic earnings per share
                            dasar (angka penuh)                                            53,78                192,90                     for the year (full amounts)


                      34. SALDO DAN TRANSAKSI DENGAN PIHAK                                             34. RELATED   PARTIES                      BALANCES               AND
                          BERELASI                                                                         TRANSACTIONS

                            Dalam kegiatan usaha normal, Kelompok Usaha                                     In its regular conduct of business, the Group enters
                            mengadakan transaksi penjualan, pembelian, dan                                  into transactions with related parties involving sales,
                            transaksi keuangan lainnya dengan pihak berelasi,                               purchases, and other financial transactions under
                            yang dilakukan dengan syarat dan kondisi yang                                   terms and conditions agreed by those parties.The
                            disepakati oleh para pihak. Saldo dan transaksi                                 significant balances and transactions with related
                            yang signifikan dengan pihak-pihak berelasi adalah                              parties are as follows:
                            sebagai berikut:
                            a. Piutang usaha, lain-lain dan pinjaman kepada                                  a. Trade receivables, other receivables and
                               pihak berelasi                                                                   loan to related parties
                                                                                           Disajikan kembali - Catatan 4/
                                                                                                 As restated - Note 4
                                                                                                              1 Januari 2022/
                                                                                                              January 1, 2022/
                                                                31 Desember 2023/    31 Desember 2022/       31 Desember 2021/
                                                                December 31, 2023    December 31, 2022       December 31, 2021
                                Piutang usaha - lancar                                                                                            Trade receivables - current
                                - dalam Rupiah                                                                                                                    - in Rupiah
                                Pihak berelasi lainnya                                                                                                  Other related parties
                                   PT Citra Borneo Indah              328.492.878             261.794.619           110.242.467                     PT Citra Borneo Indah
                                Piutang usaha - lancar                                                                                            Trade receivables - current
                                - dalam Dolar AS                                                                                                                - in US Dollar
                                Pihak berelasi lainnya                                                                                                  Other related parties
                                   Borneo Agri Resources                                                                                           Borneo Agri Resources
                                      International Pte. Ltd.         289.016.813             182.026.846           189.234.470                   International Pte. Ltd.
                                                                      617.509.691             443.821.465           299.476.937
                                Piutang lain-lain - lancar                                                                                        Other receivables - current
                                - dalam Rupiah                                                                                                                     - in Rupiah
                                Entitas yang memiliki pengaruh                                                                        Entity which has significant
                                   signifikan terhadap Kelompok Usaha                                                                              influence to the Group
                                   PT Citra Borneo Indah             188.633.401              205.979.615           172.961.333                    PT Citra Borneo Indah



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420 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 421
                                                                               The original consolidated financial statements included herein
                                                                                                             are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                                 PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                            AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                                   Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                               financial statements
            Tanggal 31 Desember 2023                                                        As of December 31, 2023
           dan untuk tahun yang berakhir                                                    and for year then ended
               pada tanggal tersebut                                                   (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                                   unless otherwise stated)
              kecuali dinyatakan lain)


34. SALDO DAN TRANSAKSI DENGAN PIHAK                                          34. RELATED   PARTIES      BALANCES                             AND
    BERELASI (lanjutan)                                                           TRANSACTIONS (continued)
  a.    Piutang usaha, lain-lain dan                  pinjaman                      a. Trade receivables, other receivables and
        kepada pihak berelasi (lanjutan)                                               loan to related parties (continued)
                                                                 Disajikan kembali - Catatan 4/
                                                                        As restated - Note 4
                                                                                     1 Januari 2022/
                                                                                     January 1, 2022/
                                       31 Desember 2023/       31 Desember 2022/    31 Desember 2021/
                                       December 31, 2023       December 31, 2022    December 31, 2021

         Entitas sepengendali                                                                                      Entities under common control
           PT Surya Borneo Industri           48.325.243              28.792.747           322.307.606              PT Surya Borneo Industri

         Pihak berelasi lainnya                                                                                             Other related parties
            PT Sepalar Yasa Kartika           21.593.587               3.745.744             8.473.480                PT Sepalar Yasa Kartika
            PT Borneo Sawit Gemilang          18.908.348               2.295.972             6.346.590             PT Borneo Sawit Gemilang
            PT Natai Sawit Perkasa             3.817.310               3.513.475               336.217                 PT Natai Sawit Perkasa
            PT BPR Lingga Sejahtera            1.717.151                       -                     -              PT BPR Lingga Sejahtera
            PT Sulung Ranch                      588.960               7.380.992             5.345.165                      PT Sulung Ranch
            PT Pesona Citra Propertindo          330.531                 219.044               284.906            PT Pesona Citra Propertindo
            PT Pelayaran Lingga Marintama          9.121                  30.989             5.699.556         PT Pelayaran Lingga Marintama
            PT Pelayaran Senggora                      -                       -            10.849.169                PT Pelayaran Senggora
            PT Mandiri Indah Lestari                   -                       -             1.960.086                PT Mandiri Indah Lestari
            PT Pelayaran Senggora                      -                       -             1.813.042                PT Pelayaran Senggora
            PT Eryntrhina Nugraha Megah                -                       -               420.832          PT Eryntrhina Nugraha Megah
            PT Intrado Jaya Intiga                     -                       -                   331                  PT Intrado Jaya Intiga
                                             283.923.652             251.958.578           536.798.313
        Uang muka                                                                                                                     Advances
        Pihak berelasi                                                                                                           Related parties
         PT Surya Borneo Industri             68.871.190              15.222.059             1.994.455               PT Surya Borneo Industri
         PT Pesona Citra Propertindo                   -                       -            22.731.840            PT Pesona Citra Propertindo
                                              68.871.190              15.222.059            24.726.295
         Pinjaman kepada                                                                                                   Loan to related parties
            pihak berelasi - lancar                                                                                                    - current
         - dalam Rupiah                                                                                                                - in Rupiah
         Entitas yang memiliki pengaruh
            signifikan terhadap                                                                                        Entity which has significant
            Kelompok Usaha                                                                                              influence to the Group
            PT Citra Borneo Indah            294.626.789                        -                    -                   PT Citra Borneo Indah

         Entitas sepengendali                                                                                      Entities under common control
           PT Surya Borneo Industri          180.996.773             285.451.862                     -                PT Surya Borneo Industri

                                             475.623.562             285.451.862                     -
         Aset tidak lancar lainnya                                                                                      Other non-current assets
         Uang muka sewa gedung kantor                                                                      Advances for rental of office building
         - dalam Rupiah                                                                                                                 - in Rupiah
            PT Pesona Citra Propertindo                    -          40.982.771                     -             PT Pesona Citra Propertindo

         Deposit sewa Gedung (Catatan 17)                                                                       Building rental deposits (Note 17)
           PT Pesona Citra Propertindo         7.577.280               7.577.280             7.577.280           PT Pesona Citra Propertindo
         Uang muka pembelian aset tetap                                                                  Advances for purchasing of fixed assets -
           PT Pesona Citra Propertindo                 -               1.625.000                     -           PT Pesona Citra Propertindo

         Deposito yang dibatasi penggunaannya                                                                              Restricted deposits -
           PT BPR Lingga Sejahtera                     -                        -            2.000.000               PT BPR Lingga Sejahtera
         Pinjaman - tidak-lancar - dalam Rupiah                                                                   Loans - non-current - in Rupiah
         Entitas yang memiliki pengaruh                                                                              Entity which has significant
            signifikan terhadap Kelompok Usaha                                                                                influence to Group
           PT Citra Borneo Indah             219.473.951             160.319.303                     -                    PT Citra Borneo Indah




                                                                     133




                                                                                                                                                                     421
                                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                Laporan Tahunan 2023 Annual Report
Page 422
                                                                                                       The original consolidated financial statements included herein
                                                                                                                                     are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                                  PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                             AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                    Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                                financial statements
                                      Tanggal 31 Desember 2023                                                         As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                     and for year then ended
                                         pada tanggal tersebut                                                    (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                    unless otherwise stated)
                                        kecuali dinyatakan lain)


                      34. SALDO DAN TRANSAKSI DENGAN PIHAK                                            34. RELATED   PARTIES      BALANCES                           AND
                          BERELASI (lanjutan)                                                             TRANSACTIONS (continued)
                            a.    Piutang usaha, lain-lain dan                    pinjaman                  a.    Trade receivables, other receivables and
                                  kepada pihak berelasi (lanjutan)                                                loan to related parties (continued)
                                                                                         Disajikan kembali - Catatan 4/
                                                                                                As restated - Note 4
                                                                                                              1 Januari 2022/
                                                                                                              January 1, 2022/
                                                                31 Desember 2023/      31 Desember 2022/     31 Desember 2021/
                                                                December 31, 2023      December 31, 2022     December 31, 2021


                                   Jumlah piutang usaha, lain-lain,                                                                 Trade receivables, other receivables,
                                     pinjaman, uang muka                                                                                             loan to, advance
                                      dan aset tidak lancar                                                                                     and other non-current
                                     lainnya - pihak berelasi          1.672.979.325       1.206.958.318            870.578.825                assets - related parties
                                   Jumlah aset                        11.810.444.633      11.136.909.800          10.705.331.418                           Total assets

                                   Sebagai persentase
                                     terhadap jumlah aset                    14,16%                10,84%                 8,11%            As percentage to total assets


                                                                                                                  Other receivables - related parties represent
                                  Piutang lain-lain - pihak berelasi merupakan
                                                                                                                  non-interest   bearing      advance,  interest
                                  dana talangan, piutang bunga dan pinjaman
                                                                                                                  receivable and working capital loans provided
                                  modal kerja tanpa bunga yang diberikan oleh
                                  Kelompok Usaha kepada pihak-pihak berelasi.                                     by the Group to its related parties.

                                  Pinjaman Perseroan kepada CBI                                                   The Company’s Loan to CBI

                                  Pada tanggal 15 April 2019, Perseroan, CBI,                                     On April 15, 2019, the Company, CBI, and
                                  dan CBUT melakukan perjanjian surat utang                                       CBUT, entered into a convertible loan
                                  yang dapat dikonversi, dimana pinjaman dan                                      agreement, whereby it allows the Company
                                  piutang Perseroan akan dikonversi dengan                                        loan and receivables which will be converted to
                                  Saham CBUT yang saat ini dimiliki oleh CBI.                                     share ownership of CBUT which is currently
                                                                                                                  owned by CBI.
                                  Perseroan memiliki hak namun tidak                                              The Company has the right but is not obliged to
                                  berkewajiban untuk meminta CBI untuk                                            request CBI to settle the amount owed to the
                                  melakukan pembayaran jumlah terutang                                            Company by exchanging debt securities into
                                  secara penuh kepada Perseroan dengan                                            CBUT shares owned by CBI. This exchange is
                                  menukarkan surat utang menjadi saham CBUT                                       effective after the following effective terms of the
                                  milik CBI. Pertukaran tersebut berlaku efektif                                  agreement:
                                  setelah syarat syarat efektif perjanjian sebagai
                                  berikut:
                                  1.     Seluruh persetujuan dari Rapat umum                                       1. Approval from Shareholders General
                                         pemegang saham dan atau Dewan                                                Meetings and or Commisioners of the
                                         Komisaris dari Perseroan dan CBI.                                            Company and CBI.
                                  2.     Persetujuan dari BNI.                                                     2. Approval from BNI.
                                  3.     Pendapat kewajaran atas transaksi.                                        3. Fairness opinion on the transactions.
                                  4.     Pendapat kewajaran atas indenture.                                        4. Fairness opinion on the indentures.




                                                                                             134




422 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 423
                                                                 The original consolidated financial statements included herein
                                                                                               are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                financial statements
            Tanggal 31 Desember 2023                                         As of December 31, 2023
           dan untuk tahun yang berakhir                                     and for year then ended
               pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
              kecuali dinyatakan lain)


34. SALDO DAN TRANSAKSI DENGAN PIHAK                             34. RELATED  PARTIES      BALANCES                        AND
  BERELASI (lanjutan)                                               TRANSACTIONS (continued)
  a.    Piutang usaha, lain-lain dan         pinjaman               a. Trade receivables, other receivables and
        kepada pihak berelasi (lanjutan)                               loan to related parties (continued)

        Pinjaman Perseroan kepada CBI (lanjutan)                         The Company’s Loan to CBI (continued)
        Berdasarkan Perjanjian Akta Notaris No. 74                        Based on the Notarial Deed No. 74 Notary of
        Notaris Dr. Tintin Surtini, S.H., MH., Mkn. pada                  Dr. Tintin Surtini, S.H., MH., MKn. Dated
        tanggal 29 Desember 2020, Perseroan                               December 29, 2020, the Company acquired
        mengakuisisi 13% saham CBUT, dengan total                         13% share ownership in CBUT with acquisition
        harga akuisisi sebesar Rp600.000.000.                             price of Rp600,000,000. The Company
        Perseroan mengakuisisi saham CBUT melalui                         acquired shares ownership in CBUT through
        mekanisme konversi pinjaman CBI dengan                            conversion     of CBI’s loan to the Company
        saham CBI pada pada CBUT. CBUT bergerak                           become the Company’s share ownership in
        di bidang pengolahan minyak kelapa sawit.                         CBUT. CBUT are engaged in processing of
        Nilai akuisisi saham didasarkan pada nilai wajar                  palm oil. The acquisition value was based on
        yang dihitung dalam Laporan Jasa Penilai                          the fair value as calculated in the Report of
        Publik.                                                           Public Valuer.
        Pinjaman tersebut dikenai bunga sebesar                           The loans are subject to interest at the rate of
        9,25% (2022: 9,25%) dan disesuaikan dengan                        9.25% (2022: 9.25%) per annum and has been
        suku bunga pasar sampai dengan tanggal                            adjusted based on market rate up until the
        efektif.                                                          effective date.
        Berdasarkan Surat Penukaran Utang CBI                             Based on CBI's Debt Exchange Letter to the
        kepada Perseroan tertanggal 15 Maret 2023,                        Company dated March 15, 2023, CBI has
        CBI telah mengkonfirmasi bahwa penyelesaian                       confirmed that the settlement of CBI’s loan and
        pinjaman dan piutang CBI kepada Perseroan                         receivables to the Company will be carried out
        akan dilakukan dengan cara menukarkan                             by exchanging it with CBU shares owned by
        dengan saham CBU yang dimiliki oleh CBI dan                       CBI and will be carried out in 2023.
        akan dilakukan di tahun 2023.

        Dibawah ini adalah beberapa syarat penukaran                     Below are the requirement for the share
        saham:                                                           exchange:
        a.   Keputusan Rapat Umum Pemegang                                a.   The decision of the Shareholders General
             Saham Perseroan menyetujui antara lain i)                         Meetings of the Company agreed to i) the
             pengalihan    saham      penukaran    ii)                         shares diversion ii) waive the right of issuer
             pengesampingan hak penerbit dan hak                               and the right of other shareholders to be
             para pemegang saham Perseroan lainnya                             offered in advance
             untuk ditawarkan lebih dahulu
        b.   Keputusan    Dewan    Komisaris  dan                         b.   Decision from board of commisioners and
             Keputusan Rapat Umum Pemegang                                     Resolution of Shareholders General
             Saham     Penerbit  yang   menyetujui                             Meetings which agreed to diversify the
             pengalihan saham penukaran                                        convertible shares
        c.   Penilaian Saham Penukaran                                    c.   Valuation of convertible shares
        d.   Pendapat kewajaran                                           d.   Fairness opinion
        e.   Mendapatkan semua persetujuan yang                           e.   Obtain all approval and licensing
             diperlukan dan perijinan
        Pada tanggal 19 Desember 2023, Perseroan                         On December 19, 2023, the Company has
        telah melakukan konversi atas pinjaman                           converted its loan to CBI amounted to
        sebesar Rp3.451.309.583 menjadi kepemilikan                      Rp3,451,309,583 become share ownership in
        saham pada CBUT (Catatan 4).                                     CBUT (Note 4).




                                                           135




                                                                                                                                                  423
                                                                                                       PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                             Laporan Tahunan 2023 Annual Report
Page 424
                                                                                          The original consolidated financial statements included herein
                                                                                                                        are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                 financial statements
                                      Tanggal 31 Desember 2023                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                      and for year then ended
                                         pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      34. SALDO DAN TRANSAKSI DENGAN PIHAK                                34. RELATED  PARTIES      BALANCES                      AND
                            BERELASI (lanjutan)                                              TRANSACTIONS (continued)
                            a.    Piutang usaha, lain-lain dan pinjaman                      a.    Trade receivables, other receivables and
                                  kepada pihak berelasi (lanjutan)                                 loan to related parties (continued)

                                  Pinjaman Perseroan kepada CBI (lanjutan)                         The Company’s Loan to CBI (continued)
                                  Pada tanggal 31 Desember 2023, 2022, dan                         As of December 31, 2023, 2022, dan 2021, the
                                  2021, saldo pinjaman Perseroan adalah                            outstanding balance of the Company’s loan
                                  sebesar Rp219.473.951, Rp160.319.303, dan                        was     amounting     to     Rp219,473,951,
                                  RpNihil.                                                         Rp160,319,303, and RpNil, respectively.

                                  Pinjaman CBUT kepada CBI                                         CBUT’s Loan to CBI

                                  Berdasarkan Perjanjian Pinjaman tanggal 2                        Based on a Loan Agreement dated January 2,
                                  Januari 2023 yang kemudian diubah dengan                         2023, which was then amended by Loan
                                  Perubahan Perjanjian Pinjaman tanggal 23                         Agreement Amendment dated December 23,
                                  Desember 2023, CBUT memberikan pinjaman                          2023, CBUT provided loan to PT Citra Borneo
                                  kepada PT Citra Borneo Indah, pemegang                           Indah, a shareholder of the Company, with a
                                  saham Perseroan, dengan batas maksimum                           maximum loan limit of Rp400,000,000 for
                                  pinjaman sebesar Rp400.000.000 untuk tujuan                      operational activities purposes. This loan bears
                                  kegiatan operasional. Pinjaman     tersebut                      interest at the rate 9.5% per annum with term of
                                  dikenakan bunga sebesar 9,5% per tahun                           credit of 1 (one) year and can be extended.
                                  dengan jangka waktu selama 1 (satu) tahun
                                  dan dapat diperpanjang.

                                  Pinjaman CBUT kepada SBI                                         CBUT’s Loan to SBI

                                  Berdasarkan Perjanjian Pinjaman tanggal 3                        Based on a Loan Agreement dated October 3,
                                  Oktober 2022 yang kemudian diubah dengan                         2022 which was then amended by Loan
                                  Perubahan Perjanjian Pinjaman tanggal 22                         Agreement Amendment dated September 22,
                                  September 2023, CBUT memberikan pinjaman                         2023, CBUT provided loan to SBI, a related
                                  kepada SBI, pihak berelasi, dengan batas                         party, with a maximum loan limit of
                                  maksimum pinjaman sebesar Rp200.000.000                          Rp200,000,000 for operational activities
                                  untuk tujuan kegiatan operasional. Pinjaman                      purposes. This loan bears interest rate at 9.5%
                                  tersebut dikenakan bunga sebesar 9,5% per                        per annum with term of credit of 1 (one) year
                                  tahun dengan jangka waktu selama 1 (satu)                        and can be extended.
                                  tahun dan dapat diperpanjang.

                                  Pada tanggal 31 Desember 2023, 2022, dan                         As of December 31, 2023, 2022, and 2021, the
                                  2021 Manajemen Kelompok Usaha meyakini                           Group’s management believes that the entire
                                  bahwa pinjaman kepada CBI dan SBI dapat                          loan to CBI and SBI are collectible and there is
                                  tertagih seluruhnya dan tidak ada penurunan                      no impairment in value on that loan.
                                  nilai atas saldo pinjaman tersebut.

                                  Saldo piutang lain-lain dan pinjaman pada akhir                   Outstanding balances of other receivables and
                                  tahun tidak memiliki jaminan.                                     loan at the end of year are unsecured.

                                  Untuk tahun yang berakhir pada tanggal                            For the years ended December 31, 2023,
                                  31 Desember 2023, 2022, dan 2021, tidak                           2022, and 2021, there is no impairment of other
                                  terdapat penurunan nilai piutang lain-lain dan                    receivables and loan - related parties. This
                                  pinjaman - pihak berelasi. Penilaian ini                          assessment is undertaken at the end of the
                                  dilakukan setiap akhir periode pelaporan                          reporting periods through examining the
                                  dengan memeriksa posisi keuangan pihak                            financial position of these related parties and
                                  berelasi dan pasar dimana pihak berelasi                          the market in which the related parties operate.
                                  beroperasi.




                                                                                    136




424 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 425
                                                               The original consolidated financial statements included herein
                                                                                             are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                financial statements
            Tanggal 31 Desember 2023                                         As of December 31, 2023
           dan untuk tahun yang berakhir                                     and for year then ended
               pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
              kecuali dinyatakan lain)


34. SALDO DAN TRANSAKSI             DENGAN      PIHAK          34. RELATED   PARTIES      BALANCES                       AND
    BERELASI (lanjutan)                                            TRANSACTIONS (continued)

  a.    Piutang usaha, lain-lain dan          pinjaman            a.    Trade receivables, other receivables and
        kepada pihak berelasi (lanjutan)                                loan to related parties (continued)

        Uang muka sewa gedung kantor                                    Advances for rental of office building

        Pada tanggal 30 September 2021, Kelompok                         On September 30, 2021, the Group has signed
        usaha menandatangani perjanjian sewa                             an agreement on rental of office building for
        menyewa gedung kantor untuk keperluan                            operational purposes with PT Pesona Citra
        operasional kantor dengan PT Pesona Citra                        Propertindo. In 2022, the Group should paid
        Propertindo. Pada tahun 2022, Kelompok                           the advances of rental of office building
        usaha diminta untuk membayar uang muka                           amounting Rp52,877,287. The Group started
        sewa     gedung     sebesar    Rp52.877.287.                     to use the office building on February 2023 and
        Kelompok usaha mulai menggunakan gedung                          the rental period will ended on February 2026.
        kantor tersebut pada Februari 2023 dan masa
        sewa akan berakhir pada Februari 2026.

        Biaya penelitian dan pemeliharaan kepada CBI                       Research and maintenance expense with
                                                                           CBI

        Pada      tahun    2022,     Kelompok        usaha                 In 2022, the Group has signed an agreement
        menandatangani         perjanjian       kerjasama                  on research and maintenance services at
        penggunaan jasa analis di Laboratorium Sulung                      Sulung Research Station with PT Citra
        Research Station dengan PT Citra Borneo Indah.                     Borneo Indah. The services period will
        Perjanjian tersebut berakhir pada tanggal                          ended on December 31, 2022. For the
        31 Desember 2022. Atas jasa tersebut, Kelompok                     services, the Group should paid the fees
        usaha diwajibkan untuk membayar sebesar                            amounted to Rp124,606,283 per annum. On
        Rp124.606.283 per tahun. Pada tanggal                              January 24, 2023, the agreement has been
        24 Januari 2023, perjanjian tersebut telah                         extended until December 31, 2023. On
        diperpanjang      sampai      dengan       tanggal                 January 2023, the Group submitted a letter
        31 Desember 2023. Pada bulan Januari 2023,                         requesting    the   suspension     of   the
        Kelompok       usaha     menyampaikan         surat                implementation of research services so that
        permohonan penangguhan pelaksanaan jasa                            until December 31, 2023 there were no
        penelitian sehingga sampai dengan 31 Desember                      research services provided by CBI.
        2023 tidak terdapat jasa penelitian yang diberikan
        oleh CBI.

        Jasa manajemen dengan CBI                                          Management fee with CBI

        Berdasarkan      Perjanjian   Kerjasama   Jasa                     Based on a Cooperation Agreement of
        Manajemen tanggal 2 Januari 2023 dengan                            Management Services dated January 2,
        PT Citra      Borneo Indah, pemegang saham                         2023, entered into with PT Citra Borneo
        Perusahaan, Perusahaan menunjuk PT Citra                           Indah, a shareholder of the Company, the
        Borneo Indah, pemegang saham Perusahaan,                           Company assigned PT Citra Borneo Indah, a
        untuk melaksanakan jasa manajemen berupa jasa                      shareholder of the Company, to provide
        akuntansi dan pajak, penganggaran, informasi                       management services in the form of
        teknologi, internal audit, sumber daya manusia,                    accounting and tax, budgeting, information
        perizinan, hukum, keberlangsungan usaha, dan                       and technology, internal audit, human
        riset dan pengembangan. Perusahaan diwajibkan                      resource, permit, legal, sustainability and
        untukmembayar       jasa     manajemen sebesar                     research and development services. The
        Rp19.200 per tahun. Perjanjian tersebut berlaku                    Company is required to pay management
        selama 1 (satu) tahun sejak ditandatanganinya                      fee amounting to Rp19,200 per year. The
        perjanjian.                                                        term of agreement is valid for 1 (one) year
                                                                           since the date of this agreement signed.




                                                         137




                                                                                                                                                425
                                                                                                     PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                           Laporan Tahunan 2023 Annual Report
Page 426
                                                                                                       The original consolidated financial statements included herein
                                                                                                                                     are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                               PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                          AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                 Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                             financial statements
                                      Tanggal 31 Desember 2023                                                      As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                  and for year then ended
                                         pada tanggal tersebut                                                 (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                 unless otherwise stated)
                                        kecuali dinyatakan lain)


                      34. SALDO DAN TRANSAKSI                        DENGAN          PIHAK            34. RELATED   PARTIES      BALANCES                            AND
                          BERELASI (lanjutan)                                                             TRANSACTIONS (continued)

                            b.    Utang - pihak berelasi                                                    b.   Accounts payable - related parties

                                                                                        Disajikan kembali - Catatan 4/
                                                                                               As restated - Note 4

                                                                                                             1 Januari 2022/
                                                                                                             January 1, 2022/
                                                                31 Desember 2023/     31 Desember 2022/     31 Desember 2021/
                                                                December 31, 2023     December 31, 2022     December 31, 2021

                                   Utang usaha - jangka pendek                                                                                 Trade payables - current
                                   Entitas yang memiliki pengaruh                                                                          Entity which has significant
                                      signifikan terhadap Kelompok Usaha                                                                     influence to the Group
                                      PT Citra Borneo Indah           23.300.912              24.979.678           29.057.827                PT Citra Borneo Indah
                                   Pihak berelasi lainnya                                                                                         Other related parties
                                      PT Sepalar Yasa Kartika         24.723.290              18.456.725           22.102.545              PT Sepalar Yasa Kartika
                                      PT Borneo Sawit Gemilang        15.694.200              13.355.209           11.274.960           PT Borneo Sawit Gemilang
                                      PT Pelayaran Lingga Marintama    9.831.498              10.932.613           12.008.050       PT Pelayaran Lingga Marintama
                                      PT Natai Sawit Perkasa           8.943.828               9.304.623            7.389.278               PT Natai Sawit Perkasa
                                      PT Surya Borneo Industri         1.977.635               6.806.978           32.169.455             PT Surya Borneo Industri
                                      PT Pelayaran Senggora               15.510                  15.510              160.089              PT Pelayaran Senggora

                                   Jumlah utang usaha
                                     - pihak berelasi                  84.486.873             83.851.336          114.162.204     Total trade payables - related parties

                                   Utang lain-lain - jangka pendek                                                                             Other payables - current
                                   Entitas yang memiliki pengaruh                                                                           Entity which has significant
                                     signifikan terhadap Kelompok Usaha                                                                       influence to the Group
                                     PT Citra Borneo Indah            3.844.569                    24.659                    -               PT Citra Borneo Indah
                                   Entitas sepengendali                                                                                  Entities under common control
                                     PT Pesona Citra Propertindo       15.804.910              4.217.839            5.226.385          PT Pesona Citra Propertindo
                                     PT Sulung Ranch                    7.953.861              2.462.201            2.166.211                     PT Sulung Ranch
                                     PT Surya Borneo Industri           5.240.089              2.761.040            2.701.439             PT Surya Borneo Industri
                                     PT Pelayaran Senggora              3.316.025              2.822.254              599.753              PT Pelayaran Senggora
                                     PT Pelayaran Lingga Marintama        843.814              1.073.234            1.514.855       PT Pelayaran Lingga Marintama
                                     PT Natai Sawit Perkasa               248.935                  4.365               81.435               PT Natai Sawit Perkasa
                                     PT Borneo Sawit Gemilang             133.572                      -                9.364           PT Borneo Sawit Gemilang
                                     PT Sepalar Yasa Kartika               94.294                      -               52.087              PT Sepalar Yasa Kartika
                                     PT Putra Borneo Agro Lestari          64.546                 64.546               64.546         PT Putra Borneo Agro Lestari
                                     PT Hanau Perkasa Beton                 2.155                  2.155                    -             PT Hanau Perkasa Beton
                                     PT Intrado Jaya Intiga                     -                      -            1.881.882                PT Intrado Jaya Intiga
                                     PT Mendawai Putra                          -                      -              505.013                  PT Mendawai Putra
                                     PT Amprah Mitra Jaya                       -                      -              256.583                PT Amprah Mitra Jaya
                                     PT Erythrina Nugraha Megah                 -                      -              180.584         PT Erythrina Nugraha Megah
                                     PT Central Kalimantan Abadi                -                      -              155.885          PT Central Kalimantan Abadi

                                   Jumlah utang lain-lain
                                     - pihak berelasi                  37.546.770             13.432.293           15.396.022    Total other payables - related parties

                                   Pendapatana diterima dimuka                                                                                    Unearned revenue
                                     PT Bank Perkreditan Rakyat                                                                         PT Bank Perkreditan Rakyat
                                       Lingga Sejahtera                 2.000.000                       -                    -                Lingga Sejahtera


                                   Jumlah                             124.033.643             97.283.629          129.558.226                                       Total

                                   Jumlah liabilitas                 9.820.482.573        9.092.405.909          9.249.648.391                          Total liabilities

                                   Sebagai persentase terhadap
                                     jumlah liabilitas                      1,26%                  1,06%                 1,40%          As percentage to total liabilities




                                                                                             138




426 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 427
                                                                      The original consolidated financial statements included herein
                                                                                                    are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                         PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                                    AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                           Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                       financial statements
             Tanggal 31 Desember 2023                                                As of December 31, 2023
            dan untuk tahun yang berakhir                                            and for year then ended
                pada tanggal tersebut                                           (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                           unless otherwise stated)
               kecuali dinyatakan lain)


34. SALDO DAN TRANSAKSI DENGAN PIHAK                                34. RELATED   PARTIES      BALANCES                           AND
    BERELASI (lanjutan)                                                 TRANSACTIONS (continued)

   b.    Utang - pihak berelasi (lanjutan)                                b. Accounts payable              -     related      parties
                                                                             (continued)

         Utang lain-lain - pihak berelasi terutama                              Other payables - related parties mainly
         merupakan dana talangan dan utang atas jasa                            represent non-interest bearing advances and
         yang diberikan tanpa bunga yang diterima oleh                          payable from services rendered obtained by the
         Kelompok Usaha dari pihak-pihak berelasi.                              Group from these related parties.

         Saldo utang lain-lain - pihak berelasi pada akhir                      Outstanding balances of other payables -
         tahun tidak memiliki jaminan.                                          related parties at year-end are unsecured.

  c.     Penjualan, pendapatan keuangan dan beban                         c.    Sales, finance income and                  operating
         usaha dari pihak berelasi                                              expense from related parties
                                                   Untuk tahun yang berakhir
                                                  pada Tanggal 31 Desember/
                                               For the years ended December 31,

                                                                           2022
                                                                   (Disajikan kembali -
                                                                       Catatan 4)/
                                                                      (As restated -
                                                   2023                Note 4)

        Pendapatan dari kontrak                                                                          Revenue from contract
          dengan pelanggan                                                                                   with customers

        Entitas yang memiliki pengaruh                                                                 Entity which has significant
          signifikan terhadap Kelompok Usaha                                                             influence to the Group
        PT Citra Borneo Indah                             4.013        228.084.300                          PT Citra Borneo Indah


        Pihak berelasi lainnya                                                                              Other related parties
        Borneo Agri -                                                                                              Borneo Agri -
           Resources International Pte. Ltd.    4.408.072.992        3.317.828.119            Recources International Pte. Ltd.

                                               4.408.077.005         3.545.912.419

        Jumlah pendapatan dari                                                                     Total revenue from contracts
          kontrak dengan pelanggan                                                                            with customers
          (Catatan 29)                         10.703.411.845       11.240.219.016                                  (Note 29)

        Sebagai persentase terhadap                                                                           As percentage to
         jumlah pendapatan dari kontrak                                                           total revenue from contract
         dengan pelanggan                             41,18%                   31,55%                         with customers


        Beban penjualan                                                                                           Selling expense

        Beban transportasi                                                                             Transportation expense
        Pihak berelasi lainnya                                                                              Other related parties
        PT Pelayaran Lingga Marintama              93.083.262           79.422.568               PT Pelayaran Lingga Marintama
        PT Pelayaran Senggora                       1.507.532           19.059.283                      PT Pelayaran Senggora

                                                   94.590.794           98.481.851

        Jumlah beban penjualan
          (Catatan 31)                           855.378.199         1.054.835.672               Total selling expense (Note 31)

        Sebagai persentase terhadap                                                                             As percentage to
         total beban penjualan                        11,06%                   9,34%                    total selling expense




                                                             139




                                                                                                                                                         427
                                                                                                               PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                    Laporan Tahunan 2023 Annual Report
Page 428
                                                                                             The original consolidated financial statements included herein
                                                                                                                           are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                     financial statements
                                      Tanggal 31 Desember 2023                                              As of December 31, 2023
                                     dan untuk tahun yang berakhir                                          and for year then ended
                                         pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
                                        kecuali dinyatakan lain)


                      34. SALDO DAN TRANSAKSI DENGAN PIHAK                                  34. RELATED   PARTIES      BALANCES                      AND
                          BERELASI (lanjutan)                                                   TRANSACTIONS (continued)

                            c.    Penjualan, pendapatan keuangan dan beban                       c.    Sales, finance income and operating
                                  usaha dari pihak berelasi (lanjutan)                                 expense from related parties (continued)
                                                                            Untuk tahun yang berakhir
                                                                           pada Tanggal 31 Desember/
                                                                        For the years ended December 31,

                                                                                                  2022
                                                                                          (Disajikan kembali -
                                                                                              Catatan 4)/
                                                                                             (As restated -
                                                                            2023              Note 4)

                                 Beban penanganan                                                                                    Handling expense

                                 Pihak berelasi lainnya                                                                            Other related parties
                                 PT Surya Borneo Industri                 143.819.740           93.942.003                     PT Surya Borneo Industri

                                                                          143.819.740           93.942.003

                                 Jumlah beban penjualan (Catatan 31)      855.378.199        1.054.835.672               Total selling expense (Note 31)


                                 Sebagai persentase terhadap                                                                             As percentage to
                                   jumlah beban penjualan                      16,24%                 8,91%                      total selling expense

                                 Biaya penelitian dan pemeliharaan                                                Research and maintenance expense
                                 Entitas yang memiliki pengaruh                                                             Entity which has significant
                                   signifikan terhadap Kelompok Usaha                                                            influence to the Group
                                 PT Citra Borneo Indah                      19.200.000        143.806.283                        PT Citra Borneo Indah

                                 Jumlah beban pokok penjualan
                                   (Catatan 30)                          7.904.355.885       6.935.789.797                  Total cost of sales (Note 30)

                                 Sebagai persentase terhadap                                                                            As percentage to
                                  total beban pokok penjualan                   0,24%                 2,07%                         total cost of sales


                                 Pendapatan sewa                                                                                         Rental income

                                 Pihak berelasi lainnya                                                                           Other related parties
                                 PT Bank Perkreditan Rakyat                                                                 PT Bank Perkreditan Rakyat
                                    Lingga Sejahtera                         3.520.000                     -                      Lingga Sejahtera

                                 Jumlah pendapatan lain-lain
                                   (Catatan 31)                             45.210.750        280.457.303                   Total other income (Note 31)


                                 Sebagai persentase terhadap                                                                             As percentage to
                                   total pendapatan lain-lain, neto             7,79%                 0,00%                    total other income, net




                                                                                    140




428 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 429
                                                                 The original consolidated financial statements included herein
                                                                                               are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                   financial statements
            Tanggal 31 Desember 2023                                            As of December 31, 2023
           dan untuk tahun yang berakhir                                        and for year then ended
               pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
              kecuali dinyatakan lain)



34. SALDO DAN TRANSAKSI DENGAN PIHAK                            34. RELATED   PARTIES      BALANCES                          AND
    BERELASI (lanjutan)                                             TRANSACTIONS (continued)
  d.    Rincian jenis transaksi dan sifat hubungan                   d.     Nature of transactions and relationships
        dengan pihak berelasi adalah sebagai                                with related parties, are as follows:
        berikut:

                     Sifat hubungan
                 dengan pihak berelasi/
                     Nature of related             Pihak berelasi/
         No.               parties                 Related parties                         Transaksi/Transactions
         1.      Entitas yang memiliki       PT Citra Borneo Indah              Dana talangan, pinjaman, jasa research, dan
                 pengaruh       signifikan   (“CBI”)                            pendapatan keuangan/Payments on behalf of the
                 terhadap      Kelompok                                         related party, loan, research services, and
                 Usaha/Entity which has                                         finance income.
                 significant influence to
                 the Group                   Bapak Abdul Rasyid AS              Sewa tanah/land rental.
          2.     Pihak berelasi lainnya/     PT Amprah       Mitra   Jaya       Dana talangan dan pembelian lain-lain/Payments
                 Other related parties       (“AMJ”)                            on behalf of the related party and purchase non
                                                                                trade
                                             PT   Bank    Perkreditan          Kas dan setara kas, deposito berjangka, dan
                                             Rakyat Lingga Sejahtera           sewa/Cash and cash equivalents, time deposits
                                             (“BPRLS”)                         ,and rental
                                             Borneo Agri Resources             Penjualan/Sales
                                             Industries Pte Ltd (“BARI”)
                                             PT Borneo Sawit Gemilang          Penjualan TBS dan dana talangan/Sales of FFB
                                             (“BSG”)                           and payment on behalf of the related party

                                             PT Central Kalimantan             Dana talangan/Payment on behalf of the related
                                             Abadi (“CKA”)                     party


                                             PT Erythrina                      Dana talangan/Payments on behalf of the
                                             Nugraha Megah (“ENM”)             related party

                                             PT Intrado Jaya Intiga            Dana talangan/Payments on behalf of the
                                             (“IJI”)                           related party

                                             PT Mandiri Indah Lestari          Dana talangan dan penjamin/Payments on
                                             (“MIL”)                           behalf of the related party and corporate
                                                                               guarantor

                                             PT Mendawai Putra (“MP”)          Dana talangan/Payments on behalf of the
                                                                               related party

                                             PT Menthobi Sawit Jaya            Pembelian buah sawit dan dana
                                             (“MSJ”)                           talangan/Purchase of fresh fruit bunch and
                                                                               payments on behalf of the related party

                                             PT Natai Sawit Perkasa            Dana talangan dan penjualan bibit/Payments
                                             (“NSP”)                           on behalf of the related party and nursery sales




                                                       141




                                                                                                                                                    429
                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 430
                                                                                                          The original consolidated financial statements included herein
                                                                                                                                        are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                              AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                     Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                                 financial statements
                                      Tanggal 31 Desember 2023                                                          As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                      and for year then ended
                                         pada tanggal tersebut                                                     (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                     unless otherwise stated)
                                        kecuali dinyatakan lain)


                      34. SALDO DAN TRANSAKSI DENGAN PIHAK                                            34. RELATED   PARTIES      BALANCES                            AND
                          BERELASI (lanjutan)                                                             TRANSACTIONS (continued)

                            d.    Rincian jenis transaksi dan sifat hubungan                                 d.     Nature of transactions and relationships
                                  dengan pihak berelasi adalah sebagai                                              with related parties, are as follows:
                                  berikut: (lanjutan)                                                               (continued)
                                                  Sifat hubungan
                                              dengan pihak berelasi/
                                                 Nature of related                        Pihak berelasi/
                                    No.                 parties                          Related parties                            Transaksi/Transactions
                                     2.       Pihak berelasi lainnya/               PT    Pelayaran    Lingga           Dana talangan dan pengangkutan/Payments on
                                              Other related parties                 Marintama (“LM”)                    behalf of the related party and freight

                                                                                    PT Pelayaran Senggora               Dana talangan dan pengangkutan/Payments on
                                                                                    (“PS”)                              behalf of the related party and freight

                                                                                    PT       Pesona         Citra       Pekerjaan konstruksi, uang jaminan, dan uang
                                                                                    Propertindo (“PCP”)                 muka sewa kantor/Construction work, security
                                                                                                                        deposit, and advance for office rental

                                                                                    PT Prima Sawit Borneo               Jaminan/Corporate guarantor
                                                                                    (“PSB”)

                                                                                    PT Sepalar Yasa Kartika             Dana talangan dan pembelian TBS/Payments
                                                                                    (“SYK”)                             on behalf of the related party and purchase of
                                                                                                                        FFB

                                                                                    PT Sulung Ranch (“SR”)              Dana talangan dan jasa lain-lain/Payments on
                                                                                                                        behalf of the related party and other service



                      35. NILAI WAJAR DARI INSTRUMEN KEUANGAN                                         35. FAIR VALUE OF FINANCIAL INSTRUMENTS

                           Tabel berikut menyajikan nilai tercatat instrumen                                 The following table presents the carrying value of
                           keuangan konsolidasian yang dianggap mendekati                                    consolidated financial instruments that are
                           nilai wajarnya pada tanggal 31 Desember 2023,                                     considered close to their fair value at the date of
                           2022, dan 2021:                                                                   December 31, 2023, 2022, and 2021:
                                                                                          Disajikan kembali - Catatan 4/
                                                                                                As restated - Note 4

                                                                                                               1 Januari 2022/
                                                                                                               January 1, 2022/
                                                              31 Desember 2023/        31 Desember 2022/      31 Desember 2021/
                                                              December 31, 2023        December 31, 2022      December 31, 2021

                          Aset keuangan                                                                                                                   Financial assets
                          Pinjaman yang diberikan dan piutang                                                                                      Loans and receivables
                             Kas dan setara kas                     1.237.290.419           1.806.836.518           1.984.947.384           Cash and cash equivalents
                             Piutang usaha                                                                                                           Trade receivables
                                Pihak berelasi                        617.509.691            443.821.465             299.476.937                      Related parties
                                Pihak ketiga                           43.034.252            414.432.549              93.588.363                         Third parties
                             Piutang lain-lain                                                                                                       Other receivables
                                Pihak berelasi                        283.923.652            251.958.578             536.798.313                     Related parties
                                Pihak ketiga                           15.806.332             23.110.194              31.562.115                         Third parties
                             Pinjaman kepada pihak berelasi           475.623.562            285.451.862                       -                Loan to related parties
                             Aset lancar lainnya                      888.190.872                      -                       -                  Other current assets
                             Piutang plasma                                                                                                         Plasma receivables
                                setelah dikurangi dengan                                                                                             after net off with
                                penyisihan penurunan nilai                                                                                 allowance for impairment
                                Rp37.274.799 (2022: RpNihil)          588.537.684             505.537.041            381.673.661          Rp37,274,799 (2022:RpNil)
                             Pinjaman jangka panjang kepada                                                                                      Long-term convertible
                                pihak berelasi yang dapat dikonversi 219.473.951              160.319.303                       -             loan to a related party

                                                                   4.369.390.415            3.891.467.510           3.328.046.773




                                                                                             142




430 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 431
                                                                          The original consolidated financial statements included herein
                                                                                                        are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                              PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                                         AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                                Notes to the CONSOLIDATED
                KONSOLIDASIAN                                                            financial statements
          Tanggal 31 Desember 2023                                                     As of December 31, 2023
         dan untuk tahun yang berakhir                                                 and for year then ended
             pada tanggal tersebut                                                (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                                unless otherwise stated)
            kecuali dinyatakan lain)


35. NILAI WAJAR DARI INSTRUMEN KEUANGAN                                  35. FAIR VALUE OF FINANCIAL INSTRUMENTS
    (lanjutan)                                                               (continued)

   Tabel berikut menyajikan nilai tercatat instrumen                           The following table presents the carrying value of
   keuangan konsolidasian yang dianggap mendekati                              consolidated financial instruments that are
   nilai wajarnya pada tanggal 31 Desember 2023,                               considered close to their fair value at the date of
   2022, dan 2021: (lanjutan)                                                  December 31, 2023, 2022, and 2021: (continued)
                                                             Disajikan kembali - Catatan 4/
                                                                   As restated - Note 4

                                                                                1 Januari 2022/
                                                                                January 1, 2022/
                                      31 Desember 2023/   31 Desember 2022/    31 Desember 2021/
                                      December 31, 2023   December 31, 2022    December 31, 2021

   Liabilitas keuangan                                                                                                 Financial liabilities
      Utang dan pinjaman                                                                                         Loans and borrowings
      Utang usaha                                                                                                     Trade payables
          Pihak ketiga                      279.793.615         168.961.353           203.965.554                      Third parties
          Pihak berelasi                     84.486.873          53.686.174           114.162.204                    Related parties
      Beban akrual                           65.502.846         116.654.531           235.087.386                   Accrued expenses
      Utang lain-lain                                                                                                   Other payables
          Pihak ketiga                      702.835.041         837.369.242           456.162.511                       Third parties
          Pihak berelasi                     37.546.770          13.432.293            15.396.022                    Related parties
      Liabilitas imbalan kerja                                                                                    Short-term employee
          karyawan jangka pendek            142.755.254         169.022.031           142.876.597                   benefit liabilities
      Utang bank jangka pendek            2.437.341.526         973.981.690           968.978.400                 Short-term bank loan
      Utang bank jangka panjang
          jatuh tempo                                                                                    Current maturities of long-term
          dalam satu tahun                  897.754.076         856.786.228           328.000.896                          bank loan
      Utang bank jangka
          panjang setelah dikurangi
          bagian jatuh tempo                                                                                     Long-term bank loan -
          dalam satu tahun                4.766.529.162       4.686.503.481         2.014.539.472                      net of maturities
      Utang obligasi                                  -                   -         4.247.062.364                       Bonds payable

                                          9.414.545.163       7.876.397.023         8.726.231.406



   Nilai wajar didefinisikan sebagai jumlah dimana                             Fair value is defined as the amount at which the
   instrumen tersebut dapat dipertukarkan di dalam                             instrument could be exchanged in a current
   transaksi kini antara pihak yang berkeinginan dan                           transaction between knowledgeable willing parties
   memiliki pengetahuan yang memadai melalui suatu                             in an arm's length transaction, other than in a forced
   transaksi yang wajar, selain di dalam penjualan                             or liquidation sale. Fair values are obtained from
   terpaksa atau penjualan likuidasi. Nilai wajar                              quoted market prices and discounted cash flow
   didapatkan dari kuotasi harga pasar dan model arus                          models.
   kas diskonto.

   Kelompok Usaha menggunakan hierarki berikut ini                             The Group uses the following hierarchy for
   untuk menentukan dan mengungkapkan nilai wajar                              determining and disclosing the fair value of financial
   instrumen keuangan:                                                         instruments:
     Tingkat 1: Nilai wajar diukur berdasarkan                                     Level 1: Fair values are measured based on
                   pada harga kuotasi (tidak                                                  quoted prices (unadjusted) in active
                   disesuaikan) dalam pasar aktif                                             markets for identical assets or
                   untuk aset atau liabilitas sejenis.                                        liabilities.
     Tingkat 2: Nilai wajar diukur berdasarkan                                  Level 2:    Fair values are measured based on
                   teknik-teknik valuasi, yaitu untuk                                         valuation techniques for which all
                   seluruh input yang diketahui baik                                          inputs which have a significant
                   secara langsung ataupun tidak                                              effect on the recorded fair values
                   langsung     memiliki      dampak                                          are observable, either directly or
                   signifikan atas nilai wajar                                                indirectly.
                   tercatat.




                                                                143




                                                                                                                                                             431
                                                                                                                 PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                        Laporan Tahunan 2023 Annual Report
Page 432
                                                                                            The original consolidated financial statements included herein
                                                                                                                          are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                     PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                       Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                   financial statements
                                      Tanggal 31 Desember 2023                                            As of December 31, 2023
                                     dan untuk tahun yang berakhir                                        and for year then ended
                                         pada tanggal tersebut                                       (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                       unless otherwise stated)
                                        kecuali dinyatakan lain)


                      35. NILAI WAJAR DARI INSTRUMEN KEUANGAN                               35. FAIR VALUE OF FINANCIAL INSTRUMENTS
                          (lanjutan)                                                            (continued)

                            Kelompok Usaha menggunakan hierarki berikut ini                    The Group uses the following hierarchy for
                            untuk menentukan dan mengungkapkan nilai wajar                     determining and disclosing the fair value of financial
                            instrumen keuangan: (lanjutan)                                     instruments: (continued)

                                 Tingkat 3:    Nilai wajar diukur berdasarkan                      Level 3:     Fair values are measured based on
                                                teknik-teknik valuasi, yaitu untuk                                valuation techniques for which any
                                                seluruh input yang tidak dapat                                    inputs which have a significant
                                                diketahui baik secara langsung                                    effect on the recorded fair value that
                                                ataupun tidak langsung memiliki                                   are not based on observable
                                                dampak signifikan atas nilai                                      market data (unobservable inputs).
                                                wajar tercatat.
                            Instrumen keuangan yang disajikan di dalam                          Financial instruments presented in the consolidated
                            laporan posisi keuangan konsolidasian dicatat                       statements of financial position are carried at fair
                            sebesar nilai wajar atau biaya perolehan                            value or amortized cost, otherwise, they are
                            diamortisasi, jika tidak, disajikan dalam jumlah                    presented at carrying values as either these are
                            tercatat apabila jumlah tersebut mendekati nilai                    reasonable approximation of fair values or their fair
                            wajarnya atau nilai wajarnya tidak dapat diukur                     values cannot be reliably measured.
                            secara andal.
                            Berikut ini adalah metode dan asumsi yang                           The following are the methods and assumptions to
                            digunakan dalam mengestimasi nilai wajar dari                       estimate the fair value of each class of the Group’s
                            setiap golongan instrumen keuangan Kelompok                         financial instruments:
                            Usaha:

                            1.    Kas dan setara kas, piutang usaha - pihak                    1. Cash and cash equivalents, trade receivables -
                                  ketiga dan piutang lain-lain - pihak ketiga dan                 third parties, other receivables - third parties and
                                  pihak berelasi.                                                 related parties.
                                  Untuk aset keuangan yang akan jatuh tempo                          For financial assets that are due within
                                  dalam waktu 12 bulan, nilai tercatat aset                          12 months, the carrying values of the financial
                                  keuangan     tersebut     dianggap     telah                       assets approximate their fair values.
                                  mencerminkan nilai wajar dari aset keuangan
                                  tersebut.

                            2.    Utang usaha, utang lain-lain dan beban akrual.                2. Trade payables, other payables and accrued
                                                                                                   expenses.

                                  Seluruh liabilitas keuangan di atas merupakan                      All of the above financial liabilities are due within
                                  liabilitas yang akan jatuh tempo dalam waktu 12                    12 months, thus, the carrying value of the
                                  bulan sehingga nilai tercatat liabilitas keuangan                  financial liabilities approximate their fair value.
                                  tersebut telah mencerminkan nilai wajar.
                            3.    Pinjaman dari pihak berelasi, utang bank,                     3. Loan to related parties, bank loan, plasma
                                  piutang plasma, liabilitas sewa pembiayaan,                      receivable, finance lease liabilities, and bonds
                                  dan utang obligasi.                                              payable.

                                  Seluruh liabilitas keuangan di atas memiliki                       All of the above financial liabilities have floating
                                  suku bunga variabel yang disesuaikan dengan                        interest rates which are adjusted based on the
                                  pergerakan suku bunga pasar sehingga jumlah                        movements of the market interest rates, thus the
                                  terutang liabilitas keuangan tersebut telah                        payable amounts of this financial liability
                                  mendekati nilai wajar.                                             approximate its fair values.




                                                                                      144




432 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 433
                                                                     The original consolidated financial statements included herein
                                                                                                   are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                KONSOLIDASIAN                                                      financial statements
          Tanggal 31 Desember 2023                                               As of December 31, 2023
         dan untuk tahun yang berakhir                                           and for year then ended
             pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
            kecuali dinyatakan lain)


36. TUJUAN DAN KEBIJAKAN                 MANAJEMEN                  36. FINANCIAL RISK MANAGEMENT OBJECTIVES
    RISIKO KEUANGAN                                                     AND POLICIES

   Liabilitas keuangan Kelompok Usaha terdiri dari                      The Group’s financial liabilities comprise trade
   utang usaha, utang lain-lain, beban akrual, liabilitas               payables, other payables, accrued expenses, short-
   imbalan kerja karyawan jangka pendek, liabilitas                     term employee benefits liabilities, finance lease
   sewa pembiayaan, utang bank jangka panjang, dan                      liabilities, long-term bank loan, and bonds payable.
   utang obligasi. Tujuan utama dari liabilitas                         The main purpose of these financial liabilities is to
   keuangan adalah untuk meningkatkan keuangan                          raise financing for the Group’s operations. The
   operasi Kelompok Usaha. Kelompok Usaha                               Group has financial assets including cash and cash
   memiliki aset keuangan meliputi kas dan setara kas,                  equivalents, trade receivables, other receivables,
   piutang usaha, piutang lain-lain, pinjaman kepada                    loan to related parties, other non-current assets -
   pihak berelasi, aset tidak lancar lainnya - deposito                 restricted time deposits, long-term receivables to a
   yang dibatasi penggunaanya, piutang jangka                           related party, and plasma receivables.
   panjang kepada pihak berelasi, dan piutang
   plasma.

   Kelompok Usaha menghadapi risiko pasar, risiko                       The Group is exposed to market risk, interest rate
   tingkat suku bunga, risiko kredit dan risiko likuiditas.             risk, credit risk and liquidity risk. The Company's
   Manajemen Perseroan mengawasi manajemen                              Management oversees the management of these
   risiko dari risiko-risiko tersebut. Mengelola risiko ini             risks. Managing these risks is part of the Group’s
   merupakan bagian dari proses manajemen risiko                        risk management process. The Board of Directors
   Kelompok Usaha. Direksi menelaah dan menyetujui                      reviews and agrees the policies for managing each
   kebijakan untuk mengelola setiap risiko sebagai                      of these risks which are summarized below.
   berikut.

  Risiko pasar                                                           Market risk
  Risiko pasar merupakan risiko dimana nilai wajar                       Market risk is the risk that the fair value of future
  dari arus kas masa depan dari instrumen keuangan                       cash flows of a financial instrument will fluctuate
  akan berfluktuasi disebabkan oleh perubahan harga                      because of changes in market prices. Market
  pasar. Harga pasar terdiri dari dua jenis risiko: risiko               prices comprise two types of risk: foreign currency
  mata uang asing dan risiko harga komoditas.                            risk and commodity price risk. Financial
  Instrumen keuangan dipengaruhi oleh risiko pasar                       instruments affected by market risk include cash
  termasuk kas dan setara kas dan hutang lain-lain.                      and cash equivalents and other payables.

  a. Risiko mata uang asing                                             a. Foreign currency risk

      Mata uang pelaporan Perseroan adalah                                  The Company’s reporting currency is Rupiah.
      Rupiah. Perseroan dapat menghadapi risiko                             The Company faces foreign exchange risk as
      nilai tukar mata uang asing karena penjualan                          its sales and the costs of certain purchases are
      dan biaya beberapa pembelian dalam mata                               either denominated in foreign currency (mainly
      uang asing (terutama Dolar AS) atau harga                             US Dollar) or whose price is significantly
      yang secara signifikan dipengaruhi oleh                               influenced by movements in foreign currencies.
      perubahan nilai tukar mata uang asing. Tidak                          There is no formal hedging policy with respect
      ada kebijakan formal lindung nilai sehubungan                         to foreign exchange exposures. Exposure to
      dengan eksposur valuta asing. Eksposur                                exchange risk is monitored on an ongoing
      terhadap risiko nilai tukar dipantau secara                           basis.
      berkelanjutan.




                                                              145




                                                                                                                                                      433
                                                                                                           PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                 Laporan Tahunan 2023 Annual Report
Page 434
                                                                                             The original consolidated financial statements included herein
                                                                                                                           are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                       PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                  AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                         Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                     financial statements
                                      Tanggal 31 Desember 2023                                              As of December 31, 2023
                                     dan untuk tahun yang berakhir                                          and for year then ended
                                         pada tanggal tersebut                                         (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                         unless otherwise stated)
                                        kecuali dinyatakan lain)


                     36. TUJUAN DAN KEBIJAKAN                    MANAJEMEN                 36. FINANCIAL RISK MANAGEMENT OBJECTIVES
                         RISIKO KEUANGAN (lanjutan)                                            AND POLICIES (continued)

                           Risiko pasar (lanjutan)                                               Market risk (continued)
                           a. Risiko mata uang asing (lanjutan)                                 a. Foreign currency risk (continued)

                                 Tabel berikut ini menunjukan sensitivitas                            The following table demonstrates the sensitivity
                                 kemungkinan perubahan tingkat nilai tukar                            to a reasonably possible change in the Rupiah
                                 Rupiah terhadap mata uang asing, dengan                              exchange rate again foreign currency, with all
                                 asumsi variabel lain konstan. dampak terhadap                        other variables held constant. the effect to the
                                 laba sebelum beban pajak penghasilan badan                           profit before corporate income tax expenses is
                                 sebagai berikut:                                                     as follows:
                                                                                             Dampak terhadap
                                                                                               Laba sebelum
                                                                                                beban pajak
                                                                       Perubahan            penghasilan badan/
                                                                       tingkat Rp/             Effect on profit
                                                                        Change in             before corporate
                                                                         Rp rate            income tax expense

                                  31 Desember 2023                                                                                December 31, 2023
                                  Dolar AS                                      +10%                    35.965.029                        US Dollar
                                  Euro                                          +10%                        52.989                        US Dollar
                                  Dolar AS                                      -10%                   (35.965.029)                       US Dollar
                                  Euro                                          -10%                       (52.989)                       US Dollar

                                  31 Desember 2022                                                                                December 31, 2022
                                  Dolar AS                                      +10%                   147.425.189                        US Dollar
                                  Euro                                          +10%                        52.989                             Euro
                                  Dolar AS                                      -10%                  (147.425.189)                       US Dollar
                                  Euro                                          -10%                       (52.989)                            Euro

                            b.    Risiko harga komoditas                                         b.     Commodity price risk

                                  Kelompok Usaha terkena dampak risiko harga                            The Group is exposed to commodity price risk
                                  komoditas yang dipengaruhi oleh beberapa                              due to certain factors such as weather,
                                  faktor, antara lain cuaca, kebijakan pemerintah,                      government policy, level of demand and supply
                                  tingkat permintaan dan penawaran pasar, dan                           in the market, and the global economic
                                  lingkungan ekonomi global. Dampak tersebut                            environment. Such exposure mainly arises
                                  terutama timbul dari penjualan produk kelapa                          from its sales of oil palm products where the
                                  sawit, di mana marjin laba atas penjualan                             profit margin on sale of oil palm products may
                                  produk kelapa sawit tersebut terpengaruh                              be affected from international market prices
                                  fluktuasi harga pasar internasional.                                  fluctuations.

                                  Tidak ada kebijakan formal lindung nilai                              There is no formal hedging policy with respect
                                  sehubungan dengan eksposur risiko harga                               to the commodity price risk. Exposure to the
                                  komoditas. Eksposur terhadap risiko harga                             commodity price risk is monitored on an
                                  komoditas dipantau secara berkelanjutan.                              ongoing basis.




                                                                                     146




434 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 435
                                                                The original consolidated financial statements included herein
                                                                                              are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                 PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                            AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                   Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                               financial statements
            Tanggal 31 Desember 2023                                        As of December 31, 2023
           dan untuk tahun yang berakhir                                    and for year then ended
               pada tanggal tersebut                                   (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                   unless otherwise stated)
              kecuali dinyatakan lain)


36. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO                      36. FINANCIAL RISK MANAGEMENT OBJECTIVES
    KEUANGAN (lanjutan)                                            AND POLICIES (continued)

    Risiko tingkat suku bunga                                       Interest rate risk
    Risiko tingkat suku bunga Kelompok Usaha                       The Group's interest rate risk mainly arises from
    terutama timbul dari pinjaman untuk tujuan modal               loans for working capital and investment purposes.
    kerja dan investasi. Pinjaman pada berbagai                    Loans at variable rates expose the Group to fair
    tingkat suku bunga variabel menunjukkan                        value interest rate risk. There is no formal hedging
    Kelompok Usaha kepada nilai wajar risiko tingkat               policy with respect to interest rate exposures.
    suku bunga. Tidak ada kebijakan formal lindung                 Exposure to interest rate risk is monitored on an
    nilai sehubungan dengan eksposur tingkat bunga.                ongoing basis.
    Eksposur terhadap risiko tingkat bunga dipantau
    secara berkelanjutan.

    Tabel   berikut  ini  menunjukan      sensitifitas              The following table demonstrates the sensitivity to
    kemungkinan perubahan tingkat suku bunga                        a reasonably possible change in interest rates on
    pinjaman. Dengan asumsi variabel lain konstan,                  that portion of loans. With all other variables held
    laba sebelum beban pajak konsolidasian                          constant, the consolidated profit before tax expense
    penghasilan badan dipengaruhi oleh tingkat suku                 is affected through the impact on floating rate loans
    bunga mengambang sebagai berikut:                               as follows:

                                                                Dampak terhadap
                                             Kenaikan/             laba sebelum
                                         penurunan dalam            beban pajak
                                            satuan poin/       penghasilan badan/
                                              Increase/           Effect on profit
                                              decrease           before corporate
                                           in basis point      income tax expense
   31 Desember 2023                                                                                     December 31, 2023
   Rupiah                                            +100               (140.593.873 )                            Rupiah
   Dolar AS                                          +100                 (7.372.831 )                          US Dollar
   Euro                                              +100                    (10.863 )                               Euro
   Rupiah                                            -100                140.593.873                              Rupiah
   Dolar AS                                          -100                  7.372.831                            US Dollar
   Euro                                              -100                     10.863                                 Euro
   31 Desember 2022                                                                                     December 31, 2022
   Rupiah                                            +100                (52.457.902 )                            Rupiah
   Dolar AS                                          +100                (29.353.802 )                          US Dollar
   Euro                                              +100                    (11.140 )                               Euro
   Rupiah                                            -100                 52.457.902                              Rupiah
   Dolar AS                                          -100                 29.353.802                            US Dollar
   Euro                                              -100                     11.140                                 Euro


   Risiko kredit                                                  Credit risk

   Risiko kredit yang dihadapi oleh Kelompok Usaha                 The Group is exposed to credit risk arising from the
   berasal dari kredit yang diberikan kepada                       credit granted to its customers. To mitigate this risk,
   pelanggan. Untuk meringankan resiko ini, ada                    it has policies in place to ensure that sales of
   kebijakan untuk memastikan penjualan produk                     products are made only to creditworthy customers
   hanya dibuat kepada pelanggan yang dapat                        with proven track record or good credit history. In
   dipercaya dan terbukti mempunyai sejarah kredit                 addition, receivable balances are monitored on an
   yang baik. Sebagai tambahan, saldo piutang                      ongoing basis to reduce the Company's exposure
   dipantau secara terus menerus untuk mengurangi                  to bad debts.
   kemungkinan piutang yang tidak tertagih.




                                                         147




                                                                                                                                                 435
                                                                                                      PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                            Laporan Tahunan 2023 Annual Report
Page 436
                                                                                             The original consolidated financial statements included herein
                                                                                                                           are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                 AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                        Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                    financial statements
                                    Tanggal 31 Desember 2023                                             As of December 31, 2023
                                   dan untuk tahun yang berakhir                                         and for year then ended
                                       pada tanggal tersebut                                        (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                        unless otherwise stated)
                                      kecuali dinyatakan lain)


                    36. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO                           36. FINANCIAL RISK MANAGEMENT OBJECTIVES
                        KEUANGAN (lanjutan)                                                 AND POLICIES (continued)

                           Risiko kredit (lanjutan)                                             Credit risk (continued)

                            Tabel berikut menggambarkan jumlah risiko kredit                   The following table sets out the total credit risk and
                            dan konsentrasi risiko yang dimiliki Kelompok Usaha                risk concentration of the Group as of December 31,
                            pada tanggal-tanggal 31 Desember 2023, 2022, dan                   2023, 2022, and 2021:
                            2021:

                                                            Tahun yang berakhir pada tanggal 31 Desember 2023/
                                                                    Year ended December 31, 2023

                                                         Belum jatuh        Jatuh tempo
                                                          tempo dan          dan tidak
                                                       tidak mengalami       mengalami
                                                       penurunan nilai/   penurunan nilai/
                                                       Neither past due     Past due but            Jumlah/
                                                         nor impaired       not impaired             Total

                           Kas dan setara kas             1.237.290.419                  -         1.237.290.419           Cash and cash equivalents
                           Piutang usaha                    660.543.943                  -           660.543.943                   Trade receivables
                           Piutang lain - lain              299.729.984                  -           299.729.984                    Other receivables
                           Pinjaman kepada pihak berelasi   475.623.562                  -           475.623.562               Loan to related parties
                           Aset lancar lainnya              888.190.872                  -           888.190.872                 Other current assets
                           Piutang plasma                   588.537.684                  -           588.537.684                  Plasma receivables
                           Pinjaman jangka panjang kepada
                              pemegang saham yang dapat                                                                     Long-term convertible loan
                              dikonversi                    219.473.951                  -           219.473.951                    to a shareholder
                           Aset tidak lancar lainnya -
                              Deposito yang                                                                                 Other non-current assets -
                              dibatasi penggunaannya          6.007.575                  -             6.007.575            Restricted time deposits
                           Aset tidak lancar lainnya -                                                                      Other non-current assets -
                              uang jaminan                    3.170.277                  -             3.170.277                  guarentee deposits

                                                          4.378.568.267                  -         4.378.568.267


                                             Tahun yang berakhir pada tanggal 31 Desember 2022 - disajikan Kembali (Catatan 4)/
                                                          Year ended December 31, 2022 - as restated (Note 4)

                                                         Belum jatuh        Jatuh tempo
                                                          tempo dan          dan tidak
                                                       tidak mengalami       mengalami
                                                       penurunan nilai/   penurunan nilai/
                                                       Neither past due     Past due but            Jumlah/
                                                         nor impaired       not impaired             Total

                           Kas dan setara kas             1.806.836.518                  -         1.806.836.518           Cash and cash equivalents
                           Piutang usaha                    858.254.014                  -           858.254.014                   Trade receivables
                           Piutang lain - lain              275.068.772                  -           275.068.772                   Other receivables
                           Pinjaman kepada pihak berelasi   285.451.862                  -           285.451.862               Loan to related parties
                           Piutang plasma                   505.537.041                  -           505.537.041                 Plasma receivables
                           Pinjaman jangka panjang kepada
                              pemegang saham yang dapat                                                                     Long-term convertible loan
                              dikonversi                    160.319.303                  -           160.319.303                     to a shareholder
                           Aset tidak lancar lainnya -
                              Deposito yang                                                                                 Other non-current assets -
                              dibatasi penggunaannya          6.007.575                  -             6.007.575            Restricted time deposits
                           Aset tidak lancar lainnya -                                                                      Other non-current assets -
                              uang jaminan                    3.235.057                  -             3.235.057                  guarentee deposits

                                                          3.900.710.142                  -         3.900.710.142




                                                                                  148




436 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 437
                                                                       The original consolidated financial statements included herein
                                                                                                     are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                      financial statements
            Tanggal 31 Desember 2023                                               As of December 31, 2023
           dan untuk tahun yang berakhir                                           and for year then ended
               pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
              kecuali dinyatakan lain)


36. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO                         36. FINANCIAL RISK MANAGEMENT OBJECTIVES
    KEUANGAN (lanjutan)                                               AND POLICIES (continued)

   Risiko kredit (lanjutan)                                               Credit risk (continued)

    Tabel berikut menggambarkan jumlah risiko kredit                     The following table sets out the total credit risk and
    dan konsentrasi risiko yang dimiliki Kelompok Usaha                  risk concentration of the Group as of December 31,
    pada tanggal-tanggal 31 Desember 2023, 2022, dan                     2023, 2022, and 2021: (continued)
    2021: (lanjutan)

                Tahun yang berakhir pada tanggal 1 Januari 2022/31 Desember 2021 - disajikan Kembali (Catatan 4)/
                            Year ended January 1, 2022/December 31, 2021 - as restated (Note 4)

                                    Belum jatuh        Jatuh tempo
                                     tempo dan          dan tidak
                                  tidak mengalami       mengalami
                                  penurunan nilai/   penurunan nilai/
                                  Neither past due     Past due but           Jumlah/
                                    nor impaired       not impaired            Total

    Kas dan setara kas              1.984.947.384                  -         1.984.947.384           Cash and cash equivalents
    Piutang usaha                     393.065.300                  -           393.065.300                   Trade receivables
    Piutang lain - lain               568.360.428                  -           568.360.428                   Other receivables
    Piutang plasma                    381.673.661                  -           381.673.661                 Plasma receivables
    Aset tidak lancar lainnya -
       Deposito yang                                                                                  Other non-current assets -
       dibatasi penggunaannya           6.007.575                  -             6.007.575            Restricted time deposits
    Aset tidak lancar lainnya -                                                                       Other non-current assets -
       uang jaminan                     3.235.057                  -             3.235.057                  guarentee deposits

                                    3.337.289.405                  -         3.337.289.405


    Risiko likuiditas                                                     Liquidity risk

    Risiko likuiditas adalah risiko bahwa Kelompok                        Liquidity risk is the risk that the Group will encounter
    Usaha akan mengalami kesulitan dalam memenuhi                         difficulty in meeting financial obligation due to
    liabilitas keuangan karena kekurangan dana.                           shortage of liquidity.

    Kelompok Usaha mengelola profil likuiditasnya                         The Group manages its liquidity profile to be able to
    untuk dapat mendanai pengeluaran modalnya dan                         finance its capital expenditure and service its
    mengelola utang yang jatuh tempo dengan                               maturing debts by maintaining sufficient cash and
    mengatur kas dan ketersediaan pendanaan melalui                       the availability of funding through an adequate
    jumlah komitmen fasilitas kredit yang cukup.                          amount of committed credit facilities.




                                                           149




                                                                                                                                                        437
                                                                                                             PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                   Laporan Tahunan 2023 Annual Report
Page 438
                                                                                                              The original consolidated financial statements included herein
                                                                                                                                            are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                                         PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                                    AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                                           Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                                       financial statements
                                    Tanggal 31 Desember 2023                                                                As of December 31, 2023
                                   dan untuk tahun yang berakhir                                                            and for year then ended
                                       pada tanggal tersebut                                                           (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                                           unless otherwise stated)
                                      kecuali dinyatakan lain)


                    36. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO                                              36. FINANCIAL RISK MANAGEMENT OBJECTIVES
                        KEUANGAN (lanjutan)                                                                    AND POLICIES (continued)

                            Risiko likuiditas (lanjutan)                                                           Liquidity risk (continued)

                            Tabel berikut ini menunjukan profil jangka waktu                                       The table below summarises the maturity profile of
                            pembayaran liabilitas Kelompok Usaha berdasarkan                                       the Group’s financial liabilities based on contractual
                            pembayaran dalam kontrak.                                                              payments.
                                                                         Untuk tahun yang Berakhir pada Tanggal 31 Desember 2023
                                                                                   For the year Ended December 31, 2023

                                                   Kurang dari 1 tahun/        1-2 tahun/           2-5 tahun/            >5 tahun/             Total/
                                                    Less than 1 year           1-2 years             2-5 years            >5 years              Total

                             Utang usaha                                                                                                                         Trade payables
                                Pihak ketiga             279.793.615                        -                     -                   -        279.793.615        Third parties
                                Pihak berelasi            84.486.873                        -                     -                   -         84.486.873      Related parties
                              Beban akrual                65.502.846                        -                     -                   -         65.502.846     Accrued expenses
                              Utang lain-lain                                                                                                                    Other payables
                                Pihak ketiga             702.835.041                        -                     -                   -        702.835.041        Third parties
                                Pihak berelasi            37.546.770                        -                     -                   -         37.546.770      Related parties
                              Utang bank jangka
                                panjang yang jatuh                                                                                                                Long-term bank
                                tempo dalam satu                                                                                                                 loans - current
                                tahun                    897.754.076                        -                     -                   -        897.754.076           maturities
                              Liabilitas imbalan kerja                                                                                                                 Short-term
                                karyawan                                                                                                                      employee benefits
                                jangka pendek            147.986.415                        -                     -                   -        147.986.415             liabilities
                              Utang bank jangka
                                panjang - setelah
                                dikurangi bagian                                                                                                                  Long term bank
                                jatuh tempo dalam                                                                                                                  loan - net of
                                satu tahun             4.766.529.162                        -                     -                   -       4.766.529.162   current maturities

                                                         6.982.434.798                      -                     -                   -       6.982.434.798

                                                           Untuk tahun yang Berakhir pada Tanggal 31 Desember 2022 - Disajikan kembali - Catatan 4/
                                                                        For the year Ended December 31, 2022 - As restated - Note 4

                                                   Kurang dari 1 tahun/        1-2 tahun/           2-5 tahun/            >5 tahun/             Total/
                                                    Less than 1 year           1-2 years             2-5 years            >5 years              Total

                             Utang usaha                                                                                                                         Trade payables
                                Pihak ketiga              138.796.191                       -                     -                   -        138.796.191        Third parties
                                Pihak berelasi             83.851.336                       -                     -                   -         83.851.336      Related parties
                              Beban akrual                116.654.531                       -                     -                   -        116.654.531     Accrued expenses
                              Utang lain-lain                                                                                                                    Other payables
                                Pihak ketiga              837.369.242                       -                     -                   -        837.369.242        Third parties
                                Pihak berelasi             13.432.293                       -                     -                   -         13.432.293      Related parties
                              Utang bank jangka
                                panjang yang jatuh                                                                                                                Long-term bank
                                tempo dalam satu                                                                                                                 loans - current
                                tahun                     856.786.228                       -                     -                   -        856.786.228           maturities
                              Liabilitas imbalan kerja                                                                                                                 Short-term
                                karyawan                                                                                                                      employee benefits
                                jangka pendek             169.022.031                       -                     -                       -    169.022.031             liabilities
                              Utang bank jangka
                                panjang - setelah
                                dikurangi bagian                                                                                                                  Long term bank
                                jatuh tempo dalam                                                                                                                  loan - net of
                                satu tahun                           -        1.070.071.270         2.069.009.997      1.547.422.214          4.686.503.481   current maturities

                                                         2.215.911.852        1.070.071.270         2.069.009.997      1.547.422.214          6.902.415.333




                                                                                                  150




438 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 439
                                                                                      The original consolidated financial statements included herein
                                                                                                                    are in the Indonesian language.

       PT SAWIT SUMBERMAS SARANA Tbk.                                                         PT SAWIT SUMBERMAS SARANA Tbk.
             DAN ENTITAS ANAKNYA                                                                    AND ITS SUBSIDIARIES
          Catatan atas Laporan Keuangan                                                           Notes to the CONSOLIDATED
                  KONSOLIDASIAN                                                                       financial statements
            Tanggal 31 Desember 2023                                                                As of December 31, 2023
           dan untuk tahun yang berakhir                                                            and for year then ended
               pada tanggal tersebut                                                           (Expressed in thousands of Rupiah,
          (Disajikan dalam ribuan Rupiah,                                                           unless otherwise stated)
              kecuali dinyatakan lain)


36. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO                                         36. FINANCIAL RISK MANAGEMENT OBJECTIVES
    KEUANGAN (lanjutan)                                                               AND POLICIES (continued)
    Risiko likuiditas (lanjutan)                                                            Liquidity risk (continued)

    Tabel berikut ini menunjukan profil jangka waktu                                        The table below summarises the maturity profile of
    pembayaran liabilitas Kelompok Usaha berdasarkan                                        the Group’s financial liabilities based on contractual
    pembayaran dalam kontrak. (lanjutan)                                                    payments. (continued)
                                   Untuk tahun yang Berakhir pada Tanggal 31 Desember 2021 - Disajikan kembali - Catatan 4/
                                                For the year Ended December 31, 2021 - As restated - Note 4

                           Kurang dari 1 tahun/        1-2 tahun/           2-5 tahun/            >5 tahun/            Total/
                            Less than 1 year           1-2 years             2-5 years            >5 years             Total
     Utang usaha                                                                                                                         Trade payables
        Pihak ketiga              203.965.554                       -                     -                   -       203.965.554         Third parties
        Pihak berelasi            114.162.204                       -                     -                   -       114.162.204       Related parties
      Beban akrual                235.087.386                       -                     -                   -       235.087.386      Accrued expenses
      Utang lain-lain                                                                                                                   Other payables
        Pihak ketiga              456.162.511                       -                     -                   -       456.162.511         Third parties
        Pihak berelasi             15.396.022                       -                     -                   -        15.396.022       Related parties
      Utang bank jangka
        panjang yang jatuh                                                                                                               Long-term bank
        tempo dalam satu                                                                                                                loans - current
        tahun                     328.000.896                       -                     -                   -       328.000.896           maturities
      Liabilitas imbalan kerja                                                                                                                Short-term
        karyawan                                                                                                                     employee benefits
        jangka pendek             142.876.597                       -                     -                   -       142.876.597             liabilities
      Utang bank jangka
        panjang - setelah
        dikurangi bagian                                                                                                                  Long term bank
        jatuh tempo dalam                                                                                                                  loan - net of
        satu tahun                           -         340.350.530            735.041.404        939.147.538        2.014.539.472     current maturities

                                 1.495.651.170         340.350.530            735.041.404        939.147.538        3.510.190.642



 37. INFORMASI SEGMEN                                                               37. SEGMENT INFORMATION
    Pada tanggal 31 Desember 2023 dan 2022,                                               As of December 31, 2023 and 2022, the Group
    Kelompok Usaha menjalankan dan mengelola                                              operates and manages its business in 2 (two)
    usahanya dalam 2 (dua) segmen yaitu perkebunan                                        segment that is oil palm plantations and sells its
    kelapa sawit serta menjual produknya di 1 (satu)                                      products in 1 (one) region that is Central Kalimantan
    wilayah yaitu Kalimantan Tengah dan minyak nabati                                     and edible oil that sold the products in local and
    dengan penjualan dilakukan di pasar lokal dan                                         export markets.
    ekspor.
    Untuk kepentingan manajemen, kelompok usaha                                           For management purposes, the Group is organized
    digolongkan menjadi unit usaha berdasarkan produk                                     into business units based on their products and
    dan jasa dan memiliki dua segmen operasi                                              services and has two reportable operating segments
    dilaporkan sebagai berikut:                                                           as follows:
    Segmen Perkebunan                                                                     Plantations Segment
    Segmen Perkebunan melakukan kegiatan usaha                                            Plantations segment is involved in the development
    dalam pengembangan dan pemeliharaan terkait                                           and maintenance of primary bearer plants, such as
    tanaman produktif utama, yaitu kelapa sawit dan                                       oil palm and other business activities relating to
    aktivitas usaha lainnya yang berkaitan dengan                                         processing of the produce into finished goods, and
    pengolahan hasil perkebunan menjadi barang jadi,                                      the related marketing and selling activities.
    dan aktivitas pemasaran dan penjualan terkait.
    Segmen Minyak Nabati                                                                  Edible Oil Segment
    Segmen Minyak Nabati memproduksi, memasarkan,                                         Edible Oil segment produces, markets, and sells
    dan menjual minyak nabati dan produk terkait                                          edible oil and other related products.
    lainnya.


                                                                          151




                                                                                                                                                                              439
                                                                                                                                    PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                         Laporan Tahunan 2023 Annual Report
Page 440
                                                                                                                                 The original consolidated financial statements included herein
                                                                                                                                                               are in the Indonesian language.

                                 PT SAWIT SUMBERMAS SARANA Tbk.                                                                              PT SAWIT SUMBERMAS SARANA Tbk.
                                       DAN ENTITAS ANAKNYA                                                                                         AND ITS SUBSIDIARIES
                                    Catatan atas Laporan Keuangan                                                                                Notes to the CONSOLIDATED
                                            KONSOLIDASIAN                                                                                            financial statements
                                      Tanggal 31 Desember 2023                                                                                     As of December 31, 2023
                                     dan untuk tahun yang berakhir                                                                                 and for year then ended
                                         pada tanggal tersebut                                                                                (Expressed in thousands of Rupiah,
                                    (Disajikan dalam ribuan Rupiah,                                                                                unless otherwise stated)
                                        kecuali dinyatakan lain)


                      38. AREA PERKEBUNAN                                                                                       38. PLANTATION AREA
                                                                              31 Desember 2023/           31 Desember 2022/                 31 Desember 2021/
                                                                              December 31, 2023           December 31, 2022                 December 31, 2021
                                                                                 (Dalam Ha/                   (Dalam Ha/                        (Dalam Ha/
                                                                                    in Ha                       in Ha)                            in Ha)

                            Tanaman menghasilkan                                           68.901                          68.879                         69.108                         Mature plantations
                            Tanaman belum menghasilkan                                        194                             152                             18                       Immature plantations
                            Lain-lain                                                      24.440                          24.629                         24.534                                    Others

                                                                                           93.535                          93.660                         93.660


                            Selama 2023, terjadi transfer area perkebunan inti                                                          During 2023, there was movement in MKM’s
                            MKM seluas 126 hektar karena mutasi ke area                                                                 plantation area of 126 hectares due to mutation to
                            plasma.                                                                                                     plasma area.

                            Area perkebunan di atas berlokasi di Kotawaringin                                                           Plantations area above are located in Kotawaringin
                            Barat, Lamandau, dan Pulang Pisau, Kalimantan                                                               Barat, Lamandau, and Pulang Pisau, Central
                            Tengah.                                                                                                     Kalimantan.


                      39. ASET DAN LIABILITAS MONETER DALAM MATA                                                                39. MONETARY   ASSETS    AND   LIABILITIES
                          UANG ASING                                                                                                DENOMINATED IN FOREIGN CURRENCIES
                                                                31 Desember 2023/                           31 Desember 2022/                         31 Desember 2021/
                                                                December 31, 2023                           December 31, 2022                         December 31, 2021

                                                              Mata                                       Mata                                       Mata
                                                          Uang Asing                                 Uang Asing                                 Uang Asing
                                                         (nilai penuh)/                             (nilai penuh)/                             (nilai penuh)/
                                                            Foreign               Ekuivalen/           Foreign             Ekuivalen/             Foreign          Ekuivalen/
                                                           Currency               Equivalent          Currency             Equivalent            Currency          Equivalent
                                                         (full amount)              in Rp           (full amount)            in Rp             (full amount)         in Rp

                          Aset                                                                                                                                                                             Assets
                          Kas dan setara kas - dalam                                                                                                                                 Cash and cash equivalents - in
                              Dolar AS                     AS$2.735.001              42.162.786     AS$10.589.334           166.580.808        AS$98.540.058       1.406.068.094                     US Dollar
                          Piutang usaha – dalam
                              Dolar AS                   AS$18.747.847              289.016.809     AS$28.040.735           441.108.804        AS$16.825.832        240.087.802     Trade receivables – in US Dollar

                                                                                    331.179.595                             607.689.612                            1.646.155.896


                          Liabilitas                                                                                                                                                                       Liabilities
                          Utang bank - dalam Dolar AS    AS$220.070.187           3.392.602.003    AS$130.921.188          2.059.521.208       AS$67.806.349        967.528.794             Bank loan - in US Dollar
                          Uang muka dari pelanggan                                                                                                                                          Advance from customer
                          Biaya yang masih harus
                              dibayar - dalam Dolar AS                    -                    -                     -                  -           AS$9.867              140.782             Accrual - in US Dollar

                                                                                  3.392.602.003                            2.059.521.208                            967.669.576

                          Liabilitas moneter, neto                                3.061.422.408                            1.451.831.596                            678.486.320              Monetary liabilities, net



                            Apabila liabilitas neto dalam mata uang selain                                                                  If the net position of liabilities in currencies other
                            Rupiah pada tanggal 31 Desember 2023 dinyatakan                                                                 than Rupiah as of December 31, 2023, is reflected
                            dengan menggunakan kurs tengah nilai tukar mata                                                                 using the middle rates of exchange as of the
                            uang asing pada tanggal penyelesaian laporan                                                                    completion date of these consolidated financial
                            keuangan konsolidasian ini, maka liabilitas dalam                                                               statements, the net liabilities in foreign currencies
                            mata uang asing neto akan bertambah sebesar                                                                     will increase by approximately Rp75,661,776.
                            Rp75.661.776.




                                                                                                                     152




440 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 441
                                                                                The original consolidated financial statements included herein
                                                                                                              are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                                    PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                                               AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                                      Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                                  financial statements
           Tanggal 31 Desember 2023                                                           As of December 31, 2023
          dan untuk tahun yang berakhir                                                       and for year then ended
              pada tanggal tersebut                                                      (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                                      unless otherwise stated)
             kecuali dinyatakan lain)


40. TAMBAHAN INFORMASI ARUS KAS                                                40. SUPPLEMENTARY CASH FLOW INFORMATION

   Perubahan pada liabilitas yang timbul dari aktivitas                              Changes in liabilities arising from financing activities
   pendanaan pada laporan arus kas konsolidasian                                     in the consolidated cash flow statement are as
   adalah sebagai berikut:                                                           follows:
                                                                                             Selisih kurs/
                        1 Januari 2023/ Penambahan/     Pengurangan/      Biaya Pinjaman/      Foreign         31 Desember 2023/
                       January 1, 2023   (Additions)    (Repayment)       Cost of Fund        exchange         December 31, 2023

   Utang bank
      jangka pendek       973.981.690   5.483.049.559   (3.973.116.740)                 -      (46.572.983)       2.437.341.526       Short-term bank loan
   Utang bank
      jangka panjang    5.543.289.709    850.000.000     (723.079.133)          5.354.831       (11.282.169)      5.664.283.238        Long-term bank loan
   Utang obligasi         633.067.305              -     (663.250.968)            475.865        29.707.798                   -              Bond payable

   Jumlah               7.150.338.704   6.333.049.559   (5.359.446.841)         5.830.696      (28.147.354)        8.101.624.764                    Total



                                                                                             Selisih kurs/
                        1 Januari 2022/ Penambahan/     Pengurangan/      Biaya Pinjaman/      Foreign         31 Desember 2022/
                       January 1, 2022   (Additions)    (Repayment)       Cost of Fund        exchange         December 31, 2022

   Utang bank
      jangka pendek       968.978.400   3.537.120.800   (3.542.385.192)                 -        10.267.682         973.981.690       Short-term bank loan
   Utang bank
      jangka panjang    2.342.540.368   3.472.301.756     (340.308.109)         2.094.997       66.660.697        5.543.289.709        Long-term bank loan
   Utang obligasi       4.247.062.364               -   (4.024.197.724)      (28.395.833)      438.598.500          633.067.307              Bond payable

   Jumlah               7.558.581.132   7.009.422.556 (7.906.891.025)         (26.300.836)     515.526.879         7.150.338.706                    Total




41. TRANSAKSI NON-KAS                                                          41. NON-CASH TRANSACTIONS

   Berikut ini transaksi non-kas signifikan:                                         Listed below are significant non-cash transactions:

                                                        Untuk tahun yang berakhir
                                                       pada Tanggal 31 Desember/
                                                    For the years ended December 31,

                                                                                     2022
                                                                             (Disajikan kembali -
                                                                                 Catatan 4)/
                                                                                (As restated -
                                                           2023                  Note 4)

  Reklasifikasi tanaman belum                                                                          Reclassification of immature plantations
    menghasilkan ke tanaman menghasilkan                    1.862.986                1.833.245                          to mature plantations
  Reklasifikasi aset tidak lancar lainnya                                                           Reclassification of other non-current assets
    ke aset tetap                                          59.190.066              50.299.806                                  to fixed assets




                                                                       153




                                                                                                                                                                            441
                                                                                                                                  PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                                       Laporan Tahunan 2023 Annual Report
Page 442
                                                                                          The original consolidated financial statements included herein
                                                                                                                        are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                 financial statements
                                    Tanggal 31 Desember 2023                                          As of December 31, 2023
                                   dan untuk tahun yang berakhir                                      and for year then ended
                                       pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                      kecuali dinyatakan lain)


                      42. PENGUKURAN NILAI WAJAR                                        42. FAIR VALUE MEASUREMENT

                            Tabel berikut menyediakan hierarki pengukuran nilai              The following table provides the fair value
                            wajar dari aset Kelompok Usaha                                   measurement hierarchy of the Group’s assets:
                                                              Pengukuran nilai wajar pada akhir periode pelaporan menggunakan/
                                                                Fair value measurement at the end of the reporting period using
                                                                         Harga
                                                                      kuotasian       Input yang         Input yang
                                                                     dalam pasar           dapat        tidak dapat
                                                                      aktif untuk     diobservasi       diobservasi
                                                                      aset yang         lain yang            yang
                                                                        identik        sifgnifikan        signifikan
                                                                       (Level 1)/       (Level 2)/        (Level 3)/
                                                                   Quoted prices      Significant        Significant
                                                                       in active      observable       unobservable
                                                                        markets           inputs            inputs
                                                   Jumlah/Total        (Level 1)         (Level 2)         (Level 3)
                         At 31 Desember 2023                                                                              At December 31, 2023
                         Pengukuran nilai                                                                                   Recurring fair value
                         wajar                                                                                                Measurements
                          yang berulang
                         Aset biologis                268.510.895                 -       268.510.895                   -          Biological assets
                         Pinjaman jangka                                                                                       Long term convertible
                           panjang kepada                                                                                      loan to a shareholder
                           pemegang saham
                           yang dapat dikonversi      219.473.951       219.473.951                  -                  -
                                                                                                                              At December 31, 2022
                         At 31 Desember 2022
                         Pengukuran nilai                                                                                       Recurring fair value
                         wajar                                                                                                    measurements
                          yang berulang
                         Aset biologis                 225.042.572                -        225.042.572                  -           Biological assets
                         Pinjaman jangka                                                                                        Long term convertible
                           panjang kepada                                                                                       loan to a shareholder
                           pemegang saham
                           yang dapat dikonversi       160.319.303      160.319.303                      -              -

                            Tidak ada transfer antara Level 1 dan Level 2, dan               There were no transfers between Level 1 and
                            masuk atau keluar dari Level 3 selama 2023 and                   Level 2, and into or out from Level 3 during 2023 and
                            2022.                                                            2022.

                      43. STANDAR    AKUNTANSI YANG TELAH                               43. ACCOUNTING STANDARDS ISSUED BUT NOT
                          DITERBITKAN NAMUN BELUM BERLAKU                                   YET EFFECTIVE
                          EFEKTIF
                            Standar akuntansi yang telah diterbitkan sampai                  The accounting standards that have been issued up
                            tanggal penerbitan laporan keuangan konsolidasian                to the date of issuance of the Group’s consolidated
                            Kelompok Usaha namun belum berlaku efektif                       financial statements, but not yet effective are
                            diungkapkan berikut ini. Manajemen bermaksud                     disclosed below. The management intends to adopt
                            untuk menerapkan standar-standar tersebut yang                   these standards that are considered relevant to the
                            dipertimbangkan relevan terhadap Kelompok                        Group when they become effective, and the impact
                            Usaha pada saat efektif, dan dampaknya terhadap                  to the consolidated financial position and
                            posisi dan kinerja keuangan konsolidasian                        performance of the Group is still being estimated as
                            Kelompok Usaha masih diestimasi pada tanggal                     of March 27, 2024:
                            27 Maret 2024:




                                                                                  154




442 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 443
                                                            The original consolidated financial statements included herein
                                                                                          are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                 PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                            AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                   Notes to the CONSOLIDATED
                KONSOLIDASIAN                                               financial statements
          Tanggal 31 Desember 2023                                        As of December 31, 2023
         dan untuk tahun yang berakhir                                    and for year then ended
             pada tanggal tersebut                                   (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                   unless otherwise stated)
            kecuali dinyatakan lain)


43. STANDAR       AKUNTANSI YANG TELAH                      43. ACCOUNTING STANDARDS ISSUED BUT NOT
    DITERBITKAN NAMUN BELUM BERLAKU                             YET EFFECTIVE (continued)
    EFEKTIF (lanjutan)
  Mulai efektif pada atau setelah tanggal 1 Januari            Effective beginning on or after January 1, 2024
  2024
   Pilar Standar Akuntansi Keuangan                            Financial Accounting Standards Pillars

   Standar ini memberikan persyaratan dan pedoman              These standards provides requirements and
   bagi entitas untuk menerapkan standar akuntansi             guidelines for entities to apply the correct financial
   keuangan yang benar dalam menyusun laporan                  accounting standards in preparing general purpose
   keuangan bertujuan umum. Akan ada 4 (empat)                 financial statements. There will be 4 (four) financial
   standar akuntansi keuangan yang saat ini diterapkan         accounting standards that are currently applied in
   di Indonesia, yaitu:                                        Indonesia, namely:
   1. Pilar     1    Standar     Akuntansi  Keuangan            1. Pillar 1 International Financial Accounting
        Internasional,                                              Standards,
   2. Pilar 2 Standar Akuntansi Keuangan Indonesia              2. Pillar 2 Indonesian Financial Accounting
        (“PSAK”),                                                   Standards (“PSAK”),
   3. Pilar 3 Standar Akuntansi Keuangan Indonesia              3. Pillar 3 Indonesian Financial Accounting
        untuk Entitas Swasta/Standar Akuntansi                      Standards for Private Entities/Indonesian
        Keuangan Indonesia untuk Entitas Tanpa                      Financial Accounting Standards for Entities
        Akuntabilitas Publik, dan                                   without Public Accountability, and
   4. Pilar 4 Standar Akuntansi Keuangan Indonesia              4. Pillar 4 Indonesian Financial Accounting
        untuk Entitas Mikro Kecil dan Menengah.                     Standards for Micro Small and Medium Entities.
   Standar Akuntansi Keuangan Internasional                    International Financial Accounting Standard

   Standar ini merupakan adopsi penuh dari                     This standard is a full-adoption of International
   International Financial Reporting Standards (“IFRS”)        Financial Reporting Standards (“IFRS”) which is
   yang diterjemahkan kata demi kata dan tidak ada             translated in a word-for-word basis and there is no
   modifikasi dari Standar IFRS, termasuk tanggal              modifications from IFRS Standards, including the
   efektifnya. Entitas yang memenuhi persyaratan dapat         effective date. Entities that meet the requirements
   menerapkan standar ini, sejak tanggal efektif.              can apply this standard, from the effective date.
   Nomenklatur Standar Akuntansi Keuangan                      Financial Accounting Standards Nomenclature
   Standar ini ini mengatur penomoran baru untuk               This standard regulates the new numbering for
   standar akuntansi keuangan yang berlaku di                  financial accounting standards applicable in
   Indonesia yang diterbitkan oleh DSAK IAI.                   Indonesia issued by DSAK IAI.

    Amandemen PSAK 1: Liabilitas Jangka Panjang                Amendment of PSAK 1: Non-current Liabilities with
    dengan Kovenan                                             Covenants
    Amandemen ini menentukan persyaratan untuk                 The amendments specify the requirements for
    mengklasifikasikan suatu liabilitas sebagai jangka         classifying liabilities as current or non-current and
    pendek atau jangka panjang dan menjelaskan:                clarify:
     hal yang dimaksud sebagai hak untuk                        what is meant by a right to defer settlement,
       menangguhkan pelunasan,
     hak untuk menangguhkan pelunasan harus ada                     the right to defer must exist at the end of the
       pada akhir periode pelaporan,                                 reporting period,
     klasifikasi tersebut tidak dipengaruhi oleh                   classification is not affected by the likelihood
       kemungkinan entitas akan menggunakan hak                      that an entity will exercise its deferral right, and
       untuk menangguhkan liabilitas, dan
     hanya jika derivatif melekat pada liabilitas                  only if an embedded derivative in a convertible
       konversi tersebut adalah suatu instrumen                      liability is an equity instrument would the terms
       ekuitas, maka syarat dan ketentuan dari suatu                 and conditions of a liability will not impact its
       liabilitas konversi tidak akan berdampak pada                 classification.
       klasifikasinya.



                                                      155




                                                                                                                                             443
                                                                                                  PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                        Laporan Tahunan 2023 Annual Report
Page 444
                                                                                     The original consolidated financial statements included herein
                                                                                                                   are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                              PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                         AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                            financial statements
                                    Tanggal 31 Desember 2023                                     As of December 31, 2023
                                   dan untuk tahun yang berakhir                                 and for year then ended
                                       pada tanggal tersebut                                (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                unless otherwise stated)
                                      kecuali dinyatakan lain)


                      43. STANDAR       AKUNTANSI YANG TELAH                         43. ACCOUNTING STANDARDS ISSUED BUT NOT
                          DITERBITKAN NAMUN BELUM BERLAKU                                YET EFFECTIVE (continued)
                          EFEKTIF (lanjutan)
                           Mulai efektif pada atau setelah tanggal 1 Januari            Effective beginning on or after January 1, 2024
                           2024 (lanjutan)                                              (continued)
                             Amandemen PSAK 1: Liabilitas Jangka Panjang                Amendment of PSAK 1: Non-current Liabilities with
                             dengan Kovenan (lanjutan)                                  Covenants (continued)
                             Selain itu, persyaratan telah diperkenalkan untuk          In addition, a requirement has been introduced to
                             mewajibkan pengungkapan ketika suatu kewajiban             require disclosure when a liability arising from a loan
                             timbul dari pinjaman perjanjian diklasifikasikan           agreement is classified as non-current and the
                             sebagai tidak lancar dan hak entitas untuk menunda         entity’s right to defer settlement is contingent on
                             penyelesaian bergantung pada kepatuhan terhadap            compliance with future covenants within twelve
                             persyaratan di masa depan dalam waktu dua belas            months.
                             bulan.
                             Amendemen tersebut berlaku efektif untuk periode           The amendments are effective for annual reporting
                             pelaporan tahunan yang dimulai pada atau setelah           periods beginning on or after January 1, 2024
                             1 Januari 2024 secara retrospektif dengan                  retrospectively with early adoption permitted.
                             penerapan dini diperkenankan.
                             Kelompok Usaha saat ini sedang menilai dampak              The Group is currently assessing the impact of the
                             dari amandemen tersebut untuk menentukan                   amendment to determine the impact they will have
                             dampaknya    terhadap    pelaporan   keuangan              on the Group’s financial reporting.
                             kelompok usaha.
                             Amandemen PSAK 73: Liabilitas Sewa dalam Jual              Amendment of PSAK 73: Lease liability in a Sale
                             Beli dan Sewa-balik                                        and Leaseback

                             Amandemen PSAK 73 Sewa menetapkan                          The amendment to PSAK 73 Leases specifies the
                             persyaratan yang digunakan penjual-penyewa                 requirements that a seller-lessee uses in measuring
                             dalam mengukur kewajiban sewa yang timbul dalam            the lease liability arising in a sale and leaseback
                             transaksi jual beli dan sewa-balik, untuk                  transaction, to ensure the seller-lessee does not
                             memastikan penjual-penyewa tidak mengakui                  recognise any amount of the gain or loss that relates
                             jumlah setiap keuntungan atau kerugian yang terkait        to the right of use it retains.
                             dengan hak guna yang dipertahankan.
                             Amandemen berlaku secara retrospektif untuk                The amendment applies retrospectively to annual
                             periode pelaporan tahunan yang dimulai pada atau           reporting periods beginning on or after January 1,
                             setelah 1 Januari 2024. Penerapan dini                     2024. Earlier application is permitted. The Group is
                             diperkenankan. Kelompok Usaha saat ini sedang              currently assessing the impact of the amendment to
                             menilai dampak dari amandemen tersebut untuk               determine the impact they will have on the Group’s
                             menentukan dampaknya terhadap pelaporan                    financial reporting.
                             keuangan Kelompok Usaha.




                                                                               156




444 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 445
                                                             The original consolidated financial statements included herein
                                                                                           are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                           AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                  Notes to the CONSOLIDATED
                KONSOLIDASIAN                                              financial statements
          Tanggal 31 Desember 2023                                       As of December 31, 2023
         dan untuk tahun yang berakhir                                   and for year then ended
             pada tanggal tersebut                                  (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                  unless otherwise stated)
            kecuali dinyatakan lain)


43. STANDAR       AKUNTANSI YANG TELAH                       43. ACCOUNTING STANDARDS ISSUED BUT NOT
    DITERBITKAN NAMUN BELUM BERLAKU                              YET EFFECTIVE (continued)
    EFEKTIF (lanjutan)
  Mulai efektif pada atau setelah tanggal 1 Januari             Effective beginning on or after January 1, 2024
  2024 (lanjutan)                                               (continued)
  Amandemen PSAK 2 dan PSAK 60: Pengaturan                      Amendment of PSAK 2 and PSAK 60: Supplier
  Pembiayaan Pemasok                                            Finance Arrangements

  Amandemen PSAK 2 dan PSAK 60 mengklarifikasi                  The amendments to PSAK 2 and PSAK 60 clarify
  karakteristik pengaturan pembiayaan pemasok dan               the characteristics of supplier finance arrangements
  mensyaratkan pengungkapan tambahan atas                       and require additional disclosure of such
  pengaturan      pembiayaan      pemasok      tersebut.        arrangements. The disclosure requirements in the
  Persyaratan pengungkapan dalam amandemen ini                  amendments are intended to assist users of
  dimaksudkan untuk membantu pengguna laporan                   financial statements in understanding the effects of
  keuangan dalam memahami dampak pengaturan                     supplier finance arrangements on an entity’s
  pembiayaan pemasok terhadap liabilitas, arus kas,             liabilities, cash flows and exposure to liquidity risk.
  dan eksposur terhadap risiko likuiditas suatu entitas.

  Amandemen ini akan berlaku efektif untuk periode              The amendments will be effective for annual
  pelaporan tahunan yang dimulai pada atau setelah              reporting periods beginning on or after January 1,
  1 Januari 2024. Penerapan dini diperkenankan,                 2024. Early adoption is permitted, but will need to be
  namun perlu diungkapkan. Amandemen tersebut                   disclosed.The amendments are not expected to
  diperkirakan tidak mempunyai dampak material                  have a material impact on the Group’s consolidated
  terhadap laporan keuangan konsolidasian Kelompok              financial statements.
  Usaha.
  Mulai efektif pada atau setelah tanggal 1 Januari             Effective beginning on or after January 1, 2025
  2025

   PSAK 74: Kontrak Asuransi                                    PSAK 74: Insurance Contracts

   Standar akuntansi baru yang komprehensif untuk               A comprehensive new accounting standard for
   kontrak asuransi yang mencakup pengakuan dan                 insurance contracts covering recognition and
   pengukuran, penyajian dan pengungkapan, pada                 measurement, presentation and disclosure, upon its
   saat berlaku efektif PSAK 74 akan menggantikan               effective date, PSAK 74 will replace PSAK 62:
   PSAK 62: Kontrak Asuransi. PSAK 74 berlaku untuk             Insurance Contracts. PSAK 74 applies to all types of
   semua jenis kontrak asuransi, jiwa, non-jiwa,                insurance contracts, life, non-life, direct insurance
   asuransi langsung dan reasuransi, terlepas dari              and re-insurance, regardless of the entities issuing
   entitas yang menerbitkannya, serta untuk jaminan             them, as well as to certain guarantees and financial
   dan instrumen keuangan tertentu dengan fitur                 instruments with discretionary participation features,
   partisipasi tidak mengikat, serta beberapa                   while a few scope exceptions will apply. The overall
   pengecualian ruang lingkup akan berlaku. Tujuan              objective of PSAK 74 is to provide an accounting
   keseluruhan dari PSAK 74 adalah untuk                        model for insurance contracts that is more useful
   menyediakan model akuntansi untuk kontrak                    and consistent for insurers.
   asuransi yang lebih bermanfaat dan konsisten untuk
   asuradur.

   PSAK 74 berlaku efektif untuk periode pelaporan              PSAK 74 is effective for reporting periods beginning
   yang dimulai pada atau setelah tanggal 1 Januari             on or after January 1, 2025, with comparative figures
   2025, dengan mensyaratkan angka komparatif.                  required. Early application is permitted, provided the
   Penerapan dini diperkenankan bila entitas juga               entity also applies PSAK 71 and PSAK 72 on or
   menerapkan PSAK 71 dan PSAK 72 pada atau                     before the date of initial application of PSAK 74. This
   sebelum tanggal penerapan awal PSAK 74. Standar              standard is not expected to have any impact to the
   ini tidak diharapkan memiliki dampak pada pelaporan          financial reporting of the Group upon first-time
   keuangan Kelompok Usaha pada saat diadopsi untuk             adoption.
   pertama kali.



                                                       157




                                                                                                                                              445
                                                                                                   PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                         Laporan Tahunan 2023 Annual Report
Page 446
                                                                                         The original consolidated financial statements included herein
                                                                                                                       are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                financial statements
                                    Tanggal 31 Desember 2023                                         As of December 31, 2023
                                   dan untuk tahun yang berakhir                                     and for year then ended
                                       pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
                                      kecuali dinyatakan lain)


                      44. PERISTIWA SETELAH TANGGAL NERACA                               44. SUBSEQUENT EVENTS

                            Pada awal tahun 2024, beberapa entitas anak                     In early 2024, certain subsidiaries of the Company
                            Perseroan memberikan penjaminan atas fasilitas dari             provided guarantees for banking facilities obtained
                            perbankan yang diperoleh beberapa kelompok tani                 by several farmer groups ("Cooperative/Plasma")
                            ("Koperasi/Plasma") dengan jumlah keseluruhan                   with a total amount of Rp221,008,874. Beside
                            sebesar Rp221.008.874. Selain jaminan dari                      guarantees from certain subsidiaries, these facilities
                            beberapa entitas anak, fasilitas tersebut juga dijamin          are also guaranteed with the oil palm plantations
                            dengan kebun kelapa sawit milik masing-masing                   owned by each Cooperative.
                            Koperasi.


                      45. INFORMASI KEUANGAN ENTITAS INDUK                               45. FINANCIAL INFORMATION OF PARENT ENTITY
                            Berikut ini adalah Informasi Keuangan terpisah PT                The following is separate PT Sawit Sumbermas
                            Sawit Sumbermas Sarana Tbk. (Entitas Induk),                     Sarana Tbk. (the Parent Entity)’s Financial
                            terdiri dari laporan posisi keuangan Entitas Induk               Information, consisting of the statement of financial
                            pada tanggal 31 Desember 2023 dan laporan laba                   position of the Parent Entity as of December 31,
                            rugi dan penghasilan komprehensif lain, laporan                  2023 and statements of profit or loss and other
                            perubahan ekuitas dan arus kas Entitas Induk terkait             comprehensive income, changes in equity and cash
                            untuk tahun yang berakhir 31 Desember 2023 dan                   flows of the Parent Entity for the year ended
                            ikhtisar kebijakan akuntansi signifikan. Informasi               December 31, 2023 and a summary of significant
                            Keuangan Entitas Induk disajikan sebagai informasi               accounting policies. The Parent Entity’s Financial
                            tambahan        terhadap      laporan    keuangan                Information is presented as supplementary
                            konsolidasian Kelompok Usaha pada tanggal                        information to the consolidated financial statements
                            31 Desember 2023 dan untuk tahun yang berakhir                   of the Group as of December 31, 2023 and for the
                            pada tanggal tersebut. Informasi keuangan terpisah               year then ended. The seperate financial information
                            tidak mencerminkan dampak metode penyatuan                       does not reflect the impact of pooling-of-interests
                            kepemilikan sebagaimana dipersyaratkan dalam                     method as set out in PSAK 38.
                            PSAK 38.




                                                                                   158




446 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 447
                                                                    The original consolidated financial statements included herein
                                                                                                  are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                                 AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                        Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                    financial statements
           Tanggal 31 Desember 2023                                             As of December 31, 2023
          dan untuk tahun yang berakhir                                         and for year then ended
              pada tanggal tersebut                                        (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                        unless otherwise stated)
             kecuali dinyatakan lain)


45. INFORMASI        KEUANGAN         ENTITAS      INDUK            45. FINANCIAL INFORMATION OF PARENT ENTITY
    (lanjutan)                                                          (continued)

      PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
          LAPORAN POSISI KEUANGAN                                                  STATEMENT OF
               ENTITAS INDUK                                              FINANCIAL POSITION OF THE PARENT
                                              31 Desember/         31 Desember/
                                           December 31, 2023     December 31, 2022
   ASET                                                                                                                ASSETS
   ASET LANCAR                                                                                            CURRENT ASSETS
   Kas dan setara kas                              33.775.021         419.261.203                   Cash and cash equivalents
   Piutang usaha                                                                                             Trade receivables
     Pihak berelasi                               260.535.089         293.654.422                            Related parties
   Piutang lain-lain                                                                                          Other receivables
     Pihak berelasi                               539.239.958         614.918.862                            Related parties
     Pihak ketiga                                     715.519           6.826.490                               Third parties
   Persediaan                                      52.905.066         159.513.172                                    Inventories
   Aset biologis                                   76.217.269          64.452.324                              Biological assets
   Pinjaman kepada pihak berelasi                  39.749.980         100.035.989                       Loans to related parties
   Biaya dibayar dimuka                             1.117.792             924.659                                  Prepayments
   Uang muka kepada pihak ketiga                    2.604.817           4.231.274                      Advance to third parties
   Pajak dibayar dimuka                            15.511.058          15.708.181                                 Prepaid taxes
   Taksiran tagihan restitusi pajak                                                               Estimated claim for tax refund
     Jangka pendek                                    692.538                     -                                   current
   JUMLAH ASET LANCAR                           1.023.064.107        1.679.526.576                 TOTAL CURRENT ASSETS

   ASET TIDAK LANCAR                                                                                  NON-CURRENT ASSETS
   Taksiran tagihan restitusi pajak                102.231.098          57.424.255              Estimated claims for tax refund
   Piutang lain-lain jangka panjang                                                                Long-term other receivables
     kepada pihak berelasi                                                                                 to related parties
   Aset tetap dan tanaman produktif                663.763.705        607.564.806               Fixed assets and bearer plants
   Aset tak berwujud, neto                           1.947.578          3.437.439                         Intangible assets, net
   Aset hak guna, neto                              49.840.672         17.415.656                        Right of use asset, net
   Pinjaman jangka panjang                                                                        Long-term convertible loan to
     kepada pihak berelasi yang dapat dikonversi   219.473.951       3.611.628.886                            a related party
   Investasi saham                               5.278.273.874       1.826.964.291                Investment in shares of stock
   Aset pajak tangguhan, neto                       55.051.527          35.760.237                      Deferred tax assets, net
   Piutang plasma                                                                                           Plasma receivables
     Setelah dikurangi dengan                                                                               after net off with
     penyisihan penurunan nilai                                                                    allowance for impairment
     2023: Rp8.661.991 (2022: RpNihil)              50.727.353          49.809.321         2023: Rp8,661,991 (2022: RpNil)
   Aset tidak lancar lainnya                        20.880.839          57.330.390                     Other non-current assets
   JUMLAH ASET TIDAK LANCAR                     6.442.190.597        6.267.335.281            TOTALNON-CURRENT ASSETS
   JUMLAH ASET                                  7.465.254.704        7.946.861.857                             TOTAL ASSETS




                                                           159




                                                                                                                                                     447
                                                                                                          PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                Laporan Tahunan 2023 Annual Report
Page 448
                                                                                      The original consolidated financial statements included herein
                                                                                                                    are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                               PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                          AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                 Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                             financial statements
                                    Tanggal 31 Desember 2023                                      As of December 31, 2023
                                   dan untuk tahun yang berakhir                                  and for year then ended
                                       pada tanggal tersebut                                 (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                 unless otherwise stated)
                                      kecuali dinyatakan lain)


                      45. INFORMASI         KEUANGAN     ENTITAS    INDUK           45. FINANCIAL INFORMATION OF PARENT ENTITY
                          (lanjutan)                                                    (continued)

                               PT SAWIT SUMBERMAS SARANA Tbk.                               PT SAWIT SUMBERMAS SARANA Tbk.
                                   LAPORAN POSISI KEUANGAN                                           STATEMENT OF
                                   ENTITAS INDUK (LANJUTAN)                                 FINANCIAL POSITION OF THE PARENT
                                                                                                       (CONTINUED)
                                                                31 Desember/         31 Desember/
                                                             December 31, 2023     December 31, 2022
                     LIABILITAS DAN EKUITAS                                                                           LIABILITIES AND EQUITY
                     LIABILITAS JANGKA PENDEK                                                                           CURRENT LIABILITIES
                     Utang usaha                                                                                                   Trade payables
                        Pihak ketiga                                 13.815.882            6.715.819                              Third parties
                        Pihak berelasi                              159.973.783           60.092.640                           Related parties
                     Utang pajak                                      5.245.567            8.408.632                                Taxes payable
                     Beban akrual                                    27.150.737           33.078.615                           Accrued expenses
                     Utang lain-lain                                                                                               Other payables
                        Pihak ketiga                                181.044.650         288.643.661                               Third parties
                        Pihak berelasi                              750.275.997         696.708.624                            Related parties
                     Pendapatan diterima di muka                      2.000.000                   -                            Unearned revenue
                     Liabilitas sewa jangka pendek                   10.271.747           1.207.710                    Short-term lease liabilities
                     Liabilitas imbalan kerja                                                                        Short-term employee benefit
                        karyawan jangka pendek                       48.746.650           61.771.585                                  liabilities
                     Liabilitas sewa pembiayaan                                                                      Current maturities of finance
                        jatuh tempo dalam satu tahun                                                -                           lease liabilities
                     Utang bank jangka pendek                        43.139.886                     -                        Short-term bank loan
                     Utang bank jangka panjang                                                                                Current maturities of
                        jatuh tempo dalam satu tahun                437.500.864         513.862.495                       long-term bank loan
                     Utang sewa pembiayaan konsumen                                                                      Consumer finance lease
                        jatuh tempo dalam satu tahun                    399.347                     -                                 liabilities
                     Pinjaman jangka pendek                                                                                        Short-term loan
                        dari pihak berelasi                         982.625.051                     -                      from related parties
                     JUMLAH LIABILITAS
                       JANGKA PENDEK                               2.662.190.161       1.670.489.781             TOTAL CURRENT LIABILITIES

                     LIABILITAS JANGKA PANJANG                                                                     NON-CURRENT LIABILITIES
                     Utang bank jangka panjang -
                        setelah dikurangi bagian jatuh                                                                    Long-term bank loan
                        tempo dalam satu tahun                     2.950.729.030       3.031.229.068                   net of current maturities
                     Liabilitas sewa jangka panjang                   31.769.387          10.120.456                    Long-term lease liabilities
                     Utang lain-lain pihak berelasi                                                                            Long-term loan from
                        jangka panjang                              308.840.804        1.018.517.471                             a related party
                     Liabilitas imbalan kerja                                                                         Long-term employee benefit
                        karyawan jangka panjang                      72.815.596           60.368.568                                    liabilites
                     JUMLAH LIABILITAS                                                                                   TOTAL NON-CURRENT
                       JANGKA PANJANG                              3.364.154.817       4.120.235.563                             LIABILITIES
                     JUMLAH LIABILITAS                             6.026.344.978       5.790.725.344                         TOTAL LIABILITIES




                                                                             160




448 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 449
                                                                   The original consolidated financial statements included herein
                                                                                                 are in the Indonesian language.

        PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
              DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
           Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                   KONSOLIDASIAN                                                 financial statements
             Tanggal 31 Desember 2023                                          As of December 31, 2023
            dan untuk tahun yang berakhir                                      and for year then ended
                pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
           (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
               kecuali dinyatakan lain)


 45. INFORMASI       KEUANGAN       ENTITAS     INDUK            45. FINANCIAL INFORMATION OF PARENT ENTITY
     (lanjutan)                                                      (continued)

        PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
            LAPORAN POSISI KEUANGAN                                               STATEMENT OF
            ENTITAS INDUK (LANJUTAN)                                     FINANCIAL POSITION OF THE PARENT
                                                                                    (CONTINUED)
                                           31 Desember/           31 Desember/
                                        December 31, 2023       December 31, 2022

EKUITAS                                                                                                                 EQUITY
Ekuitas yang dapat                                                                                        Equity attributable to
  diatribusikan kepada                                                                                    owners equity of
  pemilik entitas induk                                                                                    the parent entity
Modal saham                                                                                                       Share capital
  Modal dasar - 32.100.000.000                                                                                 Authorized -
     lembar saham                                                                                  32,100,000,000 shares
     nilai nominal Rp100                                                                          at par value per share of
     (nilai penuh) per saham                                                                           Rp100 (full amount)
  Modal ditempatkan dan disetor                                                                      Issued and fully paid -
     penuh - 9.525.000.000 lembar                                                                            9,525,000,000
     saham                                      952.500.000          952.500.000                                      shares
Tambahan modal disetor                          818.560.115          818.560.115                      Additional paid-in capital
Saldo laba                                                                                                   Retained earnings
  Sudah ditentukan penggunaannya               1.340.160.714          970.536.918                             Appropriated
  Belum ditentukan penggunaannya              (1.416.704.628)        (324.717.467)                          Unappropriated
Penghasilan komprehensif lain                     54.013.162           48.876.584                Other comprehensive income
Komponen ekuitas lainnya                        (309.619.637)        (309.619.637)                     Other equity component
JUMLAH EKUITAS                                1.438.909.726         2.156.136.513                             TOTAL EQUITY
JUMLAH LIABILITAS                                                                                         TOTAL LIABILITIES
  DAN EKUITAS                                 7.465.254.704         7.946.861.857                           AND EQUITY




                                                         161




                                                                                                                                                    449
                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 450
                                                                                           The original consolidated financial statements included herein
                                                                                                                          are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                 AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                        Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                    financial statements
                                    Tanggal 31 Desember 2023                                             As of December 31, 2023
                                   dan untuk tahun yang berakhir                                         and for year then ended
                                       pada tanggal tersebut                                        (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                        unless otherwise stated)
                                      kecuali dinyatakan lain)


                      45. INFORMASI         KEUANGAN          ENTITAS     INDUK            45. FINANCIAL INFORMATION OF PARENT ENTITY
                          (lanjutan)                                                           (continued)

                             PT SAWIT SUMBERMAS SARANA Tbk.                                      PT SAWIT SUMBERMAS SARANA Tbk.
                           LAPORAN LABA RUGI DAN PENGHASILAN                                  STATEMENT OF PROFIT OR LOSS AND OTHER
                             KOMPREHENSIF LAIN ENTITAS INDUK                                   COMPREHENSIVE INCOME OF THE PARENT


                                                                     31 Desember/           31 Desember/
                                                                  December 31, 2023       December 31, 2022


                     PENJUALAN                                          1.504.887.883        1.942.979.487                                       SALES

                     BEBAN POKOK PENJUALAN                              (1.056.336.269)       (964.756.502)                           COST OF SALES

                     LABA BRUTO                                           448.551.614          978.222.985                             GROSS PROFIT

                     Beban penjualan                                      (24.122.603)         (62.851.821)                              Selling expenses
                     Beban umum dan administrasi                         (400.777.490)        (424.079.253)        General and administrative expenses
                     Keuntungan/(kerugian) atas nilai wajar                                                                     Gain/(loss) from changes
                       aset biologis                                       11.764.945          (57.200.672)          in fair value of biological assets
                     Pendapatan lain-lain, neto                           106.697.174          172.550.230                              Other income, net

                     LABA USAHA                                           142.113.640          606.641.469                        OPERATING PROFIT

                     Pendapatan keuangan                                  300.808.539          317.714.368                              Finance income
                     Beban keuangan                                      (462.404.499)        (422.032.443)                               Finance costs

                                                                         (161.595.960)        (104.318.075)

                     (RUGI)/LABA SEBELUM PAJAK                                                                             (LOSS)/PROFIT BEFORE
                       PENGHASILAN BADAN                                  (19.482.320)         502.323.394             CORPORATE INCOME TAX

                     BEBAN PAJAK                                                                                                      CORPORATE
                       PENGHASILAN BADAN                                    8.064.955          (42.314.062)                INCOME TAX EXPENSE

                     (RUGI)/LABA TAHUN BERJALAN                           (11.417.365)         460.009.332            (LOSS)/PROFIT FOR THE YEAR

                     PENGHASILAN/(KERUGIAN) KOMPREHENSIF                                                         OTHER COMPREHENSIVE INCOME/
                       LAIN, SETELAH PAJAK                                  5.136.578          (11.270.633)              (LOSS), NET OF TAX


                     TOTAL (RUGI)/LABA KOMPREHENSIF                                                                        TOTAL COMPREHENSIVE
                       TAHUN BERJALAN                                       (6.280.787)        448.738.699        (LOSS)/INCOME FOR THE YEAR




                                                                                   162




450 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 451
                                                                                                                                                                                             The original consolidated financial statements included herein are in the Indonesian language.




                                                                                                    PT SAWIT SUMBERMAS SARANA Tbk.                                                                                     PT SAWIT SUMBERMAS SARANA Tbk.
                                                                                                           DAN ENTITAS ANAKNYA                                                                                               AND ITS SUBSIDIARIES
                                                                                                    CATATAN ATAS LAPORAN KEUANGAN                                                                                         NOTES TO THE CONSOLIDATED
                                                                                                               KONSOLIDASIAN                                                                                                FINANCIAL STATEMENTS
                                                                                                          Tanggal 31 Desember 2023                                                                                           As of December 31, 2023
                                                                                                        dan untuk tahun yang berakhir                                                                                        and for year then ended
                                                                                                            pada tanggal tersebut                                                                                       (Expressed in thousands of Rupiah,
                                                                                                       (Disajikan dalam ribuan Rupiah,                                                                                       unless otherwise stated)
                                                                                                            kecuali dinyatakan lain)


                                                                       45. INFORMASI KEUANGAN ENTITAS INDUK (lanjutan)                                                                       45. FINANCIAL INFORMATION OF PARENT ENTITY (continued)


                                                                                                                                                  PT SAWIT SUMBERMAS SARANA Tbk.
                                                                                                                                              LAPORAN PERUBAHAN EKUITAS ENTITAS INDUK/
                                                                                                                                         STATEMENT OF CHANGES IN EQUITY OF THE PARENT ENTITY

                                                                                                                Modal
                                                                                                          ditempatkan dan                               Penghasilan       Komponen                 Saldo laba/Retained earnings
                                                                                                           disetor penuh/        Tambahan              komprehensif          ekuitas
                                                                                                             Issued and         modal disetor/           lain/Other         lainnya/              Ditentukan         Belum ditentukan
                                                                                                              fully paid          Additional          comprehensive       Other equity          penggunaannya/       penggunaannya/        Total/
                                                                                                            Share capital       paid-in capital            income         component              appropriated         unappropriated       Total

                                                                      Saldo 31 Desember 2021                   952.500.000          818.560.115            60.147.217       (309.619.637 )           665.162.743          995.068.369     3.181.818.807              Balance at December 31, 2021

                                                                      Rugi komprehensif lain                                -                     -        (11.270.633)                  -                       -                   -      (11.270.633)                Other comprehensive losses

                                                                      Cadangan umum                                         -                     -                   -                  -           305.374.175          (305.374.175)                -                          General reserves

                                                                      Pembagian dividen                                     -                     -                   -                  -                       -      (1.474.420.993)   (1.474.420.993)                      Dividend distribution

                                                                      Total laba tahun yang berakhir                                                                                                                                                                   Total profit for the year ended
                                                                         pada tanggal 31 Desember 2022                      -                     -                   -                  -                       -        460.009.332       460.009.332                       December 31, 2022

                                                                      Saldo 31 Desember 2022                   952.500.000          818.560.115            48.876.584       (309.619.637 )           970.536.918          (324.717.467)   2.156.136.513              Balance at December 31, 2022

                                                                      Laba komprehensif lain                                -                     -         5.136.578                    -                       -                   -        5.136.578                Other comprehensive income

                                                                      Cadangan umum                                         -                     -                   -                  -           369.623.796          (369.623.796)                -                          General reserves

                                                                      Pembagian dividen                                     -                     -                   -                  -                       -        (710.946.000)    (710.946.000)                       Dividend distribution

                                                                      Total laba tahun yang berakhir                                                                                                                                                                   Total profit for the year ended
                                                                         pada tanggal 31 Desember 2023                      -                     -                   -                  -                       -         (11.417.365)     (11.417.365)                      December 31, 2023

                                                                      Saldo 31 Desember 2023                   952.500.000          818.560.115            54.013.162       (309.619.637 )         1.340.160.714        (1.416.704.628)   1.438.909.726              Balance at December 31, 2023




                                                                                                                                                                                163




Laporan Tahunan 2023 Annual Report
                                     PT SAWIT SUMBERMAS SARANA TBK.
           451
Page 452
                                                                                          The original consolidated financial statements included herein
                                                                                                                         are in the Indonesian language

                               PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                 financial statements
                                    Tanggal 31 Desember 2023                                          As of December 31, 2023
                                   dan untuk tahun yang berakhir                                      and for year then ended
                                       pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                      kecuali dinyatakan lain)


                      45. INFORMASI        KEUANGAN           ENTITAS    INDUK           45. FINANCIAL INFORMATION OF PARENT ENTITY
                          (lanjutan)                                                         (continued)
                               PT SAWIT SUMBERMAS SARANA Tbk.                                 PT SAWIT SUMBERMAS SARANA Tbk.
                               LAPORAN ARUS KAS ENTITAS INDUK                             STATEMENT OF CASH FLOWS OF THE PARENT

                                                                            Tahun yang Berakhir
                                                                         pada Tanggal 31 Desember/
                                                                         Years Ended December 31,

                                                                          2023               2022

                     ARUS KAS DARI AKTIVITAS                                                                                  CASH FLOWS FROM
                     OPERASI :                                                                                           OPERATING ACTIVITIES :
                     Penerimaan kas dari pelanggan                      1.540.007.216      1.988.671.457               Cash received from customers
                     Pembayaran kas kepada pemasok                       (805.022.418)    (1.144.310.733)                     Cash paid to suppliers
                     Pembayaran kas kepada karyawan                      (331.125.076)      (395.349.129)                    Cash paid to employees

                     Kas yang dihasilkan dari operasi                    403.859.722         449.011.595               Cash resulting from operations
                     Penghasilan bunga yang diterima                      68.103.384           4.866.009                    Interest income received
                     Pembayaran pajak penghasilan badan                  (77.616.634)       (158.538.683)           Payments of corporate income tax
                     Penerimaan dari restitusi pajak                                                                Cash resulting from tax restitution
                       dan imbalan bunga                                   89.373.490         39.593.441                and tax interest rewards
                     Beban keuangan yang dibayar                         (455.109.749)      (422.020.655)                           Finance cost paid

                     Kas neto yang diperoleh dari/                                                                             Net cash provided by/
                       (digunakan untuk)                                                                                                (used in)
                       aktivitas operasi                                  28.610.213          (87.088.293)                    operating activities
                     ARUS KAS DARI                                                                                             CASH FLOWS FROM
                     AKTIVITAS INVESTASI :                                                                                INVESTING ACTIVITIES :
                     Pemberian dana                                                                                                      Cash paid to
                       dari pihak berelasi, neto                         (425.282.360)      (266.853.847)                      related parties, net
                     Perolehan aset tetap                                (134.211.643)       (69.796.628)                 Acquisitions of fixed assets
                     Pembayaran kembali dari pihak berelasi               659.118.876        988.389.734              Repayment from related parties
                     Penambahan biaya pengembangan                                                                      Addition development cost of
                       plasma                                             (17.166.866)        (14.216.141)                                  plasma
                     Penerimaan dari pembiayaan kembali                                                                 Cash receipt from refinancing
                       plasma                                             10.006.074            8.203.878                                   plasma
                     Pembayaran uang muka atas                                                                       Advance payment of purchase of
                       pembelian aset tetap                                (2.165.441)        (45.915.790)                             fixed asset
                     Kas neto yang diperoleh dari/                                                                            Net cash provided by/
                       (digunakan untuk)                                                                                                (used in)
                       aktivitas investasi                                90.298.640         599.811.206                      investing activities
                     ARUS KAS DARI                                                                                            CASH FLOWS FROM
                     AKTIVITAS PENDANAAN :                                                                                FINANCING ACTIVITIES :
                     Penerimaan/(pembayaran) kas                                                                        Cash received/(paid to) from
                       dari pihak berelasi                                326.515.757     (3.607.678.562)                         related parties
                     Penerimaan utang bank, neto                           43.139.886      3.513.942.700             Cash received for bank loan, net
                     Pembayaran utang bank, neto                         (160.854.826)       (59.834.567)               Cash paid for bank loan, net
                     Pembayaran dividen                                  (710.946.000)    (1.474.420.993)                      Payments of dividend
                     Pembayaran utang sewa pembiayaan                      (2.249.852)       (11.709.020)             Repayments of lease liabilities
                     Kas neto yang digunakan untuk                                                                                 Net cash used in
                       aktivitas pendanaan                               (504.395.035)    (1.639.700.442)                     financing activities

                     PENURUNAN NETO                                                                                           NET DECREASE
                       KAS DAN SETARA KAS                                (385.486.182)    (1.126.977.529)      CASH AND CASH EQUIVALENTS

                     KAS DAN SETARA KAS                                                                             CASH AND CASH EQUIVALENT
                       AWAL TAHUN                                        419.261.203       1.546.238.732              AT BEGINNING OF YEAR

                     KAS DAN SETARA KAS                                                                           CASH AND CASH EQUIVALENTS
                       AKHIR TAHUN                                        33.775.021         419.261.203                   AT END OF YEAR



                                                                                   164




452 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 453
                                                                The original consolidated financial statements included herein
                                                                                               are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                  PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                             AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                    Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                financial statements
           Tanggal 31 Desember 2023                                         As of December 31, 2023
          dan untuk tahun yang berakhir                                     and for year then ended
              pada tanggal tersebut                                    (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                    unless otherwise stated)
             kecuali dinyatakan lain)


45. INFORMASI     KEUANGAN        ENTITAS     INDUK             45. FINANCIAL INFORMATION OF PARENT ENTITY
    (lanjutan)                                                      (continued)

     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
              ENTITAS INDUK                                                OF THE PARENT ENTITY

A. IKHTISAR KEBIJAKAN           AKUNTANSI       YANG            A. SUMMARY         OF    SIGNIFICANT        ACCOUNTING
   SIGNIFIKAN                                                      POLICIES

   Dasar penyusunan informasi keuangan entitas                     Basis of preparation of the parent entity
   induk                                                           financial information

   PSAK 4 mengatur dalam hal Entitas Induk memilih                 PSAK 4 regulates that when a Parent Entity elected
   untuk menyajikan laporan keuangan tersendiri maka               to present the separate financial statements, such
   laporan tersebut hanya dapat disajikan sebagai                  financial statements should be presented as
   informasi tambahan dalam laporan keuangan                       supplementary information to the consolidated
   konsolidasian. Laporan keuangan tersendiri adalah               financial statements. Separate financial statements
   laporan keuangan yang disajikan oleh entitas induk              are those presented by a parent, in which the
   yang mencatat investasi pada entitas anak, entitas              investments in subsidiaries, associate entity and
   asosiasi, dan pengendalian bersama entitas                      joint control entity are accounted for on the basis of
   berdasarkan kepemilikan ekuitas langsung bukan                  the direct equity interest rather than on the basis of
   berdasarkan pelaporan hasil dan aset neto investee.             the reported results and net assets of the investees.

   Kebijakan akuntansi yang diterapkan dalam                       Accounting policies adopted in the preparation of the
   penyusunan Informasi keuangan Entitas Induk                     parent entity financial information are the same as
   adalah sama dengan kebijakan akuntansi yang                     the accounting policies adopted in the preparation of
   diterapkan dalam penyusunan laporan keuangan                    the Group’s consolidated financial statements as
   konsolidasian Kelompok Usaha sebagaimana                        disclosed in Note 2 to the consolidated financial
   diungkapkan dalam Catatan 2 atas laporan                        statements, except for investments in subsidiaries.
   keuangan konsolidasian, kecuali untuk penyertaan
   pada entitas anak.

   Penyertaan saham pada entitas anak dicatat pada                 Invesments in shares of stock of subsidiaries are
   biaya perolehan. Entitas induk mengakui dividen dari            accounted for at acquisition cost. The parent entity
   entitas anak pada laporan laba rugi entitas induk               recognizes dividend from subsidiaries in the Parent
   ketika hak menerima dividen ditetapkan.                         entity’s profit and loss when its right to receive the
                                                                   dividend is established.




                                                          165




                                                                                                                                                  453
                                                                                                       PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                             Laporan Tahunan 2023 Annual Report
Page 454
                                                                                                The original consolidated financial statements included herein
                                                                                                                               are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                         PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                    AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                           Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                       financial statements
                                    Tanggal 31 Desember 2023                                                As of December 31, 2023
                                   dan untuk tahun yang berakhir                                            and for year then ended
                                       pada tanggal tersebut                                           (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                           unless otherwise stated)
                                      kecuali dinyatakan lain)


                      45. INFORMASI            KEUANGAN           ENTITAS    INDUK            45. FINANCIAL INFORMATION OF PARENT ENTITY
                          (lanjutan)                                                              (continued)

                              CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
                                  ENTITAS INDUK (LANJUTAN)                                            OF THE PARENT ENTITY (CONTINUED)

                      B. PENYERTAAN SAHAM                                                      B. INVESTMENTS IN SHARES OF STOCK

                            Pada tanggal 31 Desember 2023 dan 2022, Entitas                         As of December 31, 2023 and 2022 the parent entity
                            induk memiliki penyertaan saham pada entitas anak                       has the following invesments in shares of stock as
                            berikut:                                                                follows:

                                                                                               31 Desember 2023/December 31, 2023

                                                                         Persentase      Nilai tercatat                                        Nilai tercatat
                                                                        kepemilikan/     1 Jan 2023/                                           31 Des 2023/
                                                                       Percentage of    Carrying value     Penambahan/       Pengurangan/     Carrying value
                                            Entitas/Entity               ownership       Jan 1, 2023         Additions        Deduction        Dec 31, 2023

                          Entitas anak/Subsidiaries
                          PT Citra Borneo Utama Tbk.                        70,22%           661.498.191    3.451.309.583                 -     4.112.807.774
                          PT Mitra Mendawai Sejati                            99%            225.227.000                -                 -       225.227.000
                          PT Kalimatan Sawit Abadi                            99%            179.437.500                -                 -       179.437.500
                          Sawit Sumbermas International Pte Ltd              100%                     11                -                 -                11
                          SSMS Plantations Holding Pte Ltd                   100%                     10                -                 -                10

                          Entitas lainnya/Other entities
                          PT Surya Borneo Industri                           43%             760.801.579                 -                -      760.801.579

                                                                                          1.826.964.291     3.451.309.583                 -     5.278.273.874



                                                                                               31 Desember 2022/December 31, 2022

                                                                         Persentase      Nilai tercatat                                        Nilai tercatat
                                                                        kepemilikan/     1 Jan 2022/                                           31 Des 2022/
                                                                       Percentage of    Carrying value     Penambahan/       Pengurangan/     Carrying value
                                            Entitas/Entity               ownership       Jan 1, 2022         Additions        Deduction        Dec 31, 2022

                          Entitas anak/Subsidiaries
                          PT Mitra Mendawai Sejati                           99%             225.227.000                 -                -      225.227.000
                          PT Kalimatan Sawit Abadi                           99%             179.437.500                 -                -      179.437.500
                          Sawit Sumbermas International Pte Ltd             100%                      11                 -                -               11
                          SSMS Plantations Holding Pte Ltd                  100%                      10                 -                -               10

                           Entitas lainnya/Other entities
                           PT Citra Borneo Utama Tbk.                       17,60%           661.498.191                 -                -      661.498.191
                           PT Surya Borneo Industri                          43%             760.801.579                 -                -      760.801.579

                                                                                          1.826.964.291                  -                -     1.826.964.291




                                                                                       166




454 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 455
                                                                 The original consolidated financial statements included herein
                                                                                                are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                KONSOLIDASIAN                                                  financial statements
          Tanggal 31 Desember 2023                                           As of December 31, 2023
         dan untuk tahun yang berakhir                                       and for year then ended
             pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
            kecuali dinyatakan lain)


45. INFORMASI      KEUANGAN        ENTITAS    INDUK             45. FINANCIAL INFORMATION OF PARENT ENTITY
    (lanjutan)                                                      (continued)

      CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          ENTITAS INDUK (LANJUTAN)                                      OF THE PARENT ENTITY (CONTINUED)
C. SALDO DAN          TRANSAKSI          DENGAN    PIHAK          C. BALANCE AND TRANSACTIONS                              WITH
   BERELASI                                                          RELATED PARTIES
   Detail saldo dengan pihak berelasi adalah                     Balance with related parties, are as follows:
   sebagai berikut:
                                           31 Desember/         31 Desember/
                                           December 31,         December 31,
                                               2023                 2022

    Piutang usaha - lancar                                                                         Trade receivables - current
      - dalam Rupiah                                                                                              - in Rupiah
    Entitas yang memiliki pengaruh                                                                 Entity which has significant
      signifikan terhadap Kelompok Usaha                                                                  influence to Group
      PT Citra Borneo Indah                    66.358.071            68.798.389                      PT Citra Borneo Indah
    Entitas anak                                                                                                Subsidiaries
      PT Kalimantan Sawit Abadi               116.900.387           105.802.772                 PT Kalimantan Sawit Abadi
      PT Citra Borneo Utama Tbk.               63.736.327           117.105.081                PT Citra Borneo Utama Tbk.
      PT Mitra Mendawai Sejati                 13.540.304             1.948.180                  PT Mitra Mendawai Sejati

                                              260.535.089           293.654.422

    Piutang lain-lain - lancar                                                                     Other receivables - current
      - dalam Rupiah                                                                                              - in Rupiah
    Entitas yang memiliki pengaruh                                                                 Entity which has significant
      signifikan terhadap Kelompok Usaha                                                                  influence to Group
      PT Citra Borneo Indah                    85.167.964            85.312.974                     PT Citra Borneo Indah
    Entitas anak                                                                                                Subsidiaries
      PT Kalimantan Sawit Abadi               196.749.830           257.892.128               PT Kalimantan Sawit Abadi
      SSMS Plantation Holdings Pte.Ltd        197.992.909           202.038.561          SSMS Plantation Holdings Pte.Ltd.
      SSMS Plantation International                                                         SSMS Plantation International
          Pte.Ltd.                             54.449.265            55.561.844                                 Pte.Ltd
      PT Mitra Mendawai Sejati                    930.621                 4.374                 PT Mitra Mendawai Sejati
      PT Citra Borneo Utama Tbk.                  605.152               490.458              PT Citra Borneo Utama Tbk.
      PT Menteng Kencana Mas                      493.313               769.894                PT Menteng Kencana Mas
      PT Tanjung Sawit Abadi                      243.754               549.226                  PT Tanjung Sawit Abadi
      PT Mirza Pratama Putra                            -               652.116                  PT Mirza Pratama Putra
      PT Sawit Multi Utama                              -                23.888                     PT Sawit Multi Utama
    Entitas Sepengendali                                                                        Entities under common control
      PT Surya Borneo Industri                      19.494             3.651.433                  PT Surya Borneo Industri
    Pihak berelasi lainnya                                                                               Other related parties
      PT Natai Sawit Perkasa                      1.285.247            2.131.912                    PT Natai Sawit Perkasa
      PT Sepalar Yasa Kartika                       687.092            1.146.587                   PT Sepalar Yasa Kartika
      PT Sulung Ranch                               311.314            4.484.717                         PT Sulung Ranch
      PT Pesona Citra Propertindo                   299.274              194.480               PT Pesona Citra Propertindo
      PT Pelayaran Lingga Marintama                   2.405               14.270            PT Pelayaran Lingga Marintama
      PT Borneo Sawit Gemilang                        2.324                    -                PT Borneo Sawit Gemilang

                                              539.239.958           614.918.862




                                                          167




                                                                                                                                                   455
                                                                                                        PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                              Laporan Tahunan 2023 Annual Report
Page 456
                                                                                          The original consolidated financial statements included herein
                                                                                                                         are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                   PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                              AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                     Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                 financial statements
                                    Tanggal 31 Desember 2023                                          As of December 31, 2023
                                   dan untuk tahun yang berakhir                                      and for year then ended
                                       pada tanggal tersebut                                     (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                     unless otherwise stated)
                                      kecuali dinyatakan lain)


                      45. INFORMASI         KEUANGAN          ENTITAS    INDUK           45. FINANCIAL INFORMATION OF PARENT ENTITY
                          (lanjutan)                                                         (continued)

                              CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
                                  ENTITAS INDUK (LANJUTAN)                                     OF THE PARENT ENTITY (CONTINUED)

                      C. SALDO DAN TRANSAKSI DENGAN PIHAK                                C. BALANCE   AND     TRANSACTIONS                        WITH
                         BERELASI (lanjutan)                                                RELATED PARTIES (continued)
                            Detail saldo dengan pihak berelasi adalah sebagai                Balance with related parties, are as follows:
                            berikut: (lanjutan)                                              (continued)

                                                                    31 Desember/         31 Desember/
                                                                    December 31,         December 31,
                                                                        2023                 2022

                             Pinjaman kepada pihak berelasi                                                                     Loans to related parties
                               - lancar - dalam Rupiah                                                                           - current - in Rupiah

                             Entitas anak                                                                                                Subsidiaries
                               PT Kalimantan Sawit Abadi                  39.749.980         100.035.989                  PT Kalimantan Sawit Abadi

                             Pinjaman - jangka panjang
                               - dalam Rupiah                                                                           Loans - non-current - in Rupiah
                             Entitas yang memiliki pengaruh                                                                Entity which has significant
                               signifikan terhadap Kelompok Usaha                                                                 influence to Group
                               PT Citra Borneo Indah                     219.473.951       3.611.628.886                     PT Citra Borneo Indah

                             Jumlah piutang usaha                                                                              Total trade receivables
                               dan piutang lain-lain, dan                                                                     and other receivables
                               pinjaman kepada                                                                                          and, loans to
                               pihak berelasi                           1.058.998.978      4.620.238.159                              related parties

                             Jumlah aset                                7.465.254.704      7.946.861.857                                  Total assets

                             Sebagai persentase
                               terhadap jumlah aset                           14,18%              58,13%                As percentage of total assets


                             Utang usaha - jangka pendek                                                                      Trade payable – current
                             Entitas yang memiliki pengaruh                                                                 Entity which has significant
                               signifikan terhadap Grup                                                                            influence to Group
                               PT Citra Borneo Indah                       3.973.776             157.135                     PT Citra Borneo Indah

                             Entitas anak                                                                                                Subsidiaries
                               PT Kalimantan Sawit Abadi                  97.596.669           9.568.154                  PT Kalimantan Sawit Abadi
                               PT Tanjung Sawit Abadi                     49.459.251          49.367.351                    PT Tanjung Sawit Abadi
                               PT Mitra Mendawai Sejati                    8.883.903           1.000.000                   PT Mitra Mendawai Sejati
                               PT Sawit Multi Utama                           60.184                   -                       PT Sawit Multi Utama

                                                                         159.973.783          60.092.640




                                                                                   168




456 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 457
                                                                  The original consolidated financial statements included herein
                                                                                                 are in the Indonesian language.

      PT SAWIT SUMBERMAS SARANA Tbk.                                    PT SAWIT SUMBERMAS SARANA Tbk.
            DAN ENTITAS ANAKNYA                                               AND ITS SUBSIDIARIES
         Catatan atas Laporan Keuangan                                      Notes to the CONSOLIDATED
                 KONSOLIDASIAN                                                  financial statements
           Tanggal 31 Desember 2023                                           As of December 31, 2023
          dan untuk tahun yang berakhir                                       and for year then ended
              pada tanggal tersebut                                      (Expressed in thousands of Rupiah,
         (Disajikan dalam ribuan Rupiah,                                      unless otherwise stated)
             kecuali dinyatakan lain)


45. INFORMASI        KEUANGAN         ENTITAS   INDUK            45. FINANCIAL INFORMATION OF PARENT ENTITY
    (lanjutan)                                                       (continued)

     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
         ENTITAS INDUK (LANJUTAN)                                      OF THE PARENT ENTITY (CONTINUED)
C. SALDO DAN TRANSAKSI DENGAN PIHAK                              C. BALANCE   AND     TRANSACTIONS                          WITH
   BERELASI (lanjutan)                                              RELATED PARTIES (continued)

   Detail saldo dengan pihak berelasi adalah sebagai                 Balance with related parties, are as follows:
   berikut: (lanjutan)                                               (continued)
                                            31 Desember/         31 Desember/
                                            December 31,         December 31,
                                                2023                 2022

    Utang lain-lain - lancar                                                                            Other payable - current
      - dalam Rupiah                                                                                             - in Rupiah

    Entitas yang memiliki pengaruh                                                                  Entity which has significant
      signifikan terhadap Grup                                                                             influence to Group
      PT Citra Borneo Indah                       2.183.325                      -                   PT Citra Borneo Indah

    Entitas Sepengendali                                                                         Entities under common control
      PT Surya Borneo Industri                    2.741.022              412.563                   PT Surya Borneo Industri

    Entitas anak                                                                                                  Parent entity
      PT Mitra Mendawai Sejati                  310.991.611          309.759.539                  PT Mitra Mendawai Sejati
      PT Tanjung Sawit Abadi                    374.725.910          352.595.760                   PT Tanjung Sawit Abadi
      SSMS Plantation International                                                            SSMS Plantation International
          Pte.Ltd.                               29.718.640           30.135.731                                 Pte.Ltd.
      PT Mirza Pratama Putra                     10.946.237              472.783                    PT Mirza Pratama Putra
      PT Sawit Multi Utama                        6.422.050              130.164                      PT Sawit Multi Utama
      PT Menteng Kencana Mas                        750.778            1.428.298                 PT Menteng Kencana Mas
      PT Kalimantan Sawit Abadi                     345.664               18.296                 PT Kalimantan Sawit Abadi


    Pihak berelasi lainnya                                                                                Other related parties
      PT Pesona Citra Propertindo                 9.379.720              955.321                PT Pesona Citra Propertindo
      PT Sulung Ranch                             2.033.220              792.310                          PT Sulung Ranch
      PT Sepalar Yasa Kartika                        29.962                    -                   PT Sepalar Yasa Kartika
      PT Citra Borneo Utama Tbk.                      7.858                7.859                PT Citra Borneo Utama Tbk.

                                                750.275.997          696.708.624


    Pinjaman dari - lancar - dalam Rupiah                                                  Loans from - non-current - in Rupiah
    Entitas anak                                                                                                  Subsidiaries
      PT Mirza Pratama Putra                    308.889.400                      -                  PT Mirza Pratama Putra
      PT Tanjung Sawit Abadi                    279.007.507                      -                  PT Tanjung Sawit Abadi
      PT Mitra Mendawai Sejati                  199.652.355                      -                 PT Mitra Mendawai Sejati
      PT Sawit Multi Utama                      195.075.789                                           PT Sawit Multi Utama

                                                982.625.051                      -




                                                           169




                                                                                                                                                    457
                                                                                                         PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                               Laporan Tahunan 2023 Annual Report
Page 458
                                                                                                 The original consolidated financial statements included herein
                                                                                                                                are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                          PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                     AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                            Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                        financial statements
                                    Tanggal 31 Desember 2023                                                 As of December 31, 2023
                                   dan untuk tahun yang berakhir                                             and for year then ended
                                       pada tanggal tersebut                                            (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                            unless otherwise stated)
                                      kecuali dinyatakan lain)


                      45. INFORMASI           KEUANGAN         ENTITAS      INDUK              45. FINANCIAL INFORMATION OF PARENT ENTITY
                          (lanjutan)                                                               (continued)
                              CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
                                  ENTITAS INDUK (LANJUTAN)                                            OF THE PARENT ENTITY (CONTINUED)
                      C. SALDO DAN TRANSAKSI DENGAN PIHAK                                       C. BALANCE   AND     TRANSACTIONS                         WITH
                         BERELASI (lanjutan)                                                       RELATED PARTIES (continued)
                            Detail saldo dengan pihak berelasi adalah sebagai                       Balance with related parties, are as follows:
                            berikut: (lanjutan)                                                     (continued)
                                                                         31 Desember/          31 Desember/
                                                                         December 31,          December 31,
                                                                             2023                  2022
                                Utang lain-lain - lancar                                                                                Other payable - current
                                  - dalam Rupiah (lanjutan)                                                                          - in Rupiah (continued)
                                Pinjaman - tidak lancar
                                  - dalam Dolar AS                                                                           Loans - non-current - in US Dollar
                                Entitas anak                                                                                                       Subsidiaries
                                  SSMS Plantation International                                                               SSMS Plantation International
                                      Pte.Ltd.                              308.840.804             948.717.471                                   Pte.Ltd.
                                Pinjaman - tidak lancar - dalam Rupiah                                                         Loans - non-current - in Rupiah
                                Entitas anak                                                                                                     Subsidiaries
                                  PT Tanjung Sawit Abadi                                 -           26.000.000                    PT Tanjung Sawit Abadi
                                  PT Mitra Mendawai Sejati                               -           43.800.000                  PT Mitra Mendawai Sejati
                                                                            308.840.804           1.018.517.471
                                Jumlah utang usaha                                                                                       Total trade payables
                                  utang lain-lain, dan                                                                                 other payables and
                                  pinjaman dari pihak berelasi             2.201.715.635          1.775.318.735                     loan from intercompay

                                Jumlah liabilitas                          6.026.344.978          5.790.725.344                                Total liabilities
                                Sebagai persentase
                                  terhadap jumlah liabilitas                     36,53%                  30,65%                As percentage of total liabilities

                             Utang lain-lain - pihak berelasi terutama                         Other payables - related parties mainly represent non-
                             merupakan dana talangan dan utang atas jasa                       interest bearing advances and payable from services
                             yang diberikan tanpa bunga yang diterima oleh                     rendered obtained by the Group from these related
                             Kelompok Usaha dari pihak-pihak berelasi.                         parties.
                             Saldo utang lain-lain - pihak berelasi pada akhir                 Outstanding balances of other payables - related parties
                             tahun tidak memiliki jaminan.                                     at year-end are unsecured.
                             Detail transaksi dengan pihak berelasi adalah                     Transactions with related parties, are as follows:
                             sebagai berikut:
                                                                          31 Desember/         31 Desember/
                                                                          December 31,         December 31,
                                                                              2023                 2022
                            Penjualan                                                                                                                 Sales
                            Entitas anak                                                                                                        Subsidiaries
                            PT Citra Borneo Utama Tbk.                    1.445.050.660         1.453.391.988                    PT Citra Borneo Utama Tbk.
                            PT Mitra Mendawai Sejati                         38.403.042            63.411.840                      PT Mitra Mendawai Sejati
                            PT Kalimantan Sawit Abadi                        10.019.400            10.204.243                     PT Kalimantan Sawit Abadi
                            Entitas Sepengendali                                                                               Entities under common control
                            PT Citra Borneo Indah                             4.013.463            62.228.033                           PT Citra Borneo Indah
                                                                          1.497.486.565         1.589.236.104
                            Jumlah penjualan                              1.504.887.883         1.942.979.487                                     Total sales

                            Sebagai persentase
                              terhadap jumlah penjualan                         99,50%                 81,79%                    As percentage of total sales



                                                                                         170




458 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 459
                                                                      The original consolidated financial statements included herein
                                                                                                     are in the Indonesian language.

     PT SAWIT SUMBERMAS SARANA Tbk.                                         PT SAWIT SUMBERMAS SARANA Tbk.
           DAN ENTITAS ANAKNYA                                                    AND ITS SUBSIDIARIES
        Catatan atas Laporan Keuangan                                           Notes to the CONSOLIDATED
                KONSOLIDASIAN                                                       financial statements
          Tanggal 31 Desember 2023                                                As of December 31, 2023
         dan untuk tahun yang berakhir                                            and for year then ended
             pada tanggal tersebut                                           (Expressed in thousands of Rupiah,
        (Disajikan dalam ribuan Rupiah,                                           unless otherwise stated)
            kecuali dinyatakan lain)


45. INFORMASI      KEUANGAN          ENTITAS     INDUK              45. FINANCIAL INFORMATION OF PARENT ENTITY
    (lanjutan)                                                          (continued)

     CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
         ENTITAS INDUK (LANJUTAN)                                          OF THE PARENT ENTITY (CONTINUED)
C. SALDO DAN TRANSAKSI                DENGAN PIHAK                   C. BALANCE   AND     TRANSACTIONS                          WITH
   BERELASI (lanjutan)                                                  RELATED PARTIES (continued)

   Detail transaksi dengan pihak berelasi adalah                          Transactions with related parties, are as follows:
   sebagai berikut: (lanjutan)                                            (continued)
                                               31 Desember/         31 Desember/
                                               December 31,         December 31,
                                                   2023                 2022

     Pembelian                                                                                                        Purchase
     Entitas anak                                                                                                   Subsidiaries
     PT Kalimantan Sawit Abadi                    88.123.403            41.871.341                     PT Kalimantan Sawit Abadi
     PT Mitra Mendawai Sejati                      7.118.649               547.418                      PT Mitra Mendawai Sejati
     PT Tanjung Sawit Abadi                           82.980                     -                       PT Tanjung Sawit Abadi
     PT Sawit Multi Utama                             54.342                     -                          PT Sawit Multi Utama

     Entitas Sepengendali                                                                           Entities under common control
     PT Citra Borneo Indah                         8.110.644             2.760.124                           PT Citra Borneo Indah

                                                 103.490.018            45.178.883

     Jumlah beban pokok penjualan              1.056.336.269           964.756.502                            Total cost of sales

     Sebagai persentase terhadap                                                                                  As percentage of
       Jumlah beban pokok penjualan                   9,79%                  4,68%                           total cost of sales


      Beban penanganan                                                                                         Handling expense

      Pihak berelasi lainnya                                                                                 Other related parties
      PT Surya Borneo Industri                        15.996               216.788                       PT Surya Borneo Industri

      Total beban penjualan                       24.122.603            62.851.821                           Total selling expense

      Sebagai persentase terhadap                                                                                 As percentage to
        total beban penjualan                         0,06%                  0,34%                        total selling expense


      Biaya penelitian dan pemeliharaan                                                    Research and maintenance expense
      Entitas yang memiliki pengaruh                                                                 Entity which has significant
        signifikan terhadap Kelompok Usaha                                                                influence to the Group
      PT Citra Borneo Indah                                   -         36.097.200                        PT Citra Borneo Indah

       Total beban pokok penjualan             1.056.336.269           964.756.502                              Total cost of sales

      Sebagai persentase terhadap                                                                                 As percentage to
       total beban pokok penjualan                    0,00%                  3,74%                           total cost of sales




                                                              171




                                                                                                                                                        459
                                                                                                             PT SAWIT SUMBERMAS SARANA TBK.
                                                                                                                   Laporan Tahunan 2023 Annual Report
Page 460
                                                                                               The original consolidated financial statements included herein
                                                                                                                              are in the Indonesian language.

                               PT SAWIT SUMBERMAS SARANA Tbk.                                        PT SAWIT SUMBERMAS SARANA Tbk.
                                     DAN ENTITAS ANAKNYA                                                   AND ITS SUBSIDIARIES
                                  Catatan atas Laporan Keuangan                                          Notes to the CONSOLIDATED
                                          KONSOLIDASIAN                                                      financial statements
                                    Tanggal 31 Desember 2023                                               As of December 31, 2023
                                   dan untuk tahun yang berakhir                                           and for year then ended
                                       pada tanggal tersebut                                          (Expressed in thousands of Rupiah,
                                  (Disajikan dalam ribuan Rupiah,                                          unless otherwise stated)
                                      kecuali dinyatakan lain)


                      45. INFORMASI         KEUANGAN          ENTITAS     INDUK              45. FINANCIAL INFORMATION OF PARENT ENTITY
                          (lanjutan)                                                             (continued)

                              CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
                                  ENTITAS INDUK (LANJUTAN)                                          OF THE PARENT ENTITY (CONTINUED)

                      C. SALDO DAN TRANSAKSI DENGAN PIHAK                                     C. BALANCE   AND     TRANSACTIONS                        WITH
                         BERELASI (lanjutan)                                                     RELATED PARTIES (continued)

                            Detail transaksi dengan pihak berelasi adalah                         Transactions with related parties, are as follows:
                            sebagai berikut: (lanjutan)                                           (continued)
                                                                        31 Desember/         31 Desember/
                                                                        December 31,         December 31,
                                                                            2023                 2022

                                Pendapatan bunga                                                                                           Interest income
                                Entitas yang memiliki pengaruh                                                                  Entity which has significant
                                  signifikan terhadap Kelompok Usaha                                                                     influence to Group
                                PT Citra Borneo Indah                     273.770.771           274.424.477                          PT Citra Borneo Indah

                                Entitas anak                                                                                                 Subsidiaries
                                PT Kalimantan Sawit Abadi                   7.005.644            35.281.798                     PT Kalimantan Sawit Abadi
                                PT Sawit Multi Utama                                -             3.142.083                         PT Sawit Multi Utama

                                Jumlah pendapatan bunga                                                                                     Interest income
                                  pihak berelasi                          280.776.415           312.848.358                related parties parties, net

                                Jumlah pendapatan keuangan                300.808.539           317.714.368                          Total finance income

                                Sebagai persentase terhadap
                                jumlah pendapatan keuangan                    93,34%                   98,4%         As percentage to total finance income




                                                                                       172




460 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.
Page 461
                                          461
PT SAWIT SUMBERMAS SARANA TBK.
     Laporan Tahunan 2023 Annual Report
Page 462
       INTEGRASI BERKELANJUTAN
       ANTARA HULU DAN HILIR
       UNTUK PERTUMBUHAN BISNIS YANG TANGGUH
       Continuous Integration Between Upstream and Downstream for Resilient Business Growth.




       KANTOR PUSAT
       Jl. H. Udan Said No. 47 Pangkalan Bun 74113
       Kalimantan Tengah, Indonesia
       Ph : +62 532 21297

       KANTOR PERWAKILAN JAKARTA
       Equity Tower 43F
       Jl. Jend. Sudirman Kav. 52-53 SCBD Lot. 9
       Jakarta, Indonesia 12190
       Ph : +62 21 2903 5401
       E : corporate@ssms.co.id




          www.ssms.co.id


462 Laporan Tahunan 2023 Annual Report
       PT SAWIT SUMBERMAS SARANA TBK.

File

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Published3 Apr 2024
Pages462
Characters2,979,140
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Names mentioned 126 people and organisations named in the text · linked when the evidence is strong

linked org PT Sawit Sumbermas p.2 ×9
linked org Citra Borneo Utama Tbk. p.6 ×22
linked org PT Putra Borneo Agro p.22
linked person PROF. DR. IR. BUNGARAN SARAGIH p.42 ×12
linked person NASARUDIN BIN NASIR p.48 ×14
linked person Rimbun Situmorang p.58 ×11
linked org Japfa Comfeed Indonesia Tbk p.79 ×5
linked org PT Mandiri Sekuritas p.81
linked org Samudera Indonesia Tbk. · Komisaris Independen p.81 ×2
possible org SAWIT SUMBERMAS SARANA TBK. p.1 ×339
possible org Otoritas Jasa Keuangan p.2 ×3
possible org Bursa Efek Indonesia p.9 ×5
possible org PT Citra Borneo Indah p.22 ×21
possible org PT Putra Borneo Agro Lestari p.22
possible org Negara Republik Indonesia p.64
possible org PT Danareksa (Persero) p.81 ×2
unresolved org Sarana Tbk p.2 ×5
unresolved org Financial Services Authority p.2 ×3
unresolved org Sumbermas Sarana Tbk p.2 ×2
unresolved org PT Citra p.6 ×2
unresolved org Borneo Utama Tbk. p.6
unresolved org PT Kalimantan Sawit Abadi This p.7
unresolved org PT Mitra Mendawai Sejati CERTIFICATE p.7
unresolved org PT AJA Sertifikasi Indonesia CERTIFICATE p.7
unresolved org PT AJA Sertifikasi Indonesia p.7 ×26
unresolved org PT. Kalimantan Sawit Abadi p.7 ×14
unresolved org PT Sawit Sumbermas Sarana RSPO Number Parent p.7 ×2
unresolved org PT MITRA MENDAWAI SEJATI p.7 ×12
unresolved org PT Mirza Pratama Putra · Company Name p.7 ×9
unresolved person MALAYSIA · Director p.7 ×2
unresolved org PT SGS Indonesia p.7 ×6
unresolved org PT SGS Indonesia The Garden Centre p.7 ×2
unresolved org BSI Services Malaysia Sdn. Bhd. p.7 ×8
unresolved org Royal Charter. BSI Services Malaysia Sdn. Bhd. p.7 ×2
unresolved org Companies BSI Services Malaysia Sdn. Bhd. p.7 ×2
unresolved org PT Menteng Kencana Mas p.7 ×7
unresolved person H. Udan Said p.7 ×3
unresolved org Menteri Pertanian p.7 ×5
unresolved org PT Sawit Sumbermas Sarana Seluas p.7
unresolved org PT AJA Sertifikasi Indonesia SERTIFIKAT p.7
unresolved org PT TSI Sertifikasi Internasional p.7 ×3
unresolved org Jakarta Selatan 12550, DKI Jakarta p.7 ×3
unresolved org PT. SAWIT MULTI UTAMA p.7 ×9
unresolved org PT. TANJUNG SAWIT ABADI Alamat Kantor Pusat p.7
unresolved org PT Putra Borneo p.9
unresolved org Agro Lestari p.9
unresolved org Penandatanganan perjanjian dengan Bank Sindikasi p.9
unresolved org Bank Sindikasi p.9
unresolved org sebagian obligasi global (global bond) p.9
unresolved org Signing of an agreement with a Syndicated Bank to buy p.9
unresolved org Obligasi Global p.9
unresolved org SSMS menerbitkan obligasi global senilai USD300 p.9
unresolved — juta dan mendirikan anak perusahaan (SSMS p.9
unresolved org PT Mirza Plantation International Pte. p.9
unresolved org Plantation International Pte.Ltd.) sehubungan p.9
unresolved org PT Tanjung Sawit Abadi p.9 ×11
unresolved — obligasi tersebut. p.9
unresolved org PT Sawit Multi Utama. Global Bonds Issue p.9
unresolved org Global Bonds Issue p.9
unresolved org SSMS issued global bonds worth USD300 million p.9
unresolved — established-based subsidiary (SSMS Plantation p.9
unresolved org PT Mirza Pratama International Pte. p.9
unresolved org International Pte.Ltd.) in relation to the bond issue. p.9
unresolved — Pangkalan Bun, Kalimantan Tengah p.9
unresolved — Incoporation p.9
unresolved — Pangkalan Bun, Central Kalimantan p.9
unresolved org Kantor Akuntan Publik Information p.12
unresolved person Gratification Control · Commissioner p.13
unresolved person Keberagaman Komposisi · Komisaris p.13
unresolved person Komite-Komite · Komisaris p.13
unresolved org Indonesia Stock Exchange p.22 ×2
unresolved org SSMS SSMS Plantation Holding Pte. Ltd. p.25
unresolved org Plantation Holding Pte. Ltd. p.25
unresolved org PT Mutu Agung Lestari p.28 ×2
unresolved org PT SGS Indonesia Lingkup p.28 ×2
unresolved org PT SSS p.28 ×4
unresolved org PT KSA p.28 ×2
unresolved org PT Control Union p.28
unresolved org PT SMU p.28 ×5
unresolved org PT TSA p.28 ×2
unresolved org PT MMS p.28 ×4
unresolved org PT Mirza Pratama Putra Management Unit Name p.28
unresolved org PT BSI Indonesia Lingkup p.28
unresolved org PT MKM p.28 ×2
unresolved org QFS Management System LLP p.30 ×5
unresolved — BOC · Komisaris p.43
unresolved person Changes In The Board Of Commissioners Composition · Komisaris p.46
unresolved org PT Citra Borneo p.51
unresolved person Notary Enimarya Agoes Suwarko p.64 ×2
unresolved person Notary Nadi Krida Yomantara SH. · Notaris p.64
unresolved org Minister of Justice and Human Rights of Republic of Indonesia p.64
unresolved org Menteri Kehakiman dan Hak Asasi p.64
unresolved org PT Rea Kaltim Plantations p.79 ×2
unresolved org Menteri Pertanian RI p.79
unresolved org Minister of Agriculture p.79
unresolved org Menteri Pertanian dan Kehutanan RI p.79
unresolved org Minister of Agriculture and Forestry of Republic of Indonesia p.79
unresolved org PT Kliring Penjaminan Efek Indonesia p.81 ×9
unresolved org PT Kliring Penjaminan Efek p.81
unresolved org PT Mandiri p.81
unresolved org PT Kliring Penjamin Efek Indonesia p.81 ×3
unresolved org Sekuritas · Komisaris p.81
unresolved org PT Kliring Penjamin Efek Independen p.81
unresolved org PT Samudera p.81
unresolved org Indonesia Tbk. p.81
unresolved org PT Pesona Citra Propertindo p.83 ×2
unresolved org PT Citra Kencanamas Abadi p.83 ×2
unresolved org PT Citra Borneo Chemical p.83 ×2
unresolved org PT Surya Borneo Industri p.83 ×2
unresolved org PT Pelayaran Senggora p.83 ×2
unresolved org PT Ahmad Saleh Perkasa p.83 ×2
unresolved org PT Sawit Mandiri Lestari p.83 ×2
unresolved org PT Mendawai Putra p.83 ×2
unresolved org PT Barito Putra Nirwana p.83 ×2
unresolved org PT Rimba Karya Kalimantan p.83 ×2
unresolved org PT Tanjung Lingga p.83 ×4
unresolved org PT Pelayaran Lingga Marintama p.83 ×2
unresolved org PT BPR Lingga Sejahtera. p.83 ×2
unresolved org IJM Plantations Sdn. Bhd. p.85 ×2
unresolved — Appointment History Jap Hartono · Direktur p.87 ×16
unresolved org PT Kencana Agri Ltd Indonesia p.87 ×2
unresolved org PT Intan p.87
unresolved org Intan Baruprama Finance Tbk p.87 ×2
unresolved org Baruprama Finance Tbk p.87
unresolved org Bank ICB Bumiputera Tbk p.87 ×4
unresolved — Appointment History M. Syafril Harahap · Direktur p.89

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