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March 27, 2024
KAP Purwantono, Sungkoro & Surja
Indonesia Stock Exchange Building
Tower 2, 7th floor.
Jl. Jend Sudirman Kav 52-53
Jakarta 12190
Attention of Ratnawati Setiadi
Dear Sir/Madam,
This letter of representations is provided in connection with your audit of the consolidated
financial statements of PT Adi Sarana Armada Tbk (“the Company”) and its subsidiaries
(collectively referred to as the “Group”) as of December 31, 2023 and for the year then ended.
We recognize that obtaining representations from us concerning the information contained in
this letter is a significant procedure in enabling you to form an opinion as to whether the
consolidated financial statements present fairly, in all material respects the consolidated
financial position of PT Adi Sarana Armada Tbk and its subsidiaries as of December 31,2023
and of their consolidated financial performance and their consolidated cash flows for the year
then ended in accordance with Indonesian Financial Accounting Standards.
We understand that the purpose of your audit of our consolidated financial statements is to
express an opinion thereon and that your audit was conducted in accordance with Standards
on Auditing established by Indonesian Institute of Certified Public Accountants, which involves
an examination of the accounting system, internal control and related data to the extent you
considered necessary in the circumstances, and is not designed to identify - nor necessarily
be expected to disclose - all fraud, shortages, errors and other irregularities, should any exist.
Accordingly, we make the following representations, which are true to the best of our
knowledge and belief, having made such inquiries as we considered necessary for the
purpose of appropriately informing ourselves:
1. Financial Statements and Financial Records
a. We have fulfilled our responsibilities, as set out in the terms of the audit engagement
letter dated October 19, 2023, for the preparation of the consolidated financial
statements in accordance with Indonesian Financial Accounting Standards which were
completed on March 27, 2024.
b. We acknowledge, as members of management of the Group, our responsibility for the
fair presentation of the consolidated financial statements. We believe the consolidated
financial statements referred to above present fairly, in all material respects the
financial position, financial performance and cash flows of the Group in accordance
with Indonesian Financial Accounting Standards applied on the basis consistent with
B ranche s
\ PT A d i Sarana Armada Tbk
M edan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, Lt.6
Pekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 JL Yos Sudarso No. 88, Sunter, LRQA
3)
P a d a ng 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia UKASI
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21) 6530 8811
La m p u ng 0721-471 111 Yogyakarta 0274-282 7333 M aka ssa r 0411-880 010 F.(+62-2116530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
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the preceding periods and are free of material misstatements, including omissions. We
have approved the consolidated financial statements.
c. The material accounting policy information adopted in the preparation of the
consolidated financial statements are appropriately disclosed in the consolidated
financial statements.
d. Each element of the consolidated financial statements is properly classified, described,
presented and disclosed in accordance with Indonesian Financial Accounting
Standards.
e. As members of management of the Group, we believe that the Group has a system of
internal controls adequate to enable the preparation of accurate consolidated financial
statements in accordance with Indonesian Financial Accounting Standards that are
free from material misstatement, whether due to fraud or error.
f. We believe that the effects of any unrecorded audit differences, summarized in the
Attachment 1, accumulated by you during the current audit and pertaining to the latest
period presented are immaterial, both individually and in the aggregate, to the
consolidated financial statements taken as a whole.
g. We believe that the significant assumptions underlying the fair value measurements
and disclosures used in the preparation of the consolidated financial statements are
reasonable and appropriate in the circumstances. These assumptions reflect our intent
and ability to carry out business decisions and actions on behalf of the Group.
h. We have no plans or intentions that may materially affect the carrying value or
classification of assets and liabilities reflected in the consolidated financial statements.
2. Non-compliance with Laws and Regulations, including fraud
a. We acknowledge that we are responsible to determine that the Group’s business
activities are conducted in accordance with laws and regulations and that we are
responsible to identify and address any non-compliance with applicable laws or
regulations, including fraud.
b. We acknowledge that we are responsible for the design, implementation and
maintenance of internal controls to prevent and detect fraud.
c. We have disclosed to you the results of our assessment of the risk that the
consolidated financial statements may be materially misstated as a result of fraud.
d. We have no knowledge of any identified or suspected non-compliance with laws or
regulations including fraud that may have affected the Group (regardless of the source
or form and including without limitation, any allegations by “whistleblowers”), including
non-compliance matters:
• Involving financial improprieties
• Related to laws or regulations that have a direct effect on the determination of
material amounts and disclosures in the Group’s consolidated financial statements
B ra n c h e s
PT Adi Sa ra na Armada Tbk
Medan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 Head Office:
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, L t6
Pekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88. Sunter,
P a d a ng 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara. 14350. Indonesia
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21)6530 8811
La m p u ng 0721-471 111 Yogyakarta 0274-282 7333 M a k a ssa r 0411-880 010 F.(+62-2!) 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
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• Related to laws or regulations that have an indirect effect on amounts and
disclosures in the consolidated financial statements, but compliance with which
may be fundamental to the operations of the Group’s business, its ability to
continue in business, or to avoid material penalties
• Involving management, or employees who have significant roles in internal control,
or others; and
• In relation to any allegations of fraud, suspected fraud or other non-compliance
with laws and regulations communicated by employees, former employees,
analysts, regulators, or others.
3. Information Provided and Completeness of Information and Transactions
a. We have provided you with:
• Access to all information of which we are aware that is relevant to the preparation
of the consolidated financial statements such as records, documentation and other
matters
• Additional information that you have requested from us for the purpose of the audit
and
• Unrestricted access to persons within the entity from whom you determined it
necessary to obtain audit evidence.
b. All material transactions have been recorded in the accounting records and all material
transactions, events and conditions are reflected in the consolidated financial
statements.
c. We confirm the completeness of information provided regarding the identification of
related parties, as defined in PSAK 7: Related Party Disclosures (since January 1,
2024 referred to as PSAK 224). We have disclosed to you the identity of the Group’s
related parties and all related party relationships and transactions of which we are
aware, including sales, purchases, loans, transfers of assets, liabilities and services,
lease arrangements, guarantees, non-monetary transactions and transactions for no
consideration for the period ended, as well as related balances due to or from such
parties at the December 31, 2023. These transactions have been appropriately
accounted for and disclosed in the consolidated financial statements.
d. We confirm that the scanned copies of the hardcopy documents provided to you
represent the true and genuine copies of the original documents. We also confirm that
the electronic copies of forms and other similar documents with electronic signature
provided to you are authentic in accordance with applicable laws, rules and regulations
and have not been altered.
e. We believe that the methods, significant assumptions and the data we used in making
accounting estimates and related disclosures are appropriate and consistently applied
to achieve recognition, measurement and disclosure that is in accordance with
Indonesian Financial Accounting Standards.
f. From the date of our last management representation letter or the beginning of the
current period through the date of this letter we have disclosed to you, to the extent
that we are aware, any (1) unauthorized access to our information technology systems
that either occurred or is reasonably likely to have occurred, including of reports
submitted to us by third parties (including regulatory agencies, law enforcement
B ra n c h e s
P T A d i Sarana Armada Tbk
M e d an 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, Lt.6
P ekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter,
P a d ang 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia
Palembang 071 1-571 0888 Sem arang 024-761 2333 Banjarmasin 051 1-673 0999 T.(+62-21) 6530 8811
Lam pung 0721-471 1 11 Yogyakarta 0274-282 7333 M aka ssa r 041 1-880 010 F.(+62-21) 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
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agencies and security consultants), to the extent that such unauthorized access to our
information technology systems is reasonably likely to have a material effect on the
consolidated financial statements, in each case or in the aggregate, and (2)
ransomware attacks when we paid or are contemplating paying a ransom, regardless
of the amount.
g. We have disclosed to you and provided you full access to information and any
internal investigations relating to, unauthorized access to our information
technology systems that has a material effect on the (consolidated) financial
statements, including disclosures.
4. Liabilities and Contingencies
a. All liabilities and contingencies, including those associated with guarantees, whether
written or oral, have been disclosed to you and are appropriately reflected in the
consolidated financial statements.
b. We have informed you of all outstanding and possible claims, whether or not they have
been discussed with our legal counsel.
c. We have recorded and/or disclosed, as appropriate, all liabilities related to litigations
and claims, both actual and contingent, and have disclosed in the consolidated
financial statements all guarantees that we have given to third parties.
d. There are no unasserted claims or assessments, including those our lawyers have
advised us of, that are probable of assertion and must be disclosed in accordance with
PSAK 57: Estimated Liabilities, Contingent Liabilities and Contingent Assets (since
January 1, 2024 referred to as PSAK 237) (other than those disclosed in the
consolidated financial statements).
e. There have been no violations or possible violations of laws or regulations in any
jurisdiction whose effects should be considered for disclosure in the (consolidated)
financial statements or as a basis for recording a loss contingency (other than those
disclosed or accrued in the (consolidated) financial statements).
f. There have been no internal investigations or communications from regulatory
agencies or government representatives concerning investigations or allegations of
noncompliance with laws or regulations in any jurisdiction, noncompliance with or
deficiencies in financial reporting practices or other matters that could have a material
effect on the consolidated financial statements.
g. There are no other material liabilities or gain or loss contingencies that are required to
be accrued or disclosed by PSAK 57, (other than those accrued or disclosed in the
consolidated financial statements), nor are there any accruals for loss contingencies
included in the statement of financial position that are not in conformity with the
provisions of PSAK 57.
B ra n c h e s
PT Adi Sarana Armada Tbk
M edan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, Lt.6
Pekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter,
P a d a ng 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21)6530 8811
L a m p u ng 0721-471 111 Yogyakarta 0274-282 7333 M akassar 0411-880 010 F.(+62-21) 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
I www.assarent.co.id Solution C enter: 1500-369
I
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5. Subsequent Events
Other than as described in Note 40 to the consolidated financial statements, there have
been no events or transactions have occurred since December 31, 2023 or are pending
that would have a material effect on the consolidated financial statements at that date or
for the period then ended, or that are of such significance in relation to the Group’s affairs
to require mention in a note to the consolidated financial statements, as per PSAK 8:
Events After Reporting Period Date (since January 1, 2024 referred to as PSAK 210), in
order to make them not misleading regarding the consolidated financial position, financial
performance, or cash flows of the Group.
6. Other information
a. We acknowledge our responsibility for the preparation of the other information. The
other information.
b. We confirm that the content contained within the other information is consistent with
the consolidated financial statements.
c. We will provide to you the final version of documents when available and prior to
issuance by us, such that you can perform your procedures.
7. Independence and Conflicts of Interest
a. We are not aware of any instances where an officer, director, or substantial
shareholder of the Company, or any member of his or her immediate family (i.e.,
spouse, spousal equivalent, and dependents), has a direct or material indirect
business relationship with KAP Purwantono, Sungkoro & Surja or any of its affiliates,
or has an ownership interest in, or serves as an officer or director of, any company
(public or private) that has a direct or material indirect business relationship with KAP
Purwantono, Sungkoro & Surja or any of its affiliates.
b. We are not aware of any reason KAP Purwantono, Sungkoro & Surja would not be
considered to be independent for purposes of the Group’s audit.
c. We are not aware of any reason KAP Purwantono, Sungkoro & Surja would not be
considered to be independent for purposes of the Group’s audit.
B ra n c h e s
PT Adi Sarana Armada Tbk
M edan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, Lt.6
P ekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter, LRQA
CERTIFIED
Padang 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21) 6530 8811
La m p u ng 0721-471 111 Yogyakarta 0274-282 7333 M akassar 0411-880 010 F.(+62-21)6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
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8. Minutes of Meetings and Contracts
a. We have made available to you all minutes of the meetings of shareholders, Board of
Directors (BOD), Board of Commissioners (BOC), management and audit committees
or summaries of actions of recent meetings. We also have made available to you all
significant contracts and agreements and have communicated to you all significant oral
agreements. These minutes constitute a full and complete record of all meetings of the
shareholders, directors, commissioners, management and audit committees held
during the period from January 1, 2023 to March 27, 2024.
B ra n c h e s
PT A d i Sarana Armada Tbk
M e d an 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 Head Office:
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana. Lt.6
P ekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter,
P a d a ng 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21) 6530 8811
L a m p u ng 0721-471 111 Yogyakarta 0274-282 7333 M a k a ssa r 0411-880 010 F.(+62-21)6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
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Tanggal No Akta Notaris Com pany Keterangan
The Companies Act 1967 Private Company Limited by
9-N O V -22 1967 The Companies Act Coldspace PTE Ltd. Shares Constitution of Coldspace PTE.LTD. (Incorporated
in the Republic of Singapore)
Jimmy Tanal, S.H., PT Adi Sarana
12-Jan-23 60 Jual Beli Saham
M.Kn. Investindo
Jimmy Tanal, S,H., PT Adi Sarana Pernyataan Keputusan Pemegang Saham PT Kargo
12-Jan-23 59 M.Kn Transportasi Bersama Teknologi
Jimmy Tanal, S,H., PT Adi Sarana Pernyataan Keputusan Pemegang Saham PT Kargo
25-Jan-23 375 Transportasi Bersama Teknologi
M.Kn
Jimmy Tanal, S.H., PT Adi Sarana Pernyataan Keputusan Pemegang Saham PT Kargo
25-Jan-23 375 Transportasi Bersama Teknologi
M.Kn
PT Adi Sarana Penerimaan Pemberitahuan Perubahan Data Perseroan
3-Feb-23 AHU-AH.01.09-0064764 Transportasi PT Adi Sarana Transportasi
Keputusan Kemenkumham tentang Persetujuan
AHU-0007864.AH.01,02.Tahun PT Adi Sarana
6-Feb-23 Perubahan Anggaran Dasar Perseroan Terbatas PT Adi
2023 Transportasi
Sarana Transportasi
PT Adi Sarana Penerimaan Pemberitahuan Perubahan Anggaran Dasar
6-Feb-23 AHU-AH.01.03-0021257 PT Adi Sarana Transportasi
Transportasi
AHU- PT Adi Sarana Persetujuan Perubahan Anggaran Dasar Perseroan
6-Feb-23 0007864. AH. 01.02.TAHUN Transportasi Terbatas PT Adi Sarana Transportasi
2023
JIMMY TANAL, S.H., Pernyataan Keputusan Pemegang Saham PT Adi Sarana
15-Feb-23 114 PT Adi Sarana Logistik
M.Kn Logistik
AHU- Persetujuan Perubahan Anggaran Dasar Perseroan
2-Mar-23 0013482.AH.01.02.TAHUN PT Adi Sarana Logistik
Terbatas PT Adi Sarana Logistik
2023
Jimmy Tanal, S.H., PT Autopedia Sukses Pernyataan Keputusan Rapat PT Autopedia Sukses Lestari
31-May-23 206 Lestari Tbk Tbk
M.Kn.
Jimmy Tanal, S.H., PT Adi Sarana Armada
8-Jun-23 57 Pernyataan Keputusan Rapat PT Adi Sarana Armada Tbk
M.Kn. Tbk
Page 8
Tanggal No Akta N otaris Com pany Keterangan
PT Autopedia
Penerimaan Pemberitahuan Perubahan Data Perseroan PT
22-Jun-23 AHU-AH.01.09-0130853 Sukses Lestari
Autopedia Sukses Lestari Tbk
Tbk
PT Tri Adi Pernyataan Keputusan Pemegang Saham PT Tri Adi
27-Jun-23 301 Jimmy Tanal, S.H., M. Kn.
Bersama Bersama
PT Adi Sarana Berita Acara Rapat Umum Pemegang Saham Tahunan PT
28-Jun-23 321 Jimmy Tanal, S.H., M.Kn.
Armada Tbk Adi Sarana Armada Tbk
PT Adi Sarana Berita Acara Rapat Umum Pemegang Saham Luar Biasa
28-Jun-23 322 Jimmy Tanal, S.H., M.Kn.
Armada Tbk PT Adi Sarana Armada Tbk
Christina Dwi Utami, S.H., PT Duta Mitra Pernyataan Keputusan Para Pemegang Saham PT Duta
5-Jul-23 24
M.Hum, M.Kn. Solusindo Mitra Solusindo
Christina Dwi Utami, S.H., PT Adi Sarana Pernyataan Keputusan Para Pemegang Saham PT Adi
5 Juli 2023 26
M.Hum., M. Kn. Investindo Sarana Investindo
Christina Dwi Utami, S.H., PT Adi Sarana Pernyataan Keputusan Para Pemegang Saham PT Adi
5 Juli 2023 27
M. Hum., M. Kn. Investindo Sarana Investindo
Christina Dwi Utami, S.H., PT Rekayasa Pernyataan Keputusan Para Pemegang Saham PT Caroline
5 Juli 2023 25
M.Hum., M. Kn. Teknologi Kargo Karya Teknologi
Christina Dwi Utami, S.H., PT Adi Sarana
5 Juli 2023 23 Keputusan Pemegang Saham PT. Adi sarana Properti
M.Hum., M.Kn Properti
PT Adi Sarana
2-Aug-23 8 Jimmy Tanal, S.H., M.Kn Pernyataan Keputusan Pemegang Saham
Transportasi
PT Adi Sarana Penerimaan Pemberitahuan Perubahan Data Perseroan PT
8-Aug-23 AHU-AH.01.09-0149302
Transportasi ADI SARANA TRANSPORTASI
PT Duta Mitra
24-Aug-23 218 Jimmy Tanal, S.H., M. Kn. Pernyataan Keputusan Pemegang Saham
Solusindo
PT Duta Mitra Penerimaan Pemberitahuan Perubahan Data Perseroan PT
13-Sep-23 AHU-AH.01.09-0162622
Solusindo Duta Mitra Solusindo
Early Gresia Taher, S.H., PT Autopedia Akta Pernyataan Keputusan Para Pemegang Saham PT
29-Sep-23 3
M.Kn. Sukses Gadai AUTOPEDIA SUKSES GADAI
Page 9
Tanggal No Akta Notaris Com pany Keterangan
PT Adi Sarana
5-Oct-23 40 Jimmy Tanal, S.H., M.Kn Pernyataan Keputusan Rapat PT Adi Sarana Armada Tbk
Armada Tbk
PT Kriya Gawai Pernyataan Keputusan Pemegang Saham PT Krida Gawai
17-Oct-23 132 Jimmy Tanal, S.H., M. Kn.
Abadi Abadi
PT Surya Fajar Pernyataan Keputusan Pemegang Saham PT Surya fajar
17-Oct-23 135 JIMMY TANAL, S.H., M.Kn
Indonesia indonesia
PT Adi Sarana Pernyataan Keputusan Pemegang Saham PT Adi Sarana
24-Oct-23 197 Jimmy Tanal, S.H., M. Kn.
Investindo Investindo
PT Rekayasa Pernyataan Keputusan Pemegang Saham PT Caroline
24-Oct-23 198 Jimmy Tanal, S.H., M. Kn.
Teknologi Kargo Karya Teknologi
PT JBA
20-Nov-23 368 Jimmy Tanal, S.H., M.Kn. Pernyataan Keputusan Pemegang Saham
Indonesia
PT JBA Penerimaan Pemberitahuan Perubahan Anggaran Dasar PT
23-Nov-23 AHU-AH.01.03-0146048
Indonesia JBA INDONESIA
Early Gresia Taher, S.H., PT Autopedia Akta Pernyataan Keputusan Para Pemegang Saham PT
28-Dec-23 2
M.Kn. Sukses Gadai AUTOPEDIA SUKSES GADAI
PT Adi Sarana PERNYATAAN KEPUTUSAN PEMEGANG SAHAM PT ADI
16-Jan-24 47 Jimmy Tanal, S,H., M.Kn
Transportasi SARANA TRASPORTASI
PT Adi Sarana Penerimaan Pemberitahuan Perubahan Anggaran Dasar PT
26-Jan-24 AHU-AH.01.03-0024401
Transportasi ADI SARANA TRANSPORTASI
Early Gresia Taher, S.H., PT Autopedia Akta Pernyataan Keputusan Para Pemegang Saham PT
30-Jan-24 2
M.Kn. Sukses Gadai AUTOPEDIA SUKSES GADAI
PT Autopedia Penerimaan Pemberitahuan Perubahan Anggaran Dasar PT
31-Jan-24 AHU-AH.01.03-00239307
Sukses Gadai AUTOPEDIA SUKSES GADAI
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b. We have disclosed to you, and the Group has complied with, all aspects of contractual
agreements that would have a material effect on the consolidated financial statements
in the event of noncompliance with all or any covenants, conditions or other
requirements of all outstanding debt.
c. No events of default have occurred with respect to any of the Group’s debt
agreements.
9. Internal Control
a. There are no transactions of a material nature, individually or in the aggregate, that
have not been properly recorded in the accounting records underlying the consolidated
financial statements.
b. There are no significant deficiencies, including material weaknesses, in the design or
operation of internal controls that could adversely affect the Group’s ability to record,
process, summarize, and report financial data. There have been no significant
changes in internal control since December 31, 2023. All reportable conditions and
material weaknesses identified and communicated by you to the audit committee
during your previous audit engagements have been remediated or otherwise
eliminated prior to December 31,2023.
10. Risks and Uncertainties
There are no risks and uncertainties related to significant estimates and current
vulnerabilities due to material concentrations that have not been disclosed.
11. Ownership and Pledging of Assets
a. Except for assets recognized as right-of-use assets under PSAK 73: Leases (since
January 1, 2024 referred to as PSAK 116), the Group has satisfactory title to all assets
appearing in the consolidated statement or financial position, and there are no liens or
encumbrances on the Group’s assets, nor has any asset been pledged as collateral,
other than those that are disclosed in Note 16 and 21 of the consolidated financial
statements. All assets to which the Group has satisfactory title appear in the
consolidated statement of financial position.
b. There were no agreements or commitments to repurchase assets previously sold.
c. There are no formal or informal compensating balance arrangements with any of our
cash and investment accounts.
12. Equity
There are no share capital repurchase options or agreements, or share capital reserved
for options, warrants, conversion, or other requirements.
13. Contingent Liabilities
a. W e are not a w a re o f a n y v io la tio n s o r p o ssible v io la tio n s o f law s o r re g u la tio n s o f w hich
should be considered for disclosure in the consolidated financial statements or as a
B ra n c h e s
PT A d i Sa ra n a Armada Tbk
M edan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 Head Office:
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, L t6
P ekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter,
P a d a ng 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21)6530 8811
Lam pung 0721-471 111 Yogyakarta 0274-282 7333 M a k a ssa r 041 1-880 010 F.(+62-21) 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
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basis for recording a contingent loss (other than those disclosed or accrued in the
consolidated financial statements).
b. We are unaware of any known or probable instances of non-compliance with the
requirements of regulatory or governmental authorities, including their financial
reporting requirements, and there have been no communications from regulatory
agencies or government representatives concerning investigations or allegations of
non-compliance, except as follows:
(1) Matters of routine, normal, recurring nature (e.g., examinations by bank and
insurance examiners, examinations by taxing authorities) none of which involves
any allegations of noncompliance with laws or regulations that should be
considered for disclosure in the consolidated financial statements or as a basis for
recording a loss contingency.
14. Purchases and Sales Commitments
a. At the December 31, 2023, the Group had no unusual commitments or contractual
obligations of any sort which were not in the ordinary course of business and which
might have an adverse effect upon the company (e.g., contracts or purchase
agreements above market price; repurchase or other agreements not in the ordinary
course of business; material commitments for the purchase of fixed assets; significant
foreign exchange commitments; open balances on letters of credit; purchase
commitments for inventory quantities in excess of normal requirements or at prices in
excess of the prevailing market prices; losses from fulfillment of, or inability to fulfill,
sales commitments, etc.).
b. Losses arising from purchase and sales commitments have been properly recorded
and adequately disclosed in the consolidated financial statements.
15. Income and Indirect Taxes
a. We acknowledge our responsibility for the tax accounting methods adopted by the
Group, which have been consistently applied in the current period, and for the current
year income tax provision calculation.
b. We also acknowledge our responsibility for the plans with respect to future taxable
income, which represent our estimates as to the outcome of those plans, based on
available evidence, and for the significant assumptions used in our analysis. We would
implement such strategies as necessary to prevent a tax operating loss or credit
carryforward from expiring.
c. We have disclosed to you all tax opinions, correspondence with tax authorities, or other
appropriate information that served as support for the accounting for potentially
material matters.
d. We have also provided you with all tax opinions with respect to potentially material
items that served as support for our tax accruals, as well as any tax opinions that
co n tra d ic te d , o r p ro vid e d lo w e r levels o f a ssu ra n ce than, the o p tio n s u ltim a te ly used
to support our tax positions.
B ra n c h e s
PT Adi Sarana Armada Tbk
M edan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 Head Office:
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, LL6
Pekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter,
P a d a ng 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21)6530 8811
La m p u ng 0721-471 111 Yogyakarta 0274-282 7333 M akassar 0411-880 010 F.(+62-21) 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
Page 12
assa
e. Current tax expense is provided based on the estimated taxable income for the year.
Deferred tax assets and liabilities are recognized for temporary differences between
the financial and the tax bases of assets and liabilities at each reporting date. Future
tax benefits, such as the carry-forward of unused tax losses, are also recognized to
the extent that realization of such benefits is probable.
f. Deferred tax assets and liabilities are measured at the tax rates that are expected to
apply to the period when the asset is realized or the liability is settled, based on tax
rates (and tax laws) that have been enacted or substantively enacted at the statement
of financial position date.
g. The deferred tax asset has been determined pursuant to the provisions of PSAK 46:
Income Taxes. The Group reviewed the carrying amount of deferred tax asset at
statement of financial position date and reduced such carrying amount to the extent
that it is no longer probable that sufficient taxable profit will be available to allow the
benefit of part or all of that deferred tax asset to be utilized.
The tax planning strategies that we assumed in determining (or the basis for not
recording) deferred tax assets are prudent and feasible strategies that we would
implement, if necessary, to prevent a tax operating loss carryforward from expiring.
We are responsible for the significant assumptions used in developing the analysis of
future taxable income for purposes of determining the deferred tax assets.
h. We recognize that we are responsible for the Group’s compliance with jurisdictional
tax laws and regulations that are applicable to it. We have identified and disclosed to
your representatives all significant methods of accounting used under the applicable
jurisdictional tax laws and regulations that materially affect the determination of
financial statement amounts.
i. We have provided you all tax opinions or memorandums of law that serve as support
for material tax accruals (including contingencies and determinations of the application
of interest and penalties) as well as any tax opinions or memorandums of law that
contradicted, or provided lower levels of assurance than, the opinions or
memorandums of law ultimately used by the Group to support its tax positions.
j. The annual income tax returns (SPT) have been prepared in accordance with
Indonesian tax laws and regulations and submitted to the Tax Office up to the fiscal
year 2023. The effects of findings of audits and assessments by the tax authorities are
recorded as tax liabilities and expenses in current year income at the moment they
become apparent unless we formally objected to these assessments in case, we
believe they are not based on prevailing Indonesian tax laws and regulations.
k. The entity has filed its income tax return based on the tax amount of the Company
disclosed in the Note 20 to the consolidated financial statements.
16. Use of the Work of a Specialist
W e a g re e w ith th e fin d in g s o f s p e cia lists in e va lu a tin g th e e m p lo y e e b e n e fits liability,
Goodwill impairment and have adequately considered the qualifications of the specialists
B ra n c h e s
PT A d i Sarana Armada Tbk
Medan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, L t6
Pekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter, LRGVV
CERTIFIED
P a d a ng 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21)6530 8811
Lam pung 0721-471 111 Yogyakarta 0274-282 7333 M akassar 0411-880 010 F.J+62-21) 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C
Page 13
assa
in determining the amounts and disclosures included in the consolidated financial
statements and the underlying accounting records. We did not give or cause any
instructions to be given to specialists with respect to the values or amounts derived in an
attempt to bias their work, and we are not otherwise aware of any matters that have had
an effect on the independence or objectivity of the specialists.
17. Financial Instruments
a. The Group has no financial instruments with off-balance sheet risk and financial
instruments with concentrations of credit risk, i.e., derivatives or off-balance sheet
arrangements including:
• Forward foreign exchange contracts
• Futures
• Option contracts
• Interest rate derivatives
• Swap contracts
• Embedded derivatives
• Other derivatives contracts
• Other off- balance sheet instruments
b. All of the above financial instruments have been properly recognized and recorded in
the consolidated financial statements in accordance with PSAK 71, Financial
Instruments (since January 1, 2024 referred to as PSAK 109) and/or PSAK 55,
Accounting for Derivative Instruments and Hedging Activities (since January 1, 2024
referred to as PSAK 239).
c. Furthermore, the following have been properly disclosed in the notes to the
consolidated financial statements:
• the extent, nature, and terms of financial instruments with off-balance-sheet risk
• the amount of credit risk of financial instruments with off-balance-sheet risk and
information about the collateral supporting such financial instruments; and
• significant concentrations of credit risk arising from all financial instruments and
information about the collateral supporting such financial instrument
d. The Group has properly measured ail debt securities at amortized cost, fair value
through other comprehensive income or fair value through profit or loss (FVTPL) after
consideration of the cash flow characteristics test (solely payments of principal and
interest on the principal amount outstanding test) and business model test (hold-to-
collect contractual cash flows, collect contractual cash flows and sell the asset, and
held for sale and other business model) and the designation of, at initial recognition, a
financial asset as measured at FVTPL in accordance with PSAK 71 (since January 1,
2024 referred to as PSAK 109).
e. Any changes made in the valuation technique, or its application used to measure fair
value have resulted in a measurement that is more representative of fair value in the
circumstances.
B ra n c h e s
PT A d i Sarana Armada Tbk
M e d an 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, L t6
P ekanbaru Jakarta 4 Bali 0361-756 999 LPQ/V
Padang
0761-587 000
0751-442 222 Bandung
021-8952 5555
022-751 1188 Balikpapan 0542-733 358
Jl. Yos Sudarso No. 88, Sunter,
Jakarta Utara, 14350, Indonesia
CERTIFIED \ (✓) j
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.I+62-21) 6530 8811
Lam pung 0721-471 111 Yogyakarta 0274-282 7333 M akassar 0411-880 010 F.(+62-21) 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
i
Page 14
assa
18. Fair Value Measurements
a. We believe that the measurement methods including the related assumptions used by
management in determining fair value measurements of financial assets at fair value
are appropriate, in accordance with Indonesian Financial Accounting Standards.
b. We confirm the completeness and appropriateness of disclosures related to fair values
and that these are compliant with the requirements of Indonesian Financial Accounting
Standards.
19. Arrangements with Financial Institutions
Arrangements with financial institutions involving compensating balances or other
arrangements involving restrictions on cash balances and line-of-credit or similar
arrangements have been properly recorded or disclosed in the consolidated financial
statements.
20. Oral or Written Guarantees
There are no oral or written guarantees (other than those reported in the consolidated
financial statements), including guarantees of the debt of others.
21. Non-Current Assets, Including Amortizable Intangible Assets
No events or changes in circumstances have occurred that indicate the carrying amounts
of non-current assets to be held and used, including intangible assets that are subject to
amortization, may not be recoverable. Non-current assets classified as held for sale are
measured at the lower of their carrying amount and their net realizable value.
22. Receivables and Revenues
a. Receivables represent valid claims from customers and only includes amounts the
Group expects to be entitled for goods or services transferred to a customer for the
satisfaction of a performance obligation. A good or service is generally considered to
be transferred when the customer obtains control. All revenue recognized as of the
statement of financial position date has been realized (or is realizable) and earned in
accordance with the criteria under PSAK 72, Revenue Contracts with Customers
(since January 1, 2024 referred to as PSAK 115).
b. We have classified and measured trade receivables classified as Loans and
receivables as of December 31, 2023 which are held to collect contractual cash flows
and give rise to cash flows representing solely payments of principal and interest as
Debt instruments at amortized cost beginning January 1, 2023.
c. We have applied the five-step model established under PSAK 72 (since January 1,
2024 referred to as PSAK 115) to account for revenue arising from contracts with
customers recognized revenue at an amount that reflects the consideration to which
th e C o m p a n y e x p e c ts to be en title d in e x c h a n g e fo r tra n s fe rrin g g o o d s o r se rv ic e s to
a customer.
B ra n c h e s
PT Adi Sarana Armada Tbk
Medan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, L t6
Pekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter, LRQA
Padang 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21) 6530 8811
Lam pung 0721-471 111 Yogyakarta 0274-282 7333 M akassar 0411-880 010 F.(+62-21J 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
Page 15
assa
d. We have exercised judgement, taking into consideration all of the relevant facts and
circumstances when applying each step of the model to contracts with their customers.
We have accounted for the incremental costs of obtaining a contract and the costs
directly related to fulfilling a contract in accordance with PSAK 72 (since January 1,
2024 referred to as PSAK 115).
e. Adequate provision has been made for losses, costs, and expenses that may be
incurred subsequent to the statement of financial position date in respect of sales and
services transferred prior to that date and for uncollectible accounts, discounts,
returns, and allowances, etc., that may be incurred in the collection of receivables at
that date.
f. We have considered the requirements of PSAK 71, Financial Instruments (since
January 1, 2024 referred to as PSAK 109), when assessing the expected credit losses
(ECL) of trade receivables.
g. We have changed the accounting for impairment losses for financial assets by
replacing PSAK’s incurred loss approach in PSAK 55 (since January 1, 2024 referred
to as PSAK 239) with a forward-looking expected credit loss (ECL) approach in
accordance with PSAK 71 (since January 1, 2024 referred to as PSAK 109). We have
recognized an allowance for ECLs for all debt instruments not held at fair value through
profit or loss.
h. We believe that the selection or application of the methods, assumptions and data
used by us have been consistently and appropriately applied.
i. We have adequately disclosed a description of our major revenue generating products
and services, the types of arrangements (including multiple-element arrangements)
used to deliver these products or services, and a description of the revenue recognition
policies applicable to these products or services.
j. We have disclosed to you all sales terms (both express and implied), including all rights
of return or price adjustments and warranty provisions. We have made available to you
all significant contracts, agreements, communications (either written or oral), and other
relevant information pertaining to arrangements with our customers, including
distributors and resellers. These agreements and contracts represent the entire
arrangements and are not supplemented by other agreements either written or oral.
23. Inventories
a. Inventories, including goods that are defective, slow-moving, obsolete, or unusable,
are stated at amounts not in excess of their estimated net realizable values.
b. Physical counts and measurements of inventories were made by competent
employees under the supervision of management, and book records were
appropriately adjusted after giving recognition to cut-off for materials received and
products shipped.
B ranche s
PT Adi Sarana Armada Tbk
6
M edan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 Head Office:
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, Lt6
P ekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter, LR Q A
CERTIFIED
P a d a ng 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350. Indonesia 1UKAS|
“ l - w l
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21)6530 8811 am
La m p u ng 0721-471 111 Yogyakarta 0274-282 7333 M akassar 0411-880 010 F.(+62-21) 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
Page 16
assa
c. Adequate provision has been made for losses that may be incurred upon completion
of unfulfilled contracts at the statement of financial position date. There have been no
reductions of the selling prices of finished goods subsequent to December 31, 2023
and none are contemplated.
d. There are no consigned inventories at statement of financial position date.
e. We have no plans to abandon lines of product or other plans or intentions that will
result in any excess or obsolete inventory, and no inventory is stated at an amount in
excess of net realizable value.
24. Investments in Subsidiaries, Associates, Joint Arrangement and Affiliates
a. We have appropriately consolidated all entities for which we directly or indirectly have
a controlling financial interest.
b. The equity method is used to account for the Group’s investments in the ordinary
shares because the Group has the ability to exercise significant influence over the
investee’s operating and financial policies.
25. Right-of-Use Assets and Lease Liabilities
a. We confirmed that the Group, as a lessee, have recognized a right-of-use assets and
corresponding lease liabilities for almost all lease contracts in accordance with the
lessee accounting model under PSAK 73: Leases (since January 1, 2024 referred to
as PSAK 116).
b. We have initially recognized and measured the lease liability at the amount equal to
the present value of the lease payments during the lease term that are not yet paid
and the right-of-use assets at cost consisting of the initial measurement of the lease
liability, lease payment made to the lessor at or prior to the commencement of the
lease less any incentive received, the initial estimate of restoration cost and any direct
cost incurred by the lessee.
c. We confirmed that, the Group as a lessee, we have reviewed all our lease contracts
and evaluated their terms and conditions if these qualify as lease as defined under
PSAK 73. For those in scope of PSAK 73, we have applied the exemption for those
leases which qualify as short-term and low value assets. For those which did not qualify
for exemption, we have quantified and recorded the right-of-use assets and the lease
liabilities.
d. We confirmed that in quantifying the lease liabilities, we have assessed the lease term
considering our judgment that it is reasonably certain that we will exercise our renewal
option or not exercise our termination option.
e. We believe that the selection or application of the methods, assumptions and data
used by us have been consistently and appropriately applied.
B ra n c h e s
PT A d i S a r a n a Armada Tbk
\&
M e d an 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, Lt.6
Pekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter, LRQA
CERTIFIED
P a d ang 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia U KAS
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 0511-673 0999 T.(+62-21) 6530 8811
La m p u ng 0721-471 111 Yogyakarta 0274-282 7333 M a k a ssa r 041 1-880 010 F.(+62-21) 6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
Page 17
assa
26. Deferred Charges
We believe that all material expenditures that have been deferred to future periods will be
recoverable.
27. Pension Benefits under Current Labor Law
a. We have disclosed to you all significant pension benefits promised and have made
available to you all significant summary plan descriptions, benefit communications and
all other relevant information, including plan changes, that constitute the plan.
b. The pension benefits promised by us has met the minimum employee service
entitlements as specified in Law No. 6/2023 (“Law No. 6”) Penetapan Peraturan
Pemerintah Pengganti Undang-Undang Nomor 2 Tahun 2022 tentang Cipta Kerja
menjadi Undang-Undang, dated March 31, 2023, and the related implementing rules.
c. The actuarial assumptions and methods used to measure pension liabilities and costs
for financial accounting purposes as set out in Note 32, including prescribed
assumptions as set out in Note 32, calculated in accordance with PSAK 24: Employee
Benefits (since January 1, 2024 referred to as PSAK 219) and it represent our best
estimate of future conditions and are appropriate in the circumstances.
d. All pension plan assets qualify as plan assets under PSAK 24.
e. We are responsible for the estimation methods and assumptions used in measuring
pension plan assets reported or disclosed at fair value, including information obtained
from brokers, pricing services or other third parties. Our valuation methodologies have
been consistently applied from period to period. The fair value measurements reported
or disclosed represent our best estimate of fair value as of the measurement date in
accordance with the requirements of PSAK 68: Fair Value Measurement (since
January 1, 2024 referred to as PSAK 113). In addition, our disclosures related to fair
value measurements are consistent with the objectives outlined in PSAK 68.
28. Shareholders
Shareholders are appropriately registered in accordance with the Company's Articles of
Association, notarial deed and applicable laws and decrees governing the rights and
obligations of shareholders.
B ra n c h e s
PT Adi Sarana Armada Tbk
M edan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam
P ekanbaru
P adang
Palembang
La m p u ng
0778-426 001
0761-587 000
0751-442 222
0711-571 0888
0721-471 111
Jakarta 3
Jakarta 4
Bandung
Sem arang
Yogyakarta
021-5795 7773
021-8952 5555
022-751 1188
024-761 2333
0274-282 7333
Surabaya
Bali
Balikpapan
Banjarmasin
M akassar
031-847 6363
0361-756 999
0542-733 358
051 1-673 0999
0411-880 010
Gd. Samudera Kirana, Lt.6
Jl. Yos Sudarso No. 88, Sunter,
Jakarta Utara, 14350, Indonesia
T.(+62-21) 6530 8811
F.(+62-21)6530 8822
LRQA
CERTIFIED
\&
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
I
Page 18
assa
Shareholders include the following:
2023
Jum iah Saham
Ditempatkan dan
D isstor Penuh/ Persentase
Number of Kepem ilikani
Shared issu e d Percentage of
Pemegang Saham and Fully Paid Ownership Jum lah/Am oont Shareholders
Kacem ilikan tli atas 6% setiau pihak Ownership mere than $ % each
PT Adi Dtnamika InvesiM o 851.951.100 23,08% 85.195.110,000 P T Adi Dimmika investindo
FT Oaya Adidpla Mustika 651.400.000 17,65% 65.140.000.000 P T D ays Adtcipta Muatika
.Kami.aas..aa.'?.Jaaaai: Com m issionar and Directors:
Tuan Prodjo Sunarjanto Mr. Prodjo Sunarjanto
Sekar Pantjawati 341.938.300 9,26% 34.193.830.000 Sekar PanQawati
Nyonya £rida 108.071.500 2,93% 10.807.150.000 Mrs. Erida
Tuan Jany Candra 10.000.069 0,27% 1000.006.900 Mr. Jany Candra
Tuan Tjoeng Suyanto 2.150.000 0,06% 215.000.000 Mr. Tjoeng Suyanto
Masyarakat (kepemilikan dt bawah 5%
seltap pihak) 1.725,626.548 46,75% 172.562.654.800 Public (ownership less than 5 % each)
Total 3.691.137.617 100% 389.113.761.700 Total
29. Financial Services Authority (Otoritas Jasa Keuangan or OJK) Regulations
We have complied with the financial statement disclosure requirements as detailed in
OJK Regulation No. VIII.G.7 “Guidelines for the Preparation of Financial Statements”
as stipulated in decision letter No. Kep-347/BL/2012 dated June 25, 2012 on
“Guidelines for Public Company Financial Statement Presentation and Disclosure” and
other OJK regulations which are relevant to the Company (the Group). Further, we
represent that we have complied with all of OJK regulations applicable for a listed entity,
including but not limited to, POJK No. 42/POJK.04/2020 regarding “Affiliated
Transactions and Conflict of Interest of Certain Transactions, POJK
No.17/POJK.04/2020 regarding “Material Transaction and Change in Main Business
Activity” and Rule X.K.1 regarding “Disclosure of Information that should Immediately
be disclosed to the Public” .
30. Segment Information
The information about operating segments included in the Note 35 to the consolidated
financial statements has been prepared and presented in conformity with PSAK 5:
Segment Reporting (since January 1, 2024 referred to as PSAK 108). This information is
consistent with the information used by our chief operating decision maker to evaluate
operating performance of and make resource allocation decisions among business units.
The determination of operating segments, the methods used for allocating items of
profit/loss or assets that are included in segment information for management purposes,
and the accounting principles used, and the presentation of segment information are con
sistent with the preceding year. In addition, differences between the measurements used
in reporting operating segment information and those used in the consolidated financial
statements are adequately disclosed in the notes to the consolidated financial statements.
31. Insurance
In our opinion, the insurance coverage on inventories and fixed assets is adequate to cover
possible losses from fire and other risks.
B ra n c h e s
PT Adi Sarana Armada Tbk
SI
M edan 061-845 3636 Jakarta 2 021-7581 1818 M a la n g 0341-406 363 H e a d O ffice :
Batam 0778-426 001 Jakarta 3 021-5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, Lt.6
P ekanbaru 0761-587 000 Jakarta 4 021-8952 5555 Bali 0361-756 999 Jl. Yos Sudarso No. 88, Sunter, LR Q A
CERTIFIED
P a d a ng 0751-442 222 Bandung 022-751 1188 Balikpapan 0542-733 358 Jakarta Utara, 14350, Indonesia UKAS
Palembang 0711-571 0888 Sem arang 024-761 2333 Banjarmasin 051 1-673 0999 T.I+62-2116530 8811
La m p u ng 0721-471 1 1 1 Yogyakarta 0274-282 7333 M akassar 041 1-880 010 F.(+62-21)6530 8822
Jakarta 1 021-441 8888 Solo 0271-788 9399 M anado 0431-868 899
www.assarent.co.id Solution C enter: 1500-369
Page 19
assa
32. New and/or Revised Accounting Standards Issued But Not Yet Effective
We have not completed the process of evaluating the effects that will result from adopting
PSAK 1: Liabilitas Jangka Panjang dengan Konvenan and Amandemen PSAK 73:
Liabilitas Sewa dalam Jual Beli dan Sewa-balik, as discussed in Note 2 aa. The Group is
therefore has not been able to disclose the effects that adopting those PSAK(s) will have
on its consolidated financial position and financial performance when such PSAK is
adopted.
33. Other Matters
We have appointed only one public accounting firm, KAP Purwantono, Sungkoro & Surja
to audit the PT Adi Sarana Armada Tbk’s consolidated financial statements as of
December 31,2023 for the year then ended.
We understand that your audit was conducted in accordance with Standards on Auditing
established by the Indonesian Institute of Certified Public Accountants and was , therefore,
designed primarily for the purpose of expressing an opinion on the consolidated financial
statements of the PT Adi Sarana Armada Tbk or Company taken as a whole, and that your
tests of the accounting records and other auditing procedures were limited to those that you
considered necessary for that purpose.
Very truly yours,
PT Adi Sarana Armada Tbk
March 27, 2024
(Prodjo Sunarjanto SP)
(Jerry Fandv Tuniungan)
Director
B ra n c h e s
PT A d i Sarana Armada Tbk
Medan : 061-845 3636 Jakarta 2 : 021-7581 1818 M a la n g : 0341-406 363 Head Office:
Batam 0778-426 001 Jakarta 3 . 021 - 5795 7773 Surabaya 031-847 6363 Gd. Samudera Kirana, Lt.6 1—TiZ—1
Pekanbaru : 0761-587 000 Jakarta 4 : 021-8952 5555 Bali . 0361-756 999 LRQA
Padang . 0751-442 222 Bandung . 022-751 1188 Balikpapan . 0542-733 358
Jl. Yos Sudarso No. 88, Sunter,
Jakarta Utara, 14350, Indonesia
1w) 1
Banjarmasin 0511-673 0999 1"SSJJ3" |
Palembang : 0711-571 0888 Sem ara ng 024-761 2333 T.(+62-21)6530 8811
Lam pung 0721-471 111 Yogyakarta : 0274-282 7333 M a k a ssa r 0411 -880 010 F.(+62-21) 6530 8822
Jakarta 1 : 021-441 8888 Solo . 0271-788 9399 Manado : 0431-868 899
Names mentioned 57 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Purwantono
p.1 ×6
unresolved
org
Indonesia Stock Exchange
p.1
unresolved
org
Sarana Armada Tbk
p.1 ×6
unresolved
org
Armada Tbk
p.2 ×3
unresolved
org
Private Company Limited
p.7
unresolved
org
Coldspace PTE Ltd.
p.7 ×2
unresolved
person
Jimmy Tanal
p.7 ×16
unresolved
org
PT Adi Sarana
p.7 ×21
unresolved
org
PT Kargo
p.7 ×3
unresolved
org
PT Adi Sarana Transportasi Keputusan Kemenkumham
p.7
unresolved
org
PT Adi Sarana Transportasi Transportasi AHU-
p.7
unresolved
org
PT Adi Sarana Logistik Terbatas
p.7
unresolved
org
PT Autopedia Sukses
p.7
unresolved
org
Lestari Tbk
p.7
unresolved
org
PT Autopedia Penerimaan Pemberitahuan Perubahan Data
p.8
unresolved
org
PT Tri Adi
p.8 ×2
unresolved
org
Kn. Armada Tbk
p.8 ×2
unresolved
org
Adi Sarana Armada Tbk Christina Dwi Utami
p.8
unresolved
org
PT Duta Mitra
p.8 ×3
unresolved
org
PT Duta
p.8
unresolved
person
Mitra Solusindo Christina Dwi Utami
p.8
unresolved
org
Sarana Investindo Christina Dwi Utami
p.8 ×2
unresolved
person
M. Hum.
p.8
unresolved
org
PT Rekayasa
p.8 ×2
unresolved
org
PT Caroline
p.8 ×2
unresolved
org
Karya Teknologi Christina Dwi Utami
p.8
unresolved
person
Duta Mitra Solusindo Early Gresia Taher
p.8
unresolved
org
PT Autopedia
p.8 ×4
unresolved
org
PT Kriya Gawai
p.9
unresolved
org
PT Krida Gawai
p.9
unresolved
org
PT Surya
p.9
unresolved
org
PT JBA
p.9 ×2
unresolved
org
JBA INDONESIA Early Gresia Taher
p.9
unresolved
org
ADI SARANA TRANSPORTASI Early Gresia Taher
p.9
unresolved
org
PT Adi Dtnamika InvesiM o
p.18
unresolved
org
PT Adi Dtnamika InvesiM
p.18
unresolved
—
FT Oaya Adidpla Mustika
p.18
unresolved
person
Prodjo Sunarjanto Sekar Pantjawati
p.18 ×5
unresolved
person
Nyonya £rida
p.18
unresolved
person
Erida Tuan Jany Candra
p.18
unresolved
person
Jany Candra Tuan Tjoeng Suyanto
p.18 ×5
unresolved
person
Tjoeng Suyanto Masyarakat
p.18
unresolved
—
seltap pihak)
p.18
unresolved
org
Financial Services Authority
p.18
unresolved
org
PT Adi Sarana Armada Tbk’s
p.19
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