Constructing
towards the Future Annual report 2012
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
JASA MARGA Significant Achievements in 2012
jasa marga
Corporate Governance
Management Discussion and Analysis
Management Reports
Significant Achievements in 2012 Improvement in Operational and Financial Performances Transaction Traffic Volume 1.20 billion vehicles increased
10.04%
Net Profit Rp 1.60 billion increased
Operating Revenues Rp 9.07 billion increased
by
33.92%
EBITDA Margin in 2012
67.71% in 2011
by
39.85%
EBITDA Rp 3.87 billion increased
by
Net Profit per Share Rp 235.91 increased
by
23.55%
62.89%
Corporate Social Responsibility
EBITDA Margin
2
by
33.61%
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Human Capital Management
JAS A MA RG A S i g n i f i can t Achi evemen ts in 2012
Improvement in GCG Score
94.59
Management Responsibility for Annual Report 2012
The Company also received the predicate of “Trusted Company” in Corporate Governance Perception Index (CGPI).
Corporate Profile
Information for Investors
The result of Jasa Marga’s GCG Assessment was VERY GOOD with the score of
Constructing towards the Future
Annual Report 2012
3
PT Jasa Marga (Persero) Tbk.
Theme
Management Reports
Performance Highlights 2012
www.jasamarga.com
Management Discussion and Analysis
Constructing towards the Future
2012 for Construction
Corporate Governance
It is in 2012 that seven out of nine of Jasa Marga’s new projects are in the construction phase. Construction has commenced on sections where land available, i.e. section Ungaran-Bawen (12.3 km) of Semarang-Solo Toll Road, section Krian-Mojokerto (18.5 km) of Surabaya-Mojokerto Toll Road, section Gempol-Rembang (13.9 km) of GempolPasuruan Toll Road, Gempol-Pandaan Toll Road (13.6 km), JORR W2 North Toll Road (7.7 km), section Kedung Halang-Kedung Badak (2 km) of Bogor Outer Ring Road Toll Road and Nusa Dua-Ngurah Rai-Benoa Toll Road (10 km), which are potential toll road sections with remarkable prospect. In 2012, we focused on completing the major tasks.
Completing the Preceding Processes
Construction is the process preceded by a series of works that must be completed.
Design Process
Corporate Social Responsibility
The design work commences right after the Toll Road Concession Agreement is signed. During this process, the approved toll road section is considered feasible from the aspects of finance, traffic and environment. The design process begins with toll road ROW (Right of Way) Plan which is the preliminary design encompassing the calculation of toll road ground plan including the planning of the locations of bridges, overpasses, underpasses, drainage channels, to get an estimate of the width of land planned to be used in the toll road development. To obtain such data required in this process, field survey is then conducted.
4
AMDAL Review
To find out whether toll road existence will have positive or negative impact on the environment, AMDAL (Analisa Mengenai Dampak Lingkungan Environmental Impact Analysis) review is then conducted on the planned toll road section. The purpose of the said review is to analyze if the toll road development has major and significant impact on
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Information for Investors
Human Capital Management
Them e
Final Engineering Design
The Final Engineering Design is conducted by involving the team of consultant. The planned design must be effective and efficient while prevailing with the regulation in toll road design as well as other rules and regulations. The design includes the plan of: alignment, type of construction structure and adjustment to ecological condition. Results of the design will be the guidance through the implementation of construction process. There is a possibility however that the design undergo certain changes, provided that the new design has higher value in terms of the ease of implementation, quality of the work resulted, and cost saving (Value Engineering). The implementation of Value Engineering cuts down construction cost since the new design is more economical with shorter period of execution.
In carrying out the construction, Jasa Marga is assisted by team of contractor as construction executor and team of consultant as the party conducting the supervision of construction activities. Each project has its own challenges during its completion depending on the design and the condition of the environment. JORR W2 North Toll Road is located in the center of the city and amidst congested residential area; land acquisition process hence becomes the challenge. Semarang-Solo Toll Road connects two cities and passes mountainous area, valley and plantation; the construction of high and long bridges is therefore the challenge. Nusa Dua-Ngurah Rai-Benoa Toll Road is located above water, designed using pile slabs in which road pavement is supported on foundation piles stacked in the water; the challenge thus comes in the construction implementation method.
Responding to the Challenges for Jasa Marga’s Better Future
We will face and respond to the challenges in carrying out construction by pulling out all the stops and using all resources with the basis of hard work and high spirit for Jasa Marga’s promising prospect and better future.
Constructing towards the Future
Annual Report 2012
Corporate Profile
Construction and its Challenges
Management Responsibility for Annual Report 2012
the environment, during the stages of both construction as well as operation. The estimated negative impact resulted from AMDAL review is expected to be minimized while promoting the positive impact. The carrying out of AMDAL review is one of the feasibility requirements and is made obligatory in the development of toll roads, especially when toll road plan will pass the region recognized as protected areas. After toll road plan is feasible in the environmental aspect, marked with the issuance of environmental license from Environmental Protection Agency (Badan Lingkungan Hidup), the process of final engineering design is then ready to proceed.
5
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Correlation of Themes
Correlation of Themes Annual Report 2011 “Non-Stop Services”
Management Reports
Jasa Marga keeps making improvements in services to provide the best possible services to the users of its toll roads. Improvements in toll road services are conducted starting from the time toll road users start using toll
Management Discussion and Analysis
roads, while on toll roads, and as they exit toll roads.
Annual Report 2010 “Sustainable Growth” Growth and profit is the key to be the modern Jasa Marga. Efficiency and productivity of high quality represents the implementation that we have been carrying out. With a firm financial basis, prospective assets, competent human resources as well as solid and trustworthy management, we are fully confident
Corporate Governance
that Jasa Marga will have a sustainable growth.
Annual Report 2009 “Changing to Keep Growing and Moving Forward”
Corporate Social Responsibility
Change is bound to happen for sure, hence we constantly make improvements
6
and we disseminate them in various things. We continuously promote and communicate the attitudes and values of learning, creating and sharing towards improvements to all staff members of the Company. With the full support from all stakeholders of the Company, the change that we are carrying out today will transform into the Ever-Growing and Improving Jasa Marga.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Reasons
Why Invest in
jasa marga
Market Leader in Toll Road Industry --
Operating 73% of the total length of toll roads (km) in
4
JSMR is Included in All Preferred Indices --
Index), Kompas100, Bisnis27, Sri-Kehati, ISSI (Indeks Saham Syariah Indonesia) and
Indonesia. --
Local Indices: LQ45, JII (Jakarta Islamic
IDX30.
81% of the average daily traffic
--
uses toll roads operated by Jasa
International Indices: ASEAN Star Exchange, FTSE (The Financial Times Stock Exchange)
Marga.
and MSCI (Morgan Stanley Capital International) Global Standard Index.
--
Located in big cities: Jakarta, Surabaya, Semarang, Bandung and Medan.
--
5
Jasa Marga’s Business Characteristics are Defensive and Resistant to Fluctuated Condition of Global Economy Corporate Profile
2
Operating Toll Roads in Strategic Locations
Toll roads operated are interconnected.
Strong Commitment to GCG Implementation --
Score of GCG Assessment reaching 94.59.
--
Received predicate of Trusted
Management Responsibility for Annual Report 2012
3
Information for Investors
51
Human Capital Management
Five Reasons Why Invest in JASA MARGA
Company from Indonesian Institute of Corporate Governance (IICG). --
Awarded Best Equitable Treatment of Shareholders from Indonesian Institute for Corporate Directorship (IICD).
Constructing towards the Future
Annual Report 2012
7
PT Jasa Marga (Persero) Tbk.
Table of Contents 02
JASA MARGA SIGNIFICANT ACHIEVEMENTS IN 2012
04 06 07 08
THEME
11
PERFORMANCE HIGHLIGHTS 2012
12 14 16 20 22 24 26 28 30 32
Corporate Identity
35
MANAGEMENT REPORTS
36 42
Board of Commissioners Report
47
MANAGEMENT DISCUSSION & ANALYSIS
48 70 85
Operational Review
CORRELATION OF THEMES FIVE REASONS WHY INVEST IN JASA MARGA TABLE OF CONTENTS
Vision and Mission Corporate Strategies Corporate Values Financial Highlights Operational Highlights Stocks Highlights Bonds Highlights Significant Events in 2012 Awards and Certifications
Directors Report
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
8
Customers Focused Financial Review
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
111
CORPORATE GOVERNANCE
112
Basis and Implementation of Good Corporate Governance (GCG) in Jasa Marga Results of Assessment of GCG Implementation Structure and Mechanism of Corporate Governance Implementation
126 132 141
General Meeting of Shareholders
148
Relationship between Board of Commissioners and Directors Assessment of Board of Commissioners and Directors
150 159 160 162 166 167 180 186 190 190 192 193
Directors
Committees Secretary of the Board of Commissioners Corporate Secretary Internal Auditing Unit Internal Control System Risk Management Report Material Litigation Code of Conduct and Corporate Culture Equal Treatment to All Shareholders Procurement of Goods and Services The Company’s Accountant Whistleblowing System
Corporate Profile
149
Board of Commissioners
Information for Investors
122
197
CORPORATE SOCIAL RESPONSIBILITY
198 199 201 204 210
Strategy and Policy Ecological Responsibility Labor and Occupational Safety & Health Social and Community Development Responsibility to Customers
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
119
Human Capital Management
Tabl e of Contents
9
PT Jasa Marga (Persero) Tbk.
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
10
Table of C on ten ts
211
HUMAN CAPITAL MANAGEMENT
212 215 216 218 221
Development of Organization
227
INFORMATION FOR INVESTORS
228
Chronology of Jasa Marga Shares Listing and Bonds Issuance
230 230 232 234
Dividend Payment
235
CORPORATE PROFILE
236 240 241 242 243 245 246 250 254
About Jasa Marga
256
Profile of Business Risk and Investment Committee
258 258 259 262
Profile of Corporate Secretary
263
Addresses of Jasa Marga Head Office, Branch Offices and Subsidiaries
265
MANAGEMENT RESPONSIBILITY FOR ANNUAL REPORT 2012
267
CONSOLIDATED FINANCIAL Statements
386
GLOSSARY
387
CROSS REFERENCE TO BAPEPAM-LK REGULATION NO. X.K.6
Development of Human Capital Structure of Human Capital Management Profile of Jasa Marga Human Capital Training and Development Programs
Ownership of Jasa Marga Shares (JSMR) Investor Relations Access to Corporate Information and Data
Jasa Marga’s Milestone Locations of Jasa Marga’s Toll Roads Corporate Structure Profile of Subsidiaries Organizational Structure Profile of Board of Commissioners Profile of Directors Profile of Audit Committee
Profile of Head of Internal Auditing Unit Jasa Marga Key Personnel Institutions and Supporting Professionals
Annual Report 2012
Constructing towards the Future
Perfomance Highlights 2012 Annual Report 2012
www.jasamarga.com
PT Jasa Marga (Persero) Tbk.
Corporate Identity
Management Discussion and Analysis
Management Reports
Performance Performance Highlights Highlights 2012 2012
www.jasamarga.com
Company Name PT Jasa Marga (Persero) Tbk. Corporate Governance
Incorporated in Jakarta
Date of Establishment 01 March 1978
Legal Basis of Establishment
Government Regulation No. 04 of 1978
Authorized Capital Rp 9.52 trillion Corporate Social Responsibility
Issued & Fully Paid Capital
12
Rp 3.4 trillion
Ownership Government of Indonesia 70% Public 30%
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012
Information for Investors
Human Capital Management
Corp orate Identity
1. Performing technical planning, construction, operation and/or maintenance of toll roads. 2. Developing the land in toll roads’ right of way (ROW) areas and the land adjacent to toll roads’ ROW for rest and services areas along with the facilities and other businesses, either solely or in cooperation with other parties.
Share Listing Information Stock Exchange: IDX, quote JSMR since 12 November 2007 Bloomberg: JSMR IJ Reuters: JSMR.JK
Head Office PT Jasa Marga (Persero) Tbk. Plaza Tol Taman Mini Indonesia Indah Jakarta 13550
Supporting Business Activities
Indonesia
1. Developing property in areas near toll road corridor.
Tel.: 62-21 841 3526, 841 3630
2. Developing services for businesses related to
Fax.: 62-21 841 3540
modes/means of transportation, distribution
Email:
[email protected],
of liquid/solid/gas material, information facility
Website: www.jasamarga.com
network, technology and communication, in relation to toll road corridor. 3. Developing the fields of trade and services for
Jasa Marga Traffic Information Center (JMTIC) 62-21 8088 0123
construction, maintenance and toll road operation.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Core Business
Corporate Profile
Tam an Mi n i I n d on es i a I n d ah I n terc ha nge, Jag or aw i Tol l Road
13
PT Jasa Marga (Persero) Tbk.
Vision and Mission
Process of Forming Vision and Mission
Management Reports
Performance Performance Highlights Highlights 2012 2012
www.jasamarga.com
Management Discussion and Analysis
NEEDS AND EXPECTATIONS OF STAKEHOLDERS
DIRECTORS AND BOARD OF COMMISSIONERS
STRATEGIC CHANGES IN EXTERNAL SURROUNDING AND BUSINESS OPPORTUNITIES
Corporate Social Responsibility
Corporate Governance
VISION AND MISSION
14
Annual Report 2012
Constructing towards the Future
ACHIEVEMENTS OF THE COMPANY’S PERFORMANCE AND INTERNAL STRENGTHS
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012 Vi s i on and M issio n
To become a modern company in the development and operation of toll roads, to maintain its position as the leader of the toll road industry in Indonesia by operating the majority of Indonesian toll roads and to become a highly competitive company in both national and regional scales.
Mission
Continuously developing new toll roads to maintain its leading position of operating at least 50% of the total toll road length in Indonesia, along with other related businesses, by making the best use of the Company’s financial strength. Improving its service quality as well as efficiency by applying proper technology and modern management principles. The above Vision and Mission has been approved by the Board of Commissioners and Directors following the Decision of the Directors No. 194/KPTS/2009 dated 08 December 2009. Stages in Forming the Vision and Mission
Corporate Profile
Vision
Information for Investors
Human Capital Management
To communicate the objectives and benefits of its existence, along with its long-term targets, the Company then decided the Vision and Mission to confirm its targets and objectives
1. Directors evaluate the Company’s achievements of performance and internal strength. 2. Directors evaluate the strategic changes in the Company’s external surroundings and consider future business opportunities. 4. While considering Internal Strengths and External Opportunities as well as stakeholders expectations, Directors form the Vision and Mission of the Company. 5. The Vision and Mission is then submitted to and evaluated by the Board of Commissioners to be decided and agreed together by both the Board of Commissioners and the Directors. 6. Directors decide the Company’s Vision and Mission through Decision Letter of the Directors. The Board of Commissioners and Directors evaluate the achievement of the Company’s Vision and Mission Annually.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
3. Directors evaluate and identify the needs and expectations of the stakeholders.
15
PT Jasa Marga (Persero) Tbk.
Corporate Strategies
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Performance Highlights Highlights 2012 2012
www.jasamarga.com
To achieve its Vision and Mission, the Company develops the following strategies:
Development Strategies
Financial Strategies
Adding more toll roads as well
Maximizing the Company’s
as other related businesses to
financial strength to obtain fund
give profit to the Company
Corporate Social Responsibility
at the lowest cost
16
Human Capital & General Affairs Strategies Improving business processes along with the productivity and
Operational Strategies Operating toll roads modernly to secure revenues by keeping
competency of the Human Resources
Annual Report 2012
Constructing towards the Future
enhancing efficiency and the quality of services
VISION AND MISSION OF THE COMPANY
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012
Development Strategies To maintain its position as the market leader in toll road
Furthermore, in order to maximize its assets, the
industry, the Company consistently makes the efforts
Company also develops other businesses related
in adding the length of its toll roads to its portfolio by
toll road development and operation by developing
developing new toll roads that are connected to the ones
business on toll road corridors and making the best use
already in operation.
of the Company’s competencies. This is carried out by
Human Capital Management
Corp orate Strategies
capitalizing available space into commercial areas, such as property or fiber optic network. The non-toll road
winning tender, the Company also acquires new potential
businesses are carried out either independently or by
toll roads whose concession holders have problems that
involving business partners.
Information for Investors
In adding to the length of its toll roads, apart from
impede the toll roads construction, especially those located in major cities with high economic value and ones that are connected to existing toll roads operated by Jasa Marga/its Subsidiaries. The Company also proposes new
NON-TOLL ROAD DEVELOPMENT STRATEGIES
•
Participating in tenders (organic).
•
Acquiring new toll road sections not yet developed.
•
Proposing new toll road sections to be developed (unsolicited).
•
Management Responsibility for Annual Report 2012
TOLL ROAD DEVELOPMENT STRATEGIES
Corporate Profile
toll road sections to be developed (unsolicited).
Optimizing assets in the corridors of toll roads operated.
•
Selecting competent partners to support non-toll road business development.
Constructing towards the Future
Annual Report 2012
17
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Corp or a te S tr a teg ies
Autom ated Tol l B oot h (Ga rdu Tol O tom at i s – GTO ) at C i l ilita n Toll Ga te, C awan g -Tom an g - C en g ka r eng Toll Roa d
Modern toll road services of high quality are provided by the Company by converting human-based into technology-based system, which is seen in the implementation of e-Toll Card, automated toll booths and e-Toll Pass.
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Performance Highlights Highlights 2012 2012
Per for ma n ce Hig h ligh t s 2 01 2
Operational Strategies
18
Annual Report 2012
From the operational point of view, the Company focuses
modernization conducted by the Company is seen in
on providing modern toll road services of high quality.
the implementation of e-Toll Card, automated toll booths
The Company keeps improving its services by converting
(Gerbang Tol Otomatis – GTO) and e-Toll Pass.
human-based into technology-based system. The
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012
road users as they no longer need cash in making toll transaction. The e-Toll Card technology will continue to be further developed as part of Jasa Marga’s commitment to providing services that facilitate toll road users in making transactions while adding more GTOs for convenient transaction with e-Toll Card. Jasa Marga also implements an effective and integrated traffic communication and information system by intensifying the use of CCTV (closed-circuit television) cameras to find out real time condition of traffic, speeding up the process of getting information on traffic condition from VMS (Variable Message Sign) and Jasa Marga Traffic Information Center, resulting in faster response time as the field officers are able to give swift, accurate and real time information to toll road users. To support all of the above strategies, the Company has performed various policies related to the funding and organization management functioning as the support in carrying out its business strategies.
Human Capital Strategies
&
General
Affairs
To support its growth, the Company performs organization development and prepares the needs for human resources by conducting recruitment of new employees and providing training to improve employees competencies. Furthermore, to support operational strategies, the Company improves the systems and procedures in order to increase operational performance while conducting efficiency. The Company also organizes training to advance the service quality and employees productivity. The strategy in the aspect of organization is carried out by making the head office the investment holding company and making the Subsidiaries/Branch Offices the SBU (Strategic Business Unit). With this strategy, most of operational authorities at the head office are delegated to branch offices/subsidiaries, therefore, the decision making process becomes more effective and efficient. As an effort to endorse its employees to keep presenting
Financial Strategies As its strategy in funding, the Company prepares and
Information for Investors
provides faster transaction service and facilitates toll
their best performance, the Company implements competency-based remuneration system, which is adapted from best industry practices.
supports organic growth by diversifying debt instruments.
Corporate Profile
The implementation of electronic transaction system
Human Capital Management
Corp orate Strategies
In addition, the Company also prepares its financial structure to support non-organic growth.
Management Responsibility for Annual Report 2012
The Company’s funding sources come from internal cash flows (toll revenue), while external funding is carefully selected from the most efficient sources and it is used as needed. The external source of funding derives from capital market, banking and money market. When new toll roads are operated, bank loans will be refinanced from other long-term investments such as bond issuance with longer tenor.
Constructing towards the Future
Annual Report 2012
19
PT Jasa Marga (Persero) Tbk.
Corporate Values
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Performance Highlights Highlights 2012 2012
www.jasamarga.com
Corporate Values To Have Integrity Always carrying out the duties honestly and responsibly while maintaining work ethics only for the benefits of
pride and love for the job and the Company.
Expected attitudes:
Expected attitudes:
a. To work only for the benefits of the Company. interests of other than the Company’s. c.
Corporate Social Responsibility
Having high spirit and passion in working that is based on
the Company.
b. To never misuse the authority, i.e. using it for the
20
To Have Passion for the Job
To be responsible and to always be able to explain the reasons behind the decisions and measures taken in carrying out the duties.
d. To apply work ethics at all times. e. To constantly become the role model for the surroundings.
Annual Report 2012
Constructing towards the Future
a. To have high spirit and strong will to always do the best in the respective fields. b. To love the job and to always develop positive-thinking attitudes in working. c.
To have high awareness of the Company’s predicaments.
d. To take pride in the Company as the realization of being proud of the country. e. To constantly produce the work of the best quality.
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012
To Build Trust
Always learning new things and daring to try new ideas
Believing in good will and always being trustworthy in
and better ways of work for the Company’s improvement.
carrying out the duties.
Expected attitudes:
Expected attitudes:
a. To always be curious and to learn new things for the
a. To believe in good will.
Company’s improvement.
b. To always build trust among all levels of the
b. To look things forward and to constantly make efforts to take the Company to a higher level. c.
To dare to try new things for the sole purpose of improving the quality of processes and products of the Company.
Company. c.
To avoid being fragmented by constantly helping each other to bring benefits to the Company only.
d. To be service-oriented by providing the best service to earn customers’ trust.
Constructing towards the Future
Annual Report 2012
Corporate Profile
To be Eager to Learn
Management Responsibility for Annual Report 2012
To reach its Vision and Mission, the Company has Corporate Values that are continuously socialized to all Jasa Marga Individuals.
Information for Investors
Human Capital Management
Corp orate Values
21
PT Jasa Marga (Persero) Tbk.
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Performance Highlights Highlights 2012 2012
www.jasamarga.com
Financial Highlights Table Financial Highlights DESCRIPTION
(in million Rupiah, unless otherwise stated) 2011 Restated
2012
2010
2009
2008
Consolidated Statements of Comprehensive Income Operating Revenues
9,070,219
6,485,771
4,378,584
3,692,000
3,353,632
Operating Expenses
6,094,983
4,155,307
2,390,392
2,175,779
1,982,008
Operating Income
2,975,235
2,330,464
1,988,192
1,516,221
1,371,624
Earning Before Tax
2,055,256
1,590,175
1,476,349
1,093,894
945,822
Estimated Income Tax
(519,444)
(410,893)
(291,854)
(211,682)
(223,922)
Income for the Year Attributable to Owner of the Parent
1,602,090
1,196,308
1,193,486
992,694
707,798
Income for the Year Attributable to Non-Controlling Interest
(66,278)
(17,027)
(8,991)
(14,507)
(14,102)
Total Income (Loss) for the Year
1,535,812
1,179,281
1,184,495
978,187
693,696
Comprehensive Income Attributable to Owner of the Parent
1,602,624
1,197,526
1,195,027
994,221
708,507
(66,278)
(17,027)
(8,991)
(14,507)
(14,102)
Total Comprehensive Income (Loss)
1,536,346
1,180,499
1,186,036
979,714
694,404
EBITDA
3,876,790
3,137,758
2,555,241
2,022,214
1,807,400
Comprehensive Income Attributable to Non-Controlling Interest
Consolidated Statements of Financial Position Total Assets
24,753,551
20,915,890
18,952,129
16,174,264
14,642,760
Total Liabilities
14,965,765
12,555,380
10,592,664
8,428,823
7,758,937
Total Equity
9,787,785
8,360,509
8,359,466
7,183,379
6,572,008
Capital Expenditure
1,832,430
2,304,018
1,180,960
1,604,907
1,166,178
175,745
200,921
201,271
207,485
26,426
6,800,000
6,775,477
6,775,477
6,775,477
6,791,242
235.91
176.56
176.14
146.50
104.11
*
78.88
105.69
87.91
52.23
Return on Equity
16.37
14.31
14.28
13.82
10.77
Return on Assets
6.47
5.72
6.30
6.14
4.83
Net Profit Margin
17.66
18.45
27.26
26.89
21.11
Current Ratio
68.16
98.21
165.04
115.64
315.77
Debt to Equity Ratio
152.90
150.00
126.71
117.34
118.06
Debt to Assets Ratio
60.46
60.03
55.89
52.11
52.99
Total Investment in Associate Companies Data on Stocks Number of Shares Outstanding (thousand shares) Net Income per Share (full Rupiah amount) Dividend per Share (full Rupiah amount)
Corporate Social Responsibility
Financial Ratios (%)
22
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012 Fi n an ci al Highlights
2011 Restated
2012
2010
2009
2008
Growth (%) 39.85
13.29
Operating Income
27.67
14.75
EBITDA
23.55
15.76
Net Income
33.92
12.23
Total Assets
18.35
13.09
Equity
17.07
10.54
Revenues
18.60
10.09
26.79
31.13
10.54
35.01
26.36
11.89
31.01
20.23
40.25
91.01
17.17
10.46
5.75
7.75
9.30
9.99
Human Capital Management
DESCRIPTION
EBITDA: Earnings Before Interests, Tax, Depreciation and Amortization *) Will be decided at GMS in 2013
(Rp trillion) Information for Investors
Chart Performances of Operating Revenues, Operating Income and Income for the Year Attributable to Owner of the Parent 2008-2012
9.07
6.48
4.37 3.69
1.19
0.99
0.70 2008
2009
2010
Operating Revenues Operating Income Income for the Year Attributable to Owner of the Parent
1.60
1.19 2011 Restated
Corporate Profile
1.98
1.51
1.37
2.97
2.33
2012
Chart Total Assets 2008-2012 (Rp trillion)
Chart EBITDA 2008-2012 (Rp trillion)
24.75 20.91 18.95 3.13
3.87 16.17
2.55 14.64
2.02 1.80
‘08
‘09
‘10
‘11
restated
‘12
‘08
‘09
‘10
‘11
restated
Management Responsibility for Annual Report 2012
3.35
‘12
Constructing towards the Future
Annual Report 2012
23
PT Jasa Marga (Persero) Tbk.
Operational Highlights
Management Discussion and Analysis
Management Reports
Performance Performance Highlights Highlights 2012 2012
www.jasamarga.com
Operational Highlights
Corporate Social Responsibility
Corporate Governance
Table Operational Highlights 2008-2012
24
Description
2012
Length of Toll Road (km) Transaction Traffic Volume (vehicles)
2011 545
2010
2009
2008
545
531
531
527
1,201,365,918 1,091,779,125
956,890,398
916,483,171
880,057,037
SPM Accomplishment
Fulfilled
Fulfilled
Fulfilled
Fulfilled
Fulfilled*
Number of Permanent Employees (People)
5,075
5,154
5,303
5,443
5,489
Number of Toll Collectors Including Outsourced (People)
4,724
3,805
3,653
3,552
3,514
780
889
830
826
773
3,637,471
3,622,817
3,016,055
2,664,123
2,388,044
Average Transaction per Toll Collector per Day (Times) Average Toll Revenue per Toll Collector per Day (Rp)
* Except for Jakarta-Cikampek Branch in 2008, fulfilled 92.1% for ROW Fence. Note: SPM = Minimum Level of Service
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012
Management Responsibility for Annual Report 2012
Corporate Profile
Information for Investors
Human Capital Management
Op erat i on al Highlights
C i kamp ek- P ur wakar t a- Pad al aran g ( C i p ul ar an g ) Tol l Road
Constructing towards the Future
Annual Report 2012
25
PT Jasa Marga (Persero) Tbk.
Management Reports
Performance Performance Highlights Highlights 2012 2012
www.jasamarga.com
Stocks Highlights Table Information on Quarterly Share Price in 2011 and 2012 2012 DESCRIPTION
Management Discussion and Analysis Corporate Governance
4Q
3Q
2Q
1Q
High
5,950
6,000
5,700
5,150
Low
5,450
5,300
4,875
4,125
Close
5,450
5,850
5,400
5,150
10,019,500
10,731,500
8,058,500
17,973,000
54,606,275,000
62,779,275,000
43,515,900,000
92,560,950,000
6,800,000,000
6,800,000,000
6,800,000,000
6,775,476,500
Volume Value Number of Shares Outstanding (Shares) Market Capitalization
37,060,000,000,000 39,780,000,000,000 36,720,000,000,000 34,893,703,975,000
Note: In the Second Quarter of 2012, the Company sold 24,523,500 shares of treasury stock from buyback program.
(in Rupiah) 2011 DESCRIPTION
4Q
3Q
2Q
1Q
High
4,275
4,275
3,650
3,575
Low
3,550
3,400
3,250
2,925
Close
4,200
3,975
3,625
3,400
2,323,500
6,335,500
16,022,000
10,509,500
Value
9,758,700,000
25,183,612,500
58,079,750,000
35,732,300,000
Number of Shares Outstanding (Shares)
6,775,476,500
6,775,476,500
6,775,476,500
6,775,476,500
Volume
28,457,001,300,000 26,932,519,087,500 24,561,102,312,500 23,036,620,100,000
Corporate Social Responsibility
Market Capitalization
26
(in Rupiah)
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012 S tocks Highlights
Closing Price JSMR IJ Equity JCI Index JAKINFR Index
6,000
5,450 4,316 907
5,450 5,000
4,316 4,000
Human Capital Management
Chart Movement of JSMR Share Price, Jakarta Composite (JCI) Index and Infrastructures Share Price Index at Indonesia Stock Exchange (JAKINFR Index) 2011-2012
2,000
1000 907
3Q
4Q
1Q
2011
2Q
3Q
4Q
2012
Corporate Profile
2Q
Jasa Marga Shares are included in several share indices that are part of JCI Index, Regional Index and Global Index, as follows:
SRI-KEHATI (Indonesian Biodiversity) Index
LQ45 Index JII ISSI IDX30
KOMPAS100 Index
BISNIS27 Index
Asean Exchanges Index
FTSE (The Financial Times Stock Exchange)
Constructing towards the Future
MSCI (Morgan Stanley Capital International) Global Standard Index
Annual Report 2012
Management Responsibility for Annual Report 2012
1Q
Information for Investors
3,000
27
PT Jasa Marga (Persero) Tbk.
Bonds Highlights
Management Discussion and Analysis
Management Reports
Performance Performance Highlights Highlights 2012 2012
www.jasamarga.com
Obligasi Beredar Jasa Marga Infomasi Harga Saham (dalam Rupiah kecuali dinyatakan lain)
Corporate Social Responsibility
Corporate Governance
Table Jasa Marga Outstanding Bonds 2011
28
No.
Bond **
1.
Jasa Marga XI (P)
2.
JORR I *
as of 31 December
Par Value (Rp Million)
Coupon
Year of Maturity
Rating
1,000,000
12.30%
2013
274,260
SBI 3-month average
2013
-
AA
3.
JORR II (A) *
77,377
15.25%
2016
-
4.
JORR II (B) *
77,377
15.25%
2018
-
5.
JORR II (C) *
104,400
15.50%
2021
-
6.
Jasa Marga XII (Q)
1,000,000
13.50%
2016
id
AA
7.
Jasa Marga XIII (R)
1,500,000
10.25%
2017
id
AA
8.
Jasa Marga XIV (JM-10)
1,000,000
9.35%
2020
id
AA
9.
Jasa Marga I (JM-10)
500,000
Zero Coupon
2013
id
AA
* Not Listed ** All Jasa Marga Bonds are listed at Indonesia Stock Exchange
Rating Definition id
id
AA rating represents obligor’s very strong capacity to fulfill its long-term financial liabilities relative
to other Indonesian obligors.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012
No.
Bond **
1.
Jasa Marga XI (P)
2.
JORR I *
3.
JORR II (A) *
4.
JORR II (B) *
5.
JORR II (C) *
6.
Jasa Marga XII (Q)
as of 31 December
Par Value (Rp Million) 1,000,000
Coupon
Year of Maturity 2013
77,377
12.30% SBI 3-month average 15.25%
77,377
274,260
Rating id
AA
2013
-
2016
-
15.25%
2018
-
104,400
15.50%
2021
-
1,000,000
13.50%
2016
AA id
7.
Jasa Marga XIII (R)
1,500,000
10.25%
2017
id
AA
8.
Jasa Marga XIV (JM-10)
1,000,000
9.35%
2020
id
AA
9.
Jasa Marga I (JM-10)
500,000
Zero Coupon
2013
id
AA
* Not Listed ** All Jasa Marga Bonds are listed at Indonesia Stock Exchange
Rating Definition id
AA rating represents obligor’s very strong capacity to fulfill its long-term financial liabilities relative
to other Indonesian obligors.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Table Jasa Marga Outstanding Bonds 2012
Corporate Profile
Information for Investors
Human Capital Management
B on ds Highlights
29
PT Jasa Marga (Persero) Tbk.
Performance Performance Highlights Highlights 2012 2012
www.jasamarga.com
Significant Events in 2012 30 January 2012 Jasa Marga Convened Extraordinary General Meeting of Shareholders Extraordinary General Meeting of Shareholders (GMS) of PT Jasa Marga (Persero) Tbk. held at the Grand Ballroom of The
Management Reports
Dharmawangsa Hotel has decided the Company’s new Directors and Board of Commissioners. The decision ended the extension of the period of service of the previous Directors and Board of Commissioners that was scheduled to end at Annual GMS
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
in June 2011.
29 February 2012 Jasa Marga Planned to Build Sumatera Toll Road Located in Ruang Rapat Utama of Jasa Marga Head Office, the MoU for the preparation of the plan to cooperate in the development of Sumatera Toll Road was signed by Jasa Marga and the Provincial Government of North Sumatera. The MoU was signed by Deputy Governor of North Sumatera Gatot Pujo Nugroho and President Director/CEO of Jasa Marga Adityawarman.
14 March2012 West NEXCO Visited Jasa Marga West Nippon Expressway West Nippon Expressway Company Limited (West NEXCO) held a meeting with Jasa Marga discussing the cooperation in knowledge exchange, to follow up the MoU signed on 29 March 2010. Representing West NEXCO were Yasuo Hozaki, Executive Officer and Yasihihiro Wada, Chief Representative for Indonesia Representative Office.
16 April 2012
10 May 2012
05 June 2012
State Minister for SOEs Sold
Jasa Marga Received Service
Jasa Marga was Awarded by MURI
e-Toll Card
Quality Award
Indonesia World Records Museum
State Minister of SOEs Dahlan
Jasa Marga was named the best
(Museum Rekor Dunia Indonesia –
Iskan, together with Directors
toll road operator for the fourth
MURI) awarded Jasa Marga as the
of Jasa Marga and Directors of
time in Service Quality Award
implementer and owner of Solar
Bank Mandiri sold e-Toll Card at
2012 held by Centre Customer
Cell Lamps for Public Street Lighting
Cililitan Toll Gate. This activity
Satisfaction and Loyalty (CARRE-
installed at the longest on toll road
successfully promoted the use of
CCSL) and Service Excellence
throughout Indonesia. The MURI
e-Toll Card.
Magazine (Marketing Group) at
certificate was presented at the
Mulia Hotel.
Ballroom of Ritz Carlton Pacific Place Hotel. Jasa Marga has installed 1,800 solar cell lights on CawangTomang-Cengkareng Toll Road. Installed on toll road for as long as 38 km, the lights started to operate on 20 May 2012.
30
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012
Jasa Marga Received Award from SRI KEHATI Jasa Marga was awarded Sustainable and Responsible Investment Index (SRI) KEHATI Appreciation 2012 in Indonesia Green Achievement 2012 at Shangri-La Hotel, Jakarta. The event was organized by SWA Magazine in cooperation with Yayasan Keanekaragaman Hayati – KEHATI (Indonesian Biodiversity Foundation).
Jasa Marga’s Assisted SMEs
04 October 2012
Participated in Indonesia Expo
Jasa Marga Received Korporasi
III in Jordan
Peduli Lingkungan Award
Jasa Marga included its Assisted
To commemorate Social Solidarity
SMEs to promote their products
Day, team of assessors of KSN
in Indonesia Expo III at Al Hussein
(National Social Solidarity) Awards
Youth City Club, Amman, Jordan,
2012 gave appreciation and
together with six other SOEs,
award to Jasa Marga for Korporasi
i.e. Sarinah, Perusahaan Gas
Peduli Lingkungan (Corporate with
Negara (PGN), Askes, Pertamina,
Environmental Awareness) category
Perusahaan Listrik Negara (PLN),
at Cendrawsih Hall, Jakarta
and Telkom.
Convention Center (JCC).
19 October 2012
23 October 2012
Jasa Marga Received Infobank
Jasa Marga Participated
Jasa Marga Received Award at ICQCC Kuala Lumpur Jasa Marga sent its best team once again to International Convention Quality Control Circle (ICQCC) in Kuala Lumpur, Malaysia. This year, Jasa Marga was represented by QCC Purbaleunyi Branch and succeeded in achieving three stars (gold). KPM (Kelompok Perbaikan Mutu – Quality Improvement Group) Sangkuriang Sakti “Anak Durhaka” of Purbaleunyi Branch presented a
BUMN Awards
in Indonesia Children’s
Jasa Marga once again received
Conference
Infobank BUMN Awards 2012
Jasa Marga participated in
in the category of Non-Financial
Indonesia Children’s Conference
Industry with the predicate of
2012 held at Santika Hotel, Slipi
“Very Good”. The assessment
Jakarta. Jasa Marga takes part
was conducted by research
in supporting children’s safety on
team of Infobank by assessing
the road and in the commitment
the 2011 financial performance
to children educational programs
of 117 SOEs. The award was presented at Prambanan Temple, Yogyakarta.
in maintaining safety on the road, particularly on toll road.
Management Responsibility for Annual Report 2012
Corporate Profile
14-18 October 2012
07-10 July 2012
Information for Investors
27 June 2012
Human Capital Management
S i g n i f i can t Even ts in 2012
paper on hydraulic jack innovation product. Constructing towards the Future
Annual Report 2012
31
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Performance Highlights Highlights 2012 2012
Per for ma n ce Hig h ligh t s 2 01 2 Sig nif ica n t E ven ts in 2 01 2
25 November 2012 Jasa Marga was Awarded Best Corporate Governance in
22 November 2012 Jasa Marga Received Anugerah Peduli Pendidikan
Shareholders Category Jasa Marga received an award
Jasa Marga was awarded Anugerah Peduli Pendidikan/ Management Reports
Best Equitable Treatment of
APP (Care for Education Award) 2012 in the category Best SOE. The award was presented by the Minister of Education and Culture Muhammad Nuh and his two deputies Musliar Kasim and Wiendu Nuryati.
of Best Corporate Governance in the category of Best Equitable Treatment of Shareholders from Indonesian Institute for Corporate Directorship (IICD). The award was presented in the 4th IICD Corporate Governance Conference and Award held at
Jasa Marga was the 2nd Runner Up of BUMN Award Approaching year-end 2012, Jasa Marga succeeded in becoming the 2nd Runner Up in the category of Good Corporate Governance (GCG) Best Innovation of Listed SOE in the Anugerah BUMN (SOE Award) 2012 held at the Ballroom of Four Seasons Hotel, Jakarta.
Awards and Certifications
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Kempinski Hotel, Jakarta.
06 December 2012
32
Award presented by
Jasa Marga is named
National SAR Agency to
the best toll road
Jasa Marga Rescue team
operator in Service
for participating in handling
Quality Award 2012
the victims of Sukhoi SJ 100
organized by Centre
aircraft accident in Mount
Customer Satisfaction
Salak, Bogor, 09-18 May
and Loyalty (CARRE-
2012.
CCSL) and Service Excellence Magazine (Marketing Group), Mulia Hotel, 10 May 2012.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Per forman ce H i g hl ights 2012
Award from Indonesian Award presented by the Indonesia
Biodiversity Foundation (Yayasan
Brand Championship Award –
World Records Museum (Museum
Keanekaragaman Hayati Indonesia
National Customer Service (CS)
Rekor Dunia Indonesia – MURI) for
- KEHATI), 26 June 2012, Bali
Championship 2012, 27 September
the record of Installing the most
Room Shangri-La Hotel, Jakarta.
2012, Balai Sarbini, Jakarta.
Human Capital Management
Awards an d Cer tif ic ations
Infobank BUMN Awards 2012 in
Award presented by The 4th Indonesian
(National Social Solidarity) Awards
the Category of Non-Financial SOE
Institute Corporate Directorship (IICD)
2012 in the category of Corporate with
with Very Good 2011 Financial
as Best Corporate Governance in the
Environmental Awareness, 04 October,
Performance, 19 October 2012,
category of Best Equitable Treatment
Cendrawasih Hall, Jakarta Convention
Prambanan Temple, Yogyakarta.
Anugerah BUMN (SOE Award) as Anugerah Peduli Pendidikan (Care
the 2nd Runner Up for the Best GCG
for Education Award) in the Category
in SOE, 06 December 2012, Four
of Best Company/SOE, presented by
Seasons Hotel, Jakarta.
Ministry of Education and Culture, 22 November 2012.
of Shareholders, 22 November 2012, Kempinski Hotel.
Center (JCC), Jakarta.
Good Corporate Governance Award as Indonesia Trusted Companies Based on Investors and Analyst’s Assessment Survey and Indonesia Trusted Companies Based on Corporate Governance Perception Index (CGPI), Jakarta, 19 December 2012.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Kesetiakawanan Sosial Nasional/KSN
Corporate Profile
Information for Investors
Solar Cell Lights, 04 June 2012.
33
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Performance Highlights Highlights 2012 2012
Per for ma n ce Hig h ligh t s 2 01 2 Awards a n d C er tif icat i on s
Certifications of Toll Road Operational Quality Through its Branch Offices, Jasa Marga receives certifications of quality of toll road operation as
Management Discussion and Analysis
Management Reports
follows:
Corporate Social Responsibility
Corporate Governance
Table Certifications of Operational Quality of Jasa Marga’s Toll Roads
34
No.
Branch
ISO Certification Since (dd/mm/yyyy)
Validity Period of ISO 9001:2008 Certificate (dd/mm/yyyy)
1.
Jagorawi
10/01/2000
23/08/0211 – 23/08/2014
2.
Surabaya-Gempol
19/04/2001
19/04/2010 – 19/04/2013
3.
Palikanci
21/07/2004
21/07/2010 – 21/07/2013
4.
Belmera
12/10/2004
12/10/2010 – 12/10/2013
5.
Jakarta-Tangerang
22/12/2004
22/12/2010 – 22/12/2013
6.
Semarang
06/01/2005
06/01/2011 – 06/01/2014
7.
Jakarta-Cikampek
04/02/2005
04/02/2011 – 04/02/2014
8.
Cawang-Tomang-Cengkareng
15/02/2005
15/02/0211 – 15/02/2014
9.
Purbaleunyi
22/12/2005
22/12/2010 – 22/12/2013
Annual Report 2012
Constructing towards the Future
Management Reports ANNUAL REPORT 2012
www.jasamarga.com
PT Jasa Marga (Persero) Tbk.
Board of Commissioners Report
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
36
The Board of Commissioners carries out the supervision task with high commitment, consistency and integrity, so that the Company is managed in accordance with the principles of Good Corporate Governance, while making improvement of work efficiency and productivity to reach the targeted operating revenues and improvement of services to toll road users.
AGOES WIDJANARKO Ch airman
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag ement Repor ts B oard of Commi s s i on er s Repor t
As the fiscal year 2012 ended, on 31 March 2013, the
Meanwhile in the implementation, the Board of
Board of Commissioners gratefully and responsibly
Commissioners carries out the supervision task with
reports the carrying out of the tasks of supervising
high commitment, consistency and integrity, so that the
and giving advice concerning the management of the
Company is managed in accordance with the principles of
Company performed by the Directors during the fiscal
Good Corporate Governance, while making improvement
year 2012.
of work efficiency and productivity to reach the targeted operating revenues and improvement of services to toll
The reporting of supervision task implementation is in
road users.
Human Capital Management
Dear Shareholders,
40 of 2007 on Limited Liability Company Article 66
The carrying out of the tasks of supervising and giving
Paragraph (2) e stipulating that Board of Commissioners
advice to the Directors in managing the Company in
is to create a report on its supervision task carried out
2012 we need to report to the entire shareholders
during the recently passed fiscal year (i.e. in this case
among others consist of the following points:
fiscal year 2012).
Change in the Composition of Board of Commissioners On
30
January
Extraordinary
2012,
General
the
Meeting
Company of
First, in view of the mid-term development plan until the year 2017, the Company will continue to add the length of toll roads operated including those located
convened
outside Java Island, so that Jasa Marga will lead the
Shareholders,
market by operating at least 50% of the total length of
approving and deciding the change of two (2) members
toll roads in Indonesia, or equivalent to the operation of
of the Directors. On 09 May 2012, the Company held
approximately 738 km of toll roads.
Information for Investors
compliance with Law of the Republic of Indonesia No.
and deciding the reappointment of two (2) members of
In reaching the said target, the Board of Commissioners
the Board of Commissioners that have completed their
continuously gave guidance and reminded Directors to
assignment period. With the change in composition of
always be concerned about the precision of schedule for
its members, as the previous years, the new Board of
the toll road operation by establishing and maintaining
Commissioners then agrees and decides the distribution
coordination with related parties and making sure
of tasks for each Commissioner in conducting the
of synergy and harmonious communication. Risk
supervision of the management of the Company.
management was also carried out always in accordance with the risk management framework so that various risks are anticipated and handled well. Moreover, Board of Commissioners also gave suggestions
In performing the supervision task, particularly in the
and feedbacks in order that additional length of toll roads
substances and materials, the Board of Commissioners
also served as positive contribution to national economic
refers to Corporate Long-Term Plan of 2010-2014,
development by supporting the implementation of
Annual Corporate Budget and Work Plan of 2012,
Government’s prioritized infrastructure projects to
and Management Contract of 2012 between the
enhance the flow of goods and services in the scheme of
Board of Commissioners and Directors along with Key
Public Private Partnership, both in Java as well outside
Performance Indicators, while referring to 2012 Annual
Java, especially projects included in the framework
Work Program of Board of Commissioners.
of MP3EI (Masterplan Percepatan dan Perluasan
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Supervision Task of Board of Commissioners and View on Prospects of the Business Carried Out by the Directors
Corporate Profile
Annual General Meeting of Shareholders, approving
37
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Management Reports
Performance Highlights 2012
Ma nagemen t Rep or t s Boa rd of C om m is sion er s Repor t
Pembangunan
Ekonomi
Indonesia
economic
Additionally, the Board of Commissioners and Directors
development masterplan). As an SOE functioning as
–
also agreed that the supervision of 2013 will focus on
one of the pillars boosting economic growth, Jasa Marga
four (4) new toll road projects targeted to complete and
has moral obligation to participate in infrastructure
operate in 2013. The projects are Nusa Dua-Ngurah Rai-
projects such as toll roads that have strategic impacts
Benoa Toll Road (targeted to complete in June 2013 to
on the improvement of national connectivity and regional
support the convening of APEC Summit in Bali), Ungaran-
economic development. As a listed business entity as
Bawen Section of Semarang-Solo Toll Road, JORR W2
a consequence of going public however, the Board of
North (Package 1-3, Kebon Jeruk-Ciledug), and Gempol-
Commissioners requested that the Directors maintain
Pandaan Toll Road.
Jasa Marga’s participation to be based on investment feasibility in accordance with the principals of policies
Apart from the completion of new toll road projects,
and strategies determined by the Company.
additional length of toll roads is also made possible
Management Discussion and Analysis
by conducting acquisition and adding the concession Second, the Board of Commissioners has reviewed and
of other new toll roads. Assisted by Business Risk and
evaluated the realization of Corporate Long-Term Plan
Investment Committee, the Board of Commissioners
(Rencana Jangka Panjang Perusahaan – RJPP) of 2010-
hence supervised and reviewed the feasibility of the
2014 up to the third year. Results of the review and
plans to acquire and add the concession rights for new
realization were then given to the Directors as feedback
toll roads under the scheme of unsolicited projects, as
in order to redefine the Vision, Mission and Values and
well as by participating in tenders for new toll roads. From
the creation of RJPP 2013-2017. The redefinition of
the results of the supervision and discussion with the
Vision, Mission and Values along with the targets of
Directors, we herewith report that in 2012, the Company
the Company stated in RJPP 2013-2017 reflects the
has succeeded in acquiring part of share ownership of
readiness of the entire elements of PT Jasa Marga
Cinere-Jagorawi Toll Road. In 2013, there has also been
(Persero) Tbk. in facing the challenges and changes
a discussion to initiate Kalibaru-KBN-Marunda and Daan
in future business environment with ever-increasing
Mogot-Cengkareng projects. Fourth, the Board of Commissioners also considered
Third, in view of making additional length of toll roads
the need to boost the increase in non-toll revenues, by
operated by Jasa Marga, the supervision of the Board of
developing the businesses supporting toll road operation.
Commissioners during the year 2012 was focused on the
This is because the development of non-toll road
completion of nine (9) new toll road projects and one (1)
businesses has great potential and prospect. Assisted by
relocation project. Related to the above, each member of
Business Risk and Investment Committee, the Board of
the Directors was assigned to conduct supervision and
Commissioners therefore reviewed and formulated the
control of certain toll road sections so that the projects
recommendations for improving policies and strategies of
were completed on schedule. Results of supervision and
non-toll road business development, including the legal
control from each Director were reported and discussed
and administration aspects. The revision to strategies
Corporate Social Responsibility
Corporate Governance
dynamics and competition.
during each Board of Commissioners-Directors Joint
and policies in non-toll road investment is intended to
Meeting held once in a month. The discussion provided
improve the profiling of investment risk and maximize the
the means of finding out the progress of project
return from non-toll road investment.
38
Annual Report 2012
execution, problems encountered to then formulate the solutions to overcome the obstacles.
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
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Man ag ement Repor ts
The Board of Commissioners has also discussed
in the late 2012 is expected to be proposed and discussed
and approved Directors’ proposal to found a new
together with the Board of Commissioners in early 2013.
Subsidiary in the field of property. The establishment
The Board of Commissioners suggested that the efforts of
of the new Subsidiary is aimed at not only promoting
improving the human resources development system be
the increase in non-toll revenues but also maximizing
accompanies with and supported by the implementation
the value and benefits of toll roads operated by Jasa
of Good Corporate Governance in the levels of Head and
Marga. In relation to the establishment of the new
Branch Offices as well as Subsidiaries. The purpose is to
property Subsidiary, the Board of Commissioners gave
enhance the quality of Jasa Marga’s services to the toll
guidance that the directors be appointed based on
road users as the Company’s customers.
Human Capital Management
B oard of Commi s s i on er s Repor t
Management analyze and review competency-based
to empower the Subsidiary in the field of toll road
employees’ remuneration system and risks faced by
maintenance and improvement, especially in the aspect
employees. The objective is not only to encourage
of human resources competencies so that it has greater
employees to work well and receive rewards in
role in the toll road maintenance projects.
accordance with their performance, but also to serve as the first step in preventing corruption. Adequate level of
Fifth, in the aspect of organization and human resources
prosperity is expected to minimize the moral hazard of
development, the Board of Commissioners gave
committing corruption.
feedbacks and directions that the Directors improve the Company’s organizational structure since at present
Sixth, within the scope of the Board of Commissioners
Jasa Marga has transformed to a “Holding Company” in
internally, there has been self-assessment for the
line with the additional number of Subsidiaries in both
performance of the Board of Commissioners based
toll road and non-toll road businesses, which at the end
on the already-decided Key Performance Indicators of
of 2012 has reach 11 Subsidiaries. The improvement is
Board of Commissioners. Self-assessment for the 2011
intended to make Jasa Marga have effective and efficient
performance of Board of Commissioners was completed
organizational structure in controlling its Subsidiaries
in mid of 2012, whereas that of 2012 is in the process of
and Branch Offices.
implementation preparation.
Furthermore,
the
Board
of
Commissioners
also
In addition, to strengthen the supervision of the
requested the Directors to immediately propose good
Company’s management, the Board of Commissioners
and effective personnel/human resources development
assigned the Audit Committee and Business Risk and
system to enable the creation of human resources with
Investment Committee to routinely do field inspection
high competencies, integrity, and reliable capabilities as
to analyze, review and, together with the related
well as professionalism.
unit, evaluate the management of the Company and implementation of programs based on 2012 work and
The Board of Commissioners also requested that
budget plan. The results of the analysis, review as
employees rotation and career system be improved so
well as evaluation become the base of the Board of
that each employee is able to maximize his/her capability
Commissioners’ feedback in conducting the supervision
development in the Company’s structural and functional
on how the company is governed.
positions. The employees’ development system prepared
Constructing towards the Future
Annual Report 2012
Corporate Profile
The Board of Commissioners also emphasized that
Board of Commissioners gave guidance to the Directors
Management Responsibility for Annual Report 2012
as well as high spirit of entrepreneurship. Also, the
Information for Investors
professionalism, competencies and expertise, integrity,
39
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t Rep or t s Boa rd o f C ommissioner s Repor t
The
continuously
movement so that the Shareholders receive optimum
encourages the growth and development of the Company
Board
of
Commissioners
also
benefits from their trust and decision to hold the shares
while upholding transparency and disclosure as part of
of Jasa Marga.
reflected in the carrying out of Board of Commissioners-
The positive achievements in financial aspect were also
Directors Joint Meeting held twice a month to discuss
accompanied with improvement of Good Corporate
work agenda requiring special attention. This step is
Governance
believed to be able to enhance the flow of open and
accomplishment of the Company’s GCG score. In 2012,
transparent information between Directors and Board
Jasa Marga succeeded in reaching GCG score of 94.59
of Commissioners in order that quality of discussion and
out of the total score of 100, with “very good” predicate.
supervision is increased. The Board of Commissioners
Good corporate governance improvement was also
also assigned Audit Committee, Business Risk and
reflected from improvement of the Company’s services
Investment Committee, along with Secretary of the Board
to the customers proven in the success of Jasa Marga
of Commissioners to conduct supervisory meetings on
Traffic Information Center (JMTIC) in receiving Contact
the follow up of the decisions of Board of Commissioners-
Center Service Excellence Award (CCSEA) for the year
Directors Joint Meetings.
2012. As a call center that serves the customers of Jasa
Appreciation for the Performance of Directors
implementation,
indicated
by
the
Marga, JMTIC has been declared having an “Excellent” predicate in Service Performance for the category of Public Service.
Intensive supervision along with synergy and harmonious professional relationship with the Directors and the
Going forward, the Board of Commissioners expects
entire staff members of PT Jasa Marga (Persero) Tbk.
that the improvement of good corporate governance
has led to satisfying results to be well appreciated. The
continues to be carried out. The Board of Commissioners
realization of Toll Revenues reached Rp 5,581.75 billion,
supports and guides the Directors and Management of
showing an increase by 15.25% compared to that of
Jasa Marga to carry on with the efforts of implementation
2011, whereas Operating Income of 2012 reached Rp
and culturization of good corporate governance principles
2,975.24 billion.
within the Company.
The increase in Operating Income boosted the
The
achievement of 2012 Net Income to reach Rp 1,602.09
performance is therefore performed in the framework
billion, increasing by 33.92% compared to that of
of good corporate governance while providing optimum
2011. The improvement of financial performance was
benefits to toll road users as the customers.
achievement
of
the
Company’s
financial
accompanied with the price increase of the Company’s share (JSMR) at the stock exchange in 2012 to reach
The Board of Commissioners would like to extend
Rp 5,450 per share while showing steady movement
congratulations and appreciation for the success
throughout the year. As a listed company, the Board of
of all members of the Directors in improving the
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
implementing good corporate governance. This was
Commissioners is always highly committed to increasing
Company’s performance in fiscal year 2012. The Board
the Company’s share price and maintaining its stable
of Commissioners constantly supports Jasa Marga to
40
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag ement Repor ts
continue the positive accomplishments in the future by
support, suggestions along with the well nurtured
means of improving the supervision activities, along with
cooperation. We are certain that the cooperation and
encouraging the creation of new innovations that are
relationship that is in synergy with all parties and is in
effective and efficient for the Company.
the blessings of God the Almighty will make us able to carry out all assignments entrusted to us satisfactorily
Finally, the Board of Commissioners would like to
and provide benefits to the Company and community,
thank the entire stakeholders of the Company and to
while giving contribution to national development.
Information for Investors
all Government as well as private institutions for their
Human Capital Management
B oard of Commi s s i on er s Repor t
Agoes Widjanarko
Management Responsibility for Annual Report 2012
Corporate Profile
Chairman
Constructing towards the Future
Annual Report 2012
41
PT Jasa Marga (Persero) Tbk.
Directors Report
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
42
In 2012, the construction activity in new toll roads reached Rp 3.31 trillion showing significant increase by 123.22% from that of 2011 amounting to Rp 1.48 trillion.
ADITYAWARMAN
Pres i den t D i rector/CEO
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag ement Repor ts D i rector s Repor t
In 2012, the Company has sold its entire ownership at PT
its achievements in toll road industry even further. In
Citra Marga Nusaphala Persada (CMNP). The selling of
this opportunity, we would like to present Annual Report
the shares gave contribution amounting to Rp 146 billion
2012 describing the achievements of the Company’s
to the revenues.
performance in 2012, along with the Management’ various sustainable efforts in improving the Company’s
On the 2012 Balance Sheets, the Company’s Assets
competitiveness.
reached Rp 24.75 trillion, showing 18.35% growth from that of 2011 amounting to Rp 20.91 trillion. The
The development of the Company until 2012 has also
Assets growth was in line with increase in the Company’s
been showing ever-increasing satisfaction. In 2012, the
investing activities in developing new toll road sections.
construction activity in new toll roads reached Rp 3.31 trillion showing significant increase by 123.22% from
Business Prospects of the Company
that of 2011 amounting to Rp 1.48 trillion. In 2012,
Amidst the risk of uncertainty in land acquisition, the
the Company’s Financial Report has fully implemented
Company continues to strive for adding the length of toll
IFRS-based accounting policy, which is reflected in the
roads by accelerating the construction activities so that
existence of Construction Revenues and Expenses.
four toll roads, namely Nusa Dua-Ngurah Rai-Benoa Toll Road (10 km), Gempol-Pandaan Toll Road (13.6 km),
Performance Achievement in 2012
JORR W2 North Toll Road (7.7 km), and Ungaran-Bawen
In 2012, Jasa Marga succeeded in achieving Net Income
Section of Semarang-Solo Toll Road (12.3 km) out of
amounting to Rp 1.60 trillion representing an increase
nine new toll roads are operated in 2013.
Information for Investors
Entering the 35th year of its existence, Jasa Marga shows
Human Capital Management
Dear Shareholders,
1.19 trillion. Net Income increase was supported by the
In 2012, the Company added its concessions by
15.25% increase in Toll Revenues of 2012 to reach Rp
acquiring 21.24% shares of PT Trans Lingkar Kita Jaya
5.58 trillion compared to that of the previous year.
(TLKJ) which is the concession holder of Cinere-Jagorawi Toll Road that connects to the Company’s Jagorawi Toll
The increase in Toll Revenues was caused by the increase
Road. Additionally, the Company also participated in the
in Transaction Traffic Volume which, in 2012 reached
tender for acquiring the concession of Medan-Kuala
1.20 billion vehicles, rising by 10.04% compared to that
Namu-Tebing Tinggi Toll Road (60 km).
of 2011 reaching 1.09 billion vehicles, and as an impact of tariff hike for 12 toll road sections in 2011 and 2 toll
The Company signed Memorandum of Understanding
road sections in 2012.
with PT Pelabuhan Indonesia II and PT Kawasan Berikat
Corporate Profile
by 33.92% compared to that of 2011 amounting to Rp
The Company’s capability in controlling Operating
integration of Tanjung Priok Port to Kawasan Berikat
Expenses also contributed to the achievement of Net
Nusantara (Nusantara Bonded Zone) as well as the
Income. This is seen in the growth of 2012 Operating
development and operation of Kalibaru-KBN Marunda
Expenses
Toll Road.
(excluding
Construction
Revenues
and
Expenses) that only rose by 4.19% compared to that of 2011.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Nusantara, for preparing the plan to cooperate in the
43
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Management Reports
Performance Highlights 2012
Ma nagem en t Rep or t s Directo r s Rep or t
For the development of non-toll road businesses, in
In 2012, the Company increased the transaction
2012 the Company has signed MoU with PT Surabaya
capacity by providing additional toll booths to 885 booths
Industrial Estate Rungkut (SIER) to develop the industrial
(including 50 automated toll booths) from the previous
areas in East Java.
year with 853 booths. In addition, the Company also
Constraints of Toll Road Development in Indonesia The Company faces obstacles in making sure that the
increased transaction capacity by applying the program called HIJAU-HIJAU-HIJAU (GREEN-GREEN-GREEN), which means that all booths at toll gates located in Jabodetabek (Greater Jakarta) areas are operated 24/7.
completion of toll development in on schedule due to land acquisition process which is not under the
The Company has also provided various innovations
Company’s control. Nearly all development of new toll
in reducing traffic congestion. This was shown among
roads experience delay in the process of land acquisition.
others by implementing the contra flow traffic from Cawang to Semanggi on Jakarta Inner Ring Road Toll
Management Discussion and Analysis
Jasa Marga is delighted with the ratification of Law
Road.
No. 02 of 2012 on Land Acquisition for Public Interest Development on 14 January 2012, followed by the
The efforts to improve services conducted by the
issuance of Implementation Guidance of the said
Company have once again come to fruition as Jasa
Law through Presidential Regulation No. 71 of 2012
Marga’s Call Center was named one of the best with an
on Land Acquisition for Public Interest decided on 07
“Excellent” predicate in the category of Public Service in
August 2012. However, the said Law is currently not yet
the event of Service Quality Award 2013 organized by
applicable for the Company’s nine new toll roads.
Center Customer Satisfaction and Loyalty (CARRE-CCSL)
Improvement of Services to Toll Road Users To prove its commitment to continuously improving
and Service Excellence Magazine (Marketing Group). Jasa Marga’s 2013 participation in the event was the fourth time, in which the last three times in a row, i.e. 2010-2012, Jasa Marga received a “Good” predicate.
e-Toll Card on a number of its toll roads. The usage of
Based on Customer Satisfaction Index (CSI), the
e-Toll Card nationwide has been increasing, shown in
Company also improved from CSI score of 3.79 in 2011
the percentage of e-Toll Card transaction out of total
to 4.72 in 2012.
transaction reaching 9.25% in 2012 from only 5.17%
of the total transactions at the respective gates. The
Stable and Sound Financial Capacity to Support the Company’s Sustainable Growth
Company expects that e-Toll Card transaction will reach
In financial aspect, the Company has always strived to
30% of the total transaction in the next 2-3 years. The
fulfill all of its financial liabilities, both short-term and
Company has also introduced e-Toll Pass as the most
long-term, accurately in terms of time as well as amount.
Corporate Social Responsibility
Corporate Governance
the quality of services, the Company has implemented
recent technology of the non-cash payment system.
This is reflected in the Company’s success in maintaining
44
Annual Report 2012
in 2011. At toll gates located near residential areas, transaction with e-Toll Card has even reached over 20%
its corporate rating of idAA (Double A; stable outlook).
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag ement Repor ts
for
the
Company’s
financial
Corporate Social Responsibility The programs of Corporate Social Responsibility (CSR)
JSMR being included in Morgan Stanley Capital Index
are directed towards giving support to the Company’s
Asia. The inclusion of JSMR in the said index suggests
sustainable business, by carrying out activities
the high level of trust from investors, particularly foreign
encompassing ecological responsibility, community
investors in the Company’s performance.
development for the residents in toll road surroundings,
Preparing Competitive Human Resources to Support the Company’s Growth
product responsibility to the customers, and partnership program.
To solidify its position as market leader, the Company
Throughout the year 2012, the Company has conducted
is preparing its leaders of the future to support the
several CSR activities related to the Company’s business,
Company’s growth in the long run. Hence in 2012, the
such as conducting Training on Traffic Etiquettes and
Company has recruited people of various knowledge
Values for drivers of public transportation vehicles
disciplines to be part of its qualified staff members.
from various transportation companies. With the said program, it expected that drivers be disciplined and
Furthermore, the Company continuously advances the
have good manners on the road.
competencies of its employees by conducting education and training for individual development in through Jasa
Continuing the program commenced in 2011, the
Marga Development Centre (JMDC) Unit focusing on
Company also distributed the books entitled “Aku
managing competency development of the Company’s
Tertib Berlalu Lintas” (I Obey Traffic Regulations). The
human resources.
book contains moral messages in colored illustrations
Continuous Implementation of Good Corporate Governance
Information for Investors
appreciation
performance is also proven with the Company’s shares
concerning the road etiquette for students of elementary schools. In 2012, the Company distributed the books to thousands of elementary schools in the areas of
The Company is committed to ensuring that the
Banten, DKI Jakarta, West Java, Central Java, East Java
activities of running the business are carried out
and Medan.
prudently and based on the principles of Good Corporate Governance (GCG). As the Company keeps perfecting
In addition to the tree-planting and other natural
its GCG practices, in order to further strengthen the
preservation
GCG implementation, the Company has started the
conducted the seedlings and replanting of mangrove
implementation of Whistleblowing System.
wood in Bali as an impact of the development of Nusa
programs,
the
Company
has
also
Corporate Profile
The
Human Capital Management
D i rector s Re po r t
was carried out in cooperation with Udayana University.
reflected in the Company’s success in maintaining its GCG Assessment score in 2012 by achieving a “Very Good” predicate with the score of 94.59.
Change in Composition of Directors In 2012, there was one change in the composition of the Directors. Having completed his period of assignment,
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Dua-Ngurah Rai-Benoa Toll Road. The seedling process The efforts to always improve GCG practices were
45
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t Rep or t s Directo r s Rep or t
Frans S. Sunito was succeeded by Adityawarman as
dedication of Jasa Marga employees that have presented
President Director, Adityawarman was succeeded by
their positive contribution to the Company.
Management Reports
Hasanudin as Operation Director and Firmansjah was succeeded by Muh Najib Fauzan as Human Capital and
The Directors would also like to extend their thanks
General Affairs Director.
and highest appreciation to the Shareholders for all the supports given, so that in 2012 the Company
Closing
was capable of continuing the carrying out of various
Last but certainly not least, we would like to extend
developments. Our high appreciation is also extended to
our gratitude and the highest appreciation to all
the Government, people, toll road users, along with our
staff members for making the achievement of Jasa
business partners and other stakeholders for the well
Marga’s good performance in 2012 possible. All of the
nurtured cooperation and support for Jasa Marga.
accomplishments are resulted from the hard work and
Management Discussion and Analysis
May God Almighty grant His blessings to all of us.
Adityawarman
Corporate Social Responsibility
Corporate Governance
President Director/CEO
46
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Management
Discussion and Analysis
Management Responsibility for Annual Report 2012
Corporate Profile
Information for Investors
ANNUAL REPORT 2012
Human Capital Management
Man ag emen t D i s cus s i on and A nalysis
www.jasamarga.com
Constructing towards the Future
Annual Report 2012
47
PT Jasa Marga (Persero) Tbk.
Operational Review
ManagementDiscussion Discussion and Management and Analysis Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
C i p ul ar an g Tol l Road
Corporate Social Responsibility
Corporate Governance
Length of Jasa Marga Toll Roads
48
The Company is targeting additional toll roads it operates by approximately 193 km on top of the existing toll roads of 545 km currently in operation. The additional length represents 35% increase in the Company’s operating toll roads.
Annual Report 2012
Constructing towards the Future
Jasa Marga is state-owned enterprise with the line of business that plans, builds, operates and maintains toll roads along with the supporting facilities. Until the end of 2012, the Company holds the concessions of 22 toll roads, of which 545 km are in operation and 193 km are expected to be operated in 2013-2016. At the end of 2016, Jasa Marga is therefore expected to be operating toll roads in a total of 738 km representing an increase by 35% compared to that of the end of 2012.
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis O p erat i onal Rev iew
Table Toll Road Concessions Owned by Jasa Marga as of 31 December 2012
Operated . Operated Since 1978
Length 59 km
Jagorawi
1. Jagorawi
JakartaCikampek
2. JakartaCikampek
1988
83 km
JakartaTangerang
3. JakartaTangerang
1984
33 km
4. Prof. Dr. Ir. Sedyatmo
1984
CawangTomangCengkareng
Purbaleunyi
5. Jakarta Inner Ring Road Padaleunyi 6. (PadalarangCileunyi) 7. Cipularang (CikampekPurwakartaPadalarang)
1987
1990
2003
14 km 24 km
64 km
59 km
SurabayaGempol
8.
SurabayaGempol
1986
49 km
Semarang
9.
Semarang
1983
25 km
Belmera
Palikanci
10. Belmera (BelawanMedan-Tanjung Morawa) 11. Palikanci (PalimananKanci)
Subsidiary
Section
1. Jakarta Outer Ring PT Jalantol Road: Lingkarluar Jakarta 2. UlujamiPondok Aren 3. Bogor Outer Ring Road: PT Marga Sarana Section 1 Jabar SentulKedung Halang 4. SurabayaMojokerto: PT Marga Nujyasumo Section 1A Agung WaruSepanjang
Operated Since (Year) 1991 2001
. Lenght
Section
Subsidiary
1. Bogor Outer Ring Road:
43 km 6 km
Lenght
Section 2A Kedung HalangKedung Badak
PT Marga Sarana Jabar
2 km
Section 2B Kedung 2.20 km Badak- Yasmin Section 3 Yasmin-Darmaga
2009
2011
5. SemarangSolo: PT Trans Marga Stage I Section 1 Jateng Semarang2011 Ungaran
3.8 km
2.3 km
3 km
2. Surabaya-Mojokerto:
PT Marga Nujyasumo Agung
10.8 km
Section 1B Sepanjang-WRR
4.3 km
Section 2 WRR-Driyoredjo
5.10 km
Section 3 Driyoredjo-Krian
6.10 km
Section 4 Krian-Mojokerto
18.50 km
3. Semarang-Solo: Stage I Section 2 Ungaran-Bawen
12.3 km
Stage II Section 1 17.5 km Bawen-Salatiga
PT Trans Marga Jateng
Stage II Section 2 24.4 km Salatiga-Boyolali Stage II Section 3 7.64 km Boyolali-Solo
1986
1998
43 km
26 km
PT Marga Lingkar Jakarta
4. JORR W2 Utara: Section 1 Kebon Jeruk -Joglo
3.3 km
Section 2 Joglo-Ulujami 4.4 km
PT Marga Kunciran Cengkareng
5.
CengkarengKunciran
PT Marga Trans Nusantara
6.
Kunciran-Serpong 11.2 km
7.
Gempol-Pasuruan
14.2 km
Section 1 Gempol13.9 km Rembang
PT Trans Marga Jatim Pasuruan
Corporate Profile
Section
Section 2 Rembang8.1 km Pasuruan Section 3 Pasuruan-12.2 km Grati
PT Margabumi Adhikaraya
8.
Gempol-Pandaan 13.6 km
PT Jasamarga Bali Tol
9.
Nusa DuaNgurah Rai- Benoa
Constructing towards the Future
10 km
Annual Report 2012
Management Responsibility for Annual Report 2012
Branch
Subsidiary – Jasa Marga’s Ownership > 50%
Information for Investors
Branch
.
Not Yet Operated Subsidiary – Jasa Marga’s Ownership > 50%
Human Capital Management
Number of Concessions = 22 Total Length of Toll Roads = 738 km
49
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Op era tion a l Rev iew
Concession Period The concession period of Jasa Marga’s toll roads ranges from 35 to 45 years. As many as 14 toll road sections operated by the Company have a period of concession of 40 years starting from 2005 (excluding JORR Section S). With only a small portion of the period already exhausted indicates that the Company still has long remaining years of the concession period. Table Concession Period of Toll Road Sections Operated by Jasa Marga (as of 31 December 2012)
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
Management Reports
No.
Section
Year Concession Starts
Period of Concession (Years)
1.
Jagorawi
2005
40
2.
Belmera
2005
40
3.
Semarang Seksi A, B, C
2005
40
4.
Jakarta-Tangerang
2005
40
5.
Surabaya-Gempol
2005
40
6.
Jakarta Inner Ring Road
2005
40
7.
Jakarta-Cikampek
2005
40
8.
Padaleunyi
2005
40
9.
Prof. Dr. Ir. Sedyatmo
2005
40
10.
Ulujami-Pondok Aren
2005
40
11.
Palikanci
2005
40
12.
Cipularang
2005
40
13.
Jakarta Outer Ring Road *
2005
40
14.
Bogor Outer Ring Road
2009
45
15.
Gempol-Pasuruan
In the Process of Land Acquisition
45
16.
Semarang-Solo
2010
45
17.
JORR W2 Utara
2005
40
18.
Cengkareng-Kunciran
19.
Kunciran-Serpong
20.
Surabaya-Mojokerto
2007
42
21.
Gempol-Pandaan
2012
35
22.
Nusa Dua-Ngurah Rai-Benoa
2012
45
In the Process of Land Acquisition In the Process of Land Acquisition
35 35
Corporate Social Responsibility
Note: *) Excluding JORR Section S
50
Operational Review by Business Segment In accordance with Management’s policy in assessing business performance, the Company applies geographical approach using the bases of where the Company’s business is located. At present, through its nine (9) Branches and ten (10) Subsidiaries, the Company is the concession holder of 22 toll roads in Indonesia. The concessions were obtained from the Government through the Indonesian Toll Road Authority (Badan Pengatur Jalan Tol – BPJT).
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis O p erat i onal Rev iew
The Company’s activities in toll road operation are divided into the areas as follows: Map of Jasa Marga’s Toll Road Operation Human Capital Management
NORTH SUMATERA Belmera Branch
WEST JAVA
Purbaleunyi Branch Palikanci Branch
MALUKU
SUMATERA KALIMANTAN SULAWESI
PAPUA
JAWA
BALI
Jagorawi Branch Cawang-Tomang-Cengkareng Branch Jakarta-Tangerang Branch PT Jalantol Lingkarluar Jakarta rta PT Marga Sarana Jabar PT Marga Lingkar Jakarta PT Marga Kunciran Cengkareng PT Marga Trans Nusantara
Information for Investors
JAKARTA & ITS SURROUNDINGS (GREATER JAKARTA AREAS) EAST JAVA
Surabaya-Gempol Branch PT Marga Nujyasumo Agung PT Trans Marga Jatim Pasuruan PT Margabumi Adhikaraya
BALI
PT Jasamarga Bali Tol
CENTRAL JAVA
No.
Section
(as of 31 December 2012)
Operator
Status
1.
Jagorawi (Jakarta-Bogor-Ciawi)
Jagorawi Branch
Operated since 1978
2.
Prof. Dr. Ir. Sedyatmo
Cawang-Tomang-Cengkareng Branch
Operated since 1984
3.
Jakarta Inner Ring Road (JIRR)
Cawang-Tomang-Cengkareng Branch
Operated since 1987
4.
Jakarta-Cikampek
Jakarta-Cikampek Branch
Operated since 1988
5.
Jakarta-Tangerang
Jakarta-Tangerang Branch
Operated since 1984
6.
Jakarta Outer Ring Road (JORR)
PT Jalantol Lingkarluar Jakarta
Operated since 1995
7.
Bogor Outer Ring Road
PT Marga Sarana Jabar
Operated since 2009 (Section 1 Sentul SelatanKedung Halang is operated since 23 November 2009)
8.
JORR W2 North
PT Marga Lingkar Jakarta
Land Acquisition and Construction
9.
Cengkareng-Kunciran
PT Marga Kunciran Cengkareng
Land Acquisition
10.
Kunciran-Serpong
PT Marga Trans Nusantara
Land Acquisition
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Table Status of Jasa Marga’s Toll Road in Greater Jakarta Areas
Corporate Profile
Semarang Branch PT Trans Marga Jateng
51
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Op era tion a l Rev iew
Table Status of Jasa Marga’s Toll Road in West Java No.
Section
(as of 31 December 2012) Operator
Padaleunyi (Padalarang-Cileunyi)
Purbaleunyi Branch
Operated since 1990
2.
Cipularang (CikampekPurwakarta-Padalarang)
Purbaleunyi Branch
Operated since 2003
3.
Palikanci (Palimanan-Kanci)
Palikanci Branch
Operated since 1998
Table Status of Jasa Marga’s Toll Road in Central Java Management Reports
No.
Section
Operator
ManagementDiscussion Discussion and Management and Analysis Analysis
(as of 31 December 2012) Status
1.
Semarang
Semarang Branch
Operated since 1983
2.
Semarang-Solo
PT Trans Marga Jateng
Operated since 2011 (Section 1 SemarangUngaran is operated since 12 November 2011 and Section Ungaran-Solo is in land acquisition and construction stages)
Table Status of Jasa Marga’s Toll Road in East Java No. 1.
Section Surabaya-Gempol
(as of 31 December 2012) Operator
Status
Surabaya-Gempol Branch
Operated since 1986
2.
Surabaya-Mojokerto
PT Marga Nujyasumo Agung
Operated since 2011 (Section 1A WaruSepanjang is operated since 05 September 2011 and Section Sepanjang-Mojokerto is in land acquisition and construction stages)
3.
Gempol-Pasuruan
PT Trans Marga Jatim Pasuruan
Land Acquisition
4.
Gempol-Pandaan
PT Margabumi Adhikaraya
Land Acquisition and Construction
Table Status of Jasa Marga’s Toll Road in North Sumatera Corporate Governance
Status
1.
No. 1.
Section Belmera (Belawan-MedanTanjung Morawa)
Operator Belmera Branch
Table Status of Jasa Marga’s Toll Road in North Sumatera No. 1.
Section Nusa Dua-Ngurah Rai-Benoa
Operator PT Jasamarga Bali Tol
(as of 31 December 2012) Status Operated since 1986
(as of 31 December 2012) Status Under Construction
Corporate Social Responsibility
Operational Performance by Business Segment
52
Referring to Statement of Financial Accounting Standards (Pernyataan Standar Akuntansi Keuangan – PSAK) No. 5 (revised 2009) on Operational Segment and based on the Company’s policy, the Company’s business segment is divided based on geographical location of the operational activities, and each segment is required to have a minimum of 10% of the total revenues as well as to be part of the 75% of the Company’s revenues. The Company’s business segment is divided into 7 categories consisting of Jagorawi, Jakarta-Cikampek, Cawang-Tomang-Cengkareng, Purbaleunyi, Head Office (JORR), Jakarta-Tangerang and Others that consist of Surabaya-Gempol, Semarang Belmera, Palikanci, BORR, Surabaya-Mojokerto, and Semarang-Ungaran.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis O p erat i onal Rev iew
1
Jagorawi
2
JakartaCikampek
3
CawangTomangCengkareng
4
5
6
7
Purbaleunyi
Section
Branch/ Subsidiary
2011
2012 (juta kendaraan)
Amount
Proportion (%)
Amount
Proportion (%)
∆%
Jagorawi
Jagorawi
169.99
15.57
189.92
15.81
11.72
Jakarta-Cikampek
JakartaCikampek
176.35
16.15
194.87
16.22
10.50
66.54
6.09
72.11
6.00
8.36
196.63
18.01
205.40
17.10
4.46
52.84
4.84
54.98
4.58
4.05
5.94
0.54
5.34
0.44
-10.16
131.08
12.01
139.93
11.65
6.75
41.31
3.78
44.33
3.69
7.30
Prof. Dr. Ir. Sedyatmo
Jakarta Inner Ring Road/JIRR Padaleunyi Cipularang
CawangTomangCengkareng Purbaleunyi
Pusat (JORR)
Jakarta Outer Ring Road/JORR Ulujami-Pondok Aren
PT Jalantol Lingkarluar Jakarta
JakartaTangerang
Jakarta-Tangerang
JakartaTangerang
97.88
8.97
107.88
8.98
10.21
Surabaya-Gempol
SurabayaGempol
67.68
6.20
75.51
6.29
11.58
Others
Semarang
Semarang
37.72
3.46
45.27
3.77
20.02
Belmera
Belmera
19.49
1.79
21.68
1.81
11.25
Palikanci
Palikanci
16.59
1.52
19.32
1.61
16.44
Bogor Outer Ring Road/BORR
PT Marga Sarana Jabar
9.08
0.83
11.24
0.94
23.72
Surabaya-Mojokerto
PT Marga Nujyasumo Agung
2.12
0.19
8.62
0.72
306.27
Semarang-Solo
PT Trans Marga Jateng
0.52
0.05
4.96
0.41
852.40
TOTAL
1,091.78
Proportion of Transaction Traffic Volume Jagorawi Branch in 2012
100.00
1,201.37
100.00
10.04
Information for Investors
Segment
Chart Comparison of Transaction Traffic Volume of Jagorawi Branch in 2011 and 2012 (million vehicles) Management Responsibility for Annual Report 2012
No.
(in million vehicles)
Corporate Profile
Table Transaction Traffic Volume by Segment
Human Capital Management
The Transaction Traffic Volume for each segment as of 31 December 2012 is presented in each of the following tables:
Jagorawi
15.81% 189.92 189,92
84.19%
169.99
‘11
‘12
Constructing towards the Future
Annual Report 2012
53
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Op era tion a l Rev iew
Jagorawi Branch The 59-km Jagorawi Toll Road is Indonesia’s first toll road operated by Jagorawi Branch. In 2012, Transaction Traffic Volume was recorded to reach 189.92 million vehicles, showing an increase by 11.72% compared to that of 2011 with 169.99 million vehicles. The increase was caused by the growth in Sentul Selatan and Bogor areas. The completion of widening from Cibubur to Cibinong and increasing attraction of Puncak as tourism destination also were also contributing
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
Management Reports
to the increase. In 2012, Jagorawi Branch contributed Transaction Traffic Volume of 15.81% to the total Transaction Traffic Volume.
Jakarta-Cikampek Branch Proportion of Transaction Traffic Volume Jakarta-Cikampek Branch in 2012
Chart Comparison of Transaction Traffic Volume of Jakarta-Cikampek Branch in 2011 and 2012 (million vehicles) Jakarta-Cikampek
16.22% 83.78%
176.35
‘11
‘12
Jakarta-Cikampek Branch is the operator of Jakarta-Cikampek Toll Road of 83 km. In 2012, the Transaction Traffic Volume of the Branch reached 194.87 million vehicles, an increase by 10.50% compared to that of 2011 reaching 176.35 million vehicles. The increase was resulted from area development in the surroundings of Jakarta-Cikampek Toll Road. In 2012, the Transaction Traffic Volume of Jakarta-Cikampek Branch represented 16.22% contribution of the total
Corporate Social Responsibility
Transaction Traffic Volume.
54
194.87
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis O p erat i onal Rev iew
Chart Comparison of Transaction Traffic Volume of Cawang-Tomang-Cengkareng Branch in 2011 and 2012 (million vehicles) 205.40
Jakarta Inner Ring Road
196.63
17.10% 72.11
Prof. Dr. Ir. Sedyatmo
66.54
6.00%
‘11
76.90%
‘12
Prof. Dr. Ir. Sedyatmo
‘11
‘12
Jakarta Inner Ring Road
Cawang-Tomang-Cengkareng Branch is the branch that operates Jakarta Inner Ring Road Toll Road and Prof. Dr. Ir.
Information for Investors
Proportion of Transaction Traffic Volume Cawang-Tomang-Cengkareng Branch in 2012
Human Capital Management
Cawang-Tomang-Cengkareng Branch
Sedyatmo (Airport) Toll Road, each is 23.55 km and 14.3 km, respectively. In 2012, Transaction Traffic Volume of Branch reached 277.51 million vehicles, representing an increase by 5.45% compared to that of 2011 which was 263.17 million vehicles. The increase was caused by the policy of limiting the time for trucks to enter the Inner Ring Road Toll Road, implementation of “Jemput Transaksi” (proactively coming to the toll road users instead of waiting for the toll road users toll gates, as well as implementation of contra flow starting from 01 May 2012 resulting in the free-flowing traffic. In 2012, Cawang-Tomang-Cengkareng Branch was recorded to be the highest contributing branch to the total Transaction Traffic Volume, i.e. 23.10% of the total Transaction Traffic Volume.
Corporate Profile
to make transaction to smooth out congested toll gates, especially during rush hours), traffic management at congested
Purbaleunyi Branch Chart Comparison of Transaction Traffic Volume of Purbaleunyi Branch in 2011 and 2012 (million vehicles) 54.98
Cipularang
0.44%
52.84
Padaleunyi
4.58% 5.94
94.98%
‘11
‘12
Cipularang
5.34
‘11
Management Responsibility for Annual Report 2012
Proportion of Transaction Traffic Volume Purbaleunyi Branch in 2012
‘12
Padaleunyi
Constructing towards the Future
Annual Report 2012
55
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Op era tion a l Rev iew
Purbaleunyi (Purwakarta-Bandung-Cileunyi) Branch is the branch that operates Padaleunyi (Padalarang-Cileunyi) Toll Road of 64.4 km and Cipularang (Cikampek-Purwakarta-Padalarang) Toll Road of 58.5 km. In 2012, Transaction Traffic Volume of the Branch reached 60.32 million vehicles, increasing by 2.62% compared to that of 2011 reaching 58.78 million vehicles. The increase was resulted from the development of area surrounding Jakarta-Cikampek Toll Road bringing impact to the traffic growth heading to Bandung and vice versa.
Management Reports
In 2012, the traffic of Purbaleunyi Branch represented 5.02% contribution to the total Transaction Traffic Volume.
PT Jalantol Lingkarluar Jakarta Proportion of Transaction Traffic Volume PT Jalantol Lingkarluar Jakarta in 2012
Chart Comparison of Transaction Traffic Volume of PT Jalantol Lingkarluar Jakarta in 2011 and 2012 (million vehicles) 139.93
ManagementDiscussion Discussion and Management and Analysis Analysis
131.08
Ulujami-Pondok Aren
3.69%
Jakarta Outer Ring Road/JORR
11.65%
84.66%
41.31
Corporate Governance
‘11
‘12
Jakarta Outer Ring Road/JORR
‘11
44.33
‘12
Ulujami-Pondok Aren
PT Jalantol Lingkarluar Jakarta is the Subsidiary that holds the concession of and operates Jakarta Outer Ring Road (JORR) Toll Road and Ulujami-Pondok Aren with the length of 43 km and 5.55 km, respectively. In 2012, Transaction Traffic Volume of the Subsidiary reached 184.26 million vehicles, showing increase by 6.89% compared to that of 2011 with 172.39 million vehicles. The increase was supported by traffic growth on Jakarta-Cikampek Toll Road, as well Jagorawi
Corporate Social Responsibility
Toll Road, both integrated with JORR.
56
In 2012, PT Jalantol Lingkarluar Jakarta gave contribution of Transaction Traffic Volume of 15.34% to the total Transaction Traffic Volume.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis O p erat i onal Rev iew
Proportion of Transaction Traffic Volume Jakarta-Tangerang Branch in 2012
Chart Comparison of Transaction Traffic Volume of Jakarta-Tangerang Branch in 2011 and 2012 (million vehicles)
8.98%
Jakarta-Tangerang 107.88
Human Capital Management
Jakarta-Tangerang Branch
97.88
‘11
‘12
Jakarta-Tangerang Branch is the operator of the 33-km Jakarta-Tangerang Toll Road. In 2012, Transaction Traffic Volume reached 107.88 million vehicles, an increase by 10.21% compared to that of 2011 reaching 97.88 million vehicles. The increase was resulted in the operation of Tangerang City (Mall, Apartment, Hotel, and Trade Center), growth of residential
Information for Investors
91.02%
area Alam Sutra, and time limit for heavy vehicles to pass Jalan Raya Serpong, causing those vehicles to take alternative routes, i.e. Inner Ring Road Toll Road-Sedyatmo Toll Road-JORR W1 Toll Road-Jakarta-Tangerang Toll Road.
Surabaya-Gempol Branch Proportion of Transaction Traffic Volume Surabaya-Gempol Branch in 2012 SurabayaGempol
Chart Comparison of Transaction Traffic Volume of Surabaya-Gempol Branch in 2011 and 2012 (million vehicles)
Corporate Profile
In 2012, Jakarta-Tangerang Branch’s proportion to the total Transaction Traffic Volume reached 8.98%.
6.29% Management Responsibility for Annual Report 2012
75.51 67.68
93.71%
‘11
‘12
Constructing towards the Future
Annual Report 2012
57
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Op era tion a l Rev iew
Surabaya-Gempol is the Branch operating Surabaya-Gempol Toll Road of 49 km. In 2012, Transaction Traffic Volume of the Branch reached 75.51 million vehicles, showing increase by 11.58% compared to that of 2011 reaching 67.68 million vehicles. The increased was caused by the operation of Porong bypass.
Management Reports
In 2012, Surabaya-Gempol Branch contributed Transaction Traffic Volume of 6.29% to the total Transaction Traffic Volume.
Semarang Branch Proportion of Transaction Traffic Volume Semarang Branch in 2012
Chart Comparison of Transaction Traffic Volume of Semarang Branch in 2011 and 2012 (million vehicles) Semarang
ManagementDiscussion Discussion and Management and Analysis Analysis
3.77% 45.27
96.23% 37.72
‘11
‘12
Semarang Branch is the operator of Semarang Toll Road with the length of 24.75 km. In 2012, Transaction Traffic Volume of the Branch reached 45.27 million vehicles, which was an increase by 20.02% compared to that of 2011 with 37.72
Corporate Governance
million vehicles. The increase was caused by the construction of non-toll road flyover at Kali Banteng resulting in congestion hence toll road users use toll road to avoid it. In 2012, the contribution of Transaction Traffic Volume of Semarang Branch reached 3.77% of the total Transaction Traffic Volume. Belmera Branch is the operator of Belmera (Belawan-Medan-Tanjung Morawa) Toll Road of 42.7 km. In 2012, Transaction
Belmera Branch
Chart Comparison of Transaction Traffic Volume of Belmera Branch in 2011 and 2012 (million vehicles)
Proportion of Transaction Traffic Volume Belmera Branch in 2012 Corporate Social Responsibility
Belmera
1.81%
21.68
19.49
98.19%
‘11
58
Annual Report 2012
Constructing towards the Future
‘12
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis O p erat i onal Rev iew
2011 reaching 19.49 million vehicles. The increase was resulted from the growing traffic heading out of Medan to Tebing Tinggi and its surrounding areas. In 2012, Belmera Branch contributed Transaction Traffic Volume of 1.81% to the total Transaction Traffic Volume.
Palikanci Branch operates the 26.3-km Palikanci (Palimanan-Kanci) Toll Road. In 2012, Transaction Traffic Volume of the
Palikanci Branch Proportion of Transaction Traffic Volume Palikanci Branch in 2012
Human Capital Management
Traffic Volume of the Branch reached 21.68 million vehicles, representing an increase by 11.25% compared to that of
Chart Comparison of Transaction Traffic Volume of Palikanci Branch in 2011 and 2012 (million vehicles)
1.61% Information for Investors
Palikanci
19.32 16.59
‘11
‘12
Branch reached 19.32 million vehicles, showing an increase by 16.44% compared to that of 2011 with 16.59 million vehicles. The increase was caused by the economic development in Java Island resulting in the increase in traffic volume of national road network including Palikanci Toll Road.
Corporate Profile
98.39%
In 2012, the proportion of Transaction Traffic Volume of Palikanci Branch reached 1.61% of the total Transaction Traffic
Management Responsibility for Annual Report 2012
Volume.
Constructing towards the Future
Annual Report 2012
59
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Op era tion a l Rev iew
PT Marga Sarana Jabar Proportion of Transaction Traffic Volume PT Marga Sarana Jabar in 2012
Chart Comparison of Transaction Traffic Volume of PT Marga Sarana Jabar in 2011 and 2012 (million vehicles)
0.94%
ManagementDiscussion Discussion and Management and Analysis Analysis
Management Reports
Bogor Outer Ring Road/BORR 11.24
9.08
99.06%
‘11
‘12
PT Marga Sarana Jabar is the Company’s Subsidiary that holds the concession of and operates Bogor Outer Ring Road Toll Road. The Toll Road with the total length of 11 km is one of the nine (9) new toll roads that the Company is developing. Part of Bogor Outer Ring Road Toll Road, i.e. Section 1 Sentul Selatan-Kedung Halang of 3.8 km, has been operated since 23 November 2009. In 2012, the Subsidiary’s Transaction Traffic Volume reached 11.24 million vehicles, an increase by 23.72% compared to that of 2011 with 9.08 million vehicles. The increase was caused by the growing economic activities in the toll road surroundings and people’s becoming more familiar with the access to and from the said toll road resulting in higher traffic
Corporate Governance
in 2012 than that of 2011. In 2012, PT Marga Sarana Jabar contributed 0.94% to the Company’s total Transaction Traffic Volume.
PT Marga Nujyasumo Agung
Chart Comparison of Transaction Traffic Volume of PT Marga Nujyasumo Agung in 2011 and 2012 (million vehicles)
Proportion of Transaction Traffic Volume PT Marga Nujyasumo Agung in 2012
0.72%
8.62
Corporate Social Responsibility
SurabayaMojokerto
99.28% 2.12
‘11
60
Annual Report 2012
Constructing towards the Future
‘12
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis O p erat i onal Rev iew
Toll Road. The Toll Road with the total length of 36.3 km is one of the nine (9) new toll roads that the Company is developing. Part of Surabaya-Mojokerto Toll Road, i.e. Section 1A Waru-Sepanjang of 2.3 km, has been operated since 05 September 2011. In 2012, the Subsidiary’s Transaction Traffic Volume reached 8.62 million vehicles, an increase by 306.27% compared to that of 2011 with 2.12 million vehicles. The increase was caused by the increasing economic activities in the surroundings of Section 1A Waru-Sepanjang Toll Road.
Human Capital Management
PT Marga Nujyasumo Agung is the Company’s Subsidiary that holds the concession of and operates Surabaya-Mojokerto
In 2012, PT Marga Nujyasumo Agung contributed 0.72% to the Company’s total Transaction Traffic Volume.
Chart Comparison of Transaction Traffic Volume of PT Trans Marga Jateng in 2011 and 2012 (million vehicles)
Proportion of Transaction Traffic Volume PT Trans Marga Jateng in 2012
0.41%
4.96
Semarang-Solo
Information for Investors
PT Trans Marga Jateng
Corporate Profile
99.59%
0.52
‘11
‘12
The Toll Road with the total length of 72.64 km is one of the nine (9) new toll roads that the Company is developing. Part of Semarang-Solo Toll Road, i.e. Section 1 Semarang-Ungaran of 10.8 km, has been operated since 12 November 2011. In 2012, the Subsidiary’s Transaction Traffic Volume reached 4.96 million vehicles, an increase by 852.40% compared to that of 2011 with 0.52 million vehicles. The increase was caused by the increasing economic activities in the surroundings of Section 1 Semarang-Ungaran Toll Road. In 2012, PT Trans Marga Jateng contributed 0.41% to the Company’s total Transaction Traffic Volume.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
PT Trans Marga Jateng is the Company’s Subsidiary that holds the concession of and operates Semarang-Solo Toll Road.
61
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Op era tion a l Rev iew
Transaction Traffic Volume by Vehicle’s Class Vehicles passing toll road are divided into five (5) categories with five (5) different tariffs, i.e. passenger cars or Class I and four other classes of commercial vehicles categorized based on the number of axles starting from Class II to Class V. The majority of vehicles using Jasa Marga’s toll roads are those included in Class I or passenger cars, which in 2012 reached 86.63% whereas the remaining represented the commercial vehicles. Transaction Traffic Volume by Vehicle’s Class is
Management Reports
presented in the following table and chart. Chart Transaction Traffic Volume by Vehicle’s Class (million vehicles)
Passenger Cars Class I
ManagementDiscussion Discussion and Management and Analysis Analysis
Commercial Class Class II
Corporate Governance
945.69 1,040.73 10.05%
2011 2012 2011 2012
Class III
94.23 101.84 30.08 34.55 13.49 14.86 8.29 9.39
2011 2012
Class IV
2011 2012
Class V
2011 2012
8.08% 14.86% 10.16% 13.27%
Note: : 2011 : 2012
Efficiency and Improvement of Services on Toll Roads In order to improve efficiency and services to toll road users, Jasa Marga has conducted a number of programs of services improvement.
Installing Solar Cell PJU (Public Street Lighting) The Company has used Solar Cell PJU in providing lights along its toll roads. This represents another form of Company’s commitment to supporting the Government’s plan to reduce greenhouse effect by until 26% in 2020 as well increasing people’s awareness of energy conservation through the Go Green campaign. The table of solar cell PJU population is
Corporate Social Responsibility
shown as follows: The table of solar cell PJU population is shown as follows:
62
Annual Report 2012
No.
Toll Road Section
1.
Jakarta Inner Ring Road
2.
Jakarta-Cikampek
3.
Purbaleunyi
4.
Jagorawi
Single Ornament (Unit) 245
740
94 715 22
TOTAL
Double Ornament (Unit)
Number of PJU (Points) 1,725 94
71
857 22 2,698
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis O p erat i onal Rev iew
In line with the Company’s Vision to become a modern company, Jasa Marga has therefore initiated modernization efforts in its various business activities. Modernization activities conducted among others included the implementation of electronic transaction system called e-Toll Card that has been implemented since 2009. Until the end of 2012, e-Toll Card has been implemented on nearly all of the Company’s toll roads with open system (a system with flat tariff, not based on distance travelled). The Company’s commitment to continually making efforts in modernization was also reflected in the launching of e-Toll Pass on 01 April 2012. As the development and the next generation of e-Toll Card technology, e-Toll Pass enables its users
Human Capital Management
Implementation of e-Toll Card and e-Toll Pass
not to stop making payment at toll booth. This is made possible by inserting e-Toll Card on a device called On Board Unit (OBU) attached on windshield of vehicle. When OBU receives signal from a device at automated toll booth, e-Toll Card balance will be deducted automatically and the barrier will open. The progress of e-Toll Card is shown in the following
Information for Investors
table: Table e-Toll Card Progress 2010
2011
2012
6,622,873
14,214,810
24,622,309
76,352,641
2.42
5.55
5.17
9.25
Number of Toll Road Sections Operating e-Toll Card
1
3
4
9
Number of e-Toll Card Automated Toll Booths (GTO)
5
9
19
50
126
262
321
555
% of Transactions with e-Toll Card of Total Transactions
Number of e-Toll Card Toll Booths
U s e of O n B oard Un i t ( O B U ) i n t r an s ac t i on w i t h e-Tol l C ard a s the for m of Jas a Mar g a’ s c om m i t m en t to c on t i n uous l y m od er nizing t r an s ac t i on s er vi c es
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Number of Transactions with e-Toll Card
Corporate Profile
2009
63
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagem en t D iscus s i o n a n d Ana l ys i s Op era tion a l Rev iew
Chart Percentage (%) of e-Toll Card Usage Compared to Total Transactions
10 9.25
6-
5.55 5.17
4-
12 20
11 20
20
09
10
2.42
2-
20
ManagementDiscussion Discussion and Management and Analysis Analysis
Management Reports
8-
Marketing Aspect and Market Share In line with its Vision of maintaining its position as the market leader in toll road industry in di Indonesia and its Mission of continuing to add its operating toll roads, the Company constantly makes the effort to increase its market share and the length of toll roads it operates. Until the end of 2012, the Company has dominated over 81% of the total average daily traffic of toll roads in Indonesia and has operated 73% of the total operating toll roads in the country. These figures will continue to increase in the coming years as the Company will continue to add the toll roads to be developed and operated.
27%
73%
Other Toll Road Business Entities (Badan Usaha Jalan Tol – BUJT) 203 Km
Jasa Marga 545 Km
Corporate Social Responsibility
Corporate Governance
Market Share of Toll Road Industry in Indonesia (as of 31 December 2012)
64
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis O p erat i onal Rev iew
81%
Human Capital Management
Comparison between Average Daily Traffic Volume of Jasa Marga’s Toll Roads and That of Other BUJT (as of 31 December 2012)
19%
Jasa Marga 3.4 million vehicles per day
Other Toll Road Business Entities (Badan Usaha Jalan Tol – BUJT) 3.05 million vehicles per day
Marketing Strategies users that make transaction with e-Toll Card use toll road free of charge on certain toll road sections in Jabotabek during certain period and time, among others from 07 March 2012 at 05:00 WIB (western Indonesian time) to 08 March 2012 at 05:00 WIB, as well as other occasions. From 16 April-16 July 2012, the Company also gave 10% discount of applicable tariff for transaction at automated toll booth. This is aimed at increasing toll users’ transaction with e-Toll Card.
Information for Investors
To extend its appreciation to e-Toll Card users as well as to increase the use of e-Toll Card, the Company has let its toll road
Business Development Presently, through its Subsidiaries, the Company has had a total of additional nine (9) new toll road concessions. The Company is the majority shareholder of all its Subsidiaries that are the concession holders of the said nine (9) new toll
No.
Toll Road Section
Length
(as of 31 December 2012)
Subsidiary
Jasa Marga’s Ownership % 55
1..
Bogor Outer Ring Road
11 km PT Marga Sarana Jabar
2.
Semarang-Solo
73 km PT Trans Marga Jateng
3.
Gempol-Pasuruan
34 km PT Trans Marga Jatim Pasuruan
93.62
4.
CengkarengKunciran
14 km PT Marga Kunciran Cengkareng
76.07
5.
Kunciran-Serpong
11 km PT Marga Trans Nusantara
60
6.
JORR W2 North
8 km PT Marga Lingkar Jakarta
65
7.
Surabaya-Mojokerto
36 km PT Marga Nujyasumo Agung
55
8.
Gempol-Pandaan
14 km PT Margabumi Adhikaraya
9.
Nusa Dua-Ngurah Rai-Benoa
10 km PT Jasamarga Bali Tol
Total
60
66.48 60
211 km
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Table Percentage of Jasa Marga’s Ownership at Subsidiaries
Corporate Profile
road sections. The percentage of the Company’s ownership on the Subsidiaries is shown in the following table:
65
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Mana g emen t D is cus s i o n a n d Ana l ys i s Op erat ion a l Rev iew
Until the end of 2012, part of the nine (9) new toll road sections that have been in operation are Section 1 of Bogor Outer Ring Road Toll Road, i.e. Sentul-Kedung Halang, 3.8 km, operated since 23 November 2009; Section 1 of Semarang-Solo Toll Road, i.e. Semarang-Ungaran, 10.8 km, operated since 12 November 2011; and Section 1A of Surabaya-Mojokerto Toll Road, i.e. Waru-Sepanjang, 2.3 km, operated since 05 September 2011.
Management Reports
The year 2012 is the “Year of Construction” for the Company. This is the reflection of the Company’s construction activities in new toll road sections throughout 2012. The Company plans to fully operate the entire sections of the nine new toll roads in 2016. The investment cost of the nine projects is estimated to reach ± Rp 25 trillion. Up to the end of 2012, the progress of the toll road projects is as follows:
ManagementDiscussion Discussion and Management and Analysis Analysis
Table Progress of Construction of Jasa Marga’s New Toll Roads No. 1.
2.
Corporate Governance
4.
5.
Land Acquisition (%)
Construction (%)
Bogor Outer Ring Road Section 1
Sentul-Kedung Halang
Section 2A
Kedung Halang-Kedung Badak
Section 2B Section 3
100.00
100.00
46.13
16.06
Kedung Badak-Yasmin
-
-
Yasmin-Darmaga
-
-
100.00
100.00
99.00
62.28
-
-
100.00
100.00
24.79
-
Semarang-Solo Stage I Section 1
3.
Corporate Social Responsibility
Toll Road Section
(as of 31 Desember 2012)
Semarang-Ungaran
Satge I Section 2
Ungaran-Bawen
Stage II
Bawen-Solo
Surabaya-Mojokerto Section 1A
Waru-Sepanjang
Section 1B
Sepanjang-Western Ring Road
Section 2
Western Ring Road -Driyorejo
35.81
-
Section 3
Driyorejo-Krian
50.94
-
Section 4
Krian-Mojokerto
62.71
34.27
Section 1
Kebon Jeruk-Joglo
99.02
66.00
Section 2
Joglo-Ulujami
83.94
31.00
-
-
3.44
-
82.31
-
JORR W2 Utara
Cengkareng-Kunciran
6.
Kunciran-Serpong
7.
Gempol-Pasuruan Section 1
Gempol-Rembang
Section 2
Rembang-Pasuruan
-
-
Section 3
Pasuruan-Grati
-
-
8.
Gempol-Pandaan
9.
Nusa Dua-Ngurah Rai-Benoa
99.03
17.07
100.00
73.67
Connectivity between Toll Road Sections Eight out of nine Jasa Marga’s new toll road sections are connected to existing toll roads that are already in operation
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Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis
hence reducing the risk of not meeting traffic volume
and Services Area in toll road areas in order to support
projection in accordance with project feasibility. The said
the services to toll road users and boost the performance
toll road connection is as follows:
of other businesses. At the moment, Business Unit is
•
Bogor Outer Ring Road Toll Road is connected to
developing and operating Rest and Services Areas at
Jagorawi Toll Road.
KM 88 A/B of Purbaleunyi Toll Road and at KM 226 A of
Semarang-Solo Toll Road is connected to Semarang
Palimanan-Kanci Toll Road.
•
Toll Road. •
•
Surabaya-Mojokerto, Gempol-Pandaan and Gempol-
In order to benefit from business potential of regional
Pasuruan Toll Roads are connected to Surabaya-
development resulting from toll road existence, the
Gempol Toll Road.
Company has initiated business in the field of property
Cengkareng-Kunciran Toll Road is connected to
in the locations that mutually support toll roads
Jakarta-Tangerang and Prof. Dr. Ir. Sedyatmo Toll
development.
Human Capital Management
O p erat i onal Rev iew
In 2012, the Company was once again entrusted by the
Tangerang Toll Road.
Government to operate and maintain Suramadu Toll
JORR W2 North Toll Road is connected to JORR W1
Bridge for the next six (6) years.
The Company makes effort to obtain new toll roads that are connected to those already operated. This is carried out so that new toll roads have traffic volume that
Business Prospect of the Company In the time of the world’s economy experiences stagnant growth or even contractions, Indonesia’s economy continues to grow firmly. In 2011, the country’s economy
guarantees project feasibility.
grew by 6.5%. Besides Indonesia’s ever improving
Business Diversification in Line with Core Business
inclusion of Indonesia in the investment grade rating last
Since 2010, the Company has commenced business diversification to further maximize the use of its assets to increase operating revenues. The Company has signed Memorandum of Understanding with PT Pelabuhan Indonesia II (Pelindo II), to cooperate in the development and operation of port toll road access and in the development and use of land in the areas of Jakarta-Tangerang, Jakarta-Bogor and Jakarta-Cikampek Toll Roads. In the aspect of other businesses development, through its Subsidiary PT Sarana Marga Utama, with the field of business of maintenance and provision of office equipment, the Company has developed Asphalt Mixing Plant that is scheduled to operate in early 2013 to support the Company’s performance. The Company has formed Business Unit to operate Rest
credibility in the eyes of foreign investors, proven by the year, and this has drawn investors’ attention even more to invest in Indonesia. In the future, economic growth is expected to keep increasing. To support Indonesia’s sustainable economic growth, the country needs reliable infrastructure condition.
Corporate Profile
and Jakarta-Tangerang Toll Roads.
In line with the master plan of acceleration and expansion of Indonesia’s economic development (Master Plan Percepatan dan Perluasan Pembangunan Ekonomi Indonesia – MP3EI), as one of road infrastructure, toll road becomes one of the Government’s priorities of the current infrastructure development. Toll road development has proven to provide multiplier effect that boosts the growth of regional economy. The development of toll roads as one of the most vital infrastructure in supporting the distribution of goods and services is also making a very slow progress. This has been the cause for traffic congestion, prolonged travel time, hence leading to high cost of distribution and in
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
•
Kunciran-Serpong Toll Road is connected to Jakarta-
Information for Investors
Roads. •
67
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Op era tion a l Rev iew
Corporate Social Responsibility
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
Management Reports
Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s
the end causing of the products and services produced
In the beginning of 2012, Jasa Marga signed Joint
not to be competitive. Infrastructure development, toll
Memorandum of Understanding with the Provincial
roads included, should become the priority in order
Governments of South Sumatera, West Sumatera,
that the momentum of Indonesia’s economic growth is
North Sumatera, and Riau in order to support toll
well maintained.
road development in Sumatera. Based on the MP3EI, the Government has decided four main corridors and
Currently, the toll concept in the provision of
three supporting corridors. The four main corridors are
road infrastructure is still highly required given
Lampung-Palembang (358 kilometers), Palembang-
Government’s limited budget for the provision and
Pekanbaru (610 kilometers), Pekanbaru-Medan (548
operation of road infrastructure. The participation of
kilometers) and Medan-Banda Aceh (460 km); whereas
SOEs and private parties in toll road development in
the three supporting corridors are Palembang-Bengkulu
the future will still be in need since the infrastructure
(303 kilometers), Pekanbaru-Padang (242 kilometers)
development allocation no longer rest on the allocation
and Medan-Sibolga (175 kilometers).
of Government’s budget. The Company is also the process of negotiation to take
68
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis
over toll roads facing difficulties in their development.
Going forward, the prospect of the Company’s business
Those sections are financially feasible and are connected
will continue to improve. This is supported by the
with the Company’s already operating toll roads. As of
additional concessions with good financial feasibility as
the end of 2012, the negotiation process was still carried
well as the integration with existing concessions in its
out.
portfolio, sound and trusted financial structure along with making use of assets through prospective businesses,
For purpose of adding the length of its operating toll
which in the end will support the sustainable business
roads, the Company continues to strive for accelerating
growth of the Company.
construction and land acquisition activities on its new toll road sections, particularly those scheduled to operate in 2013, i.e. Nusa Dua-Ngurah Rai-Benoa Toll Road, JORR W2 North Toll Road, Gempol-Pandaan Toll Road, and Ungaran-Bawen Section of Semarang-Solo Toll Road.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
N g ur ah R ai Roun d ab out at Nus a D ua- N gur a h Ra iB en oa Tol l Road P roj ec t , B al i
Corporate Profile
Information for Investors
Human Capital Management
O p erat i onal Rev iew
69
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Customers Focused
The customers are the first priority that has always become Jasa Marga’s attention in the fulfillment of all requirements of the Company’s services. The Company’s priority in its responsibility for the services is indicated by commitment to and implementation of continuously improving the quality of services to the toll road users as the customers of the Company. The realization of the commitment is carried out by means of the following strategic measures:
Management Reports
Strategies of Service
Implementation 1.
Implementation of Green-Green-Green at congested toll gates. Implementation of PUTTRA (Petugas Jemput
Speeding up transaction time to reduce congestion at toll gates.
Transaksi, toll collectors proactively come to 2.
toll road users instead of waiting for the toll road users to make transaction) at congested
ManagementDiscussion Discussion and Management and Analysis Analysis
toll gates. Implementation of e-Toll Card.
4.
Implementation of e-Toll Pass.
1.
Implementation of contra flow system.
2. Smoothing out traffic flow by increasing services capacity and providing real time traffic information to reduce traffic
Provision of operational technology facilities (CCTV, VMS, RTMS, Fiber Optic). Diversification of taking and giving
3.
information (Jasa Marga Traffic Information Center).
disruptions.
Implementation of communication technology 4.
(mobile application, live streaming CCTV, website, twitter).
Improving the quality of construction of Corporate Governance
3.
roads, bridges and operational supporting buildings.
1. 2.
Installation of solar cell PJU. Optimization of land use to increase toll gate capacity.
SPM Fulfillment of the Company’s Toll Roads The toll road industry in Indonesia has to comply with the minimum level of service (Standar Pelayanan Minimal – SPM) that is based on Regulation of the Minister of Public Works No. 392/PRT/M/2005 dated 31 August 2005 on Minimum Level of Service that every toll road operator must meet in order to improve its services to the toll road users.
Corporate Social Responsibility
SPM encompasses the following substances of service:
70
1. Toll Road Condition. 2. Average travel speed. 3. Accessibility. 4. Mobility. 5. Safety. 6. Aid/Rescue Unit and Service Assistance.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis
(KPI) by making sure of 100% zero pothole and 100%
time to fulfill the SPM indicator of roughness in no longer
PJU working.
than five (5) years and the SPM indicator of ROW fence in no longer than three (3) years, which are carried
In 2012, to guarantee the fulfillment of SPM and KPI
out gradually. The supervision and evaluation of SPM
by operating 100% zero pothole toll roads, Jasa Marga,
fulfillment is carried out by the Indonesian Toll Road
particularly the Maintenance Division, conducted
Authority (Badan Pengatur Jalan Tol – BPJT).
routine inspection as part of the measures in order to maintain the condition of toll road pavement.
Following up the above Regulation of the Minister of Public Works, BPJT issued a Decision of Chairman of
Routine inspection on the condition of pavement of
BPJT No. 03/KPTS/BPJT/2006 dated 23 May 2006
toll road/bridge is conducted on all toll road sections
on Guidelines on Supervision and Evaluation of the
operated by the Company. Results of the survey
Fulfillment of Toll Road Minimum Level of Service, which
found several types of damage on the pavement,
regulates the guidelines for measuring the fulfillment of
mostly cracking, potholes and raveling. In addition,
SPM. The report on SPM fulfillment is submitted by the
uneven pavement surface was found at several spots.
investors twice a year not later than on the tenth day of
Damages in the joint and old patching were also
February and August.
found on certain toll roads.
The results of BPJT evaluation represent the justification
Preliminary analysis revealed the damage handlings,
that proves the compliance of the Company’s services
i.e. patching, sealing off cracking, leveling, as well as
with the SPM determined by the Regulation of the
scrapping filling and overlay. In addition to increase
Ministry of Public Works. The Company keeps increasing
the strength of pavement structure, such handlings
the quality of its services and always targets the
are also aimed at fulfilling the determined SPM.
Information for Investors
For the already operated toll roads, investors are given
Human Capital Management
Cus tomer s Foc used
accomplishments beyond the standard. The fulfillment of 2012 SPM for Jasa Marga’s 13
has conducted immediate handling to make lightings
operating toll road sections indicate that, similar to
back to normal so as to guarantee the safety and
the previous years, the Company has fulfilled all SPM
convenience of toll road users, especially during night
indicators.
time. This is intended to maintain the performance of toll road section in fulfilling SPM requirements.
Improvement in the Quality of Services users as its customers, apart from fulfilling SPM,
2. Improvement in Transaction Services The activity that Jasa Marga has conducted to
throughout 2012, the Company conducted among others
maximize toll road users’ satisfaction in the field of
the following activities:
transaction services was related to speeding up transaction time in order to reduce the queuing at toll
1. Improvement in Construction Services To comply with the Regulation of the Minister of Public Works No. 392/PRT/M/2005 dated 31 August 2006 on Minimum Level of Service for Toll Roads, Jasa Marga is obligated to always maintain the condition of road pavement and public street lighting (Penerangan Jalan Umum – PJU) on toll roads, particularly fulfillment of SPM and Key Performance Indicator
gates, by: • Implementing Green-Green-Green at congested toll gates. • Implementing PUTTRA (Petugas Jemput Transaksi) at congested toll gates • Implementing e-Toll Card.
e-Toll Card is electronic transaction at automated toll booth (Gardu Tol Otomatis – GTO) and manual toll
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
To continuously improve the services to the toll road
Corporate Profile
In relation to the PJU that was not working, Jasa Marga
71
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Custom er s Focused
booth equipped with e-Toll Card reader. In 2012, the Company has added the number of GTOs to 33 units, bringing the total of 50 operating GTOs. • Implementing e-Toll Pass.
e-Toll Pass is non-stop transaction at GTO or e-Toll Pass dedicated lane. GTO and the dedicated lane for e-Toll Pass are equipped with transceiver device and vehicles must be equipped with On Board Unit (OBU) and e-Toll Card to be
Management Reports
able to make transaction with e-Toll Pass. In 2012, the Company has implemented dedicated e-Toll Pass at Booth 11 of Cililitan Toll Gate. 3. Improvement in Traffic Services The Company’s various efforts to maximize toll road users’ satisfaction in the field of traffic services were carried out in smoothing traffic flow by increasing services capacity and providing real time traffic information in order to reduce traffic disruptions, among others by: •
Implemented since 01 May 2012, Contra Flow system is as an effort intended to increase road capacity on Cawang-Tomang section.
•
Location of Contra Flow is from KM 1+700 to 8+600 (to Tomang direction) from 06:00 to 09:30 WIB on weekdays.
•
With Contra Flow implementation, there is 1 additional lane for vehicles heading to Tomang, resulting in the decrease in average V/C ratio during the said period of time to 0.75 (prior to Contra Flow implementation, V/C ratio ranges between 0.9 and 1).
b. Modernizing the system of real time traffic information. •
Provision of real time traffic information by means of: 1. Provision of operational technology facilities (CCTV, VMS, RTMS, Fiber Optic).
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
a. Improving traffic flow by implementing Contra Flow system.
•
CCTV (Closed Circuit Television), to monitor traffic condition.
•
VMS (Variable Message Sign), to provide information on traffic condition.
•
RTMS (Remote Traffic Microwave Sensor), to monitor traffic density.
Table Provision of Operational Technology Facilities No.
Development of Traffic Information System
Annual Report 2012
2012
2013
20142017
1
Additional VMS
24
36
50
70
2
Additional CCTV
200
236
276
315
3
Additional RTMS
26
30
35
55
Corporate Social Responsibility
72
2011
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis Cus tomer s Foc used
Diversification of media of information. Providing information on real time traffic condition 24/7 through Jasa Marga Traffic Information Center (JMTIC) at call center 021-8088 0123. •
Implementing
communication
technology
by
uploading
information
at
www.jasamargalive.com (computer device) and m.jasamargalive.com (mobile device). •
Reevaluating traffic sign system (direction signage).
Table Development of JMTIC No.
Development of JMTIC
2011
2012
2013
1
CSO Seats and Lines
5
9
9
2
LCD Wall Board
8
12
16
CCTV Monitor
10
15
15
JMTIC Officers
39
41
46
Corporate Profile
Information for Investors
3 4
Human Capital Management
•
Management Responsibility for Annual Report 2012
2.
Constructing towards the Future
Annual Report 2012
73
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Custom er s Focused
Diagram Flow of Customers Communication
Customer (Toll Road Users) Management Representative of the Branch Office
Management Reports
Customer Service Officer
Complaint
Suggestion
Give Information
Request Assistance
Ask for Information
CCTV, LAN TV, RTMS
Suggestion
Toll road users may make complaint for their dissatisfaction of information standard provided not meeting the ManagementDiscussion Discussion and Management and Analysis Analysis
desirable standard. Jasa Marga’s call center, Jasa Marga Traffic Information Center (JMTIC), functioning as customers’ communication media will record and follow up the complaints. JMTIC is accessible by toll road users at several communication lines, as follows: •
JMTIC Call center 021-80880123
•
Website www.jasamargalive.com
•
Application mobile m.jasamargalive.com
4. Implementation of Communication Technology The Company will continue to improve its services by advancing the technology of communication and information, i.e. by adding several applications and benefiting from social media, such as: Mobile Application for information on traffic condition and live streaming toll road CCTV
Corporate Governance
•
http://www.jasamargalive.com
Corporate Social Responsibility
http://m.jasamargalive.com
74
Annual Report 2012
Constructing towards the Future
http://m2.jasamargalive.com (blackberry launcher application and android application)
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis Cus tomer s Foc used
Application for Information on Traffic Condition via website www.jasamarga.com
Information for Investors
Human Capital Management
•
http://jasamarga.com/informasi-lalulintas
Twitter @PTJASAMARGA To support the provision of real time traffic information, Jasa Marga activates its twitter as one of the means of communicating with the toll road users. The home screen of the Company’s twitter account @PTJASAMARGA is Corporate Profile
as follows:
Management Responsibility for Annual Report 2012
•
Constructing towards the Future
Annual Report 2012
75
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Custom er s Focused
Chart Increase in the Number of Followers of @ptjasamarga 10,000 9,000 -
9.347
8,000 7,000 Management Reports
6,000 5,000 4,000 3,000 2,000 -
12 c’ De
v No
ct O
p Se
g Au
l Ju
n Ju
ay M
r Ap
ManagementDiscussion Discussion and Management and Analysis Analysis
1,000 -
5. Improvement in Quality of Operational Supporting Buildings The improvement was conducted by optimizing the land use to increase toll gate capacity. a. The increase in toll gate capacity is intended to anticipate queuing at toll gate due to traffic load causing the exceeding gate capacity. b. Limitation of land availability is the main constraint in increasing gate capacity. The difficulties in land acquisitions may be regarded as the opportunity to apply modern technology in managing toll gates to increase their capacity.
Corporate Governance
c. Optimization of land use to increase toll gate capacity may be carried out in several ways, among others by developing satellite toll gate, such as: • Cililitan Toll Gate of Jakarta Inner Ring Road Toll Road. • Karang Tengah Toll Gate of Jakarta-Tangerang Toll Road 6. Traffic Service Championship The organizing of Traffic Service Championship is aimed at enhancing the readiness and alertness of the Company’s officers in the activities of handling traffic disruptions on toll road; testing the competencies and skills of each function of traffic services; and testing the comprehension of the fulfillment of procedures for handling traffic disruptions properly and correctly based on traffic services principles. The goals of organizing the event are to maintain and Corporate Social Responsibility
consolidate teamwork in the activities of traffic services; to give motivation and appreciation; and to serve as an effort in improving services to toll road users. The objectives of holding Traffic Service Championship are to support the compliance of SPM in accordance with the Regulation of the Minister of Public Works No. 392/PRT/M/2005 dated 31 August 2005; to support optimal achievement of KPI; and to consistently implement the principles of traffic services consisting of traffic management, traffic disruption handling, as well as information and communication. The participants of Traffic Service Championship were Teams of Traffic Services of Branch Offices and Subsidiaries of Jasa Marga. The team consisted of Head of Shift of Toll Road Services, Toll Road Service Officer, Ambulance Officer,
76
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis
Information and Communication Officer and Rescue Officer, that did not participate in the championship the previous year. In the championship consisting of Case Study and Simulation Case Study, the participants were challenged to deal with different kinds of accident such as accident involving burning vehicle; accident involving vehicle upside down on the lane; accident involving major injuries, i.e. broken leg, broken arm and broken neck; and accident with victim in a cliff.
Human Capital Management
Cus tomer s Foc used
With ever-increasing growth of traffic volume, the enhancement of capabilities and skills of toll road services officers in every field is imperative. One of the basic principles of Traffic Service Championship is to create the situation as real as possible in the simulation of handling traffic disruptions, hence the officers are expected to be capable of performing proper, correct and prompt handling in the event that the real condition occurs in the field in order that
7. Training for Traffic Service Officers The competencies of Traffic Service Officers are of essential matters in view of their roles as the frontliners of the Company in dealing with traffic disruptions and accidents. To enhance the reliability of the officers in handling accidents on toll road, the Company deems it necessary to hold training for traffic services officers.
Information for Investors
the toll road users of the Company receives maximum services.
In 2012, the activity of Training for Traffic Service Officers was carried out for Traffic Services Officers of all Branches along with Subsidiary PT Jalantol Lingkarluar Jakarta in December 2012 with the aims, goals and objectives as
1. Enhance the readiness and
Goals
Objectives
1. Maintain and consolidate
1. Support the compliance of
alertness of the Company’s
teamwork in the activities of
SPM in accordance with the
officers in the activities of
traffic services.
Regulation of the Minister
2. Give motivation and
of Public Works No. 392/
handling traffic disruptions on toll road. 2. Enhance the competencies and skills of each function of traffic services. 3. Improve the comprehension of
appreciation as well improve the competencies of Traffic Services Officers.
PRT/M/2005 dated 31 August 2005. 2. Improve implementation of the
3. Serve as an effort in improving services to toll road users.
principles of traffic services, i.e.: a. Traffic management.
the fulfillment of procedures
b. Traffic disruption handling.
for handling traffic disruptions
c. Information and
properly and correctly based on traffic services principles.
communication. 3. Enhance competencies and competitiveness of Traffic Services Officers of Branch Offices and Subsidiaries of PT Jasa Marga (Persero) Tbk.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Aims
Corporate Profile
follows:
77
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Custom er s Focused
The composition of participants from each Branch/Subsidiary consists of Head of Shift of Toll Road Services, Toll Road Services Officers, Ambulance Officers/Paramedic and Rescue Officers. The team of trainers consists of personnel, each with expertise, from other institutions and from Jasa Marga Head Management Reports
Office: 1. Unit 118. 2. Instructor SAR of Paskhas TNI AU (Special Forces corps of the Indonesian Air Force). 3. Fire Department Office of DKI Jakarta. 4. Instructor of Road Accident Rescue (Safety Plus Training Pty Ltd & Provectus Academy). 5. Operation Management Division. The material of Training for Traffic Service Officers consists of theory (class room activities) and simulation case study.
Corporate Social Responsibility
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
During the part of theory, training participants received the following training material:
78
Table Material of Training for Traffic Service Officers No. 1.
2.
3.
Subject
Remarks
Firefighting a.
How to take/carry Fire Extinguisher
b.
How to break seal/remove pin
c.
How to test pressure of Fire Extinguisher
d.
How to hold the Nozzle
e.
Position when extinguishing fire/ spraying
f.
Firefighting duration
Insert Foto
Emergency and Rescue Services Training (Pelatihan Penanganan Gawat Darurat – PPGD) a.
Lifting and removing victim
b.
Emergency lifting
c.
Non-emergency lifting
d.
KED (Kendrick Extrication Device)
Insert Foto
Training on Road Accident Rescue a.
Safety
b.
Use of hydraulic equipment
c.
Stabilization
d.
Front-door removal
e.
Back-door removal
f.
B-post removal
g.
Forward roof flip
h.
Roll A-post
i.
Make extra door
Annual Report 2012
Constructing towards the Future
Insert Foto
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis Cus tomer s Foc used
4.
Subject
Remarks
Human Capital Management
No.
Traffic Management Teamwork
b.
Positioning of assisting vehicles
c.
Traffic management during accident handling
d.
Evacuation of vehicles involved in accident
e.
Speed in completing the entire process
Insert Foto
Training on Rappelling a.
Techniques of evacuating victim in a high ground
b.
Techniques of knot-tying
Insert Foto
Meanwhile, during simulation case study of the theory in handling the abovementioned cases, the participants were expected to achieve the focuses of training as follows:
Information for Investors
5.
a.
1. Good teamwork, as well as correct work order and method. 2. Individual capabilities, consisting of skills and proper use of equipment, in handling victim. 3. Comprehension and capabilities of implementing traffic service principles during accident handling on the
8. Preparation for Traffic Condition during “Mudik” and “Balik” The services for the flows of “mudik” (going back to hometown) and “balik” (the reverse flow) during the Idul Fitri holiday in 2012 (1433 H) began from D-7 to D+7 (12-27 August 2012) with the following activities: Table Activities of Services during “Mudik” and “Balik” Idul Fitri 2012
1.
Location Services for mudik flow at Cikampek Toll Gate.
Activities a. Applying one direction traffic system based on traffic density around Simpang Jomin. b. Operating all toll booths as exit booths c. Diverting vehicles heading to Jakarta to Kota Bukit Indah area and enter toll road at Kalihurip Selatan Toll Gate.
2.
Integrated command post at
Alternating between one-direction and two-direction traffic system (by
KM 66 of Jakarta-Cikampek Toll
opening and closing road) for vehicles heading to Cikampek, so that
Road.
traffic density along the northern (Java’s North Coast – Pantura) line was distributed to central line (through Sadang Toll Gate) or southern line (through Cileunyi Toll Gate). The open-close road system was carried out by the Police force and in coordination with Jakarta-Cikampek Branch personnel.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
No.
Corporate Profile
location.
79
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Custom er s Focused
No. 3.
Location Jalan Tol Palimanan-Kanci
Activities Changing frequency of transaction of vehicles from Palimanan to Kanci and vice versa from previously two transactions to one transaction.
4.
Strategic locations.
a. Arranging fleet of Traffic Services (Traffic Services, Ambulance, Rescue, Tow Truck and Highway Patrol).
Management Reports
b. Displaying street banners of traffic safety reminder. 5.
Rest and Services Area.
Providing Emergency Polyclinic.
6.
Command post for monitoring
a. Displaying 200 CCTV monitors on toll roads.
mudik flow at the Department of
b. Providing traffic data to be evaluated by Department of
Transportation.
Transportation. The data compiled by command post of the branch offices were data concerning: 1) Traffic volume at main toll gates
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
2) Data on accidents. 3) Special incidents 7.
Jasa Marga Traffic Information
Providing information on situation and condition of toll road sections
Center (JMTIC).
operate by the Company. There was a quite significant increase in the number of incoming calls during the mudik and balik period of Idul Fitri 2012 by 34.27% compared to average incoming calls per day, with the highest number of incoming calls reaching 2,509 taking place on D-2 (17 August 2012).
Table Number of Incoming Calls during the Peak of Mudik and Balik Flows of Idul Fitri 2012 No.
Average Incoming Calls Daily
Average Incoming Calls from D-7 to D+7
Increase
Highest Number of Incoming Calls
1
1,100
1,477
34.27%
2,509
9. Development of Rest Areas At present, on toll roads operated by the Company, there are 22 operating Rest and Services Areas that are facilitated with Stasiun Pengisian Bahan Bakar Umum (public refueling station), and 6 Rest Areas, both operated by Jasa Marga as well as in cooperation with investors. Various facilities provided at Rest Areas at least consist of canteen, place of worship, rest room, and auto garage. In 2012, to improve the services to toll road users at Rest and Services Areas, the Company cooperated with PT
Corporate Social Responsibility
Telekomunikasi Indonesia in providing Wi-Fi facility at several Rest and Services Areas, among others in Rest and
80
Services Areas at KM 88 A & B of Purbaleunyi Toll Road.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis
Information for Investors
Human Capital Management
Cus tomer s Foc used
Res t an d Ser vi c es A r ea K m 97 P ur b al euny i Tol l Road
Table Rest and Services Areas on Jasa Marga’s Toll Roads
JakartaCikampek
Facilities
TIP KM 10 A
P
TIP KM 36 A
P
TIP KM 45 A
P
TIP KM 21 B
P
TIP KM 38 B
P
TIP KM 19 A
P
TI KM 34 A
P
TIP KM 40 A
P
Remarks ATM
ATM
POLISI
P
Parking Space Gas Station Restaurant
POLISI
+
Corporate Profile
Jagorawi
Location
Mosque/Musholla Rest Room Auto Garage
ATM
+ ATM
TI KM 50 A
P
TIP KM 57 A
P
TI KM 32 B
P
TIP KM 42 B
P
ATM
TIP KM 62 B
P
ATM
TI KM 72 B
P
Polyclinic/First Aid ATM Internet Access
ATM
POLISI
Police Station
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Branch
81
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagem en t D iscus s i o n a nd An a l ys i s Custom er s Focused
Branch
Location TIP KM 72 A
P
TIP KM 88 A
P
TIP KM 147 A
P
TIP KM 88 B
P
TIP KM 97 B
P
TIP KM 125 B
P
TI KM 1 B Pasteur
P
TIP KM 13 A
P
TIP KM 14 B
P
TIP KM 226 A
P
TIP KM 227 B
P
TIP KM 26 A
P
TIP KM 25 B
P
TI KM 5 A
P
Management Reports
Purbaleunyi
ManagementDiscussion Discussion and Management and Analysis Analysis
Facilities
JakartaTangerang
Palikanci
SurabayaGempol Semarang
ATM
ATM
+
Parking Space
Restaurant Mosque/Musholla Rest Room
ATM
Auto Garage
+ ATM
Polyclinic/First Aid ATM Internet Access
POLISI
Police Station
ATM
Organization (YLKI), representatives of national print media, Indonesia Transportation Society (Masyarakat
1. Customer Gathering and Toll Road Discussion Corporate Governance
P
Gas Station
Listening to the Voice of the Customers for Improved Services
Transportasi
Indonesia),
Jakarta
Transportation Council (Dewan Transportasi Kota
Forum
Jakarta), toll road users, academia, DKI Jakarta
In 2012, Jasa Marga has nurtured effective communication
Remarks
with
the
customers
Police and Bank Mandiri as Jasa Marga’s business
through
partner in implementing e-Toll Card.
Customer Gathering and Toll Road Discussion Forum. Both occasions serve as the media for sharing various updated information and for building
Several conclusions drawn from Customer Gathering
stronger relationship between Jasa Marga and the
and Toll Road Discussion Forum are as follows:
toll road users.
• The complaints focus on long queuing at toll gate
Corporate Social Responsibility
resulting in congestion. Toll road users feel the
82
Jasa Marga believes that these events will educate
difficulty when they want to use toll road as they
the customers hence narrowing the gap between
have to just accept the waste of time for making
customers’ wishes and Jasa Marga’s capabilities in providing the services.
toll payment. • Issue of congestion on toll road is not solely the responsibility of Jasa Marga; instead, there are
In 2012, Customer Gathering was held on 28
other authorities under the central Government
March 2012 at Balai Kartini Jakarta, presenting
involved in assisting Jasa Marga to jointly
speakers from Jasa Marga, represented by Operation
overcome the problem.
Director and from the stakeholders, represented
• People are not yet well informed of the efforts
by Daily Executive Board of Indonesian Consumers
that have and will be conducted by Jasa Marga in
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis Cus tomer s Foc used In the aspect of respondents’ opinion on the services of officers at toll gate, the survey indicated
by Jasa Marga must be disclosed to public.
that the majority of respondents placed their
Toll road users as the people paying for toll
answers in the category of “between good and bad”
are entitled to find out to what extend SPM is
(46.7%).
implemented.
Jasa Marga is committed to keep improving its
Suggestions, criticisms and feedbacks from Jasa
service standard by updating the standard of
Marga’s toll road users and stakeholders are generally
Service Excellence to be able to meet customers’
the portrait of toll road services and improvement
expectation and provide excellent services for the
efforts that will serve as positive feedbacks for the
toll road users.
Company in order to improve Jasa Marga’s services going forward, as dominating Indonesian toll roads
Human Capital Management
relation to improving services to toll road users. • Evaluation of SPM on toll road sections operated
3. Handling of Complaints Published in Letter to the
with 73% market share, Jasa Marga has great power
Editor
and great responsibilities.
As the form of Jasa Marga’s commitment to prioritizing customers, particularly toll road users
2. Customers Satisfaction Survey
the Company has responded promptly to toll road users’ complaints posted in Letter to the Editor of
Political Sciences (Pusat Kajian Komunikasi FISIP)
various national print media.
2012,
cooperation
with
Center
of University of Indonesia, the Company conducted a survey on Stakeholders perception. The survey was
Realization of the said complaint handling in
intended to find out the complaints, suggestions and
2012 was 45 complaints or 88% responded and 6
wishes that the stakeholders had for Jasa Marga
complaints or 12% not responded.
Information for Investors
for
Communication Studies of Faculty of Social and
In
in
making complaint, throughout the year of 2012
in order to improve future performance and the
to find out stakeholders perception towards Jasa Marga’s services product and distribution of information or communication program conducted by Jasa Marga.
Awards and Quality of Toll Road Services Throughout 2012, the awards achieved and activities participated by Jasa Marga in order to prove the commitment to improving the quality of toll road services among others were as follows: • The 8th Customer Service Championship held by CARRE, an institution working in the field of
The survey was conducted in a number of interview
customers’ satisfaction. The assessment in the
locations such as respondents’ home (75.0%),
championship was carried out from 30 August
respondents’ office (13.3%), mall or shopping center
2012 to 23 September 2012. Out of 5 categories
(6.7%) and rest area (5.0%). Proportionally, scope of
Jasa Marga participated in 2 categories, namely
survey area was divided into five different regions, namely Jakarta (26.7%), Bogor (10.0%), Depok (15.0%), Tangerang (20.0%) and Bekasi (28.3%).
Corporate Profile
Stakeholders perception survey was also intended
Front Liners and Team Leader categories. In the two categories participated, Jasa Marga sent eight representatives, five of which competed
Four regions are satellite cities in the surroundings
in Front Liners category and three competed in
of DKI Jakarta as the center and capital city where the majority of Jasa Marga’s toll roads are located. Chart Respondents’ Opinion on Service of Officers at Toll Gate % Poor
0
Bad
6.7
Between Good and Bad Good
46.7
Very Good
3.3
Management Responsibility for Annual Report 2012
respondents were mainly toll road users. Additionally,
43.3
Constructing towards the Future
Annual Report 2012
83
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Custom er s Focused
Team Leader category. Jasa Marga team successfully
Jasa Marga success in IQC was shown in achieving
achieved the following results:
the following awards:
1. The Most Influential Team Leader.
1. Prime Gold achieved by KPM New Edelweiss and
2. The Most Punctual Team Leader.
KPM Cerry.
3. The Most Improved Front Liners.
2. Gold achieved by PP Pancasona and PP Manlalu
4. The Most Valuable Front Liners.
Lintas.
Management Reports
In the award for corporate category, Jasa Marga received Grand Champion Corporate presented on
• Annual National Quality and Productivity Convention
inauguration night at Balai Sarbini on 27 September
(Temu Karya Mutu dan Produktifitas Nasional –
2012.
TKMPN). The Company participated in TKMPN XVI
• International Convention Quality Control Circle (ICQCC)
in Lombok on 27-30 November 2012 as an event
in Kuala Lumpur, Malaysia. ICQCC was held on 14-
for sharing knowledge on quality progress at other
17 October 2012 and Jasa Marga was represented
companies.
ManagementDiscussion Discussion and Management and Analysis Analysis
by Quality Improvement Group (Kelompok Perbaikan Mutu – KPM) Sangkuriang Sakti of Purbaleunyi Branch.
The teams representing Jasa Marga were:
In the event, Jasa Marga achieved 3 stars, meaning the
1. KPM Lintas Sangkuriang of Purbaleunyi Branch.
Company received gold medal.
2. KPM Mojopahit of Surabaya-Gempol Branch.
• Indonesia Quality Convention (IQC) in Manado, North
3. PP Prima of Purbaleunyi Branch.
Sulawesi. IQC was organized on 26-30 November
4. PP Mind Set of Jagorawi Branch.
2012 and Jasa Marga was represented by Quality Improvement Group (Kelompok Perbaikan Mutu – PP) as follows:
1. PP Mind Set achieved Platinum award.
1. KPM Cerry of Jagorawi Branch
2. PP Prima achieved Gold award.
2. KPM New Edelweiss of Jakarta-Cikampek Branch
3. KPM Lintas Sangkuriang achieved Silver award.
3. PP Pancasona of Jagorawi Branch
4. KPM Mojopahit achieved Silver award.
Corporate Social Responsibility
Corporate Governance
The accomplishments of Jasa Marga team were as follows:
4. PP Manlalu Lintas of Jakarta-Cikampek Branch
84
KPM) and Practical Improvement (Perbaikan Praktis –
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Financial Statements for the years ended 31 December 2012 and 2011. The said consolidate financial statements have been audited by Aryanto, Amir Jusuf, Mawar & Saptoto (RSM AAJ Associates) giving the opinion of the said Financial Statements present fairly, in all material respects.
Consolidated Statements of Comprehensive Income Table Financial Performance (Rp billion) Description
2011 Restated
2012
∆ Rp
∆%
Operating Revenues
6,485.77
9,070.21
2,584.44
39.85
Operating Expenses
4,155.30
6,094.98
1,939.68
46.68
Operating Income
2,330.46
2,975.23
644.77
27.67
Income for the Year Attributable to Owner of the Parent
1,196.30
1,602.09
405.79
33.92
EBITDA
3,137.75
3,876.79
739.04
23.55
176.56
235.91
59.35
33.61
Earnings per Share (full Rupiah amount)
Information for Investors
The following Management Discussion and Analysis in relation to Financial Review is based on the Company’s Consolidated
Human Capital Management
Financial Review
Chart Financial Performance (Rp billion)
Corporate Profile
9,070.21
6,485.77 6,094.98 4,155.30
3,876.79 1,602.09 235.91 176.56
1,196.30
Operating Revenues Operating Expenses 2012
Operating Income
Income for the Year Attributable to Owner of the Parent
EBITDA
Earnings per Share (full Rupiah amount)
2011 Restated
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
2,975.23 2,330.46
3,137.75
85
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s F inancia l Rev iew
Operating Revenues In 2012, the Company’s Operating Revenues reached Rp 9.07 trillion, representing an increase by 39.85% compared to that of 2011. The Company’s Operating Revenues derive from three main sources, namely Toll Revenues, Construction Revenues and Other Operating Revenues. The composition of Operating Revenues is as follows:
ManagementDiscussion Discussion and Management and Analysis Analysis
Management Reports
Table Composition of Operating Revenues 2011 Restated Description
2012
Contribution (%)
Amount
Contribution (%)
∆ Rp
∆%
Toll Revenues
4,843.22
74.67
5,581.75
61.54
738.52
15.25
Construction Revenues
1,496.23
23.07
3,344.99
36.88
1,848.76
123.56
1.58
(2.84)
-1.94
100.00 2,584.44
39.85
Other Operating Revenues
146.30
2.26
143.46
Total Operating Revenues
6,485.76
100.00
9,070.20
Chart Operating Revenues (Rp billion)
2012
5,581.75
2011 Restated
4,843.22 3,344.99
1,496.23 146.30
Toll Revenues
Corporate Governance
Amount
(Rp billion)
Construction Revenues
143.46
Other Operating Revenues
Toll Revenues Toll Revenues in total reached Rp 5.58 trillion, which increased by 15.25% from Rp 4.84 trillion in 2011. Toll Revenues of Branch Offices and Subsidiaries for 16 toll roads operated by the Company until the end of 2011 and 2012 are presented the following table. The increase in toll revenues was resulted in the increase in transaction traffic volume by 10.04% and tariff increase on
Corporate Social Responsibility
two (2) toll road sections operated by the Company, i.e. Prof. Dr. Sedyatmo and Jakarta-Cikampek by 10% on average.
86
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis
Segment
Section
Branch/ Subsidiary
1
Jagorawi
Jagorawi
Jagorawi
428.78
8.85
508.08
9.10
79.30
18.49
2
JakartaCikampek
JakartaCikampek
JakartaCikampek
806.84
16.66
896.24
16.06
89.40
11.08
249.66
5.15
388.78
6.97
139.12
55.72
3
CawangTomangCengkareng
696.83
14.39
674.78
12.09
(22.05)
-3.16
282.28
5.83
269.47
4.83
(12.81)
-4.54
525.60
10.85
655.38
11.74
129.78
24.69
969.38
20.02
1,100.16
19.71
130.78
13.49
94.22
1.95
115.57
2.07
21.35
22.66
Prof. Dr. Ir. Sedyatmo Jakarta Inner Ring Road/ JIRR
CawangTomangCengkareng
Padaleunyi 4
5
6
7
Purbaleunyi
Head Office (JORR)
JakartaTangerang
Other Segments
Cipularang Jakarta Outer Ring Road/JORR Ulujami-Pondok Aren
Purbaleunyi
PT Jalantol Lingkarluar Jakarta
Amount
Proportion (%)
Amount
Proportion (%)
Δ Rp
∆%
JakartaTangerang
JakartaTangerang
323.71
6.68
379.58
6.80
55.87
17.26
SurabayaGempol
SurabayaGempol
206.23
4.26
240.80
4.31
34.57
16.76
Semarang
Semarang
79.75
1.65
97.17
1.74
17.42
21.84
Belmera
Belmera
62.24
1.29
73.21
1.31
10.97
17.63
Palikanci
Palikanci
82.47
1.70
100.54
1.80
18.07
21.91
Bogor Outer Ring Road/ BORR
PT Marga Sarana Jabar
29.05
0.60
41.06
0.74
12.01
41.34
SurabayaMojokerto
PT Marga Nujyasumo Agung
3.27
0.07
13.41
0.24
10.14
310.09
SemarangSolo
PT Trans Marga Jateng
2.86
0.06
27.45
0.49
24.59
859.79
4,843.22
100.00
5,581.75
100.00
738.53
15.25
TOTAL
Constructing towards the Future
Annual Report 2012
Information for Investors
2012
No.
Corporate Profile
2011 Restated
(Rp billion)
Management Responsibility for Annual Report 2012
Table Toll Revenues of Branches and Subsidiaries
Human Capital Management
Fi n an cial Rev iew
87
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s F inancia l Rev iew
Toll Tariff The increase in the Company’s revenues is enabled by the increase in traffic volume and tariff adjustment. The provisions of tariff adjustment have been decided in Road Law No. 38 of 2005 Article 48 and Government Regulation No. 15 of 2005 Article 6 Paragraphs 1 and 2 stating that toll road operator has the right to adjust tariff every two years based in
Management Reports
inflation. Tariff adjustment is basically implemented to provide certainty of the return of investment made by investors. The regulations on which tariff increase is based are Law No. 38 of 2004 on Road and Government Regulation No. 15 of 2005 on Toll Road as follows: • Law No. 38 of 2004 Article 48 paragraph (3): “The evaluation and adjustment of toll tariff is conducted every two (2) years based on inflation”. • Government Regulation No. 15 of 2005 Article 68 Paragraph (1): “The evaluation and adjustment of toll tariff is conducted every two (2) years by BPJT (Indonesian Toll Road Authority) based on old tariff adjusted with inflation with
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
the formula: New Tariff = Old Tariff (1 + inflation). As of the present time, tariff increase has been in accordance with the schedule stipulated in the regulations mentioned above. The Government has showed their consistency in maintaining the climate of toll road investment to remain conducive. Increase in toll tariff in 2012 took place for two (2) sections as follows: Table Toll Tariff Increase in 2012 No.
Section
1.
Prof. Dr. Ir. Sedyatmo (Soekarno Hatta Airport)
2.
Jakarta-Cikampek
Effective from
Average Increase (%)
Basis of Tariff Increase
03 August 2012
10
Decision of the Minister of Public Works No. 212/KPTS/M/2012 dated 27 July 2012
08 October 2012
10
Decision of the Minister of Public Works No. 311/KPTS/M/2012 dated 01 October 2012
To increase traffic volume, the Company has conducted various efforts in order that the target of traffic volume is achieved. One of them is by widening toll road sections whose capacity is nearly 80%. This is intended provide smooth traffic flow passing the toll road sections. The Company has conducted widening of several toll roads which resulted in the increase in traffic volume of the respected toll roads, which in turn, boost the Company’s revenues.
Corporate Social Responsibility
Construction Revenues
88
Construction Revenues represent compensation services acknowledged by the Company and its Group in developing new toll roads and toll road capacity increase. Construction Revenues are measured using cost-plus method in which all expenses are directly attributable to additional assets acquisition with certain margin. The increase was caused by the increasing construction activities of the Company’s new toll roads in 2012, i.e. JORR W2 North, Semarang-Solo Section 2 Ungaran-Bawen, Nusa Dua-Ngurah Rai-Benoa, and Gempol-Pandaan.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis
Table Construction Revenues 2011 Restated Description Construction Revenues Construction Expenses
Amount
(Rp billion)
2012
Contribution (%)
Amount
Contribution (%)
∆ Rp
∆%
1,496.23
100.00
3,344.99
100.00
1,848.76
123.56
1,483.26
99.13
3,310.94
98.98
1,827.68
123.22
12.97
0.87
34.05
1.02
21.08
162.54
Construction Revenues - Net
Human Capital Management
Fi n an cial Rev i ew
Chart Construction Revenues and Construction Expenses (Rp billion)
3,310.94
1,496.23
Information for Investors
2012 3,344.99
2011 Restated
1,483.26
Other Operating Revenues Other Operating Revenues represents revenues deriving from the utilization of the Company’s assets both tangible and intangible. In 2012, Other Operating Revenues reached Rp 143.46 billion, showing a decrease by 1.94% compared to that of 2011. The Composition of Other Operating Revenues is presented in the following table: Table Other Operating Revenues 2011 Restated Description
Amount
(Rp billion)
2012
Contribution (%)
Amount
Contribution (%)
∆ Rp
∆%
Land Rent
58.39
39.91
75.22
52.44
16.83
28.82
Revenues from Advertisements
14.25
9.75
5.77
4.03
(8.48)
-59.49
Services of Operating Other Parties’ Toll Roads
10.87
7.43
21.93
15.29
11.06
101.78
Others
62.78
42.91
40.52
28.25
(22.24)
-35.45
146.30
100.00
143.46
100.00
(2.84)
-1.94
Total Other Operating Revenues
Corporate Profile
Construction Expenses
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Construction Revenues
89
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Fina nc ia l Rev iew
Chart Other Operating Revenues (Rp billion)
75.22 62.78 58.39
Management Reports
2011 Restated 40.52
21.93 14.25
10.87
5.77
ManagementDiscussion Discussion and Management and Analysis Analysis
2012
Land Rent
Revenues from Advertisements
Services of Operating Other Parties’ Toll Roads
Others
The highest contributing component of Other Operating Revenues in 2012 came from Land Rent amounting to Rp 75.22 billion, showing growth by 28.82% compared to that of 2011. This was resulted from the increase in rental cost. Revenues from Advertisements decreased from Rp 14.25 billion in 2011 to Rp 5.77 billion in 2012. This was caused by the decreasing interests in billboard along toll roads. Services of Operating Other Parties’ Toll Roads in 2012 rose by 101.78% from that of 2011. This was because the
Corporate Governance
Company succeeded in obtaining the contract for operating Ulujami-Pondok Ranji Toll Road Section. The component of Others decreases by 35.45% from Rp 62.78 billion in 2011 to Rp 40.52 billion in 2012. This was caused by the unaccomplished revenues of PT Sarana Marga Utama (the Company’s Subsidiary) in the business of toll road maintenance.
Operating Expenses The Company’s Total Operating Expenses in 2012 reached Rp 6.09 trillion, showing an increase compared to that in 2011. The increase was resulted from: •
Increase in human resources (HR) expenses due to improvement in performance-based remuneration system and toll road services improvement program. Additionally, HR expenses increase was also caused by the partial
Corporate Social Responsibility
operation of the Company’s new toll road sections, i.e. Semarang-Ungaran Section of Semarang-Solo Toll Road and Waru-Sepanjang Section of Surabaya-Mojokerto Toll Road. The additional concessions of PT Margabumi Adhikaraya (Gempol-Pandaan Toll Road) through acquisition and PT Jasamarga Bali Tol (Nusa Dua-Ngurah Rai-Benoa Toll Road) also contributed to the increase. •
Increase in depreciation expenses caused by the increase in the length of toll roads operated as a result of the operation of Semarang-Ungaran Section of Semarang-Solo Toll Road and Waru-Sepanjang Section of SurabayaMojokerto Toll Road. Moreover, increase in depreciation expenses was also caused by the capacity increase for toll road services by adding toll booths for transaction and widening toll roads.
•
Increase in operational expenses as a result of the operation of Semarang-Ungaran Section of Semarang-Solo Toll Road and Waru-Sepanjang Section of Surabaya-Mojokerto Toll Road.
90
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Man ag emen t D i s cus s i on and A nalysis Fi n an cial Rev i ew The composition of Operating Expenses is presented in the following table: Table Operating Expenses
(Rp billion) Contribution (%)
∆ Rp
Contribution (%)
Amount
∆%
Toll Collection Expenses
628.51
15.13
705.62
11.58
77.09
12.27
Toll Road Service Expenses
257.96
6.21
276.50
4.54
18.54
7.19
Toll Road Maintenance Expenses
757.36
18.23
882.24
14.47
124.88
16.49
Joint Operation Expenses
307.39
7.40
285.22
4.68
(22.17)
-7.21
1,483.26
35.70
3,310.94
54.32
1,827.68
123.22
General and Administrative Expenses
906.29
21.81
974.91
16.00
68.62
7.57
Other Income
(243.74)
-5.87
(400.17)
-6.57
(156.43)
64.18
Other Operating Expenses
58.25
1.40
59.69
0.98
1.44
2.46
Total Operating Expenses
4,155.30
100.00
6,094.98
100.00
1,939.68
46.68
Construction Expenses
Chart Operating Expenses
Human Capital Management
Amount
2012
Information for Investors
2011 Restated Description
(Rp billion)
2012 1,483.26
757.36
285.22
257.96
Toll Collection Expenses
Toll Road Service Expenses
Restated
906.29
307.39
400.17 243.74 58.25
Toll Road Maintenance Expenses
Joint Operation Expenses
Construction Expenses
General and Administrative Expenses
Other Income
59.69
Other Operating Expenses
Toll Collection Expenses grew by 12.27% in 2012 as a result of the use of non-subsidized fuel and toll services improvement program (green-green-green) as well as the full impact of new toll operation commenced in the late 2011, causing the increase in Toll Collection Expense. The increase was also caused by the growth of HR expenses due to change in remuneration system and increase in depreciation expenses in line with additional investment in toll equipment.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
276.50
628.51
2011
974.91
882.24
705.62
Corporate Profile
3.310,94
91
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Ma nagemen t D is cus s i o n a n d Ana l ys i s Fina nc ia l Rev iew
Toll Collection Expenses rose by 7.19% and it was caused by the increase in the expenses of repair and maintenance of toll road assets. Toll Road Maintenance Expenses increased by 16.49% and it was resulted from the increase in provision for overlay as well as repair and maintenance of assets as an impact of increasing road capacity on certain toll road sections and
Management Reports
increase in traffic volume causing greater potential road damage. Joint Operation Expenses fell by 7.21% and it was the result of the completion of joint operation at Tangerang Branch in mid of 2012. Construction Expenses rose by 123.22% and it was caused by the commencement of construction of JORR W2 North at the end of 2011, whereas construction of Nusa Dua-Ngurah Rai-Benoa and Gempol-Pandaan Toll Roads begun in 2012.
ManagementDiscussion Discussion and Management and Analysis Analysis
This is in line with the Company’s commitment to operating the said new sections in 2013. General and Administrative Expenses increased by 7.57% as a result of increase in professional fees as in relation to the hiring of HR consultants and consultants on new toll sections, rejuvenating of the Company’s office, office expenses and meeting expenses. Additional expenses from the Subsidiaries, that has started operating and that was just acquired/ founded in late 2011 (PT Margabumi Adhikaraya and PT Jasamarga Bali Tol) also contributed to the increase.
Operating Income The Company is committed to continuously perform efficiency sans reducing quality of operational services. In 2012, the Company succeeded in achieving Operating Income amounting to Rp 2.97 trillion, which increased by 27.67% compared to that of 2011. Table Operating Income
2011 Restated
Corporate Governance
Description
Operating
Amount
Contribution (%)
(Rp billion)
2012 Amount
Contribution (%)
∆ Rp
∆%
6,485.77
100.00
9,070.21
100.00
2,584.44
39.85
Operating Expenses
4,155.30
64.07
6,094.98
67.20
1,939.68
46.68
Operating Income
2,330.46
35.93
2,975.23
32.80
644.77
27.67
Revenues
Corporate Social Responsibility
The Ratio of Operating Expenses to Operating Revenues showed margin of 67.20%, an increase compared to that of the previous year with 64.07%. This indicates the increase in construction margin.
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Man ag emen t D i s cus s i on and A nalysis Fi n an cial Rev i ew
70% -
Human Capital Management
Chart Ratio of Operating Expenses to Operating Revenues
67.20%
59.10%
60% -
64.07%
58.93%
54.59%
Other Income (Expenses) The Company’s Other Income (Expenses) in 2012 amounted to Rp 340.48 billion, which rose by 83.56% compared
Information for Investors
12 20
11 20
20
10
09 20
20
08
50% -
to that of 2011. The increase was resulted from increase in interest expenses especially in Subsidiaries due to the Subsidiaries starting to operate, and the selling of shares of PT Citra Marga Nusaphala Persada Tbk.
Description
2011 Restated
2012
∆ Rp
∆%
Other Income
243.74
400.17
156.43
64.18
Other Expenses
(58.25)
(59.69)
(1.44)
2.46
185.49
340.48
154.99
83.56
Total Other Income (Expenses) - Net
Corporate Profile
(Rp billion)
Table Composition of Other Income (Expenses)
Income before Tax In 2012, Income before Tax of the Company rose by Rp 465.08 billion of 29.25% compared to that of the previous year. Income before Tax was the result of increase in operating expenses and cost efficiency performed by the Company. Table Income before Tax Description Income before Tax
2011 Restated 1,590.17
2012 2,055.25
(Rp billion) ∆ Rp
∆%
465.08
29.25
Estimated Income Tax Estimated Income Tax of 2012 rose by 26.42% from Rp 410.89 in 2011 to Rp 519.44 in 2012, as a result of the increase in Operating Income from the amount planned.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Income before Tax of 2012 and 2011 amounted to Rp 2.05 trillion and Rp 1.59 trillion, respectively. The increase in
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Ma nagemen t D is cus s i o n a n d Ana l ys i s Fina nc ia l Rev iew
Table Estimated Income Tax 2011 Restated Description
Amount
2012
Contribution (%)
Amount
∆ Rp
Contribution (%)
∆%
Current Tax
324.65
79.01
470.63
90.60
145.98
44.97
Deferred Tax
86.24
20.99
48.80
9.40
(37.44)
-43.40
410.89
100.00
519.44
100.00
108.56
26.42
Total Income Tax
Management Reports
(Rp billion)
Income (Loss) for the Year In 2012, the Company succeeded in reporting Income (Loss) for the Year of Rp 1.53 trillion, rising by 30.23%. This was caused by the increase in Operating Revenues and cost efficiency conducted by the Company. Income (Loss) for the Year is attributable to among others Owner of the Parent and Non-Controlling Interest. In 2012, Income (Loss) for the Year Attributable to Owner of the Parent rose by 33.92% compared to that of 2011, whereas Income (Loss) for the Year Attributable to Non-Controlling Interest increased by 289.25% compared to that of 2011.
Table Income (Loss) for the Year Description
2011 Restated
2012
94
∆ Rp
(Rp billion) ∆%
Income (Loss) for the Year Attributable to: Owner of the Parent Non-Controlling Interest
1,196.30
1,602.09
405.79
33.92
(17.02)
(66.27)
(49.25)
289.25
1,179.28
1,535.81
356.53
30.23
Total Income (Loss) for the Year
Other Comprehensive Income Other Comprehensive Income represents Unrealized Gain/Loss on Securities Available for Sale. In 2012, Other Comprehensive Income decrease by Rp 683.69 billion or 56.15% compared to that of 2011. Table Income (Loss) for the Year Description
2011 Restated
2012
∆ Rp
(Rp billion) ∆%
Unrealized Gain/Loss on Securities Available for Sale
1,217.70
534.01
(683.69)
-56.15
Total Other Comprehensive Income
1,217.70
534.01
(683.69)
-56.15
Corporate Social Responsibility
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
Income (Loss) for the Year is presented in the following table:
Annual Report 2012
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PT Jasa Marga (Persero) Tbk.
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Man ag emen t D i s cus s i on and A nalysis Fi n an cial Rev i ew
Comprehensive Income Comprehensive Income increased by 30.14% from Rp 1.18 trillion in 2011 to Rp 1.53 trillion in 2012. Comprehensive Income is presented in the following table:
2011 Restated
Description
2012
(Rp billion)
∆ Rp
Human Capital Management
Table Comprehensive Income
∆%
Comprehensive Income Attributable to: Owner of the Parent
1,197.52
1,602.62
405.10
33.83
(17.02)
(66.27)
(49.25)
289.25
1,180.49
1,536.34
355.85
30.14
Non-Controlling Interest Total Comprehensive Income for the Year
Similar to Income for the Year, Comprehensive Income is also attributable to Owner of the Parent and Non-Controlling Non-Controlling Interest each increased by 33.83% and 289.25%, respectively.
Earnings per Share In 2012, Earnings per Share rose by 33.61% to Rp 235.91 and it was resulted from the increase in Income (Loss) for the Year Attributable to Owner of the Parent in 2012.
Description Earnings per Share
2011 Restated
2012
176.56
(full Rupiah amount) ∆ Rp
235.91
∆% 59.35
33.61%
Consolidated Statements of Financial Position Assets The Company recorded Total Assets at the end of the year 2012 amounted to Rp 24.75 trillion, of which 18.30% and 81.70% is Current Assets and Non-Current Assets, respectively. The Company’s Total Assets in 2012 increased by Rp
Corporate Profile
Table Earnings per Share
Information for Investors
Interest. In 2012, Comprehensive Income Attributable to Owner of the Parent and Comprehensive Income Attributable to
3.83 trillion or by 18.35% from that of 2011. The increase was the result of the increase in Intangible Assets of Toll Road Concession Rights in line with the Company’s investment activities.
2011 Restated Description Current Assets
Amount
(Rp billion)
2012
Contribution (%)
Amount
Contribution (%)
∆ Rp
∆%
3,996.74
19.11
4.531.11
18.30
534.37
13.37
Non-Current Assets
16,919.15
80.89
20,222.43
81.70
3,303.28
19.52
Total Assets
20,915.89
100.00
24,753.55
100.00
3,837.66
18.35
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Table Composition of Assets
95
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Chart Composition of Assets (Rp billion) 24,753.55 20,915.89
Management Reports
20,222.43
2012 2011 Restated
16,919.15
3,996.74
ManagementDiscussion Discussion and Management and Analysis Analysis
4,531.11
Current Assets
Non-Current Assets
Total Aset
Current Asset The overall Current Assets of the Company increased by 13.37%, from Rp 3.99 trillion in 2011 to Rp 4.53 trillion in 2012. The increase was resulted from the increase in Cash and Cash Equivalents due to the delay in the realization of investment that was planned to use IPO proceeds and increase in Cash Flows from Operating Activities. Table Composition of Current Assets 2011 Restated
Corporate Governance
Description
Amount
Cash and Cash Equivalents
2012
Contribution (%)
Amount
Contribution (%)
∆ Rp
∆%
3,764.00
94.18
4,302.38
94.95
538.38
14.30
Short-Term Investment
38.78
0.97
7.82
0.17
(30.96)
-79.84
Account Receivables
87.99
2.20
64.09
1.41
(23.90)
-27.16
101.98
2.55
155.52
3.43
53.54
52.50
3.96
0.10
1.29
0.03
(2.67)
-67.44
3,996.74
100.00
4,531.11
100.00
534.37
13.37
Prepaid Expenses Prepaid Tax Corporate Social Responsibility
(Rp (Rpbillion) miliar)
Total Current Assets
Current Assets consist of Cash and Cash Equivalents, Short-Term Investment, Account Receivables, Prepaid Expenses, and Prepaid Tax; and the composition of each in 2012 was 94.95%, 0.17%, 1.41%, 3.43%, and 0.03%, respectively. The highest component of Current Assets was Cash and Cash Equivalents rising by 14.30% from Rp 3.76 trillion in 2011 to Rp 4.30 trillion in 2012. This was the result of the delay in using IPO proceeds following the delay in equity contribution as the Subsidiaries were still using the Government’s revolving fund.
96
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Man ag emen t D i s cus s i on and A nalysis Fi n an c ial Rev iew
In 2012, compared to 2011, Short-Term Investment fell by 79.84%, Account Receivables decreased by 27.16%, Prepaid Expenses 2012 increased by 52,50%, and Prepaid Tax 2012 decreased by 67.44%.
Table 2011 Restated Description Appropriated Funds
Amount
(Rp billion)
2012
Contribution (%)
Contribution (%)
Amount
∆ Rp
∆%
45.20
0.27
165.04
0.82
119.84
265.14
Investment in Associates
200.92
1.19
175.74
0.87
(25.18)
-12.53
Other Long-Term Investment
114.79
0.68
241.60
1.19
126.81
110.46
Fixed Assets
397.09
2.35
422.50
2.09
25.41
6.40
15,571.08
92.03
18,553.81
91.75
2,982.73
19.16
Others
213.19
1.26
332.71
1.65
119.52
56.06
Goodwill
41.84
0.25
41.84
0.21
-
0.00
335.00
1.98
289.15
1.43
(45.85)
-13.69
16,919.15
100.00
20,222.43
100.00
3,303.28
19.52
Intangible Assets Toll Road Concession Rights
Other Assets Total Non-Current Assets
Non-Current Asset consist of Appropriated Funds, Investment in Associates, Other Long-Term Investment, Fixed Assets, Intangible Assets – Toll Road Concession Rights, Intangible Assets – Others, Goodwill and Other Assets; and the composition of each in 2012 was 0.82%, 0.87%, 1.19%, 2.09%, 91.75%, 1.65%, 0.21% and 1.43%, respectively.
Information for Investors
increase was resulted from investing activities at Subsidiaries in the form of construction of new toll road sections.
Corporate Profile
The total Non-Current Assets rose by 19.52% to Rp 20.22 trillion compared to that of 2011 with Rp 16.91 trillion. The
Human Capital Management
Non-Current Assets
In 2012, compared to 2011, Appropriated Funds increased by 265.14%, Investment in Associates decreased by 12.53%, Other Long-Term Investment increased 110.46%, Fixed Assets increased by 6.40%, Intangible Assets – Toll Road Concession Rights increased by 19.16%, Intangible Assets – Others increased by 56,06%, and Other Assets decreased
Liabilities The Company’s Total Liabilities as of the end of 2012 amounted to Rp 14.96 trillion, showing an increase by Rp 2.41 trillion or by 19.20% compared to that of 2011. The Company’s Liabilities is represented by Short-Term Liabilities and Long-Term Liabilities, which in 2012 the composition of each was 44.42% and 55.58%, respectively. Table Composition of Liabilities (Rp billion) 2011 Restated Description
Amount
2012
Contribution (%)
Amount
Contribution (%)
∆ Rp
∆%
Short-Term Liabilities
4,069.50
32.41
6,648.16
44.42
2,578.66
63.37
Long-Term Liabilities
8,485.87
67.59
8,317.60
55.58
(168.27)
-1.98
12,555.38
100.00
14,965.76
100.00
2,410.38
19.20
Total Liabilities
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
by 13.69%.
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Ma nagemen t D is cus s i o n a n d Ana l ys i s Fina nc ia l Rev iew
Chart Composition of Liabilities (Rp billion)
2012 2011 Restated
8,485.87 8,317.60
Management Reports
6,648.16 4,069.50
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
Short-Term Liabilities
Short-Term Liabilities As of the end of 2012, the Company’s Short-Term Liabilities rose by Rp 2.57 trillion or by 63.37% from that of 2011. Short-Term Liabilities amounted to Rp 6.64 trillion and Rp 4.06 trillion in 2012 and 2011, respectively. The increase in Short-Term Liabilities was particularly resulted from the increase in Contractors Payable and Accrued Expenses. Maturing bonds payable in 2013 also contributed to Current Liabilities of 2012. Table Composition of Short-Term Liabilities Description
2011 Restated
2012
∆ Rp
∆%
1.38
(44.10)
-32.39
1,325.01
19.93%
716.09
117.60
2.08
281.37
4.23%
196.84
232.85
42.63
1.05
36.38
0.55%
(6.25)
-14.66
480.07
11.80
437.31
6.58%
(42.76)
-8.91
Contribution (%)
Accounts Payable
136.14
3.35
92.04
Contractors Payable
608.92
14.96
Taxes Payable
84.53
Other Payables Accrued Expenses
Amount
Contribution (%)
Short-Term Maturities of Long-Term Liabilities 1,631.87
40.10
1,640.77
24.68
8.91
0.55
-
0.00
1,771.61
26.65
1,771.61
-
14.44
0.35
5.88
0.09
(8.56)
-59.25
0.82
0.02
0.82
0.01
(0.00)
0.00
Land Acquisition Liabilities
867.27
21.31
809.43
12.18
(57.84)
-6.67
Financial Lease Payable
12.12
0.30
18.47
0.28
6.35
52.38
190.66
4.69
229.02
3.44
38.36
20.12
4,069.50
100.00
6,648.16
100.00
2,578.66
63.37
Bonds Payable Corporate Social Responsibility
(Rp billion)
Amount
Bank Loans
Loan from Government Joint Operation Liabilities
Provision for Overlay Total
98
Long-Term Liabilities
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
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Man ag emen t D i s cus s i on and A nalysis
Short-Term Liabilities along with the composition in 2012 were Accounts Payable 1.38%, Contractors Payable 19.93%, Taxes Payable 4.23%, Other Payables 0.55%, and Accrued Expenses 6.58%. The highest component of Short-Term Liabilities was therefore Contractors Payable. Short-Term Maturities of Long-Term Liabilities consist of components of Bank Loans, Bonds Payable, Loan from Government, Joint Operation Liabilities, Financial Lease Payable, Land Acquisition Liabilities and Provision for Overlay, which, in 2012, the overall represented 67.33% of the Total Short-Term Liabilities of the Company in 2012.
Human Capital Management
Fi n an c ial Rev iew
Long-Term Liabilities Long-Term Liabilities as of the end of 2012 amounting to Rp 8.31 trillion decreased by Rp 168.28 billion or by
Employee Benefits Liabilities 3.33%. Table Composition of Long-Term Liabilities Description Unearned Revenue Deferred Tax Liabilities
2011 Restated Amount
(Rp billion)
2012
Contribution (%)
Amount
∆ Rp
Contribution (%)
∆%
49.29
0.58
57.11
0.69
7.82
15.87
422.31
4.98
466.56
5.61
44.26
10.48
Long-Term Liabilities – Net of Short-Term Maturities Bank Loans
1,550.70
18.27
3,046.23
36.62
1,495.53
96.44
Bond Payable
5,516.48
65.01
3,749.44
45.08
(1,767.04)
-32.03
5.88
0.07
-
0.00
(5.88)
-100.00
Joint Operation Liabilities
23.98
0.28
21.38
0.26
(2.60)
-10.83
Land Acquisition Liabilities
307.92
3.63
374.10
4.50
66.18
21.49
Financial Lease Payable
54.64
0.64
27.35
0.33
(27.29)
-49.94
108.85
1.28
95.77
1.15
(13.08)
-12.02
Employee Benefits Liabilities
202.45
2.39
202.45
2.43
-
0.00
Total Long-Term Liabilities
243.33
2.87
277.16
3.33
33.82
13.90
8,485.87
100.00
8,317.60
100.00
(168.28)
-1.98
Loan from Government
Provision for Overlay Other Long-Term Liabilities
Total Long-Term Liabilities
Constructing towards the Future
Annual Report 2012
Corporate Profile
5.61%, Long-Term Liabilities – Net of Short-Term Maturities 87.94%, Other Long-Term Liabilities 2.43%, and
Management Responsibility for Annual Report 2012
Long-Term Liabilities along with the composition in 2012 were Unearned Revenue 0.69%, Deferred Tax Liabilities
Information for Investors
1.98% compared to that of 2011.
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PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Fina nc ia l Rev iew
Unearned Revenue increased by 15.87% caused by increased in revenues from land rent, advertisements, rest areas and other revenues from ROW of toll road. Deferred Tax Liabilities increased by 10.48% caused by temporary difference between recorded amount of assets and liabilities according to financial statements and the tax base of assets and liabilities, particularly due to the increase in fixed assets as a result of construction. Long-Term Liabilities – Net of Short-Term Maturities consist of Bank Loans (increased by 96.44%), Bonds Payable
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
Management Reports
(decreased by 32.03%), Loan from Government (decreased by 100%), Joint Operation Liabilities (decreased by 10.83%), Land Acquisition Liabilities (21.49%), Financial Lease Payable (decreased by 49.94%), and Provision for Overlay (decreased by 12.02%). There was an increase in Bank Loans from Rp 1,150.70 billion to Rp 3,046.23 billion or rose by 96.44% resulted from increasing bank loans at Subsidiaries in line with construction activities of new toll roads. Employee Benefits Liabilities decreased by 13.90%.
Equity Equity rose by 17.07% or by Rp 1.42 trillion from Rp 8.36 trillion in 2011 to Rp 9.78 trillion in 2012. The components of Equity and the composition of each in 2012 were Share Capital 34.74%, Additional Paid In Capital 25.07%, Unrealized Gain (Loss) on Securities Available for Sale 0.03%, Retained Earnings 28.14% and Non-Controlling Interests 12.02%. Table Composition of Equity (Rp billion) 2011 Restated Description
Amount
2012
Contribution (%)
∆ Rp
∆%
Share Capital
3,400.00
40.67
3,400.00
34.74
-
0.00
Additional Paid In Capital
2,335.52
27.94
2,453.89
25.07
118.37
5.07
2.75
0.03
3.29
0.03
0.54
19.29
1,714.44
20.51
2,753.96
28.14
1,039.52
60.63
Treasury Stocks
(12.26)
-0.15
-
0.00
12.26
-100.00
Non-Controlling Interests
920.03
11.00
1,176.63
12.02
256.60
27.89
8,360.50
100.00
9,787.78
100.00
1,427.28
17.07
Unrealized Gain (Loss) on Securities Available for Sale Retained Earnings
Corporate Social Responsibility
Total Equity
100
Contribution (%)
Amount
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis Fi n an cial Rev iew
Consolidated Statements of Cash Flows In 2012, Cash Flows from Operating Activities amounted to Rp 1.92 trillion or grew by 8.05% compared to that of 2011. The increase among others was caused by the increase in operating revenues and cost efficiency.
Net Cash Flows Used in Investing Activities In 2012, Cash Flows from Investing Activities reached Rp 2.63 trillion or rose by 17.73% compared to that of 2011. The increase was resulted from among others the development of new toll roads at Subsidiaries.
Net Cash Flows Provided from Financing Activities In 2012, Cash Flows from Financing Activities 2012 reached Rp 1.24 trillion, increased by 503.99% compared to that
Human Capital Management
Net Cash Flows Provided from Operating Activities
of 2011. The increase was the result of the receiving of bank loans at Subsidiaries in line with the start of toll road constructions.
Net Cash Flows Provided from Operating Activities
Amount
2012
Contribution (%)
Amount
Contribution (%)
∆ Rp
∆%
47.44
1,929.47
44.85
143.74
8.05
(2,239.51)
-59.50
(2,636.53)
-61.28
(4,876.04)
17.73
206.20
5.48
1,245.43
28.95
1,039.23
503.99
Net Increase (Decrease) in Cash and Cash Equivalents
(247.58)
6.58
538.37
12.51
290.79
317.45
Cash and Cash Equivalents at the Beginning of the Year
4,011.59
106.58
3,764.00
87.49
(247.59)
-6.17
Cash and Cash Equivalents at End of the Year
3,764.00
100.00
4,302.38
100.00
538.38
14.30
Net Cash Flows Used in Investing Activities Net Cash Flows Provided from Financing Activities
Management Responsibility for Annual Report 2012
1,785.73
Corporate Profile
2011 Restated Description
Information for Investors
Table Cash Flows (Rp billion)
Constructing towards the Future
Annual Report 2012
101
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Fina nc ia l Rev iew
Chart Cash Flows (Rp billion) 4,302.38
4,011.59
3,764.00
3,764.00
2,636.53 2,239.51
1,929.47
Management Reports
1,785.73
538.37
1,245.43
247.58 206.20
Net Cash Flows Provided from Operating Activities
Net Cash Flows Used in Investing Activities
Net Cash Flows Provided from Financing Activities
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at the Beginning of the Year
Cash and Cash Equivalents at End of the Year
2012
Corporate Social Responsibility
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
2011 Restated
102
Segment Information As of the end of 2012, the Company has operated sixteen (16) toll road sections, four (4) of which are operated by the Subsidiaries and twelve (12) are operated by nine (9) Branch Office. Operating Revenues, Operating Expenses, and Profit (Loss) before Tax of Jasa Marga and its Subsidiaries in each segment are presented in the following table: Table Operating Revenues by Business Segment Description
2011 Restated Contribution Amount (%)
2012 Amount
Contribution (%)
(Rp million) ∆ Rp
∆%
Head Office (JORR)
872,701
13.46
1,237,370
13.64
364,669
41.79
Jagorawi
416,386
6.42
549,623
6.06
133,237
32.00
Jakarta-Cikampek
688,188
10.61
954,927
10.53
266,739
38.76
Purbaleunyi
712,027
10.98
963,334
10.62
251,307
35.29
Jakarta-Tangerang
393,735
6.07
418,618
4.62
24,883
6.32
Cawang-TomangCengkareng
860,208
13.26
1,138,031
12.55
277,823
32.30
Others
2,542,527
39.20
3,808,316
41.99
1,265,789
49.78
Consolidated
6,485,772
100.00
9,070,219
100.00
2,584,447
39.85
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis Fi n an cial Rev iew
Table Operating Expenses by Business Segment
(Rp million) ∆ Rp
∆%
Head Office (JORR)
548,637
12.64
826,502
12.84
277,865
50.65
Jagorawi
234,936
5.41
292,770
4.55
57,834
24.62
Jakarta-Cikampek
444,679
10.25
362,061
5.63
(82,618)
-18.58
Purbaleunyi
249,479
5.75
270,709
4.21
21,230
8.51
Jakarta-Tangerang
210,438
4.85
191,335
2.97
(19,103)
-9.08
Cawang-TomangCengkareng
236,503
5.45
306,165
4.76
69,662
29.46
Others
2,415,542
55.65
4,186,074
65.05
1,770,532
73.30
Consolidated
4,340,213
100.00
6,435,616
100.00
2,095,402
48.28
Table Profit (Loss) before Tax by Business Segment
(Rp million)
2011 Restated Description
Contribution (%)
Amount
∆ Rp
Contribution (%)
∆%
(213,158)
-13.40
(127,724)
-6.21
85,434
-40.08
Jagorawi
181,346
11.40
258,306
12.57
76,960
42.44
Jakarta-Cikampek
243,392
15.30
587,127
28.57
343,735
141.23
Purbaleunyi
462,161
29.05
693,575
33.75
231,414
50.07
Jakarta-Tangerang
182,942
11.50
229,413
11.16
46,471
25.40
Cawang-TomangCengkareng
620,852
39.03
831,545
40.46
210,693
33.94
Others
113,222
7.12
(416,986)
-20.29
(530,208)
-468.29
1,590,756
100.00
2,055,257
100.00
464,499
29.20
Consolidated
Management Responsibility for Annual Report 2012
Head Office (JORR)
Amount
2012
Human Capital Management
Contribution (%)
Amount
Information for Investors
Amount
2012
Contribution (%)
Corporate Profile
2011 Restated Description
Constructing towards the Future
Annual Report 2012
103
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Fina nc ia l Rev iew
Solvability and Collectability of Receivables Solvability Short-Term Solvability is reflected by Liquidity Ratio, whereas Liquidity Level is indicated by Current Ratio. In 2012, the Company liquidity level was 68.16%
Management Reports
Long-Term Solvability is reflected by solvability ratio. As at the end of 2012, the Company’s Debt to Equity Ratio was 1.52 times, an increase compared to that of 2011 reaching 1.50 times. The ratio of EBITDA to Interest Expense of Interest Coverage Ratio of the Company in 2012 reached 4.23 times, a decrease compared to that of 2011 reaching 4.24 times. The abovementioned condition suggests that the Company’s Financial Covenants are still in the corridor required in Trustee Agreement and that the Company remains in a sound financial condition is in sound financial condition. Table Financial Ratios 2011 and 2012
ManagementDiscussion Discussion and Management and Analysis Analysis
Description
2011
2012
Debt to Equity Ratio
1.50
Net Debt/EBITDA
4.00
3.86
EBITDA/Interest Expense
4.24
4.23
Collectability of Receivables The Company’s highest receivables are employees’ receivables which are collected each month simultaneously with the payment of wages.
Capital Structure Table Capital Structure Description
Corporate Governance
1.52
(Rp billion) 2012
Short-Term Liabilities
6,648.16
Long-Term Liabilities
8,317.60
Total Liabilities
14,965.76
Total Equity
9,787.78
Debt to Equity Ratio
1.52 : 1
Capital Structure Policy The Company has set its capital in proportion against the risk. The Company manages capital structure and makes
Corporate Social Responsibility
adjustment in view of changes in economic condition, on which risk characteristics of assets are based. Consistent
104
with other companies in the industry, the Company monitors equity using ratio of debt to equity as the basis. The ratio is obtained by dividing Total Liabilities by Equity. In 2012, Debt to Equity Ratio reached 1.52 times; hence the Company was capable of maintaining its debt to equity ratio at maximum 5:1, in accordance with creditor’s requirement.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis Fi n an c ial Rev i ew
In 2012, the Company did not have material commitments related to capital investment.
Material Increase/Decrease in Net Revenues in relation to Volume of Sales of New Services Increase in the Company’s Net Revenues Perseroan was resulted from the start of operation of several Subsidiaries hence contributing revenues. Additionally, increase in transaction traffic volume passing the Company’s toll roads also served as another contributing factor.
Subsequent Material Information
Human Capital Management
Material Commitments Related to Capital Investment
There is no significant event occurring after the Balance Sheets date requiring adjustment and disclosure in the Financial Statements.
Comparison of 2012 Target and Realization exceeded the said targets with Revenues and Operating Income each reaching Rp 5.72 trillion and Rp 2.63 trillion, respectively. Table Comparison of 2012 Target and Realization No.
Description
Target 2012
Realization 2012
(Rp billion)
Remarks
1.
Revenues
5.597,47
5.725,22
Excluding Construction Revenues
2.
Operating Income
2.322,44
2.634,76
Excluding Other Income and Expenses
Information for Investors
For 2012, the Company targeted Revenues of Rp 5.59 trillion and Operating Income of Rp 2.32 trillion. The realization
Target/Projection to Achieve Next Year No.
Description
Target 2012
(Rp billion)
Remarks
1.
Revenues
6,506.90
Excluding Construction Revenues
2.
Operating Income
2,511.37
Excluding Other Income and Expenses
Corporate Profile
Table 2012 Projection
The Company is targeting to reach Revenues of Rp 6.50 trillion and Operating Income of Rp 2.51 trillion in 2013. The Company believes that the targets will be achieved as its new toll road sections will be operating accompanied with toll
Management Responsibility for Annual Report 2012
tariff increase in 2013.
Constructing towards the Future
Annual Report 2012
105
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s Fina nc ia l Rev iew
Dividend Policy The Company’s policy on dividend payout is 20% minimum; however, the realization from 2009 to 2011, the Company’s dividend payout was 60%, 60%, and 40%, respectively. The Company plans a dividend payment that gives regular earning or return to the Shareholders, yet still enables the Company to benefit from most of the retained earnings to be reinvested in the Company’s business activities. The amount of dividend payout ratio is decided at the Annual General Meeting of
ManagementDiscussion Discussion and Management and Analysis Analysis
Management Reports
Shareholders based on the Directors’ proposal. Historical data on dividend payment is shown in the following table: Table 2012 Dividend Payment (Rp billion) Description
2008
2009
2010
2011
2012
Net Income
707.80
992.69
1,193.49
1,339.46
1,602.09
Amount of Dividend
353.90
595.62
716.09
535.78
.
50%
60%
60%
40%
.
Dividend Ratio Time of Payment
2009
2010
2011
2012
2013
Amount Paid
353.90
595.62
716.09
535.78
.
Dividend per Share
52.23
87.91
105.68
78.88
.
*) Note: For the year ended 31 December 2012, dividend will be decided at GMS in 2013
Use of IPO Proceeds The net IPO proceeds that the Company received in 2007 amounted to Rp 3.36 trillion. As of the end of 2012, Use of IPO Proceeds reached Rp 1.45 trillion or 42.98% of the total net proceeds, in line with land availability for construction. The overall proceeds from IPO will be completely used up for toll road development at the same time as all new toll road
Corporate Governance
sections are in operation. The Use of IPO Proceeds consists of Expansion, Refinancing and Working Capital. As of the end of 2012, the Company’s Expansion in the form of equity contribution to its Subsidiaries Rp 1,297.07 billion, i.e. PT Marga Sarana Jabar for Bogor Outer Ring Road Toll Road, Rp 96.52 billion; PT Trans Marga Jateng for SemarangSolo Toll Road, Rp 551.19 billion; PT Marga Kunciran Cengkareng for Cengkareng-Kunciran Toll Road, Rp 99.50 billion; PT Marga Trans Nusantara for Kunciran-Serpong Toll Road, Rp 52.80 billion; PT Marga Nujyasumo Agung for SurabayaMojokerto Toll Road, Rp 387.06 billion; and PT Trans Marga Jatim Pasuruan for Gempol-Pasuruan Toll Road, Rp 110 billion. In terms of Refinancing, the Company used the proceeds to settle the payment of Jasa Marga Bond VIII Series M Year Corporate Social Responsibility
2000 amounting to Rp 150 billion, whereas the use for Working Capital has not yet been realized.
106
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis Fi n an cial Rev i ew
31-12-2011
31-12-2012
3,468.00
3,468.00
101.45
101.45
Net Proceeds
3,366.55
3,366.55
Expansion
1,070.36
1,297.07
PT Marga Sarana Jabar, Construction of BORR Toll Road
96.52
96.52
PT Trans Marga Jateng, Construction of SemarangSolo Toll Road
461.19
551.19
PT Marga Kunciran Cengkareng, Construction of Cengkareng-Kunciran Toll Road
81.50
99.50
PT Marga Trans Nusantara, Construction of KunciranSerpong Toll Road
45.60
52.80
315.56
387.06
70.00
110.00
Refinancing
150.00
150.00
Payment of Principal of Bond Series M
150.00
150.00
-
-
1,220.36
1,447.07
2,146.19
1,919.49
Proceeds from IPO Public Offering Expenses
Human Capital Management
(Rp billion)
PT Marga Nujyasumo Agung, Construction of Surabaya-Mojokerto Toll Road PT Trans Marga Jatim Pasuruan, Construction of Gempol-Pasuruan Toll Road
Working Capital Total IPO Proceeds Remaining
Information for Investors
Equity Contribution to Subsidiaries
Material Information Investment, Expansion, Divestment, and Acquisition In 2012, the Company did not have Material Information Investment, Expansion, Divestment, and Acquisition.
Information on Material Transaction with Conflict of Interest and/or Related Parties Transaction
Corporate Profile
Table Use of IPO Proceeds as of 31 December 2012
As part of the Company’s strategic plan to continuously make toll road expansion and as part of the Company’s policy to develop toll roads that are connected to the already operating toll roads in order to mutually support the guarantee the achievement of traffic volume target, for both existing as well as new toll roads, the Company conducted corporate action of buying shares at PT Trans Lingkar Kita Jaya (TLKJ). The said corporate action was affiliated transaction in relation to the Buying of TLKJ Shares owned by PT Waskita Karya (Persero) “(Waskita)” of 18.14% (eighteen point one four percent) or 76,208 (seventy-six thousand, two hundred eight) shares. Waskita as the seller is the Company’s related party, hence the abovementioned transaction was included in related parties transaction referred in Regulation No. lX.E.1 yet did not contain Conflict of Interest and was not included in Material Transaction referred in Regulation of Bapepam-LK No. lX.E.2 on Material Transaction and Change in Main Business Activities Attachment of Decision of Chairman of Bapepam-LK No. Kep 413/BL/2009 dated 25 November 2009.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Transaction of Buying Shares at PT Trans Lingkar Kita Jaya (TLKJ)
107
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagemen t D is cus s i o n a n d Ana l ys i s F inancia l Rev iew
To guarantee the fairness of the above transaction, the Company has appointed (i) KJPP Suwendho Rinaldy & Rekan as Independent Party with the duties of conducting appraisal of TLKJ share price and giving opinion on the fairness of value of investment, (ii) PT Gandamega Serasi as Financial Consultant to conduct due diligence in the financial aspect and feasibility study by means of research and analysis for the buying of Waskita shares, (iii) PT Multi Phi Beta as Engineering Consultant to conduct review in the traffic and technical aspects particularly on Cinere-Jagorawi Toll Road section, and (iv)
Management Reports
Karimsyah Law Firm as legal consultant conducting legal due diligence on TLKJ. Simultaneously, the Company also bought TLKJ shares owned by PT Jalantol Lingkarluar Jakarta (PT JLJ, the Company’s Subsidiary with 99% ownership of the Company) of 13,000 (thirteen thousand) shares or 3.01% (three point zero one percent). The share price used was the same as the one used by the Company in buying Waskita’s shares. The Realization of the abovementioned transaction is shown in the following table:
Corporate Governance
ManagementDiscussion Discussion and Management and Analysis Analysis
Table Buying of Shares of PT Waskita Karya at PT TLKJ Process
Payment
Date of Transaction
Amount (Rp)
PPJB
I
29-05-2012
58,965,597,064
AJB
II
06-08-2012
58,965,597,064
Total (Rp)
117,931,194,128
Table Buying of Shares of PT JLJ at PT TLKJ Process
Payment
Date of Transaction
Amount (Rp)
PPJB
I
11-06-2012
16,759,327,530
AJB
II
06-08-2012
3,358,055,470
Total (Rp)
20,117,383,000
Remarks: * PPJB (Perjanjian Pengikatan Jual Beli – Sale Purchase Commitment Agreement) ** AJB (Akta Jual Beli – Deed of Sale and Purchase)
Changes in Legislation Significantly Affecting the Company Law on Land Acquisition for Public Interest Development On 16 December 2011, the House of Representatives has ratified the Bill on Land Acquisition for Public Interest Development. The Law No. 02 of 2012 on Land Acquisition for Public Interest Development has also been signed by the
Corporate Social Responsibility
President on 14 January 2012 hence it has become effective.
108
The said Law is highly required to accelerate infrastructure development which begins with land availability. With the presence of Law on Land Acquisition, the Government then has a firm legal basis as well as clear and measurable mechanism. In general, the Law consisting of 61 articles is deemed quite progressive particularly with the existence of articles regulating maximum time limit for each case to be decided. The law also regulates compensation options of not only in the form of money but in other options as well.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Man ag emen t D i s cus s i on and A nalysis
leap in development and it is expected to provide
• Land acquisition will be conducted by BPN (National Land Agency).
accelerative effect on development and people’s
• The provisions and procedures of implementation of
welfare. The impact of infrastructure development is
land acquisition consist of among others inventory
also expected to ease and cut down cost born by the
and identification of data on both physical land
Government. It is the development of infrastructure that
as well as entitled party; decision of amount of
is expected to lower the high cost of logistics causing
compensation based on result of appraisal carried
the declining competitiveness of the country. With two
out by appraisal consultant or public appraiser;
third of the logistics components being transportation,
discussion; giving out of compensation; release of
the completion of infrastructure development is
rights upon land acquisition object; and handover of
expected to reduce logistic cost gradually. Improvement
land acquisition result to the authority requiring land.
in transportation system, including toll roads, is often
• Compensation may be given in the form of money,
hampered by the hurdles of land acquisition. A number
land replacement, relocation, share ownership, or
of toll projects have been stalled for years, impeded by land acquisition issues.
other forms agreed by both parties. • Sources of funding for land acquisition derive from APBN (state budget) and/or APBD (local budget).
The issuance of Land Acquisition Law is expected to speed up the availability of land for the development
In addition to several main regulations mentioned above,
of new toll roads so that the Company is able to begin
the Presidential Regulation also firmly and concretely
with the construction without delays, hence toll road
regulates the time period of each stage in the process
operation becomes more predictable.
of land acquisition for public interest development. It
Information for Investors
The ratification of Law on Land Acquisition is a major
Human Capital Management
Fi n an cial Rev i ew
is firmly stated in the Presidential Regulation that the
Presidential Regulation on the Implementation of Land Acquisition for Public Interest Development
overall time for implementing land acquisition for public
To carry out the provision of Articles 53 and 59 of Law
For the Company, with the presence of the Presidential
No. 2 of 2012 on Land Acquisition of Public Interest
Regulation, it is expected that the schedule of toll road
Development, on 07 August 2012 the Presidential
project development becomes more predicted as each
Regulation No. 71 of 2012 on Implementation of Land
stage in land acquisition implementation is carried out
Acquisition Tanah for Public Interest Development was
within a fixed timeline.
for public interest starting from the stages of planning,
Changes in Accounting Policy Affecting the Company
preparation, implementation to the handover stage.
The Company has applied new Financial Accounting
articles regulates the procedures of land acquisition
Standards (PSAK and ISAK) along with the revisions The said Presidential Regulation regulates the main
effective from 01 January 2012. Changes in accounting
issues encompassing among others as follows:
policies have been made as required, in accordance with
• Each authority requiring land for public interest
the transitional provisions in the respective standards
development is obligated to prepare complete
and interpretations. The new standards, revision to the
documents needed, and the Governor will then
standards and interpretation of the standards that are
form the Team of Preparation among others to
mandatorily applied for the first time for the financial
carry out the process of notifying the development
year beginning from 01 January 2012 and are relevant
plan, conducting preliminary data collection on the
to the Company are ISAK 16: “Service Concession
location of development plan, and conducting public
Arrangements” and ISAK 22 “Service Concession
Corporate Profile Management Responsibility for Annual Report 2012
legalized. The Presidential Regulation consisting of 126
interest development is 583 days maximum.
consultancy on development plan.
Constructing towards the Future
Annual Report 2012
109
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Ma nagem en t D iscus s i o n a nd An a l ys i s F inancia l Rev iew
Arrangements: Disclosure”. Both interpretations bring
• The Group has used the previous carrying amount of
the following significant impacts: 1. In such toll road concession arrangements
intangible assets (regardless of the previous assets
between the Group and the Government, the
classification) as carrying amount at the beginning of
Group provides two separate services which
the earliest period presented; and
Management Reports
are construction of toll roads and operation and
ManagementDiscussion Discussion and Management and Analysis Analysis
beginning of the earliest period presented;
• The Group has conducted impairment test of the
maintenance of toll roads.
value of the intangible assets at the beginning of the
2. For toll roads construction services, the Group
earliest period presented.
records revenue and cost of construction in accordance with PSAK 34 (Revised 2010)
Following are other new standards, revision to the
“Construction Contracts”, while for the operation
standards and interpretations of the standards that are
and maintenance services, the Group records at
effective from 01 January 2012 and are relevant but do
the time when services is rendered in accordance
not have significant impact to the Group:
with PSAK 23 (Revised 2010) “Revenue”. The
•
services in the form of rights for group to operates
•
PSAK 16 (Revised 2011): Fixed Assets
toll roads and receives benefit from public who
•
PSAK 24 (Revised 2010): Employee Benefits
use toll roads. The Group records these rights
•
PSAK 26 (Revised 2011): Borrowing Costs
as intangible assets at cost value of toll roads
•
PSAK 30 (Revised 2011): Lease
construction services. Prior to implementing these
•
PSAK 34 (Revised 2010): Constructions Contract
interpretations, the Group recorded toll roads
•
PSAK 46 (Revised 2010): Income Taxes
expenditures as fixed assets.
•
PSAK 50 (Revised 2010): Financial Instruments: Presentation
3. In operating toll roads, the Group has the obligation maintain the toll roads quality standards by
•
PSAK 53 (Revised 2010): Share – Based Payment
conducting periodical toll road overlay. The cost of
•
PSAK 55 (Revised 2011): Financial Instruments: Recognition and Measurement
periodical overlay is estimated based on the traffic Corporate Governance
PSAK 10 (Revised 2010): The Effect of Change in Foreign Exchange Rates
Government provides compensation for both
volume in order to meet the quality standards.
•
4. All aspects of service concession arrangements
•
PSAK 56 (Revised 2011): Earnings per Share PSAK 57 (Revised 2011): Provision, Contingent Liabilities and Assets
are considered in determining the appropriate disclosures in the notes to the financial statements
•
PSAK 60: Financial Instrument: Disclosure
including descriptions, requirements and nature
•
ISAK 15: The Limit on a Defined Benefit Asset,
of the agreements (the rights and obligations of
Minimum
the operator).
Interaction.
The changes in the Group’s accounting policies
•
Corporate Social Responsibility
16
110
Annual Report 2012
retrospectively
except
for
specific
services
agreements which are not practical for the Group to apply retrospectively, hence at the beginning of the earliest period presented: • The Group has recognized intangible assets at the
Constructing towards the Future
Requirement
•
and
Their
ISAK 20: Income Tax-Changes in the Tax Status of an Enterprise or its Shareholder
have been made as required, in accordance with the transitional provisions. The Group implements ISAK
Funding
ISAK 25: Land Rights
Corporate Governance ANNUAL REPORT 2012
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PT Jasa Marga (Persero) Tbk.
Basis and Implementation of Good Corporate Governance (GCG) in Jasa Marga
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
To realize a growing company with high competitiveness,
GCG principles, i.e. transparency, accountability,
Jasa Marga has developed structure and system of Good
responsibility, independence and fairness”.
Corporate Social Responsibility
Corporate Governance (GCG) in view of prevailing rules and
112
regulations as well as best practice implementation. The
The spirit held within GCG implementation at Jasa
carrying out of GCG is the follow up of the Decision of the
Marga is the intention and determination of Jasa
State Minister for SOEs No.117/M-MBU/2002 dated 31
Marga management to make the Company keep
July 2002 which was then renewed by the Regulation of
growing and developing while having good Work
the State Minister for SOEs No. PER-01/MBU/2011 dated
Process and Product of high quality, along with
01 August 2011 on Implementation of Good Corporate
good Business Ethics and Work Ethics, including
Governance at SOEs, stipulating that “SOEs are obligated
responsibility for the environment.
to carry out the companies’ operation by upholding
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Corporate Profile
Result of Assessment from Indonesian Institute Corporate Directorship (IICD) shows that Jasa Marga is included in the TOP 20 Listed Companies with the highest Corporate Governance score based on Corporate Governance Scorecard.
Information for Investors
Human Capital Management
B a s i s a n d I mpl emen t at i on of G ood Corp orate G overn an ce (G CG ) at Jasa M arga
1. Controlling and directing the relationship between the
Company’s
of
Commissioners
Organ and
8. Improving the Company’s image. To make the above happen, Jasa Marga has consistently
Board
enforced GCG implementation by referring to several
employees,
regulations based on which the Company has been
(Shareholders, Directors),
7. Improving the Company’s work culture.
customers, business partners, as well as the people
implementing GCG and they are as follows:
and environment so that it runs well and fulfill the
1. Law No. 19 of 2003 on SOEs (Articles 5, Paragraph
interests of all parties. 2. Encouraging and supporting the Company’s growth.
3). 2. Regulation of the State Minister for SOEs No.
3. Managing the resources with high integrity.
PER-01/MBU/2011 dated 01 August 2011 on
4. Improving risk management.
Implementation of Good Corporate Governance at
5. Improving accountability to stakeholders.
State-Owned Enterprises that has been amended
6. Preventing misconduct in managing the Company.
by Regulation of the State Minister for SOEs No.
Management Responsibility for Annual Report 2012
The objectives of Good Corporate Governance implementation at Jasa Marga are as follows:
PER-09/MBU/2012 dated 06 July 2012.
Constructing towards the Future
Annual Report 2012
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PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Ba sis a n d I mp lem en t a t i on of G ood Corpor a te G overn an ce (G CG ) at Jas a Marg a
3. Decision of Secretary of State Ministry for SOEs No. SK-
a. The Company’s Articles of Association, which has
16/S.MBU/2012 dated 06 June 2012 on Indicators/
been amended and published in the Supplement
Parameters of Assessment and Evaluation on Good
No. 27404 of the State Gazette of the Republic
Corporate Governance Implementation at State-Owned
of Indonesia dated 12 December 2008 No. 100,
Enterprises.
which was amended by Deed of Resolutions of
Corporate Governance
Management Discussion and Analysis
Management Reports
4. Bapepam-LK Regulation No. XI of 2004 on Information Disclosure.
General Meeting of Shareholders No. 33 dated 05 April 2011 made before Notary Ny. Poerbaningsih
5. Law No. 01 of 1995 on Limited Liability Company,
Adi Wasito, SH., Notary in Jakarta and approved
which was renewed by Law No. 40 of 2007 dated 16
by the Minister of Law and Human Rights of
August 2007.
the Republic of Indonesia through the Decision
6. Decision of the Directors No. 95/KPTS/2011 dated 01 June 2011 on Corporate Values.
No. AHU-20228.AH.01.02 of 2011 dated 21 April 2011, and was last amended by Deed of
7. Decision of the Directors No. 199.1/KPTS/2010 dated
Resolutions of Extraordinary General Meeting of
16 December 2010 on Code of Corporate Governance,
Shareholders No. 95 dated 21 June 2012 made
which is renewed by Decision of the Directors No. 96/
before Notary Ny. Poerbaningsih Adi Warsito, SH.,
KPTS/2011 dated 01 June 2011 on Code of Corporate
Notary in Jakarta and approved by the Minister of
Governance, which was renewed by Decision of the
Law and Human Rights of the Republic of Indonesia
Directors No. 96/KPTS/2011 dated 01 June 2011
and has obtained acknowledgement letter from
on Code of Corporate Governance at PT Jasa Marga
Directorate General Public Law Administration of
(Persero) Tbk.
the Ministry of Law and Human Rights No. AHU-
8. Decision of the Directors No. 200.1/KPTS/2010 dated
AH.01.10-25313 dated 10 July 2012.
16 December 2010, which was renewed by Decision of
b. Decision of the Directors No. 15/KPTS/2009
the Directors No. 96/KPTS/2011 dated 01 June 2011
dated 20 January 2009 on Standard Operating
on Code of Conduct at PT Jasa Marga (Persero) Tbk.
Procedures for the Procurement of Goods
9. Decision of the Directors No. 195/KPTS/2011 dated
and Services within the Company, which was
15 December 2011 on Whistleblowing System at PT
last amended by Decision of the Directors No.
Jasa Marga (Persero) Tbk.
59/KPTS/2012 dated 30 April 2012 on the
10. Decision of the Directors No. 186/KPTS/2011 dated
Amendment to Decision of the Directors of PT
30 December 2011 on Conflict of Interest at PT Jasa
Jasa Marga (Persero) Tbk. No. 15/KPTS/2009
Marga (Persero) Tbk.
on Standard Operating Procedures for the
11. Decision of the Directors No. 187/KPTS/2011 dated 30 December 2011 on Guidance on Gratification Handling at PT Jasa Marga (Persero) Tbk.
Procurement of Goods and Services within the Company. c. Circular Letter No. 06/SE-DIR/2012 dated 30 April 2012 on Procurement of Goods and Services
Corporate Social Responsibility
In 2012, the Company updated several internal regulations
114
within the Company.
that serve as the crystallization of GCG principles, prevailing
d. Joint Working Agreement of 2012-2014.
rules and regulations, cultural values, Vision and Mission
e. Revision to the Company’s Disciplinary Regulations
along with GGG best practices. The internal regulations, among others are as follow:
Annual Report 2012
Constructing towards the Future
adjusted to the Company’s Code of Conduct.
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
In addition to regulatory improvement, the Company also
Jasa Marga’s GCG Roadmap
continued the GCG socialization and internalization to the
The Company has decided the direction of GCG
entire Jasa Marga Individuals to ensure obedience to GCG
implementation in the form of GCG Roadmap
practices. The Company believes that implementation of
commenced in 2006. GCG Roadmap is directed towards
GCG by only complying with regulations is insufficient;
making GCG reference of every activity of the Company.
instead, it has to be proven in daily practices. The Company
The final target of GCG Roadmap is the realization of
is certain that by implementing GCG, it can maintain
the Company being one of good corporate citizens. With
stakeholders’ trust as the Company is determined to
the accomplishment of the final objective, the Company
become Good Corporate Citizen.
is optimistic that it can improve performance and
Human Capital Management
B a s i s a nd I mpl emen t at i on of G ood Corp orate G overn an ce (G CG ) at Jasa M arga
maintain sustainability.
Information for Investors
Diagram Roadmap of Jasa Marga’s GCG
GOOD GOVERNANCE COMPANY
GOOD CORPORATE GOVERNANCE
Complying with rules and regulations (mandatory and voluntary) of corporate governance
Becoming ethical and responsible citizen of the industry as well as the social community
Controlling business operation, especially business risk aspect, effectively
PROSES VALUE CREATION 2007
2009
2010
Directors’ Procedures on 1. Review of Integrity Pact Procurement Procedures of Goods/ on Procurement Services of Goods/ Services 2. Corporate Values
1. 2. 3.
2011 Updating COCG and COC GCG as Ethics Policies on Selecting Business Partners Upholding GCG Values
1. 2. 3.
2012 Guidance on Conflict of Interest Guidance on Gratification Handling Integrity Pact of All Jasa Marga Individuals
1. 2.
Constructing towards the Future
Review of Vision, Mission and Values Jasa Marga Whistleblowing System
Management Responsibility for Annual Report 2012
2006
Corporate Profile
MEASUREMENT
OBJECTIVES
GOOD CORPORATE CITIZEN
Annual Report 2012
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PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Ba sis a n d I mp l e m en t a t i on of G ood Corpor a te G overn an ce (G CG ) at Jas a Marg a
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
Corporate Governance
116
Strengthening GCG Implementation at Jasa Marga
2. Socialization and Training on GCG. The activities carried out were GCG socialization
In understanding the meaning of good corporate governance,
for new employees, inclusion of GCG material in
Jasa Marga’s basic principles encourage GCG as part of
Training on Toll Road Project Management, and GCG
managing the Company by implementing a system reflecting
socialization in various media of the Company.
the principles of information disclosure, accountability,
3. Managing Gratification and Whistleblowing System.
equality and responsibility. Jasa Marga has conducted various
The activities carried out were creating advertisement
initiatives of GCG implementation, both on its own and with the
in national newspapers to inform that the Company
assistance of independent party in order to reach sustainable
does not take and give gratification in relation to
governance.
religious holidays, creating and distributing circular
In 2012, the Company has completed the programs of
letter for all Jasa Marga Individuals to not take and
strengthening the implementation of GCG at Jasa Marga. The
give gratification, along with the reporting form for
said programs included:
inevitable gratification of both goods with short period
1. Strengthening Jasa Marga GCG Implementation.
of expiry as well as other kinds.
The activities carried out were the signing of Integrity Pact by all Jasa Marga Individuals and the signing of the Commitment of Clean Jasa Marga by President Director and Jasa Marga Labor Union.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Related to GCG.
6. Implementation of ISO and SMK3. In order to protect its employees, Jasa Marga
The Company participated in several events such as
implements OHSAS 18000, whereas to maintain
Corporate Governance Perception Index (CGPI) 2011
quality of services to customers, the Company
where it succeeded in being named “Trusted Company”,
implements ISO 9001:2008.
Anugerah BUMN (SOE Award) 2012 where it came as the
7. Performance Measurement.
2nd Runner Up for the category of Best SOEs GCG, and
To support corporate strategies and to improve its
The 4th Indonesian Institute Corporate Directorship (IICD)
performance, since 2008, the Company implemented
awarding the Company as Best Corporate Governance
Malcolm Baldrige before finally in 2012 shifting
Equitable Treatment for Shareholders.
to KPKU as it is mandatory of the State Ministry for
5. Measurement of GCG Implementation.
SOEs. KPKU is the tools used to measure companies’
GCG implementation is measured by conducting
performance based on Letter of State Ministry for
assessment. In 2011, the Company conducted GCG self-
SOEs No. S-153/S.MBU/2012 dated 19 July 2012
assessment, whereas in 2012, GCG assessment GCG is
on Performance Reporting Based on the Approach
conducted by independent consultant selected based on
of Criteria for Excellent Performance Assessment
the process of procurement of goods/services.
(Kriteria Penilaian Kinerja Unggul – KPKU) for SOEs.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
4. Active Participation in Various Competition/Awards
Corporate Profile
Information for Investors
Jasa Marga considers consistent implementation of Good Corporate Governance principles an absolute commitment. This is proven by powering up its infrastructure while continuously improving system and procedure to support the effectiveness of GCG implementation at the Company.
Human Capital Management
B a s i s a nd I mpl emen t at i on of G ood Corp orate G overn an ce (G CG ) at Jasa M arga
117
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Ba sis a n d I mp l e m en t a t i on of G ood Corpor a te G overn an ce (G CG ) at Jas a Marg a
Criteria for Excellent Performance Assessment (Kriteria
To build the culture of innovation, the Company
to measure the performance of SOEs and it is also used as
implements continuous improvement of quality with
guidelines to improve SOEs performance so that they are
Quality Improvement Group (Kelompok Perbaikan
able play greater role in realizing the country’s prosperity.
Mutu – KPM) and Practical Improvement (Perbaikan
The result of 2012 SOEs KPKU assessment showed that
Praktis – PP) so that intensive and integrated quality
the Company achieved total score of 537.25 representing
culture is created. The assessments carried out each
the level of Good Performance, with varied results in the
year in an event of Jasa Marga Quality Creation.
processes of certain areas, hence it requires emphasize on deployment, integration, continuity and learning. Joint Commitment of Clean Jasa Marga
Corporate Governance Corporate Social Responsibility
118
8. Culture of Innovation.
Penilaian Kinerja Unggul – KPKU) is comprehensive criteria
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
Corporate Governance
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Results of Assessment of GCG Implementation
of GCG implementation at the Company. For the last six (6) years, such evaluation has been carried out by either independent party or self-assessment, as described in the following table: Table GCG Assessment at Jasa Marga Gcg Assessment Score
2007
80.9
2008
81.62
2009
82.65
2010
87.22
2011
95.54
2012
94.59
Company Corporate Governance Scorecard (CCGS) Used Assessment parameters/indicators based on Letter of the Secretary of State Ministry for SOEs No. S-612/S.MBU/2005 dated 19 October 2005. Assessment parameters/indicators based on Letter of the Secretary of State Ministry for SOEs No. S-168/MBU/2008 dated 27 June 2008. Assessment parameters/indicators based on Letter of the Secretary of State Ministry for SOEs No. S-168/MBU/2008 dated 27 June 2008. Assessment parameters/indicators based on Letter of the Secretary of State Ministry for SOEs No. S-168/ MBU/2008 dated 27 June 2008. Assessment parameters/indicators based on Letter of the Secretary of State Ministry for SOEs No. S-168/MBU/2008 dated 27 June 2008. Assessment parameters/indicators based on the Decision of the Secretary of State Ministry for SOEs No. SK-16/S.MBU/2012 dated 06 June 2012.
Indicators/parameters used are Company Corporate Governance Scorecard (CCGS) issued by the State Ministry of
Information for Investors
Year
Human Capital Management
In order to obtain objective results, Jasa Marga uses the service of independent party to evaluate the effectiveness
SOEs. In its development, CCGS has been improved several times, i.e. in 2005, 2008 and 2011. In 2012, assessment was carried out by independent party, by using assessment parameters/indicators based on Parameters of Assessment and Evaluation on Good Corporate Governance Implementation at State-Owned Enterprises.
GCG Assessment in 2012 The results of GCG assessment by independent party for Jasa Marga’s GCG practices in 2012 showed “VERY GOOD” predicate with the score 94.59 for six (6) aspects measured, i.e. Commitment to Implementing Good Corporate
Corporate Profile
the Decision of the Secretary of State Ministry for SOEs No. SK-16/S.MBU/2012 dated 06 June 2012 on Indicators/
Governance Continuously, Shareholders and GMS, Board of Commissioners, Directors, Information Disclosure and Transparency, and Other Aspects. GCG assessment was conducted by PT Sinergi Daya Prima. Detailed results of the
Management Responsibility for Annual Report 2012
assessment are shown as follows:
Constructing towards the Future
Annual Report 2012
119
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Corporate Governance Performance Highlights 2012
Results of A s ses sm ent of G CG I mpl em ent a t i on
Table Results of GCG Assessment in 2012
Management Reports
No
Achieved Score
Maximum Score
1
Commitment to Implementing Good Corporate Governance Continuously
7
6.92
98.91
2
Shareholders and GMS
9
8.80
97.80
Achievement
3
Board of Commissioners
35
31.88
91.08
4
Directors
35
33.89
96.84
5
Information Disclosure and Transparency
9
8.63
95.96
6
Others Total
5
4.46
89.29
100
94.59
94.60
CLASSIFICATION OF GCG IMPLEMENTATION QUALITY Management Discussion and Analysis
Percentage of
Aspect of GCG Assessment
VERY GOOD
The total Score Achieved of 94.598 or equivalent to 94.60% is summarized as follows: 1. Commitment to Implementing Good Corporate Governance Continuously.
This aspect was scored 98.91% suggesting the Company has had commitment to implementing GCG in all aspects. The Company has had policies required to implement GCG such as Code of Corporate Governance, Board Manual, Code of Conduct and other technical policies. The Company has also conducted periodical assessment and review on GCG implementation.
2. Shareholders and GMS.
This aspect received the score of 97.80% suggesting that Shareholders and GMS of the Company have been carried out in compliance with GCG principles. GMS has performed its functions and tasks which among others include fit and proper test, decision of RJPP, decision of amount of remuneration for the Board of Commissioners and Directors, and approval of Annual Report. The process of decision making/voting at GMS is carried out transparently
Corporate Governance
and fairly. Shareholders and GMS do not interfere with the Company’s operational activities. 3. Board of Commissioners.
The score of 91.08% for this aspect suggests that in general, the process of GCG implementation within the Board of Commissioners has run well. The Board of Commissioners has decided the distribution of tasks among members of the Board of Commissioners to make effective of the supervision function. Decision making process within the Board of Commissioners is carried out through the mechanism of Board of Commissioners’ meetings held in accordance with prevailing rules and regulations. The Board of Commissioners has also given directions, suggestions and advices to the Directors in relation to the management of Company, without interfering with the Company’s operational activities. In carrying out its tasks and functions, the Board of Commissioners is assisted by
Corporate Social Responsibility
Audit Committee and Business Risk and Investment Committee.
120
4. Directors.
This aspect was scored 96.84% suggesting that the process of managing the Company carried out by the Directors is in compliance with GCG principles. The Directors have decided effective organizational structure to assist Directors in performing their functions and tasks. Additionally, to support smooth implementation of the structure formed, the Directors decided various operational policies and standard operating procedures (SOP). In performing their tasks and functions, the Directors refer to the determined RJPP and RKAP. The Directors conduct monitoring and
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
management of potential conflict of interest among members of the Directors. The Directors have rules of meetings and carry out decision making process at Directors’ meetings. The Directors periodically report relevant information to the Shareholders and the Board of Commissioners. 5. Information Disclosure and Transparency.
This aspect received the score of 95.96% suggesting that the Company has conducted information disclosure and transparency very well. The Company has system and procedure of information control. Information related to the Company is presented at the Company’s website and other media of
Human Capital Management
Res ul t s of As s es s men t of G CG Imp l ementatio n
information for publication. The Company has also created Annual Report in accordance with prevailing regulations and participated in Annual Report Award. 6. Others.
With the score of 89.29%, this aspect is considered good in general. The Company makes efforts to
The Methodology used applies four stages, i.e. Self-Assessment (Filling out Questionnaire), Document Completeness, Making of Paper and Presentation, and Observation. The theme of CGPI 2012 was “GCG in the Perspective of Risks”. In 2012, Jasa Marga succeeded in achieving the “Trusted” predicate for the fourth time. This indicates positive perception on GCG implementation at Jasa Marga. Out of maximum score of 100, Jasa Marga earned the total score of 83.65, an increase from the previous year’s achievement with the score of 83.41. The scoring details are as follows: Table Assessment of Corporate Governance Perception Index (CGPI) Assessment
Cgpi 2011
Cgpi 2012
Self-Assessment
21.44
12.16
Document Completeness Making of Paper and Presentation Observation Total
19.93 13.47 28.57 83.41
16.19 11.88 43.42 83.65
Constructing towards the Future
Annual Report 2012
Corporate Profile
Assessment of GCG implementation at Jasa Marga also uses parameters and measurements from Corporate Governance Perception Index (CGPI) conducted by Indonesia Institute for Corporate Governance (IICG) in which the results are given in the form of index.
Management Responsibility for Annual Report 2012
Corporate Governance Perception Index (CGPI)
Information for Investors
implement GCG in all aspects and minimize possible misconducts.
121
PT Jasa Marga (Persero) Tbk.
Structure and Mechanism of Corporate Governance Implementation
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
Governance Structure Based on Law No. 40 of 2007 Chapter I on General
Corporate Social Responsibility
Association.
Provisions Article 1, corporate organs consist of General
• Board of Commissioners is corporate organ that
Meeting of Shareholders, Board of Directors and Board
has the duty to perform supervision in general
of Commissioners.
and/or in particular in accordance with Articles of
• General
122
outside the court in accordance with Articles of
Meeting
of
Shareholders,
hereinafter
Association as well as to give advice to Directors.
referred to as GMS, is corporate organ that has the authority that is not granted to Directors or Board of
The said corporate organs play a key role in the
Commissioners within the limit regulated by Law and/
success of GCG implementation. Corporate organs
or Articles of Association.
perform their functions based on prevailing rules and
• Directors are corporate organ that has the authority
regulations, the Company’s Articles of Association, as
and full responsibility for the management of
well as other regulations with the principles that each
the Company for the interest of the Company in
organ has independence in carrying out the tasks,
accordance with the Company’s objectives and aims,
functions and responsibilities for the interests of the
as well as representing the Company both inside and
Company.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Corporate Profile
Information for Investors
Human Capital Management
St ruct ure an d Mechan i s m of Corp orate G overn an ce Imp l ementation
Diagram Governance Structure
and authorities in accordance with prevailing rules and regulations as well as the
GMS
Company’s Articles of Association.
Board of Commissioners
Internal Auditing Unit Corporate Secretary Risk & Quality Management Bureau
In carrying out the managing the Company, the Directors are assisted by Corporate Secretary and Internal Auditing Unit as well as other working units performing the Audit Committee Business Risk and Investment Committee
management functions of the Company. In carrying out the supervising duties, the Board of Commissioners may form committees whose members include with one or more members of the Board of Commissioners. The Committees report to the Board of Commissioners. The Committees that have been formed by the Board of Commissioners of the Company are as follows: • Audit Committee.
The duties of Audit Committee are to evaluate and identify matters requiring special
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Directors
GMS, Directors and Board of Commissioners respect each other’s tasks, responsibilities
123
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Structur e a n d M ech a n i s m of Corpor a te G over n an ce Imp l emen t at i on
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
Corporate Governance
attention and give independent professional opinion
Governance Mechanism
to the Board of Commissioners concerning Directors’
Governance Mechanism is the mechanism of GCG
financial report, internal and external auditor reports,
implementation reflected in a solid system. It becomes
report on compliance with rules and regulations, as
essential since GCG implementation relying only on the
well as implementation of risk management.
pillars of governance structure is insufficient, hence
Corporate Social Responsibility
requiring clear set of rules in the form of mechanism.
124
• Business Risk and Investment Committee.
Governance mechanism is translated into clear set of
Business Risk and Investment Committee reports to
rules, procedures and relationship between the party
the Board of Commissioners and it assists the Board
making decision and the party performing control on
of Commissioners in carrying out of the Board’s
the decision made.
duties so that the management of the Company is conducted effectively and efficiently by means of
The Company refers to governance mechanism as
competent and independent supervision system and
soft-structured GCG, representing a significant aspect
implementation.
in GCG implementation, as soft-structure GCG shall serve as living document to the entire levels in a company.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Governance Mechanism owned by the Company among
• Integrity Pact
others is as follows:
It is statement or vow on the commitment to
• Code of Corporate Governance (COCG)
performing all tasks and responsibilities in
COCG is a set of rules and practices serving as the
accordance with prevailing rules and regulations.
basis or reference for the corporate organs and the
Required to prevent corruption and fraudulent
Management in running the Company. COCG contains
practices, Integrity Pact has become the joint
the Company’s principles that are in line with its Vision,
commitment of the Board of Commissioners,
Mission and Corporate Values. In the implementation,
Directors and the entire Jasa Marga Individuals
COCG is followed by policies and technical regulations
in
in accordance with the Company’s requirements.
carrying
out
the
Company’s
professionally.
• Code of Conduct
• Guidance on Gratification Handling
values that are exclusively stated as standards of
in handling the giving and taking gifts in the
behavior that all Jasa Marga Individuals must obey.
It is the guidance used by Jasa Marga Individuals Company.
Code of Conduct is a set of voluntary commitment
• Guidance on Conflict of Interest
consisting of the Company’s business ethics and work
ethics of all Jasa Marga Individuals, that is arranged
It is the guidance for Jasa Marga Individuals to understand, prevent and overcome Conflict of
influence, form, regulate and encourage appropriate
Interest in the Company.
behavior, so as to achieve the desired outcome in
• Guidance on Whistleblowing System
accordance with the Company’s work ethics for the
accomplishment of the its Vision and Mission. • Charters of Committees under the Board of
It is the guidance for all Jasa Marga Individuals
Information for Investors
The Company’s Code of Conduct regulates the ethical
operation
Human Capital Management
S t ruct ure an d Mechan i s m of Corp orate G overn an ce Imp l ementation
in preventing and detecting potential violations in the Company.
Commissioners
The Charters’ role is as guidelines for Audit Committee and Business Risk and Investment Committee in Corporate Profile
carrying out their tasks as organs supporting the Board of Commissioners. The characteristics of these Charters are flexible and arranged as needed. • Internal Audit Charter The role of Internal Audit Charter is to improve the function of integrated control in the Company and to make sure that the Company’s operational activities are carried out properly in accordance with prevailing rules and regulations.
Management Responsibility for Annual Report 2012
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Annual Report 2012
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PT Jasa Marga (Persero) Tbk.
General Meeting of Shareholders
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
As the highest instance in the Company, General Meeting
GMS of the Company is:
of Shareholders (GMS) has the authorities that are not
• Annual
Meeting
of
Shareholders
granted to Board of Commissioners or Directors within
convened every fiscal year not later than the sixth
the limit regulated by law and or Articles of Association.
month after the fiscal year ends.
The authorities include requesting the accountability of
• Extraordinary General Meeting of Shareholders,
the Board of Commissioners and Directors in relation to
which is General Meeting of Shareholder convened
the management of the Company, amending the articles
whenever deemed necessary.
of association, appointing and dismissing Directors and Members of the Board of Commissioners, deciding the distribution of tasks and authorities among Directors, etc.
126
General
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Corporate Profile
Information for Investors
Human Capital Management
G en eral Meet i n g of S hareholder s
Management Responsibility for Annual Report 2012
An nu a l Gen era l M eet i n g of Sh a reh ol d er s ( G M S ) and Ex t ra ord i n a r y GM S of P T Ja sa M a rg a (Per se ro ) Tbk ., 09 M a y 2012.
In 2012, Jasa Marga convened one (1) Annual GMS and two (2) Extraordinary GMS. GMS of Jasa Marga GMS Annual
Date
Venue
09 May 2012
Jakarta
Extraordinary
30 January 2012
Jakarta
Extraordinary
09 May 2012
Jakarta
Constructing towards the Future
Annual Report 2012
127
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance General M eetin g of S h a r ehol der s
On 30 January 2012, Jasa Marga convened Extraordinary
3. Ir. Reynaldi Hermansjah as Finance
GMS at The Dharmawangsa Hotel, Jakarta. The convening
Director.
of the said Extraordinary GMS has passed the process of
4. Ir. Adityawarman as Operation Director.
preparation and implementation in accordance with Law
5. Ir. Firmansjah, CES. as Human Capital and
No. 40 of 2007 on Limited Liability Company Article 81,
General Affairs Director.
82 and 83; along with Decision of Chairman of Bapepam Management Reports
No. Kep-60/PM/1996 on Plan and Implementation of
Directors is effective from the closing of this
Extraordinary GMS are as follows:
Meeting by extending the highest gratitude for their contribution of capabilities and thoughts
Agenda of Extraordinary GMS
during their term of office as members of the Directors of the Company.
Change in the Management of the Company.
Resolutions of Extraordinary GMS
B. Approving the honorably dismissal of: 1. Ir. Adityawarman as President Director.
Corporate Governance
Management Discussion and Analysis
1. A. Approving the honorably dismissal of:
Corporate Social Responsibility
2. Ir. Abdul Hadi Hs., MM. as Business
1. Drs. Gembong Priyono, MSc. as Chairman.
Development Director.
2. Mayjen. (Purn.) Samsoedin as Independent
3. Ir. Reynaldi Hermansjah as Finance
Commissioner.
Director.
3. Prof. DR. Akhmad Syakhroza as Commissioner. as
4. Ir. Hasanudin, M.Eng.Sc. as Operation
The dismissal of the above members of the Board
5. Ir. Muh Najib Fauzan, MSc. as Human
4. Ir.
Sumaryanto
Widayatin,
MSCE.
Director.
Commissioner.
Capital and General Affairs Director.
of Commissioners is effective from the closing of this Meeting by extending the highest gratitude for their contribution of capabilities and thoughts
The appointment of the above members of
during their term of office as members of the
the Directors is effective from the closing of
Board of Commissioners of the Company.
this Meeting until the closing of the fifth (5th) Annual GMS after the closing of this Meeting,
B. Approving the appointment of:
without prejudice to the right of GMS to dismiss
1. Ir. Agoes Widjanarko, MIP. as Chairman.
them at any time prior to the end of their term
2. Mayjen. (Purn.) Samsoedin as Independent
of office.
Commissioner.
3. Prof. DR. Akhmad Syakhroza as Commissioner.
3. Granting power and authority to the Directors of
4. Ibnu Purna Muchtar, SE., MA. as Commissioner.
the Company with substitution rights to declare
The appointment of the above members of the
the resolutions of this Meeting agenda in a
Board of Commissioners is effective from the
separate notarial deed and conduct any actions
closing of this Meeting until the closing of the
needed in relation to resolutions of this agenda in
fifth (5th) Annual GMS after the closing of this
accordance with prevailing rules and regulations,
Meeting, without prejudice to the right of GMS to
including to register/announce the composition of
dismiss them at any time prior to the end of their
the Directors of the Company to those in authority.
term of office. Therefore, as of the closing of this Meeting, 2. A. Approving the honorably dismissal of: 1. Ir. Frans S. Sunito as President Director. 2. Ir. Abdul Hadi Hs., MM. as Business Development Director.
128
The dismissal of the above members of the
GMS. The agenda and resolutions of the abovementioned
Annual Report 2012
Constructing towards the Future
the composition of members of the Board of Commissioners and Directors is as follows:
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Board of Commissioners
Directors and Board of Commissioners for Financial
• Chairman: Ir. Agoes Widjanarko, MIP.
Year 2012.
• Commissioner: Ibnu Purna Muchtar, SE., MA.
6. Ratification of the Enactment of Regulation of State
• Commissioner: Prof. DR. Akhmad Syakhroza • Independent
Commissioner:
Mayjen.
Minister for SOEs. (Purn.)
Samsoedin
7. Decision of the Composition of Members of the Board of Commissioners.
• Independent Commissioner: Irjen. Polisi (Purn.) Drs. Michael Dendron Primanto, SH., MH.
8. Directors’ Report on: • Realization of the Use of 2007 IPO Proceeds
• Commissioner: DR. Joyo Winoto
and 2010 Jasa Marga Bonds.
Human Capital Management
G en eral Meet i n g of S hareholder s
• Implementation of IFRS in the Company’s Directors • Operation Director: Ir. Hasanudin, M.Eng.Sc.
Agenda of Extraordinary GMS:
• Business Development Director: Ir. Abdul Hadi Hs.,
Amendment to the Company’s Articles of Association.
MM. • Finance Director: Ir. Reynaldi Hermansjah
The convening of the said Annual and Extraordinary
• Human Capital and General Affairs Director: Ir. Muh
GMS has passed the processes of preparation and
Najib Fauzan, MSc.
implementation in accordance with Law No. 40 of 2007 on Limited Liability Company Articles 81, 82 and 83,
On 09 May 2012, Jasa Marga convened Annual General
along with Decision of Chairman of Bapepam No. Kep-
Meeting of Shareholders and Extraordinary General
60/PM/1996 on Plan and Implementation of GMS.
Information for Investors
Financial Statements Financial Year 2012.
• President Director: Ir. Adityawarman
Meeting of Shareholders (Annual & Extraordinary GMS) at The Dharmawangsa Hotel, Jakarta with the Agenda of
The processes of preparation and implementation of
each GMS as follows:
the Annual and Extraordinary GMS has been stated in as the Announcement and Invitation each advertised in
1. Approval of the Company’s Annual Report Financial
two (2) newspapers with nationwide coverage.
Year 2011 on the Company’s Activities and the Implementation of the Supervisory Duty of the Board
Resolutions of Annual GMS
of Commissioners and Ratification of the Company’s
1. FIRST AGENDA
Financial Statements for the Year Ended 31 December
Approving the Annual Report 2011 including
2011.
Annual Report of the Directors and Supervisory Community
Report of the Board of Commissioners and to
Development Programs Report for Financial Year
of
Partnership
and
ratifying the Company’s Consolidated Financial
2011.
Statements for Financial Year 2011 that have
3. Decision of the Use of Net Profit for Financial Year 2011.
been audited by Public Accountant Office HLB Hadori Sugiarto Adi & Rekan, with the opinion of
4. Appointment of Public Accountant to Audit the
fairly in all material respect as stated in its report
Company’s Consolidated Financial Statements for
No. 014/LA-JM/III/12 dated 22 March 2012 on
Financial Year 2012 and Financial Statements of
the Company’s Consolidated Financial Statements
Partnership and Community Development Programs
Financial Year 2011, and granting full release and
Report for Financial Year 2012.
discharge of responsibilities to the Directors and
5. Decision of Tantieme for Financial Year 2011, Salary
Board of Commissioners of the Company for the
or Honorarium and Allowances for Members of
management and supervision actions they have
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
2. Ratification
Corporate Profile
the Company’s letter submitted to Bapepam-LK as well
Agenda of Annual GMS:
129
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance General Meetin g of S ha r eh ol der s
carried out in Financial Year ended 31 December
5. The remaining 56.1% or Rp 751,887,941,725
criminal offenses and are reflected in the Company’s
will add to the retained earnings and increase
reports.
the Company’s equity.
2. SECOND AGENDA Management Reports
Company’s Articles of Association.
2011 to the extent that such actions do not constitute
4. FOURTH AGENDA
Ratifying the Annual Report of PKBL (Partnership and
Approving 1.
Management Discussion and Analysis Corporate Governance
of
Public
2011 including PKBL Financial Statements that have
& Saptoto to audit the Company’s Consolidated
been audited by Public Accountant Office HLB Hadori
Financial Statements for financial year 2012
Sugiarto Adi & Rekan as stated in its report No. 014A/
and to audit the Financial Statements of
LA-PKBL-JM/III/12 dated 22 March 2012, with the
Partnership and Community Development
opinion of fairly in all material respect, and granting
Programs for financial year 2012. Granting 2.
authority
to
the
Board
of
Directors and Board of Commissioners of the Company
Commissioners to decide the amount of audit
for the management and supervision actions of PKBL
fee by considering the fairness and scope of
for Financial Year 2011 to the extent that such actions
audit work, along with appointing a substitute
do not constitute criminal offenses and are reflected in
public accountant if the appointed public
the said report.
accountant above are incapable of carrying out its duties in relation to the laws on Indonesian
3. THIRD AGENDA
capital market.
The use of the Company’s Net Profit for Financial Year 2011 is as follows:
5. FIFTH AGENDA
1. Cash dividend for Financial Year 2011 amounting
Granting authority and power to the Board of
to 40% of Net Profit financial year 2011 or Rp
Commissioners upon the approval of Shareholder
535,784,787,396. The Directors are then granted
of Series A Dwiwarna to decide the Tantieme for
power and authority to arrange the procedures of
Financial Year 2011, Salary and Honorarium as
payment of the said cash dividend in accordance
well as Other Allowances for the Directors and
with the prevailing rules and regulations.
Board of Commissioners for the year 2012.
2. Partnership Program amounting to 1% of Net Profit financial year 2011 or Rp 13,394,619,685.
6. SIXTH AGENDA
3. Community Development Program amounting
Approving the ratification of the enactment
to 1% of Net Profit financial year 2011 or Rp
of Regulation of State Minister for SOEs No.
13,394,619,685.
PER-01/MBU/2011 dated 01 August 2011 on
4. Reserve
Fund
amounting
to
1.9%
or
Rp
25,000,000,000 to comply with Article 70 of Law on Limited Liability Company No. 40 of 2007 and Corporate Social Responsibility
appointment
Accountant Office Aryanto, Amir Jusuf, Mawar
full release and discharge of responsibilities to the
130
the
Community Development Programs) Financial Year
it is used in accordance with Article 22 of the
Implementation of Good Corporate Governance at State-Owned Enterprises. 7. SEVENTH AGENDA 1. Approving the honorably dismissal of: • DR. Joyo Winoto as Commissioner.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance G en eral Meet i n g of S hareholder s
• Irjen. Polisi (Purn.) Drs. Michael Dendron
the resolutions of this Meeting agenda in
Independent
a separate notarial deed and conduct any
Commissioner.
actions needed in relation to resolutions of this
Effective from the closing of the Meeting
agenda in accordance with prevailing rules and
by extending the highest gratitude for their
regulations, including to register/announce the
dedication during their term of office as
composition of the Board of Commissioners of
members of the Board of Commissioners
the Company to those in authority.
of the Company and approving the reappointment of:
8. EIGHTH AGENDA
• DR. Joyo Winoto as Commissioner.
• Irjen. Polisi (Purn.) Drs. Michael Dendron Primanto,
SH.,
MH.
as
Independent
The Directors have reported the Realization of 2007 Use of Proceeds and 2010 Jasa Marga Bonds, as well as the Implementation of IFRS in the Company’s
Commissioner.
Consolidated Financial Statements Financial Year
The above appointment is effective from the
2012.
closing of this Meeting until the closing of the fifth (5th) Annual GMS after the closing of
Resolutions of Extraordinary GMS
this Meeting, without prejudice to the right of
1. Approving the change in the Company’s Articles of
General Meeting of Shareholders to dismiss
Association Article 12 Paragraph 6 Letter j; Article
them at any time prior to the end of their term
12 Paragraph 7; Article 12 Paragraph 13; Article 16
of office.
Paragraph 1 Letter b; Article 18 Paragraph 2 and Paragraph 3; and Article 20 Paragraph 2 Letter a,
Therefore, as of the closing of this Meeting, the composition of members of the Board of Commissioners is as follows:
as proposed by the Directors and presented during the Meeting. 2. Granting power and authority to the Company’s
• Chairman: Ir. Agoes Widjanarko, MIP.
Directors to declare in a separate notarial deed and
• Commissioner: Drs. Ibnu Purna Muchtar, SE.,
granting authority to the Directors with substitution
MA.
rights to apply for approval of the above amendment
• Commissioner: Prof. DR. Akhmad Syakhroza.
to the Articles of Association to those in authority
• Independent Commissioner: Mayjen. (Purn.)
and conduct any actions needed in relation to the
Samsoedin.
implementation of the above amendment to the
• Commissioner: DR. Joyo Winoto. • Independent
Commissioner:
Human Capital Management
as
Information for Investors
MH.
Corporate Profile
SH.,
Articles of Association. Irjen.
Polisi
(Purn.) Drs. Michael Dendron Primanto, SH.,
The entire resolutions of Annual and Extraordinary GMS
MH.
have been carried out by the Company.
2. Granting power and authority to the Company’s Directors with substitution rights to declare
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Primanto,
131
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Board of Commissioners
The Board of Commissioners is the corporate organ that is collectively in charge of conducting supervision and giving advice to the Directors, as well as making sure that Jasa Marga implements GCG at the entire levels of the organization. In order to support the implementation of its duties, the Board of Commissioners is assisted by Audit Committee, Business Risk and Investment Committee, along with and Remuneration and Nomination Committee.
Duties and Responsibilities of Board of Commissioners Management Reports
The Board of Commissioners is the Company’s organ that is collectively in charge of conducting supervision, in general and/or in particular, in accordance with the Articles of Association, and giving advice to the Directors. The Board of Commissioners is not involved in making decision regarding operational matters. Each member of the Board of Commissioners, including the Chairman is of equal position. The duty of the Chairman as primus inter pares (first among equals) is to coordinate the activities of the Board of Commissioners. Members of the Board of Commissioners are appointed and dismissed by the GMS. In carrying out its duties, the Board of Commissioners is accountable to GMS. The Board of Commissioners’ accountability to GMS is the realization of the accountability of the supervision for the
The Duties of members of the Board of Commissioners are divided into six (6) fields, namely: Policy and Development Strategies of the Company, Organization and Human Resources Development, Investment and Business Risk, Finance, and Road Engineering and Road Traffic Services. Name:
Agoes Widjanarko
Job Title:
Chairman
Field of Duty:
Policy and Development Strategies of the Company Give feedbacks, directions and recommendations; coordinate and integrate inputs from five other fields, in order to prepare and arrange the Company’s Vision and Mission, arrange policy and strategy for corporate mid-term plan and or long-term plan, including to prepare and prepare corporate annual work and budget plan as well as to supervise the implementation of resolution of General Meeting of Shareholders.
Description of Duties:
Give directions and recommendations concerning the decision, evaluation and revision of the Vision and Mission of the Company, corporate mid-term and or long-term plan, along with corporate work and budget plan. Lead and guarantee the accomplishment of effectiveness in decision making at Board of Commissioners meetings, Board of Commissioners – Directors joint meetings, and General Meeting of Shareholders as well as implementation of Good Corporate Governance principles within the Board of Commissioners.
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Company’s management in the framework of GCG principles implementation.
132
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Name:
Akhmad Syakhroza
Job Title:
Commissioner
Field of Duty:
Organization and Human Resources Development Give feedbacks, directions and recommendations in order to prepare the decision and adjustment of organizational structure of the Company entirely at the level of Head Office, Branches, and Subsidiaries, along with to prepare the system and procedures of operation. Give directions and recommendations on the policy to fulfill the need for the provision of professional, productive and competent human resources along with their further development.
Give feedbacks and recommendations in order to improve efficiency, effectiveness and empowerment of competitive human resources as well as business processes that are customer/toll road user-oriented. Name:
Ibnu Purna
Job Title:
Commissioner
Field of Duty:
Investment and Business Risk Give feedbacks, directions, recommendations in order to decide the policies and strategies in the investment of new toll road development; acquire concessions of new toll roads through tender or toll road acquisition and divestment or spin off in Subsidiaries, as well as to develop non-toll road businesses. Give feedbacks, suggestions and recommendations in order to improve efficiency and effectiveness of road engineering plan, construction cost for increasing road capacity and new toll road development.
Name:
Joyo Winoto
Job Title:
Commissioner
Field of Duty:
Finance Give feedbacks, directions and recommendation in order to decide policies and strategies in the managing, engineering and strengthening the Company’s financial structure and to achieve the cheapest fund required for investment in new toll road development, capacity increase, repair and maintenance of existing toll roads.
Description of Duties:
Give feedbacks, responses, suggestions and recommendation in order to arrange the Company’s plan and financial structure that support un-organic growth, and discuss the Company’s annual and quarterly financial reports. Give feedbacks and recommendations in order to develop and improve efficiency and effectiveness of financial administration management, control loans and make use of information technology in preparing financial reports and financial transactions.
Constructing towards the Future
Annual Report 2012
Corporate Profile
Description of Duties:
Information for Investors
Together with other members of the Board of Commissioners, give inputs and recommendations on the proposal of candidates for Directors of the Company and candidates for Board of Commissioners and Directors of Subsidiaries to the State Minister for SOEs as Dwiwarna Shareholder, as well as the recommendation on the appointment of main structural managers (strategic) one level below Directors.
Management Responsibility for Annual Report 2012
Description of Duties:
Human Capital Management
B oard of Commissioner s
133
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Boa rd o f C ommissioner s
Name:
Mayjen. (Purn.) Samsoedin
Job Title:
Independent Commissioner
Field of Duty:
Road Engineering Give feedbacks, directions and recommendation in order to manage, maintain and secure toll road sections to comply with the minimum level of service (SPM – Standar Pelayanan Minimal) decided by the Minister of Public Works and or achieve high level of toll road reliability.
Management Discussion and Analysis
Management Reports
Description of Duties:
Give feedbacks and recommendation in order to improve efficiency and effectiveness in the maintenance of toll roads along with the facilities/traffic signs, including developing the system of Performance-Based Maintenance Contract, implementing risk management as well as modernizing toll road operation.
Name:
Irjen. Polisi (Purn.) Michael Dendron Primanto
Job Title:
Independent Commissioner
Field of Duty:
Road Traffic Services
Description of Duties:
Give feedbacks, directions and recommendations in order to provide smooth transaction services that comply with SPM, control and secure toll revenue, manage and provide traffic services that comply with the standard of security, travel speed as well as improve response time of handling disturbances. Giving feedbacks and recommendations in order to improve efficiency and effectiveness in the use of resources to provide transaction and traffic services on toll roads.
Composition of the Board of Commissioners As of 31 December 2012, Jasa Marga Board of Commissioners consists of six (6) people with the following composition: Table Composition of Jasa Marga Board of Commissioners Job Title
134
Legal Basis of Appointment
Shareholder’s Representation
Agoes Widjanarko
Chairman
Resolution of EGMS on 30 January 2012
The State of The Republic of Indonesia
Mayjen. (Purn.) Samsoedin
Independent Commissioners
Resolution of EGMS on 09 May 2012
Independent
Irjen. Polisi (Purn.) Michael Dendron Primanto
Independent Commissioners
Resolution of EGMS on 09 May 2012
Independent
Ibnu Purna
Commissioners
Resolution of EGMS on 30 January 2012
The State of The Republic of Indonesia
Akhmad Syakhroza
Commissioners
Resolution of EGMS on 30 January 2012
The State of The Republic of Indonesia
Joyo Winoto
Commissioners
Resolution of EGMS on 09 May 2012
The State of The Republic of Indonesia
Corporate Social Responsibility
Corporate Governance
Name
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance B oard of Comm issioner s
Independence of Board of Commissioners In addition, the Company has Independent Commissioners that are Board of Commissioners’ members not having financial, managerial, share ownership and/or family relationship with other members of the Board of Commissioners and/or the Shareholders or other relationships with Jasa Marga, those that may influence the capability of acting independently. The number of Jasa Marga’s Independent Commissioners has complied with what is regulated by Decision of the Directors of Indonesia Stock Exchange No. Kep-305/BEJ/07-2004 on Regulation No. I-A on the Listing of Shares and Equities Securities other than Shares Issued by Listed Companies, stating that each public company is required to have the number of Independent Commissioners at least 30% of the total number of Board of Commissioners members. Jasa Marga has two
Human Capital Management
All members of Jasa Marga Board of Commissioners act independently and free from intervention of any parties.
Independent Commissioners, which represents 33% of the total number of members of the Board of Commissioners.
Family Relationship and Relationship of Management at Other Companies Family relationship between members of the Board of Commissioners and fellow members of the Board of Commissioners
Table Jasa Marga Board of Commissioners’ Family Relationship and Board Membership at Other Companies
Name
Family Relationship with Corporate Organ of
Relationship of Management at Other
Jasa Marga
Companies
Board of Commissioners
Directors
Shareholders
Yes
Yes
Yes
No
No
No
As Board of Commissioners Yes
No
As Directors Yes
No
As Shareholders Yes
No
Agoes Widjanarko
√
√
√
√
√
√
Mayjen. (Purn.) Samsoedin
√
√
√
√
√
√
Irjen. Polisi (Purn.) Michael Dendron Primanto
√
√
√
√
√
√
Ibnu Purna
√
√
√
√
√
√
Akhmad Syakhroza
√
√
√
√
√
√
Joyo Winoto
√
√
√
√
√
√
Corporate Profile
is as follows:
Information for Investors
and/or members of the Directors as well as the Shareholders, and relationship of management at other companies in 2012
Among members of the Board of Commissioners and between each member of the Board of Commissioners and each
Dual Positions and Conflict of Interest Based on the provisions of the Company’s Articles of Association, members of the Board of Commissioners are prohibited to hold dual positions as: 1. Member of Directors at SOEs, local government-owned enterprises, and private owned enterprises. 2. Other positions according to prevailing rules and regulations. 3. Member of management of political party and/or candidate/member of legislative. 4. Other positions that may cause conflict of interest. In 2012, none of the members of the Board of Commissioners holds dual positions as those stated in the Company’s Articles of Association. To minimize the occurrence of conflict of interest, each Member of the Board of Commissioners is obligated to make a
Management Responsibility for Annual Report 2012
member of the Directors is not related by blood within the third degree, both vertically and horizontally, or by marriage.
Special List, containing information on share ownership of Member of the Board of Commissioners and/or his family at the Company as well as other companies. The Special List is kept and administered by Secretary of the Board of Commissioners. Constructing towards the Future
Annual Report 2012
135
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Boa rd of C om m is sion er s
Board of Commissioners’ Work Guidelines and Rules (Board Charter) In carrying out the duties of supervision and giving advice to the Directors, the Board of Commissioners refers to the guidance for Board of Commissioners and Directors (Board Charter). Board Charter consists of guidelines of work procedures for the Board of Commissioners and Directors and explanation on stages of activities in manners that are well-structured, systematic, easily understood, able to be implemented consistently, and able to serve as reference for Board of Commissioners and Directors in carrying out each of their duties to reach the Company’s Vision and Mission. Work Guidelines and Rules of the Board of Commissioners and Directors in Jasa Marga Board Charter are specifically
Management Reports
regulated in Chapter II which encompasses Duties, Obligations, Authorities, Rights, Requirements, Membership, Introductory Program, Job Ethics, Meetings, Performance Evaluation, Committees, and Secretary to the Board of Commissioners.
Board of Commissioners’ Meetings Throughout the year 2012, the Board of Commissioners periodically conducted meetings both internal meetings of the Board of Commissioners and Joint Meetings of the Board of Commissioners and the Directors. The Board of Commissioners has had Rules of Board of Commissioners’ Meetings based on Letter No. KEP-73/DKJM/VIII/2005 dated
Corporate Governance
Management Discussion and Analysis
19 August 2005 on Guidelines for the Board of Commissioners, point (3) concerning Rules and Attendance. Decisions of the Board of Commissioners are made based on the principle of deliberation for consensus. In the event that decision based on deliberation for consensus is not reached, decision is then made by voting. Board of Commissioners’ Meetings consists of internal meetings and meetings by inviting the Directors to discuss various aspects of operational and financial management of Jasa Marga. In 2012, the Board of Commissioners held 26 internal meetings.
Table Recapitulation of Attendance of the Board of Commissioners in Internal Meetings in 2012 Name
Job Title
Number of Meetings Attended
Percentage (%)
Agoes Widjanarko
Chairman
15
58
Ibnu Purna
Commissioner
15
58
Akhmad Syakhroza
Commissioner
10
39
Joyo Winoto
Commissioner
1
4
20
77
26
100.00
Mayjen. (Purn.) Samsoedin Irjen. Polisi (Purn.) Michael Dendron Primanto
Independent Commissioner Independent Commissioner
Agenda of Internal Meetings of the Board of Commissioners among others were as follows: 1. Discussion and Evaluation of Management Report. 2. Discussion of RJPP 2010-2014 review. 3. Discussion and Evaluation of Managers for the Filling out of the Positions One Level below Directors.
Corporate Social Responsibility
4. Discussion of Work Report and Evaluation of Audit Committee. 5. Discussion of Work Report and Evaluation of Business Risk and Investment Committee. 6. Discussion of Change in 2012 KPI for Board of Commissioners. 7. Discussion of Projects Problem Solving. 8. Evaluation of Progress of New Projects and Site Visit. 9. Finalization of Vision, Mission, Corporate Values and Strategy Direction for RJPP 2013-2017. Besides the internal meetings, the Board of Commissioners also holds Joint Meetings of Board of Commissioners and Directors. The recapitulation of Board of Commissioners and Directors Joint Meetings is available in Relationship between Board of Commissioners and Directors.
136
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance B oard of Commissioner s Besides the internal meetings, the Board of Commissioners also holds Joint Meetings of Board of Commissioners and Directors. The recapitulation of Board of Commissioners and Directors Joint Meetings is available in Relationship between Board of Commissioners and Directors.
in the Minutes of Meeting of the Board of Commissioners. The Minutes of Meeting is signed by meeting chairman and all meeting participants and is then distributed to all members of the Board of Commissioners who are both present and absent at the meeting. Dissenting opinion along with its reasons during the meeting will be stated in the minutes of meeting. To support the carrying out of its duties, the Board of Commissioners is assisted by the supporting organs consisting of Secretary of the Board of Commissioners, Audit Committee, Business Risk and Investment Committee. The discussion on Secretary of the Board of Commissioners, Audit Committee, Business Risk and Investment Committee is provided
Human Capital Management
The decisions made during Jasa Marga Board of Commissioners’ Meetings have been well recorded and documented
separately.
Referring to Article 96 Paragraph (1) of Law of Limited Liability Company No. 40 of 2007, the amount of salary and allowance of Directors is decided based on resolutions of GMS. This authority, based on Article 96 Paragraph (2) may be delegated to the Board of Commissioners. Meanwhile, Article 113 of Law on Limited Liabilities Company No. 40 of 2007 regulates that the amount of salary and allowances of the Board of Commissioners are decided by GMS. The form of allowances, facilities, and other components
Information for Investors
Procedures, Basis of Decision and Amount of Remuneration of Members of Board of Commissioners
included in the component of income (other than salary) refers to the Regulation of the State Minister for SOEs No. Per07/MBU/2010 dated 27 December 2010.
BOARD OF
GMS
COMMISSIONERS
Article 96 of Law on Limited Liability Company No. 40 of 2007 Provisions of amount of salary and allowances of members of Directors decided based on resolution of GMS. The authority of such GMS referred to in Paragraph (1) may be delegated to the Board of Commissioners. In the event that GMS authority is delegated to Board of Commissioners referred to in Paragraph (2), the amount of salary and allowances Commissioners referred to in (1) is decided based on decision of Board of Commissioners’ meeting
Structure of Board of Commissioners Remuneration Table Remuneration of Members of the Board of Commissioners in 2012 Allowances Board of Commissioners
Salary
Monthly Transportation
Agoes Widjanarko - Chairman
32,000,000
6,400,000
Yearly
Communication 1,600,000
Religious 32,000,000
Total/Month
Total/Year
Tantieme -
40,000,000
512,000,000
Ibnu Purna - Commissioner
28,800,000
6,000,000
1,440,000
28,800,000
-
36,240,000
463,680,000
Akhmad Syakhroza - Commissioner
28,800,000
6,000,000
1,440,000
28,800,000
737,470,588
36,240,000
1,201,150,588
Joyo Winoto - Commissioner
28,800,000
6,000,000
1,440,000
28,800,000
737,470,588
36,240,000
1,201,150,588
28,800,000
6,000,000
1,440,000
28,800,000
737,470,588
36,240,000
1,201,150,588
28,800,000
6,000,000
1,440,000
28,800,000
737,470,588
36,240,000
1,201,150,588
Mayjen. (Purn.) Samsoedin Independent Commissioner Irjen. Polisi (Purn.) Michael Dendron Primanto - Independent
Management Responsibility for Annual Report 2012
• • •
Corporate Profile
Diagram Procedures for Deciding the Remuneration of Members of the Board of Commissioners
Commissioner
Constructing towards the Future
Annual Report 2012
137
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Boa rd of C om m is sioner s
Remuneration of the Company’s Board of Commissioners has currently complied with the abovementioned regulation; hence the Board of Commissioners Remuneration consists of: 1. Salary/Honorarium. 2. Allowances. 3. Facilities. 4. Tantieme/Performance Incentive. 5. Post-Employment Insurance
Management Reports
The salary proportion is as follows: •
Chairman: 40% of President Director’s salary.
•
Commissioner Members: 36% of President Director’s salary.
Fixed remuneration such as salary/honorarium, allowances and facilities is decided while considering the factors of the Company’s revenues, assets, financial condition and capability, along with inflation rate and other relevant factors not contradicting with prevailing rules and regulations. Meanwhile, allowances and tantieme that are on variable basis are decided while considering the factors of target achievements, financial condition and health along with other relevant
Management Discussion and Analysis
factors (merit system). Remuneration of the Board of Commissioners is decided by GMS and is valid for one year.
Board of Commissioners Training/Competency Development Programs Training and competency development programs for the Board of Commissioners in the year 2012 are shown in the following table: Table Competency Development Participated by Members of the Board of Commissioners in 2012 Board of Commissioners
Subject
Date & Venue
Center for Finance Seminar on COSO Framework in
Corporate Governance
Agoes Widjanarko
1.
Improving Board of Commissioners Supervision of Internal Control in BUMNBUMD and Subsidiaries of BUMN-BUMD.
28 January 2012; Novotel Hotel, Semarang.
Studies (Pusat Studi Investasi dan Keuangan – PSIK)
2.
Panel Discussion: Implication of Letter
14 February 2012;
of State Minister for SOEs No. 375:
Financial Club, Graha Committee Institute
Indonesia Audit
Challenges and Opportunities for Board of CIMB Niaga 28th
(Ikatan Komite Audit
Commissioners and Audit Committee.
Indonesia – IKAI).
Floor, Jakarta. 10 October 2012;
Invitation to SOEs Coordination Meeting.
The Sahid Rich Hotel, Yogyakarta.
Corporate Social Responsibility
and Investment
Group.
3.
State Ministry for SOEs. Center for Finance
Seminar on COSO Framework in
Irjen. Polisi (Purn.) Michael Dendron
1.
Primanto
Improving Board of Commissioners Supervision of Internal Control in BUMNBUMD and Subsidiaries of BUMN-BUMD.
18 February 2012; Melia Purosani Hotel, Yogyakarta
and Investment Studies (Pusat Studi Investasi dan Keuangan – PSIK) Group.
2.
138
Organized by
Annual Report 2012
Socialization of Requirements and
09 March 2012;
Procedures for Appointment and
Grand Royal
Media Pekerja BUMN
Dismissal of Members of Directors of
Panghegar Hotel,
Tabloid.
SOEs.
Bandung.
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance B oard of Commissioner s
Board of Commissioners
Subject
Date & Venue
Organized by
3.
Minister for SOEs No. 01/MBU/2011
Aryaduta Hotel;
State Ministry for
on Good Corporate Governance
Jakarta.
SOEs.
Implementation at SOEs. SOEs Executive Breakfast Meeting with 1.
the Theme: “Increasing Added Value
18 April 12; Aneka Tambang Building,
to Support the Performance of SOEs
Jakarta
towards World Class Companies”.
BUMN Executive Club. BUMN Track
2.
Invitation to Focus Group Discussion.
17 July 2012; Wisma
Magazine in
Antara, Jakarta.
cooperation with
Human Capital Management
Socialization of Regulation of State
LKBN Antara.
3.
ECIIA Conference 2012 Amsterdam & OnSite Learning Paris.
10-20 September
Internals Indonesia
2012; Amsterdam
(Perhimpunan
and Paris.
Auditor Internal Indonesia – PAII). Institute of Auditor
Invitation to Round Table Discussion Ibnu Purna
1.
with the Topic “Role of Whistleblower in Internal Control Function”.
14 March 2012; Balai Kartini, Jakarta
Internals Indonesia (Perhimpunan
Information for Investors
Institute of Auditor
Auditor Internal Indonesia – PAII).
Invitation to SOEs Coordination Meeting.
The Sahid Rich Hotel, Yogyakarta
State Ministry for SOEs.
In addition, in order to make effective of the supervisory function, throughout 2012 the Board of Commissioners visited the Branches, Projects and Subsidiaries to find out the constraints in Jasa Marga’s business process and operation. In 2012, the Board of Commissioners conducted 15 work visits to the Branches and Subsidiaries of the Company. The
Corporate Profile
10 October 2012; 2.
visits included presentation from Branches/Subsidiaries concerning performance followed by site visit.
Table Board of Commissioners Visits in 2012 No. 1.
Activity Visits to Branches/Subsidiaries
Remarks - 8 Branches - 2 Projects - 7 Subsidiaries
2.
Agenda
- Presentation on work program - Site Visit - Feedbacks and suggestions from Board of Commissioners
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
The results of the visit then became the data/material of the meetings of the Board of Commissioners with Directors.
139
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Boa rd o f C ommissioner s No. 3.
Activity Names of Board of Commissioners conducting visits
Remarks Agoes Widjanarko: 1 x Ibnu Purna: 3 x Mayjen. (Purn.) Samsoedin: 7 x Irjen. Polisi (Purn.) Michael Dendron Primanto: 11 x Akhmad Syakhroza: 0 Joyo Winoto: 0
Management Reports
Decisions of the Board of Commissioners in 2012 As part of the implementation of its duties and responsibilities, the Board of Commissioners of Jasa Marga continues to encourage the execution of supervisory decision and more effective advisory. In 2012, the Board of Commissioners has issued various supervisory decisions, consisting of among others as follows:
Table Decisions of the Board of Commissioners in 2012 No.
Management Discussion and Analysis
1. 2. 3. 4. 5. 6.
Corporate Governance
7. 8. 9. 10. 11.
Corporate Social Responsibility
12. 13. 14. 15. 16. 17.
140
Number & Date of
Subject
Decision Letter KEP-0007/I/2012 16 January 2012 KEP-0008/I/2012 16 January 2012
Re-appointment of Audit Committee of PT Jasa Marga (Persero) Tbk. Re-appointment of Business Risk and Investment Committee of PT Jasa Marga (Persero) Tbk.
KEP-0010/I/2012
Agreement to Appoint Chairman to Chair EGMS of PT Jasa Marga (Persero) Tbk. on 30 January
16 January 2012
2012.
KEP-00011/I/2012
Decision of Performance Self-Assessment System of the Board of Commissioners of PT Jasa
16 January 2012
Marga (Persero) Tbk.
KEP-00014/I/2012
Decision of Allowance for Note Taker of Board of Commissioners Meetings of PT Jasa Marga
16 January 2012
(Persero) Tbk.
KEP-00020/II/2012
Filling out of Personnel in the Organization Structure of Secretariat of the Board of
10 February 2012
Commissioners of PT Jasa Marga (Persero) Tbk.
KEP-0030/II/2012
Change in the Personnel of Business Risk and Investment Committee of PT Jasa Marga
20 February 2012
(Persero) Tbk.
KEP-0031/II/2012
Revision to the Distribution of Duties of Members of the Board of Commissioners of PT Jasa
20 February 2012
Marga (Persero) Tbk.
KEP-0033/II/2012
Adjustment of Amount of Honorarium of Meetings Held by Board of Commissioners of PT Jasa
28 February 2012
Marga (Persero) Tbk.
KEP-0034/III/2012
Filling out of Personnel in the Secretariat of the Board of Commissioners of PT Jasa Marga
01 March 2012
(Persero) Tbk.
KEP-0051/III/2012
Decision of Amount of Honorarium of Meetings Held by the Committees of the Board of
19 March 2012
Commissioners of PT Jasa Marga (Persero) Tbk.
KEP-0052/III/2012
Honorarium of Meetings for Staff Members of the Secretariat of the Board of Commissioners
19 March 2012
PT Jasa Marga (Persero) Tbk.
KEP-0075/IV/2012
Additional Personnel in the Secretariat of the Board of Commissioners PT Jasa Marga (Persero)
23 April 2012
Tbk.
KEP-0081/IV/2012
Agreement to Appoint Chairman to Chair Annual GMS and Extraordinary GMS of PT Jasa Marga
30 April 2012
(Persero) Tbk. on 09 May 2012.
KEP-00102/VI/2012
Decision of 2012 Remuneration and 2011 Tantieme for Members of Directors and Board of
09 June 2012
Commissioners of PT Jasa Marga (Persero) Tbk.
KEP-0167/VII/2012 04 July 2012
Appointment of Legal Expert for the Board of Commissioners of PT Jasa Marga (Persero) Tbk.
KEP-0125/VII/2012
Approval and Ratification of the Revision to Jasa Marga Work and Budget Plan for Financial
31 July 2012
Year 2012.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance B oard of Commissioner s
Recommendations from the Board of Commissioners
Commissioners are collectively in charge of and
The follow ups of all decisions of Board of Commissioners
in carrying out the functions of supervision and giving
and Directors Joint Meetings stated in Minutes of Meeting
advice to the Directors. The Committees supporting
are always monitored in the next meeting. The Board
Jasa Marga Board of Commissioners consist of
of Commissioners carries out its duties and functions
Audit Committee and Business Risk and Investment
in giving advice, among others by giving Board of
Committee.
Commissioners recommendations to the Directors. Explanation on the Committees of the Board of
The Committees under the Board of Commissioners As
corporate
organs
supporting
the
Board
Human Capital Management
responsible for assisting the Board of Commissioners
Commissioners is provided separately. of
Directors Duties and Responsibilities of the Directors
resulted from the audit of internal auditors carried out by the Internal Auditing Unit as well as external auditor.
In performing their duties and responsibilities, the
Members of the Directors are appointed and dismissed
Directors always refer to and use the guidance from
by GMS.
Information for Investors
Commissioners, the committees under the Board of
provisions and prevailing rules and regulations. The
In order to further synchronize with the Vision and
Directors’ main duties are follows:
Mission of the Company, based on the Decision of the
• To lead and manage the Company in accordance with
Directors No. 60/KPTS/2009 dated 30 March 2009,
the Company’s objectives and aims, as well as to
the duties and responsibilities of each member of the
continuously make every effort to improve efficiency
Directors are as follows:
and effectiveness of the Company. • To control, maintain and manage the Company’s assets.
Corporate Profile
Company’s Articles of Association as well as internal
President Director Duties and authorities of the President Director are to
The Directors undertake their duties of managing the
a. The achievement of the Company’s targets based
Company for the interest and objectives of the Company,
on its objectives and aims, Vision and Mission, as
and represent the Company both inside or outside the
well as RJPP (corporate long-term plan) and the
court in accordance with the mandate of the Shareholders
responsibility of the running of the Company.
as stated in the in the resolution of GMS. The Directors
b. The implementation of management and control
are accountable for the carrying out of their duties to the
of the functions the Corporate Secretary, Internal
shareholders through GMS. The Directors continuously
Control and Risk Management.
follow up the findings of audit and recommendations
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
lead and ensure:
141
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Directo r s
Operation Director
c. Management
The duties and authorities of Operation Director are to lead and ensure the achievement of the Company’s targets based on the Company’s objectives and aims, Vision and
Management Reports Management Discussion and Analysis
financial
investment portfolio. d. Management of the Company’s information technology.
of the Company in the field of toll road operation and
f. Management
of
partnership
program
and
community development program (PKBL).
b. Toll fees collection.
Human Capital & General Affairs Director
c. Maintenance and improving toll roads along with
The duties and authorities of the Human Capital &
the facilities carried out either by the Company or in
General Affairs Director are to lead and ensure the
cooperation with business partner.
achievement of the Company’s targets based on the
to toll road users.
Corporate Governance
Company’s
Mission, and RJPP, and being responsible for the running
a. Toll road operation in order to provide excellent service
d. Toll road security system.
Company’s objectives and aims, Vision and Mission,
e. Risk management related to toll road operation as well
and RJPP, and being responsible for the running of the
as maintenance and improving toll roads along with the
Company in the field of human capital development,
facilities.
activities in general affairs and legal, comprising: a. Development of the Company’s organization and
Business Development Director
management.
The duties and authorities of Business Development Director are to lead and ensure the achievement of the
b. Development of system and procedure of the human capital management.
Company’s targets based on the Company’s objectives and
c. Development of competency of the human capital.
aims, Vision and Mission, and RJPP, and being responsible
d. Development and preservation of corporate
for the running of the Company in the field of business
culture. e. Management of the activities of logistics and the
development, which covers: a. Management of investment activities in developing new toll roads carried out either by the Company,
Company’s assets security as well as other general affairs activities.
Subsidiaries and/or in cooperation with business
f. Management of legal service function.
partner.
g. Risk
b. Management
of
activities
of
developing
other
businesses by maximizing the potential sources of the Company, Subsidiaries and/or in cooperation with
management
related
to
policies
in
management and development of human capital, general affairs and legal matters. h. Management
and
supervision
of
the
implementation of Good Corporate Governance
business partner. c. Supervision and control the performance of the
principles within the Company.
Subsidiaries. d. Management and development of technology in toll roads and other businesses development. e. Risk management related to investments in new toll road development and in other businesses.
Corporate Social Responsibility
the
e. Risk management for finance-related policies.
maintenance, comprising:
The additional duty and authority of Human Capital and General Affairs Director in relation to the management and supervision of the implementation of Good Corporate Governance principles within the Company is based on the Decision of the Directors
Finance Director
No. 199/KPTS/2011 dated 30 December 2011 on
The duties and authorities of Finance Director are to lead
the Change in the Decision of the Directors of PT
and ensure the achievement of the Company’s targets
Jasa Marga (Persero) Tbk. No. 60/KPTS/2009 on
based on the Company’s objectives and aims, Vision and
Distribution of Duties and Authorities of Directors
Mission, and RJPP, and being responsible for the running
(the addition of Letter h in Article 1 Paragraph (5) in
of the Company in the field of finance along with the
Decision of the Directors of PT Jasa Marga (Persero)
Company’s information and technology, comprising:
Tbk. No. 60/KPTS/2009 on Distribution of Duties and
a. RKAP (corporate work and budget plan) and RJPP.
Authorities of Directors).
b. Financial control of the Company. 142
of
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Direc to r s
With the said additional duty and authority, Jasa Marga Directors have then appointed one member of the Directors, i.e. Human Capital and General Affairs Director as the Director responsible for the implementation and supervision of GCG at the Company. This also shows that the Company responds to the enactment of the Decision of the Secretary to the State of Good Corporate Governance implementation at SOEs.
Requirements, Membership and Composition of Directors All members of the Directors of the Company have complied with prevailing formal and material requirements. Formal requirements are general, in accordance with prevailing rules and regulations, while material requirements are specific, adjusted in accordance with the needs and nature of the Company’s business.
Human Capital Management
Ministry for SOEs No. SK-16/S.MBU/2012 dated 06 June 2012 on indicators/parameters of assessment and evaluation
The Company’s Directors consist of five (5) members, namely one (1) President Director and four (4) Directors. All members of Directors are domiciled in Indonesia. Directors are appointed by GMS, with the term of office of five (5) years for each member and may be re-appointed based on resolutions of GMS. The term of office of each member of Directors is terminated in the case of resignation, non-compliance with requirements, death, and dismissal by the Board test in accordance with prevailing rules and regulations as well as provision on GCG. The entire members of Directors have integrity, as well as sufficient competencies and reputation. The composition of the Directors are decided in order that management activities are carried out in accordance with the Company’s Vision and Mission, as well as short-term and long-term plan. The Company’s Directors consists of five Directors with the following composition:
Information for Investors
of Commissioners or based on resolutions of GMS. The appointment of Directors has passed the process of fit & proper
Table Composition of Jasa Marga Directors Job Title President Director
Hasanudin
Operation Director
Abdul Hadi Hs.
Business Development Director
Reynaldi Hermansjah Muh Najib Fauzan
Finance Director Human Capital and General Affairs Director
Resolutions of Extraordinary GMS on 30 January 2012 Resolutions of Extraordinary GMS on 30 January 2012 Resolutions of Extraordinary GMS on 30 January 2012
Corporate Profile
Adityawarman
Legal Basis of Appointment
Resolutions of Extraordinary GMS on 30 January 2012 Resolutions of Extraordinary GMS on 30 January 2012
Directors’ Fit and Proper Test All members of Jasa Marga Directors have integrity, competencies, reputation, experience along with expertise that are required in undertaking their functions and duties. The mechanism for selecting or nominating the candidate of members of Directors is regulated by the Regulation of State Minister for SOEs No. PER-06/ MBU/2012 dated 21 May 2012. The Shareholder of Dwiwarna conducts fit and proper test in cooperation with independent party. The results provided by the independent party are then proposed to GMS for further processed. Based on the abovementioned regulation, the table of fit and proper test status for each Director in office in 2012 is as
Management Responsibility for Annual Report 2012
Name
follows:
Constructing towards the Future
Annual Report 2012
143
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Director s Table Fit and Proper Test Status of Jasa Marga Directors Name
Domicile
Passed Fit And Proper Test
Adityawarman
Jakarta
√
Hasanudin
Jakarta
√
Abdul Hadi Hs.
Jakarta
√
Reynaldi Hermansjah
Jakarta
√
Muh Najib Fauzan
Jakarta
√
Management Reports
Independence of Directors The Directors are appointed to run all actions related to the management of the Company or relationship with other parties independently without interference of any other parties or of those that would conflict with the rules and regulations as well as with the Company’s Articles of Association, which materially may intrude on the objectivity and independence of the Directors in carrying out their tasks that are intended solely for the interests of the Company. Based on the Company’s Articles of Association, among members of Directors and between each member of the Directors and each member of the Board of Commissioners is not related by blood within the third degree, both vertically and horizontally, or by marriage.
Management Discussion and Analysis
Directors’ Dual Positions Based on Article 11 Paragraph (13) of the Company’s Articles of Association, members of the Directors are prohibited to hold dual positions as: 1. Member of Directors at SOEs, local government-owned enterprises, and private owned enterprises, as well as other positions that may cause conflict of interest. 2. Other structural and functional positions at any central and local government institutions. 3. Other positions according to prevailing rules and regulations. In 2012, none of the members of Jasa Marga Directors holds dual positions as stated in Article 11 Paragraph (13) of the Company’s Articles of Association.
Directors’ Work Guidelines and Rules (Board Charter)
Corporate Governance
In carrying out the duties of supervision and giving advice to the Directors, the Board of Commissioners refers to the guidance for Board of Commissioners and Directors (Board Charter). Board Charter consists of guidelines of work procedures for the Board of Commissioners and Directors and explanation on stages of activities in manners that are well-structured, systematic, easily understood, able to be implemented consistently, and able to serve as reference for Board of Commissioners and Directors in carrying out each of their duties to reach the Company’s Vision and Mission. Directors’ Work Guidelines and Rules in Jasa Marga Board Charter are specifically regulated in Chapter III which encompasses Duties, Obligations, Authorities, Rights, Requirements, Membership, Introductory Program, Job Ethics, Meetings, Performance Evaluation, Relationship between Board of Commissioners and Directors, Corporate Secretary
Corporate Social Responsibility
and Internal Control System.
144
Directors Training/Seminar Activities In 2012, the members of the Company’s Directors have participated in trainings and seminars as follows:
Table Competency Development of Members of Directors in 2012 Director Hasanudin
Title of Training/Seminar
Organized by
Time
Seminar on SOEs Top Management Refreshment 2012
BUMN Executive Club
22 February 2012
Enhancement Leadership Program for Executive
Jakarta Learning Society
01-02 November 2012
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Direc to r s
Muh Najib Fauzan
Title of Training/Seminar
Organized by
Time
Seminar on SOEs Top Management Refreshment 2012
BUMN Executive Club
22 February 2012
Enhancement Leadership Program for Executive
Jakarta Learning Society
01-02 November 2012
Seminar on Leadership Series 2012 “Speeding up Bureaucracy”
QB Leadership Center
08 August 2012
Directors’ Meetings In 2012, the Directors have held meetings consisting of 50 Directors’ internal meetings and 16 Board of Commissioners and Directors’ Joint Meetings.
Human Capital Management
Director
Table Attendance of Directors in Directors’ Internal Meetings in 2012 Name
Job Title
Percentage of
Meetings
Attendance
Attended
(%)
1
Adityawarman
President Director
50
100
2.
Hasanudin
Operation Director
43
86
3.
Abdul Hadi Hs.
Business Development Director
45
90
4.
Reynaldi Hermansjah
Finance Director
48
96
5.
Muh Najib Fauzan
48
96
Human Capital and General Affairs Director
Information for Investors
No.
Number of
Decisions made in Jasa Marga Directors’ Meetings have been well recorded and documented in Directors’ Minutes of Meeting which are signed by meeting chairman and distributed to all members of Directors who are both present and absent at the meetings. Dissenting opinion along with its reasons during the meeting will be stated in the Minutes of Corporate Profile
Meeting. Agenda of Directors’ Meeting among others were as follows: 1. Discussion on Share Ownership of the Company and Subsidiaries. 2. Discussion on Operational Aspect. 3. Discussion on Consultants Assisting the Company. 4. Discussion on Investment. 5. Discussion on Remuneration for Directors and Managers at Subsidiaries. Management. 7. Discussion on CSR Aspect. 8. Discussion on the Aspect of Procurement of Goods and Services. 9. Discussion on Cooperation with Third Parties. 10. Discussion on Communication Aspect.
Decision of the Directors in 2012 In 2012, the Directors have issued various decisions in the aspects of human resources management, finance, and business operation, as well as strategic aspect. The Directors have issued a total of 205 decisions in 2012.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
6. Discussion on Implementing Systems at Jasa Marga: Malcolm Baldrige, GCG, Whistleblowing System, and Risk
145
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
Corporate Governance Directo r s
Table Number of Directors Decisions in 2012 Directorate
Number of Decisions
President Director
62
Operation Director
57
Business Development Director
9
Finance Director
8
Human Capital and General Affairs Director
69
Procedures, Basis of Decision and Amount of Remuneration of Members of Directors Referring to Article 96 Paragraph (1) of Law of Limited Liability Company No. 40 of 2007, the amount of salary and allowance of Directors is decided based on resolutions of GMS. This authority, based on Article 96 Paragraph (2) may be delegated to the Board of Commissioners.
Diagram Procedures for Deciding the Remuneration of Members of the Directors
BOARD OF COMMISSIONERS • • •
GMS
Article 96 of Law on Limited Liability Company No. 40 of 2007 Provisions of amount of salary and allowances of members of Directors decided based on resolution of GMS. The authority of such GMS referred to in Paragraph (1) may be delegated to the Board of Commissioners. In the event that GMS authority is delegated to Board of Commissioners referred to in Paragraph (2), the amount of salary and allowances Commissioners referred to in (1) is decided based on decision of Board of Commissioners’ meeting.
Meanwhile, Article 113 of Law on Limited Liabilities Company No. 40 of 2007 regulates that the amount of salary and
Corporate Governance
allowances of the Board of Commissioners are decided by GMS. The form of allowances, facilities, and other components included in the component of income (other than salary) refers to the Regulation of the State Minister for SOEs No. Per-07/MBU/2010 dated 27 December 2010 on Guidance on Deciding the Remuneration of Directors, Board of Commissioners and Supervisory Board of SOEs. Remuneration of the Company’s Directors has currently complied with the abovementioned regulation; hence the Directors Remuneration consists of: 1. Salary/Honorarium. 2. Allowances. Corporate Social Responsibility
3. Facilities.
146
4. Tantieme/Performance Incentive.
The remuneration 2012 and Tantieme Financial Year 2011 for members of Directors was based on the Decision of the Board of Commissioners No. KEP-00102/VI/2012 dated 09 June 2012 on Decision of Remuneration 2012 and Tantieme Financial Year 2011 for Members of the Directors and Members of the Board of Commissioners of PT Jasa Marga (Persero) Tbk. Based on the said decision, the salary of President Director was Rp 80,000,000 (eighty million Rupiah) monthly, whereas that of other members of Directors was 90% of President Directors’ salary. The allowances
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Direc to r s
and facilities for the Directors and Board of Commissioners refer to the provisions stipulated in the Regulation of State
Tantieme for the Directors and Board of Commissioners for the performance in 2011 was decided Rp 13,930,000,000 (thirteen billion, nine hundred thirty million Rupiah) and is divided in accordance with the Composition of Job Factor as well the term of office of each member of Directors and Board of Commissioners during the financial year.
Directors’ Remuneration Policies Fixed remuneration such as salary/honorarium, allowances and facilities is decided while considering the factors of the Company’s revenues, assets, financial condition and capability, along with inflation rate and other relevant factors not
Human Capital Management
Minister for SOEs No. Per-07/MBU/2010 dated 27 December 2010.
contradicting with prevailing rules and regulations. Meanwhile, allowances and tantieme that are on variable basis are decided while considering the factors of target achievements, financial condition and health along with other relevant factors (merit system).
Remuneration received by the Directors in 2012 was as follows:
Table Remuneration of Members of the Directors in 2012 Allowances Monthly Name & Job Title
Yearly Tantieme
Salary Housing
Utility
Religious
Annual Leave
Total/Month
Total/Year
Financial Year
Information for Investors
Directors’ Remuneration Structure
President Director HasanudinOperation Director
80,000,000
21,000,000
6,300,000
80,000,000
80,000,000
1,843,676,471
107,300,000
3,232,276,471
72,000,000
21,000,000
6,300,000
72,000,000
72,000,000
-
99,300,000
1,284,600,000
72,000,000
21,000,000
6,300,000
72,000,000
72,000,000
1,843,676,471
99,300,000
3,128,276,471
72,000,000
21,000,000
6,300,000
72,000,000
72,000,000
1,843,676,471
99,300,000
3,128,276,471
72,000,000
21,000,000
6,300,000
72,000,000
72,000,000
-
99,300,000
1,284,600,000
Abdul Hadi Hs.Business Development Director
Corporate Profile
2011 Adityawarman-
Reynaldi HermansjahFinance Director
Human Capital and General Affairs Director
Table Comparison of Directors Remuneration Classification in 2012 and 2011 Amount of Remuneration per person in 1 Year
2012
2011
Above Rp 1 billion
5
5
Between Rp 500 million and Rp 1 billion
-
-
Below Rp 500 million
-
-
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Muh Najib Fauzan-
147
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Relationship between Board of Commissioners and Directors
The duties and responsibilities of the Board of
Directors schedule periodic discussion in Board
Commissioners and Directors as two corporate organs are
of Commissioners and Directors’ Joint Meetings.
separated as each has different daily operation. Board of
The periodic meetings are held to discuss various
Commissioners main task is supervising and giving advice
agenda in relation to work plan, operational activities,
whereas Directors main task is managing the operation of
business opportunities, along with strategic issues
the Company.
requiring Board of Commissioners’ approval. The said
Management Reports
meetings serve as the form of coordination to discuss The Board of Commissioners and Directors respect and
Directors’ periodic reports and give feedbacks, notes
understand each other’s duties, responsibilities and
and advice which are all stipulated in the Minutes of
authorities according to prevailing rules and regulations as
Meeting.
well as Articles of Association. The Board of Commissioners and Directors must coordinate and cooperate to reach
Meeting decisions, made based on either the
business objective and sustainability in the long run and
principle of deliberation for consensus or voting,
serve as role model to those in the lower levels.
are binding and are to be followed up. In the voting
Management Discussion and Analysis
process, any member of the Board of Commissioners Informal relationship may be carried out by each member
with conflicting interest is not allowed to vote and
of the Board of Commissioners and Directors; however,
information on this matter is stated in the Minutes of
it does not have legal force until being decided through
Meeting.
legal mechanism in accordance with prevailing rules and regulations as well as Articles of Association of the
Throughout 2012, the Board of Commissioners has
Company. In certain strategic issues related to asset,
held 12 Joint Meetings of Board of Commissioners and
loan, equity, organizational structure as well as decision of
Directors. The following table shows the attendance
directors and commissioners of Subsidiaries, the Directors
of each member of the Board of Commissioners and
require Board of Commissioners formal approval.
Directors.
In order to unite the views and to decided significant
Corporate Social Responsibility
Corporate Governance
matter concerning the Company’s business sustainability and operation, the Board of Commissioners and
Table Attendance of Board of Commissioners and Directors in Board of Commissioners and Directors’ Joint Meetings in 2012 Name
Number of
Percentage of
Attendance
Attendance (%)
Agoes Widjanarko
Chairman
11
91
Ibnu Purna
Commissioner
12
100
Akhmad Syakhroza
Commissioner
7
58
Joyo Winoto
Commissioner
1
8
Mayjen. (Purn.) Samsoedin
Independent Commissioner
11
91
Independent Commissioner
12
100
Adityawarman
President Director
11
91
Hasanudin
Operation Director
12
100
Abdul Hadi Hs.
Business Development Director
7
58
Reynaldi Hermansjah
Finance Director
11
91
11
91
Irjen. Polisi (Purn.) Michael Dendron Primanto
Muh Najib Fauzan
148
Job Title
Annual Report 2012
Human Capital and General Affairs Director
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Assessment of Board of Commissioners and Directors
In general, GCG assessment of the Board of
The Shareholders, through the mechanism of GMS,
Commissioners consists of the following aspects:
conduct assessment of the performance of the Board
1. Board of Commissioners participates in continuous
of Commissioners and Directors. Additionally, the Board of Commissioners also creates guidelines on
training and learning programs. 2. Board
of
Commissioners and
distributes
responsibilities
duties,
self-assessment of the performance of the Board of
authorities
clearly
and
Commissioners by issuing Decision Letter of the Board
determines factors required to support the carrying
of Commissioners No. KEP-00177/XI/2012 on Decision
out of Board of Commissioners’ duties.
of Revision to Performance Assessment System of the
3. Board of Commissioners conducts supervision
Board of Commissioners of PT Jasa Marga (Persero) Tbk.
on the implementation of policies of managing
in 2012.
Human Capital Management
Assessment Implementation Process
Subsidiaries/joint ventures.
Performance Assessment Criteria
of members of Directors, performance assessment
The criteria for performance assessment of the Board of
of Directors (individual and collegial) and proposes
Commissioners are as follows:
tantieme/performance
1. GMS.
prevailing rules and regulations as well as Directors’
2. Financial Supervision. 3. Operational Supervision. 4. Development Supervision. 5. Human Resources.
incentive
based
on
performance. 5. Board of Commissioners performs required actions in relation to potential conflict of interest. 6. Board of Commissioners monitors and ensures that
6. Compliance Supervision.
the practices of Good Corporate Governance have
7. Board of Commissioners’ Internal Process.
been effectively and continuously implemented.
Information for Investors
4. Board of Commissioners plays the role in candidacy
The criteria for performance assessment of the Directors
of Commissioners’ Meetings and attends Board
consist of:
of Commissioners’ Meetings in accordance with
1. Implementation of duties and responsibilities of each
prevailing rules and regulations.
member of the Directors according to the Articles of Association. 2. Implementation of resolutions of Annual GMS of 2011. 3. Achievement and realization of RKAP (work and
8. Board of Commissioners has Secretary of Board of Commissioners to support secretarial duties of Board of Commissioners. 9. Board of Commissioners has effective Committee
Corporate Profile
7. Board of Commissioners holds effective Board
of Board of Commissioners.
budget plan). Results of Assessment on GCG of Board of
the following aspects:
Commissioners and Directors
1. Directors have introductory and training/learning
In 2012, assessment on GCG implementation of
programs and carry out the programs continuously.
Directors and Board of Commissioners was carried out
2. Directors carry out operational and financial control
and the process was in accordance with GCG assessment
of the implementation of the Company’s policies
reference developed by the State Ministry for SOEs based
and plan.
on the Decision of the Secretary of State Ministry for
3. Directors carry out the management of Company in
SOEs No. SK-16/S.MBU/2012 dated 06 June 2012. The
accordance with prevailing rules and regulations as
assessment results showed that Board of Commissioners
well as the Articles of Association.
and Directors each achieved the score of 91.08% and 96.84%, respectively.
4. Directors nurture relationship that adds value to the Company and the Stakeholders.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
In general, GCG assessment of the Directors consists of
149
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance A ssess m en t of B oa rd of Com m i s s i oner s a n d D i rector s
5. Directors monitor and manage potential conflict of
10. Directors convene Annual GMS as well as other
interest of members of Directors and the Management
GMS in accordance with prevailing rules and
under the Directors.
regulations.
Management Reports
6. Directors
ensure
that
the
company
performs
communication and information disclosure according
Party Conducting Assessment
to prevailing rules and regulations and submission of
In 2012, assessment activity of the Directors was
information to the Board of Commissioners and the
carried out by the Board of Commissioners whereas
Stakeholders is in a timely manner.
assessment of the Board of Commissioners was carried
7. Directors hold Directors’ Meetings and attend Directors’ Meetings according to prevailing rules and regulations. 8. Directors are obligated to carry out effective internal supervision of high quality. 9. Directors carry out the function of effective Corporate Secretary of high quality.
out by means of self-assessment, in which a member of Board of Commissioners was assessed by another member of the Board of Commissioners. Meanwhile, in creating KPI (Key Performance Indicator) of the Board of Commissioners, the Company was assisted by the Management Institute of the Economics Faculty
Management Discussion and Analysis
of the University of Indonesia (Lembaga Manajemen Fakultas Ekonomi Universitas Indonesia – LMFE UI).
Committees Audit Committee The Company’s Audit Committee is decided by the Decision of the Board of Commissioners No. KEP-
Corporate Governance
0007/I/2012 dated 16 January 2012 on Dismissal and Appointment of Audit Committee of the Company.
is as follows:
Table Composition of Jasa Marga Audit Committee
Members of Audit Committee are dismissed in the case
Irjen. Polisi (Purn.)
Chairman and member
of termination of term of office and termination based on
Michael Dendron
- Independent
Decision of the Board of Commissioners, non-compliance
Primanto
Commissioner
with required performance and/or incompetence in
Agita Widjajanto
Member – Expert for
carrying out the duties.
Technical Aspect Rustam Wahjudi
Member – Expert for
The Company’s Audit Committee consists of one (1)
Administration and
Chairman that is also Committee member and two (2)
Financial Aspect
Corporate Social Responsibility
Committee members.
150
The composition of Audit Committee of the Company
Annual Report 2012
Constructing towards the Future
Profile of Audit Committee is available on page 254.
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Educational Qualification and Work Experience
Duties and Responsibilities of Audit Committee
The Company’s Audit Committee has sufficient educational
In accordance with Regulations of the State Minister
qualification and work experience in supporting the
for State-Owned Enterprises No. PER-05/MBU/2006
implementation of duties as Audit Committee. The profile
dated 20 December 2006 on Audit Committee for
of Audit Committee members is provided in Profile of Audit
State-Owned Enterprises, the main function of Audit
Committee.
Committee is to assist the Board of Commissioners in fulfilling the supervision function in order that the
The recruitment process of Audit Committee Members is
management of the Company is able to take place
carried out by the Board of Commissioners by considering
efficiently and effectively. In carrying out the duties
competencies, expertise and integrity as well as ability
and report, Audit Committee is independent and
to cooperate. The Board of Commissioners conducts
reports directly to the Board of Commissioners.
Human Capital Management
Committees
Audit Committee members. The Board of Commissioners
In carrying out its duties, Audit Committee reports
then conducts meeting to decide the selected members
to the Board of Commissioners. The accountability
of Audit Committee. Next, the decision and appointment
of Audit Committee to the Board of Commissioners
of Audit Committee members is carried out through the
represents
Decision Letter of the Board of Commissioners.
management of the Company in the framework of
supervision
accountability
of
the
GCG principles implementation. All Jasa Marga Audit Committee Members have integrity, as well as good financial competencies and reputation.
Based on Audit Committee Charter legalized by the Board of Commissioners in the Decision of the Board
Legal Basis on the Forming of Audit Committee
of Commissioners No. KEP-00.06/I/2008 dated 22 Marga (Persero) Tbk., the duties and responsibilities
on the following rules/regulations:
of the Audit Committee are as follows:
1. Law of the Republic of Indonesia No. 19 of 2003 on
a. Assisting the Board of Commissioners in making
State-Owned Enterprises.
sure the effectiveness of internal control systems
2. Decision of the Directors of the Jakarta Stock Exchange No. Kep-305/BEJ/07-2004 dated 19 July
and the effectiveness of the implementation of internal and external auditors’ duties.
2004 on Regulation No. I-A on the Listing of Shares
b. Evaluating the implementation of audit works
and Equity Securities apart from the Shares Issued by
and audit results undertaken by both internal and
the Public Company.
c. Recommending improvements for the internal
PM/2004 dated 24 September 2004 Attachment:
control system of the Company along with its
Regulation IX.I.5 on the Forming and Implementation
implementation.
Guidelines for Audit Committee.
d. Assuring the existence of excellent review
4. Law of the Republic of Indonesia No. 40 of 2007 on Limited Liability Company. Enterprises
No.
State
Minister
procedures of all information disclosed by the Company, including periodic financial statements,
for
PER-05/MBU/2006
State-Owned dated
20
December 2006 on Audit Committee for State-Owned
financial
projection/prognoses
along
with
other financial information submitted to the Shareholders.
Enterprises.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
external auditors.
3. Decision of Chairman of BAPEPAM No. Kep-29/
of
Corporate Profile
January 2008 on Audit Committee Charter of PT Jasa
The Audit Committee of the Company was formed based
5. Regulation
Information for Investors
interview to deepen the information on the candidates
151
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Comm ittees
e. Assuring the compliance of procedures of excellent
on Work Implementation of Audit Committee. In
review on the carrying out of the Company’s activities
carrying out their duties, the Audit Committee works
in accordance with prevailing standard operating
professionally and independently.
Corporate Governance
Management Discussion and Analysis
Management Reports
procedures. f. Giving opinions to the Board of Commissioners
Audit Committee members have complied with
regarding report or other matters submitted to the
requirements in terms of quantity, composition,
Directors or the Board of Commissioners.
criteria, competencies, and independence based
g. Identifying issues requiring attention of the Board of
on the provisions in the Decision of Chairman of
Commissioners, and undertaking other duties related
Bapepam-LK
to the Board of Commissioners, including:
September 2004, Attachment: Regulation IX.I.5 on
1. Reviewing financial information that will be
the Forming and Implementation Guidelines for Audit
published by the Company such as financial
Committee, and Regulation of State Minister for SOEs
report, Long-Term Plan, Work and Budget Plan,
No. PER-05/MBU/2006 dated 20 December 2006 on
Management Report as well as other financial
Audit Committee for State-Owned Enterprises and No.
information.
PER-12/MBU/2012 dated 24 August 2012 on Organs
2. Reviewing the Company’s compliance to prevailing
No.
Kep-29/PM/2004
dated
24
Supporting Board of Commissioners/Supervisory
laws and regulations of the Capital Market as well
Board of State-Owned Enterprises, which are:
as other regulations related to the Company.
• Audit Committee, consisting of one member of
3. Reviewing the audit undertaken by internal
Independent Commissioner as Chairman of Audit
auditor and reviewing adequacy of internal audit
Committee and two members coming from outside
function including the number of auditors, annual
SOE. • Each member of Audit Committee is not related
work plan and assignment carried out. 4. Reporting to the Board of Commissioners
by blood by blood within the third degree, both
on various risks the Company faces and the
vertically and horizontally, or by marriage with
implementation of risk management by the
members of the Board of Commissioners and/or
Directors.
the Directors.
5. Reviewing and reporting to the Board of
• One of the members of Audit Committee has
Commissioners on complaints related to the
educational background of accounting or finance
Company.
and comprehends risk management, whereas
6. Reviewing
adequacy
of
external
audit
implementation including audit plan and the
another member comprehends the industry/ business/technicality of the related SOE.
number of auditors. In carrying out their duties, the Audit Committee works
Independence of Audit Committee
professionally and independently.
Corporate Social Responsibility
The Audit Committee is chaired by an Independent
152
Commissioner who assisted by two other professional
The reinforcement/support of the implementation
members from outside the Company with Financial
of the Audit Committee independence stated above
and Engineering background, in accordance with the
is proven by the Statement of Audit Committee
Company’s field of industry. This complies with the
Independence dated 05 January 2012, signed by the
regulation stipulated in the Decision of Chairman of
Chairman and all members of Audit Committee.
Capital Market Supervisory Agency (Bapepam-LK) No. Kep-29/PM/2004 on the Forming and Guidelines
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Table Independence of Audit Committee Irjen. Polisi (Purn.) Michael Aspect of Independence Dendron Primanto
Agita Widjajanto
Rustam Wahjudi
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
Not related financially with Board of Commissioners and Directors Not related by management with Jasa Marga, Subsidiaries as well as
Human Capital Management
Committees
affiliated companies Not related by share ownership at Jasa Marga Board of Commissioners, Directors, and/or fellow Audit Committee members Not holding the position in the management of political party, local government
Information for Investors
Not related by blood with
Report on Implementation of Audit Committee Activities The duties and responsibilities of Audit Committee mandated by Audit Committee Charter are translated into annual activity plan, which in 2012 was interpreted in Audit Committee Work Program (Program Kerja Komite Audit – PKKA) of 2011 on Audit Committee’s Annual Work Program of 2012, and was decided/was signed by Chairman of the Board of Commissioners on 26 January 2012. As the realization of 2012 PKKA, Audit Committee has conducted the following activities: 1. Creating Audit Committee Work Program of 2013 and Quarterly Report on Implementation of Audit Committee Activities of 2012 and Report of 2011.
Corporate Profile
2012. The 2012 PKKA was submitted to the Board of Commissioners by letter No. KA/034/XII/2011 dated 28 December
2. Assessing the carrying out of activities and results of audit carried out by Internal Auditing Unit (Satuan Pengawasan Intern – SPI) and conducting Coordinating Meeting with SPI at least once every three months. Accountant Office) that audits the Financial Statements of PT Jasa Marga (Persero) Tbk. Financial Year 2011 and 2012.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
3. Monitoring and assessing the sufficiency of implementation and results of activities of External Auditor (Public
153
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Comm ittee s
4. Conducting tender for the procurement of External
Commissioners, among others:
audit of Financial Statements of PT Jasa Marga
• Participating in Seminar “COSO Framework in
(Persero) Tbk. Financial Year 2012. 5. Assessing the effectiveness of Partnership and Community
Development
Programs
(Program
Corporate Governance
Management Discussion and Analysis
Management Reports
Kemitraan dan Bina Lingkungan – PKBL).
Corporate Social Responsibility
Improving
Board
of
Commissioners
Supervision of Internal Control in BUMN-BUMD and Subsidiaries of BUMN-BUMD” based on Regulation of State Minister for SOEs No. Per-
6. Reviewing management reports, including financial statements of PT Jasa Marga (Persero) Tbk., Quarterly Financial Statements of PKBL and Annual Report. 7. Attending meetings, consisting of:
01/MBU/2011 on Implementation of Good Corporate Governance. • Participating in European Internal Auditor Conference Amsterdam and On Site Learning
• Audit Committee internal meeting 13 times. • Meeting with SPI 12 times.
to La Paste Group. • Participating
Socialization
of
Regulation
• Meeting of Negotiation Team/Committee of
of State Minister for SOEs No. PER-12/
Procurement of the Service of Public Accountant
MBU/2012 on Organs Supporting Board of
Office 1 time (the previous meetings were carried
Commissioners/Supervisory Board of SOE.
out in late 2012). • Meeting with Directors/management (Heads of Bureau/Division) of the Company 12 times.
The output or results of activities of Audit Committee stated above were then translated into letters or
• Meeting with Auditor External 6 times.
reports, among others included Attention Letters,
• Meeting with PKBL Unit 1 time.
Response Letters, Comments, and Report on Results
• Internal Meeting of the Board of Commissioners
of Activities, submitted to the Board of Commissioners.
12 times. 8. Participating in work visit and meeting of the Board of
Audit Committee’s Meetings
Commissioners to Branch Offices 5 times (Surabaya-
Audit Committee holds periodic meetings with
Gempol
reference to Audit Committee Charter.
Branch,
Semarang
Branch,
Jakarta-
Cikampek Branch, Jakarta-Tangerang Branch, and
The meeting with external auditor is carried out at
Cawang-Tomang-Cengkareng Branch).
least once a month during audit schedule. Audit
9. Site visit to Branch Offices and Subsidiary 4 times
Committee meeting may invite the Company’s
(Belmera Branch, Purbaleunyi Branch, and Jakarta-
Management through its Internal Auditing Unit to
Cikampek Branch, and Subsidiary PT Jalantol
provide information required.
Lingkarluar Jakarta). 10. Site visit to Subsidiaries 5 times (PT Marga Nujyasumo
The attendance of each member of Audit Committee
Agung, PT Trans Marga Jabar, PT Margabumi Adhika
in Audit Committee Meeting and the activities carried
Raya, PT Marga Lingkar Jakarta, and PT Jasamarga
out by Audit Committee throughout the year 2012 are
Bali Tol).
as follows:
11. Providing data to the Board of Commissioners for
154
12. Other activities that are assigned by the Board of
Auditor (Public Accountant Office) to perform general
both Board of Commissioners’ Meeting and Board of Commissioners and Directors’ Joint Meeting based on the work program of the Board of Commissioners.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Committees
Primanto Meeting/Activity
Number of Times
Chairman Attendance Number of Times
%
Agita Widjajanto
Rustam Wahjudi
Member
Member
Attendance
Attendance
Number of Times
%
Number of Times
%
Internal Meeting of Audit Committee
13
13
100
12
92
13
100
Meeting with SPI
12
14
100
14
100
14
100
1
1
100
1
100
1
100
12
12
100
12
100
12
100
12
12
100
11
91
12
100
Meeting/Discussion with External Auditor
6
6
100
6
100
6
100
Meeting with PKBL Unit
1
1
100
1
100
1
100
5
5
100
4
80
5
100
Visit to Subsidiaries
5
5
100
5
100
5
100
Site Visit
4
4
100
4
100
4
100
Meeting of Negotiation Team/Procurement of External Auditor Meeting with Directors/Management Internal Meeting of the Board of Commissioners
Visit and Meeting of Board of Commissioners at Branches
Information for Investors
Michael Dendron
Human Capital Management
Table Attendance of Members of Audit Committee in Audit Committee’s Meetings and Activities in 2012
The decisions made in Jasa Marga Audit Committee meetings have been well recorded and documented in minutes of meeting of Audit Committee. Minutes of Meeting is signed by meeting chairman and is distributed to all members of Audit Committee both present and absent in the meeting. Dissenting opinion along with its reasons during the meeting will be
Remuneration of Audit Committee Members of Audit Committee that are not members of the Board of Commissioners receive remuneration consisting of honorarium amounting to Rp 8,000,000 monthly and religious allowance amounting two-month honorarium.
Corporate Profile
stated in the Minutes of Meeting.
Total remuneration of Audit Committee members that are not members of the Board of Commissioners in 2012 amounted to Rp 224,000,000.
The Company’s Business Risk and Investment Committee is decided by the Decision of the Board of Commissioners No. KEP-00030/I/2012 dated 20 February 2012. Members of Audit Committee are dismissed in the case of termination of term of office and termination based on Decision of the Board of Commissioners, non-compliance with required performance and/or incompetence in carrying out the duties. The Company’s Business Risk and Investment Committee consists of one (1) Chairman that is also Committee member and two (2) Committee members.
The composition of Business Risk and Investment Committee of the Company is as follows: Ibnu Purna
Chairman
Bambang Widijanto Soewignjo
Member
Harun Al-Rasyid S. Lubis
Member
Management Responsibility for Annual Report 2012
Business Risk and Investment Committee
Profile of Business Risk and Investment Committee is available on page 256.
Constructing towards the Future
Annual Report 2012
155
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Comm ittee s
All Jasa Marga Business Risk and Investment Committee
3. Preparing
documents,
information,
material,
Members have integrity, as well as good competencies and
analysis and review in relation to investment
reputation.
implementation and risk management, in order
Management Reports
to minimize and or avoid the Company from cost
Legal Basis on the Forming of Business Risk and Investment Committee
overrun and improve efficiency and effectiveness
Business Risk and Investment Committee of the Company
4. Giving feedbacks and review on feasibility and
was formed based on the following rules/regulations:
risks of toll road and non-toll road investment,
1. Law of the Republic of Indonesia No. 19 of 2003 on
in relation to traffic volume projection, land
State-Owned Enterprises.
acquisition, project financing and appropriate
2. Law of the Republic of Indonesia No. 40 of 2007 on Limited Liability Company. Tbk.
use of technology and innovation as well as value engineering.
3. Decision of the Board of Commissioners of PT Jasa Marga (Persero)
Management Discussion and Analysis
in toll road and non-toll road investments.
5. Preparing annual work program of Business Risk
No. Kep-OO94/VIII/2010
and Investment Committee to get approval from
on Decision of the Forming of Business Risk and
the Board of Commissioners and creating periodic
Investment Committee of PT Jasa Marga (Persero)
report to be submitted to and evaluated by the
Tbk.
Board of Commissioners. 6. Carrying out other tasks assigned by the Board of
Duties and Responsibilities of Business Risk and Investment Committee
7. Reporting to the Board of Commissioners in the
Business Risk and Investment Committee reports to and
carrying out of the duties of Business Risk and
assist the Board of Commissioners in carrying out the
Investment Committee.
Commissioners.
duties in order that the management of the Company takes place efficiently and effectively through competent and independent control and system.
Independence of Business Risk and Investment Committee
Corporate Governance
Business Risk and Investment Committee carries out Based on Business Risk and Investment Committee
the duties and responsibilities independently and
Charter, the duties and responsibilities of the Business
professionally in accordance with prevailing rules and
Risk and Investment Committee are as follows:
regulations. Business Risk and Investment Committee
1. Evaluating short-term and long-term investment plan
is chaired by one of the Commissioners and the
stated in the Company’s RJPP and RKAP and submitting
members are professionals with the background in
the evaluation to the Board of Commissioners as
accordance with the Company’s field of industry.
inputs in arranging and or reviewing RJPP, as well as in discussing the annual RKAP proposed by the Directors.
The independence of Business Risk and Investment
2. Evaluating the implementation of investment, existing
Committee is reflected in the aspects described in the
investment policies and strategies along with risk Corporate Social Responsibility
management and giving recommendation in order to
156
review and decide new investment policies, strategies and business risks.
Annual Report 2012
Constructing towards the Future
following table:
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Committees
Bambang Ibnu Purna
Widijanto Soewignjo
Not related financially with Board of Commissioners and Directors Not related by management with Jasa Marga, Subsidiaries as well as affiliated companies Not related by share ownership at Jasa Marga Not related by blood with Board of Commissioners, Directors, and/or fellow Audit Committee members Not holding the position in the management of political party, local government
Harun Al-Rasyid S. Lubis
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√ Information for Investors
Aspect of Independence
Human Capital Management
Independence of Business Risk and Investment Committee Members
Implementation of Activities In 2012, Business Risk and Investment Committee has carried out the following duties: 1. Creating 2012 Key Performance Indicator (KPI) of Business Risk and Investment Committee. 2. Reviewing investment proposals. 3. Reviewing risk management concept of the Company. 4. Reviewing cooperation proposal. 5. Discussing progress of toll road projects being developed. 6. Reviewing results of evaluation of investment carried out by the Directors. Visiting Toll Road Development Projects.
Business Risk and Investment Committee’s Meetings Business Risk and Investment Committee holds meetings periodically. Business Risk and Investment Committee meeting may invite the Company’s Management to provide information required. The decisions of Business Risk and Investment Committee meetings are made based on the principle of deliberation for
Corporate Profile
7.
consensus. In the event that deliberation for consensus is not reached, decisions are made through voting. In the event that the votes that agree and disagree are equal, the proposal is then declined In 2012, Business Risk and Investment Committee has held meetings with the following attendance of each member of Management Responsibility for Annual Report 2012
Business Risk and Investment Committee:
Constructing towards the Future
Annual Report 2012
157
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Comm ittees
Table Attendance of Members of Business Risk and Investment Committee in Business Risk and Investment Committee Meetings and Activities in 2012
Meeting/Activity
Number of Times
Ibnu Purna Chairman
Bambang Widijanto Soewignjo Member
Harun Al-Rasyid S. Lubis Member
Attendance
Attendance
Attendance
Number of Times
Management Discussion and Analysis
Management Reports
Internal Meeting of the Board of Commissioners Internal Meeting of Business Risk and Investment Committee Meeting with Directors/Management
Number of Times
%
Number of Times
%
%
10
9
90
10
100
10
100
1
1
100
1
100
1
100
18
17
94
17
94
18
100
Meeting with Legal Consultant
1
1
100
1
100
1
100
Site Visit
1
1
100
1
100
1
100
Visit and Meeting at Branches
5
3
100
5
100
5
100
Visit to Subsidiaries
4
1
25
4
100
3
75
The decisions made in Jasa Marga Business Risk and Investment Committee meetings have been well recorded and documented in minutes of meeting of Business Risk and Investment Committee. Minutes of Meeting is signed by meeting chairman and is distributed to all members of Business Risk and Investment Committee both present and absent in the meeting. Dissenting opinion along with its reasons during the meeting will be stated in the Minutes of Meeting.
Remuneration of Business Risk and Investment Committee Members of Business Risk and Investment Committee that are not members of the Board of Commissioners receive remuneration consisting of honorarium amounting to Rp 8,000,000 monthly and religious allowance amounting twomonth honorarium. Total remuneration of Business Risk and Investment Committee members that are not members of the Board of
Corporate Governance
Commissioners in 2012 amounted to Rp 224,000,000.
Remuneration and Nomination Committee Currently the Company has not yet had Remuneration and Nomination Committee; however, the Company does have system and procedures in deciding remuneration to be implemented at the Company by referring to prevailing rules and regulations, i.e. Regulation of State Minister for State-Owned Enterprises No. PER-02/MBU/2009 dated 27 April 2009 on Guidance on Remuneration of Directors, Board of Commissioners and Supervisory Board of State-Owned Enterprises. Review on remuneration of the Board of Commissioners and Directors is conducted by Human Resources Management Bureau and the result is discussed in the Board of Commissioners and Directors Joint Meeting to be agreed and proposed
Corporate Social Responsibility
to the GMS.
158
In order that the Company’s remuneration system is in line with remuneration system best practice in the industry, the Company also uses independent consultant.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
In nominating prospective Directors, the Board of
evaluation of performance and integrity to the Board
Commissioners proposes to the Shareholder of Series
of Commissioners. Next, based on the result of Fit and
A Dwiwarna that managers one level below Directors,
Proper Test, the Board of Commissioners proposes to
based on results of their assessment, performance and
the majority Shareholder to get approval.
integrity, take fit and proper test held by Shareholder of Series A Dwiwarna and in accordance with the Company’s
Corporate Governance Committee
Articles of Association, Shareholder of Series A Dwiwarna,
The Company presently has not yet had Corporate
proposes the prospective Directors to GMS to get
Governance Committee. Nevertheless, the Company
approval.
periodically participated in assessment conducted by independent party to ensure corporate governance
In addition, to appoint the management of Subsidiaries,
implementation is carried out in accordance with the
the Directors propose the candidates based on
prevailing rules and regulations.
Human Capital Management
Committee s
The Board of Commissioners has Secretary of Board
of the Board of Commissioners among others are as
of Commissioners to support the carrying out of
follows
Board of Commissioners’ secretarial duties. Based on
1. Creating yearly/quarterly program/agenda of
Decision Letter of the Board of Commissioners No. KEP-
Board of Commissioners’ activities based on the decisions of Board of Commissioners’ meetings.
of Personnel in the Organizational Structure of Secretary
2. Creating mechanism for the implementation
of the Board of Commissioners of PT Jasa Marga (Persero)
of secretarial activities so that Board of
Tbk., the following matters have been decided:
Commissioners’ activities run smoothly.
1. Secretary of the Board of Commissioners is appointed for the period of five (5) years. 2. Staff in charge of handling Board of Commissioners’ Meetings. 3. Staff in charge for general affairs of Secretary of the Board of Commissioners, Administration and Filing.
3. Carrying out administration activities within the Board of Commissioners. 4. Holding Board of Commissioners’ Meetings and meetings between Board of Commissioners and the Shareholders, Directors as well as other
Corporate Profile
00020/I/2012 dated 10 February 2012 on the Filling out
Information for Investors
Secretary of the Board of Commissioners
related parties. 5. Providing data/information required by the Board
The duties of Secretary of the Board of Commissioners are
of Commissioners and Committees under the
to assist the Board of Commissioners in undertaking its
Board of Commissioners. Management Responsibility for Annual Report 2012
supervisory function. The detailed functions of Secretary
Constructing towards the Future
Annual Report 2012
159
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Corporate Secretary Corporate Secretary has a number of main tasks and responsibilities consisting of corporate communication either internal or external, investor relations and secretarial activities of Management of a company. The existence of Corporate Secretary is based on Bapepam-LK Regulation No. IX.I.4 on the Forming of Corporate Secretary, which is basically intended to improve the services, delivered to investors of public companies.
Management Discussion and Analysis
Management Reports
Organizational Structure of Corporate Secretary Organizational Structure of Corporate Secretary
Corporate Secretary
Corporate
Investor
Corporate
Secretariat
Relations
Communications
Department
Department
Department
The unit of Corporate Secretary consists of: • Corporate Secretariat Department • Investor Relations Department • Corporate Communications Department The duties of Corporate Secretary includes but not limited to the following activities: • Managing information related to business environment and maintaining the good relationship between the Company
Corporate Governance
and capital market supporting institutions and regulators. • Ensuring that the Company implements the GCG principles and complies with prevailing rules and regulations. • Convening General Meetings of Shareholders of the Company. • Carrying out communication activities between the Board of Directors/Management and the stakeholders in order to improve the Company’s image. • Undertaking secretarial activities of the Company’s management along with facilitating the relationship between the Company/Management and the stakeholders.
Corporate Social Responsibility
Implementation of Corporate Secretary Activities The activities conducted by Corporate Secretary throughout 2012 among others were as follows:
160
Annual Report 2012
1. Convened Annual GMS 1 time and Extraordinary GMS 2 times. 2. Carried out activities in relations to investor relations:
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PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Corp orate Sec retar y
a. Public Expose 1 time.
as Board of Commissioners and Directors’ Joint
c. Site Visit 6 times.
Meetings.
d. Non Deal Roadshow 1 time.
6. Carried out activities GCG:
e. Investor Conference 15 times.
a. GCG Self-assessment 1 time.
3. Carried out activities in relations to corporate communications:
b. GCG Assessment by independent party 1 time. 7. Conducted coordination and socialization of
a. Press Conference 15 times.
Directors’ policies and corporate internal activities.
b. Media Visit 2 times.
Human Capital Management
5. Carried out activities of Directors’ meetings as well
b. Analyst Meeting 1 time.
Work Experience of Corporate Secretary
c. Media Gathering 2 times. d. Advertorial 47 times. 4. Carried out activities in relations to stakeholders: a. Customer Gathering 1 time.
Brief work experience of David Wijayatno at the Company for the past 10 years is as follows:
and
coordination
with
State Ministry for SOEs, Ministry of Finance, Bapepam-LK, KSEI and Local Government.
Table Brief Work Experience of Corporate Secretary No. 1.
Job Title Corporate Secretary Business Project Manager for Property Development
2.
of JORR 2, BORR, Semarang-Solo and SurabayaMojokerto
Work Unit Corporate Secretary
Effective from (dd-mm-yyyy) 03-09-2012
Business Project for Property Development of Jakarta Outer Ring Road, Semarang-Solo and Surabaya-
03-05-2010
Mojokerto Corridors
3.
Senior Staff for Toll Road Development
Toll Road Development Division
15-08-2008
4.
Senior Staff for Operation Management
Operation Management Division
12-05-2008
5.
Head of Cawang-Tomang-Cengkareng Branch
Cawang-Tomang-Cengkareng Branch
29-09-2006
6.
Head of Semarang Branch
Semarang Branch
30-06-2006
7.
Head of Services and Maintenance Department
Padaleunyi-Citarum Branch
04-12-2002 Management Responsibility for Annual Report 2012
Profile of Corporate Secretary is available on page 258
Corporate Profile
c. Communication
Information for Investors
b. Socialization of Internal Policies.
Constructing towards the Future
Annual Report 2012
161
PT Jasa Marga (Persero) Tbk.
Internal Auditing Unit
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
The function of Internal Audit at Jasa Marga is carried
important role in enforcing SPI’s role and responsibilities
out by Internal Auditing Unit (Satuan Pengawasan Intern
as well as basis of existence and implementation of
– SPI), which is led by Head of Internal Auditing Unit
supervisory duties. The Internal Audit Charter is therefore
appointed and dismissed by the President Director with
disclosed to be recognized by all employees and other
the approval from the Board of Commissioners.
related parties so that there is mutual understanding and cooperation in realizing the Vision, Mission and
In conducting Internal Audit, SPI is always positioned
Objectives of the Company.
Corporate Social Responsibility
as Management’s strategic partner that is trusted,
162
professional, objective, and independent. The Company
The Company has Internal Audit Charter since 01 March
is certain that this, accompanied with increasing
2003, and on 28 May 2009, the charter was revised
effectiveness of risk management, well-controlled and
in accordance with prevailing regulations of Bapepam-
processed of good corporate governance, will give added
LK. Internal Audit Charter is reviewed and perfected
value and in the achievement of the Company’s goals.
periodically.
Work Guidance for Internal Auditing Unit
The contents of Internal Audit Charter are as follows:
In conducting its duties, SPI is equipped with Work
• Definition of Internal Audit.
Guidance called Internal Audit Charter that is decided
• Mission of Internal Auditing Unit.
based on Decision of the Directors. Apart from serving
• Structure and Position of Internal Auditing Unit.
as work guidance, Internal Audit Charter also plays an
• Duties and Responsibilities of Internal Auditing Unit.
Annual Report 2012
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PT Jasa Marga (Persero) Tbk.
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Corporate Governance In tern al Auditing Unit
• Authorities of Internal Auditing Unit. • Code of Ethics for Auditors of Internal Auditing Unit. • Requirements for Auditors of Internal Auditing Unit. • Prohibition to Hold Dual Positions. In addition to improvement of the standard used, SPI also refers to Annual Audit Work Program (Program Kerja Audit Tahunan – PKAT) and uses the approach of Risk-Based Audit.
Code of Ethics for Auditors (Internal Auditing Unit) In carrying out its functions and tasks, apart from complying with the Company’s prevailing Code of Conduct in general,
Human Capital Management
• Accountability of Internal Auditing Unit.
SPI also has Code of Ethics for Auditors, which is stated in Internal Audit Charter, and consists of among others: 1. Internal auditors must have integrity, objectivity, and seriousness in carrying out the duties and fulfilling the responsibilities of their profession. 2. Internal auditors must control themselves from activities that may cause conflicting interest with their organization; or of their profession objectively. 3. Internal auditors are not allowed to take compensation in any forms from employees, clients, customers, suppliers and business partners of their organization as it may influence their professional judgments. 4. Internal auditors must make every effort so that they always fulfill Internal Audit Professional Standard. 5. Internal auditors must be prudent and wise in using information obtained in the implementation of their duties. Internal auditors are not allowed to use confidential information: (i) to gain personal benefit; (ii) illegally; or (iii) that may cause loss for their organization.
Information for Investors
activities that may cause prejudice that doubts their capability to carry out the duties and fulfilling the responsibilities
6. Internal auditors must continuously advance their expertise and effectiveness as well as quality in the carrying out of their duties. Internal auditors are obligated to participate in continuous professional education.
At present, the Head of Internal Auditing Unit is Djoko Dwijono, who has been occupying the position since 2008 based on the Decision of the Directors No. 054/AA.P-6a/2008 dated 15 August 2008. Head of Internal Auditing Unit is assisted by one Department Head and auditors, as follows: • Head of Planning and Reporting Department.
Corporate Profile
Head of Internal Auditing Unit
• Auditors.
Structure of PT Jasa Marga (Persero) Tbk.
Organizational Structure of Internal Auditing Unit Internal Auditing Unit
Planning and Reporting Department
Program Control and Administration Sub Department
AUDITOR
Group of Senior Staff
Management Responsibility for Annual Report 2012
Organization of Internal Auditing Unit is decided in the Decision of Directors No. 194/KPTS/2009 on Organizational
Group of Staff
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Annual Report 2012
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PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Internal Auditin g Uni t
Duties and Responsibilities of Internal Auditing Unit
Results of SPI Audit
The role of SPI is to make sure of and provide independent
submitted to President Director and recommendations
and objective consulting for the Management in order
from audit results are considered and referred to in
to boost the creation of added value and improve Jasa
implementing the follow ups. Simultaneously, report
Marga’ business operation. Referring to the Audit Charter,
of audit results is also submitted to Audit Committee.
Report on results of audit carried out by SPI has been
Management Reports
the tasks and responsibilities of Internal Auditing Unit are as follows:
Other Audit Supporting Activities
• Planning and carrying out Annual Audit Work Program.
In addition to its routine activities, SPI has improved
• Testing and evaluating the implementation of internal
the audit management by using computer application
control and risk management system in accordance
(Audit Management System) and each auditor
with the Company’s policy.
participates in continuous professional education to
• Conducting audit and assessment on efficiency and
Management Discussion and Analysis
effectiveness in the area of finance, accounting, operation, human resources, information technology
Evaluation of SPI Performance
and other activities.
The performance of SPI is measured and assessed
• Providing corrective advice and objective information
from the achievement of Key Performance Indicators
to all level of management concerning all audited
(KPI). There are 13 indicators that are measured and
activities.
assessed yearly and are the form of management
• Making report on audit results and submitting the
contract between the Head of SPI and the Directors.
said report to President Director and the Board of
SPI’s major indicators in KPI are as follows:
Commissioners.
• Implementation of Audit Plan.
• Monitoring, analyzing and reporting the follow-up activities further to the corrective advice given.
• Implementation of followed up recommendations. • Achievement of SPI Work Programs.
• Working together with Audit Committee.
• Audit Request from the Management.
• Designing program to evaluate the quality of internal
• Timeliness of Final Report Issuance.
audit activities conducted. Corporate Governance
qualify Internal Audit Professional Standard.
• Efficiency of SPI cost.
• Conducting special audit whenever necessary.
Implementation of Internal Auditing Unit Activities in 2012
To guarantee the recommendation follow ups, SPI has proposed a control mechanism through Instruction of the Directors on Auditees’ Obligation to report the
Annual Audit Work Program (Program Kerja Audit Tahunan
follow up of SPI’ recommendations at the end of every
– PKAT) 2012 that has been decided and carried out was
quarter to the President Director.
Corporate Social Responsibility
as follows:
164
• 6 Units at Head Office
Until the end of 2012, SPI has 16 personnel, 8 of whom
• 9 Units of Branch Office
have Qualified Internal Auditor (QIA) certification.
• 3 Units of Project Office • 1 Unit of Special Purpose Audit
Annual Report 2012
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PT Jasa Marga (Persero) Tbk.
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Corporate Governance In tern al Auditing Unit
The Company continuously improves competencies of SPI personnel by conducting auditors’ competency development program systematically and gradually. In general, the policy of competency development in 2012 was implemented in two ways, namely competency development at external institutions and competency development internally. Competency development organized by the Company as well as external institutions was carried out through formal trainings in form of courses or seminar/workshop in relation to the issues of audit. In 2012, SPI personnel have participated in audit training as follows:
Human Capital Management
Competency Development of SPI in 2012
Table List of Training for SPI Personnel in 2012
Seminar on COSO Seminar on Managing Clean and Free from Corruption SOEs Protecting Through Alliance: Enforcement of Governance, Risk and Control in Company through Assurance Providers Alliance Education on Audit for Level I Certification Education on Audit for Level II Certification Education on Audit for Advanced Certification Sharing Knowledge on Whistleblowing System
- Perhimpunan Auditor Internal Indonesia) Internal Audit Education Foundation (YPIA – Yayasan Pendidikan Internal Audit)
14 11
Center for Risk and Investment Studies
1
Indonesia Training Institute
1
Internal Audit Communication Forum (FKSPI – Forum Komunikasi Satuan Pengawas Internal) for SOEs/BUMD (local government-owned
3
enterprises) Internal Audit Education Foundation (YPIA – Yayasan Pendidikan Internal Audit) Internal Audit Education Foundation (YPIA – Yayasan Pendidikan Internal Audit) Internal Audit Education Foundation (YPIA – Yayasan Pendidikan Internal Audit) Internal Audit Education Foundation (YPIA – Yayasan Pendidikan Internal Audit)
2 1 1 10
The Plan to Change the Organizational Structure of Internal Auditing Unit In view of increasing objects and complexity of activities of internal audit as well as existing business process and organizational structure, the Company plans to revise the organizational structure of Internal Auditing Unit, due to several reasons, as follows: • Adjustment with the trend of paradigm of SPI in conducting main function of reasonable assurance and internal consulting, as well as implementation of risk-based audit. • SPI’s position as counterpart of every activity of external auditors and, naturally, the partner of Audit Committee. • Issues in handling and monitoring follow ups of audit results (including follow ups of recommendation from external auditor). • Use of audit facility (Audit Management System) to ease management of audit results and audit finding analysis.
Constructing towards the Future
Corporate Profile
Seminar on National Internal Audit
Association of Internal Auditors Indonesia (PAII
Annual Report 2012
Management Responsibility for Annual Report 2012
Round Table Discussion
Number of Jasa Marga Participants
Organized by
Information for Investors
Training Subject
165
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Internal Auditin g Uni t
• Development of audit resources at SPI towards more directed auditor development (particularly as a consequence of auditor competency demands at public company based on Bapepam-LK regulations), including the management of actual audit reference and standard. • Commitment of the Company to implementing whistleblowing system (WBS) in which SPI has major role. • Support in conducting audit and increase of awareness at the Company to carry out risk-based internal control, and
Internal Control System The implementation of internal control system carried
The Directors implements effective internal control
out by Jasa Marga refers to Article 26 of the Regulation
system to secure the Company’s investment and
of the State Minister of State-Owned Enterprises No.
assets. The scope of the Company’s internal control
PER-01/MBU/2011 on Good Corporate Governance
is carried out with high discipline and integrity,
Implementation at State-Owned Enterprises.
well structured, ethical values and employees’ competencies.
The Board of Commissioners implements internal control by conducting supervision and giving advice
As part of the Company’s internal control system,
in relation to the sufficiency and fairness of financial
in carrying the audit duties, SPI uses the internal
reporting and risk management, while observing
control system of COSO (Committee of Sponsoring
the principle of prudency, with the assistance of
Organization
Audit Committee and Business Risk and Investment
framework.
166
of
the
Treadway
Commission)
Committee. Meanwhile, Directors implement internal control system by means of implementing policies
COSO framework is used to evaluate existing
and procedures of the Company consistently and in
internal control system. Audit results (findings and
comply with prevailing rules and regulations, among
recommendations) are categorized into five (5)
others, in relation to the Company’s business activities
components of COSO (Control Environment, Risk
and risk management, strategic plans, distribution of
Assessment, Control Activities, Information and
tasks, delegation of authorities, as well as sufficient
Communication, and Monitoring); hence highly
accounting policy.
support the activities of improving and perfecting the Company’s internal control system.
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
gradually perform Control Self-Assessment (CSA).
Annual Report 2012
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www.jasamarga.com
As part of the Company’s determination to implement Good Corporate Governance, Jasa Marga continuously improves and refines its management system. The of
Risk
Management
becomes
inseparable part in achieving the Company’s performance target and good corporate governance implementation. Risk Management is carried out by means of systematic, structured and integrated approach to anticipate uncertainty or possible loss in the running of the Company in the fields of operation, investment, finance, human resources, and others.
In 2007, Jasa Marga started the implementation of Risk Management system with the basis of AS/NZS 4360:1999 standard, which was decided by Decision Letter of the Directors No. 139/KPTS/2007. In 2008, the Company conducted review on AS/NZS and the new standard of ISO 31000:2009 began to be implemented. The ISO 31000:2009 on Risk Management is the standard for the design of risk implementation and maintenance in the entire parts of the organization, hence enabling
With the Vision and Mission to become the leader in toll road industry, Jasa Marga adopts modern management system and technology to always improve its competitiveness. One of the most significant elements in modern management is risk management. In view of toll road business as a large investment with long-term return and high level of uncertainty during the period of construction and operation, the implementation of risk management then becomes more essential in Jasa
the implementation of integrated Risk Management (Enterprise Risk Management), in accordance with the Company’s plan to develop Risk Management of the Company in RJPP (corporate long-term plan) of 20082012. Jasa Marga’s journey in implementing Risk Management is shown in the Roadmap of Jasa Marga Risk Management System Development as follows:
Information for Investors
implementation
Jasa Marga’s Journey in Implementing Risk Management at the Company
Human Capital Management
Risk Management Report
Marga’s business activities.
Corporate Profile
Diagram Roadmap of Jasa Marga Risk Management System Development
RJPP (Corporate Long-Term Plan) TARGETS
GAP
11 Principles of ISO 31000 : 2000
INTEGRATED WITH OTHER PROCESSES IMPLEMENTATION & MONITORING
The Company is prevented from the Risk of Loss
ROAD MAP 2007 - 2011
RISK CULTURE
PROCESS OF CHANGE MANAGEMENT
2012
2013
Constructing towards the Future
2014-2016
Annual Report 2012
Management Responsibility for Annual Report 2012
Result of Risk Maturity Level
All strategic decisions consider risk analysis result
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PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance R isk M a n a g e m en t Repor t
Risk Management Policies Jasa Marga Risk Management Policies are regulated by the Decision of the Directors of Jasa Marga No. 129.2/ KPTS/2010 on Risk Management Policies and Risk Management Manual at PT Jasa Marga (Persero) Tbk. dated 22 July 2010. The decision of the Company’s Risk Management policies serves as basic reference in order to achieve the Company’s long-term targets and represents the realization of the commitment to integrated and wide implementation of risk management within the organization in order to support the certainty in the achievement of the Company’s long-term target as well to provide systematic and measurable framework of risk management implementation in accordance with
The risk management policies having been signed by all Directors shows their commitment, seriousness and awareness of the importance of risk management in the Company’s sustainability and target achievement.
Corporate Governance
Management Discussion and Analysis
Management Reports
international requirements.
Corporate Social Responsibility
The objectives of implementing Risk Management at Jasa Marga are as follows:
168
1. Improving awareness of the existence of impact from business activities and actions as well as influence of external factors containing risks. 2. Reducing the frequency of potential hazardous incidents. 3. Minimizing potential loss as an impact caused by such incidents.
Annual Report 2012
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Corporate Governance Ri s k Man ag ement Repor t
Structure of Risk Management Governance governance is therefore created, to enable everybody’s role in developing, managing and ensuring the implementation of risk management. Risk Management Governance at Jasa Marga is as follows: 1. Board of Commissioners. 2. Directors. 3. Business Risk and Investment Committee. 4. Risk Management Committee, chaired by Finance Director.
Human Capital Management
The Company realizes that risk management must be implemented at all levels. The structure of risk management
5. Corporate Risk Management Evaluation (EPRP – Evaluasi Pengelolaan Risiko Perusahaan) Team. 6. Risk Owner (Heads of Bureau/Division/Branch/Unit). 7. Risk Officer (the facilitators in conducting assessment).
Information for Investors
8. Risk Assessor (the person conducting assessment at each working unit). The Structure of Risk Management Governance at Jasa Marga is as follows: Diagram Structure of Risk Management Governance at Jasa Marga
Business Risk and Investment Committee
Board of Commissioners
Corporate Secretary
Projects
Subsidiaries
Divisions
Branches
Bureaus
Risk & Quality Management Unit
Risk Officer
Risk Officer
Risk Officer
Risk Officer
Risk Officer
Risk Officer
Risk Assessor
Risk Assessor
Risk Assessor
Risk Assessor
Risk Assessor
Risk Assessor
EPRP Team
BUSINESS RISK AND INVESTMENT COMMITTEE: chaired by Commissioner with professional members. RISK MANAGEMENT COMMITTEE: chaired by Director; the members are Head of Corporate Planning Bureau, Head of Toll Road Business Development Division, Head of Other Businesses Development Division, Head of Operation Management Division, and Head of Accounting and Finance Bureau; the Secretary is Head of Risk and Quality Management Bureau.
Constructing towards the Future
Corporate Profile
Risk Management Committee
Directors
Management Responsibility for Annual Report 2012
Internal Auditing Unit
Annual Report 2012
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PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance R isk M a n a g emen t Repor t
The Framework of Risk Management at Jasa Marga is the development of the Risk Management principles providing the basis and organization management and encompassing the entire activities in all levels at the Company. The Risk Management Framework at Jasa Marga is shown in the following scheme: Diagram Risk Management Framework at Jasa Marga
Management Reports
Mandate & Commitment
Management Discussion and Analysis
Planning of Risk Management Framework:: 1. Understanding organization and its context 2. Risk Management Policies 3. Integration with the Company’s business processes 4. Risk Bearer 5. Resources 6. Creation of Reporting and Communication Mechanism
Corporate Governance
Continuous Improvement
Risk Management Preparation
Monitoring and Review
The Risk Management Framework encourages the carrying out of effective Risk Management by implementing Risk Management process at various levels of the organization and in specific contexts of the Company. Risk Management Framework is basically a management system
Corporate Social Responsibility
with system structure that forms PDCA (Plan, Do, Check, Action) cycle, in order to ease the integration of Risk Management system with other management systems of the Company. To support the effectiveness of Risk Management implementation, in 2012, Jasa Marga has created the procedures consisting of among others as follows: a) Procedure for Risk Management (PK/PR/01-BMMR). b) Procedure for Creating RPR (PPR PK/PR/02-BMMR). c) Procedure for Monitoring Risk Mitigation Implementation (PK/PR/03-BMMR). d) Procedure for Creating the Company’s Risk Profile (PK/PR/04-BMMR). e) Procedure for Documenting and Reporting (PK/PR/05-BMMR). f) Procedure for Evaluating Risk Event (PK/PR/06-BMMR). g) Procedure for Creating Risk Register (PK/PR/07-BMMR). 170
Annual Report 2012
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Corporate Governance Ri s k Man ag ement Repor t
The Company’s Risks level of the organization, both corporate and business unit, must then implement risk management by considering priority and benefit of each work program/project for the Company’s sustainability. With risk-based work and budget plan (RKAP), the programs carried out in 2012 are expected to give meaningful contribution to the target achievement and sustainability of the Company. Jasa Marga divides the risk into three (3) levels, namely high, moderate, and low. Risk identification for the year 2012 was carried out in accordance with objectives and targets in achieving corporate work and budget plan (Rencana Kerja dan Anggaran Perusahaan – RKAP) of 2012, which divided the risk into four (4) aspects described as follows:
Human Capital Management
In line with the commitment of Jasa Marga Directors to implementing effective and efficient risk management, each
Risk Profile of the Company in 2012 for Operational Aspect Table Risk Profile of the Company in 2012 for Operational Aspect Risk Mitigation 1. Carrying out additional lane program.
1.
Road capacity and toll gate capacity is insufficient.
2. Widening ramp. Increase in volume of vehicles is higher than expected.
3. Adding toll booth. 4. Widening outer shoulder. 5. Increasing lane capacity. 6. Constructing toll booths.
2.
SPM is not accomplished.
1. Pavement life span. 2. Overload. 3. High intensity of rain. 4. Worn out road surface.
Scrapping, Filling, Overlay.
Road marking theft.
Carrying out routine inspection of road marking.
Damage by people residing in toll road surroundings demanding access to cross.
Giving counseling and understanding on toll road regulations.
Lane capacity is insufficient compared to the number of vehicles.
1. Replacing toll equipment. 2. Implementing 21 units of automated toll booth for e-Toll Card in 2012.
Heavy vehicle has accident and is difficult to move.
Preparing heavy equipment (multi-purpose vehicle, forklift, and crane).
Unable to monitor real time traffic condition or accident.
Adding 10 units of CCTV in 2012.
3.
Landslide
Steep slope/high embankment area.
1. Stabilizing slope with bored pile. 2. Improving drainage system and water reservoir.
4.
Construction damage.
1. Bridge/toll gate life span. 2. Maintenance and replacement is not fulfilled.
1. Renovating toll gate. 2. Strengthening bridge.
Constructing towards the Future
Annual Report 2012
Information for Investors
Cause
Corporate Profile
RIsk
Management Responsibility for Annual Report 2012
No.
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PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance R isk M a n a g e m en t Repor t
No. 5.
RIsk
Cause
Risk Mitigation 1. Installing concrete fence on toll roads.
Fences are removed by surrounding people.
Crime.
2. Installing concrete barrier and guardrail. 1. Carrying out river dredging program.
1. Mud/trash in water channel.
Management Reports
6.
2. Installing water pump and cleaning/dredging
2. High intensity of rain, more
Flood
than normal volume.
water channel. 3. Coordinating with related parties.
3. Continuous heavy rain.
4. Monitoring dike condition. 5. Preparing scenario of traffic diversion.
Risk Profile of the Company in 2012 for Financial Aspect Table Risk Profile of the Company in 2012 for Financial Aspect No.
RIsk
Cause
Risk Mitigation
Management Discussion and Analysis
1. Synchronizing fund
1.
Covenants of DER and ICR in loan
1. Taking loan too fast.
requirements of Working
2. Taking loan too large and not
Unit to obtain correct time
agreement exceed the limit.
in accordance with required amount.
and amount. 2. Taking fixed-rate loan for 1 year.
2.
Weighted Average Cost of Debt
Increase in interest rate due to
(WACD) is above 12.5%.
macroeconomic condition.
Risk Profile of the Company in 2012 for Information Technology Aspect Table Risk Profile of the Company in 2012 for Information Technology Aspect No.
RIsk
Cause
Risk Mitigation
Corporate Governance
Cooperating with consultant or service provider of information 1. Physical damage of ERP The service of ERP transaction 1.
is delayed more than 4 days and user management process is delayed more than 2 days.
technology related to ERP
transaction equipment
application for working unit
(network or server).
application, application maintenance
2. Person in charge of solving
and support during application
problem is not available (on
operation (functioning as second
leave, sick, etc.).
layer support that relates to helpdesk team/first layer support of
Corporate Social Responsibility
the Company).
172
2.
3.
4.
External hacker breached
The security of enterprise portal
Improving security setting related to enterprise portal.
enterprise portal.
network is not yet maximized.
Server Room along with the
1. Natural disaster.
equipment within (cabling
2. Damage caused by other
structure and device
factors such as human error or
infrastructure) is out of order.
short circuit
DRC System is unusable during disaster.
Annual Report 2012
1. Building redundancy in relation to Server Room, i.e. DRC. 2. Backing up data periodically. Cooperating with vendor that
Failure in system failover process.
provides SLA of handling failover failure of maximum 12 hours.
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Ri s k Man ag ement Repor t
Risk Profile of the Company in 2012 for Human Resources Aspect Table Risk Profile of the Company in 2012 for Human Resources Aspect
2.
Risk Mitigation
Employees are not comfortable with the decision of change in organizational structure and new job description in short term.
Organizational structure is still in the short term stage and clarifies job description with clear responsibilities and targets, while some employees were previously accustomed to work without clear target and job competencies.
1. Forming counterpart team by involving
Complaint or protest from outsourced (OS) labors.
1. Head Office has not yet
1. Creating guidance on standardized contract
produced guidance on
working unit. 2.
Conducting socialization to employees.
and remuneration.
standardized contract for
2. Creating policy for placing OS labors.
OS labors hence causing
3. Increasing expenses for minimum wage
differences in protection on wage and welfare. 2. Increase in minimum
adjustment. 4. Conducting socialization to working unit that uses the services of OS labors.
wage exceeds Jasa Marga budget plan. 3.
Directory of organization competencies does not suit the present business requirements.
Identification and clarification 1. Conducting periodical review to be adaptive to change in policies. is inaccurate in relation to change in corporate long2. Conducting socialization to employees. term plan or new policies.
4.
Job formation is not fulfilled as targeted.
1. KPI for formation
1. Advancing competencies of human
fulfillment is not
resources through development and
achieved.
training.
2. Organization becomes
2. Reviewing organization formation adaptively.
less effective. Demand from employees and retirees on health service system.
1. Retirees’ health expenses 1. Improving employees and retirees’ health are born directly by the Company. 2. Institution and health service system for
system by cooperating with consultant. 2. Conducting intensive communication with labor union and retirees union. 3. Conducting socialization to employees.
employees and retirees is not yet decided.
Management Responsibility for Annual Report 2012
5.
Human Capital Management
Cause
Information for Investors
1.
RIsk
Corporate Profile
No.
Constructing towards the Future
Annual Report 2012
173
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
Corporate Governance
174
R isk M a n a g e m en t Repor t
Risk Profile of the Company in 2012 for Development Aspect Toll Road Development Aspect
Table Risk Profile of the Company in 2012 for Toll Road Development Aspect No.
1.
2.
3.
RIsk
Cause
Risk Mitigation
Investment is delayed.
1. Proposing transitional regulation enabling partial use of the provisions in land acquisition. 1. Land acquisition is 2. Conducting individual approach to land owner. delayed. 3. Accelerating land acquisition by increasing 2. Procurement of coordination intensity. construction service is 4. Accelerating review on geology and geophysics delayed. carried out by LAPI ITB. 3. Joint agreement between 5. Ceasing the process of approval of ROW Plan and the party that will sell the SP2LP when there is fixed decision on the change in shares and Jasa Marga route to the one proposed by BPLS. is delayed. 6. Conducting intensive discussion and making decision promptly for the benefits of both parties.
Traffic forecast for new toll roads is not achieved.
1. Policy for road network system is inconsistent. 2. Implementation of policy for spatial plan is inconsistent. 3. System and modes of transportation is not integrated. 4. Result of feasibility study and traffic survey is of low quality.
1. Re-reviewing business plan in the aspect of operating expenses. 2. Conducting discussion with Central and Local Government on determining local road network system as well as regional development that support toll road access. 3. Re-reviewing toll road accesses. 4. Making use of toll road corridors for other businesses that generate traffic.
Agreement in share price with the selling party is not reached.
1. Making binding MoU stating that results of due diligence and appraisal is final and binds both parties. 2. Selecting competent consultant. 3. Forming joint counterpart (Jasa Marga and the previous investor) during due diligence process.
Results of due diligence does not recommend acquisition.
Conducting preliminary identification prior to due diligence.
Results of due diligence and appraisal are inaccurate.
1. Empowering team of consultant for due diligence by forming internal and/or external counterpart team. 2. Selecting consultant that is competent and has data access to the previous investor or other sources.
Acquisition is unsuccessful.
4.
1. FS and AMDAL consultants are Potential negative incompetent. influence on the 2. Incompetent consultants environment. bid low hence win the tender.
5.
The cost of toll road development increases.
Partner has not yet approved negotiation result to fulfill the payment requirement as the next process.
Encouraging and ensuring that business partner approves the payment claimed.
6.
Construction investment is lost.
1. Natural disaster. 2. Land subsidence.
1. Proposing to include compensation of construction cost in the decision of tariff increase. 2. Reviewing the environment of toll road surroundings.
Annual Report 2012
Constructing towards the Future
1. Coordinating intensively with related environmental institutions. 2. Creating qualification evaluation method that weighs technical aspect higher than price.
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Ri s k Man ag ement Repor t
Table Risk Profile of the Company in 2012 for Other Businesses Development Aspect Cause
1.
Non-toll road The number of revenues target is advertisements decreases. not achieved. Payment of rent from tenant, compensation for land use from tenant and revenue sharing from partner is delayed.
1. Promoting fuel selling.
2. Cooperating with bus and truck companies. 3. Improving supporting facilities. 4. Beautifying the appearance of commercial area. 1. Simplifying the procedures for placing advertisement. 2. Determining rent price based on market capability. 1. 2. 3. 4.
Evaluating the agreed contract of land use. Collecting payment intensively. Enforcing the content of cooperation agreement. Reviewing cooperation agreement.
2.
Contract for bridge operation and maintenance is not acquired.
The price offered is inappropriate due to unclear tender document for toll road operation from the government.
1. Preparing the administration for proposal of bridge operation tender according to criteria proposed in the tender. 2. Preparing supporting data or solid explanation should there be a negotiation of the price proposal.
3.
Target of revenues of Subsidiaries is not achieved.
In the aspect of toll road maintenance at Subsidiaries, the personnel are less competent and job formation is not completely filled.
Standardizing corporate quality in the field of toll road maintenance consisting of human resources, finance, OSH, etc.
4.
Competency of partner for property development in toll road corridors is inappropriate.
1. Prospective business partners for property development plan are limited. 2. Business plan for property development plan is inaccurate.
1. Coordinating with business partner to find out the progress of its internal readiness. 2. Using highest and best use consultant for competent studies of feasibility and land use of property development.
Construction is delayed.
1. Business partner faces constraints in land acquisition. 2. Contractor is less competent in constructing TIP (rest and service areas). 3. Supervision from supervision consultant is insufficient.
1. Monitoring the progress of land acquisition carried out by business partner. 2. Assuring the selection of contractor experienced in constructing TIP. 3. Using competent supervision consultant.
5.
Constructing towards the Future
Annual Report 2012
Information for Investors
Selling of fuel does not meet target.
Risk Mitigation
Corporate Profile
RIsk
Management Responsibility for Annual Report 2012
No.
Human Capital Management
Other Businesses Development Aspect
175
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance R isk M a n a g emen t Repor t
No.
Management Reports
Cause
Possibility that during design and construction stages, actual cost of the project will exceed the estimation.
2. Cost of material increases.
3. Additional cost due to contractor’s errors. 4. Contingency (a future event or circumstance that is possible but with certainty).
Continuous Risk Management Development Management
Socialization,
post “Go or No-Go”, through presentation delivered by guest speakers and discussions between/among participants.
Knowledge
Sharing, Trainings and Certifications In order to advance the competencies in Risk Management, Jasa Marga conducts socialization to each working unit, seminars and knowledge sharing of Risk Management. Jasa Marga is one of alumni of CRMS (Central Risk Management Studies) that organizes Roundtable Risk Management every six (6) months for alumni and other participants. Roundtable Risk Management is the forum for exchanging experiences and knowledge among practitioners and professionals in the field of risk management in Indonesia, particularly in order to enhance expertise
In conducting knowledge sharing in risk management, Jasa Marga takes part in initiating and cooperates with CRMS. The first Roundtable Risk Management took place at Jasa Marga on 06 June 2012 with the theme “Go” or “Not Go” Risk Decision Project.
To enhance the Company’s risk management competencies, Jasa Marga has also conducted trainings and seminars as well as certifications of risk management that were carried out both internally and externally.
and knowledge in how to manage risk of the project
Corporate Social Responsibility
Corporate Governance
1. Applying fixed-price contract for material supplies of construction. 2. Regulating contingency in the contract.
cannot be predicted
1. Risk
176
Risk Mitigation
1. Construction cost estimation is incorrect.
6.
Management Discussion and Analysis
RIsk
Ri sk M a n a g emen t Soci a l i z ati o n
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Ri s k Man ag ement Repor t
Table Risk Management Trainings, Seminars and Certifications
1.
Socialization of Risk Management Manual (Decision Letter of the Directors No. 139/ KPTS/2007).
2007, 2008
All Working Units, Business Units and Projects
2.
Training on Project Risk Management, Seminar on Risk Management.
2009
Personnel of Risk and Quality Management Bureau
3.
Training on Risk Management for Risk Officers in Meeting of RKAP (work and budget plan) 2011.
2010
Risk Officers
4.
Seminar on Fundamental Risk and Risk Management Certification (ERMCP/LPSMR).
2010, 2011, 2012
Personnel of Risk and Quality Management Bureau
5.
Training on Risk Management for Risk Owners and Risk Officers.
2011
Heads of Working/Business Units and facilitators of risk management at each unit and EPRP Team
6.
Workshop on Creating Risk Register.
2012
Facilitators of risk management at each unit, Risk Assessors, and EPRP Team
7.
Socialization of Procedure for Risk Management and Risk Management Clinic in Creating RKAP (work and budget plan) 2013.
2012
Branch Offices, Head Office, and Projects
2. Integration of Risk Management to the Entire
Human Capital Management
Participants
out risk mitigation in accordance with the procedure
Business Process of the Company
for monitoring risk mitigation implementation No.
a. Each of the Company’s strategic decision
PK/PR/03-BMMR as follows:
making must consider risk as inseparable part of the decision making process. b. In business investment, risk assessment is then united with the process of business feasibility analysis; hence the decision making process has included the risk as well as its mitigations. c. The implementation of Risk Management covers
a. Risk mitigation implementation. 1) Work/Business Unit carry out risk mitigation from RPR and PPR RJP, RKAP and KPI approved by the Directors. 2) If there is a change in RJP/RKAP, each Unit Work/Business Unit is then required to conduct re-assessment and create Change
all Business Units and Working Units in carrying
in Risk Management.
out business process and work program,
b. Monitoring of Risk Management.
therefore each Business Unit and Working Unit creates Risk Management Plan during the time
1) Monitoring implementation includes: a) Continuous monitoring by risk owners
of making plan of work, program and budget for RKAP.
carried out daily. b) Monitoring by head of work/business
d. The process of Risk Management, particularly the implementation of risk mitigation is
unit periodically. c) Monitoring through internal and external
inseparable from the implementation of work program as implementation of risk mitigation is
audit periodically. d) Investigation of events or incidents in
intended to ensure the achievement of targeted program according to plan.
relation to Risk Management. 2) Every July and January, Heads of Work/ Business Unit are to report the progress
3. Realization of Risk Mitigation Program
of
To follow up the procedure for creating Risk
the Directors through Risk and Quality
Management Plan (Rencana Pengelolaan Risiko –
Information for Investors
Years
Corporate Profile
Training/Seminar
risk
mitigation
implementation
to
Management Bureau.
RPR) and Change in Risk Management (Perubahan
c. Risk and Quality Management Bureau evaluates
Pengelolaan Risiko – PPR) No. PK/PR/02-BMMR,
and documents the effectiveness of Risk
each work/business unit is then required to carry
Management implementation.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
No.
177
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance R isk M a n a g e m en t Repor t
Chart Realization of Risk Mitigation 100-
80-
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
20 10
20 11
20 12
20 09
Realization
100
94
92
88
89
Target
100
70
85
85
80
20 08
Management Reports
60-
4. Effectiveness of Risk Management
Management Bureau at corporate level and Risk
Implementation at Jasa Marga
Owner and Risk Officer at Business/Working
To guarantee the implementation of effective Risk Management that supports the performance of
b. Risk Management system stated in Risk
organization, Jasa Marga, in cooperation with
Management Manual is considered updated
independent, has measured the level of Risk
as it is based on ISO 31000 : 2009 Risk
Maturity in Risk Management consultant, for the
Management – Principles, Framework, and
purpose of obtaining description of maturity level of
Process.
Risk Management implemented, as well as giving
c. The efforts to integrate Risk Management
directions and feedbacks for improvement. In view
process with business process have begun
of the above, the Company has conducted among
(still in the process of development) by making
others the following activities:
applicable risk assessment process in the
a. Determining performance measurement of
process of creating design program of RKAP.
Risk Management implementation in line and
d. At operational level, Risk Management process
integrated with performance measurement of
has started to be implemented at each working
RKAP implementation.
unit in accordance with the provision in Risk
b. Evaluating Risk Management implementation
Management Manual, and is documented in Risk Management Plan (RPR).
periodically. c. Re-reviewing Risk Management system along
e. Since 2010, the Company has implemented
with its elements periodically, in relation to
performance management based on corporate
most recent development in both internal and
KPI that is breakdown into KPI of Working Unit
external contexts of the Company.
(Division/Bureau and Branches), including KPI
d. Assuring compliance of implementation of Risk Management framework along with its entire
in the aspect of Risk Management. f. Communication and consulting related to risk information is accommodated in Risk
elements.
Management Committee forum. Results of Measurement of Jasa Marga Risk
g. To improve effectiveness of risk evaluation
Maturity Level:
mechanism, Risk and Quality Management
a. Risk governance has been developed and it is
Bureau
marked with the forming of Risk and Quality
178
Unit level.
Annual Report 2012
Constructing towards the Future
is
assisted
by
Corporate
Management Evaluation Team.
Risk
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Ri s k Man ag ement Repor t
Level 3 Managed
LEVEL 1 Ad Hoc
Level 2 Initial
Table Results of Measurement of Jasa Marga Risk Maturity Level Based on the Indicators No.
Indicator
Skor
Maturity Level
1.
Culture
2.10
Initial -> Managed
2.
System
3.25
Managed -> Expert
3.
Skill
2.00
Initial -> Managed
4.
Aplication
2.43
Initial -> Managed
2.44
Initial -> Managed
Final Score
Information for Investors
Level 4 Expert
Human Capital Management
Diagram Maturity Level of Risk Management
Profile of Risk and Quality Management Bureau Head
Management Responsibility for Annual Report 2012
Corporate Profile
Brief profile of Head of Risk and Quality Management Bureau is available on page 259.
Constructing towards the Future
Annual Report 2012
179
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Material Litigation Material Litigations represent legal matters faced
None of the cases were related to the Company’s
by the Company during the period of the report and
Board of Commissioners and Directors.
they have been filed for legal process through both Court and Arbitration. Amount Sued represents the
Based on the types of Merits of Case, material
amount of compensation sued against the Company
litigation of the Company is categorized as follows:
Management Reports
as the defendant or amount of compensation sued by the Company as the plaintiff, for both material and
Land Litigation
immaterial losses.
As a company in the business of toll road development
Litigation Faced by the Company
and operation, the Company oftentimes deals with litigations on land as both the defendant and co-
In 2012, the Company faced 32 litigations whose
defendant as well. Of the total 26 land cases the
settlement was processed in District Court, High Court,
Company dealt with in 2012, five (5) cases of land
Supreme Court, as well as Indonesia National Board of
with the highest sued amount are as follows:
Arbitration (Badan Arbitrase Nasional Indonesia – BANI).
Corporate Governance
Management Discussion and Analysis
CASE OF ACINTYA ANGGITA DEWI Case No.
:
1116 K/Pdt/ 2011
Institution
:
Supreme Court
Parties
:
Plaintiff
:
Acintya Anggita Dewi
Defendant I
:
Bina Marga, Department of Public Works
Defendant II
:
Jasa Marga
Defendant III
:
BPN (National Land Agency) of South Jakarta
Defendant IV
:
Mayor of South Jakarta
Defendant V
:
Hidayat Nur Utomo
Defendant VI
:
Tjoeng Andi Anthony
Defendant VII
:
Poltak Hasudungan Malauw
Defendant VIII
:
Abdullah Jufri
Amount Sued
:
Rp 90,625,600,000 (ninety billion, six hundred twenty-five million, six hundred thousand Rupiah).
Merits of Case
:
Lawsuit in relation to ownership of 14,315-m² land on W2 Section of JORR Toll Road.
Status of Case
:
At cassation level, the case has reached a verdict on 01 February 2012, the suit of Acintya Anggita Devi was denied.
CASE OF RAHMAN ISA Corporate Social Responsibility
Case No.
180
:
558/Pdt/2012/PT. Bdg
Institution
:
District Court of Bandung
Parties
:
Plaintiff
:
Rahman Isa
Defendant I
:
Jasa Marga
Defendant II
:
Bina Marga, Department of Public Works
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Materi al Litigatio n
Amount Sued
:
Rp 33,143,000,000 (thirty-three billion, one hundred forty-three million Rupiah).
Merits of Case
:
Lawsuit in relation to ownership of 30,130-m2 land located on Jakarta-Cikampek Toll Road KM 9 (heading from Jati Bening Toll Gate).
Status of Case
:
At cassation level, the case has reached a verdict on 13 December 2012, the appeal of Rahman Isa was denied.
CASE OF AMSIR Case No.
:
29PK/PDT/2011
Institution
:
Supreme Court
:
M. Amsir bin Sinan Cs
Defendant I
:
Jasa Marga
Defendant II
:
Bina Marga, Department of Public Works
Defendant III
:
Village Head of Pondok Ranji
Defendant IV
:
Village Secretary of Pondok Ranji
Defendant V
:
District Head of Ciputat
Defendant VI
:
BPN (National Land Agency) of Tangerang
Defendant VII
:
Tax Office of Tangerang
Information for Investors
:
Plaintiff
Defendant VIII :
Regent of Tangerang
Defendant IX
:
PT Jaya Realestate
Defendant X
:
PT Sinar Hidayat Utama
Defendant XI
:
Mr. Insan Hartiwo
Amount Sued
:
Rp 25,020,000,000 (twenty-five billion, twenty million Rupiah).
Merits of Case
:
Lawsuit of ownership of 14,380-m2 land located in Pondok Ranji Village (Ulujami-Pondok Aren Section of JORR Toll Road).
Status of Case
:
The case is in the process of Judicial Review at Supreme Court.
Corporate Profile
Parties
Human Capital Management
CASE OF RAHMAN ISA
Case No.
:
205/Pdt.G/2012/Jkt.sel
Institution
:
District Court of South Jakarta
Parties
:
Plaintiff
:
Urip bin Nasar
:
Onih binti Ridi
:
Jasa Marga
Amount Sued
:
Rp 13,892,624,000 (thirteen billion, eight hundred ninety-two million, six hundred twenty-four thousand Rupiah).
Merits of Case
:
Lawsuit of ownership of 9,164-m2 land in Pesanggrahan Village of Pesanggrahan District, South Jakarta (Ulujami-Pondok Aren Section).
Status of Case
:
The case is in the process of investigation at District Court.
Defendant
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
CASE OF URIP BIN NASAR AND ONIH BINTI RIDI
181
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Ma teria l L itig a tion
CASE OF SRI SUPARTINI Case No.
:
490 PK. Pdt/2007
Institution
:
Supreme Court
Parties
:
Plaintiff
:
Sri Supartini Cs.
Defendant I
:
P2T (Land Acquisition Team) of Regency of Tangerang
Defendant II
:
Department of Settlement and Regional Infrastructure
Defendant III
:
Jasa Marga
Amount Sued
:
Rp 10,140,000,000 (ten billion, one hundred forty million Rupiah)
Merits of Case
:
Lawsuit in relation to dispute over land ownership on Ulujami-Pondok Aren Section.
Status of Case
:
At the level of Judicial Review, the case has reached a verdict stating that P2T of Regency of Tangerang, Department of Settlement and Regional Infrastructure and Jasa Marga were jointly sentenced to pay compensation amounting to Rp 9,400,000,000 (nine billion, four hundred million Rupiah) and immaterially amounting to Rp 1,000,000,000 (one billion Rupiah) to Sri Supartini Cs.
Corporate Litigation Kasus Tirtobumi I CASE OF TIRTOBUMI I
: BANI No. 406/VI/ARB-BANI/2011
Case No.
: BANI No. 406/VI/ARB-BANI/2011
Institution
: Badan Arbitrase Nasional Indonesia
Parties
:
Plaintiff
: PT Tirtobumi
Defendant I
: Jasa Marga
Amount Sued
: 0
Merits of Case
: PT Tirtobumi file a lawsuit against the Company at BANI for the Company’s negligence in forwarding/submitting letter requesting revenue sharing extension for widening of Kebun Jeruk-Tangerang Barat Section proposed by PT Tirtobumi to the Ministry of Public Works.
Status of Case
: BANI’s verdicts stated on 05 January 2012 and registered on 30 January 2012, obligated the Company to: 1. Submit and discuss the review with PT Tirtobumi in thirty (30) days since the date of the verdicts. 2. Submit a letter requesting the extension of revenue sharing agreement proposed by PT Tirtobumi by attaching results of review conducted by the Company on such extension proposal to the Minister of Public Works not later than forty (40) days since the date of the verdicts.
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
Corporate Governance
182
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Materi al Litigatio n
64/Pdt.G/2012/PN.Jak.Tim
:
District Court of East Jakarta
Parties
:
Plaintiff
:
PT Tirtobumi
Defendant
:
Jasa Marga
Amount Sued
:
Rp 1,247,567,000,000 (one trillion, two hundred forty-seven billion, five hundred sixty-seven million Rupiah).
Merits of Case
:
Tirtobumi filed a lawsuit against Jasa Marga at District Court of East Jakarta for the Company’s not carrying out BANI’s verdicts No. 406/VI/ARB-BANI/2011 in accordance with the contents of the verdicts, stating that: 1. The Company is obligated to submit and discuss its review with PT Tirtobumi in thirty (30) days since the date of the verdicts. 2. The Company is obligated to forward the proposal of PT Tirtobumi along with results of Jasa Marga’s review on the extension of the period of Revenue Sharing Agreement in forty (40) days since the date of the verdict.
Status of Case
:
The case has reached a verdict on 10 December 2012 and the Company has filed an appeal against the verdict to High Court of DKI Jakarta through Court of East Jakarta, on 17 December.
CASE OF WIDENING OF CIKAMPEK-CIBITUNG TOLL ROAD SECTION Case No.
:
240 K/Pdt/2011
Institution
:
Supreme Court
Parties
:
Plaintiff
:
Jasa Marga
Defendant I
:
PT Bangun Tjipta Sarana (BTS)
Plaintiff
:
PT Bangun Tjipta Sarana (BTS)
Defendant
:
Jasa Marga
:
a. Jasa Marga sued for Rp 92,535,000,000 (ninety two billion, five hundred thirty five million Rupiah).
In Counter-Suit
Amount Sued
Information for Investors
:
Institution
Corporate Profile
Case No.
Human Capital Management
CASE OF TIRTOBUMI II
Merits of Case
:
Lawsuit filed by Jasa Marga against BTS in relation to Revenue Sharing Agreement for Cikampek-Cibitung Section of Jakarta-Cikampek Toll Road No. 109 dated 16 October 2002.
Status of Case
:
The case of Cassation filed by Jasa Marga on 31 October 2011 in case No. 240 K/ Pdt/2011 at present is still being processed at Supreme Court.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
b. BTS sued (in counter-suit) for Rp 4,827,233,000,000 (four trillion, eight hundred twenty-seven million, two hundred thirty-three million Rupiah).
183
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Management Reports
Performance Highlights 2012
Corporate Governance Ma teria l L itig a tion
CASE OF PT SUMBER MITRA JAYA (SMJ) Case No.
:
1369 K/Pdt/2011
Institution
:
Supreme Court
Parties
:
Plaintiff
:
PT Sumber Mitra Jaya (SMJ)
Defendant
:
Jasa Marga
Co-Defendant I
:
Sub Branch Manager of PT BNI (Persero) Tbk.
Co-Defendant II
:
PT Yodya Karya (Persero)
In Counter-Suit
:
Jasa Marga
Plaintiff
:
Jasa Marga
Defendant
:
PT Sumber Mitra Jaya (SMJ)
Amount Sued
:
a. SMJ sued for Rp 6.638.499.600 (six billion, six hundred thirty eight million, four hundred ninety nine thousand, six hundred Rupiah). b. BTS sued (in counter-suit) for Rp 4,827,233,000,000 (four trillion, eight hundred twentyseven million, two hundred thirty-three million Rupiah).
:
Lawsuit filed by SMJ in relation to the termination of SMJ Contact by Jasa Marga, as SMJ was incapable of completing the work of Additional Lane of Cikarang Timur-Karawang Barat Section (KM 41+400 – KM 47+200) both Directions on Jakarta-Cikampek Toll Road.
Status of Case
:
The case of Cassation filed by SMJ on 10 February 2011 in case No. 1369 K/Pdt/2011 at present is still being processed at Supreme Court.
Other Cases CASE OF ACCIDENT AT DUKUH 2 TOLL GATE Case No.
:
132/Pdt.G/2012/PN.Jkt Tim
Institution
:
District Court of East Jakarta
Parties
:
Plaintiff Defendant
:
Budiyanto Sutanto
:
Jasa Marga
Amount Sued
:
Rp 10,450,218,000 (ten billion, four hundred fifty million, two hundred eighteen thousand Rupiah).
Merits of Case
:
Lawsuit filed by Budiyanto Sutanto for the accident taking place at Dukuh 2 Toll Gate on 09 June 2011 causing the death of a toll collector as a result of being hit by Budiyanto Sutanto’s vehicle.
Status of Case
:
The case is still in the process of investigation at District Court.
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Merits of Case
184
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Materi al Litigatio n
District Court of Bandung
Parties
:
Plaintiff
:
Masyrul Syakrani
Defendant I
:
Eko Haripurwanto
Defendant II
:
Jasa Marga
Defendant III
:
Bina Marga, Department of Public Works
:
Ministry of Public Works
Amount Sued
Co-Defendant
:
Rp 1,240,042,000 (one billion, two hundred forty million, forty-two Rupiah).
Merits of Case
:
Lawsuit was filed by Masrul Syakrani in relation to dispute over official resident located at Jalan Gunung Batu No. 257 Ka. F 6.1 Bandung.
Status of Case
:
Investigation at District Court has been completed and the court has reached a verdict granting the exception of absolute competence proposed by Jasa Marga and denying Plaintiff’s suit.
Litigation at Subsidiaries In 2012, no litigation is faced by ether the Subsidiaries or the Board of Commissioners and Directors of Subsidiaries. Detailed description concerning Litigation at Subsidiaries is shown as follows: Table Litigation at Subsidiaries
Information for Investors
364/Pdt.G/2011/PN.Bdg
:
(as of 31 December 2012)
No.
Name of Subsidiary
Litigation
Amount Sued
1.
PT Jalantol Lingkarluar Jakarta (Jakarta Outer Ring Road Toll Road)
None
None
2.
PT Marga Lingkar Jakarta (JORR W2 Utara Toll Road)
None
None
3.
PT Marga Sarana Jabar (Bogor Outer Ring Road Toll Road)
None
None
4.
PT Marga Kunciran Cengkareng (Cengkareng-Kunciran Toll Road)
None
None
5.
PT Marga Trans Nusantara (Kunciran-Serpong Toll Road)
None
None
6.
PT Marga Trans Jateng (Semarang-Solo Toll Road)
None
None
7.
PT Marga Nujyasumo Agung (Surabaya-Mojokerto Toll Road)
None
None
8.
PT Trans Marga Jatim Pasuruan (Gempol-Pasuruan Toll Road)
None
None
9.
PT Jasamarga Bali Tol (Nusa Dua-Ngurah Rai-Benoa Toll Road)
None
None
10.
PT Marga Bumi Adhika Raya (Gempol-Pandaan Toll Road)
None
None
11.
PT Sarana Marga Utama
None
None
Constructing towards the Future
Annual Report 2012
Corporate Profile
:
Institution
Management Responsibility for Annual Report 2012
Case No.
Human Capital Management
CASE OF MASRUL SYAKRANI
185
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Code of Conduct and Corporate Culture Making GCG the Corporate Culture
3. To be Eager to Learn
Jasa Marga has always strived to create corporate
Expected behaviors:
culture that upholds integrity. The approach of
a. To always be curious and to learn new things
Corporate Governance
Management Discussion and Analysis
Management Reports
internalizing corporate culture is carried out by
b. To look things forward and to constantly
and employees. With the said approach, not only
make efforts to take the Company to a
is the culture of Jasa Marga written in the policies
higher level.
and procedures but also become soft skills that are
c.
of improving the quality of processes and
and employees in carrying out daily tasks.
products of the Company.
The Company’s corporate values are To Have Integrity,
4. To Build Trust
To Have Passion for the Job, To be Eager to Learn and
Expected behaviors:
To Build Trust. The four values serve as the foundation
a.
To believe in good will.
in the interaction of Jasa Marga Individuals with the
b.
To always build trust among all levels of the Company.
stakeholders. c.
1. To Have Integrity
Company only. d.
Expected behaviors: a. To work only for the benefits of the Company. b. To never misuse the authority, i.e. using it for
To avoid being fragmented by constantly helping each other to bring benefits to the
The Company’s Values are described as follows:
To be service-oriented by providing the best service to earn customers’ trust.
mperoleh kepercayaan dari pelanggan.
c. To be responsible and to always be able to
The Company’s Code of Ethics (Code of Conduct)
explain the reasons behind the decisions and
The Company currently has Code of Conduct that has
measures taken in carrying out the duties.
been legalized through the issuance of Decision Letter
the interests of other than the Company’s.
d. To apply work ethics at all times.
of the Directors No. 97/KPTS/2011 dated 01 June
e. To constantly become the role model for the
2011 on Code of Conduct.
surroundings.
2. To Have Passion for the Job
Code of Conduct is arranged to for the carrying out
Expected behaviors:
of good and right company management, hence it
a.
To have high spirit and strong will to always
requires guidelines that are intended to form and
do the best in the respective fields.
regulate the accordance of behavior to achieve
To love the job and to always develop
consistent GCG implementation as the Company’s
positive-thinking attitudes in working.
culture that maximizes the implementation of the
To have high awareness of the Company’s
principles of good corporate governance for the
predicaments.
accomplishment of the Company’s Vision and Mission.
c. d. e.
To take pride in the Company as the realization of being proud of the country.
With the spirit of change, there has been a revision
To constantly produce the work of the best
to the book of Code of Conduct on PT Jasa Marga
quality
(Persero) Tbk. and this serves as part of Good Corporate
Governance
implementation
that
is
expected to be the basis for all level of Jasa Marga Management and Individuals in carrying out their duties.
186
To dare to try new things for the sole purpose
practiced by the Board of Commissioners, Directors
b.
Corporate Social Responsibility
for the Company’s improvement.
integrating the three aspects of leadership, system
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Code of Con duct an d Corp orate Culture
Code of Conduct is the guidelines for all individuals of the Company, starting from the Board of Commissioners, Directors of the Company while carrying out the Company’s Code of Conduct consistently, all Jasa Marga individuals, wherever they are, they will constantly support the implementation of good corporate governance, which in the end will lead to the increase in corporate image for the benefit of the entire stakeholders.
Contents and Applicability of the Company’s Code of Ethics (Code of Conduct) The Company’s Code of Conduct regulates the ethical values that are explicitly stated as standards of behavior to which all Jasa Marga Individuals must refer.
Human Capital Management
and the entire employees, in working and interacting with the entire stakeholders of the Company. With the main values
Chapter I
Introduction
Chapter II
Good Corporate Governance Principles
Chapter III
Business Ethics of the Company
Chapter IV
Ethics/Guidance on Conducts for Jasa Marga Individuals
Chapter V
Enforcement and Reporting
Code of Conduct is applicable to all Jasa Marga Individuals, starting from the Board of Commissioners, Directors, Heads of Division/Heads of Bureau, Heads of Department/Heads of Sub Division, and Staff.
Information for Investors
Code of Conduct contains the following:
Diagram Applicability of Jasa Marga Code of Conduct
Directors
Employees of the Company
Employees assigned other companies and institutions
Other personnel working directly for and on behalf of the Company
Disclosure on Code of Conduct to All Jasa Marga Individuals Code of Conduct is disclosed and/or distributed to all Jasa Marga Individuals by means of various media of the Company, including by making use of the information technology so that it is accessible by all employees at any time. Periodically, through Memo and/or Circular Letter from the Directors, all Jasa Marga Individuals are informed of the implementation of business ethics.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Corporate Profile
Board of Commissioners
187
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Management Reports
Performance Highlights 2012
Corporate Governance Code of C on d uct a nd Co rpo r a te Cul t ur e
The media for socializing the Code of Conduct, among others are:
interventions causing the Company’s loss.
- Website -
Pocket book
-
Outdoor banner
5. The Company firmly yet politely refuses all 6. The Company treats the stakeholders fairly and equally and this has been reflected in every activities of the Company’s Business.
- Banner
7. The Company constantly informs the stakeholders
- Bulletin
its commitment and consistency in implementing
-
Statement of commitment jointly signed, multiplied
Good Corporate Governance through various
and framed, and then distributed to all Working
means of communications.
Units and Branches - Jingle
Detailed enforcement of Code of Conduct in relation to
-
the Company’s stakeholders is as follows:
Advertisement in newspapers
- etc.
1. To Jasa Marga Individuals
Management Discussion and Analysis
a. Integrity Pact that is signed by all employees To realize the conducts of Jasa Marga Individuals that
and is renewed every beginning of the year.
uphold business ethics, the Company has decided
b. Compliance of the Company’s obligations with
Strategic Initiatives carried out, among others through:
Employees in accordance with Joint Working
1. Commitment of the Board of Commissioners and
Agreement.
Directors along with Employees to implement Good Corporate Governance in every activities of the Company, and this was stated in the Integrity Pact that is renewed every beginning of the year. 2. Role model by providing examples of behaviors and conducts that do not contradict the Company’s policy and regulations on Good Corporate
c. Provision of equal opportunity to all employees of the Company in career/placement. Implementation d.
of
performance-based
employee remuneration system. e. Competency development by trainings for Jasa Marga Individuals. f. Reward and Punishment.
Corporate Governance
Governance.
Efforts to Implement and Enforce Code of Conduct In 2012, the efforts to enforce Code of Conduct have been taken in various ways, including among others: 1. All Jasa Marga Individuals have made compliance statement and Integrity Pact.
Corporate Social Responsibility
a. Compliance of the Company’s obligation with prevailing rules and regulations. b. Compliance of the Company’s obligation in LHKPN reporting and taxes. c. Submission of the Company’s reports to related Government Offices such as Bapepam-
2. The Company informs each of its strategic actions
LK, Indonesia Stock Exchange, State Ministry
and its performance results accurately and
for SOEs and BPJT (Badan Pengatur Jalan Tol
punctually, and provides information media of the
– Indonesian Toll Road Authority).
Company that are easily accessed by all entire
188
2. To the Government
stakeholders.
d. Mechanism of
Receiving
for
handling
Gratification
and
reporting
inevitable
by
3. The Company always complies with prevailing rules
management and all employees of the
and regulations in running its business process.
Company to be recapitulated and reported
4. The Company carries out its business prudently
to the Corruption Eradication Commission
with good business risk management through systematic risk analysis.
Annual Report 2012
Constructing towards the Future
(Komisi Pemberantasan Korupsi – KPK). e. Active participation in the membership of Anti-
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Bribery Entrepreneurs Community (Komunitas
and competing in the process decided by the
Pengusaha Anti Suap – KUPAS) and becoming
Government in winning toll road concessions fairly
part of Anti-Corruption Initiative Study (Studi
in accordance with prevailing rules and regulations
Prakarsa Anti Korupsi – SPAK) conducted by
along with existing business ethics principles.
KPK. 6. To Creditors/Investors 3. To Shareholders
a. Disclosing actual and prospective information
a. Making sure that each Shareholder has his/her
on among others the Company’s shares (JSMR)
rights in accordance with the Company’s Articles
by means of among others the Company’s
of Association, all resolutions legally approved by
website, annual report, public expose and mass
GMS and prevailing rules and regulations. completely,
media.
to
the
accurately
and
punctually in accordance with prevailing rules and regulations. c. Carrying
out
b. Carrying out the Company’s obligation to the creditors/investors in a timely fashion. c. Carrying out the agreed rights/obligations consistently.
dividend
payment
for
the
Shareholders punctually, fairly and transparently.
7. To Surrounding Community and Environment a. Implementation
4. To Business Partners/Suppliers/Contractors
of
Corporate
Social
Responsibility (CSR) programs developed and
a. Fair and transparent process of Procurement of
carried out towards the improvement of the life
Goods and Services while avoiding the practices
quality of the people living in the Company’s
of corruption, collusion and nepotism (Korupsi,
toll road surroundings, while focusing mainly
Kolusi dan Nepotisme – KKN), among others
on Partnership Program, Education and Art
through e-Procurement System.
Assistance,
b. Signing of Integrity Pact for the Procurement
Health
Assistance,
Religious
Facilities, and Education related to traffic.
Goods and Services in the Company by both
b. Implementation of planned toll road forestation
the Procurement Committee and Procurement
along the corridor of the Company’s toll roads
Participants.
since 1987.
c. Advertisement in two (2) national newspapers at
c. People’s education on traffic ethics by among
the time nearing Hari Raya (religious holidays)
others publishing book “Aku Tertib Berlalu
concerning the Company’s commitment to not
Lintas” (I Obey Traffic Regulations) and training
receiving and giving gifts.
on driving ethics on toll road.
d. Selection of business partners having the same
d. Carrying out of AMDAL (Environmental Impact
values and business ethics as the Company’s.
Analysis) prior to toll road development along
e. Carrying out of the agreed rights/obligations
with RKL (Environmental Management Plan)
consistently.
and RPL (Environmental Monitoring Plan) when toll roads are operated.
5. To Competitors Constantly
carrying
e. Use of environmentally friendly and efficient out
healthy
and
ethical
competition principles, among others by participating
Information for Investors
Shareholders
information
Corporate Profile
material
resources, such as the use of solar cell and LED lamps for toll road lightings.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
b. Providing
Human Capital Management
Code of Con duct an d Corp orate Culture
189
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Equal Treatment to All Shareholders Jasa Marga ensures equal treatment to all of the
addition, Jasa Marga recognizes stakeholders’ rights,
Company’s
as protected by law, and seeks to promote active
shareholders,
including
minority
and
foreign shareholders. The entire shareholders have the
cooperation with the stakeholders.
Corporate Governance
Management Discussion and Analysis
Management Reports
opportunity to be compensated when suffering from the loss due to proven misconducts. Jasa Marga also applies
In the implementation of GCG assessment in 2012
fair and equal treatments to shares that belong to same
carried out by independent party, in the aspect of
category, prohibits insider trading and self-dealing,
Shareholders and GMS, the Company achieved the
and requires the Board of Commissioners to disclose
score of 97.80%.
all transactions that contain a conflict of interest. In
Procurement of Goods and Services The Company needs to carry out the procurement
The implementation of procurement of goods and
of goods and services in fast, flexible, efficient and
services in the Company refers to a number of
effective so that the Company does not miss the
regulations, among others are as follows:
business momentum possibly causing loss. This is
1. Law No. 18 of 1999 on Construction Service.
the reason why it is necessary to have the Standard
2. Law No. 19 of 2003 on State-Owned Enterprises.
Operating Procedures for the Implementation of Goods
3. Law No. 40 of 2007 on Limited Liability Company.
and Services within the Company in order to fulfill the
4. Government Regulation No. 28 of 2000 on
business needs while observing the principles of:
Business and Roles of the Society of Construction
• Efficient
Service.
• Effective
5. Government Regulation No. 29 of 2000 on the
• Competitive
Carrying Out of Construction Service.
• Transparent
6. Government Regulation No. 30 of 2000 on the
• Fair and equitable • Accountable
7. Government Regulation No. 45 of 2005 on Establishment, Management, Supervision and
Corporate Social Responsibility
The result of the procurement of goods and services
190
Carrying Out of Construction Service Guidance.
Closing down of State-Owned Enterprises.
should be physically and financially accountable for
8. Regulation of the State Minister for SOEs No. Per-
the benefit of the Company in view of its operation and
05/MBU/2008 on General Guidelines for the
business development, as well as the society.
Implementation of Procurement of Goods and Services at SOEs. 9. The Company’s Articles of Association.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance
Internal Regulations of the Company
a. Procurement Specification
One of the priorities in Directors work program is to improve
This stage determines the requirement of goods or
the regulation of the procurement of goods and services
services to purchase to be stated in the technical
within the Company. This was realized by the issuance of
specifications of the requirement along with Owner Estimate (OE).
Decision of the Directors No. 15/KPTS/2009 dated 20 January 2009. The spirit of implementing good corporate
b. Procurement Method
governance in the said regulation is really represented
This stage determines the procurement method
in every article and guidance of the regulation so that it
that
accords
required
goods/service
provides clear instructions and directions in the practice
availability of good/services in the market.
of fair, transparent and accountable procurement that
The procurement methods consist of:
is far from KKN (corruption, collusion and nepotism)
1. Tender.
practice.
2. Direct Selection.
with
Human Capital Management
Procuremen t of G oods an d Ser v i c es
3. Direct Appointment. mentioned above refers to the Regulation of the State
c. Contract Agreement
Minister for State-Owned Enterprises No. Per-05/
1. Negotiation.
MBU/2008 on General Guidance on Implementation
2. Contract Preparation (document completeness
of Procurement of Goods and Services at SOEs. The Company’s internal procurement regulation has been amended several times and the last amendment
from legal aspects). 3. Contract Signing. d. Contract Management
was through the issuance of Decision Letter No. 57/
1. Control of Contract Implementation.
KPTS/2011 on the Standard Operating Procedures
2. Monitoring of Payment.
for the Procurement of Goods and Services within the
3. Evaluation of Business Partners Performance.
Company effective from 11 April 2011. In the most recent regulation, the Company has developed/modernized the
Integrity Pact of Business Partners
system of procurement of goods/services at the Company
The Company obligates each vendor and business
by enabling online system (e-procurement).
partner to sign Integrity Pact in relation to the procurement of goods and services.
Process of Procurement of Goods and Services
Information for Investors
4. Direct Transaction.
Corporate Profile
The regulation of procurement of goods and services
The process of procurement of goods/services begins with requirement management to the existence of contract followed by contract management with the Management Responsibility for Annual Report 2012
following stages:
Constructing towards the Future
Annual Report 2012
191
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
The Company’s Accountant The function of independent supervision for the Company’s financial aspect is carried out by implementing External Audit conducted by public accounting firm. Public Accounting Firm HLB Hadori Sugiarto Adi & Rekan has audited the Company’s financial statements for 3 periods of financial year in a row (2008-2011). The year 2012 is the first period for Public Accounting Firm RSM Aryanto, Amir Jusuf, Mawar & Saptoto to perform audit of the Company’s financial statements. Table the Company’s Accountants 2009-2012
Management Discussion and Analysis
Management Reports
Year
Public Accounting Firm
Contract (Rp)
Implementing Partner
(Rp)
Implementing Partner
858,000,000
Drs. Hartono, Ak., CPA
2009
HLB Hadori Sugiarto Adi & Rekan
858,000,000
Drs. Hartono, Ak., CPA
2010
HLB Hadori Sugiarto Adi & Rekan
660,557,500
Drs. Hartono, Ak., CPA
2011
HLB Hadori Sugiarto Adi & Rekan
1,065,000,000
Drs. Hartono, Ak., CPA
2012
RSM Aryanto, Amir Jusuf, Mawar & Saptoto
1,622,500,000
Saptoto Agustomo
Audit of Financial Statements Financial Year 2012
3. Board of Commissioners informed the Directors by letter of the Board of Commissioners No. DK-
For the purpose of auditing the Financial Statements
0054/III/2012 dated 29 March 2012 on Winner of
of the Company and its Subsidiaries, the Company has
Procurement of the Service of Public Accounting Firm
appointed a public accounting firm that is registered at
PT Jasa Marga (Persero) Tbk. for Financial Year 2012.
Bapepam-LK, i.e. Public Accounting Firm RSM Aryanto,
4. Board of Commissioners proposes to GMS to approve the appointment of Public Accounting Firm.
Amir Jusuf, Mawar & Saptoto. The appointment of the said public accounting firm has been decided at GMS on 09 May 2012 based on the recommendation of the Board
The total cost for the audit of Consolidated Financial
of Commissioners of the Company. The scope of Audit
Statements 2012 amounted to Rp 1,622,500,000
conducted by Public Accounting Firm RSM Aryanto, Amir
(VAT inclusive) excluding Out of Pocket Expenses (OPE).
Jusuf, Mawar & Saptoto also includes audit of Financial
The appointed Public Accounting Firm RSM Aryanto,
Report of Partnership and Community Development
Amir Jusuf, Mawar & Saptoto has completed its tasks
Programs of the Company for Financial Year 2012.
independently in accordance with professional standard for public accountant, contract as well as the agreed
Process of Appointing External Auditor
scope of audit. The period of audit commenced from
The appointment of External Auditor was carried out
January to April 2013.
Corporate Governance
through the following mechanism: 1. Audit Committee evaluated Public Accounting Firm.
In addition to auditing financial report, the scope of
2. Audit
of
work of External Auditor also covers the consulting for
Commissioners by letter No. KA/009/II/2012 on
Management Report, Compliance Report, Internal Control
Report on Procurement of the Service of Public
and Partnership and Community Development Programs
Accounting Firm for Financial Year 2012.
(PKBL) Report.
Committee
reported
to
the
Board
Corporate Social Responsibility
Audit Team of Public Accounting Firm RSM Aryanto, Amir Jusuf, Mawar & Saptoto
DirectorAmir Abadi Jusuf Independent Partner Mawar I. R. Napitupulu
Implementing Partner Saptoto Agustomo
IT Specialist Syahraki Syahrir
Team Leader Indraguna K
Quality Assurance Reviewer Leknor Joni
Tax Specialist Felix Purba
Auditors and Compliance Auditors Aji Y Sani, Mahardika B, Irsandy, Merry, Fadly Rumzi, Andrew Wahyudi 192
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
implementation, the Company urges that violation to
motives of misconduct.
GCG implementation and Code of Conduct be avoided by
Sanctions for misconducts may range from verbal
the entire Jasa Marga Individuals. In view of the above,
warning, warning letter (I, II, III), to termination of
the Company has implemented Whistleblowing System
employment. The Company does not tolerate any
as the media for submitting report on violation of GCG
violation related to integrity.
implementation and Code of Conduct of the Company. Whistleblowing System is a system that manages the
Whistleblowing System Management Team
reporting/disclosures of illegal conducts, and unethical/
Whistleblowing System (WBS) is mechanism for
improper conducts in confidential, anonymous and
violation
independent manners to be used in optimizing the roles
employees or leaders of the Company. The reporting
of Jasa Marga Individuals as well as other parties in
is made by means of standard mechanism managed
revealing misconducts that occur in the Company.
professionally by Whistleblowing System Management Team
reporting
assisted
conducted
by
confidentially
Whistleblowing
by
System
The Company has had Guidance on Whistleblowing
Administration Management, namely PT Deloitte
System through Decision of the Directors No. 195/
Konsultan Indonesia that was selected through the
KPTS/2011 dated 15 December 2011 on Whistleblowing
process of procurement of goods/services at the
System that is referred to as “Jasa Marga Amanah”
Company Perseroan.
(Trustworthy Jasa Marga), and it was then renewed by Decision of Directors No. 09/KPTS/2013 dated 16
Based on the Decision of Directors No. 10/
January 2013 on Whistleblowing System.
KPTS/2013 dated 16 January 2013 on the Forming of Whistleblowing System Management Team, members
Each incoming report will be studied, classified and
of Whistleblowing System Management Team are as
followed up by means of thorough investigation based on
follows:
Information for Investors
impact of misconduct, degree of intentionality and
Corporate Profile
As part of its commitment to continually improving GCG
Human Capital Management
Whistleblowing System
the facts received. The decision whether or not the report
Management Responsibility for Annual Report 2012
is proven will be made based on the considerations of
Table Membership of Whistleblowing System Management Team No.
Composition of Member
Position in Team
1.
Head of Internal Auditing Unit
Chairman and Member
2.
Corporate Secretary
Secretary and Member
3.
Head of Legal Bureau
Member
4.
Head of Human Resources Management Bureau
Member
5.
Head of Risk and Quality Management Bureau
Member
Constructing towards the Future
Annual Report 2012
193
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Whistleb l ow in g S y stem
The Basis of Implementing Whistleblowing System
2. Making available of early warning system mechanism.
1. The Company’s willingness to continue to enforce
3. Providing opportunity to first deal with the issues
Good Corporate Governance principles within the
of misconduct internally prior to becoming public
entire Company, particularly in relation to integrity
violation. 4. Creating reluctance to commit any violations
and transparency. 2. The Company’s commitment to providing means for the enforcement of Good Corporate Governance
Management Discussion and Analysis
Management Reports
principles, thus creating clean and responsible work situation. 3. One of the powerful tools in avoiding and detecting
Internal socialization of Whistleblowing System (WBS) media such as internal bulletin, poster, and ethics
Objectives, Purposes and Benefits of Whistleblowing System
socializing as well as direct presentation to related units. Externally, the socialization was carried out
The objectives, purposes and benefits of implementing
by using the Company’s website and circular letter/
Whistleblowing System (WBS) at the Company are as
memo. WBS socialization became one the materials
follows:
in the event of GCG Implementation Socialization on
1. Providing the means of submitting important and
02 April 2012.
critical information for the Company to the parties that that is required to deal with the issues securely.
Timeline of Whistleblowing System Diagram Timeline of Whistleblowing System Decision Letter of Directors No. 195/KPTS/2011
14/12/2011 Signing of Commencement Statement by Chairman of Board of Commissioners and President Director
Signing of Cooperation Agreement with Deloitte
15/12/2011 1. Policy 2. Type of WBS 3. Reporting Mechanism 4. Forming of Team
Corporate Social Responsibility
Corporate Governance
Socialization of Whistleblowing System in the Company was carried out through various
potential violations in the Company.
Kick off
194
(supervision by all parties
Annual Report 2012
Constructing towards the Future
04/05/2012
Presentation to Directors
19/06/2012
Socialization
16/01/2013
Go Live Whistleblowing System
16/01/2013 to 11/02/2013
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate Governance Whi s t l ebl owi ng System
Scope of Whistleblowing The scope of the report that will be followed up by Whistleblowing System covers the actions that may cause potential Human Capital Management
loss to the Company, and they include the following: 1. Violation of prevailing rules and regulations 2. Misuse of position for the interests not of the Company’s 3. Extortion 4. Fraud 5. Conflict of interest 6. Gratification
Means of Whistleblowing Whistleblower reports in the form of letter accompanied with required supporting documents. The report is addressed
+62 21 2350 7022 +62811 1255 550
For Whistleblowing via phone calls and text messages, live reporting time is from 07:00 WIB (Western
+62 21 2350 7023
Indonesian Time) to 21:00 WIB,
Information for Investors
to Whistleblowing Management Team and is submitted via one of the following means:
otherwise will be diverted to voice
http://jasamarga.tipoffs.asia
mail.
[email protected] Corporate Profile
P.O Box 2332, JKP 10023
Mechanism of Receiving Reports in Whistleblowing System The mechanism of receiving whistleblower’s report is shown in the following diagram:
WHISTLEBLOWER Means of Whistleblowing
Deloitte analyst asks relevant information to whistleblower
Deloitte analyst will give unique reference number to whistleblower
Deloitte contact center responds when whistleblower asks the follow up status of the report
Deloitte forensic Investigator reviews call log, make investigation report and follow up recommendations
Report will be published in E-Room and email notice will be sent to all members of Jasa Marga WBS Management Team
WBS Management Team will follow up* and respond to the case to Deloitte
Deloitte Contact Center responds to whistleblower based on reference number
Management Responsibility for Annual Report 2012
Diagram Mechanism of Receiving Reports in Whistleblowing System
*) The process of handling reported case is in accordance with the provisions stated in Decision of the Directors of Jasa Marga No. 09/KPTS/2013 – Attachment II
Constructing towards the Future
Annual Report 2012
195
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corporate Governance Whistleb l ow in g S y stem
Flow of Whistleblowing System Process The flow of the process of Whistleblowing System is shown in the following diagram: Diagram Flow of Whistleblowing System Process
External Process Whistleblower
Yes
Fulfill
Whistleblowing
Criteria? No
Management Reports
Reported to Directors
Preliminary Analysis by WBS Team
Further Investigation?
Reported to Board of Commissioners
No
Forwarded to Related Function
Ya Internal Investigation (SPI)
Respond/Feedback
Special Investigation
Management Discussion and Analysis
Report on Results of Investigation
WBS Team Punishment in accordance with applicable procedures
Yes
Decision of Directors/Board of Commissioners
No Case Closed
Notes: 1. Whistleblower will always get feedback and status of the report submitted 2. Flow of Whistleblowing If Employees and Board of Commissioners are being reported, report is addressed to WBS Team
Corporate Social Responsibility
Corporate Governance
If WBS Team is reported, report is addressed to Directors
If Directors are reported, report is addressed to Board of Commissioners
When the documents and evidences submitted are
free, and confidential for whistleblower, so that secured
complete, Whistleblowing Team conducts data selection
whistleblowing process is carried out. Moreover, WBS
and decides whether or not the case is able to move
also maintains confidentiality of whistleblower’s identity
up to investigation as the next level. With enough
for the purpose of giving protection to whistleblower and
evidences, the report will then move to higher stage, i.e.
his/her family from adverse actions by reported parties
investigation. Unproven report will be returned to the
or organization. Information on the carrying out of report
whistleblower. When proven, Whistleblowing Team will
follow up will be submitted confidentially to whistleblower
report finding results to the Directors. Reports related
with complete identity.
to the Management below Directors are addressed to the President Director in the form of letter, whereas
WBS Implementation in 2012
reports related to Directors are addressed to the Board
During the year 2012, the Company prepared the
of Commissioners.
infrastructure and intensification of WBS management
Protection for Whistleblower The Company provides the means for whistleblowing (phone, letter, email) facilities that are independent,
196
Annual Report 2012
Constructing towards the Future
mechanism.
Corporate Social Responsibility ANNUAL REPORT 2012
www.jasamarga.com
PT Jasa Marga (Persero) Tbk.
Strategy and Policy
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
198
Jasa Marga’s concern is implemented not only in profit, but also in the activities of environmental management and maintaining good relationship with the stakeholders.
The sustainability of corporate business is the
As a business institution with the core business of
fundamental factor that the Company focuses on.
developing and operating toll roads, it is inevitable that
Realizing that its business sustainability is influenced
Jasa Marga is oriented to profit increase in each of its
by the aspects of economy, social and environment,
activity. Nonetheless, Jasa Marga is aware that the
the Company makes the effort to maintain business
sustainability of the profit in every business is affected by
existence with the Tipple Bottom Line: People, Planet
proper work and labor practices for the employees, well
and Profit as the basis of its activities in maintaining
nurtured communication activities with the surrounding
business sustainability.
community, environmental sustainability and other factors, so that Jasa Marga’s concern is implemented not
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate S oci al Responsibility
Information for Investors
Human Capital Management
Ecol og i cal Res ponsibility
only in profit, but also in the activities of environmental
1. Implementation of Environmental Impact Analysis
management and maintaining good relationship with the
(Analisis Mengenai Dampak Lingkungan – AMDAL)
stakeholders.
as
environment
risk
management
in
every
operational activity. Jasa Marga invites all its stakeholders to actively participate in carrying out the actions while referring to the Tipple Bottom Line concept, through among others:
Corporate Profile
P l a n t i n g of ma n g rove seed l i n g s on N u sa Du a -N g u ra h Ra i -Ben oa Tol l Roa d P ro je c t.
2. Prospering the employees as the Company’s main assets. 3. Empowering local community in building common
Ecological Responsibility The Company realizes that its business activities bring
The Company’s Policy
impacts to the environment, in the areas of both the
Based on Circular Letter of the Directors No. 18/SE/2010
Head Office and operational. The efforts to boost the
on energy saving and environmental preservation, Jasa
positive impacts and minimize the negative impacts of
Marga makes every effort to implement the improvement
such business activities have always become the focus
of the quality of the environment by means of the
of the Company’s main improvement.
following policies:
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
prosperity.
199
PT Jasa Marga (Persero) Tbk. Corporate Social Responsibility Ecolog ica l Res p on si b i l i t y
Management Reports
Performance Highlights 2012
www.jasamarga.com
Free med i ca t i on a n d med i ci n e i n M er u ya U ta ra , 17 Ju l y 2012.
Corporate Governance
Management Discussion and Analysis
1. Saving energy by using new technology that reduces the use of energy within the Company. 2. Using products that refer to eco products (environmentally friendly products). 3. Making inventory of the trees during each project to decide the number of trees to be planted. 4. Planting trees to replace the trees that are required to cut down.
1. Use of solar cell energy, especially for street lighting on certain locations such as black spot areas so that such areas have lights at night. Over 2,500 solar cell lamps have been installed as public street lighting. 2. Control of pollution, greenhouse effect, along with other hazardous air emission. 3. Toll road forestation as one of the efforts to mitigate changes impacting environment. Over 161 thousand
Activities Carried Out
trees have been planted in 2012. This represents an
In toll road development, Jasa Marga always reviews the
increase by 3.1% compared to what was planned in
aspects of physical-chemical, social-economy, social-
the beginning of the year and an increase by 15.8%
culture, and public health. The Company implements
compared to tree planted in the previous year. The
these efforts by applying AMDAL to the toll road projects
amount invested for the said effort throughout the
beginning with selection of material by as much as
year 2012 was Rp 9.28 billion.
possible using recyclable material, to the efforts in reducing the impacts of increased air pollution resulted
Financial Impact from Activities
from the services.
To optimize program implementation along with environmental management activities, the Company
Other activities in response to the responsibility to the
has specifically allocated the cost for environmental
environment are as follows:
management,
which,
in
2012
environmental
Corporate Social Responsibility
management cost reached Rp 10.30 billion.
200
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corporate social responsibility in the aspects of labor
for the best remuneration that exceeds rules and
and occupational safety and health remains the
regulations on regional minimum wage (UMR), in
Company’s main focus. The Company is certain that
accordance with the Company’s capability and
as its key assets employees are the first customer that
without burdening employees working hours. The
should receive the best services in the fulfillment of their
lowest remuneration given by the Company is at Rp
rights in order that they are able to contribute optimally
2,979,000 higher by 94% compared to UMR in the
and that the existence of a company is maintained. The
respective area. 2. Freedom of assembly and association.
to improving employees’ professionalism along with
The Company supports the forming of various
proper compensation and benefit.
communities such as LKS Bipartit, Jasmapala, etc. In 2012, it was recorded that 99.99% of employees joined the communities supported by the Company. 3. Training and education through Jasa Marga
that reliable human resources are the major power
Development Center (JMDC).
to keep the business running. High commitment to
As of 2012, JMDC has facilitated education and
constantly adjust employees’ remuneration with national
training with an average of 135,216 total hours
economic indicators as well as individual performance,
of training each year. The number of participants,
while developing the capabilities and quality of human
which were divided into two categories, i.e.
resources are the Company’s priority. The optimization
operational and non-operational reached a total
of human resources management implementation
of 4,405 people, with an average training hour per
is carried out by the Company by means of following
person reaching 30.70 hours/person.
policies: 1. Complying with rules and regulations on labor. 2. Upholding labors human rights. 3. Providing program of competencies training and advancement. 4. Upholding gender equality and career path.
The Company’s Policy
4. Pre-retirement training for employees entering the pre-retirements period. 5. Proper remuneration as well as promotion for competent employees regardless of either gender or SARA (ethnicity, religion, race, and intergroup relations).
The implementation of human resources management
Financial Activities
within the Company is based on the following regulations:
The Company has been continuously carrying out proper
1. Law No. 13 of 2003 on Labor.
labor practices in order to protect the employees as its
2. Law No. 11 of 1992 on Pension Fund.
major assets. The cost for labor practices during 2012
3. Law No. 03 of 1992 on Employees Social Security
amounted to Rp 1.15 billion.
(Jamsostek). 4. Regulation of the Government of the Republic of Indonesia No. 14 of 1993. 5. Law No. 19 of 2003 on State-Owned Enterprises.
Information for Investors
As a company in the line of service, the Company realizes
Impact
from
Labor-Related
Corporate Profile
Labor
Occupational Safety and Health In order that the Company’s performance reaches high level of competitiveness nationally as well as regionally, and that the carrying out of the its activities in toll services
Activities Carried Out
is performed systematically and comprehensively, the
1. Proper remuneration.
Company hence needs to develop Occupational Safety
Jasa Marga is aware that the compensation
and Health Management System that is recognized in
and benefits provided bt a company affect the
both national and international scales. Occupational
conduciveness of employees performance and
Safety and Health Management System is intended
employees turnover. The Company therefore strives
to protect employees, customers, assets, business
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Company therefore has high concern and commitment
Human Capital Management
Labor and Occupational Safety & Health
201
PT Jasa Marga (Persero) Tbk.
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
Corporate Social Responsibility L a b or a n d Occup a tio na l S a fet y & H ea l t h
partners and environment from potential dangers that might arise.
In accordance with the 2012-2014 Joint Working
The Company’s Policy
Agreement between the Company and Jasa Marga Labor
The implementation of Occupational Safety and Health
Union, it is agreed that the Company shall implement
Management System (Sistem Manajemen Keselamatan
Occupational Safety and Health Management System that
dan Kesehatan Kerja – SMK3) within the Company is
is integrated with the Company’s existing management
based on the following regulations:
system. The carrying out occupational Safety and Health
1. Law No. 01 of 1970 on Occupational Safety.
activities is divided into several programs and activities
2. Law No. 13 of 2003 on Labor:
encompassing preventive, curative, promotive as well as
a. Article 86: labors/workers have the right to
Corporate Governance Corporate Social Responsibility
rehabilitative health programs.
obtain protection for occupational safety and health.
In accordance with the Joint Working Agreement between
b. Article 87: every company is obligated to apply
the Company and Jasa Marga Labor Union, it is agreed
Occupational Safety and Health Management
that the Company shall implement Occupational Safety
System that is integrated with the company’s
and Health Management System that is integrated with
management system.
the Company’s management system. The Company has
3. Regulation of the Government of the Republic
thus carried out the following activities:
of Indonesia No. 50 of 2012 on Implementation of Occupational Safety and Health Management
Activities Carried Out
System.
Until the end of 2012, various activities carried out
4. Certificate OHSAS 18001: 2007 in the practice of the Company’s Occupational Safety and Health.
among others were as follows: 1. Forming of organization of Guiding Committee of
5. Decision of the Directors No. 129/KPTS/2010 dated
Occupational Safety and Health (Panitia Pembina
22 July 2010 on Quality Policies and Occupational
Keselamatan dan Kesehatan Kerja – P2K3) at work
Safety and Health, Quality Management Manual
place in 2006.
and Guidelines on Continuous Improvement within
P2K3 is assisting body at work place to provide a
PT Jasa Marga (Persero) Tbk.
means for the cooperation between employer and
6. Decision of the Directors No. 162/KPTS/2010
202
Implementation of Occupational Safety and Health Management System
employees to nurture the cooperation, mutual
on Occupational Safety and Health Management
understanding
System
on
implementing occupational safety and health. The
Occupational Safety and Health for Construction
forming of the organization of P2K3 is based on Law
Projects within PT Jasa Marga (Persero) Tbk.
No. 01 of 1970 assigning P2K3 to give consideration
Manual
along
with
Guidelines
7. Circular Letter of the Directors No. 20/SE-DIR/2010 on Occupational Safety and Health.
and
effective
participation
in
in assisting the carrying out of the efforts to prevent work accident and work illness in the Company as
8. Regulation of State Minister for SOEs No. PER-01/
well as to provide effective explanation to workers.
MBU/2011 on Implementation of Good Corporate
In order to comply with the said Law, the Company
Governance (GCG) in SOEs:
has formed the Organization of P2K3 within PT Jasa
a. Article 36: Directors are obligated to make sure
Marga (Persero) Tbk. At present, the Branch Offices,
that the assets and location of business along
the Head Office and 1 Subsidiary have formed
with other facilities of the SOEs comply with
P2K3. Members of P2K3 management come from
rules and regulations related to occupational
various units involving workers representatives.
safety and health as well as environmental
Peningkatan Kompetensi Personil K3.
preservation.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate S oci al Responsibility Labor an d O ccup at i on al S afet y & Health
To guarantee the forming of safe work environment
of APD in toll road working environment, safety
needs the support from personnel that comprehend
regulations at toll gates, installation of OSH signs
occupational safety and health (OSH). Jasa Marga
and stickers, safety induction and OSH briefing
is committed to having Occupational Safety and
prior to commencing daily operational activities.
Health Experts in its work units. Occupational Safety
Sertifikasi OHSAS 18001 : 2007 dan Sertifikasi
and Health Experts is technical workforce having
SMK3.
special expertise taken from Department of Labor to
4. OHSAS 18001 : 2007 Certificate and SMK3
supervise the compliance with Law on Occupational
Certificate.
Safety. Occupational Safety and Health Experts are
The implementation of SMK3 in the Company in
authorized to enter to work place in accordance with
accordance with Government Regulation No. 50
the decision of their appointment, ask explanation
of 2012 needs to be proven with monitoring and
and/or information on the implementation of
evaluating performance by conducting an audit. As
occupational safety and health requirements at the
of the year under review, the Audit of Occupational
work place assigned, monitor, check, test, analyze,
Safety and Health Management System (Sistem
evaluate and give conditions as well as guidance
Manajemen Keselamatan dan Kesehatan Kerja
on occupational safety and health. In order to fulfill
– SMK3) has been conducted for nine (9) Branch
the above requirement, the Company has then
Offices and one (1) Subsidiary. Among all Jasa
conducted training on competencies as General
Marga Subsidiaries, only PT Jalantol Lingkarluar
OSH Experts, Construction OSH Experts and Safety
Jakarta (JLJ) that has conducted SMK3 Audit based
Officers for Head Office, each Branch and Subsidiary.
on Regulation of Minister of Labor of the Republic of
The number of the Company’s employees with OSH
Indonesia No. Per-05/MEN/1996 and received the
competencies of General OSH Experts, Construction
gold award.
Human Capital Management
(Alat Pelindung Diri – APD) in official vehicles, use
Information for Investors
2. Advancement of Competency for OSH Personnel.
OSH Experts and Safety Officers are 15, 18 and 29 shows that the findings/Corrective Action Request
safety and health.
(CAR) at the Branch Offices were mostly in the aspect
The regulations require the use of safety belt and
of P2K3/MR, concerning, among others, tasks and
helmet, availability of personal protective equipment
responsibilities of P2K3 that were not yet completely
Nusa Dua-Ngurah Rai-Benoa
Corporate Profile
3. Socialization of regulations related to occupational
Meanwhile, the result of OHSAS 18001:2007 Audit
Management Responsibility for Annual Report 2012
people, respectively.
Toll Road Project
Constructing towards the Future
Annual Report 2012
203
PT Jasa Marga (Persero) Tbk.
Management Reports
Performance Highlights 2012
www.jasamarga.com
Corporate Social Responsibility L a b or a n d Occup a tio na l S a fet y & H ea l t h
inadequate and lack of communication concerning OSH
Certification in Occupational Safety and Health
to employees and visitors. In cooperation with consultant
In line with one of its Mission, the Company is
PT SUCOFINDO, the Company has performed Diagnostic
committed to performing business activities based on
Assessment of Occupational Safety and Health to several
the implementation of Occupational Safety and Health
Branches and the Head Office to measure the extent of
principles correctly and consistently. The realization of
occupational Safety and Health implementation. The
the Company’s commitment is proven as it has obtained
result showed an average of 70% fulfillment out of the
the certification of international standard OHSAS 18001
minimum target to achieved, which is 85% indicating
: 2007 Occupational Health & Safety Assessment Series.
carried out, competencies of P2K3 members that were
excellent implementation based on the regulation of assessment result of SMK3 audit stipulated in Government Regulation No. 50 of 2012.
Financial Impact from Occupational Safety and Health Activities The Company continuously performs the practices of Safety and Health (OSH) to protect the employees as its key assets. In 2012, the Company has invested Rp
Social and Community Development Being a state-owned enterprise (SOE), Jasa Marga is tied
opportunities in order that small entrepreneurs
to the obligation to conduct Partnership and Community
become tough and independent. The program is
Development Programs (Program Kemitraan dan Bina
one of Jasa Marga’s supports in achieving the first
Lingkungan – PKBL), based on Regulation of the State
point of Millennium Development Goals (MDGs)
Minister for SOEs No. PER-05/MBU/2007 dated 27 April
i.e. eradicating extreme poverty and hunger. The
2007 on Partnership Program between State-Owned
activities of partnership program are carried out
Enterprises and Small Enterprises and Community
simultaneously with the Company’s operational
Development Program.
activities of pre and during construction, as well as in the period of toll road operation.
Not only does Jasa Marga comply with the said regulation, the Company also realizes that partnership
Through the Partnership Program managed by Jasa
with the people and community development is the form
Marga, people (prospective assisted SMEs) having
of mutualistic symbiosis which, in turn, brings the benefit
leading competencies may receive the following
back to the Company. Jasa Marga is thus committed to
facilities of partnership:
striving for social welfare.
•
Working capital loan intended for people residing in the Company’s operational areas
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
65,223,720 for carrying out OSH practices.
Activities Carried Out
with the following conditions:
In the year 2012, the various activities conducted were
99 In possession of wealth of maximum Rp
204
Annual Report 2012
among others:
200 million apart from land and building.
1. Partnership Program.
99 Having turnover amounting to maximum
The objectives of carrying out Partnership Program are to encourage economic activities and growth
of Rp 1 billion annually. •
Business Development in the form of training
and to enable the even distribution of development
and exhibition for assisted SMEs with good
by means of extending employment and business
track record of loan payment.
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate S oci al Responsibility S oci al an d Commun i t y D evelopment
In 2012, through its Partnership Program the Company has distributed funds amounting to Rp 48.07 billion to 4,994 assisted SMEs. Compared to those of the previous years, two figures each rose by 1.8% and 5.7% for funds distributed and number of assisted SMEs, respectively. The funds were distributed to seven (7) business sectors
Table Realization of Partnership Program in 2011 & 2012 and Plan in 2013 Reporting Period 2011 Fund Distributed
Plan 2012
2013
47,219,000,000
48,069,500,000
62,300,000,000
4,723
4,994
5,459
Assisted SMEs
KISAH SUKSES MITRA BINAAN JASA MARGA Success Story of Jasa Marga Assisted SME: SUROTO, FROM HAWKER TO OWNER OF HOUSE SHOP
Human Capital Management
scattered in six (6) provinces within the Company’s business areas.
of Jasa Marga that he deserved to get a loan. He received million Rupiah) to expand his business. With the capital, Suroto coordinated 25 fellow peddlers 25 to sell using the working capital he gave, and he would receive certain amount each night when they return from work. In less than two years, the number of
Information for Investors
working capital loan amounting to Rp 10,000,000 (ten
hawkers under his coordination was added to become 50 people. This made Suroto able to save Rp 2,000,000 each month, part of which was used to install the loan. In 2008, Suroto applied for another loan amounting to
Suroto
vendors while still focusing on hawkers shown in the additional 12 more hawkers.
In 2004, Suroto was suggested by his fellow peddler to come to the office of Jasa Marga Jakarta-Cikampek
With his perseverance, Suroto succeeded in speeding up
Branch in the hope of getting loan for his business. With
the completion of his installments and reapply for the next
strong determination and faith, Suroto went to Jasa Marga
loan of Rp 30,000,000 to develop his network by adding
office, yet result of interview and field survey by PKBL of
more street vendors. He added 60 street food stalls
Jasa Marga proved that his business was not qualified.
with a simple thinking: if a food stall employs 2 labors,
He went home empty handed yet with determination
60 food stalls would then provide work opportunity for
to improve and complete the requirements requested.
120 people, excluding the 12 hawkers, hence promoting
Suroto indeed wished to improve his quality of life.
people’s economic development. Because of the efforts in his business, at present Suroto’s income has reached
Not giving up easily, in 2005 Suroto came back to the
Rp 15,000,000 monthly.
office of Jasa Marga Jakarta-Cikampek Branch, believing this time he would successfully get a loan. Interview and
Suroto’s success is resulted from his hard work,
field survey were once again conducted by PKBL of Jasa
determination and honesty in addition to the trust given
Marga. And this time, Suroto managed to convince PKBL
by Jasa Marga. His hard work has successfully turned
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
target market. This time Suroto partnered with street
Corporate Profile
Rp 15,000,000 for further expanding his business, i.e.
205
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Corporate Social Responsibility Social a n d C ommun i t y D evel opm ent
him from a mere hawker to a business owner with a house shop, a car and permanent employees.
Management Reports
Jasa Marga’s Community Development Program is focused on several aspects, i.e. among others:
PROFILE OF ASSISTED SME
health improvement, education and/or training,
Name of Assisted SME
: Suroto
development of public facilities, development of
Name of Business
: Store “Toha Sari”
religious facilities, assistance for victims of natural
Address
: Jln. A. Yani, Bekasi,
disasters, natural preservation, and BUMN Peduli
West Java
Business Sector
: Trade
Line of Business
: Grocery
Phone
: (021) 82400519
(SOEs Care). a. Program of Assistance in Health Improvement Jasa Marga is committed to supporting the
improvement of public health by implementing
Condition Prior to Receiving Loan
programs in accordance with the preference
Year of Becoming Jasa
of local community. In view of this, several
: 2005
Marga Assisted SME
activities carried out by Jasa Marga were as
Asset Management Discussion and Analysis
2. Community Development Program.
: Renting Semi-Permanent Space
follows: 1. Free medication in commemorating Jasa
Monthly Turnover
: Rp 6,000,000
Marga’s anniversary for people residing
Number of Workforce
: 50 Hawkers, 1 Coordinator
in the surroundings of Head Office, all Branch Offices all across Indonesia and
Condition at Present
Subsidiary PT Jalantol Lingkarluar Jakarta.
Amount of Loan
: Rp 30,000,000 third loan in 2010
2. Free medication for 600 residents of Kelurahan Meruya Utara, organized by
Asset
: Rp 180,000,000
Subsidiary PT Marga Lingkar Jakarta in
Monthly Turnover
: Rp 60,000,000
cooperation with Policlinic Bhakti Husada
Number of Workforce
: 60 Street Food Stalls and
Jasa Marga.
Corporate Governance
12 Hawkers Target Market
: Domestic
Method of Selling
: Open Shop, through Street Vendors and Hawkers
Table Distribution of Fund for Community Development Program in 2012 Program of Assistance in Health Improvement
Corporate Social Responsibility
No.
Branch
1.
Head Office
255,508,000
2.
Jagorawi
147,569,458
3.
Jakarta-Cikampek
108,080,000
4.
Jakarta-Tangerang
194,955,500
5.
Cawang-Tomang-Cengkareng
6.
Purbaleunyi
128,330,500
7.
Surabaya-Gempol
125,204,000
8.
Semarang
101,208,000
9.
Palikanci
106,208,000
10.
Belmera
Annual Report 2012
87,903,000
132,139,450 1,387,105,908
TOTAL 206
Cost (Rp)
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate S oci al Responsibility S oci al an d Commun i t y D evelopment
b. Program of Assistance in Education/Training. good education. Hence, Jasa Marga also contributes to a number of activities of people empowerment through education. One of the Company’s contributions in the field of education and in relation to its operational activities is educating on the importance of obeying traffic regulations at elementary schools located in various areas in DKI Jakarta, Banten, West Java, Central Java, East Java and North Sumatera. With the book entitled “Aku Tertib Berlalu Lintas” (I Obey Traffic Regulations) and the socialization in many schools, Jasa Marga expects that the next generation will grow to be law-abiding and disciplined citizens on the road. During 2012, the activities carried out in the program of assistance in education and training among others included
Human Capital Management
Jasa Marga is certain that the main foundation that forms the competencies of the people of a nation begins with
giving scholarship, supporting the renovation of school buildings, and assisting the provision of facilities and equipment to support the teaching and learning activities.
Branch
Cost (Rp)
1.
Head Office
871,621,848
2.
Jagorawi
3.
Jakarta-Cikampek
303,993,700
4.
Jakarta-Tangerang
523,294,010
5.
Cawang-Tomang-Cengkareng
6.
Purbaleunyi
53,217,142
43,094,000 149,578,000
7.
Surabaya-Gempol
8.
Semarang
207,628,700
92,718,000
9.
Palikanci
293,673,750
10.
Belmera
77,023,200 2,615,842,350
TOTAL c. Program of Assistance in Developing and Renovating Public Facilities.
In the development of public facilities, Jasa Marga takes part in making social investment by supporting the public
Corporate Profile
No.
Information for Investors
Table Distribution of Fund for Community Development Program in 2012 Program of Assistance in Education/ Training
facility development in various areas in its operational surroundings. One of the activities the Company carried out was, through Jakarta-Cikampek Branch, providing pavement for scrapping to fix the road for the residents of
In 2012, other activities included in the program of assistance in developing and renovating public facilities including among others development of frontage road, pavement of frontage road, making of footpath, provision of garbage trolleys, provision of pos yandu (integrated health post) equipment, development of public bridges, development of water channel, development of orphanage for disabled children, territorial survey program, management of RW (Rukun Warga – Community Unit), provision of three-wheeled vehicles for garbage transport, heightening and pavement of roads, making of dykes, making of pos kamling (neighborhood security post).
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Jatibening Baru.
207
PT Jasa Marga (Persero) Tbk.
Management Reports
Performance Highlights 2012
www.jasamarga.com
Corporate Social Responsibility Socia l a n d C om m un i t y D evel opm en t
Table Distribution of Fund for Community Development Program in 2012 Program of Assistance in Developing and Renovating Public Facilities No.
Branch
Cost (Rp)
1.
Head Office
78,460,000
2.
Jagorawi
3.
Jakarta-Cikampek
4.
Jakarta-Tangerang
10,366,950
5.
Cawang-Tomang-Cengkareng
40,296,000
6.
Purbaleunyi
61,556,314
7.
Surabaya-Gempol
20,570,000
8.
Semarang
201,608,000
9.
Palikanci
382,568,800
10.
Belmera
89,732,500
462,641,300
1,347,799,864
TOTAL d. Program of Assistance in Religious Facilities.
Management Discussion and Analysis
Freedom of worship is also supported by Jasa Marga as worship is the implementation of holding a religious belief. Through programs such as building religious facilities, Jasa Marga makes effort to contribute to this program by allowing the community to analyze their general needs. Jasa Marga has shown its contribution by supporting the renovation of As Salam Mosque located on Jln. Ciburial Dago Pakar Bandung. In addition to building houses of worship, Jasa Marga cares for the victims of natural disasters recently struck. As they hit unexpectedly, natural disasters give chance for Jasa Marga to show its social awareness. Contributing to the flood relief in Jakarta was one of Jasa Marga’s awareness. e. Program of Natural Preservation. Jasa Marga highly supports MDGs point 7 ensuring environmental sustainability. Realizing that operational activities bring impacts to the environment, Jasa Marga seriously manages the environment so that sustainability is achieved Corporate Governance
for more years to come. Several activities of environmental preservation carried out were as follows: 1. First planting of 1,000 mangroves in the area of Benoa Port to help overcome abrasion. 2. Making of biopori holes as water absorption to anticipate high rainfall and the potential flooding in Kampung Warung Mangga of Kelurahan Panunggangan Kecamatan Pinang Kota Tangerang. 3. Distribution of seeds of fruit trees for people living in toll road surroundings. 4. Go Green Reforest Indonesia, a program initiated by Panin Bank in cooperation with Jasa Marga to plant 2,300 rain trees at the side of Semarang Toll Road. Table Distribution of Fund for Community Development Program in 2012 Program of Natural Preservation
Corporate Social Responsibility
No.
Branch
1.
Head Office
2.
Jagorawi
3.
Jakarta-Cikampek
54,972,500
4.
Jakarta-Tangerang
152,318,630
5.
Cawang-Tomang-Cengkareng
6.
Purbaleunyi
267,454,900
7.
Surabaya-Gempol
117,902,400
8.
Semarang
178,985,000 -
14,250,000
-
9.
Palikanci
23,667,050
10.
Belmera
96,642,700 906,193,180
TOTAL 208
Cost (Rp)
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate S oci al Responsibility S oci al an d Commun i t y D evelopment
f.
Program of BUMN Peduli (SOEs Care). Apart from partnership and community development programs mentioned above, Jasa Marga also contributed in the cooperation of BUMN Peduli (SOEs Care) program coordinated by State Minister for SOEs. In 2012, there were eight
State Minister for SOEs No. S-69/ MBU/2011
Dated
27 December 2011
2
State Minister for SOEs No. S-125/ MBU/2012
16 March 2012
3
State Minister for SOEs No. S-648/ MBU/2012
14 November 2012
Concerning
Activity
Cost (Rp)
Coordinator
BUMN Peduli in Greening the river basin in 2011
Promoting tree planting activity to support planting 1 billion trees program and promoting natural preservation
Bazaar of BUMN Peduli 2012
Program of poor areas handling and poverty eradication in 400 locations in Java and outside Java Island
3,000,000,000
PT BRI (Persero) Tbk.
Community Development 2012
Program to support the activities of SOEs Develop the Villages, sector Bazaar
1,310,871,244
PT BRI (Persero) Tbk.
Program to support the activities of SOEs Develop the Villages, sector Natural Disaster
2,000,000,000
PT BNI (Persero) Tbk.
Program to support the activities of SOEs Develop the Villages, sector Education
2,000,000,000
PT PGN(Persero) Tbk.
Program to support the activities of SOEs Develop the Villages, sector Disadvanted Regions
2,000,000,000
PT Pertamina (Persero) Tbk.
500,000,000
Constructing towards the Future
PT Permodalan Nasional Madani (Persero)
Annual Report 2012
Information for Investors
1
Based on Letter of
Corporate Profile
No.
Management Responsibility for Annual Report 2012
Table Jasa Marga’s Participation in BUMN Peduli (SOEs Care) 2012
Human Capital Management
(8) activities under BUMN Peduli supported by Jasa Marga.
209
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Corporate Social Responsibility Social a n d C om m un i t y D evel opm en t
No.
Based on Letter of
Dated
Corporate Governance
Management Discussion and Analysis
Management Reports
Concerning
Corporate Social Responsibility
Cost (Rp)
Program to support the activities of SOEs Develop the Villages, sector Public Facilities and Livable Housing
3,000,000,000
Total
13,810,871,244
Coordinator
PT Hutama Karya (Persero)
Financial Impact from Activities By allocating fund taken from the its net profit, the Company has implemented its awareness for Partnership Program and Community Development Program each amounting to Rp 48.08 billion and Rp 21.10 billion, respectively.
Responsibility to Customers The Company regards its consumers or customers as
JMTIC is accessible from various communication
prioritized segment of the stakeholders. Protection to
lines as follows:
the customers, i.e. the toll road users, is implemented
a. Call center JMTIC 021-80880123.
holistically using the method of Service Excellence with
b. Website www.jasamargalive.com.
the main priority lies in the safety aspect of workers,
c.
Mobile application at m.jasamargalive.com.
working area, equipment and environment. 3. Measurement of customers satisfaction used as
Activities Carried Out 1. Implementing
integrated
reference in perfecting the Standard of Service service
system
in
Excellence.
accommodating customers’ needs for the services based on the Minimum Level of Service stipulated in
Financial Impact from Activities
Regulation of the Minister of Public Works No. 392/
The cost for activities related to responsibility to the
PRT/M/2005 dated 31 August 2005.
customer in the year 2012 amounted to Rp 25.99 billion.
2. Providing information on the services while
210
Activity
supporting customers’ security.
More detailed explanation related to the customers is provided in Customers Focused.
Through its call center known as Jasa Marga Traffic Information Center (JMTIC), Jasa Marga provides the
In addition to the explanation provided in this part, the
means of communication that records and follow up
Company also presents Sustainability Report 2012
questions and complaints from toll road users.
separated from Annual Report 2012.
Annual Report 2012
Constructing towards the Future
Human Capital
Management ANNUAL REPORT 2012
www.jasamarga.com
PT Jasa Marga (Persero) Tbk.
Development of Organization
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
Jasa Marga is committed to continuously carrying out employees’ development program intensively in order to produce Jasa Marga Individuals that are reliable and competent, especially in toll road industry.
Corporate Social Responsibility
In the late 2012, the Company has planned the change in organization following the ever-growing dynamics of the Company in line with the massive plan of the Government to develop toll roads in Indonesia and in accordance with Law No. 38 of 2004 on Road and Government Regulation No. 15 of 2005 on Toll Roads requiring that the development of new toll roads be managed by special purpose venture (SPV). This causes Jasa Marga to transform from Operating Company to Operating Holding Company. Jasa Marga’s organization development is carried out using the approach of 4Cs model (Competence, Congruence, Commitment and Cost) supported by powered IT to reach business performance in accordance with its Vision, Mission and Values along with the Company’s business strategic plan while considering the change in business environment and growth of toll road industry.
212
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Jasa Marga has anticipated the plan of organization change by conducting Jasa Marga Human Capital (HC) development to support organization effectiveness and performance. System development is carried out using the approach of 9 Strategic Processes of HC System. Diagram Nine Strategic Processes of Jasa Marga HC System
Human Capital Management
Human Capital Management D evel op men t of O rganization
BUSINESS PERFORMANCE
HC Admin dan Services
Industrial Relations
Employees Recruitment and Selection
PostEmployment Management
INFORMATION TECHNOLOGY VISION & MISSION
ORGANIZATION DESIGN
Information for Investors
Training and Development
Career Management
VALUES & PARADIGM
BUSINESS STRATEGIC PLANS
CHANGE IN STRATEGIC ENVIRONMENT AND GROWTH OF TOLL ROAD INDUSTRY
Nine Processes of Jasa Marga HC Strategic System: 1. Organization Design 2. Employees Recruitment and Selection 3. Training & Development 4. Remuneration 5. Performance Management 6. Career Management 7. Industrial Relations 8. Post-Employment Management 9. HC Administration & Services
Corporate Profile
Remuneration
Labor Environment
COST
Performance Management
COMMINTENT
CONGRUENCE
COMPETENCE
Stakeholders’ Satisfaction & Stakeholders Engagement
In line with the Corporate Long-Term Plan (Rencana Jangka Panjang Perusahaan – RJPP) 2010-2014, the management of human resources within Jasa Marga is based on the concept of Competency Based Human Resources Management and compiled into competency model equipped with Competency Dictionary of Jasa Marga Human Capital to be used as guidelines for all Jasa Marga Individuals to perform in the Company. The mapping of competency requirement that each Jasa Marga Individual should have makes gap analysis easier hence the Company is able to decide appropriate policies for Human Capital development by providing training as well as other suitable development method. The formulation of competencies in the Jasa Marga Human Capital Competency Dictionary, which represents the combination of hard skills and soft skills, has undergone comprehensive discussion process in identifying and determining competency requirement in each function within Jasa Marga.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
(CBHRM). Each position has different competency requirements. The competencies in each position are then formulated
213
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Human Capital Management Develop m en t of Or g a ni z a t i on
Diagram Competency Dictionary of Jasa Marga Human Capital as the Guidelines for Jasa Marga Individuals to Perform in the Company
LEADERSHIP COMPETENCIES
Management Discussion and Analysis
Management Reports
• •
Team Leadership Decisiveness
CORE COMPETENCIES 1. 2. 3. 4.
Business Acumen
Achievement Orientation Continuous Learning Partnership Building Integrity
Customer Service Orientation
JOB COMPETENCIES 1. 2. 3. 4. 5. 6.
Analytical Thinking Concern for Order and Quality Impact and Influence Initiative Conceptual Thinking Information Seeking
1. 2. 3. 4. 5. 6.
IT Skills Communication Skills Organization Knowledge English Proficiency Risk Awareness Awareness of Occupational Safety and Health (OSH) 7. Awareness Quality Management 8. Awareness of Service Standard 9. Execution of Strategic Program
Corporate Governance
TECHNICAL COMPETENCIES Leadership Competencies: Competencies related to managerial accountability and the position as a leader. Leaders with these competencies are capable of giving appropriate directions to the team and creating conducive work climate and culture, encouraging and leading the process of change, so as to encourage the team to work optimally. Core Competencies: Competencies translated from the Company’s Vision, Mission and Values, and they have to be reflected in the entire Corporate Social Responsibility
employees within the organization.
214
Job position Competencies: Competencies related to specific functions within the organization and they have to be reflected in the employees having job with specific functions. Technical Competencies: Competencies related to technical capabilities of the work assigned.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Jasa Marga realizes that human resources are the
Such condition demands the Company’s readiness in the
key element that supports performance productivity
provision of highly competent and competitive human
of the Company. As business competition gets tighter,
resources.
people are demanded to always develop themselves. In response to the new and global challenges, Jasa Marga
Integrated
is committed to continuously carrying out employees’
management is expected to create reliable and
development program intensively in order to produce
professional human resources in terms quantity and
Jasa Marga Individuals that are reliable and competent,
expertise, so as to realize the Company’s commitment to
especially in toll road industry. This commitment is
giving the best to the customers as well as to support the
shown by assigning its employees in various education
success of the Company in implementing the determined
and training as well as human resources development
strategies.
and
sustainable
human
resources
Human Capital Management
Development of Human Capital
programs. prepare “Future Leaders of Jasa Marga”, the Leadership
including toll roads in Indonesia has brought opportunities
Development Program carried out by the Company is as
as well as challenges in human resources development.
follows:
Diagram Leadership Development Program Carried Out by Jasa Marga
CORPORATE
Leadership
Leader of Company Subsidiary
BUSINESS FUNCTIONAL TEAM
Leader of Division/ Bureau/ Branch/ Project
Ethnic & Communication
Senior
Performance &
Leadership
Change
Advance
HRD & Monitoring
Junior
Trust & TeamWork
Basic
Personality
Leadership
Leader of Functional Work Unit
Leadership
Team Leader
INDIVIDUAL
Leadership
Individual Leader
26
Corporate Leadership
SOE
28
32
36
40
FOCUS OF PROGRAM
45
Level of Sub Department Head
Level of Department Head
Management Responsibility for Annual Report 2012
Age Pratama I Staff
Corporate Profile
TRAINING
Information for Investors
Based on the Company’s Leadership Strategic Plan to The acceleration of the development of infrastructure
Level of Bureau, Division Head/Branch Manager/ Subsidiary Director
Constructing towards the Future
Annual Report 2012
215
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Structure of Human Capital Management The management of the Company’s human resources is carried out by Management and Organization Development (Pengembangan Organisasi dan Manajemen – POM) Bureau, Human Resources Management (Manajemen Sumber Daya Manusia – MSDM) Bureau, and Jasa Marga Development Center (JMDC) Unit. The main responsibilities of each
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Bureau/Unit are as follows:
216
Pom
Msdm
Jmdc
Carrying out the activities of planning, implementation, and control of organization development and development of human resources, creation and maintenance of human resources management system, planning, implementation and control of learning program, and risks analysis of impact of organization development and human resources management system, while considering prevailing rules and regulations as well as the Company’s financial capability, along with the principles of Good Corporate Governance, so that the Company’s organization develops well and the empowerment of Employees is maximized.
Carrying out the activities of recruitment, selection, placement and industrial relations, Employees’ remuneration payment and welfare, services and payment of postemployment including Retirement, health insurance management, number of employees control, creation of work program and Employees budget, Employees data management, Employees law enforcement and discipline, settlement of Employees cases including through third party (Labor Union, Labor Institutions, and Judicial Institution), administration of evaluation of Employees suspected to commit disciplinary violation, monitoring of Pension Fund performance, and analysis of human resources management risks, while considering the system applied and prevailing rules and regulations, in order to fulfill the rights and obligations of both Employees and the Company as well as to nurture harmonious industrial relations.
Managing learning center as the unit carrying out training and learning as well as other management services related to human resources management within the Company including its Subsidiaries in particular and other companies in general, developing learning center to improve competitiveness by providing high quality of services in national/international scales, identifying opportunity and program feasibility, creating business plan and controlling risks, managing resources and finance along with other assets, in order to support the Company’s business and sustainable growth, by considering the best practice in the industry, prevailing rules and regulations as well as policies, ethics and governance.
The organizational structures of the said Bureaus/Unit are as follows: Organizational Structure of Management and Organization Development Bureau
Management and Organization Development Bureau
Human Resources and Organization Plan Department
Human Resources Management and Organization Development Sub Department
Annual Report 2012
Human Resources Regulation Analysis Sub Department
Constructing towards the Future
Human Resources Development and Training Department
Human Resources Development and Training Plan Sub Department
Group of Senior Staff
Implementation of Human Resources Development and Training Sub Department
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Human Capital Management S t ruct ure of H uman Cap i t al Management
Human Resources Management Bureau
Remuneration and Data Management Department
Industrial Relations Department
Group of Senior Staff
Human Capital Management
Organizational Structure of Human Resources Management Bureau
Administration and Finance Department
Program Executor Department
Group of Professionals
Assessment and Management Services Sub Department
Marketing and Program Planning Sub Department
Training Implementation Sub Department
Human Resources and General Affairs Sub Department
Accounting and Finance Sub Department
Brief Profile of Head of POM Bureau, Head of MSDM Bureau and Head of JMDC Unit
Corporate Profile
Jasa Marga Development Center Unit
Information for Investors
Organizational Structure of Jasa Marga Development Center Unit
Brief profile of Head of POM Bureau is available on page 259.
Management Responsibility for Annual Report 2012
Brief profile of Head of MSDM Bureau is available on page 260. Brief profile of Head of JMDC Unit is available on page 260.
Constructing towards the Future
Annual Report 2012
217
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Profile of Jasa Marga Human Capital To support its sustainable growth, the Company currently
Chart Composition of Permanent Employees by Type
makes the efforts to optimize the empowerment of its
of Work
human resources. In 2012, the Company employed 5,075 people, which showed a decrease by 7.9% compared to the number of employees in the previous 3,606
year reaching 5,154 people. Over the past few years,
3,471
Management Discussion and Analysis
Management Reports
the number of employees of the Company continued to decrease as the number of employees in 2010 and 2009 were 5,303 and 5,443 respectively. Table Number of Jasa Marga Permanent Employees
Non-Operasional
2009
2010
2011
2012
5,443
5,303
5,154
5,075
Composition of Employment Status
Employees
by
Table Composition of Employees by Employment In the past five years, the ratio of number of employees
Status Employment Status
to number of kilometers representing the length of toll roads operated by the Company continued to improve with the Company’s efforts in increasing efficiency of human resources management along with the
2011
2012
Permanent
5,154
5,075
Outsourced
1,993
2,939
modernization of transaction services by implementing
of e-Toll Card service to improve transaction services as Corporate Governance
2012
Operasional
forward, the Company will be expanding the coverage
Corporate Social Responsibility
2011
2009-2012
electronic payment and the use of e-Toll Card. Going
218
1,604
1,548
Chart Composition of Employees by Employment Status
well as to make efficient the cost of toll collection while
5.075
at the same time redistribute Jasa Marga’s employees to
5.154
the Subsidiaries that will be constructing and operating
1.993
the new toll roads.
Composition of Permanent Employees by Type of Work
2011
Table Composition of Permanent Employees by Type of Work 2011 Type of Work
Permanent Outsourced
2012
Number of Proportion (%) People
Number of People
Proportion (%)
Operational
3,606
70
3,471
68
NonOperational
1,548
30
1,604
32
Total
5,154
100
5,075
100
Annual Report 2012
2.939
Constructing towards the Future
2012
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Human Capital Management Prof i l e of J as a Marg a H uman Capital
The Company guarantees the rights of both permanent and non-permanent employees. The benefits of both types of
Human Capital Management
employees are as follows: Table Benefits of Jasa Marga Employees The Company’s Policy I.
Non-Permanent Employees
Permanent Employees
PKWT
OS
Services
1.
Information
√
√
√
2.
Hospital Guarantee Letter
√
√
√
3.
Legal Assistance
√
√
-
4.
Social Security
√
√
√
Benefits
1.
Education Allowance
√
-
√
2.
Bonus/Incentive
√
-
-
3.
Leave Allowance
√
-
-
4.
Regional Minimum Wage
√
-
-
5.
Reward
√
√
√ (Petugas Operasional Terbaik)
6.
Comparative Study Domestic/Abroad
√
-
-
7.
Training
√
√
√
Information for Investors
II.
(Bidang Tugas Tertentu) Others & Principal
1.
Religious Allowance
√
√
√
2.
Salary
√
√
√
3.
Uniform
√
√
√
Corporate Profile
III.
Notes: PKWT: Perjanjian Kerja untuk Waktu Tertentu (Temporary Work Agreement) OS: Outsourced
Composition of Permanent Employees by Level of Education indicates the Company’s success in the process of recruitment and development of employees’ academic competencies. Table Composition of Permanent Employees by Level of Education Education Level
2011 Number of People
2012 Proportion (%)
Number of People
Proportion (%)
S3
0
0
0
0
S2
6
0.1
5
0.1
S1
463
9
510
10
20
0.4
16
0.3
SMA
4,411
85.5
4,335
85.4
SMP
125
2.4
113
2.2
SD
129
2.5
96
1.9
5,154
100
5,075
100
Akademi
Total
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
The composition of Jasa Marga Employees by education in 2012 showed some changes compared to that of 2011. This
219
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Human Capital Management Prof ile o f J a s a M a r ga H um a n Ca pi t a l
Composition of Permanent Employees by Position
Composition of Permanent Employees by Gender
Table Composition of Permanent Employees by Level
Table Composition of Permanent Employees by
2011
Management Reports
Level
Number of People
Proportion (%)
Number of People
Proportion (%)
II
80
1.6
83
2
III
149
2.9
148
3
IV
209
4.1
231
5
V
198
3.8
227
4
VI
1,289
25
1,277
25
VII
3,095
60.1
3,003
59
VIII
134
2.6
106
2
5,154
100
5,075
100
Management Discussion and Analysis
Jumlah
Gender
2011
Male
2012
4,094
3,993
Female
1,060
1,082
Total
5,154
5,075
Composition of Permanent Employees by Age Table Composition of Permanent Employees by Age 2011
Remarks: Level II
Head of Bureau, Head of Division, Head of Unit, Senior
0
44
0.9
88
1.7
31-35
529
10.2
358
7.1
36-40
1,096
21.2
1,068
21
Head of Sub Department, Junior
41-45
1,300
25.2
1,238
24.4
Staff.
46-50
1,336
26
1,382
27.2
Pratama I Staff, Head of Toll
>51
793
15.3
897
17.7
Gate, Secretary to Director,
Total
5,154
100
5,075
100
Sub Division, Mid-Level Staff. Level IV
Proportion Number Proportion (%) of People (%)
1.9
Head of Department, Head of
Treasury II.
≤25
2012
0
Branch Manager. Level III
Age
Number of People 100
Staff, Project Manager, and
Level V Corporate Governance
Gender
2012
26-30
Head of Shift, Administration
Recruitment of Human Resources
Officer, Administrator of Branch
In line with the Company’s dynamics and ever-increasing
Office, Administrator of Head
challenge and complexity of tasks, Jasa Marga requires
of Division, Information and
excellent labors in terms of quality and quantity.
Communication Officer.
Throughout the year 2012, the Company conducted the
Level VII
Toll Collector, Traffic Service
recruitment as follows:
Level VIII
Messenger, Driver.
Level VI
Corporate Social Responsibility
Officer, Tata Usaha, Technician.
220
The above table shows that in 2012, by level, the Company was dominated by employees of level VII representing 59% of the total number of employees.
Annual Report 2012
Constructing towards the Future
Table Recruitment of Jasa Marga Employees in 2012 Level
Head Office
V
66 employees
VI
1 employees
Total
67 employees
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
In conducting recruitment, the Company worked together with PPM Manajemen, a management institution with over 40 years of experience in recruitment and selection, and has assisted many prominent companies as well as organizations in filling out the need for employees at managerial level along with professional staff. The Company is committed supporting equality in the selection of human resources. The Company also provides equal opportunity to all applicants to become prospective employees professionally disregarding ethnicity, religion, race, group, gender and physical condition.
Human Capital Management
Human Capital Management Prof i l e of J as a Marg a H uman Capital
In order to realize its Vision and Mission, the Company and to support its business process, Jasa Marga evenly provides the opportunity for the entire employees to receive education and training programs. Training programs for employees are designed in accordance with individual needs for development to support the success of performance and career. Furthermore, training program to prepare future leader of the Company is conducted through management development program. Employees’ learning and training system is basically synchronized with the Company’s requirements and is derived from the Company’s strategies. The training programs are carried out by Jasa Marga Development Center.
Information for Investors
Training and Development Programs
The advancement of professional skills of human resources is realized by assigning employees to participate in a series of educations and trainings. In 2012, education through seminars/discussions/courses/trainings for Jasa Marga employees
Table Training Conducted by Jasa Marga in 2012 No. 1.
Type of Competencies Leadership
Participants from Head Office
Participants from Branch Office
Number of Training Programs
425
25
40
2.
Ethics & Corporate Culture
666
1673
112
3.
Competency Development
832
732
169
Professional Standard Total
33
21
22
1,956
2,451
343 Management Responsibility for Annual Report 2012
4.
Corporate Profile
is presented in the table as follows:
Constructing towards the Future
Annual Report 2012
221
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Human Capital Management Tra ining a n d D evelop m en t P rogr a m s
Chart Number of Trainings Conducted by Jasa Marga
Chart Number of Training Participants in Trainings
in 2012
Conducted by Jasa Marga in 2012
36%
Professional Standard
Professional Standard
Management Reports
Competency Development
6%
1%
10% Leadership
49%
53%
Management Discussion and Analysis
12%
Leadership
Competency Development
Values, Ethics & Corporate Culture
33%
Values, Ethics & Corporate Culture
In addition to education and training, employees’ development program is also carried out through employees’ transfers (promotion and rotation). In 2012, for the purpose of developing employees of both Head Office and Branch Offices, 141 employees were promoted and 269 employees were rotated. The number of employees recruited in 2012 was 67 people.
Human Resources Performance Appraisal As the leader in the industry of toll road operation and as a public company, Jasa Marga has made a commitment to
Corporate Governance
constantly achieving excellent performance. To realize the commitment, the Company’s productivity needs to be fulfilled by making available competent human resources. Jasa Marga hence implements new business strategy plan to increase the empowerment and the role of its human capital and to accomplish the determined business objectives by applying Employees Performance Management System. The implementation of Employees Performance Management System is intended to enhance and improve the performance of the organization, working units and labors by improving the quality of work results and work process using more objective and measurable method.
Flow of Process of Performance Appraisal Employee Appraised creates Work Targets Plan followed by completing Work Performance Appraisal Form and submits it Corporate Social Responsibility
to the Appraiser. Based on the form, Appraiser checks and approves Work Targets Plan.
222
Employee makes personal appraisal to the Work Targets Plan and submits it to the Appraiser. If after giving appraisal Appraiser finds that the predicate is not “Very Good”/“Poor”, the form is then returned to the Employee Appraised. If the Employee Appraised agrees, appraisal process is then completed, or else the Employee Appraised may submit disagreement to the Appraiser. If the disagreement is accepted, correction will then be made, or else the Employee Appraised may submit the disagreement to Appraiser’s Superior.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Human Capital Management Trai n i n g an d D evel op men t P rograms
• • • •
Make. Change. Delete. Submit.
• •
Approve Employee’s PA (Employee’s Superior)
• • •
Change Performance Appraisal (Employee)
Approve Work Targets (Employee’s Superior)
• •
Appraise Performance (Employee)
Review & Approve. Revise. Evaluate.
Respond to PA (Employee)
Review & Reject. Approve.
• •
• • •
Review. Skip Review.
Approve PA Change (Employee’s Superior)
Work Target. Assessment. Submit.
• •
Information for Investors
Create Work Targets (Employee)
Human Capital Management
Diagram Flow of Process of Employees Performance Appraisal (PA)
Review & Reject. Approve.
Approve. Reject.
In 2012, there have been promotions and rotations of Jasa Marga employees to reward those having good performance as well as to conduct the selection of human resources to put the right man on the right place. Employees’ job promotions and rotations in Jasa Marga in 2012 are seen the following table:
Corporate Profile
Employees Promotions, Rotations and Rewards
Promotion
Head Office
Branch Office
Project Office
Total
Promoted from Level IV to Level III
2
8
3
13
Promotion in Level III (from functional to structural)
1
2
1
4
Promoted from Level III to Level II
2
2
2
6
Promotion in Level II (from functional to structural)
1
-
-
1
Total
6
12
6
24
Table Promotion and Rotation of Jasa Marga Employees in 2012 Activity
Total
Promotion
141 employees
Rotation
269 employees
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Table Promotions of Jasa Marga Employees in 2012
223
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Human Capital Management Tra ining a n d D evelop m ent P rogr a m s
To show its appreciation to the employees that have dedicated their service, the Company presents the employees with two types of rewards, i.e. post-employment rewards and loyalty rewards. In 2012, post-employment rewards were presented to 129 retired employees, whereas loyalty rewards were awarded to 1,125 employees with period of services of 10, 15, 20, 25 and 30 years.
Management Reports
Table Loyalty Rewards for Jasa Marga Employees in 2012 Period of Service
Number of Reward Receivers
10 Years
31
15 Years
288
20 Years
198
25 Years
450
30 Years
158
Management Discussion and Analysis
Total
1,125
Industrial Relations and Freedom of Association Jasa Marga has always been committed to preserving good industrial relations between employees and the Management, and has always respected as well as recognized employees’ rights and obligations in accordance with prevailing rules and regulations. Freedom of association is given as a means of realizing employees’ good and ethical aspiration. The realization of this commitment is proven in the forming of the Company’s Labor Union in 1999 under the name of Serikat Karyawan Jasa Marga (SKJM – Jasa Marga Labor Union), in which all Jasa Marga employees become the members. To date, Jasa Marga never experiences any strike, protest or any other labor unrest that disrupts the Company from operating normally. This condition is enabled due to the mutual understanding and respect between Jasa Marga
Corporate Governance
Management and SKJM as partners supporting each other. In 2012, the Company and SKJM have conducted a discussion on the principles of agreement stated in the Minutes of Bipartite Meeting of Joint Working Agreement (Perjanjian Kesepakatan Bersama – PKB) 2012-2014 dated 14 June 2012. The said PKB has been registered to the Directorate General for Industrial Relations and Social Security of the Ministry of Labor and Transmigration of the Republic of Indonesia in Jakarta based on the Decision of the Director General for Industrial Relations and Social Security No. Kep. 137/PHUSK.PKKAD/PKB/VIII/2012 on Registration of Joint Working Agreement between PT Jasa Marga (Persero) Tbk. and Jasa Marga Labor Union dated 14 August 2012.
Work Environment Corporate Social Responsibility
Conducive work climate and environment supports the enhancement of employees’ performance and productivity. The
224
Company is therefore committed to continuously creating safe and comfortable working atmosphere in order to increase the work quality of its employees.
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Company
ensures
the
implementation
of
Occupational Safety and Health Management System
Welfare Improvement Employees’ welfare has always been Jasa Marga’s
(Sistem Manajemen Keselamatan dan Kesehatan Kerja
concern to make employees feel secured and comfortable
– SMK3) recognized both nationally and internationally.
at work, as it will motivate each individual to keep
SMK3 is aimed at protecting employees, customers,
enhancing his/her work performance and productivity.
assets, business partners along with the environment
Jasa Marga has provided its permanent employees
from potential dangers that may occur. The Company has
with welfare programs that comply with the Provincial
formed Guiding Committee of Occupational Safety and
Minimum Wage. The programs include employees social
Health (Panitia Pembina Keselamatan dan Kesehatan
security; health allowance; pension plan; tax allowance;
Kerja – P2K3) within the Company. At present, the
religious holiday allowance; leave allowance; high risk
Branch Offices, the Head Office and 1 Subsidiary have
incident insurance (only for operational employees);
formed P2K3. Members of P2K3 management come
death compensation; uniform; education, housing or
from various units involving workers representatives.
car loans; company car; training and development;
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
The
Corporate Profile
Information for Investors
Human Capital Management
Human Capital Management Trai n i n g an d D evel op men t P rograms
225
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Human Capital Management Tra ning a n d D evelop m ent P rogr a m s
work pollution prevention (only for toll collectors); bonus
with Decision Letter No. KEP-379/KM.06/2004 dated
(based on employees performance) and facilities for
14 September 2004 on the Company’s Regulation and
sport, arts, religious as well as recreational activities.
Pension. The employees are retired at the age of 56 and those choosing the early retirement may do so at the age
Jasa Marga is highly committed to always giving fair
of 45.
Corporate Governance
Management Discussion and Analysis
Management Reports
and equal treatment to all its employees. The Company provides equal opportunity to every single employee for
Employees’ contribution for pension plan is 3% of base
self-development and giving the best potentials to Jasa
salary while the remaining 13.7% is covered by the
Marga.
Company. In addition, the Company also provides postemployment benefit equal to 24 times the last Insurance-
As the realization of its commitment to improving
Base Salary [(Base Merit + Performance Merit) x 1.1] to
employees welfare, in 2012, the Company has revised
employees that cease to work due to retirement, death
the regulation concerning remuneration for both
or disability. The Company provides pension healthcare
permanent and non-permanent employees through
program, aimed at allowing pensioners and their family
the issuance of Decision Letter of the Directors No.
to continue to have a healthy life and high productivity.
104/KPTS/2012 dated 29 June 2012 on Change in Regulation of Remuneration for Permanent Employees
Cost for Human Resources
Based on Performance Management System and
During the entire year of 2012, the cost of Jasa Marga
Decision Letter of the Directors No. 105/KPTS/2012
human resources for remuneration amounted to Rp
dated 29 June 2012 on Regulation of Remuneration for
350,019,702,054 showing an increase compared to
Non-Permanent Employees.
that of 2011 amounting to Rp 324,132,196,268.
Retirement Plan
For 2012, Jasa Marga has allocated fund for education
All Jasa Marga permanent employees are eligible to
and training reaching Rp 10,244,860,665 including
receive a defined benefit pension plan in order that retired
the travel allowances, an increase compared to that of
employees receive continuous earning. The pension plan
2011 amounting to Rp 9,951,069,890. With the total
is organized by Jasa Marga Pension Fund (Dana Pensiun
number of participants reaching 4,405 people in 2012,
Jasa Marga – DPJM). Pension benefit that will be paid
the realization of investment in education and training
to retired employees is calculated based on employees’
reached 97% in the amount of Rp 9,911,096,482 which
pension base salary and their period of service. DPJM is
was higher than that of 2011 with Rp 7,675,027,777.
approved by the Minister of Finance of the Republic of
This demonstrates Jasa Marga’s commitment to
Indonesia with the issuance of Decision Letter No. KEP-
sustainable education and training for the creation of
370/KM.17/1997 dated 15 July 1997 and was renewed
future competent leaders of the Company.
Corporate Social Responsibility
Table Cost for Jasa Marga Human Resources
226
Cost Cost for Remuneration Cost for Education and Training
Annual Report 2012
Constructing towards the Future
(in Rp) 2012
2011
350,019,702,054
324,132,196,268
9,911,096,483
7,675,027,777
Information for
Investors ANNUAL REPORT 2012
www.jasamarga.com
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Chronology of Jasa Marga Shares Listing and Bonds Issuance Chronology of Jasa Marga Shares Listing Table Chronology of Jasa Marga Shares Listing
Management Discussion and Analysis
Management Reports
No.
Description
(as of 31 December 2012)
Total Shares
Government of the Republic of Indonesia (%)
Public (%)
Treasury Stock (%)
-
4,760,000,000
100
-
-
Date
Government of the Republic of Indonesia (Shares)
Public (Shares)
-
4,760,000,000
1
Before IPO
2
IPO at Jakarta Stock Exchange
12 Nov 2007
4,760,000,000
2,040,000,000
6,800,000,000
70
30
-
3
Buyback
13 Oct 200712 Jan 2009
4,760,000,000
2,015,476,500
6,775,476,500
70
29.64
0.36
4
Sell of Buyback Shares
05 Apr 201225 Jun 2012
4,760,000,000
2,040,000,000
6,800,000,000
70
30
-
5
End of 2012
As of 31 Dec 2012
4,760,000,000
2,040,000,000
6,800,000,000
70
30
-
Corporate Action
Jasa Marga’s share Buyback program was conducted for the period of 13 October 2007-12 January 2009 for 24,523,500 shares. In the period of 05 April 2012-25 June 2012, Jasa Marga sold all the buyback shares. Table Corporate Action Securities
Number of Shares
Shares
24,523,500
Stock Exchange Indonesia Stock Exchange
Time 05 April 2012-25 June 2012
Corporate Social Responsibility
Corporate Governance
Chronology of Jasa Marga Bonds Issuance
228
Table Chronology of Jasa Marga Bonds Issuance Par Value (Rp Million)
Bond**
Tenor (Year)
Issuance Date (mm-dd-yyyy)
Maturity Date (mm-dd-yyyy)
(as of 31 December 2012) (per 31 Desember 2012) Rating
Status
1.
Jasa Marga I (A)
23,718
5
11-03-1983
11-03-1988
Paid
2.
Jasa Marga II/1 (B)
40,000
5
31-10-1983
31-10-1988
Paid
3.
Jasa Marga II/2 (C)
20,000
5
06-02-1984
06-02-1989
Paid
4.
Jasa Marga II/2 (D)
20,000
5
05-03-1984
05-03-1989
Paid
5.
Jasa Marga II/2 (E)
20,000
5
31-03-1984
31-03-1989
Paid
6.
Jasa Marga III/1 (F/1)
40,000
5
28-12-1984
28-12-1989
Paid
7.
Jasa Marga III/2 (F/2)
30,000
5
01-03-1985
01-03-1990
Paid
8.
Jasa Marga IV/1 (G/1)
40,000
5
27-12-1985
27-12-1990
Paid
9.
Jasa Marga IV/2 (G/2)
60,000
5
24-03-1986
24-03-1991
Paid
10.
Jasa Marga V/1 (H)
60,000
5
06-07-1987
06-07-1992
Paid
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Tenor (Year)
Issuance Date (mm-dd-yyyy)
Maturity Date (mm-dd-yyyy)
19-11-1987
19-11-1992
Paid
11.
Jasa Marga V/2 (I)
40,000
5
Rating
Status
12.
Jasa Marga VI/1 (J)
75,000
8
20-6-1988
20-06-1996
Paid
13.
Jasa Marga VI/2 (K)
50,000
8
01-02-1989
01-02-1997
Paid
14.
Revenue Indexed Bond Phase I
40,000
12
31-07-1989
31-07-2001
Paid
15.
Revenue Indexed Bond Phase II
30,000
12
21-09-1989
21-09-2001
Paid
16.
Jasa Marga VII (L)
100,000
8
08-06-1990
08-06-1998
Paid
17.
Jasa Marga VIII (M)
150,000
8
27-03-2000
27-03-2008
Paid
18.
Jasa Marga IX (N)
400,000
5
12-04-2002
12-04-2007
Paid
19.
Jasa Marga X (O)
650,000
8
04-12-2002
04-12-2010
Paid
20.
Jasa Marga XI (P)
1,000,000
10
10-10-2003
10-10-2013
21.
JORR I *)
22.
id
AA
Outstanding
274,260
10
19-11-2003
19-11-2013
-
Outstanding
JORR II (A)
*)
78,300
10
05-01-2006
05-01-2016
-
Outstanding
JORR II (B)
*)
78,300
12
05-01-2006
05-01-2018
-
Outstanding
JORR II (C)
*)
104,400
15
05-01-2006
05-01-2021
-
Outstanding
Jasa Marga XII (Q)
1,000,000
10
06-07-2006
06-07-2016
id
AA
Outstanding
24.
Jasa Marga XIII (R)
1,500,000
10
06-21-2007
06-21-2017
id
AA
Outstanding
25.
Jasa Marga XIV (JM10)
1,000,000
10
10-12-2010
10-12-2020
id
AA
Outstanding
26.
Jasa Marga I (JM10)
500,000
3
10-12-2010
10-12-2013
id
AA
Outstanding
Corporate Profile
23.
Information for Investors
Par Value (Rp Million)
Note: *Not Listed **All Jasa Marga Bonds are listed at Indonesia Stock Exchange
Rating of Jasa Marga Bonds as of 31 December 2012 Rating Pefindo idAA AA rating represents obligor’s very strong capacity to fulfill its long-term id financial liabilities in relative to other Indonesian obligors.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Bond**
Human Capital Management
Information for Investors Chron ol og y of J as a Marg a S hares Li s t i n g an d B on ds Issuanc e
229
PT Jasa Marga (Persero) Tbk.
Management Reports
Performance Highlights 2012
www.jasamarga.com
Dividend Payment Table Historical Dividend Payment 2007-2011 Financial Year
Dividend Amount (Rp Billion)
Dividend Ratio
2007
97.29
35%
2008
353.90
50%
2009
595.62
60%
2010
716.09
60%
2011
535.78
40%
Ownership of Jasa Marga Shares (JSMR)
Management Discussion and Analysis
Table Ownership of JSMR Shares Shareholder
(as of 31 December 2012) Number of Shareholders
Number of Shares
% of Ownership
1
1
Series B Share
1
4,759,999,999
Total
2
4,760,000,000
5,958
106,562,027
1.57
281
597,462,102
8.79
Government of Republic of Indonesia Dwi Warna Share
70.00
Domestic Investors Individual/Retail Institution Mutual Fund Total
124
252,934,655
3.72
6,363
956,958,784
14.07
531
1,083,041,216
15.93
6,896
6,800,000,000
100.00
Corporate Governance
Foreign Investors Total TOTAL
Chart Ownership of JSMR Shares as of 31 December 2012
15.93% Foreign Investors
Corporate Social Responsibility
8.79%
Domestic Investors – Institution
3.72% Mutual Fund
1.57% 70%
Domestic Investors – Individual/Retail
Government of the Republic of Indonesia
230
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Information for Investors O wn er s hi p of Jas a Marg a S hares ( JSM R)
Number of Shares
%
Agoes Widjanarko
Chairman
80,000
0.0012
Ibnu Purna
Commissioner
10,500
0.0002
Akhmad Syakhroza
Commissioner
Nil
0
Joyo Winoto
Commissioner
Nil
0
Mayjen. (Purn). Samsoedin
Independent Commissioner
Nil
0
Irjen Polisi (Purn.) Michael Dendron Primanto
Independent Commissioner
Nil
0
Adityawarman
President Director/CEO
134,500
0.0020
Hasanudin
Operation Director
8,500
0.0001
Abdul Hadi Hs.
Business Development Director
260,500
0.0038
Reynaldi Hermansjah
Finance Director
360,000
0.0053
Muh Najib Fauzan
Human Capital and General Affairs Director
107,500
0.0016
961,500
0.0140
Shares Ownership of Employees
23,327,919
0.3431
Total Shares Ownership of Board of Commissioners, Directors and Employees
24,289,419
0.3572
Total Shares Ownership of Board of Commissioners and Directors
Table Ownership of JSMR Shares of Minimum 5% Shareholder’s Status
Government of the Republic of Indonesia
Government of the Republic of Indonesia
(as of 31 December 2012) Number of Shares 4,760,000,000
Name
1.
NEGARA REPUBLIK INDONESIA
2.
PT JAMSOSTEK (PERSERO) - JHT
3.
70.000
(as of 31 December 2012)
Tabel Sepuluh Pemegang Saham JSMR Terbesar No.
%
Number of Shares
%
4,760,000,000
70.000
115,689,500
1.701
JPMORGAN CHASE BANK NA RE NONTREATY CLIENTS - 2157804006
94,259,100
1.386
4.
PT AIA FINL - UL EQUITY
78,100,000
1.149
5.
PT TASPEN (PERSERO) - THT
75,554,500
1.111
6.
PT JAMSOSTEK (PERSERO) - NON JHT
42,090,000
0.619
7.
BBH BOSTON S/A VANGRD EMG MKTS STK INFD
41,309,000
0.607
8.
THE NORTHERN TST CO SA FIDELITY INVESTMENT TRUST FIDELITY SERIES EMERGING MARKET
37,051,000
0.545
9.
BNYM SA/NV AS CUST OF EMPLOYEES PROVIDENT FUND
30,767,500
0.452
10.
BBH LUXEMBOURG S/A FIDELITY FD, SICAV-INDONESIA FD
29,960,000
0.441
Constructing towards the Future
Annual Report 2012
Corporate Profile
Name
Human Capital Management
Position
Management Responsibility for Annual Report 2012
Name
(as of 31 December 2012)
Information for Investors
Table Ownership of JSMR Shares of Board of Commissioners, Directors and Employees
231
PT Jasa Marga (Persero) Tbk.
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
232
Investor Relations As a public company, one of the most essential functions
No.
Securities
Investor Relations. Reporting to the Corporate Secretary,
14.
Lautandhana Sekuritas
Jasa Marga Investor Relations Department currently has
15.
Mandiri Sekuritas
three main functions:
16.
Nomura Indonesia
•
To bridge the interests of the investors to the
17.
OSK
Company.
18.
Samuel Sekuritas
To comply with the rules and regulations of the
19.
Semesta Equity
capital market as well as stock exchange authorities.
20.
Sucorinvest
To carry out activities that enables communication
21.
Trimegah Securities
with the capital market society.
22.
UBS
to maximize corporate value lies in the function of
• •
The main focus of Jasa Marga Investor Relations
• In 2012, Jasa Marga Investor Relations Department
Department is to perform strategies that support actions
also formulated the strategy to increase the
towards higher corporate value by conducting the
Company’s
following activities:
communication with various constituents such as
•
value
by
carrying
out
intense
Increasing analysts’ coverage.
analysts, brokers, investors, and Directors by means
Opinion of analysts is of the sources of information
of various media, such as:
that investors rely on. Increasing the number of
•
Annual Report.
analysts covering the Company is therefore one of
•
GMS.
the key purposes of Jasa Marga Investor Relations
•
Press Release.
Department. Analysts’ favorable recommendation
•
Website.
concerning the Company takes part in increasing the
•
Advertisement.
price of the Company’s shares which will eventually
•
Newsletter.
enhances the value of the Company. Until the end of
•
Participation in Investor Broker Conference.
2012, JSMR has been covered by 23 analysts from
•
Roadshow.
22 companies both foreign and local brokers with
•
Conference Call.
56 reports in total.
•
Public Expose.
Table List of Securities Covering Jasa Marga
Jasa
Marga
Investor
Relations
Department
has
No.
Securities
proactively provided and improved the quality of
1.
Andalan Artha Advisindo Sekuritas
information available on website, newsletter, or e-mail
2.
Bank of America Merril Lynch
3.
Bahana Sekuritas
4.
Batavia Prosperindo
5.
CIMB Sekuritas
6.
Citi
7.
CLSA
8.
Credit Suisse
9.
Danareksa Sekuritas
10.
Deutsche Bank
11.
HSBC
12.
JP Morgan
13.
Kim Eng Securities
Annual Report 2012
by continuously enhancing the information in terms of structure, content, as well as language, which is also provided in English Language. Through its Investor Relations Department, the Company always prioritizes two-way communication with parties related to the capital market. The Company always welcomes all questions and responses to issues concerning the Company and responds at its best in a timely manner and in the simplest possible way. Information on the point of contact for the capital market
Constructing towards the Future
society is available on the Company’s website, to enable anyone to access or inquire about Jasa Marga.
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
As at the end of 2012, JSMR share price was closed at
Receiving positive perception, Jasa Marga is regarded as
Rp 5,450, showing in increase by 220.59% compared
the largest toll road operator in Indonesia with the highest
to the price of 2007 at the time of initial offering, which
number of toll roads owned compared to other operators.
was Rp 1,700. The increase in JSMR share price, apart
Based on the said understanding, investors give positive
from representing investors’ trust in the Company’s
reviews on Jasa Marga’s financial performance. On the
commitment to always improving its performance, it
other hand, the consideration of buying Jasa Marga
also reflects the success of the communication or the
shares will closely relate to completion of toll road
messages that the Company has been conveying.
sections that are presently under construction.
In the aspect of compliance, Jasa Marga Investor
Corporate Action in 2012
Relations Department prepares the convening of GMS
During the year 2012, the Company conducted several
(General Meeting of Shareholders) and ensures the
corporate actions as follows:
No.
GMS related reporting, quarterly financial reporting, mid-
Corporate Action
Selling of Treasury Stock
Selling of Remaining CMNP Shares
Jasa Marga released its remaining share ownership at CMNP amounting to 81.6 million shares.
23 April 2012
Transaction of Buying Shares of PT Waskita Karya (Persero) at PT Trans Lingkar Kita Jaya
Jasa Marga bought shares of PT Waskita Karya (Persero) at PT Trans Lingkar Kita Jaya, concession holder of CinereJagorawi Toll Road.
06 August 2012
The activities of Jasa Marga Investor Relations
Table Activities of Jasa Marga Investor Relations in 2012 Activities External Reporting, Reports to Bapepam-LK, and IDX
1.
Frequency 128 x
GMS Public Expose Non Deal Roadshow and Conference
3x
Analyst Meeting
1x
Site Visit
16 x
Annual Report
1x
Site Visit
6x
Annual Report
1x
2.
Jasa Marga constantly nurtures good relationship with analysts and investors. Throughout the year 2012, the Company held various forums to make sure of information distribution to investors. The Company organized analyst meeting, public expose and site visits to also ensure adequacy of information. These various events were responded very well by the capital market community.
3.
Period
Jasa Marga sold the treasury stock to public to strengthen the 05 AprilCompany’s 25 June 2012 equity, in line with its plan to expand in the development of new toll road sections.
yearly financial reporting and yearly financial reporting.
Department in 2012 are as follows:
Description
Constructing towards the Future
Annual Report 2012
Information for Investors
reporting obligation for Information Disclosure such as
Table Jasa Marga Corporate Action in 2012
Corporate Profile
LK and Indonesia Stock Exchange, including the
Management Responsibility for Annual Report 2012
compliance with the rules and regulations of Bapepam-
Human Capital Management
Information for Investors Inves tor Relations
233
PT Jasa Marga (Persero) Tbk.
Access to Corporate Information and Data
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
In order to provide its stakeholders with easy access,
(Indonesian Capital Market Supervisory Agency) and through
the Company has constantly updated the means of
electronic reporting to the Indonesia Stock Exchange. Jasa
information provision along with the supporting facilities.
Marga also actively makes publication for every corporate
In addition, the Company also continuously makes
action conducted with the use of bilingual (Indonesian and
the effort in advancing the platform of information
English Languages) press release. The said publication is
technology to maintain and improve the reliability in
available at Jasa Marga website.
providing integrated information in the right time and for the right target through the Company’s website
For further information on the Company, people in general
www.jasamarga.com.
as well as investors may reach Corporate Secretary (David
Corporate Social Responsibility
Wijayatno) and Head of Investor Relations Department (Rudi
234
To comply with information disclosure, Jasa Marga
Kurniadi) at Tel. (62-21) 8413630, 8413526, Fax. (62-21)
also reports information and facts deemed material to
8413540, e-mail:
[email protected] and investor.
the capital market authority via mail to Bapepam-LK
[email protected]
Annual Report 2012
Constructing towards the Future
Corporate
Profile ANNUAL REPORT 2012
www.jasamarga.com
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
236
About Jasa Marga
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate P ro f ile About J asa M arga
To support the economic growth, Indonesia needs reliable road network. PT Jasa Marga (Persero) Tbk. was formed based on Government Regulation No. 04 of 1978 on the State Capital Participation of the Republic of Indonesia in the establishment of a State-Owned (Persero) in the fields of management, maintenance and provision of toll road network, along with its business regulations (State Gazette No. 04 of 1978 in conjunction with the Decree
Human Capital Management
Brief History of Jasa Marga
of the Minister of Finance of the Republic of Indonesia No. 90/KMK.06/1978 on the Decision of the Capital of Perusahaan Perseroan (Persero) PT Jasa Marga dated
The Company was established based on the Deed of Notary Kartini Mulyadi, SH. No. 01 dated 01 March 1978, and was approved by the Minister of Justice of the Republic of Indonesia in the Decree No. Y.A.5/130/1 dated 22 February 1982, was registered in Jakarta District Court No. 766 and 767 on 02 March 1982 and
Information for Investors
27 February 1978).
was published in the State Gazette No. 73 dated 10 September 1982, Supplement No. 1138. At an earlier stage of its establishment, besides responsibility as the toll road authority in the country. Until 1987, Jasa Marga was the only toll road operator in Indonesia and its development is financed by the Government with fund deriving from foreign loan and the issuance of Jasa Marga bonds. As the country’s first toll
Corporate Profile
functioning as operator, Jasa Marga also had the
road operated by the Company, Jagorawi (Jakarta-BogorCiawi) Toll Road that is operated since 1978 serves as Indonesia. At the end of the 80s, the Government of Indonesia began to include private sectors to participate in toll road development through the Build, Operate and Transfer (BOT) mechanism. In the 90s, the Company’s role is more on the authority, facilitating private investors most of whom failed to realize their project. The toll roads that were taken over by the Company include JORR and Cipularang. Dawua n I nterch a ng e, Jakar t a - Ci ka mp ek Toll Roa d
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
the milestone in the development of toll road industry in
237
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Management Reports
Performance Highlights 2012
Corp ora te Prof il e Ab out J a sa M a r g a
The issuance of Law No. 38 of 2004 on Road replacing Law No. 13 of 1980, along with the issuance of
Line of Business In accordance with the resolutions of the Extraordinary
Government Regulation No. 15 giving more specific
General
regulations on toll roads have brought changes in toll
12 September 2007 regarding the changes in the
road business mechanism, which among others include
Company’s Articles of Association with regards to Initial
the forming of the Indonesian Toll Road Authority (Badan
Public Offering, including the increase in authorized
Pengatur Jalan Tol – BPJT) as the regulator of toll road
capital, issued and fully paid capital; the changes in par
industry in Indonesia, as well as the decision of toll tariff
value and the classification of share; the change in the
by the Minister of Public Works along with the adjustment
Company’s status from a private company to become
every two years. Therefore, the authorization function
a public company; and the change in the name of the
is given back from the Company to the Government.
Company to become Perusahaan Perseroan (Persero)
Consequently, the Company fully functions as a toll road
PT Jasa Marga (Indonesia Highway Corporatama) Tbk.
operator and developer that requires concession license
or PT Jasa Marga (Persero) Tbk., the decision of the
from the Government.
changes in the Company’s Articles of Association was
Meeting
of
Shareholders
convened
on
Corporate Governance
Management Discussion and Analysis
stated in the Deed No. 27 dated 12 September 2007 Through the Toll Road Concession Agreement (Perjanjian
from Notary Ny. Poerbaningsih Adi Warsito SH. The deed
Pengusahaan Jalan Tol – PPJT) signed on 07 July 2006,
was approved by the Minister of Law and Human Rights
13 toll road sections operated by the Company have a
of the Republic of Indonesia through the Decree of No.
concession period of 40 years effective from 01 January
W7-10487 HT.01.04-TH.2007 dated 21 September
2005, with the exception of PPJT of JORR Section S
2007.
that is operated based on the Decision of the Minister of Public Works and Minutes of Meeting of BPJT for 15
The Company’s Articles of Association have been
years or the payment of JORR Section S syndicated loan.
amended several times and the most recent amendment has been announced in the Supplement No. 27404 to
Since then, toll road operation and development is
the State Gazette of the Republic of Indonesia dated 12
based on investment concept and as an investor, the
December 2008 No. 100 and was last amended based
Company will invest in toll roads that are financially
on Deed of Resolutions of No. 33 dated 05 April 2011
feasible in accordance with the concession period. To
made before Notary Ny. Poerbaningsih Adi Wasito, SH.,
get new toll road concession also requires the forming
Notary in Jakarta as approved by the Minister of Law and
of new business entity. Through the Subsidiaries formed
Human Rights of the Republic of Indonesia through its
by the Company in cooperation with several business
Decree No. AHU-20228.AH.01.02 year 2011 dated 21
partners with the Company having majority ownership of
April 2011, and was last amended in accordance with the
more than 51%, until the end of 2012, the Company has
Deed of Resolutions of Extraordinary General Meeting of
nine new toll road sections of additional 211 km.
Shareholders No. 95 dated 21 June 2012, made before
Corporate Social Responsibility
Ny. Poerbaningsih Adi Warsito, SH., Notary in Jakarta and
238
Located in Jakarta, the Company, through its nine (9)
has obtained acknowledgement letter from Directorate
Branches and ten (10) Subsidiaries, is currently holding
General Public Law Administration of the Ministry of Law
the concessions of 22 toll road sections, 16 of which,
and Human Rights No. AHU-AH.01.10-25313 dated 10
with the length of 545 km, are already in operation,
July 2012.
including the three new concessions that are operated in stages, namely Bogor Outer Ring Road Section I (3.8
According to Article 3 of the Company’s Articles of
km), Semarang-Solo Section 1 (10.8 km) and Surabaya-
Association, the aims and purposes of the Company are to
Mojokerto Section 1A (2.3 km), representing 73% of the
engage in performing and supporting the Government’s
total operating toll roads in the country.
programs and policies in economy and national in
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate P ro f ile
development in general; and in the development of toll
Since 2007, the Company has become a public company
roads along with the supporting facilities in particular, by
and has been listed at Indonesia Stock Exchange
implementing the principles of Limited Liability Company.
(IDX) – previously Jakarta Stock Exchange (JSX), when the Government sold its 30% shares to public on 12 November 2007.
performs the following activities: In 2009, the Company increased its shares ownership 1. Performing
technical
planning,
and became the major shareholder in PT Marga construction,
operation and/or maintenance of toll roads.
Kunciran Cengkareng, holder of Cengkareng-Kunciran Toll Road concession; PT Marga Trans Nusantara, holder
2. Developing the land in toll roads’ right of way (ROW)
of Kunciran-Serpong Toll Road concession; PT Marga
areas and the land adjacent to toll roads’ ROW for
Nujyasumo Agung, holder of Surabaya-Mojokerto Toll
rest and services areas along with the facilities and
Road concession, each with a concession period of 35
other businesses, either solely or in cooperation
years.
with other parties. In 2011, Jasa Marga increased its shares ownership Supporting Business Activities of the Company
in PT Margabumi Adhikaraya, which is the concession
1. Developing property in areas near toll road corridor.
holder of Gempol-Pandaan Toll Road with a concession
2. Developing services for businesses related to
period of 35 years and becomes the major shareholder
modes/means
of
transportation,
distribution
by acquiring the shares from existing shareholder.
of liquid/solid/gas material, information facility
Furthermore, together with a consortium of four SOEs,
network, technology and communication, in relation
the Company was appointed developer of Nusa Dua-
to toll road corridor.
Ngurah Rai-Benoa Toll Road project in Bali with a
3. Developing the fields of trade and services for
concession period of 50 years. Thus until the end of
construction, maintenance and toll road operation.
2011, the Company has nine new toll road concessions through its subsidiaries each of which the Company
In view of its main tasks to plan, build, operate and
becomes the major shareholder.
maintain toll roads along with the facilities so that toll roads are able to function as highway providing more
The Company’s main income derives from the toll
benefits compared to the non-toll roads, in 2005, Jasa
payment of vehicles passing its toll roads. The company’s
Marga won the concession of three new toll roads i.e.
other sources of income also include land rent,
Bogor Outer Ring Road, Semarang-Solo and Gempol-
advertisements and operation of other party’s toll road.
Information for Investors
Main Business Activities of the Company
Corporate Profile
To achieve the above aims and purposes, the Company
Human Capital Management
About J asa M arga
Pasuruan whose concessions are held by PT Marga Management Responsibility for Annual Report 2012
Sarana Jabar, PT Trans Marga Jateng and PT Trans Marga Jatim Pasuruan, respectively, with a concession period of 45 years. In 2007, the Company won another two toll road concessions i.e. Cengkareng-Kunciran and Kunciran-Serpong with a concession period of 35 years.
Constructing towards the Future
Annual Report 2012
239
PT Jasa Marga (Persero) Tbk.
Performance Performance Highlights Highlights 20122012
www.jasamarga.com
Jasa Marga’s Milestone 1978
Management Reports Management Discussion and Analysis
1987
2006
1988
2007
1991
2008
1997
2009
a
2011
2012
• • • • • •
Semarang Toll Road started to operate. Jakarta-Tangerang Toll Road started to operate. Prof. Dr. Ir. Sedyatmo Toll Road started to operate. Surabaya-Gempol Toll Road started to operate. Belawan-Medan-Tanjung Morawa Toll Road started to operate.
• •
Government began to provide the opportunity for private parties to participate in the provision of toll roads through Build, Operate and Transfer (BOT) system with Jasa Marga. Jasa Marga started the operation of Jakarta Inner Ring Road Toll Road in stages.
1988
•
Jakarta-Cikampek Toll Road started to operate.
1991
•
Padalarang-Cileunyi Toll Road started to operate.
1997
•
Palimanan-Kanci Toll Road started to operate.
•
The authorization function is returned to the Government (Department of Public Works c.q. Indonesian Toll Road Authority – Badan Pengatur Jalan Tol/BPJT). Cipularang Toll Road started to operate.
1983 1984 1986
2004
•
• • • •
2006 Corporate Governance
1986
Jasa Marga was established with the scope of business to manage, maintain and provide toll road network. Jagorawi as the first toll road in Indonesia started to operate.
1987
• • •
2007 2008
Corporate Social Responsibility
1984
2004
1978
240
1983
2009
2011 2012
The signing of Bogor Outer Ring Road Toll Road Concession Agreement (Perjanjian Pengusahaan Jalan Tol/PPJT). The signing of Semarang-Solo Toll Road Concession Agreement (Perjanjian Pengusahaan Jalan Tol/PPJT). The signing of Gempol-Pasuruan Toll Road Concession Agreement (Perjanjian Pengusahaan Jalan Tol/PPJT). The signing of Gempol-Pandaan Toll Road Concession Agreement (Perjanjian Pengusahaan Jalan Tol/PPJT). The signing of JORR W2 North Toll Road Concession Agreement (Perjanjian Pengusahaan Jalan Tol/PPJT). The signing of Surabaya-Mojokerto Toll Road Concession Agreement (Perjanjian Pengusahaan Jalan Tol/PPJT).
• •
The change in Jasa Marga Logo signifying the Company’s Modernization and Transformation. Jasa Marga became a public company through the Initial Public Offering (IPO) by listing its shares at the Indonesia Stock Exchange.
•
The signing of Kunciran-Serpong Toll Road Concession Agreement (Perjanjian Pengusahaan Jalan Tol/PPJT). Bogor Outer Ring Road Toll Road (Section 1 – Sentul Selatan-Kedung Halang) started to operate. e-Toll Card started to be implemented. The signing of Cengkareng-Kunciran Toll Road Concession Agreement (Penandatanganan Perjanjian Pengusahaan Jalan Tol/PPJT). Surabaya-Mojokerto Toll Road (Section 1A – Waru-Sepanjang) started to operate. Semarang-Solo Toll Road (Section 1 – Semarang-Ungaran) started to operate. The signing of Nusa Dua-Ngurah Rai-Benoa Toll Road Concession Agreement (Penandatanganan Perjanjian Pengusahaan Jalan Tol/PPJT). e-Toll Pass started to be implemented.
• • • • • • •
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
The locations of toll roads operated by the Company all across Indonesia is provided in the map as follows: Locations of Jasa Marga’s Toll Roads
NORTH SUMATERA Belmera: 42.7 km
maluku
sumatera
papua
kalimantan sulawesi
jawa
Information for Investors
Human Capital Management
Locations of Jasa Marga’s Toll Roads
Bali
Bali
Nusa Dua-Ngurah Rai- Benoa: 10 km
Constructing towards the Future
Management Responsibility for Annual Report 2012
Jagorawi: 59.0 km Jakarta-Tangerang: 33 km Ulujami-Pondok Aren: 5.55 km Jakarta Inner Ring Road: 23.55 km Prof. Dr. Ir. Sedyatmo: 14.3 km Jakarta-Cikampek: 83.0 km East JAVA Jakarta Outer Ring Road: 43 km Surabaya-Gempol: 49.0 km Cikampek Padalarang: 58.5 km Gempol-Pasuruan: 34.15 km Padalarang-Cileunyi: 64.4 km Surabaya-Mojokerto: 36.3 km Palikanci: 26.3 km Gempol Pandaan: 13.61 km Bogor Outer Ring Road: 11.0 km Cengkareng-Kunciran: 14.2 km Kunciran-Serpong: 11.2 km CENTRAL JAVA JORR W2 Utara: 7.67 km Semarang: 24.75 km. Semarang-Solo: 72.64 km
Corporate Profile Corporate Profile
GREATER JAKARTA & WEST JAVA
Annual Report 2012
241
PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Corporate Structure The corporate structure of the Company as of 31 December 2012 is as follows: Corporate Structure of Jasa Marga
Management Reports
GOVERNMENT OF THE REPUBLIC OF INDONESIA 70%
PT JASA MARGA (PERSERO) Tbk.
Management Discussion and Analysis
Subsidiaries and Percentage of Jasa Marga’s Ownership
PT JALANTOL LINGKARLUAR JAKARTA 99%
PT MARGA SARANA JABAR 55%
PT TRANS MARGA JATENG 60%
PT MARGA KUNCIRAN CENGKARENG 76.07%
PT MARGA LINGKAR JAKARTA 65%
PT MARGA NUJYASUMO AGUNG 55%
PT TRANS MARGA JATIM PASURUAN 93.62%
PT SARANA MARGA UTAMA 99%
PT JASAMARGA BALI TOL 60%
PT JASAMARGA PROPERTI 99%
PT MARGABUMI ADHIKARAYA 66.48%
Corporate Governance
PT MARGA TRANS NUSANTARA 60%
Corporate Social Responsibility
242
PUBLIC 30%
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
99%
Scope of Business Operator of Jakarta Outer Ring Road Toll Road
Status
Management Composition •
Operated
• • • •
PT Marga Sarana Jabar
55%
Operator of Bogor Outer Ring Road Toll Road
•
Operated (Section 1 Sentul SelatanKedung Halang)
• • • • •
PT Trans Marga Jateng
60%
Operator of Tol Semarang-Solo
Operated (Section 1 SemarangUngaran)
• • • • • •
PT Marga Kunciran Cengkareng
76.07%
Operator of CengkarengKunciran Toll Road
• Not Yet Operated
• • •
PT Marga Trans Nusantara
60%
Operator of KunciranSerpong Toll Road
• • • Not Yet Operated
• • •
PT Marga Lingkar Jakarta
65%
Operator of JORR W2 North Toll Road
Not Yet Operated
• • • •
President Director: Septerianto Sanaf Director: Albert MP Silaen President Commissioner: Bambang Sulistyo Commissioner: Heri Purnomo President Director: Muhammad Zahir Siregar Finance Director: Darmawan Budi Roso Engineering & Operation Director: Ach Lukman Letnantoro President Commissioner: Maryanto Commissioner: Reynaldi Hermansjah Commissioner: Mayjen. TNI Purnawirawan Songko Purnomo President Director: Djadjat Sudradjat Finance Director: Darmoko Engineering Director: Ari Nugroho President Commissioner: Danang Atmodjo Commissioner: Djuwarso Commissioner: Hasanudin President Director: Saut Parlindungan Simatupang Engineering Director: Hendro Atmodjo Finance Director: Zaidi B Ibrahim President Commissioner: Dedi Krisnariawan Sunoto Commissioner: Mohd. Ghazali bin Mahmood President Director: Agus Suharjanto Director: Rachmat Soulisa President Commissioner: Paulus Bambang W.E.S Vice President Commissioner: JB Eddy Bambang Susilotomo Vice President Commissioner: Irawan Santoso President Director: Sonhadji Surahman Finance Director: Yauw Diaz Moreno Engineering Director: Agus Achmadi President Commissioner: Ma’mun Amin Commissioner: Abdul Hadi Hs.
Constructing towards the Future
Annual Report 2012
Information for Investors
PT Jalantol Lingkarluar Jakarta
Jasa Marga Ownership
Corporate Profile Corporate Profile
Name of Subsidiary
as of 31 December 2012
Management Responsibility for Annual Report 2012
The profile of the Company’s Subsidiaries is provided in the table as follows: Table Profile of Jasa Marga Subsidiaries
Human Capital Management
Profile of Subsidiaries
243
PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
Corp or a te Prof il e
244
Prof ile o f S ub s id ia r i e s
Name of Subsidiary
PT Marga Nujyasumo Agung
Jasa Marga Ownership
55%
Scope of Business
Operator of SurabayaMojokerto Toll Road
Status
Operated
Management Composition • • • • • • •
PT Trans Marga Jatim Pasuruan
93.62%
Operator of GempolPasuruan Toll Road
Not Yet Operated
• • • • • • • •
PT Margabumi Adhikaraya
66.48%
Operator of GempolPandaan Toll Road
Not Yet Operated
• • • • • • • • •
PT Jasamarga Bali Tol
60%
Operator of Nusa DuaNgurah RaiBenoa Toll Road
Not Yet Operated
• • • •
PT Sarana Marga Utama
PT Jasamarga Properti
Annual Report 2012
99%
99%
Services of Construction, Trade and Vehicle Rental
Development, Trade and Property-related Services
Constructing towards the Future
• • Operated
• • • • •
Operated
• • •
President Director: Slamet Sudradjat Finance Director: Syafaruddin AR Operation Director: Edwin Cahyadi Administration and General Affairs Director: Kamil Rusnandar President Commissioner: Bambang Pramudjo Commissioner: Muh Najib Fauzan Commissioner: Amien Moeladi President Director: Hengki Herwanto Finance Director: Imron Engineering Director: President Commissioner: Agus Purnomo Commissioner: Bambang Kusbandono President Director: Setiyono Finance & HR Director: Tri Riyaningsih Engineering & Operation Director: Rahardjo Administration & General Affairs Director: Nursyam President Commissioner: Moh. Khusaini Commissioner: Moertomo Basoeki Commissioner: Firmansyah Commissioner: Gusti Chaerul Irwansyah Commissioner: Tolu Ismed Arief President Director: A. Tito Karim Finance Director: Ronny Haryanto Engineering & Operation Director: Wiwin Kwintandi Soeprapto President Commissioner: Abdul Hadi Hs. Commissioner: A. Edy Hidayat Nurjaman Commissioner: Robert Daniel Waloni Commissioner: Wayan Blayu Suarjaya President Director: Kristianto Finance & General Affairs Director: Adik Supriatno Engineering Director: Ari Kristopo President Commissioner: Ir. Purwadi Andandiyanto Commissioner: Drs. Bambang Sancoyo President Director: Irwan Nurhadi Business Development & Engineering Director: Irwan Hasan Finance Director: Haris Prayudi President Commissioner: Ibnu Purna Commissioner: Abdul Hadi Hs.
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Organizational Structure
The Company’s Organizational Structure based on the Decision Letter of the Directors No. 156/KPTS/2010 dated 22 Human Capital Management
September 2010 is as follows: Organizational Structure of the Company
PRESIDENT DIRECTORY/CEO Adityawarman
CORPORATE PLANNING BUREAU M. Sofyan
TOLL ROAD BUSINEES DEVELOPMENT DIVISION Dedi Krisnariawan S.
OPERATION MANAGEMENT DIVISION Taruli M. Hutapea
HUMAN RESOURCES MANAGEMENT BUREAU Emil Irfan
CORPORATE INFORMATION TECHNOLOGI BUREAU
OTHER BUSINNES DEVELOPMENT DIVISION Agus Setiawan
MAINTENANCE DIVISION Ricky Distawardhana
LEGAL BUREAU Tolu Ismed Arief
TOLL ROAD CONSTRUCTIONS PROJECTS
GENERAL AFFAIRS BUREAU Bambang Sancoyo
ENGINEERING DIVISION Hestu Budi Husodo
RISK & QUALITY MANAGEMENT BUREAU Satria Ganefanto
Sutirya Wiriasastra
BRANCHES
Corporate Profile Corporate Profile
MANAGEMENT & ORGANIZATION DEVELOPMENT BUREAU Unggul Cariawan
COMMUNITY DEVELOPMENT PROGRAM & PARTNERSHIP PROGRAM UNIT
SUBSIDIARIES
CORPORATE SECRETARY David Wijayatno
JASA MARGA DEVELOPMENT CENTER UNIT
Management Responsibility for Annual Report 2012
ACCOUNTING & FINANCE BUREAU Syachriani Atim
Hasanudin
Information for Investors
OPERATION DIRECTOR
Reynaldi Hermansjah
INTERNAL AUDITING UNIT Djoko Dwijono
HUMAN CAPITAL & GENERAL AFFAIRS DIRECTOR Muh Najib Fauzan
BUSINNESS DEVELOPMENT DIROCTOR Abdul Hadi Hs.
FINANCE DIRECTOR
Constructing towards the Future
Annual Report 2012
245
PT Jasa Marga (Persero) Tbk.
Profile of Board of Commissioners
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
246
4
2
6
1
3
5
1. Agoes Widjanarko Chairman
4. Joyo Winoto Commissioner
2. Ibnu Purna Commissioner
5. Mayjen. (Purn). Samsoedin Independent Commissioner
3. Akhmad Syakhroza Commissioner
6. Irjen Polisi (Purn.) Michael Dendron Primanto Independent Commissioner
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate P rof ile
He was born on 09 August 1954 (age 58). He was appointed Chairman based on the Resolution of EGMS on 30 January 2012. At the moment, he is also the Secretary General of the Ministry of Public Works (2008-present). He was Previously Chairman of PT Wijaya Karya (Persero) Tbk. (2007-2012), Director General of Cipta Karya,
Human Capital Management
Prof i l e of B oard of Comm issioner s
Ministry of Public Works (2005-2008), Expert Staff of Minister of Settlement and Regional Infrastructure for Social Culture and Community Role (2003-2005) and Director of Housing Fund,
2003). He acquired his Bachelor’s degree in civil engineering from Sepuluh Nopember Institute of Technology, Surabaya and Master’s degree in Infrastructure Planning from University of Agoes Widjanarko Chairman
Stuttgart, West Germany.
He was born on 07 September 1954 (age 58). He was appointed Commissioner based on the
Corporate Profile
of Settlement and Regional Infrastructure (2001-
Information for Investors
Directorate General of Settlement, Department
Resolution of EGMS on 30 January 2012. At the moment he is also Deputy Cabinet Secretary the Ministry of the State Secretariat (2010) and Deputy Minister of the State Secretariat for Policy Support (2007-2010). He was also President Commissioner of PT Kawasan Berikat Nusantara (2007-2012).
He
acquired
his
Bachelor’s
degree in Economics from Airlangga University, Surabaya and Master of Arts from University of Flinders, Australia. Ibnu Purna Commissioner
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
(2011-present). He was previously Secretary of
247
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corp or a te Prof il e Prof ile o f B o a rd of C om m i s s i on er s
He was born on 30 November 1963 (age 49). He was reappointed Commissioner based on the Resolution of EGMS on 30 January 2012. He is currently Deputy Financial Control SKMIGAS (August 2011-present) and Member of the Supervisory Board of Bank Indonesia (March 2010-present). He was previously Expert Staff for the Minister of
Management Reports
Energy and Mineral Resources (2009-2011), Head of Accountancy Development Center of Economics Faculty of University of Indonesia (2002-July 2009), Expert Staff of National Auditing Agency (20052007) and Advisor on Economy and Investment to Governor of Bengkulu Province (2006). At present he is also lecturer at Economics Faculty of University of Indonesia for bachelor, master and doctoral programs
Management Discussion and Analysis
(1986-present) and professor of Economics Faculty of University of Indonesia (2004-present). He previously worked at Citibank Jakarta (1989-1990), Bimantara Group (1988-1989) and Public Accountant Amir Akhmad Syakhroza Commissioner
Abadi Jusuf (1986-1988). He earned his Bachelor’s degree in Accounting from Faculty of Economics of University of Indonesia (1987), Master’s degree in Accounting, Finance and Information System from Cleveland State University, Ohio, USA (1991), and Doctoral degree in Organizational Behavior and Management Accounting from the Faculty of Business and Public Management of Edith Cowan
Corporate Governance
University, Perth, Australia (2002).
He was born on 16 November 1961 (age 52). He was appointed Commissioner based on the Resolution of EGMS on 09 January 2008 and was reappointed based on the Resolution of EGMS on 30 January 2012. He was previously Head of Land National Agency of the Republic of Indonesia (July 2005-June 2012), Director of Food, Agriculture and Irrigation
Corporate Social Responsibility
of National Development Planning Agency of the
248
Republic of Indonesia (Bappenas); Head of Bureau of Food, Agriculture and Irrigation of Bappenas; and Head of Bureau of Foreign Economic Cooperation Bureau of Bappenas. At present, he is an active Senior Director of Brighten Institute Bogor and lecturer at Institut Pertanian Bogor (Bogor Agricultural Joyo Winoto Commissioner
Annual Report 2012
Constructing towards the Future
Institute). He acquired his PhD in Political Economy of Resources and Region from Department of Resource Development, Michigan State University, USA (1995).
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate P rof ile Prof i l e of B oard of Comm issioner s
reappointed Independent Commissioner based on the Resolution of EGMS on 30 January 2012. His military career includes the posts of Army Chief of Staff Coordinator Advisor (1996), Head of Army Research and Development (1995), Commander of Artillery Center (1993), Commander of Military Resort 162 Kodam Udayana (1988), Commander of Artillery Training and Education Center (1985),
Human Capital Management
He was born on 21 August 1942 (age 70). He was
Commander of Regiment ARMED 2 KOSTRAD (1983) and Commander of Military District, Battalion Commander of the ARMED. He was Commissioner of PT Telekomindo Prima Bhakti (2000), member of the (1997-1999)
and
Widyaiswara
Utama
(Senior
Lecturer) at National Resilience Institute (1996). He Mayjen. (Purn). Samsoedin Independent Commissioner
holds a Bachelor’s degree in State Administration (1995) and Master’s degree in Management from University of the Philippines-UPI (1996).
Information for Investors
House of Representatives of the Republic of Indonesia
reappointed Independent Commissioner based on the Resolution of EGMS on 30 January 2012. He has retired from the National Police and his last position was Governor of Police Academy in Semarang with the rank of Police Inspector General. He graduated
Corporate Profile
He was born on 29 September 1949 (age 63). He was
from the Police Academy in Semarang in 1973 and from the College of Police Science (PTIK) in 1981. (Sespimpol) in Lembang, West Java (1985-1986) and the Joint Forces Command (Seskogab) in Bandung, West Java (1995-1996). His career in the Police force included Chief of Lampung Regional Police (2002) and Head of Medan City Police (1996). He earned his Bachelor’s degree in Law (2000) and Master’s degree in Law (2001) both from University of Lampung. Since Irjen Polisi (Purn.) Michael Dendron Primanto Independent Commissioner
2010, he was appointed Chairman of Jasa Marga Audit Committee.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
He joined the School of Police Staff & Leadership
249
PT Jasa Marga (Persero) Tbk.
Profile of Directors
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Corporate Governance
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
250
3 5
1 4
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2
1. Adityawarman President Director/CEO
4. Reynaldi Hermansjah Finance Director
2. Hasanudin Operation Director
5. Muh Najib Fauzan
3. Abdul Hadi Hs. Business Development Director
Constructing towards the Future
Human Capital and General Affairs Director
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate P rof ile
Born on 25 October 1955 (age 57), he joined Jasa Marga in 1983. He was appointed President Director/ CEO based on the Resolution of EGMS on 30 January 2012. He was previously Operation Director of Jasa Marga (2008-2012). His previous experiences also included Commissioner of PT Citra Waspphutowa
Human Capital Management
Prof i l e of Direc tor s
(2006-2008), President Commissioner of PT Citra Margatama Surabaya (2002-2009), Operation & Business Development Director of PT CMNP (20022007), Operation Director of PT CMNP (2000-2002), Tomang-Cengkareng Branch Manager (1997-2000), Jagorawi Branch Manager (1993-1997), Head of Toll Operational Equipment Sub Division (1989-1993), Head of Traffic Management and Toll Equipment Sub Division (1988-1989), Head of Toll and Traffic Management Equipment Department (1984-1988), Adityawarman President Director/CEO
Acting Head of Operation Department (1983-1984),
Information for Investors
Commissioner of PT CMNP (1998-2000), Cawang-
and Staff of Management Sub Division (1983). He acquired his Bachelor’s degree in Civil Engineering from Diponegoro University and Master’s degree in
He was born on 26 September 1963 (age 49). He started his career at Jasa Marga in 1988. He
Corporate Profile
Management from Trisakti University.
was appointed Operation Director based on the Resolution of EGMS on 30 January 2012. He was Commissioner of PT Marga Mandala Sakti (20082010) and Cipularang Toll Road Construction Project Manager (2004-2005). He acquired his Bachelor’s degree in Transportation Engineering from Sepuluh Nopember Institute of Technology, Surabaya and Master’s degree in Transportation Engineering from Hasanudin Operation Director
University of New South Wales, Sydney, Australia.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
previously Head of Maintenance Division (2006-2012),
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PT Jasa Marga (Persero) Tbk. www.jasamarga.com
Prof ile o f D ir ector s
Management Reports
Performance Highlights 2012
Corp or a te Prof il e
Born on 13 June 1957 (age 55), he started his career at Jasa Marga in 1987. He was appointed Business Development Director in 2006 and was reappointed based on the Resolution of EGMS on 30 January 2012.
Management Discussion and Analysis
Presently, he is also President Commissioner of PT Jasa Marga Bali Tol and Commissioner of PT Marga Lingkar Jakarta. He was previously President Director of PT Jalantol Lingkarluar Jakarta (2001-2005), Head of Investment Development Division (1994-2001), Commissioner of PT Bukaka Marga Utama (19952001) and Head of Toll Road Investment Team of Jasa Marga (1994-2001). He was also Head of Regional and International Market Divison of Indonesian Road Development Association – HPJI (2007-2011) based on Decision Letter No. KP.01/DPP-HPJI/XI/07 dated 05 November 2007 and was appointed Head of
Corporate Governance
International Market Development and Relation of Indonesian Road Development Association based on Decision Letter No. 01/KPTS/DPP-HPJI/II/2012 dated 20 February 2012 for the period of 2011-2015. He got his Bachelor’s degree in Civil Engineering from Trisakti University in 1982 and Master’s degree
Corporate Social Responsibility
Abdul Hadi Hs. Business Development Director
252
Annual Report 2012
Constructing towards the Future
in Management-Professional Track from Faculty of Economics of University of Indonesia in 1992.
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate P rof ile
He was born on 16 May 1967 (age 45). He was appointed Finance Director since 2006 and was reappointed based on the Resolution of EGMS on 30 January 2012. He acquired his Bachelor’s degree in Electrical Engineering from Trisakti University and has 15 years of investment and capital market experience
Human Capital Management
Prof i l e of Direc tor s
in the financial sector. He began his career in 1991 with Nomura Securities. His experience also included working for Mees Pierson Finas Investment Management, BII Lend Lease Investment Services Bank
Restructuring
Agency
was the President Director of PT PNM Investment Management from 2003 until 2006. He presently holds an Investment Manager License from Bapepam (No. Reynaldi Hermansjah Finance Director
KEP-38/PM-PI/1993).
He was born on 02 June 1960 (age 52). He joined Jasa Marga in 1990 and was appointed Human
Information for Investors
Indonesian
(BPPN). Prior to being assigned at Jasa Marga, he
Corporate Profile
and
Capital and General Affairs Director based on the Resolution of EGMS on 30 January 2012. At present, he is also Commissioner of PT Marga Nujyasumo Corporate Planning Bureau (2006-2012) and Head of Jasa Marga IPO Team (2007). He acquired his Bachelor’s degree in Civil Engineering from Bandung Institute of Technology and Master’s degree in Highway Engineering from Bandung Institute of Technology. Muh Najib Fauzan Human Capital and General Affairs Director
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Agung (2009-present). Previously, he was Head of
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PT Jasa Marga (Persero) Tbk.
Profile of Audit Committee
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
1. Irjen Polisi (Purn.) Michael Dendron Primanto Chairman
Corporate Governance
2
1
3
2. Rustam Wahjudi Member
Corporate Social Responsibility
3. Agita Widjajanto Member
He was appointed Chairman of Jasa Marga Audit Committee since January 2010. At present, he is also Jasa Marga’s Independent Commissioner. His profile is available in Profile of Board of Commissioners. Irjen Polisi (Purn.) Michael Dendron Primanto Chairman
254
Annual Report 2012
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PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate P rof ile Prof i l e of Audi t Co mmittee
Born in Cirebon on 20 May 1952 (age 60), he was in 2011. He graduated from Financial Institute of the Department of Finance majoring in Accounting in 1981 and started his career at BPKP (Financial and Development Supervisory Board) in 1975. His positions at BPKP among others included Director in Supervising Managing State Financial Sector, Rustam Wahjudi Member
Region II at BPKP Head Office (2008-2010), Head of BPKP Riau Province Representative Office (2005-
Human Capital Management
appointed member of Jasa Marga Audit Committee
2008), Head of Administration Division at BPKP East Java Province Representative Office (20042005), Head of Sub Directorate for Supervising Natural Resources and Production at BPKP Head Supervisory at BPKP Head Office (2000-2002), Head of BUMN/BUMD Supervisory Division at BPKP NAD Province Representative Office (1998-2000), Head of Agrarian Supervisory Section at BPKP East Java Representative Office (1995-1997), and Head of Planning, Analysis and Evaluation Section at BPKP Maluku Province Representative Office (1990-1995).
Information for Investors
Office (2002-2004), Head of Sub Directorate for Oil
Born in Jember on 18 August 1971 (age 42), he was appointed member of Jasa Marga Audit Committee Engineering from Bandung Institute of Technology in 1995 and Master’s degree in Tunnel Engineering from International Institute for Infrastructures, Hydraulic and Environmental Engineering (IHE) Delft, Netherlands in 2001. He is currently Head of Investment Scheme Development,
for
Investment
Resource
Development, Construction Development Agency, Ministry of Public Works. He was also Head of Sub Division for Investment Control, Investment Division, Secretariat of Indonesian Toll Road Authority (BPJT), Ministry of Public Works (2005-2011). Since 2005, he has been actively involved in numerous tender committees, working groups, projects, task forces, etc. of the Ministry of Public Works, among others, BPJT and Directorate General of Highways, as a member, counterpart, source person, etc. He received several awards, among others, Satya Lancana Karya Satya X Tahun from the Government (2008) and Singapore Cooperation Programme Training Awards (SCPTA) at Lee Kuan Yew School of Public Policy and Civil
Management Responsibility for Annual Report 2012
Agita Widjajanto Member
Center
Corporate Profile
in 2011. He earned his Bachelor’s degree in Civil
Service College International, Singapore (2006).
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Annual Report 2012
255
PT Jasa Marga (Persero) Tbk.
Profile of Business Risk and Investment Committee
Management Discussion and Analysis
Management Reports
Performance Highlights 2012
www.jasamarga.com
1. Ibnu Purna Chairman
Corporate Governance
2
1
3
2. Bambang Widijanto Soewignjo Member 3. Harun Al-Rasyid S. Lubis Member
He was appointed Chairman of Jasa Marga Business Risk and Investment Committee since 20 February 2012. At present, he is also a member of Jasa Marga’s Board of Commissioners. His profile is available in
Corporate Social Responsibility
Profile of Board of Commissioners.
256
Ibnu Purna Chairman
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate P rof ile
Born in Palembang on 25 August 1952 (age 60), he was appointed member of Jasa Marga Business Risk and Investment Committee in 2011. He graduated from Bandung Institute of Technology majoring in Civil Engineering in 1977 and from Purdue University,
Human Capital Management
Prof i l e of B us i n es s Ri s k an d Inves t men t Committee
USA for Master’s degree in Transportation in 1989. At present, he also holds the position of Mid-Level Road and Bridge Technical Expert of Directorate (since 2001), where he was previously the Quality Assessment Director in the Deputy for Quality & Benefits Assessment of the Agency for Procurement and Development of Public Works Infrastructure (BP4S-PU). Born in Medan on 19 October 1961 (age 51), he was appointed member of Jasa Marga Business Risk
Information for Investors
General of Bina Marga of the Ministry of Public Works Bambang Widijanto Soewignjo Member
and Investment Committee in 2011. He acquired his Bachelor’s degree in Civil Engineering in 1984 from Bandung Institute of Technology, Master’s degree Studies, University of Leeds, U.K., and earned his PhD. in 1995 from Institute for Transport Studies, University of Leeds, UK. At present, he is Associate Professor at Bandung Institute of Technology (since 2001). Previously he was Director for the Infrastructure and Regional Research and Development Center, Institute for Research and Community Services (LPPM)
of
Bandung
Institute
of
Technology
(2003-2004) and Head of Communication and Transportation Research Center, LPPM of Bandung Institute of Technology (2001-2002). Since 1997, he has been actively involved in main research activities along with writing articles concerning transportation either for journals/conferences or mass media.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Harun Al-Rasyid S. Lubis Member
Corporate Profile
of MSc. (Eng.) in 1989 from Institute for Transport
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PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Profile of Corporate Secretary
Born in Yogyakarta on 11 September 1959 (age 53), he was appointed Corporate Secretary on 03 September 2012 based on Decision of the Directors No. 102/AA.P-6a/2012 dated 31 August 2012. He
Management Discussion and Analysis
Management Reports
graduated from Gadjah Mada University majoring in Civil Transportation Engineering in 1986. He started his career at Jasa Marga in 1988. Prior to his present position, he was Semarang Branch Manager (2003), Cawang-Tomang-Cengkareng Branch Manager (2006) and Project Manager for David Wijayatno Corporate Secretary
Property Development Business of JORR 2, BORR, Semarang-Solo & Surabaya-Mojokerto (2010).
Profile of Head of Internal Auditing Unit He was born in Jakarta on 20 April 1959 (age 53) and was appointed Head of Internal Auditing Unit in 2008 based on Decision of the Directors No. 054/ AA.P-6a/2008 dated 15 August 2008. He started his career at Jasa Marga in 1986, when he graduated from Bandung Institute of Technology majoring in
Corporate Governance
Civil Engineering. In 1994, he earned a degree of Master of Engineering Science in Transportation from the University of Melbourne, Australia. He was previously posted in various divisions in the Company, starting from Operation Division, followed by Branch Offices dealing with monitoring and development of toll collection system and later he was posted in Toll Road Construction Project in
Corporate Social Responsibility
Djoko Dwijono Head of Internal Auditing Unit
258
1995. Prior to his present position, he was Head of Corporate Planning, Information System and Technology Development Division (1999) and Head of Other Businesses Development Division (2006).
Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Jasa Marga Key Personnel
David Wijayatno
:
Corporate Secretary Profile is available on Profile of Corporate Secretary
Djoko Dwijono
:
Head of Internal Auditing Unit Profile is available on Profile of Head of Internal Auditing Unit
Satria Ganefanto
:
Head of Risk and Quality Management Bureau
Human Capital Management
Head Office
Unggul Cariawan
:
Head of Management & Organization Development Bureau He was appointed Head of Management & Organization Development Bureau on 01 October 2010. He completed his Bachelor’s degree in Civil Engineering from 10 November Institute of Technology Surabaya and Master’s degree in Finance Management from University of Indonesia. He joined the Company in 1993.
Sutirya Wiriasastra
:
Head of Community Development Program and Partnership Program Unit
Information for Investors
He was appointed Head of Risk and Quality Management Bureau on 08 February 2013. He completed his Bachelor’s degree in Civil Engineering from University of Parahyangan Bandung and Master’s degree in Civil Engineering from University of Indonesia. He has worked with the Company since 1993.
:
Head of Toll Road Business Development Division He was appointed Head of Toll Road Business Development Division on 29 September 2006. He acquired his Bachelor’s degree in Civil Engineering from Gadjah Mada University and Master’s degree in Management Program from Pelita Harapan University. He joined the Company in 1989.
Mohamad Agus Setiawan
:
Head of Other Businesses Development Division He was appointed Head of Other Businesses Development Division on 08 May 2012. He completed his Bachelor’s degree in Civil Engineering from Bandung Institute of Technology and Master’s degree in Road Network Management Technique in cooperation between Department of Public Works and University of Parahyangan Bandung. He has worked with the Company since 1996.
Hestu Budi Husodo
:
Head of Engineering Division He was appointed Head of Engineering Division on 09 February 2012. He acquired his Bachelor’s degree in Civil Engineering from Diponegoro University and Master’s degree in Management Economics from STIE Nusantara. He joined the Company in 1985.
Taruli M. Hutapea
:
Head of Operation Management Division She was appointed Head of Operation Management Division on 01 July 2012. She acquired her Bachelor’s degree in Civil Engineering from University of Indonesia. She has worked with the Company since 1986.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Dedi Krisnariawan Sunoto
Corporate Profile
He was appointed Head of Community Development Program and Partnership Program Unit on 08 December 2011. He acquired his Bachelor’s degree in Management Economics from STIA LAN Jakarta. He has worked with the Company since 1981.
259
PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corp or a te Prof il e Jasa M a r g a Key Per s o nn el
Head Office : Ricky Distawardhana
He was appointed Head of Maintenance Division on 01 July 2012. He acquired his Bachelor’s degree in Civil Engineering from Bandung Institute of Technology. He joined the Company in 1989.
Corporate Governance
Management Discussion and Analysis
Management Reports
: Emil Irfan
: Tolu Ismed Arief
Head of Legal Bureau He was appointed Head of Legal Bureau on 29 September 2006. He completed his Bachelor’s degree in Civil Law from Indonesia Islamic University, Yogyakarta. He joined the Company in 1989.
: Bambang Sancoyo
Head of General Affairs Bureau He was appointed Head of General Affairs Bureau on 29 September 2006. He completed his Bachelor’s degree in Accounting from Gadjah Mada University, Yogyakarta and his Master’s degree in Management from Pelita Harapan University. He has worked with the Company since 1995.
: M. Sofyan
Head of Corporate Planning Bureau He was appointed Head of Corporate Planning Bureau on 06 March 2012. He completed his Bachelor’s degree in Civil Engineering from 10 November Institute of Technology Surabaya and his Master’s degree in Project Management from University of Indonesia. He also acquired his Master’s degree in Business & IT from the University of Melbourne. He joined the Company in 1997.
: Syachriani Atim
Head of Accounting & Finance Bureau She was appointed Head of Accounting & Finance Bureau on 01 October 2011. She completed her Bachelor’s degree in Accounting from STIE YAI Jakarta. She has worked with the Company since 1984.
:
Head of Jasa Marga Development Center Unit He was appointed Head of Jasa Marga Development Center Unit on 08 December 2011. He completed his Bachelor’s degree in Business Administration from STIA LAN Jakarta and Master’s degree in State Management Economics from STIE IPWI Jakarta. He joined the Company in 1986.
Corporate Social Responsibility Annual Report 2012
Head of Human Resources Management Bureau He was appointed Head of Human Resources Management Bureau on 16 March 2010. He acquired his Bachelor’s degree in Civil Law from Padjadjaran University, Bandung. He has worked with the Company since 1984.
Enkky Sasono A. W.
260
Head of Maintenance Division
Constructing towards the Future
PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Corp orate P rof ile Jas a Marg a Key Per sonnel
Branch Offices
Hardjono Santoso
:
He was appointed Jagorawi Branch Manager on 01 July 2012. He acquired his Bachelor’s degree in Civil Engineering from Diponegoro University. He has worked with the Company since 1986. Cawang-Tomang-Cengkareng Branch Manager
Subakti Syukur
:
He was appointed Cawang-Tomang-Cengkareng Branch Manager on 13 April 2010. He acquired his Bachelor’s degree in Civil Engineering from Bandung Institute of Technology. He joined the Company in 1986.
Human Capital Management
Jagorawi Branch Manager
Yudhi Krisyunoro
:
He was appointed Jakarta-Cikampek Branch Manager on 01 July 2012. He acquired his Bachelor’s degree in Structural Civil Engineering from Bandung Institute of Technology and Master’s degree in Transportation Civil Engineering from University of Indonesia. He has worked with the Company since 1986. Jakarta-Tangerang Branch Manager
Supratowo
:
He was appointed Jakarta-Tangerang Branch Manager on 01 July 2012. He acquired his Bachelor’s degree in Civil Engineering from Diponegoro University. He joined the Company in 1986.
Information for Investors
Jakarta-Cikampek Branch Manager
Purbaleunyi Branch Manager :
He was appointed Purbaleunyi Branch Manager on 01 July 2012. He acquired his Bachelor’s degree in Civil Engineering from University of Indonesia. He has worked with the Company since 1988. Surabaya-Gempol Branch Manager
Agus Purnomo
:
He was appointed Surabaya-Gempol Branch Manager on 15 August 2008. He acquired his Bachelor’s degree in Civil Engineering from 10 November Institute of Technology Surabaya. He joined the Company in 1988.
Corporate Profile
Christantio Prihambodo
Sari Purnawarman
:
He was appointed Semarang Branch Manager on 01 July 2012. He acquired his Bachelor’s degree in Civil Engineering from Diponegoro University. He has worked with the Company since 1986. Belmera Branch Manager
Roy A. Darwis
:
He was appointed Belmera Branch Manager on 14 December 2009. He acquired his Bachelor’s degree in Civil Engineering from National Institute of Science & Technology and Master’s degree in Human Resources from Krisnadwipayana University. He joined the Company in 1993. Palikanci Branch Manager
Dadang Sumaryana
:
He was appointed Palikanci Branch Manager on 02 December 2011. He acquired his Bachelor’s degree in Civil Engineering from Krisnadwipayana University Jakarta. He has worked with the Company since 1988.
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Semarang Branch Manager
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PT Jasa Marga (Persero) Tbk.
Performance Highlights 2012
www.jasamarga.com
Institutions and Supporting Professionals
PUBLIC ACCOUNTANT Aryanto, Amir Jusuf, Mawar & Saptoto (RSM AAJ Associates) Plaza ABDA, Lantai 10 Jln. Jend. Sudirman Kav. 59 Jakarta 12190
Management Reports
Tel.: 62-21 5140 1340 Fax.: 62-21 5140 1350 SECURITIES ADMINISTRATION AGENCY PT Datindo Entrycom Puri Datindo - Wisma Sudirman Jln. Jend. Sudirman Kav. 34-35 Jakarta 10220
Management Discussion and Analysis
Tel.: 62-21 570 9009 Fax.: 62-21 570 9026 RATING AGENCY PT Pemeringkat Efek Indonesia Panin Tower Senayan City 17th Floor Jln. Asia Afrika Lot 19 Jakarta 10720 Tel.: 62-21 7278 2380 Fax.: 62-21 7278 2370 LEGAL CONSULTANT Soemarjono, Herman & Rekan Corporate Governance
Jln. Sultan Agung 62 Pasar Manggis, Setia Budi Jakarta Selatan 12970 DKI Jakarta NOTARY Ir. Nanette Cahyanie Handari Adi Warsito, SH. Jln. Panglima Polim V 11 Melawai, Kebayoran Baru Corporate Social Responsibility
Jakarta Selatan 12160 DKI Jakarta
262
Annual Report 2012
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PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Addresses of Jasa Marga Head Office, Branch Offices & Subsidiaries
Human Capital Management
Jasa Marga Traffic Information Center 62-21 8088 0123 Head Office Plaza Tol Taman Mini Indonesia Indah Jakarta 13550 Tel.: 62 21 841 3526/3630 Fax.: 62 21 840 1533, 841 3540 e-mail:
[email protected] Website: www.jasamarga.com
Jakarta 13560 Tel.: 62 21 841 3632, 840 0732 Fax.: 62 21 840 0055 e-mail:
[email protected] Cawang-Tomang-Cengkareng Branch Plaza Tol Cililitan Besar Jln. Cililitan Besar Jakarta 13510 Tel.: 62 21 8088 7227 Fax.: 62 21 8088 7228 e-mail:
[email protected] Jakarta-Cikampek Branch Jln. Teuku Umar, Sepanjang Jaya Rawa Lumbu Bekasi 17114 Tel.: 62 21 821 6515, 8243 0045/48 Fax.: 62 21 821 6507 e-mail:
[email protected] Jakarta-Tangerang Branch Plaza Tol Tangerang Jln. Raya Serpong Tangerang Banten 15001 Jawa Barat Tel.: 62 21 5575 3904/6237 Fax.: 62 21 5575 4029
Jln. Jend. Sudirman No. 138 Ciperna
Information for Investors
Jln. Raya Taman Mini Indonesia Indah
Palikanci Branch
Cirebon 45171 Tel.: 62 231 489 800, 484 268 Fax.: 62 231 483 457 e-mail:
[email protected] Purbaleunyi Branch Plaza Tol Pasteur Jln. Dr. Djundjunan No. 257 Bandung 40164 Tel.: 62 22 200 0867/68 Fax.: 62 22 201 1433 e-mail:
[email protected] Semarang Branch Plaza Tol Manyaran
Corporate Profile
Jagorawi Branch
Jln. Tol Semarang Semarang 50147 Tel.: 62 24 760 6012/14 Fax.: 62 24 762 3940 e-mail:
[email protected] Surabaya-Gempol Branch Plaza Tol Kota Satelit Jln. Mayjen. Sungkono Surabaya 60189 Tel.: 62 31 567 9401/2008 Fax.: 62 31 732 9941 e-mail:
[email protected]
e-mail:
[email protected]
Constructing towards the Future
Annual Report 2012
Management Responsibility for Annual Report 2012
Branch Offices
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PT Jasa Marga (Persero) Tbk. www.jasamarga.com Performance Highlights 2012
Corp or a te Prof il e Addres ses of Ja sa M a r ga H ea d O f f i c e, B r a n c h O f f i ces & S ubs i di ari es
Belmera Branch Jln. Simpang Tanjung No. 1A Medan 20241 Tel.: 62 61 661 1701/2920 Fax.: 62 61 661 1055 e-mail:
[email protected]
Management Reports
Subsidiaries PT Jalantol Lingkarluar Jakarta
PT Marga Nujyasumo Agung
Plaza Tol Jati Asih
Jln. Pagesangan Baru No. 9
Bekasi 17423
Surabaya
Tel.: 62 21 822 3232
Tel.: 62 31 829 7696/32
Fax.: 62 21 820 5151
Fax.: 62 31 827 5419
e-mail:
[email protected]
Kantor Jakarta Tel.: 62 21 798 0394/7640
PT Marga Sarana Jabar
Fax.: 62 21 799 4694, 798 0464
Corporate Social Responsibility
Corporate Governance
Management Discussion and Analysis
Plaza Tol Sentul Barat, Jalan Tol Lingkar Luar Bogor
PT Trans Marga Jatim Pasuruan
Bogor 16710
Perumahan Pondok Mutiara Blok A7
PO BOX 2012
Sidoarjo
Tel.: 62 251 837 1310 , 833 3375
Jawa Timur
Fax.: 62 251 834 6232
Tel.: 031 8955707 Fax.: 031 8955707
PT Trans Marga Jateng Jln. Murbei No. 1
PT Jasamarga Bali Tol
Sumur Boto Banyumanik
Ikat Plaza
Semarang
Jln. By Pass I Gusti Ngurah Rai No. 505
Jawa Tengah
Pemogan 80221
Tel.: 62 24 747 5735
Denpasar, Bali
Fax.: 62 24 747 5735
Tel.: 0361-725326 Fax.: 0361-725327
PT Marga Kunciran Cengkareng Ruko Business Park Tangerang City No. A 19
PT Margabumi Adhikaraya
Jln. Jend. Sudirman No. 1 Cikokol
Perum Pondok Mutiara Blok BK No. 12
Tangerang 15117
Sidoarjo, Jawa Timur
Tel.: 62 21 5578 2453
Tel.: 031 8073542
Fax.: 62 21 5578 2456
Fax. : 031 8073542
PT Marga Trans Nusantara
PT Sarana Marga Utama
Ruko Bidex Blok H. No. 7
Puri Sentra Niaga Blok D-64 Lt. 3
Jln. Pahlawan Seribu, BSD City
Jln. Seulawah Raya
Tangerang
Jakarta Timur
Tel.: 62 21 5315 4680
Tel.: 021 8604858
Fax.: 62 21 5315 4681
Fax.: 021 8604857
PT Marga Lingkar Jakarta
PT Jasamarga Properti
Plaza Pondok Indah 3 Blok B No. 7
Plaza Tol Taman Mini Indonesia Indah
Jln. T. B. Simatupang
Jln. Jasa Marga RT 008/002
Jakarta
Kel. Dukuh, Kec. Kramat Jati Jakarta Timur
264
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PT Jasa Marga (Persero) Tbk.
www.jasamarga.com
Management Responsibility for Annual Report 2012 STATEMENT OF THE BOARD OF COMMISSIONERS AND DIRECTORS ON THE RESPONSIBILITY FOR ANNUAL REPORT 2012 PT JASA MARGA (PERSERO) TBK. We, the undersigned, herewith declare that all information contained in the Annual Report 2012 of PT Jasa Marga (Persero) Tbk. is complete and we are fully responsible for the content of the Company’s Annual Report. This statement is made truthfully.
Human Capital Management
Pro fi l Perusa ha a n
Information for Investors
Jakarta, April 2013
Agoes Widjanarko Chairman
Irjen Polisi (Purn.) Michael Dendron Primanto Independent Commissioner
Adityawarman President Director/CEO
Hasanudin Operation Director
Abdul Hadi Hs. Business Development Director
Reynaldi Hermansjah Finance Director
Muh Najib Fauzan Human Capital & General Affairs Director
Constructing towards the Future
Annual Report 2012
Corporate Profile
Mayjen. (Purn). Samsoedin Independent Commissioner
Joyo Winoto Commissioner
Management Responsibility for Annual Report 2012
Akhmad Syakhroza Commissioner
Ibnu Purna Commissioner
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www.jasamarga.com
Pro fi l Perusa ha a n
Consolidated
Financial Statements
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267
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK Laporan Keuangan Konsolidasian Untuk Tahun-tahun yang Berakhir pada 31 Desember 2012 dan 2011 serta Laporan Posisi Keuangan Konsolidasian Per 1 Januari 2011/31 Desember 2010
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES Consolidated Financial Statements For the Years Ended December 31, 2012 and 2011, and Consolidated Statement of Financial Position as of January 1, 2011/December 31, 2010
Paraf/Sign: 268
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK Daftar Isi
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES Halaman/ Page
Surat Pernyataan Direksi
Table of Contents
Directors’ Statement Letter
Laporan Auditor Independen
Independent Auditor’s Report
Laporan Keuangan Konsolidasian Untuk Tahun-tahun yang Berakhir Tanggal 31 Desember 2012 dan 2011 Serta Laporan Posisi Keuangan Konsolidasian Tanggal 1 Januari 2011/31 Desember 2010
Consolidated Financial Statements For the Years Ended December 31, 2012 and 2011, and Consolidated Statement of Financial Position as of January 1, 2011/ December 31, 2010
Laporan Posisi Keuangan Konsolidasian
1
Consolidated Statements of Financial Position
Laporan Laba Rugi Komprehensif Konsolidasian
3
Consolidated Statements of Comprehensive Income
Laporan Perubahan Ekuitas Konsolidasian
4
Consolidated Statements of Changes in Equity
Laporan Arus Kas Konsolidasian
5
Consolidated Statements of Cash Flows
Catatan Atas Laporan Keuangan Konsolidasian
6
Notes to the Consolidated Financial Statements
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As of December 31, 2012, 2011 and January 1, 2011/December 31, 2010 (In Thousand Rupiah, Unless Otherwise Stated)
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK LAPORAN POSISI KEUANGAN KONSOLIDASIAN Per 31 Desember 2012, 2011 dan 1 Januari 2011/31 Desember 2010 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
Catatan Notes ASET ASET LANCAR Kas dan Setara Kas Investasi Jangka Pendek Piutang Lainnya Biaya Dibayar di Muka Pajak Dibayar di Muka Total Aset Lancar ASET TIDAK LANCAR Dana Ditetapkan Penggunaannya Investasi pada Entitas Asosiasi Aset Keuangan Lainnya Aset Tetap (Setelah dikurangi akumulasi penyusutan sebesar Rp 532.739.591, Rp 426.233.760 dan Rp 351.588.442 per 31 Desember 2012, 2011 dan 2010) Aset Takberwujud Hak Pengusahaan Jalan Tol (Setelah dikurangi akumulasi amortisasi sebesar Rp 7.519.787.852, Rp 2.809.034.385 dan Rp 2.409.796.098 per 31 Desember 2012, 2011 dan 2010) Lainnya Goodwill Aset Lain-lain Total Aset Tidak Lancar
2012 Rp
2011*) Rp
1 Jan 2011/ 31 Des 2010) Jan 1, 2011/ Dec 31, 2010*) Rp ASSETS CURRENT ASSETS Cash and cash Equivalents Short-term Investment Account Receivables Prepaid Expenses Prepaid Tax Total Current Assets
3.d, 3.e, 5 3.d, 6 3.d, 7 3.g, 8 9.a
4,302,382,487 7,821,744 64,092,326 155,529,466 1,291,131 4,531,117,154
3,764,008,591 38,787,728 87,993,593 101,985,146 3,965,464 3,996,740,522
4,011,558,162 27,470,020 23,629,806 22,740,587 4,710,614 4,090,109,189
3.d,10 3.d, 3.j, 11 3.d, 12 3.h, 13
165,044,677 175,745,092 241,607,444
45,200,244 200,921,819 114,797,944
49,189,394 201,270,895 116,147,942
422,506,867
397,098,595
297,810,130
18,553,815,470 332,711,412 41,848,567 289,154,758 20,222,434,287
15,571,088,046 213,190,107 41,848,567 335,004,723 16,919,150,045
13,050,234,367 360,268,986 42,533,786 261,127,251 14,378,582,751
NON CURRENT ASSETS Appropriated Funds Investment in Associates Other Financial Assets Property and Equipment (Net accumulated amortization of Rp 532.739.591, Rp 426.233.760 and Rp 351.588.442 as of December 31,2012, 2011 and 2010) Intangible Assets Toll Road Concession Rights (Net accumulated amortization of Rp 7,519,787,852, Rp 2,809,034,385 and Rp Rp 2,409,796,098 as of December 31,2012, 2011 and 2010) Others Goodwill Other Assets Total Non Current Assets
24,753,551,441
20,915,890,567
18,468,691,940
TOTAL ASSETS
3.k, 14
3.t, 15 16
TOTAL ASET *) Disajikan kembali, lihat Catatan 4/ Restated, see Note 4
Catatan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan 274
d1/March 24, 2013
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Constructing towards the Future
The accompanying notes form an integral part of these consolidated financial statements
1
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As of December 31, 2012, 2011 and January 1, 2011/December 31, 2010 (In Thousand Rupiah, Unless Otherwise Stated)
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK LAPORAN POSISI KEUANGAN KONSOLIDASIAN Per 31 Desember 2012, 2011 dan 1 Januari 2011/31 Desember 2010 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
LIABILITAS DAN EKUITAS LIABILITAS JANGKA PENDEK Utang Usaha Utang Kontraktor Utang Pajak Utang Lainnya Beban Akrual Liabilitas Jangka Panjang yang Jatuh Tempo dalam Satu tahun Utang Bank Utang Obligasi Utang Bantuan Pemerintah Liabilitas Kerjasama Operasi Liabilitas Pembebasan Tanah Utang Sewa Guna Usaha Provisi Pelapisan Jalan Tol Total Liabilitas Jangka Pendek
Catatan/ Notes
2012 Rp
2011*) Rp
1 Jan 2011/ 31 Des 2010) Jan 1, 2011/ Dec 31, 2010*) Rp
3.d, 18 3.d, 19 3.q, 9.b 3.d, 20 21
92,043,627 1,325,014,167 281,375,171 36,384,038 437,317,112
136,141,780 608,921,041 84,534,137 42,632,202 480,072,443
130,307,565 384,048,181 164,291,799 31,786,337 328,465,740
3.d, 17 3.d, 3.m, 27 3.d, 22 3.d, 23 3.d, 26 3.d, 24 3.l, 28
1,640,778,297 1,771,616,920 5,886,734 820,302 809,430,952 18,471,092 229,025,982 6,648,164,394
1,631,876,383 -14,442,902 820,302 867,271,758 12,121,937 190,666,107 4,069,500,992
1,291,579,145 -14,442,902 820,302 121,906,851 10,630,440 246,274,202 2,724,553,464
57,119,855 466,565,928
49,295,196 422,310,725
43,400,613 323,764,212
3,046,235,536 3,749,446,582 -21,385,911 374,102,952 27,356,411 95,773,316 202,454,407 277,160,581 8,317,601,479
1,550,702,483 5,516,485,411 5,886,734 23,983,532 307,928,457 54,642,148 108,852,653 202,454,407 243,338,174 8,485,879,920
1,233,334,913 5,513,020,037 20,329,636 26,520,711 398,281,854 66,305,484 90,620,773 202,454,407 206,716,721 8,124,749,361
14,965,765,873
12,555,380,912
10,849,302,825
LIABILITAS JANGKA PANJANG Pendapatan Diterima di Muka Liabilitas Pajak Tangguhan Liabilitas Jangka Panjang - Setelah Dikurangi Bagian yang Jatuh Tempo Dalam Satu Tahun: Utang Bank Utang Obligasi Utang Bantuan Pemerintah Liabilitas Kerjasama Operasi Liabilitas Pembebasan Tanah Utang Sewa Guna Usaha Provisi Pelapisan Jalan Tol Liabilitas Jangka Panjang Lainnya Liabilitas Imbalan Kerja Total Liabilitas Jangka Panjang
TOTAL LIABILITAS DAN EKUITAS
Accounts Payable Contractors Payable Taxes Payable Other Payables Accrued Expenses Short Term Maturities of Long-Term Liabilities Bank Loans Bonds Payable Loan from Government Joint Operation Liabilities Land Acquisition Liabilities Financial Lease Payable Provision for Overlay Total Current Liabilities NON CURRENT LIABILITIES
25 8.d, 9
3.d, 17 3.d, 3.m, 27 3.d, 22 3.d, 23 3.d, 26 3.d, 24 3.l, 28 3.r, 29
Total Liabilitas EKUITAS Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk Modal Saham Modal Dasar 19.040.000.000 saham nilai nominal Rp 500 (Rupiah penuh) per saham, Modal ditempatkan dan disetor 6.800.000.000 saham terdiri dari 1 Saham Seri A Dwiwarna dan 6.799.999.999 Saham Seri B pada tanggal 31 Desember 2012, 2011 dan 2010 Tambahan Modal Disetor Keuntungan (Kerugian) yang Belum Direalisasi dari Efek Tersedia untuk Dijual Saldo Laba Modal Saham Diperoleh Kembali Total Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk Kepentingan Non Pengendali Total Ekuitas
LIABILITES AND EQUITY CURRENT LIABILITIES
31 32
3.x, 33
3.u, 30
Unearned Revenue Deferred Tax Liabilities Long Term Liabilities Net of Short Term Maturities: Bank Loans Bonds Payable Loans from Government Joint Operation Liabilities Land Acquisition Liabilities Financial Lease Payable Provision for Overlay Other Long Term Liabilities Employee Benefits Liabilities Total Non Current Liabilities Total Liabilities
2,453,890,100
3,400,000,000 2,335,525,034
3,400,000,000 2,335,525,034
3,292,095 2,753,965,166 --
2,758,079 1,714,448,962 (12,261,750)
1,540,370 1,270,036,637 (12,261,750)
8,611,147,361 1,176,638,207 9,787,785,568
7,440,470,325 920,039,330 8,360,509,655
6,994,840,291 624,548,824 7,619,389,115
EQUITY Equity Attributable to Owners of the Parent Share Capital Authorized of 19,040,000,000 sharespar value of Rp. 500 (full amount) per share, Issued and fully paid up capital of 6,800,000,000 shares comprising 1 Series A Dwiwama share and 6,799,999,999 shares series B as of December 31, 2012, 2011 and 2010 Additional Paid in Capital Unrealized Gain (Loss) on Securities Available for Sale Retained earnings Treasury Stocks Equity Attributable to Owners of the Parent Non-Controling Interests Total Equity
24,753,551,441
20,915,890,567
18,468,691,940
TOTAL LIABILITIES AND EQUITY
3,400,000,000
*) Disajikan kembali, lihat Catatan 4/ Restated, see Note 4
Catatan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan
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The accompanying notes form an integral part of these consolidated financial statements
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK
CONSOLIDATED STATEMENTS OF COMPREHENSIF INCOME For The Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
LAPORAN LABA RUGI KOMPREHENSIF KONSOLIDASIAN Untuk Tahun-tahun yang Berakhir pada 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
Catatan/ Notes Notes PENDAPATAN USAHA Pendapatan Tol Pendapatan Konstruksi Pendapatan Usaha Lainnya Total Pendapatan Usaha
2012 Rp
2011*) Rp OPERATING REVENUES Toll Revenues Construction Revenues Others Operating Revenues Total Operating Revenue
3.o, 34 3.o, 35 3.o, 36
5,581,752,793 3,344,997,734 143,468,547 9,070,219,074
4,843,229,958 1,496,232,562 146,309,385 6,485,771,905
3.o, 37 3.o, 38 3.o, 39 3.o, 40 3.o, 35 3.o, 41 3.o, 43 3.o, 44
(705,621,185) (276,506,441) (882,245,033) (285,225,065) (3,310,946,174) (974,916,052) 400,171,550 (59,694,757) (6,094,983,157) 2,975,235,917
(628,519,717) (257,964,092) (757,363,791) (307,390,971) (1,483,262,077) (906,293,154) 243,745,479 (58,258,714) (4,155,307,037) 2,330,464,868
Toll Collection Expenses Toll Road Service Expenses Toll Road Maintenance Expenses Joint Operations Expenses Constructions Expenses General and Administrative Expenses Other Income Other Operating Expenses
(916,145,910) (3,833,305) (919,979,215)
(740,400,368) 110,658 (740,289,710)
Finance Charges Net Income from Associates
2,055,256,702
1,590,175,158
INCOME BEFORE TAXES
519,444,502
410,893,321
Expenses (Income) Tax
1,535,812,200
1,179,281,837
INCOME FOR THE YEAR
BEBAN USAHA
OPERATING EXPENSES
Beban Pengumpulan Tol Beban Pelayanan Pemakai Jalan Tol Beban Pemeliharaan Jalan Tol Beban Kerjasama Operasi Beban Konstruksi Beban Umum dan Administrasi Penghasilan Lain-lain Beban Lain-lain LABA USAHA Biaya Keuangan Bagian Laba Bersih Entitas Asosiasi
42
LABA SEBELUM PAJAK Beban (Penghasilan) Pajak
3.q, 9.c
LABA TAHUN BERJALAN PENDAPATAN KOMPREHENSIF LAIN
OTHER COMPREHENSIVE INCOME
Keuntungan yang Belum Direalisasi dari Efek Tersedia untuk Dijual TOTAL LABA KOMPREHENSIF TAHUN BERJALAN
534,016
1,217,709
1,536,346,216
1,180,499,546
Laba (Rugi) Tahun Berjalan yang Dapat Diatribusikan kepada:
Unrealized Gain on Securities Available for Sale TOTAL COMPREHENSIVE INCOME FOR THE YEAR Income (Loss) for the Year Attributable to:
Pemilik Entitas Induk Kepentingan Non Pengendali
1,602,090,230 (66,278,030) 1,535,812,200
1,196,308,926 (17,027,089) 1,179,281,837
1,602,624,246 (66,278,030) 1,536,346,216
1,197,526,635 (17,027,089) 1,180,499,546
235.91
176.56
Owner of the Parent Non Controlling Interest
Total Comprehensive Income Attributable to:
Laba Komprehensif yang Dapat Diatribusikan kepada: Pemilik Entitas Induk Kepentingan Non Pengendali
Laba Bersih Per Saham (Rupiah penuh)
OPERATING INCOME
3.w, 50
Owner of the Parent Non Controlling Interest
Earnings Per Share (full Rupiah)
*) Disajikan kembali, lihat Catatan 4/ Restated, see Note 4
Catatan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan 276
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Constructing towards the Future
The accompanying notes form an integral part of these consolidated financial statements
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---12,261,750 --
--
3,400,000,000
---
-----
---
(12,261,750)
--
--
3,400,000,000
----
----
Catatan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan
Pembagian Laba Tahun 2011 Deviden Cadangan Umum Dana Program Kemitraan dan Bina Lingkungan Cadangan Wajib Laba (Rugi) Komprehensif Tahun Berjalan Penjualan Modal Saham Diperoleh Kembali Penerbitan Saham kepada Kepentingan Non Pengendali Saldo Per 31 Desember 2012
Saldo Per 31 Desember 2011
---
-(12,261,750)
2,453,890,100
--
---118,365,066
---
2,335,525,034
--
----
---
-2,335,525,034
100,000,000
--
-25,000,000 ---
---
75,000,000
--
-25,000,000 --
---
-50,000,000
4
1,940,201,829
--
-----
-751,887,942
1,188,313,887
--
----
-416,590,067
-771,723,820
713,763,337
--
(26,789,239) (25,000,000) 1,602,090,230 --
(535,784,787) (751,887,942)
451,135,075
--
(35,804,600) (25,000,000) 1,196,308,926
(716,092,001) (416,590,067)
(745,173,576) 448,312,817
3,292,095
--
--
--534,016
---
2,758,079
--
--1,217,709
---
-1,540,370
312,517,595
312,517,595
8,611,147,361
--
-1,602,624,246 130,626,816
9,787,785,568
322,876,907
-1,536,346,216 130,626,816
(26,789,239)
--
(535,784,787)
8,360,509,655
Obligatory Reserves Comprehensive Income for the Year Selling of Treasury Stock Issuance of Shares to Non controlling interest Balance As of December 31, 2012
Profit Distribution of 2011 Dividends General Reserves Partnership and Community Development Program
Balance As of December 31, 2011
Obligatory Reserves Comprehensive Income for the Year Issuance of Shares to Non Controlling Interest
Dividends General Reserves Partnership and Community Development Program
Adjustments Due to Implementation of ISAK No.16 and other Adjustment Balance As of January 1, 2011 after restatement Profit Distribution of 2010
Balance As of December 31, 2010
paraf/sign:
The accompanying notes form an integral part of these consolidated financial statements
1,176,638,207
322,876,907
--
--(66,278,030)
(26,789,239)
--
---
(535,784,787)
7,440,470,325
--
920,039,330
-1,180,499,546
(35,804,600)
---(17,027,089)
-1,197,526,635
-(35,804,600)
(716,092,001)
7,619,389,115
(740,077,312)
Rp 8,359,466,427
Total Ekuitas/ Total Equity
---
5,096,264 624,548,824
Rp 619,452,560
Kepentingan Non Pengendali/ Non Controlling Interests
(716,092,001)
6,994,840,291
(745,173,576)
Rp 7,740,013,867
Total
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY For The Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk/ Equity Atributable to Owner of The Parent Modal Saham Tambahan Modal Laba (Rugi) Belum Saldo Laba/Retained Earnings Diperoleh Disetor/ Direalisasi Efek Kembali/ Additional Tersedia Untuk Dijual/ Treasury Stocks Paid in Capital Cadangan Wajib/ Cadangan Umum/ Belum Ditentukan Unrealized Gain (Loss) Appropriated General Reserves Penggunaannya/ on Securities Mandatory Reserves Unappropriated Available for Sale Rp Rp Rp Rp Rp Rp 1,540,370 (12,261,750) 2,335,525,034 50,000,000 771,723,820 1,193,486,393
---
-3,400,000,000
Penyesuaian sehubungan penerapan ISAK No. 16 dan Penyesuaiann Lainnya Saldo 1 Januari 2011 setelah disajikan kembali
Pembagian Laba Tahun 2010 Deviden Cadangan Umum Dana Program Kemitraan dan Bina Lingkungan Cadangan Wajib Laba (Rugi) Komprehensif Tahun Berjalan Penerbitan Saham kepada Kepentingan Non Pengendali
Rp 3,400,000,000
Saldo Per 31 Desember 2010
Modal Saham/ Share Capital
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN Untuk Tahun-tahun yang Berakhir pada 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK LAPORAN ARUS KAS KONSOLIDASIAN Untuk Tahun-Tahun yang Berakhir pada 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) es
Catatan/ Notes Notes
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
2012 Rp
2011 Rp
ARUS KAS DARI AKTIVITAS OPERASI
CASH FLOWS FROM OPERATING ACTIVITIES
Penerimaan Pendapatan Tol Penerimaan Pendapatan Lainnya Pembayaran Kepada Pemasok dan Pihak Ketiga Pembayaran Kepada Karyawan Pembayaran Beban Kerjasama Operasi Pembayaran Pajak Pembayaran Bunga Pinjaman
5,581,752,793 143,468,547 (943,874,701) (1,085,623,357) (409,422,821) (500,811,276) (856,013,532)
4,843,229,958 119,217,509 (758,400,591) (955,674,675) (310,897,277) (403,538,780) (748,204,665)
Receipts from Toll Revenues Receipts from Other Revenues Payments to Vendors and Third Parties Payments to Employees Payments of Under Joint Operation Agreemets Payments of Taxes Payment Interest of Bond Payable and Bank Loan
Arus Kas Neto Diperoleh dari Aktivitas Operasi
1,929,475,653
1,785,731,479
Net Cash Flows Provided from Operating Activities
ARUS KAS DARI AKTIVITAS INVESTASI
CASH FLOWS FROM INVESTING ACTIVITIES
Pencairan (Penempatan) Investasi Jangka Pendek - Bersih Penjualan (Penambahan) Investasi Jangka Panjang Penerimaan Bunga PeroIehan Aset Tetap Selain Jalan Tol Pembayaran Biaya Pelapisan Ulang Perolehan Asset hak pengusahaan jalan tol
30,259,823 187,502,064 196,330,595 (297,740,299) (290,132,389) (2,462,755,349)
231,108,195 (257,063,768) (328,917,896) (1,885,940,791)
Proceeds from (Placement ot) Short Term Investment - Net Proceeds from Long Term Invesment - Net Receipts from Interest Income Other Then Toll Road Expenditure Overtey Charges Expenditure Addition of Construction in Progress
Arus Kas Neto Digunakan untuk Aktivitas Investasi
(2,636,535,555)
(2,239,514,260)
Net Cash Flows Used in Investing Activities
1,641,983,174 (59,446,222)
317,367,570 (7,164,083)
(119,844,473)
3,956,847
(8,556,168) (562,574,203)
(14,442,902) (751,903,203)
66,174,505 130,768,590 156,928,595 1,245,433,798
345,711,321 312,675,357 206,200,907
Sales from Treasury Stock Subsidiary Companies Net Cash Flow Provided from Financing Activities
538,373,896
(247,581,874)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
SALDO KAS DAN SETARA KAS PADA AWAL TAHUN
3,764,008,591
4,011,590,465
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR
SALDO KAS DAN SETARA KAS PADA AKHIR TAHUN
4,302,382,487
3,764,008,591
CASH AND CASH EQUIVALENTS AT END OF THE YEAR
77,831,751 267,318,660 3,957,232,075 4,302,382,487
36,586,011 356,420,728 3,371,001,852 3,764,008,591
1,300,000
--
ARUS KAS DARI AKTIVITAS PENDANAAN
CASH FLOWS FROM FINANCING ACTIVITIES
Penerimaan Utang Bank Pelunasan Utang Bank Pencairan (Penempatan) Dana Ditetapkan Penggunaannya-Bersih Pembayaran Utang Bantuan Pemerintah Pembayaran Dividen dan PKBL Setoran Modal Hak Minoritas Pada Penerimaan Bantuan Pembebasan Tanah Penjualan dari Saham Treasury Anak Perusahaan Arus Kas Neto Diperoleh dari Aktivitas Pendanaan KENAIKAN (PENURUNAN) NETO KAS DAN SETARA KAS
Kas dan Setara Kas Terdiri dari :
5
Kas Bank Deposito Berjangka Total
Cash and Cash Equivalents, Consist of:
Catatan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan
D1/
Annual Report 2012
Constructing towards the Future
Cash on Hand Cash in Banks Time Deposits Total Supplemental cash flows information of non cash investing activities in presented in Note 53
Tambahan informasi aktivitas investasi yang tidak mempengaruhi arus kas disajikan pada Catatan 53
278
--
Proceeds from Bank Loans Payment of Bank Loans Increase (Decrease) of Appropriated Fund Net Payment of Loan from Government Payments of Dividend and Partnership and Community Development Program (PKBL) Paid in Capital on minority interest at
The accompanying notes form an integral part of these consolidated financial statements
5
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Years Ended December 31, 2011 and 2010 (In Thousand Rupiah, Unless Otherwise Stated
1. Umum
1.
General
1.a. Pendirian Perusahaan PT Jasa Marga (Persero) Tbk, selanjutnya disebut Perusahaan, dibentuk berdasarkan Peraturan Pemerintah Republik Indonesia No. 4 Tahun 1978 tentang Penyertaan Modal Negara Republik Indonesia mengenai pendirian Perusahaan Perseroan (Persero) di bidang pengelolaan, pemeliharaan dan pengadaan jaringan jalan tol, serta ketentuan-ketentuan pengusahaannya (Lembaran Negara Republik Indonesia No. 4 Tahun 1978 juncto Surat Keputusan Keuangan Republik Indonesia Menteri No. 90/KMK.06/1978 tentang Penetapan Modal Perusahaan Perseroan (Persero) PT Jasa Marga, tanggal 27 Pebruari 1978).
1.a. The Company’s Establishment PT Jasa Marga (Persero) Tbk, here in after referred to as "the Company", was established under the framework of Government Regulation No. 4 of 1978 regarding the State Capital Investment for the establishment of a State-Owned Company (Persero) in the area of management, maintenance and development of toll roads and the detailed management regulations (State Gazette No. 4 of 1978 in conjunction with the Decree of the Ministry of Finance of the Republic of Indonesia N o . 90/KMK.06/1978 regarding the Determination of the Share Capital of PT Jasa Marga (Persero) dated February 27, 1978).
Perusahaan didirikan berdasarkan Akta No. 1, tanggal 1 Maret 1978 dari Notaris Kartini Mulyadi, SH, dan telah disahkan oleh Menteri Kehakiman Republik Indonesia No. Y.A.5/130/1, tanggal 22 Pebruari 1982 dan didaftarkan di Kantor Pengadilan Negeri Jakarta No. 766 dan No. 767, tanggal 2 Maret 1982 serta diumumkan dalam Lembaran Berita Negara Republik Indonesia No. 73, tanggal 10 September 1982, tambahan No. 1138.
The Company was established based on the Deed of Notary Kartini Mulyadi, SH, No. 1 dated March 1, 1978 and was approved by the Minister of Justice of the Republic of Indonesia in the Decree No. Y.A.5/130/1 dated February 22, 1982, filed in Jakarta High Court No. 766 and 767 on March 2, 1982 and was published in the State Gazette No. 73, dated September 10, 1982, adddition No. 1138.
Anggaran Dasar Perusahaan telah beberapa kali mengalami perubahan dan terakhir berdasarkan keputusan Rapat Umum Pemegang Saham Luar Biasa pada tanggal 12 September 2007, tentang perubahan seluruh Anggaran Dasar Perusahaan dalam rangka Penawaran Umum Perdana Saham, termasuk peningkatan modal dasar, modal ditempatkan dan disetor, perubahan nilai nominal dan klasifikasi saham, perubahan status Perusahaan dari perusahaan tertutup menjadi perusahaan terbuka, dan perubahan nama Perusahaan menjadi Perusahaan Perseroan (Persero) PT Jasa Marga (Indonesia Highway Corporation) Tbk atau PT Jasa Marga (Persero) Tbk. Keputusan mengenai perubahan seluruh Anggaran Dasar tersebut dinyatakan dalam Akta No. 27, tanggal 12 September 2007 dari Notaris Ny. Poerbaningsih Adi Warsito SH. Akta tersebut telah memperoleh pengesahan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia melalui Keputusan No. W7-10487 HT.01.04-TH.2007, tanggal 21 September 2007.
The Company's articles of association has been amended several times and the last based on the decision of the Extraordinary General Meeting of Shareholders dated September 12, 2007, regarding the changes of the Company's articles of association regarding to Initial Public Offering, including the increase of authorized capital, issued and fully paid capital, changes of par value end the classification of share, changes of the Company's status from private company become public company, and changes name of the Company become State-Owned Company (Persero) PT Jasa Marga (Indonesia Highway Corporation) Tbk or PT Jasa Marga (Persero) Tbk. The decision of the changes of the Company’s articles of association is put forth into the Deed No. 27, dated September 12, 2007 from Notary Ny. Poerbaningsih Adi Warsito SH. These amendments have been approved by the Decree of the Minister of Law and Human Rights of the Republic of Indonesia No. W7-10487 HT.01.04-TH.2007, dated September 21, 2007.
Berdasarkan Pasal 3 Anggaran Dasar, maksud dan tujuan Perusahaan adalah turut serta melaksanakan dan menunjang kebijaksanaan dan program Pemerintah di bidang ekonomi dan pembangunan nasional pada umumnya, khususnya pembangunan dibidang pengusahaan jalan tol dengan sarana penunjangnya dengan menerapkan prinsip-prinsip perusahaan terbatas.
According to Article 3 of the Company's Articles of Association, the elm and purpose of the Company's activities are to engage in performing and assisting the Government's programs and policies in economy sector and generally in national development, specially in development of toll roads and all their supporting facilities with comply to the principles of limited liability company.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2011 and 2010 (In Thousand Rupiah, Unless Otherwise Stated
Untuk mencapai maksud dan tujuan tersebut, Perusahaan melaksanakan kegiatan usaha sebagai berikut:
For these purposes, the Company performs the following activities :
(i)
Melakukan perencanaan teknis, pelaksanaan konstruksi, pengoperasian dan/atau pemeliharaan jalan tol; (ii) Mengusahakan lahan di ruang milik jalan tol (Rumijatol) dan lahan yang berbatasan dengan Rumijatol untuk tempat istirahat dan pelayanan berikut dengan fasilitas-fasilitasnya dan usaha lainnya, baik diusahakan sendiri maupun bekerja sama dengan pihak lain; dan (iii) Menjalankan kegiatan dan usaha lain dalam rangka pemanfaatan dan pengembangan sumber daya yang dimiliki Perusahaan, baik secara langsung maupun melalui penyertaan, dengan memperhatikan peraturan perundang-undangan.
(i)
Perusahaan berdomisili di Jakarta dan pada saat ini mengoperasikan 25 ruas jalan tol yang dikelola oleh 9 kantor cabang dan Entitas Anak dengan rincian sebagai berikut :
The Company locates in Jakarta and is currently operating 25 toll roads managed by its 9 branch offices and the Company’s Subsidiaries with details are as follows :
To perform technical planning, construction, operate and/or maintenance of toll road;
(ii) To organize the land in toll road area (Rumijatol) and the land to border on Rumijatol using for rest area and service including facilities and other business operated either separately or in cooperation with other parties; and (iii) To perform other activity and business in order to utilize and develop the Company's resources, either directly or through investment, subject to law and regulation.
Ruas Jalan Tol / Toll Road Sections Kantor Cabang/Branch Offices Jagorawi Jakarta - Tangerang Cawang – Tomang - Cengkareng Surabaya - Gempol Jakarta – Cikampek Purbaleunyi
Jakarta - Bogor- Ciawi Jakarta - Tangerang Cawang - Tomang – Pluit dan/and Prof. Dr. Ir. Soedijatmo Surabaya – Gempol Jakarta – Cikampek Cikampek-Padalarang dan/and Padalarang - Cileunyi
Semarang Belmera
Semarang Section A B C Belawan - Medan - Tanjung Morawa
Palikanci
Palimanan – Kanci
Entitas Anak / Subsidiaries PT Jalantol Lingkarluar Jakarta
Jakarta Outer Ring Road (JORR) Section El, E2, E3, W2 dan/and JORR Section S
PT Marga Sarana Jabar (MSJ)
dan/and Pondok Aren - Bintaro Viaduct - Ulujami Bogor Ring Road
PT Trans Marga Jateng (TMJ) PT Marga Nujyasumo Agung (MNA)
Semarang – Solo Surabaya – Mojokerto
PT Marga Kunciran Cengkareng (MKC) PT Marga Trans Nusantara (MTN)
Kunciran – Batu Ceper – Cengkareng *) Kunciran – Serpong *)
PT Trans Marga Jateng (TMJ) PT Marga Nujyasumo Agung (MNA)
Semarang – Solo Surabaya – Mojokerto
PT Transmarga Jatim Pasuruan (TJP) PT Margabumi Adhikaraya (MAR)
Gempol – Pasuruan Gempol – Pandaan
PT Jasamarga Bali Tol (JBT) PT Marga Lingkar Jakarta (MLJ)
Nusa Dua – Benoa *) JORR W2 Utara (Ulujami – Kebon Jeruk) *)
*) Belum Beroperasi/ Not Yet Operated
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Perusahaan mulai beroperasi secara komersial sejak tahun 1978.
The Company commenced its commercial operations in 1978.
1.b. Entitas anak
1.b. Subsidiaries
1.b.1. PT Jalantol Lingkarluar Jakarta (JLJ)
1.b.1. PT Jalantol Lingkarluar Jakarta (JLJ)
PT Jalantol Lingkarluar Jakarta didirikan berdasarkan Akta No. 113, tanggal 22 Desember 2000 dari Notaris Agus Madjid, SH, dan telah disahkan oleh Menteri Kehakiman Republik Indonesia No. C1598.HT.01.01-Th 2001, tanggal 6 Maret 2001. Perubahan Anggaran Dasar terakhir berdasarkan Akta No. 95 tanggal 30 Desember 2003 dari Agus Madjid, SH, sehubungan dengan perubahan maksud dan tujuan serta kegiatan usaha JLJ. Akta Perubahan Anggaran Dasar tersebut telah memperoleh pengesahan dari Menteri Kehakiman dan Hak Asasi Manusia Republik Indonesia melalui Keputusan No.C-05376 HT.01.04.TH.2004, tanggal 4 Maret 2004. JLJ berdomisili di Jakarta.
PT Jalantol Lingkarluar Jakarta was established based on the Deed of Notary Agus Madjid, SH, No. 113 dated December 22, 2000. This Deed has been approved by the Minister of Justice of the Republic of Indonesia No.C1598.HT.01.01-Th. 2001, dated March 6, 2001. The most recent changes of the last Company's article association based on the Deed No. 95, dated December 30, 2003 of Notary Agus Madjid, SH, in regarding to the changes of aim and purpose of JLJ business activity. This Deed has been approved by the Minister of Law and Human Rights of the Republic of Indonesia No.C-05376 HT.01.04.TH.2004, dated March 4, 2004. JLJ is domiciled in Jakarta.
Perusahaan memiliki 123.750 Saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 123.750.000 (Rupiah penuh) yang merupakan 99% kepemilikan pada tanggal 31 Desember 2012.
The Company owns 123,750 shares in JLJ with par value of Rp 1,000 (Full Rupiah) per share amounting to Rp 123,750,000 (Full Rupiah), representing 99% ownership as of December 31, 2012.
1.b.2. PT Marqa Sarana Jabar (MSJ)
1.b.2. PT Marga Sarana Jabar (MSJ)
PT Marga Sarana Jabar merupakan perusahaan patungan antara Perusahaan dan PT Jasa Sarana dalam pengusahaan ruas jalan tol Bogor Ring Road. MSJ didirikan berdasarkan Akta No. 10 tanggal 11 Mei 2007 dari Notaris Iwan Ridwan, SH, dengan modal dasar sebesar Rp 475.000.000.000 (Rupiah penuh), modal ditempatkan dan disetor sebesar Rp 118.750.000.000 (Rupiah penuh) dan telah memperoleh pengesahan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia melalui Keputusan No. W8-01909 HT.01.01.TH.2007, tanggal 6 Juli 2007 serta diumumkan dalam Lembaran Berita Negara Republik Indonesia No. 82, tanggal 12 Oktober 2007. MSJ berdomisili di Bogor.
PT Marga Sarana Jabar is a joint venture company between the Company and PT Jasa Sarana for development of Bogor Ring Road toll road. MSJ was established based on the Deed No. 10, dated May 11, 2007 of Notary lwan Ridwan, SH, with authorized capital amounting to Rp 475,000,000,000 (full Rupiah), issued and paid in capital amounting to Rp 118,750,000,000 (full Rupiah) and has been approved by the Minister of Law and Human Rights of the Republic of Indonesia through Decree No. W801909 HT.01.01.TH.2007, dated July 6, 2007 and announced in State Gazette No. 82, dated October 12, 2007. MSJ domiciled in Bogor.
Perusahaan memiliki 10.682.650 saham dengan nilai nominal Rp 10.000 (Rupiah penuh) per saham atau setara dengan Rp 106.826.500.000 (Rupiah penuh) yang merupakan 55% kepemilikan pada tanggal 31 Desember 2012.
The Company owns 10,682,650 shares in MSJ with par value of Rp 10,000 (full Rupiah) per share amounting to Rp 106,826,500,000 (full Rupiah), representing 55% ownership as of December 31, 2012.
1.b.3. PT Trans Marqa Jatenq (TMJ)
1.b.3. PT Trans Marqa Jatenq (TMJ)
PT Trans Marga Jateng merupakan perusahaan patungan antara Perusahaan dan PT Sarana Pembangunan Jawa Tengah dalam pengusahaan pembangunan ruas jalan tol Semarang - Solo. TMJ didirikan berdasarkan Akta No. 27 tanggal 7 Juli 2007
PT Trans Marga Jateng is a joint venture company between the Company and PT Sarana Pembangunan Jawa Tengah for development of Semarang - Solo toll road. TMJ was established based on the Deed No. 27, dated July 7, 2007 of Notary Prof. DR. Liliana
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dari Notaris Prof. DR. Liliana Tedjosaputro, SH, MH, yang kemudian diubah dengan Akta No. 84 dari Notaris yang sama dan telah memperoleh pengesahan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia melalui Keputusan No. C-03976 HT.01.01TH.2007, tanggal 22 Nopember 2007. TMJ berdomisili di Semarang.
Tedjosaputro, SH, MH, and amended with the Deed No. 84 from the same Notary which has been approved by the Minister of Law and Human Rights of the Republic of Indonesia No. C-03976 HT.01.01-TH.2007, dated November 22, 2007. TMJ Domiciled in Semarang.
Perusahaan memiliki 49.500.000 saham dengan nilai nominal Rp 10.000 (Rupiah penuh) per saham atau setara dengan Rp 495.000.000.000 (Rupiah penuh) yang merupakan 60% kepemilikan dan tambahan setoran modal sebesar Rp 90.000.000.000 (Rupiah penuh) pada tanggal 31 Desember 2012.
The Company owns 49,500,000 shares in TMJ with par value of Rp 10,000 (full Rupiah) per share amounting to Rp 495,000,000,000 (full Rupiah), representing 60% ownership and additional paid in capital amounting to Rp 90,000,000,000 (full Rupiah) as of December 31, 2012.
1.b.4. PT Marga Trans Nusantara (MTN)
1.b.4. PT Marga Trans Nusantara (MTN)
PT Marga Trans Nusantara didirikan berdasarkan Akta No. 8, tanggal 14 Mei 2008 dari Notaris Suzy Anggraini Muharam, SH. Penyertaan pada MTN dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Kunciran-Serpong. Berdasarkan Akta perjanjian antara calon pendiri PT Marga Trans Nusantara No. 1 tanggal 11 Pebruari 2008 yang dikeluarkan Notaris Suzy Anggraini Muharam, SH. MTN berdomisili di Tangerang.
PT Marga Trans Nusantara was established based on the Deed No. 8, dated May 14, 2008 of Notary Suzy Anggraini Muharam, SH. The investment in MTN relates to the construction of the Kunciran - Serpong toll road project. Based on the Deed of Agreement between founder of PT Marga Trans Nusantara No. 1 dated February 11, 2008 of Notary Suzy Anggraini Muharam, SH. MTN domiciled in Tangerang.
Perusahaan memiliki 52.800.000 saham dengan nilai nominal Rp 10.000 (Rupiah penuh) per saham atau setara dengan Rp 52.800.000.000 (Rupiah penuh) yang merupakan 60% kepemilikan pada tanggal 31 Desember 2012.
The Company owns 52,800,000 shares in TMJ with par value of Rp 10,000 (full Rupiah) per share amounting to Rp 52,800,000,000 (full Rupiah), representing 60% ownership as of December 31, 2012.
1.b.5. PT Marga Nujyasumo Aqunq (MNA)
1.b.5. PT Marga Nujyasumo Aqunq (MNA)
PT Marga Nujyasumo Agung didirikan berdasarkan Akta No.121, tanggal 19 Agustus 1994 dari Notaris Sutjipto, SH, juncto Akta No.177, tanggal 26 Pebruari 1998 dari Notaris Rachmat Santoso, SH. Penyertaan pada MNA dilakukan sehubungan dengan pelaksanaan proyek jalan tol Surabaya - Mojokerto. MNA berdomisili di Surabaya.
PT Marga Nujyasumo Agung was established based on the Deed No.121, dated August 19, 1994 of Notary Sutjipto, SH, in conjunction with the Deed No. 177, dated February 26, 1998 of Notary Rachmat Santoso, SH. The investment in MNA was made in relation to the construction and operation of the Surabaya - Mojokerto toll road project. MNA domiciled in Surabaya.
Berdasarkan Akta Perubahan Anggaran Dasar No. 23, Perusahaan memiliki 401.500.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 401.500.000.000 (Rupiah penuh) yang merupakan 55% kepemilikan pada tanggal 31 Desember 2012.
Based on the Deed of Amendment to Article of Association No. 23, the Company owns Rp 401,500,000,000 (full Rupiah) shares at per value Rp 1,000 (full Rupiah) per share representing 55% ownership as of December 31, 2012.
1.b.6. PT Marga Linqkar Jakarta (MLJ)
1.b.6. PT Marga Linqkar Jakarta (MLJ)
PT Marga Lingkar Jakarta didirikan berdasarkan Akta No. 26 tanggal 24 Agustus 2009 dari Notaris Edi Priyono, SH dan telah disahkan oleh Menteri Kehakiman Republik Indonesia No.C-98-HT.03.02-Th 2002. Penyertaan pada MLJ dilakukan sehubungan dengan pelaksanaan proyek Jalan Tol Lingkarluar
PT Marga Lingkar Jakarta was established based on the Deed No. 26, dated August 24, 2009 of Notary Edi Priyono, SH which has been approved by Minister of Justice of the Republic of Indonesia No.C-98-HT.03.02Th 2002. The investment in MLJ relates to the construction and operation of the Jakarta Toll Outer
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Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Jakarta Seksi W2 Utara. MLJ berdomisili di Jakarta.
Ring Road Section W2 North. MLJ domiciled in Jakarta.
Perusahaan memiliki 242.857.550 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 242.857.550.000 (Rupiah penuh) yang merupakan 65% kepemilikan pada tanggal 31 Desember 2012.
The Company owns 242,857,550 shares at par value of Rp 1,000 (full Rupiah) per share amounting to Rp 242,857,550,000 (full Rupiah), representing 65% ownership as of December 31, 2012.
1.b.7. PT Transmarga Jatim Pasuruan (TMJP)
1.b.7. PT Transmarqa Jatim Pasuruan (TMJP)
PT Transmarga Jatim Pasuruan didirikan berdasarkan Akta No. 57 tanggal 28 Juni 2010 dari Notaris Retno Suharti, SH dan telah mendapat pengesahan dari Departemen Hukum dan Hak Asasi Manusla Republik Indonesia No. AHU.AH.01.10.15244-Th.2008, tanggal 20 Juni 2008. Penyertaan pada TMJP dilakukan sehubungan dengan pelaksanaan proyek Jalan Tol Gempol-Pasuruan. TMJP berdomisili di Sidoarjo.
PT Transmarga Jatim Pasuruan established baed on Deed No.57 dated June 28, 2010 of Notary Retno Suharti, SH which has been approved by the Minster of Law and Human Rights of the Republic of Indonesia No. AHU.AH.01.10.15244-Th.2008, dated June 20, 2008. The investment in TMJP relates to the construction and operation of the Gempol-Pasuruan toll. TMJP domiciled in Sidoarjo.
Perusahaan memiliki 11.000.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 110.000.000.000 (Rupiah penuh) yang merupakan 93,62% kepemilikan pada tanggal 31 Desember 2012.
The Company owns 11,000,000 shares at par value of Rp 1,000 (full Rupiah) per share amounting to Rp 110,000,000,000 (full Rupiah), representing 93.62% ownership as of December 31, 2012.
1.b.8. PT Marga Kunciran Cengkareng (MKC)
1.b.8. PT Marqa Kunciran Cengkarenq (MKC)
PT Marga Kunciran Cengkareng didirikan berdasarkan Akta No. 7 tanggal 14 Mei 2008 dari Notaris Suzy Anggraini Muharam, SH, yang telah memperoleh pengesahan dari Menteri Hukum dan Hak Asasi manusia Republik Indonesia melalui surat keputusan No. AHU-04634.AH.01.01-Th. 2009 tanggal 12 Pebruari 2009. Penyertaan pada MKC dilakukan sehubungan dengan pelaksanaan proyek jalan tol Kunciran Cengkareng. MKC berdomisili di Tangerang.
PT Marga Kunciran Cengkareng was established based on the Deed No. 7 dated May 14, 2008 by Notary Suzy Anggraini Muharam, SH., which has been approved by Minister of Law and Human Rights of the Republic of Indonesia No. AHU-04634.AH.01.01-Th. 2009 dated February 12, 2009. The investment in MTN was made in relation of the Kunciran Cengkareng toll road. MKC domiciled in Tangerang.
Perusahaan memiliki 10.016.145 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 91.146.919.500 (Rupiah penuh) yang merupakan 76,07% kepemilikan dan tambahan setoran modal sebesar Rp 8.351.270.200 (Rupiah penuh) pada tanggal 31 Desember 2012.
The Company owns 10,016,145 shares at par value of Rp 1,000 (full Rupiah) per share amounting to Rp 91,146,919,500 (full Rupiah), representing 76.07% ownership and additional paid in capital amounting to Rp 8,351,270,200 (full Rupiah) as of December 31, 2012.
1.b.9. PT Sarana Marqa Utama (SMU)
1.b.9. PT Sarana Marga Utama (SMU)
PT Sarana Marga Utama, perusahaan semula bernama PT Rezekibhakti Saranasejahtera, yang didirikan berdasarkan Akta No. 41 tanggal 26 Agustus 1988 dari Abdul Latif, SH, dan telah mendapatkan pengesahan dari Departemen Kehakiman Republik Indonesia dengan Keputusan No. C2.137.HT.01.01-Th. 1989 tanggal 10 Pebruari 1989. Penyertaan pada SMU dilakukan sehubungan dengan bidang usaha jasa konstruksi, perdagangan, dan persewaan kendaraan. SMU berdomisili di Jakarta.
PT Sarana Marga Utama, was originally known as PT Rezekibhakti Saranasejahtera established based on Deed No. 41 dated August 26, 1988 by notary Abdul Latif SH which has been approved by the Ministry of Justice of the Republic of Indonesia No. C2.137.HT.01.01-Th. 1989, dated February 10, 1989. The investment in SMU was made in relation to the construction, trade, and rental vehicles. SMU domiciled in Jakarta.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
Perusahaan memiliki 24.750 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 24.750.000.000 (Rupiah penuh) yang merupakan 99% kepemilikan dan tambahan modal distor sebesar Rp 10.642.000.000 (Rupiah penuh) pada tanggal 31 Desember 2012.
The Company owns 24,750 shares at par value of Rp 1,000 (full Rupiah) per share amounting to Rp 24,750,000,000 (full Rupiah), representing 99% ownership and additional paid in capital amounting to Rp 10,642,000,000 (full Rupiah) as of December 31, 2012.
1.b.10. PT Margabumi Adhikarava (MAR)
1.b.10. PT Margabumi Adhikaraya (MAR)
PT Margabumi Adhikaraya (MAR) didirikan berdasarkan Akta No.142, tanggal 25 September 1996 dari Notaris Ny. Poerbaningsih Adi Warsito, SH. Penyertaan pada MAR dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Gempol-Pandaan. MAR berdomisili di Surabaya.
PT Margabumi Adhikaraya (MAR) was established based on the Deed No.142, dated September 25, 1996 of Notary Poerbaningsih Adi Warsito, SH. The investment in MAR relates to the operation of the Gempol - Pandaan toll road project. MAR domiciled in Surabaya.
Perusahaan memiliki 145.850.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 145.850.000.000 (Rupiah penuh), yang merupakan 66,48% kepemilikan Perusahaan pada tanggal 31 Desember 2012.
The Company owns 145,850,000 shares at par value of Rp 1.000 (full Rupiah) per share or equivalent to Rp 145,850,000,000 (full Rupiah) representing 66.48% ownership as of December 31, 2012.
1.b.11. PT Jasamarga Bali Tol (PT JBT)
1.b.11. PT Jasamarga Bali Tol (PT JBT)
PT Jasamarga Bali Tol didirikan berdasarkan Akta No. 2 tanggal 22 Agustus 2011 dari Notaris Paulina S.S. Endah Putri, SH, dan telah mendapatkan pengesahan dari Menteri Hukum dan Hak Asasi Manusia melalui surat keputusan No.C-372.HT.03.01-Th.2006, tanggal 4 September 2006. Penyertaan pada JBT dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Nusa Dua – Benoa. JBT berdomisili di Bali.
PT Jasamarga Bali Tol was established based on the Deed No. 2, dated August 22, 2011 by Notary Paulina S.S. Endah Putri, SH, which has been approved by Minister of Law and Human Rights of the Republic of Indonesia No.C372.HT.03.01-Th.2006, dated September 4, 2006. The investment in JBT relates to the operation of the Nusa Dua – Benoa. JBT domiciled in Bali.
Perusahaan memiliki 111.815 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 111.815.000.000 (Rupiah penuh), yang merupakan 60% kepemilikan Perusahaan dan tambahan modal disetor sebesar Rp 300.729.744.970 pada tanggal 31 Desember 2012.
The Company owns 111,815 shares at par value of Rp 1.000 (full Rupiah) per share or equivalent to Rp 111,815,000,000 (full Rupiah) representing 60% ownership and additional paid in capital amounting to Rp 300,729,744,970 (full Rupiah) as of December 31, 2012.
Jumlah aset dan pendapatan entitas anak sebelum jurnal eliminasi adalah sebagai berikut:
Total assets and revenues of the Subsidiaries before elimination journal are as follows:
Perusahaan/Company PT Jalantol Lingkarluar Jakarta (JLJ) PT Marga Sarana Jabar (MSJ) PT Trans Marga Jateng (TMJ) PT Marga Trans Nusantara (MTN) PT Marga Nujyasumo Agung (MNA) PT Marga Lingkar Jakarta (MLJ) PT Trans Marga Jatim Pasuruan (TMJP) PT Marga Kunciran Cengkareng (MKC) PT Sarana Marga Utama (SMBU) PT Margabumi Adhikaraya (MAR) PT Jasamarga Bali Tol (JBT)
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Annual Report 2012
Constructing towards the Future
2012
Aset/Assets
67,676,199 548,357,000 2,682,556,359 132,097,736 1,564,137,335 1,237,391,546 208,613,652 126,828,694 78,227,545 405,636,162 1,659,510,652
11
2011
60,962,757 489,828,006 2,221,209,166 81,367,819 1,246,392,087 772,935,695 173,074,331 103,205,356 36,290,242 248,911,638 183,525,770
Pendapatan Usaha/Revenues 2012 2011 170,471,250 133,197,912 846,523,781
136,809,943 54,020,747 500,626,520
316,771,494 539,499,885
379,767,658 577,384,484
35,017,116 98,153,049 1,250,870,221
31,553,351 4,527,826
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--
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
1.c. Dewan Direksi, Komisaris, Komite Audit, dan Karyawan
1.c. Board of Directors, Commissioners, Committee, and Employees
Susunan Direksi dan Komisaris Perusahaan pada tanggal 31 Desember 2012 sebagai berikut:
Direktur Utama Direktur Operasi Direktur Keuangan Direktur Pengembangan Usaha Direktur Sumber Daya Manusia dan Umum
Komisaris Utama Komisaris Komisaris Komisaris (Komisaris Independen) Komisaris (Komisaris Independen)
The composition of the Company’s Board of Directors and Commissioners as of December 31, 2012 is as follows:
Direksi/Directors Ir. Adityawarman Ir. Hasanudin, M.Eng.Sc Ir. Reynaldi Hermansjah Ir. Abdul Hadi H.S, MM.
Komisaris Utama Komisaris Komisaris Komisaris (Komisaris Independen) Komisaris (Komisaris Independen)
Komisaris/ Commissioners Ir. Agoes Widjanarko, MIP. Ibnu Purna Muchtar, S.E, MA. DR. Joyo Winoto Mayjen. (Purn) Samsoedin Irjen Polisi (Purn) Drs. Michael Dendron Primanto, SH, MH.
Anggota Anggota
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President Commissioner Commissioner Commissioner Commissioner (Independent Commissioner) Commissioner (Independent Commissioner)
The composition of the Company’s Board of Directors and Commissioners as of December 31, 2011 is as follows:
Direksi/Directors Ir. Frans S Sunito Ir. Adityawarman Ir. Reynaldi Hermansjah Ir. Abdul Hadi H.S, MM.
President Director Operation Director Finance Director Business Development Director Human Capital Affairs Development Director
Ir. Firmansjah Komisaris/ Comissioners Ir. Agoes Widjanarko, MIP. Ibnu Purna Muchtar, S.E, MA. DR. Joyo Winoto Mayjen. (Purn) Samsoedin Irjen Polisi (Purn) Drs. Michael Dendron Primanto, SH, MH.
Berdasarkan Keputusan Komisaris No.KEP-009/I/2011, tanggal 24 Januari 2011, susunan Komite Audit Perusahaan pada 31 Desember 2012 dan 2011 adalah sebagai berikut Ketua Merangkap Anggota
President Director Operation Director Finance Director Business Development Director Human Capital Affairs Development Director
Ir. Muh. Najib Fauzan, Msc.
Susunan Direksi dan Komisaris Perusahaan pada 31 Desember 2011 sebagai berikut:
Direktur Utama Direktur Operasi Direktur Keuangan Direktur Pengembangan Usaha Direktur Sumber Daya Manusia dan Umum
Audit
President Commissioner Commissioner Commissioner Commissioner (Independent Commissioner) Commissioner (Independent Commissioner)
Based on the Decision of the Commissioners No.KEP009/I/2011, date January 24, 2011, the composition of the Company's Audit Committee as of December 31, 2012 and 2011 are as follows:
Irjen Polisi (Purn) Drs. Michael Dendron Primanto, SH, MH.
Chairman and Member
Ir. Agita Widjajanto, MSc. Drs. Rustam Wahyudi, Ak.
Member Member
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Berdasarkan Surat Keputusan Direksi No. 102/AA.P6a/2012, tanggal 31 Agustus 2012, Sekretaris Perusahaan pada 31 Desember 2012 adalah Ir. David Wijayatno. Berdasarkan Surat Keputusan Direksi No. 31/AA.P-6a/2006, tanggal 29 September 2006, Sekretaris Perusahaan pada 31 Desember 2011 adalah Ir. Okke Merlina.
Based on in Decision of the Director No. 102/AA.P6a/2012 dated August 31 2012, the corporate secretary as of December 31, 2012 is Ir. David Wijayatno. Based on in Decision of the Director No. 31/AA.P-6a/2006 dated September 29, 2006, the corporate secretary as of December 31, 2011 is Ir. Okke Merlina.
Jumlah karyawan tetap Perusahaan pada 31 Desember 2012 dan 2011 masing-masing sebanyak 5.075 orang dan 5.154 orang (Unaudited)
As of December 31, 2012 and 2011 the Company had total permanent employees of 5,075 person and 5,154 person respectively (unaudited).
1.d. Penawaran Umum Obligasi Perusahaan Perusahaan telah menerbitkan obligasi dengan total nilai sebesar Rp 7.423.978.000.000 (Rupiah penuh). Jumlah utang obligasi yang belum dilunasi/ belum jatuh tempo adalah sebesar Rp 5.530.771.304.288 (Rupiah penuh) dan sisanya telah dilunasi, dengan rincian sebagai berikut:
1.d. Public Bond Offering The Company has issued bonds with total amount of Rp 7,423,978,000,000 (full Rupiah). The total amount of bonds that have not been paid/not yet reached their maturity date amounting to Rp 5,530,771,304,288 (full Rupiah) and the balance has been paid, with details of bonds are as follows:
No.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22
Obligasi/Bonds
Total (Rp Juta) Par value (Rp Million)
Tenor (Tahun/ Years)
Jasa Marga I(A)
Tanggal Penerbitan/ Issuance Date
5 3/11/1983 23,718 Jasa Marga II/1 (B) 40,000 5 31/10/1983 Jasa Marga II/2 (C) 20,000 5 6/2/1984 Jasa Marga II/2 (D) 20,000 5 5/3/1984 Jasa Marga II/2 (E) 20,000 5 31/3/1984 Jasa Marga III/1 (F/1) 40,000 5 28/12/1984 Jasa Marga III/2 (F/2) 30,000 5 1/3/1985 Jasa Marga IV/1 (G/1) 40,000 5 27/12/1985 Jasa Marga IV/2 (G/2) 60,000 5 24/3/1986 Jasa Marga V/1 (H) 60,000 5 6/7/1987 Jasa Marga V/2 (I) 40,000 5 19/11/1987 Jasa Marga VI/1 (J) 75,000 8 20/6/1988 Jasa Marga VI/2 (K) 50,000 8 1/2/1989 Obligasi Indeks Pendapatan Tahap I 40,000 12 31/7/1989 Obligasi Indeks Pendapatan Tahap II 30,000 12 21/9/1989 Jasa Marga VII (L) 100,000 8 8/6/1990 Jasa Marga VIII (M) 150,000 8 27/3/2000 Jasa Marga IX (N) 400,000 5 12/4/2002 Jasa Marga X (O) 650,000 8 4/12/2002 Jasa Marga XI (P) 1,000,000 10 10/10/2003 Obligasi JORR I 274,260 10 19/11/2003 Obligasi JORR 11(A) 78,300 10 5/1/2006 Obligasi JORR 11(B) 78,300 12 5/1/2006 Obligasi JORR 11 (C) 104,400 15 5/1/2006 23 Jasa Marga XII (0) 1,000,000 10 6/7/2006 24 Jasa Marga XIII (R) 1,500,000 10 21/6/2007 25 Jasa Marga XIV (JM — 10) 1,000,000 10 12/10/2010 26 Jasa Marga I (JM — 10) 500,000 3 12/10/2010 *) Dilunasi pada tanggal 24 Nopember 2008 sebesar/Paid on November 24, 2008, amounted to Rp 2.643 **) Dilunasi pada tanggal 24 Nopember 2008 sebesar/Paid on November 24, 2008, amounted to Rp 922 **) Dilunasi pada tanggal 24 Nopember 2008 sebesar/Paid on November 24, 2008, amounted to Rp 922
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Tanggal Jatuh Tempo/ Maturity Date 3/11/1988 31/10/1988 6/2/1989 5/3/1989 31/3/1989 28/12/1989 1/3/1990 27/12/1990 24/3/1991 6/7/1992 19/11/1992 20/6/1996 1/2/1997 31/7/2001 21/9/2001 8/6/1998 27/3/2008 12/4/2007 4/12/2010 10/10/2013 19/11/2013 5/1/2016 5/1/2018 5/1/2021 6/7/2016 21/6/2017 12/10/2020 12/10/2013
Status
Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Lunas/Paid Belum Lunas/Not Yet Paid Belum Lunas/Not Yet Paid *) Belum Lunas/Not Yet Paid **) Belum Lunas/Not Yet Paid ***) Belum Lunas/Not Yet Paid Belum Lunas/Not Yet Paid Belum Lunas/Not Yet Paid Belum Lunas/Not Yet Paid Belum Lunas/Not Yet Paid
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
1.e. Penawaran Umum Perdana Saham Perusahaan Pada tanggal 1 Nopember 2007, Perusahaan memperoleh pernyataan efektif dari Badan Pengawas Pasar Modal-Lembaga Keuangan (Bapepam-LK) melalui Surat No. S-5526/BL/2007 untuk melakukan penawaran umum perdana saham sebanyak 2.040.000.000 saham atas narna Seri B dengan nilai nominal Rp 500 (Rupiah penuh) setiap saham yang berasal dari saham dalam simpanan (portepel) Perusahaan kepada masyarakat dengan harga penawaran sebesar Rp 1.700 (Rupiah penuh) per saham melalui pasar modal dan dicatatkan pada Bursa Efek Indonesia. 2.
1.e. The Company Initial Public Offering On November 1, 2007 the Company received the effective statement from the Capital Market and Financial Institutions Supervisory Board (Bapepam-LK) through the Letter No.S-5526/BL/2007 to perform the initial public offering amounting to 2,040,000,000 Series B shares with par value of Rp 500 (full Rupiah) each share from the Company porteple shares to the public at the offering price amounting to Rp 1,700 (full Rupiah) each share through capital market and listed in Indonesia Stock Excange.
Penerapan Pernyataan dan Interpretasi Standar Akuntansi Keuangan (PSAK dan ISAK)
2. Adoption of Statements and Interpretation of Financial Accounting Standards (PSAK and ISAK)
Standar Akuntansi yang Berlaku Efektif pada Tahun Berjalan Perusahaan telah menerapkan PSAK dan ISAK baru dan revisi yang berlaku efektif mulai 1 Januari 2012. Perubahan kebijakan akuntansi telah dibuat seperti yang disyaratkan, sesuai dengan ketentuan transisi dalam masing-masing standar dan interpretasi.
Accounting Standards Effective in the Current Year The Company has applied new PSAK and ISAK and revised effective from January 1, 2012. Changes in accounting policies have been made as required, in accordance with the transitional provisions in the respective standards and interpretations.
Berikut adalah standar baru, perubahan standar dan interpretasi standar yang wajib diterapkan untuk pertama kalinya untuk tahun buku yang dimulai 1 Januari 2012 dan relevan terhadap Perusahaan:
The following new standards, revision to the standards and interpretation of the standards that have to be applied mandatory for the first time for the financial year beginning on January 1, 2012 and are relevant to the Company:
ISAK 16 :” Perjanjian Konsesi Jasa” dan ISAK 22 “Perjanjian Konsesi Jasa: Pengungkapan”
ISAK 16 : “Service Concession Arrangements” and ISAK 22 “Service Concession Arrangements : Disclosure” Both intrepetations brings significant impacts, as follows:
Kedua interpretasi ini membawa dampak-dampak signifikan, seperti berikut: 1.
Dalam perjanjian Hak Pengusahaan Jalan Tol antara Grup dengan Pemerintah, Grup memberikan dua jasa terpisah yakni jasa pembangunan jalan tol dan jasa pengoperasian dan pemeliharaan jalan tol.
1. In such toll road concession arrangements between Group and Government, the Group provide two separate services which are construction of toll roads and operation and maintenance of toll roads.
2.
Untuk jasa pembangunan jalan tol, Grup mencatat pendapatan dan biaya konstruksi sesuai dengan PSAK 34 (Revisi 2010) “Kontrak Konstruksi”, sedangkan untuk jasa pengoperasian dan pemeliharaan, Grup akan mencatat pada saat jasa dilakukan sesuai dengan PSAK 23 (Revisi 2010) Pemerintah memberikan “Pendapatan”. kompensasi atas kedua jasa tersebut dalam bentuk hak bagi Grup untuk mengoperasikan jalan tol dan menerima imbalan dari masyarakat yang menggunakan jalan tol. Grup akan mencatat hak tersebut sebagai aset takberwujud sebesar nilai
2. For toll roads construction services, the Group recorded revenue and cost of construction in accordance with PSAK 34 (Revised 2010) “Construction Contracts”, while for the operation and maintainance services, the Group recorded at the time when services is rendered in accordance with PSAK 23 (Revised 2010) “Revenue”. The Government provides compensation for both services in the form of rights for group to operates toll roads and receives benefit from public who use toll roads. The Group will record these rights as intangible assets at cost value of toll roads
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
jasa pembangunan jalan tol. Sebelum penerapan interpretasi ini, Grup mencatat pengeluaran untuk jalan tol sebagai aset tetap.
construction services. Before implementing these intrepretation, the Group recorded toll roads expenditures as fixed assets.
3.
Dalam mengoperasikan jalan tol, Grup mempunyai kewajiban untuk menjaga standar kualitas jalan tol terutama dengan melapisi ulang jalan tol secara berkala. Biaya kewajiban pelapisan ulang jalan tol secara berkala diestimasi berdasarkan tingkat penggunaan jalan tol untuk memenuhi standar kualitas.
3. In operating toll roads, the Group have obligation maintain the toll roads quality standards by overlying the toll roads periodically. The cost of overlay periodically will be estimated based on the toll road traffic in order to meet with quality standards.
4.
Seluruh aspek perjanjian konsesi jasa dipertimbangkan dalam menetapkan pengungkapan yang tepat dalam catatan atas laporan keuangan, diantaranya termasuk deskripsi, persyaratan dan sifat perjanjian (hak dan kewajiban operator).
4. All aspects of service concession arrangements are considered in determining the appropriate disclosures in the notes to the financial statements including descriptions, requirements and nature of the agreements (the rights and obligations of the operator).
Perubahan kebjiakan akuntansi Grup telah disusun seperti yang disyaratkan, sesuai dengan ketentuan transisi yang ada. Sesuai dengan ketentuan transisi, Grup menerapkan ISAK 16 ini secara retrospektif kecuali untuk perjanjian jasa tertentu dimana tidaklah praktis bagi Grup untuk melakukan penerapan secara retrospektif, maka pada awal periode sajian paling awal:
The changes of the Group’s accounting policies have been made as required, in accordance with the transitional provisions. The Group implemented ISAK 16 retrospectively except for specific services agreements which is not practical for the Group to apply retrospectively implementation at the beginning of the earliest period presented, then:
Grup telah mengakui aset takberwujud yang ada pada awal periode sajian paling awal; Grup telah menggunakan jumlah tercatat sebelumnya atas aset takberwujud tersebut (tidak memperhatikan klasifikasi aset tersebut sebelumnya) sebagai jumlah tercatat pada periode sajian paling awal; dan Grup telah melakukan uji penurunan nilai atas nilai aset tak berwujud pada awal periode sajian paling awal.
The Group have recognized intangible assets at the beginning of the earliest period presented; The Group have used the previous carrying amount of intangible assets (regardles the previous assets classification) as carrying amount at the beginning of the earliest period presented; and The Group have conducted impairment test of the value of the intangible assets at the beginning of the earliest period presented.
Berikut ini adalah beberapa standar baru lainnya, perubahan dan interpretasi atas standar yang berlaku efektif tanggal 1 Januari 2012 dan relevan namun tidak memiliki dampak yang signifikan terhadap Grup:
Following are other new standards, revision to the standards and interpretations of the standards that will be effective on January 1, 2012 and are relevant but did not have significant impact to the Group:
PSAK 10 (Revisi 2010): Pengaruh Perubahan Kurs Valuta Asing PSAK 16 (Revisi 2011): Aset Tetap PSAK 24 (Revisi 2010): Imbalan Kerja PSAK 26 (Revisi 2011): Biaya Pinjaman PSAK 30 (Revisi 2011): Sewa PSAK 34 (Revisi 2010): Kontrak Konstruksi PSAK 46 (Revisi 2010): Akuntansi Pajak Penghasilan PSAK 50 (Revisi 2010): Instrumen Keuangan: Penyajian PSAK 53 (Revisi 2010): Pembayaran Berbasis Saham PSAK 55 (Revisi 2011): Instrumen Keuangan: Pengakuan dan Pengukuran
PSAK 10 (Revised 2010): The Effect of Change in Foreign Exchange Rates PSAK 16 (Revised 2011): Fixed Assets PSAK 24 (Revised 2010): Employee Benefits PSAK 26 (Revised 2011): Borrowing Costs PSAK 30 (Revised 2011): Lease PSAK 34 (Revised 2010): Constructions Contract PSAK 46 (Revised 2010): Income Taxes
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Annual Report 2012
Constructing towards the Future
PSAK 50 (Revised 2010): Financial Instruments: Presentation PSAK 53 (Revised 2010): Share - Based Payment PSAK 55 (Revised 2011): Financial Instruments: Recognition and Measurement 15
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
PSAK 56 (Revisi 2011): Laba Per Saham PSAK 57 (Revisi 2011): Provisi, Liabilitas Kontinjensi dan Aset Kontinjensi PSAK 60: Instrumen Keuangan: Pengungkapan ISAK 15: Batas Aset Imbalan Pasti, Persyaratan Pendanaan Minimum dan Interaksinya
PSAK 56 (Revised 2011): Earnings Per Share PSAK 57 (Revised 2011): Provision, Contingent Liabilities and Assets PSAK 60 : Financial Instrument: Disclosure ISAK 15 : The Limit on a Defined Benefit Asset, Minimum Funding Requirement and Their Interaction. ISAK 20: Income Tax-Changes in the Tax Status of an Enterprise or its Shareholder ISAK 25: Land Rights
ISAK 20: Pajak Penghasilan-Perubahan Status Pajak Entitas atau Pemegang Sahamnya ISAK 25: Hak Atas Tanah 3. Ikhtisar Kebijakan Akuntansi
3. Summary of Significant Accounting Policies
3.a. Pernyataan Kepatuhan Laporan keuangan konsolidasian ini disajikan sesuai dengan Pernyataan Standar Akuntansi Keuangan (“PSAK”) di Indonesia yang ditetapkan oleh Ikatan Akuntan Indonesia dan sesuai dengan Keputusan Ketua Badan Pengawas Pasar Modal-Lembaga Keuangan (Bapepam-LK) No. VIII.G.7 Lampiran Surat Keputusan No. KEP-347/BL/2012 tanggal 25 Juni 2012 tentang Pedoman Penyajian dan Pengungkapan Laporan Keuangan Emiten atau Perusahaan Publik.
3.a. Statement of Compliance The consolidated financial statements have been prepared in conformity with Indonesian Statements of Financial Accounting Standards (PSAK) established by the Indonesian Institute of Accountants, and Regulation of Capital Market Supervisory Board-Financial Institution No. VIII.G.7 attachment No.KEP-347/BL/2012 dated June 25, 2012 regarding the Guidelines of Financial Statements Presentations and Disclosures for Issuers or Public Companies.
3.b. Dasar Pengukuran dan Penyusunan Laporan Keuangan Konsolidasian Dasar pengukuran dalam penyusunan laporan keuangan konsolidasian ini adalah konsep biaya perolehan (historical cost), kecuali beberapa akun tertentu disusun berdasarkan pengukuran lain sebagaimana diuraikan dalam kebijakan akuntansi masing-masing akun tersebut. Laporan keuangan konsolidasian disusun dengan metode akrual kecuali laporan arus kas.
3.b. Basis of Measurement and Preparation of the Consolidated Financial The basis used in preparing the consolidated financial statements is historical cost, except for certain accounts which are measured based on another basis described in the related accounting policies for those accounts. The consolidated financial statements are prepared under the accrual basis of accounting except for the statement of cash flows.
Laporan arus kas konsolidasian disajikan dengan metode langsung (direct method) dengan mengelompokkan arus kas dalam aktivitas menjadi kegiatan operasi, investasi dan pendanaan.
The consolidated statement cash flows are prepared using the direct method with classifications of cash flows into the operating, investing and financing activities.
Mata uang fungsional dan penyajian yang digunakan dalam penyusunan laporan keuangan konsolidasian ini adalah Rupiah (Rp).
The reporting and functional currency used in the preparation of the consolidated financial statements is the Indonesian Rupiah (Rp).
3.c. Prinsip-prinsip Konsolidasian Laporan keuangan konsolidasian mencakup laporan keuangan Entitas Induk dan Entitas Anak yang dikendalikan secara langsung ataupun tidak langsung oleh Entitas Induk. Entitas dikonsolidasikan sejak tanggal di mana pengendalian efektif beralih kepada Entitas Induk dan tidak lagi dikonsolidasikan sejak tanggal Entitas Induk tidak memiliki pengendalian efektif.
3.c. Principles of Consolidation The consolidated financial statements incorporate financial statements of the Parent Entity and Subsidiaries, direct and indirectly owned by the Parent Entity. Subsidiaries are fully consolidated from the date of effective control are achieved by the Parent Entity and will be no longer consolidated from the date of the Parent Entity has cease effective controls.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Pengendalian dianggap ada apabila Entitas Induk memiliki baik secara langsung atau tidak langsung melalui Entitas Anak, lebih dari setengah kekuasaan suara pada suatu entitas, kecuali kepemilikan tersebut tidak diikuti dengan pengendalian. Suatu pengendalian juga ada apabila Entitas Induk memiliki setengah atau kurang kekuasaan suara jika terdapat:
Control is presumed to exist when the Parent Entity owns, directly or indirectly through subsidiaries, more than half of the voting power of an entity unless, except that, such ownership does not constitute control. Control also exists when the parent owns half or less of the voting power of an entity when there is:
1. Kekuasaan yang melebihi setengah hak suara sesuai perjanjian dengan investor lainnya; 2. Kekuasaan untuk mengatur kebijakan keuangan dan operasional entitas berdasarkan anggaran dasar atau perjanjian; 3. Kekuasaan untuk menunjuk atau memberhentikan sebagian besar dean direksi dan dewan komisaris atau organ pengatur setara dan mengendalikan entitas melalui dewan atau organ tersebut; atau 4. Kekuasaan untuk memberikan suara mayoritas pada rapat dewan direksi dan dewan komisaris atau organ tersebut.
1. Power over more than half of the voting rights by virtue of an agreement with other investors; 2. Power to govern the financial and operating policies of the entity under a statute or an agreement;
Laporan keuangan konsolidasian harus disusun dengan basis yang sama yaitu; kebijakan akuntansi yang sama untuk transaksi, peristiwa dan keadaan yang sama. Kebijakan tersebut telah diterapkan secara konsisten oleh Entitas Anak, kecuali dinyatakan secara khusus.
The consolidated financial statements are prepared using uniform basis, i.e.: similar accounting policy for similar transactions, events and circumstances. The policy has been applied consistently by Subsidiaries, unless otherwise stated.
Dalam menyusun laporan keuangan konsolidasian, laporan keuangan Entitas Induk dan Entitas Anak digabungkan secara baris per baris yakni dengan menjumlahkan satu persatu unsur-unsur sejenis dari aset, liabilitas, ekuitas, pendapatan dan beban. Seluruh saldo akun dan transaksi yang material antara Perusahaan dengan Entitas Anak telah dieliminasi.
In preparing the consolidated financial statements, the financial statements of the Parent Company and Subsidiaries are combined on a line by line basis by adding together similar elements of assets, liabilities, equity, income and expenses. All balances and material transactions between the Parent Company and the Subsidiaries have been eliminated.
Akun "Kepentingan Non-Pengendali" pada laporan posisi keuangan konsolidasian merupakan hak pemegang saham non pengendali pada Entitas Anak tersebut. Kepentingan non pengendali atas laba (rugi) bersih Entitas Anak pada laporan laba rugi komprehensif konsolidasian disajikan sebagai “Laba/Rugi Tahun Berjalan yang Dapat Diatribusikan kepada Kepentingan Non Pengendali”.
The account of “Non Controlling Interests” in consolidated financial statement is represents interest of the minority shareholders in the Subsidiaries. Non controlling interest in net income (loss) of Subsidiaries in the consolidated statement of comprehensive income is presented as “Current Year Profit/Loss Attributable to Non Controlling Interest”.
Rugi Entitas Anak yang tidak dimiliki secara penuh diatribusikan pada kepentingan non pengendali bahkan jika hal ini mengakibatkan kepentingan non pengendali mempunyai saldo defisit.
Losses of non-wholly owned subsidiary are attributed to the non controlling interest even if the non controlling interest results in deficit balance.
3. Power to appoint or remove the majority of the members of the board of directors or equivalent governing body and control of the entity is by that board or body; or 4. Power to cast the majority of votes at meetings of the board of directors or equivalent governing body and control of the entity is by that board or body.
3.d. Instrumen Keuangan Aset Keuangan Aset keuangan dikelompokkan menjadi 4 kategori, yaitu (i) aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi, (ii) pinjaman yang diberikan dan piutang, (iii) investasi yang dimiliki hingga jatuh tempo serta (iv) aset keuangan yang tersedia untuk dijual. Klasifikasi ini tergantung dari tujuan perolehan aset d1/March 24, 2013 290
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3.d. Financial Instruments Financial Assets Financial assets are classified into 4 categories, i.e., (i) financial assets at fair value through profit or loss, (ii) loans and receivables, (iii) held-to-maturity financial assets and (iv) available-for-sale financial assets. The classification depends on the purpose for which the financial assets were acquired. Management 17
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
keuangan tersebut. Manajemen menentukan klasifikasi aset keuangan tersebut pada saat awal pengakuannya
determines the classification of its financial assets at initial recognition.
(i) Aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi Aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi adalah aset keuangan yang ditujukan untuk diperdagangkan. Aset keuangan diklasifikasikan sebagai diperdagangkan jika diperoleh terutama untuk tujuan dijual atau dibeli kembali dalam waktu dekat dan terdapat bukti mengenai pola ambil untung dalam jangka pendek yang terkini. Derivatif diklasifikasikan sebagai asset diperdagangkan kecuali telah ditetapkan dan efektif sebagai instrumen lindung nilai.
(i) Financial assets at fair value through profit and loss Financial assets at fair value through profit or loss are financial assets which are held for trading. Financial asset is classified as held for trading if it is acquired principally for the purpose of selling or repurchasing it in the near term and for which there is evidence of recent actual pattern of short term profit taking. Derivatives are also categorized as held for trading unless they are designated and effective as hedging instruments.
Perusahaan tidak mempunyai aset keuangan yang diklasifikasikan sebagai aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi.
The Group has no financial asset classified as financial assets at fair value through profit and loss.
(ii) Pinjaman yang diberikan dan piutang Pinjaman yang diberikan dan piutang adalah aset keuangan non derivatif dengan pembayaran tetap atau telah ditentukan dan tidak mempunyai kuotasi di pasar aktif. Pada saat pengakuan awal, pinjaman yang diberikan dan piutang diakui pada nilai wajarnya ditambah biaya transaksi dan selanjutnya diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.
(ii) Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loan and receivables are initially recognized at fair value plus transaction cost and subsequently measured at amortized cost using the effective interest rate method.
Perusahaan mempunyai kas dan setara Kas, piutang usaha dan dana ditetapkan penggunaannya yang diklasifikasikan sebagai pinjaman yang diberikan dan piutang.
The Group has cash and cash equivalents, accounts receivables and appropriated funds, are classified as loans and receivables.
(iii) Investasi yang dimiliki hingga jatuh tempo Investasi yang dimiliki hingga jatuh tempo adalah investasi non-derivatif dengan pembayaran tetap atau telah ditentukan dan jatuh temponya telah ditetapkan, dimana manajemen mempunyai intense positif dan kemampuan untuk memiliki aset keuangan tersebut hingga jatuh tempo, selain:
(iii) Held to maturity financial assets Held-to-maturity financial assets are nonderivative financial assets with fixed or determinable payments and fixed maturities that management has the positive intention and ability to hold to maturity, other than:
a) Investasi yang pada saat pengakuan awal ditetapkan sebagai aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi; b) Investasi yang ditetapkan dalam kelompok tersedia untuk dijual; dan c) Investasi yang memenuhi definisi pinjaman yang diberikan dan piutang.
a) Those that are designated as at fair value through profit or loss upon initial recognition; b) Those that are designated as available for sale; and c) Those that meet definition of loans and receivable.
Pada saat pengakuan awal, investasi dimiliki hingga jatuh tempo diakui pada nilai wajarnya ditambah biaya transaksi dan selanjutnya diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.
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These are initially recognized at fair value including transaction costs and subsequently measured at amortized cost, using the effective interest rate method.
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Perusahaan tidak mempunyai aset keuangan yang diklasifikasikan sebagai investasi dimiliki hingga jatuh tempo.
The Group has no financial assets classified as investments held to maturity.
(iv) Aset keuangan tersedia untuk dijual Aset keuangan dalam kelompok tersedia untuk dijual adalah aset keuangan non-derivatif yang ditetapkan untuk dimiliki selama periode tertentu, dimana akan dijual dalam rangka pemenuhan likuiditas atau perubahan suku bunga, valuta asing atau yang tidak diklasifikasikan sebagai pinjaman yang diberikan atau piutang, investasi yang diklasifikasikan dalam kelompok dimiliki hingga jatuh tempo atau aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi.
(iv) Available for sales financial assets Available-for-sale financial assets are non derivative financial assets that are intended to be held for indefinite period of time, which might be sold in response to needs for liquidity or changes in interest rates, exchange rates or that are not classified as loans and receivables, held-tomaturity investments or financial assets at fair value through profit or loss.
Pada saat pengakuan awal, aset keuangan tersedia untuk dijual diakui pada nilai wajarnya ditambah biaya transaksi dan selanjutnya diukur pada nilai wajarnya dimana laba atau rugi diakui pada laporan perubahan ekuitas konsolidasian kecuali untuk kerugian penurunan nilai dan laba rugi dari selisih kurs hingga aset keuangan dihentikan pengakuannya. Jika aset keuangan tersedia untuk dijual mengalami penurunan nilai, akumulasi laba rugi yang sebelumnya diakui pada bagian ekuitas akan diakui pada laporan laba rugi konsolidasian.
Available-for-sale financial assets are initially recognized at fair value, plus transaction costs, and measured subsequently at fair value with gains and losses being recognized in the consolidated statement of changes in equity, except for impairment losses and foreign exchanges gains and losses, until the financial assets is derecognized. If an available-for-sale financial asset is determined to be impaired, the cumulative gain or loss previously recognized in the equity section will be recognized in the consolidated statements of income.
Sedangkan pendapatan bunga yang dihitung menggunakan metode suku bunga efektif dan keuntungan atau kerugian akibat perubahan nilai tukar dari aset moneter yang diklasifikasikan sebagai kelompok tersedia untuk dijual diakui pada laporan laba rugi konsolidasian.
While, interest income is calculated using the effective interest method, and foreign currency gain or losses on monetary assets classified as availablefor-sale is recognized in the consolidated statements of income.
Perusahaan mempunyai aset keuangan yang diklasifikasikan sebagai aset keuangan tersedia untuk dijual yaitu investasi pada saham yang tidak tersedia nilai wajarnya dengan kepemilikan kurang dari 20% dan aset keuangan lainnya yang dicatat pada biaya perolehannya.
The Company has financial assets classified as of available for sale with ownership interest of less than 20% that do not have readily determinable its fair values and intended for long-term investments are stated at cost (the cost method).
Penyisihan kerugian penurunan nilai aset keuangan Perusahaan menentukan secara individual jika terdapat bukti objektif mengenai penurunan nilai atas aset keuangan. Jika terdapat bukti objektif penurunan nilai secara individual, maka perhitungan penurunan nilai dengan menggunakan metode discounted cash flow dan/atau nilai wajar jaminan.
Provision for impairment loss of financial assets The Company assessed individually if there is objective evidence of impairment to the financial assets. If there is objective evidence of individual impairment, the impairment calculation is made using discounted cash flow method and/or the fair value of collateral.
Untuk aset keuangan yang tidak terdapat bukti objektif mengenai penurunan nilai, maka Perusahaan membentuk penyisihan kerugian penurunan nilai secara kolektif. Perhitungan secara kolektif dilakukan dengan prosentase tertentu. Setiap tahun Perusahaan akan mengkaji basis prosentase tersebut sampai dengan diperoleh data historis yang memadai.
For financial assets that have no any objective evidence of impairment, the Company will provide a provision for impairment loss collectively. The collective impairment is calculated by a certain percentage. Every year the Company will review the basis of such percentage until the Company obtained adequate historical data.
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Dampak atas penurunan nilai yang terjadi sebelum penerapan dibebankan pada tahun berjalan karena pemisahan atas dampak tersebut tidak dapat dilakukan oleh Perusahaan dan tidak praktis.
The effect on the impairment occured before the application is charged to the current year, since the separation of such impact can not be done by the Company and is not practical.
Liabilitas Keuangan Liabilitas Keuangan dikelompokkan kedalam kategori (i) kewajiban keuangan yang diukur pada nilai wajar melalui laporan laba rugi dan (ii) kewajiban keuangan yang diukur dengan biaya perolehan diamortisasi.
Financial Liabilities financial liabilities are classified into (i) financial liabilities are measured at fair value through profit or loss, (ii) financial liabilities are measured at amortized cost.
a. Liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi Nilai wajar liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi adalah liabilitas keuangan yang ditujukan untuk diperdagangkan. Liabilitas keuangan diklasifikasikan sebagai diperdagangkan jika diperoleh terutama untuk tujuan dijual atau dibeli kembali dalam waktu dekat dan terdapat bukti mengenai pola ambil untung dalam jangka pendek terkini. Derivatif diklasifikasikan sebagai liabilitas diperdagangkan kecuali ditetapkan dan efektif sebagai instrumen lindung nilai.
a. Financial liabilities are measured at fair value through profit or loss The fair value of financial liabilities measured at fair value through profit and loss is financial liabilities that are designated for trading. Financial liabilities are classified as trading if acquired primarily for the purpose of sale or repurchase in the near future and there is evidence of the current short-term profit taking pattern. Derivatives are classified as trading liabilities unless specified and effective as hedging instruments.
Perusahaan tidak memiliki liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi.
The Company has no financial liabilities at fair value through profit and loss.
b. Liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi Liabilitas keuangan yang tidak diklasifikasikan sebagai liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi konsolidasian dikategorikan dan diukur dengan biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.
b. Financial liabilities are measured at amortized cost. Financial liabilities that not classified as financial liabilities measured at fair value through profit or loss are classified in this category and are measured at amortized cost. Financial liabilities measured at amortized cost are trade payables, contractor debts, accrued expense, bond payable, and bank loan.
Liabilitas keuangan diakui awalnya pada nilai wajar ditambah biaya transaksi yang dapat diatribusikan secara langsung dalam hal liabilitas keuangan selain derivatif.
Financial liabilities are recognized initially at fair value plus transaction costs that are directly attributable to financial liabilities other than derivatives terms.
Setelah pengakuan awal, utang bank dan utang pembiayaan/liabilitas lancar lainnya diukur pada diamortisasi dengan biaya perolehan menggunakan metode suku bunga efektif. Keuntungan atau kerugian diakui pada laporan laba rugi komprehensif ketika liabilitas dihentikan pengakuannya, dan melalui proses amortisasi.
After initial recognition, bank debt and debt financing / other current liabilities are measured at amortized cost using the effective interest method. Gains or losses are recognized in profit or loss when the liabilities are derecognized, and through the amortization process.
Perusahaan memiliki utang usaha, utang kontraktor, utang lain-lain, utang bank, utang obligasi, utang bantuan pemerintah, utang
The Company has account payables, contractor payables, other payables, bank loans, bond payables, loans from government, liabilities under
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kerjasama operasi, utang pembebasan tanah, dan utang sewa pembiayaan yang diklasifikasikan sebagai liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi.
joint operation agreements, land acquisition liabilities and finance lease liabilities that classified as financial liabilities are measured at amortized cost.
Instrumen Ekuitas Instrumen ekutas merupakan setiap kontrak yang memberikan hak residual atas aset suatu entitas setelah dikurangi dengan seluruh liabilitas.
Equity Instrument Equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all liabilities.
Biaya transaksi yang timbul dari transaksi ekuitas dicatat sebagai pengurang ekuitas (setelah dikurangi manfaat pajak penghasilan terkait), sepanjang biaya tersebut merupakan biaya tambahan yang dapat diatribusikan secara langsung dengan ekuitas, namun diabaikan jika tidak dapat diatribusikan secara langsung.
Transaction costs arising from equity transactions are recorded as a deduction from equity (net of related income tax benefit), provided that such costs are additional costs that are directly attributable to the equity, but ignored if it is not directly attributable.
Metode saham diperoleh kembali dicatat menggunakan metode biaya (cost method) sebesar nilai perolehan, disajikan sebagai pengurang akun Modal Saham.
Treasury stock methods recorded the cost method amounted at cost, are presented as a deduction from Capital Stock account.
Estimasi nilai wajar Wajar untuk instrumen keuangan yang diperdagangkan di pasar aktif ditentukan berdasarkan nilai pasar yang berlaku pada laporan posisi keuangan.
Fair Value Estimate The fair value of financial instruments traded in active markets is determined based on prevailing market value at each reporting date.
Investasi pada efek ekuitas yang nilai wajarnya tidak tersedia dicatat sebesar biaya perolehan.
Investments in equity securities with unavailable fair value are recorded at cost.
Nilai wajar untuk instrumen keuangan lain yang tidak diperdagangkan di pasar ditentukan denganmenggunakan teknik penilaian tertentu.
The fair value for other financial instruments not traded in the market is determined using certain valuation techniques.
Aset keuangan dan liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi, disajikan sebesar nilai tercatat yang nilainya mendekati nilai wajar pada akhir periode/tahun buku pelaporan.
Financial assets and financial liabilities are measured at amortized cost, which are stated at carrying value is close to fair value at end of period/year end reporting.
Saling Hapus Instrumen Keuangan Aset keuangan dan liabilitas keuangan saling hapus buku dan nilai netonya disajikan dalam laporan posisi keuangan konsolidasian jika memiliki hak yang berkekuatan hukum untuk melakukan saling hapus buku atas jumlah yang telah diakui tersebut dan berniat untuk menyelesaikan secara neto atau untuk merealisasikan aset dan menyelesaikan liabilitasnya secara simultan.
Offseting Financial Instruments Financial assets and financial liabilities are offset and its net book value are presented in the consolidated statement of financial position only if it has a legally enforceable right to offset the amount of books that have been recognized and intends to settle on a net basis or to realize the assets and settle liabilities simultaneously.
Penghentian Pengakuan Penghentian pengakuan aset keuangan dilakukan ketika hak kontraktual atas arus kas yang berasal dari aset keuangan tersebut berakhir, atau ketika aset keuangan tersebut telah ditransfer dan secara
Derecognition Derecognition of a financial asset when the contractual rights to do cash flows from the financial asset expire, or when the financial asset has been transferred and substantially all the risks and rewards
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Annual Report 2012
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
substansial seluruh risiko dan manfaat atas kepemilikan aset telah ditransfer (jika secara substansial seluruh risiko dan manfaat tidak ditransfer, maka Perusahaan akan melakukan evaluasi untuk memastikan keterlibatan berkelanjutan atas kontrol yang masih dimiliki tidak mencegah penghentian pengakuan).
of ownership have been transferred (if, substantially all the risks and rewards are not transferred, then the Company will conduct an evaluation to ensure ongoing involvement of the controls which are still not prevent derecognition).
Liabilitas keuangan dihentikan pengakuannya ketika liabilitas yang ditetapkan dalam kontrak dihentikan atau dibatalkan atau kadaluwarsa. Jika liabilitas keuangan yang ada digantikan dengan liabilitas lain dari pemberi pinjaman yang sama dengan persyaratan yang berbeda secara substansial, atau persyaratan dari liabilitas yang ada telah dimodifikasi secara substansial, pertukaran atau modifikasi tersebut diperlakukan sebagai penghentian pengakuan liabilitas awal dan pengakuan atas liabilitas baru, dan selisih antara masing-masing nilai tercatat liabilitas keuangan diakui dalam laporan laba rugi komprehensif.
Financial liabilities are derecognized when the liability specified in the contract is terminated or canceled or expire. If an existing financial liability is replaced by another liability from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of liabilities and the recognition of the beginning of a new liability, and the difference between the carrying amount of each financial liabilities are recognized in the statement of comprehensive income.
3.e. Setara Kas Setara kas meliputi deposito jangka pendek yang jangka waktunya sama dengan atau kurang dari 3 (tiga) bulan sejak tanggal penempatannya dan tidak dijaminkan.
3.e. Cash Equivalents Cash equivalents consist of short-term deposits with maturities equal to 3 (three) months or less from the date of placement and are not pledge as collateral.
3.f. Penurunan Nilai Aset Non Keuangan Pada setiap tanggal laporan posisi keuangan, Perusahaan merevieu nilai tercatat aset non-keungan untuk menentukan ada tidaknya indikasi penurunan nilai aset. Jika terdapat indikasi penurunan nilai aset, jumlah yang dapat diperoleh kembali dari aset tersebut diestimasi untuk menentukan besarnya jumlah penurunan nilai aset, jika ada. Jika estimasi jumlah yang dapat diperoleh kembali tidak dapat dilakukan secara individual, Perusahaan melakukan estimasi jumlah yang dapat diperoleh kembali dari unit penghasil kas dimana aset tersebut berada.
3.f. Impairment of Non Financial Assets At each statement of financial position date, the Company reviews the carrying amounts of their nonfinancial assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine theextent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimate the recoverable amount of the cash-generating unit to which the asset belongs.
Jika suatu nilai yang dapat diperoleh kembali dari suatu aset ditaksir lebih kecil dari nilai tercatatnya, nilai tercatat aset tersebut atau unit penghasil kasnya harus diturunkan menjadi sebesar nilai yang dapat diperoleh kembali. Rugi penurunan nilai aset segera diakui sebagai beban pada laporan laba rugi komprehensif, kecuali aset tersebut dicatat dengan metode revaluasi, maka rugi penurunan nilai diperlakukan sebagai penurunan revaluasi dan diakui sebagai rugi pada laporan laba rugi komprehensif konsolidasian.
If the recoverable amount of the asset or cashgenerating unit is estimated to be less than its carrying amount, the carrying amount of the asset or cash-generating unit is reduced to its recoverable amount. An impairment loss is recognized immediately in profit or loss, unless the relevant asset is carried at revaluation model, in which case the impairment loss is treated as a revaluation decrease and is recognized as loss in the consolidated statements of comprehensive income.
3.g. Biaya Dibayar di Muka Biaya dibayar di muka dibebankan dalam laporan laba rugi sesuai masa manfaatnya.
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3.g. Prepaid Expense Prepaid expenses are charged to the statements of income in accordance with the beneficial periods.
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
3.h. Aset Tetap Aset tetap pada awalnya dinyatakan sebesar harga perolehan. Setelah pengakuan awal, dipertanggungjawabkan dengan menggunakan model biaya dan dinyatakan sebesar harga perolehan dikurangi dengan akumulasi penyusutan dan penyisihan penurunan nilai. Hak atas tanah tidak disusutkan dan disajikan sebesar biaya perolehan.
3.h. Property and Equipment Property and equipment, after initial recognition, are measured based on cost method and stated at cost less accumulated depreciation and provision for impairment. Land rights are not depreciated and are stated at cost.
Aset tetap disusutkan dengan menggunakan metode garis lurus (straight line method) untuk mengalokasikan harga perolehan hingga mencapai nilai residu sepanjang estimasi masa manfaatnya sebagai berikut:
Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets as follows:
Tahun/Years Gedung Kantor dan Bangunan Lain Peralatan Operasional dan Kantor Kendaraan Bermotor
Office and Other Buildings Operational and Office Equipment Vehicles
Tanah dinyatakan sebesar biaya perolehan dan tidak disusutkan.
Land is stated at cost and not depreciated.
Biaya pemeliharaan dan perbaikan dibebankan ke dalam Iaporan laba rugi pada saat terjadinya, sedangkan pemugaran dan penambahan daIam jumlah material dikapitalisasi. Aset tetap yang sudah tidak digunakan lagi atau yang dilepas, biaya perolehan serta akumulasi penyusutannya dikeluarkan dari aset tetap yang bersangkutan dan keuntungan atau kerugian yang timbul dilaporkan di dalam laporan Iaba rugi tahun yang bersangkutan.
The cost of maintenance and repairs is charged to the statements of income as incurred, significant renewals and betterment are capitalized. When assets are retired or otherwise disposed of, carrying value and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the statements of income for the years.
Aset tetap dalam penyelesaian disajikan sebagai bagian dalam aset tetap dan dinyatakan sebesar biaya perolehan. Semua biaya, termasuk biaya pinjaman, yang terjadi sehubungan dengan pembangunan aset tersebut dikapitalisasi sebagai bagian dari biaya perolehan aset tetap dalam penyelesaian. Akumulasi biaya perolehan yang akan dipindahkan ke masingmasing aset tetap yang bersangkutan pada saat aset tersebut selesai dikerjakan atau siap digunakan dan disusutkan sejak beroperasi.
Construction in progress are presented as part of property and equipment and stated at cost. All costs, including borrowing costs, incurred in connection with the construction of assets are capitalized as part of the cost of fixed assets in progress. The accumulated cost will be reclassified to the appropriate fixed asset account when the asset is completed or ready for use and depreciated since the operation.
Jumlah tercatat aset tetap dihentikan pengakuannya pada saat dilepaskan atau saat tidak ada manfaat ekonomis masa depan yang diharapkan dari penggunaan atau pelepasannya. Laba atau rugi yang timbul dari penghentian pengakuan aset (dihitung sebagai perbedaan antara jumlah neto hasil pelepasan dan jumlah tercatat dari aset) dimasukkan dalam laporan laba rugi komprehensif pada periode/tahun aset tersebut dihentikan pengakuannya.
An item of fixed assets is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statements of comprehensive income in the period/year the asset is derecognized.
Pada akhir periode/tahun buku pelaporan, Perusahaan melakukan penelaahan berkala atas masa manfaat ekonomis aset, nilai residu, metode penyusutan, dan sisa umur pemakaian berdasarkan kondisi teknis.
At the end of reporting period/year end, the Company periodically reviews the useful lives of the assets, asset’s residual value, depreciation method and the remaining usage expectation based on technical specification.
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
3.i. Sewa Pembiayaan Didalam aset, terdapat peralatan tol yang pembangunannya didanai oleh pihak ketiga, selanjutnya pihak ketiga menyewakan peralatan tol tersebut kepada Perusahaan yang dapat dikategorikan sebagai sewa pembiayaan. Suatu sewa diklasifikasikan sebagai sewa pembiayaan jika sewa tersebut mengalihkan secara substantial seluruh risiko dan manfaat yang terkait dengan kepemilikan aset.
3.i. Capital Lease Included in the property and equipment, is toll equipment which its construction was funded by third party, and then third party lease such toll equipment to the Company and this can be classified as a finance lease. A lease is classified as finance lease if all risks and benefits associated with the ownership have been substantially transferred.
Aset sewa guna usaha dinyatakan sebesar biaya perolehan dikurangi dengan akumulasi penyusutannya. Biaya perolehan disusutkan selama masa umur manfaat ekonomi aset tetap bersangkutan dengan menggunakan metode garis lurus yang masa manfaatnya adalah 5 tahun.
Finance lease assets are stated at acquisition cost less accumulated depreciation. The acquisition cost is depreciated over the economic useful life of the related assets using the straight line method with useful life for 5 years.
3.j. Investasi pada Entitas Asosiasi Entitas asosiasi adalah suatu perusahaan dimana Perusahaan dan Entitas Anak mempunyai pengaruh yang signifikan, namun tidak mempunyai pengendalian atau pengendalian bersama, melalui partisipasi dalam pengambilan keputusan atas kebijakan finansial dan operasional investi.
3.j. Investments in Associates An associate is an entity over which the Company and its Subsidiaries have a significant influence, but does not have control or joint control, through participation in decision-making over financial and operating policies investee.
Investasi pada entitas asosiasi dicatat dengan metode ekuitas, yaitu pada awalnya investasi dicatat sebesar biaya perolehan dan selanjutnya disesuaikan untuk perubahan dalam bagian kepemilikan Perusahaan dan Entitas Anak atas aset bersih entitas asosiasi yang terjadi setelah perolehan, dikurangi dengan penurunan nilai yang ditentukan untuk setiap investasi secara individu.
Investments in associates are accounted for using the equity method, the investment is initially recorded at cost and subsequently adjusted for changes in the Company's subsidiaries and net assets of the entity after the acquisition of the associate, less any impairment in value is determined for each investment individually.
Bagian Perusahaan dan Entitas Anak atas kerugian entitas asosiasi yang melebihi nilai tercatat dari investasi (yang mencakup semua kepentingan jangka panjang, secara substansi, membentuk investasi neto Perusahaan dan Entitas Anak dalam entitas asosiasi) maka Perusahaan dan Entitas Anak akan menghentikan pengakuan bagian atas ruginya lebih lanjut.
Equity in losses of Subsidiaries and associated companies in excess of the carrying amount of the investment (which includes all long-term interests, in substance, form the net investment in Subsidiaries in associated companies) the Company and the Subsidiaries will discontinue recognition of further harm in the upper.
Perusahaan dan entitas anak akan menentukan pada setiap tanggal pelaporan apakah terdapat bukti yang obyektif yang mengindikasikan bahwa investasi pada entitas asosiasi mengalami penurunan nilai. Dalam hal ada indikasi tersebut, jumlah penurunan nilai dihitung berdasarkan selisih antara jumlah terpulihkan dengan nilai tercatat investasi pada entitas asosiasi, dan mengakuinya sebagai kerugian dalam laporan laba rugi komprehensif konsolidasian.
The Company and its subsidiaries will determine at each reporting date whether there is objective evidence which indicates that investments in associates are impaired. In case there is any indication, the impairment amount is calculated based on the difference between the recoverable amount to the carrying value of investments in associated companies, and recognized as a loss in the consolidated statements of comprehensive income
3.k. Aset Takberwujud Aset hak konsesi merupakan hak Grup untuk membebankan pengguna jasa publik berdasarkan perjanjian jasa konsesi. Aset hak konsesi dicatat pada nilai wajar dari imbalan yang diterima atau akan diterima atas jasa kontrak konstruksi yang diberikan ditambah
3.k. Intangible Assets Concession assets are the Group’s rights to charge users of public services based on concession services arrangements. Concession assets are recorded at fair value of benefit that received or to be received for construction services rendered. These concession
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
dengan margin konstruksi yang telah ditentukan oleh manajemen. Aset hak konsesi ini diamortisasi selama masa hak konsesi dengan menggunakan metode garis lurus sebagai berikut: Ruas Jalan Tol
Tahun/Years
Toll Roads
40 40 40 40 40 40 40 40 40 40 40
Jakarta – Bogor – Ciawi Jakarta – Tangerang Surabaya – Gempol Jakarta – Cikampek Padalarang – Cileunyi Prof. Dr. Ir. Sedyatmo Cawang – Tomang – Pluit Belawan – Medan – Tanjung Morawa Semarang Section A, B, and C Pondok Aren – Bintaro Viaduct – Ulujami Palimanan – Kanci Jakarta Outer Ring Road (JORR) Section E1, E2, E3 and W2 Cikampek – Padalarang JORR Section S *
Jakarta – Bogor – Ciawi Jakarta – Tangerang Surabaya – Gempol Jakarta – Cikampek Padalarang – Cileunyi Prof. Dr. Ir. Sedyatmo Cawang – Tomang – Pluit Belawan – Medan – Tanjung Morawa Semarang Seksi A, B, dan C Pondok Aren – Bintaro Viaduct – Ulujami Palimanan – Kanci Jakarta Outer Ring Road (JORR) Section E1, E2, E3, dan W2 Cikampek – Padalarang JORR Seksi S *
40 40 15
*) lihat Catatan 47.i
*) see Note 47.i
Biaya Konstruksi Biaya konstruksi merupakan seluruh biaya konstruksi pembangunan jalan tol atau peningkatan kapasitas jalan tol yang meliputi pengadaan tanah, studi kelayakan dan biaya-biaya lain yang berhubungan langsung dengan pembangunan jalan tol, termasuk biaya pembangunan jalan akses ke jalan tol, jalan altenatif dan fasilitas jalan umum yang disyaratkan, ditambah biaya pinjaman lain yang secara langsung digunakan untuk mendanai proses pembangunan aset tersebut. Biaya pinjaman dikapitalisasi sampai dengan saat proses pembangunan tersebut selesai dan dioperasikan.
Construction Cost Construction Cost comprehend all the amount of toll road construction costs or toll road escalation consisting of land acquisition cost, feasibility study cost and other costs that are directly related to toll road construction, including construction costs for access roads, alternative roads and required public road facilities, interest and other borrowing costs, either directly or indirectly used for financing the development of assets. These costs are capitalized until the construction accomplished and operated.
Grup mencatat pendapatan dan biaya kontruksi bersamaan dengan pengakuan aset takberwujud pada tahap kontruksi.
The Group accounted for construction revenue and construction cost at the same time recognition of integible asset during construction phase.
Aset Takberwujud Lainnya Biaya-biaya Pra-Konstruksi yakni biaya-biaya yang terkait dengan perolehan tanah yang disiapkan untuk konstruksi jalan tol dicatat sebagai aset takberwujud lainnya.
Other Intangible Assets Pre-Construction costs which are costs associated with the acquisition of land prepared for construction of toll roads are recorded as part of other intangible asset.
Aset Kerjasama Operasi Dengan diterapkannya ISAK 16: “Perjanjian Konsesi Jasa” sejak 1 Januari 2012, maka seluruh aset kerjasama operasi telah direklasifikasi menjadi aset takberwujud.
Joint Operation Assets Since the Group adopted ISAK 16: “Concession Services Arrangements” which effective on January 1, 2012 all joint operation assets has been reclassified into intangible assets.
Sebelumnya, di dalam aset hak pengusahaan jalan tol, terdapat jalan tol yang pembangunannya didanai oleh
Previously the toll road concession rights assets include toll road developments which are funded by
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assets are intangible assets which are amortized over the concession period using the straight-line method as follows:
Annual Report 2012
Constructing towards the Future
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
investor (tanpa kuasa penyelenggaraan). Sebelum berlakunya Undang-undang Jalan No.38 Tahun 2004 pengganti Undang-undang Jalan No.13 Tahun 1980, Perusahaan diberi wewenang untuk bekerja sama dengan investor dalam penyelenggaraan jalan tol dengan persetujuan Pemerintah yang meliputi kerjasama operasi tanpa kuasa penyelenggaraan dan kerjasama operasi dengan kuasa penyelenggaraan.
investors (without operating fights). Prior to Law No.38 of 2004 regarding Roads, which superseded the Road Law No.13 of 1980, the Company was given an authority to enter into joint operations with investors for the toll road operations, with the approval from Government, including joint operation agreements with and without operation rights.
Jalan tol yang pembangunannya didanai oleh investor tanpa kuasa penyelenggaraan dengan pola bagi pendapatan atau bagi hasil tol untuk masa tertentu, dan pengoperasiannya dikendalikan oleh Perusahaan, dicatat oleh Perusahaan sebagai jalan tol kerjasama operasi dan mengakui kewajiban (jangka panjang) kerjasama operasi pada saat jalan tol selesai dibangun dan diserahkan oleh investor untuk dioperasikan.
The construction of toll road is funded by investors without operation rights under revenue or profit sharing scheme for certain period of time, and the operation is controlled by the Company, is recorded by the Company as joint operation toll road and the Company recognized joint operation liabilities (long term) when the construction is completed and transferred by the investor to be operated.
Jalan tol kerjasama operasi disusutkan selama masa hak pengusahaan jalan to pada saat aset selesai dibangun dan diserahkan oleh investor untuk dioperasikan dengan menggunakan metode garis lurus (straight-line method).
Joint operation toll roads are depreciated over their respective concession periods using the straight line method, commencing from the time the asset has been completely built and transferred from the investor to be operated by the Company.
Sehubungan dengan pelaksanaan Undang-undang Jalan No.38 Tahun 2004, Perusahaan telah memperoleh hak pengusahaan jalan tol (hak konsesi) untuk 13 ruas jalan tol yang diusahakannya menurut Perjanjian Pengusahaan Jalan Tol (PPJT) pada 7 Juli 2006 selama 40 tahun yang berlaku efektif sejak 1 Januari 2005 sampai dengan 31 Desember 2044. Penerimaan hak pengusahaan jalan tol tersebut berdampak pada perubahan taksiran masa manfaat aset tetap khususnya pada kelompok aset Jalan dan Jembatan dan perubahan klasifikasi aset Jalan dan Jembatan yang sebelumnya dikelompokkan sebagai Aset Pemilikan Langsung dan Jalan Tol Kerjasama Operasi menjadi kelompok Aset Hak Pengusahaan Jalan Tol.
In connection with the implementation of the Law No.38 of 2004 regarding Roads, the Company received concession rights for 13 toll road sections that were operated or under construction by the Company based on separate Toll Road Concession Agreements, each dated July 7, 2006, for a period of 40 years from January 1, 2005 to December 31, 2044. The Company's receipt of these concession rights resulted in an extension of estimated useful life of roads and bridges assets and the need for reclassification of the roads and bridges assets from Direct Ownership Assets and Joint Operation Toil Roads categories into Concession Rights Assets category.
Sebelum diterimanya hak pengusahaan jalan tol pada tanggal 1 Januari 2005, aset jalan tol yang terdiri dari aset Jalan dan Jembatan dan aset Jalan Tol Kerjasama Operasi disusutkan selama masa manfaat ekonomi diestimasi sejak perolehan aset. Setelah diterimanya hak pengusahaan jalan tol pada tanggal 1 Januari 2005, taksiran masa manfaat aset Jalan dan Jembatan dan Jalan Tol Kerjasama Operasi diperpanjang menjadi selama masa hak pengusahaan jalan tol yang diterima dan disusutkan setiap tahunnya sebesar nilai buku aset Jalan dan Jembatan pada 1 Januari 2005 dibagi dengan masa hak pengusahaan jalan tol.
Prior to the Company's receipt of these concession rights on January 1, 2005, the toll road assets consisting of roads and bridges and joint operation toll roads were depreciated over their estimated economic useful life. Since January 1, 2005, their estimated economic useful life of roads and bridges and joint operation toll roads have been extended through the end of the concession period and the assets are depreciated annually based on their book value as of January 1, 2005 divided by the concession period.
3.l. Provisi Pelapisan Jalan Tol Dalam pengoperasian jalan tol, Grup mempunyai kewajiban untuk menjaga standar kwalitas jalan tol sesuai dengan SPM (Satandar Pelayanan minimum) yang ditetapkan oleh Kementrian Pekerjaan Umum,
3.l. Provision for Overlay In operating toll roads, the Group is obliged to maintain the quality in accordance with the minimum service standards that have been established by the Ministry of Public that is by perfoming overlay regularly. The cost
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yaitu dengan melakukan pelapisan ulang jalan tol secara berkala akan diprovisi berdasarkan estimasi seiring dengan penggunaan jalan tol oleh pelanggan. Provisi diukur dengan nilai kini atas estimasi managemen terhadap pengeluaan yang diperlukan untuk menyelesaikan liabilitas kini pada tanggal pelaporan.
of this overlay will periodically be provision based on estimation with the utilization of toll road by customers. This provision is measured using the present value of management‘s estimate of expenditures required to settle present obligation at the reporting date.
3.m. Utang Obligasi dan Biaya Emisi Obligasi Utang obligasi disajikan sebesar nilai nominal setelah memperhitungkan amortisasi premium atau diskonto. Biaya emisi obligasi merupakan biaya transaksi yang dikurangkan langsung dari hasil emisi dalam menentukan hasil emisi bersih obligasi. Selisih antara hasil emisi bersih dengan nilai nominal merupakan diskonto atau premium dan diamortisasi selama jangka waktu obligasi yang bersangkutan.
3.m. Bonds Payable and Bond Issuance Costs Bonds payable are presented at par value net of amortized premium or discount. Bond issuance costs represent transaction costs which are directly deducted from issuance proceeds to reflect the net proceeds of the bonds. The difference between net bond proceeds and the par value of the bonds represents a discount or premium which will be amortized over the outstanding period of the bond.
3.n. Biaya Emisi Saham Biaya emisi saham disajikan sebagai pengurang dalam akun Tambahan Modal Disetor.
3.n. Stock Issuance Costs Stock issuance costs are presented as deduction to the additional paid in capital.
3.o. Pengakuan Pendapatan dan Beban
3.o. Revenue and Expense Recognition
Pendapatan Konstruksi Grup mengakui aset takberwujud atas jasa konstruksi dan peningkatan kemampuan dimana Grup menerima hak (lisensi) untuk membebankan pengguna jasa publik. Suatu hak untuk membebankan pengguna jasa publik bukan merupakan hak tanpa syarat untuk menerima kas karena jumlahnya bergantung pada sejauh mana publik menggunakan jasa. Pada fase konstruksi, Grup mencatat aset takberwujud dan mengakui pendapatan dan biaya konstruksi sesuai dengan kontrak biaya-plus.
Construction Revenues The Group recognizes Intangible assets of construction services and increased capacity in which the Group receives the rights (license) to charge users of public services. A right to charge users of public services is not an unconditional right to receive cash because the amounts depend on the extent of public using the service. In the construction period, the Group recorded intangible assets and recognize revenues and costs of construction in accordance with cost-plus contract.
Pendapatan tol Pendapatan tol dari hasil pengoperasian jalan tol dicatat pada saat penjualan karcis tol dan/atau jasa telah diberikan. Pendapatan tol dari hasil kerjasama pengoperasian jalan tol dengan investor dengan kuasa penyelenggaraan diakui pada saat penjualan karcis tol setelah dikurangi bagian investor tersebut. Pembayaran oleh Perusahaan kepada investor tanpa kuasa penyelenggaraan dicatat sebagai angsuran kewajiban kerjasama operasi. Selisih antara jumlah pembayaran ini dengan angsuran kewajiban kerjasama operasi dicatat sebagai beban atau penghasilan kerjasama operasi.
Toll Revenues Revenue from toll road operations is recognized when toll tickets are sold and/or services are rendered. Revenue from profit sharing arrangement between the recognized when toll tickets are sold, net of investor's share. Payments to investors without operating rights are recorded as a mandatory installment under joint operation. The excess of total payment over mandatory installment under joint operation is recorded as joint operation expense or revenue.
Pendapatan Usaha Lainnya Pendapatan sewa iklan, lahan dan tempat peristirahatan serta pendapatan jasa pengoperasian diakui sesuai periode yang sudah berjalan dalam tahun yang bersangkutan. Pendapatan diterima di muka untuk periode yang belum berjalan diakui sebagai pendapatan diterima di muka dan disajikan di laporan posisi keuangan sebagai liabilitas.
Other Operating Revenues Revenues from advertisement, space, and rest area and income from toll road operating service are recognized when earned. Advances received not yet earned are recognized as unearned revenue and are presented in the statements of financial position as a liability.
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Annual Report 2012
Constructing towards the Future
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Pendapatan Lainnya Pendapatan dividen dari aset keuangan lainnya diakui pada saat pembagian dividen diumumkan. Pendapatan lainnya diakui atas dasar akrual
Other Income Dividend income from other financial asset is recognized when the dividend distribution has been declared. Other income is recognized based on accrual basis.
Beban Beban diakui pada saat terjadinya (basis akrual).
Expenses Expenses are recognized when incurred (accrual basis).
Beban Konstruksi Beban konstruksi merupakan harga pokok dari jumlah perolehan kontrak konstruksi.
Construction Cost Construction cost is cost of goods from contruction contract.
3.p. Transaksi dan Saldo Dalam Mata Uang Asing Perusahaan menyelenggarakan pembukuannya daiam mata uang Rupiah. Transaksi-transaksi dalam mata uang asing dicatat dengan kurs yang berlaku pada saat terjadinya transaksi. Pada tanggal neraca, aset dan kewajiban moneter dalam mata uang asing dijabarkan dalam mata uang Rupiah dengan kurs Bank Indonesia yang berlaku pada tanggal tersebut sebagai berikut:
3.p. Transactions and Balances in Foreign Currencies The Company maintains its accounting records in Indonesian Rupiah. Transactions involving foreign currencies are recorded at the rate of exchange prevailing at the time of the transactions. On each balance sheet date, monetary assets and liabilities denominated in foreign currencies are translated to Rupiah using the Bank of Indonesia average rate of exchange at such date, as follows:
2012 Rp USD
2011 Rp 9,670
9,068
USD
Keuntungan atau kerugian yang timbul sebagai akibat dari penjabaran aset dan kewajiban dalam mata uang asing dicatat sebagai laba atau rugi tahun berjalan.
Any resulting gains or losses on the translation of foreign currency assets and liabilities are credited or charged to operations of the current year in the statement of income.
3.q. Pajak Penghasilan Seluruh perbedaan temporer antara jumlah tercatat aset dan kewajiban dengan dasar pengenaan pajaknya diakul sebagai pajak tangguhan dengan metode kewajiban (liability method). Pajak tangguhan diukur dengan tarif pajak yang berlaku saat ini.
3.q. Income Tax All temporary differences between the tax base of assets and liabilities and their carrying value for financial reporting purposes are recognized as deferred income tax using the liability method. Deferred income tax is calculated using currently enacted tax rates.
Saldo rugi fiskal yang dapat dikompensasi diakui sebagai aset pajak tangguhan apabila besar kemungkinan bahwa jumlah laba fiskal mendatang akan memadai untuk dikompensasi, koreksi terhadap kewajiban perpajakan diakui saat surat ketetapan pajak diterima atau jika Perusahaan mengajukan keberatan dan banding maka pada saat keputusan atas keberatan dan banding tersebut telah ditetapkan.
Deferred tax assets relating to the carry forward of unused tax losses are recognized to the extent that if is probable that future taxable profit will be available against which the unused tax losses can be utilized. Amendments to taxation obligations are recognized when tax assessment letters are received or, if objected to or appealed against, when the results of the objection or appeal are determined.
Pajak penghasilan kini dihitung dari laba kena pajak, yaitu laba yang telah disesuaikan dengan peraturan pajak yang berlaku.
Current income tax is calculated from taxable income which is net income adjusted under the current tax regulations.
3.r. Imbalan Kerja
3.r. Employee Benefits
Perusahaan Efektif 1 Januari 2012, Perusahaan menerapkan PSAK 24 (Revisi 2010), “Imbalan Kerja”, Revisi SAK ini antara d1/March 24, 2013
The Company Effective Januari 1, 2012, the Company follows PSAK 24 (Revised 2010), “Employee Benefits”. The revised 28
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lain membolehkan entitas untuk menerapkan metode sistematis atas pengakuan yang lebih cepat dari keuntungan/kerugian aktuarial yang timbul dari imbalan pasti, antara lain pengakuan langsung keuntunga/kerugian yang terjadi pada periode berjalan ke dalam pendapatan komprehensif lain. Karena Perusahaan memilih tetap menggunakan metode pengakuan keuntungan/kerugian dengan menggunakan metode koridor seperti diuraikan di bawah ini. Dengan Demikian penerapan awal PSAK 24 (Revisi 2010) ini tidak berdampak signifikan terhadap laporan keuangan selain tambahan konsolidasian Perusahaan pengungkapan.
SAK permit an entity to adopt any systematic method that results in faster recognition of actuarial gains and losses, which among others is immediate recognition of actuarial gains and losses in the period in which they occur recognized in other comprehensive income. The Company choose to continue to use the corridor approach in recognizing the actuarial gains and losses as futher describe below. Therefore intial adoption of PSAK 24 (Revised 2010) did not give significant impact to the Company’s consolidated financial statements aside from additional disclosure.
Program Pensiun Nilai kini liabilitas pascakerja tergantung pada beberapa faktor yang ditentukan dengan dasar aktuarial berdasarkan beberapa asumsi. Asumsi yang digunakan untuk menentukan biaya (penghasilan) pensiun neto mencakup tingkat diskonto. Perubahan asumsi ini akan mempengaruhi jumlah tercatat imbalan pasca kerja.
Pension Program The present value of post employment benefit depends on several factors which are determined by actuarial basis based on several assumptions. Assumptions used to determine pension costs (benefits) covered discount rate. The changes of assumption might affect carrying value of post employment benefit.
Perusahaan menentukan tingkat diskonto yang sesuai pada akhir pelaporan, dengan mempertimbangkan tingkat suku bunga obligasi pemerintah yang didenominasi dalam mata uang imbalan yang akan dibayar dan memiliki jangka waktu yang serupa dengan jangka waktu liabilitas yang terkait.
The Company determines the appropriate discount rate at the final reporting, by considering the discount rate of governement’s bond which denominated in benefit’s currency that will be paid and have a similar terms with the terms of the related liabilities.
Perusahaan menyelenggarakan program pensiun manfaat pasti untuk pegawai tetap yang dikeloia oleh Dana Pensiun Jasa Marga (DPJM). Manfaat pensiun yang akan dibayar dihitung berdasarkan penghasilan dasar pensiun dan masa kerja pegawai.
The Company provides a defined benefit pension plan covering all permanent employees which is managed by the Jasa Marga Pension Fund (DPJM). Payments under the post retirement benefit program are determined based on basic pension income and the period of the employment.
DPJM telah mendapat persetujuan dari Menteri Keuangan Republik Indonesia No.KEP370/KM.17/1997, tanggal 15 Juli 1997 dan diperbaharui dengan Surat Keputusan No.KEP-379/KM.6/2004, tanggal 14 September 2004.
The DPJM has been approved by the Decree of the Ministry of Finance of the Republic of Indonesia No.KEP-370/KM.17/1997, dated July 15, 1997 and amended by the Decree No.KEP-379/KM.6/2004, dated September 14, 2004.
Jumlah iuran karyawan untuk program pensiun sebesar 3% dari gaji pokok dan sisa pendanaan sebesar 7,48% menjadi beban Perusahaan.
The employees contribute 3% of their basic salaries to the plan and the remaining funding of 7.48% is contributed by the Company.
Program Purna Karva Berdasarkan Surat Keputusan Direksi No. 163/KPTS/2003, tanggal 23 September 2003, Perusahaan akan memberikan tunjangan purna karya berupa pembayaran sekaligus sebanyak 24 kali penghasilan terakhir (diluar lembur dan tunjangan pajak) kepada karyawan yang berhenti bekerja karena pensiun, meninggal, atau cacat. Bagi karyawan yang memasuki usia pensiun dipersyaratkan memiliki masa kerja minimal 25 tahun. Surat keputusan ini berlaku efektif sejak 1 Januari 2003.
Post Retirement Benefit Program Based on the Company’s Directors Decree No. 163/KPTS/2003, dated September 23, 2003, the Company provides retirement benefit which is equal to 24 times the monthly salary (excluding overtime and tax allowance) for employees who cease work due to retirement, death, or disability. Employees who have reached retirement age are required to have a minimum working period of 25 years to obtain this benefit. This decree was effective on January 1, 2003.
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Jumlah iuran premi coming service setiap bulan adalah sebesar 6% dari Penghasilan Dasar Asuransi (PhDA) dengan proporsi Perusahaan dan karyawan masingmasing sebesar 4% dan 2% dari PhDA.
The amount premium contribution coming service each month is 6% from insurance basic income with representing by the Company and employee proportion 4% and 2% from insurance basic income, respectively.
Perusahaan mengadakan kontrak kerjasama pengelolaan program Purna Karya karyawan dengan AJB Bumiputera 1912, melalui Perjanjian No. 34/Kontrak-DIR/2007 dan No. 441/AJB/JM/PKS/12/07, tanggal 19 Desember 2007. Program Purna Karya dalam kontrak ini akan memberikan manfaat dalam bentuk uang purna karya secara sekaligus (lumpsum) kepada karyawan tetap yang berhenti bekerja.
The Company entered into cooperation agreement to manage employee Post Retirement with AJB Bumiputera 1912, through agreement No. 34/KontrakDIR/2007 and No. 441/AJB/JM/PKS/12/07, dated December 19, 2007. The post retirement in this contract will give a benefit in post retirement cash in lump sum to the resign permanent employee.
Program Kesehatan Pensiunan Berdasarkan Surat Keputusan Direksi No. 165/KPTS/2003, tanggal 23 September 2003, tentang Penyempurnaan Kedua Keputusan Direksi No. 61/KPTS/2001 tentang Pengelolaan Pemeliharaan Kesehatan Pensiunan dan Keluarga, yang bertujuan untuk tetap menjaga agar pensiunan dan keluarga pensiunan dapat melakukan pola hidup sehat dan memiliki produktivitas yang tinggi, keluarga pensiunan yang mendapat bantuan pengobatan dari Perusahaan dibatasi dengan jumlah anak sebanyak-banyaknya 3 orang dan telah terdaftar di Perusahaan.
Pension Healthcare Program Based on the Directors’ Decree No. 165/KPTS/2003, dated September 23, 2003 regarding The Second Improvement of the Directors’ Decrees No. 61/KPTS/2001 regarding The Management of Health Maintenance for the Pensioner and Family, which its objective is to allow the pensioner and family to have a healthy life and high productivity, the pensioner’s family that are eligible to receive medical assistance from the Company are limited to 3 children that are registered with the Company.
Perusahaan menghitung kewajiban imbalan pasca kerja dengan metode projected unit credit, sesuai dengan PSAK 24 (Revisi 2004). Biaya jasa kini diakui sebagai beban pada tahun berjalan. Biaya jasa lalu sebagai dampak perubahan asumsi aktuaria bagi karyawan aktif diakui dalam laporan laba rugi selama sisa masa kerja rata-rata karyawan tersebut. Imbalan kerja atas pemutusan hubungan kerja diakui sebagai kewajiban dan beban pada saat terjadi.
Based on PSAK 24 (Revised 2004), the Company has calculated the liability for other employee benefits using the projected unit credit method, Current service cost is recognized as an expense in the current period. Past service cost, actuarial adjustments and the effect of changes in actuarial assumptions for active employees are recognized in statements of income over the estimated average remaining working period of those employees. Employee benefits for terminations are recognized as liabilities and expenses when these occur.
Entitas Anak
Subsidiaries
Program Pensiun PT Jalantol Lingkarluar Jakarta (JLJ) menyelenggarakan program pensiun iuran pasti untuk semua karyawan tetapnya. Program pensiun didanai seluruhnya oleh JLJ. Kontribusi yang diberikan JLJ dibebankan pada laporan laba rugi tahun berjalan.
Pension Program PT Jalantol Lingkarluar Jakarta (JLJ) provides a defined contribution pension program covering all permanent employees. The pension program is entirely funded by JLJ. The contribution borne by JLJ is charged to the statement of income in the current period.
Program Imbalan Kerja Lainnya JLJ, SMU, TMJ dan MNA (Entitas Anak) membukukan kewajiban atas program imbalan kerja sesuai dengan Undang-undang Ketenagakerjaan No.13/2003 tahun 2003. Sesuai dengan PSAK 24 (Revisi 2004), kewajiban atas masa kerja lalu diestimasi dengan menggunakan metode projected unit credit. Tidak terdapat pendanaan yang disisihkan oleh Entitas Anak sehubungan dengan estimasi kewajiban tersebut.
Other Employee Benefit Program JLJ, SMU, TMJ and MNA (Subsidiaries) recognized other employee benefit liabilities conducted in accordance with Labor Law No.13/2003 of 2003. Based on PSAK 24 (Revised 2004), employee benefit liabilities is estimated using the projected unit credit method. No funding is allocated by Subsidiaries relation with estimation of employee benefits.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Biaya jasa kini diakui sebagai beban pada tahun berjalan. Biaya jasa lalu sebagai dampak perubahan asumsi aktuaria bagi karyawan aktif diakui dalam laporan laba rugi selama sisa masa kerja rata-rata karyawan tersebut. Imbalan kerja atas pemutusan hubungan kerja diakui sebagai kewajiban dan beban pada saat terjadi.
Current service cost is recognized as an expense in the current year. Past service cost as effect of changes in actuarial assumptions for active employees are recognized in statements of income over the estimated average remaining working period of those employees. Employee benefits for terminations are recognized as liabilities when these expenses occur.
3.s. Transaksi dengan Pihak Berelasi Pihak berelasi adalah orang atau entitas yang terkait dengan entitas yang terkait dengan Perusahaan dan Entitas Anak (entitas pelapor). 1) Orang atau anggota keluarga terdekat mempunyai relasi dengan entitas pelapor jika orang tersebut:
3.s. Transactions with Related Parties A related party is a person or entity that is related to the Company and its subsidiaries (the reporting entity).
a. Memiliki pengendalian atau pengendalian bersama atas entitas pelapor; b. Memiliki pengaruh signifikan atas entitas pelapor; atau c. Personil manajemen kunci entitas pelapor atau entitas induk entitas pelapor.
a. has control or joint control over the reporting entity; b. has significant influence over the reporting entity; or c. is a member of the key management personnel of the reporting entity or of a parent of the reporting entity.
1) A person or a close member of that person's family is related to the reporting entity if that:
2) Suatu entitas berelasi dengan entitas pelapor jika memenuhi salah satu hal berikut:
2) An entity is related to a reporting entity if any of the following conditions applies:
a. Entitas dan entitas pelapor adalah anggota dari kelompok usaha yang sama (artinya entitas induk, entitas anak, dan entitas anak berikutnya terkait dengan entitas lain); b. Satu entitas adalah entitas asosiasi atau ventura bersama dari entitas lain (atau entitas asosiasi atau ventura bersama yang merupakan anggota suatu kelompok usaha, yang mana entitas lain tersebut adalah anggotanya); c. Kedua entitas tersebut adalah ventura bersama dari pihak ketiga yang sama; d. Satu entitas adalah ventura bersama dari entitas ketiga dan entitas yang lain adalah entitas asosiasi dari entitas ketiga; e. Entitas tersebut adalah suatu program imbalan pascakerja untuk imbalan kerja dari salah satu entitas pelapor atau entitas yang terkait dengan entitas pelapor. Jika entitas pelapor adalah entitas yang menyelenggarakan program tersebut, maka entitas sponsor juga berelasi dengan entitas pelapor; f. Entitas yang dikendalikan atau dikendalikan bersama oleh orang yang dildentifikasikan dalam huruf a; atau g. Orang yang diidentifikasikan dalam huruf (1) (a) memiliki pengaruh signifikan atas entitas atau personil manajemen kunci entitas (atau entitas induk dari entitas.
a. The entity and the reporting entity are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others); b. One entity is an associate or joint venture of the other entity (or an associate or joint venture of amember of a group of which the other entity is a member); c. Both entities are joint ventures of the same third party; d. One entity is a joint venture of a third entity and the other entity is an associate of the third entity; e. The entity is a post-employment defined benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related to the reporting entity; f. The entity is controlled or jointly controlled by a person identified in (a); or g. A person identified in (1)(a) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity).
Entitas Berelasi dengan Pemerintah dapat diklasifikasikan sebagai berikut adalah: Entitas yang d1/March 24, 2013 304
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Related Parties with Government classified as follows: Entities which significantly controlled by the Finance 31
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
dikendallikan secara signifikan oleh Kementerian Keuangan atau Pemerintah Daerah yang merupakan Pemegang Saham Entitas. Pemerintah RI yang diwakili oleh Kementerian BUMN sebagai kuasa pemegang saham.
Ministry or Local Government that representing as the shareholders of the entity. The Government of Indonesia, represented by the SOE’e Ministry on behalf of shareholder.
3.t. Goodwill Goodwill merupakan selisih lebih yang tidak terindikasi antara biaya perolehan dengan nilai wajar aset bersih entitas anak pada saat perolehan (akuisisi).
3.t. Goodwill Goodwill represents the excess of which no indication of cost or fair value of net assets of subsidiary at acquisition.
Goodwill dicatat berdasarkan harga perolehan serta dilakukan penilaian secara periodik untuk mengetahui apakah terdapat bukti objektif terjadinya penurunan nilai.
Goodwill is recorded at cost and carried out periodic assessments to determine whether there is objective evidence of impairment.
3.u. Kepentingan Non Pengendali Bagian kepemilikan dari pemegang saham nonpengendali atas ekuitas dari Entitas Anak disajikan sebagai ”Kepentingan Non-Pengendali” dalam laporan posisi keuangan konsolidasian. Apabila akumulasi kerugian yang dibebankan kepada Kepentingan NonPengendali melebihi bagian pemegang saham nonpengendali dalam ekuitas Entitas Anak, kelebihan dari beban tersebut akan dibebankan kepada pemegang saham mayoritas dan tidak dicatat sebagai aset, kecuali apabila pemegang saham nonpengendali mempunyai liabilitas yang mengikat untuk menanggung beban tersebut dan pemegang saham non-pengendali mempunyai kemampuan untuk menanggung beban tersebut. Keuntungan yang diperoleh Entitas Anak setelahnya harus dialokasikan terlebih dahulu kepada pemegang saham mayoritas sampai dengan sama dengan beban kepentingan nonpengendali yang ditanggung oleh pemegang saham mayoritas.
3.u. Non Controlling Interest The interest of minority shareholders in the equity of Subsidiaries is presented as “Non Controlling Interest” in the consolidated statement of financial position. When cumulative loss attributable to Non Controlling interest exceeds the Non Controlling interest in the equity of Subsidiaries, the excess of expenses will be borne by the majority shareholders and is not recorded as an asset, unless the minority shareholders have a binding obligation to bear the expenses and the minority shareholders have the ability to bear the expenses. Income generated by the Subsidiaries in subsequent period shall be first allocated to the majority shareholders until being equal to the expenses of the non controlling interests borne by the majority shareholders.
3.v. Informasi Segmen Perusahaan menerapkan PSAK 5 (Revisi 2009): Segmen Operasi. Standar mengharuskan entitas untuk mengungkapkan informasi yang memungkinkan pengguna laporan keuangan untuk mengevaluasi sifat dan dampak keuangan dari aktivitas bisnis. Standar juga menyempurnakan definisi segmen operasi dan prosedur yang digunakan untuk mengidentifikasi dan melaporkan segmen operasi. Standar mengharuskan “pendekatan manajemen” dalam menyajikan informasi segmen menggunakan dasar yang sama seperti halnya pelaporan internal. Hal ini tidak menyebabkan tambahan penyajian segmen yang dilaporkan. Perusahaan mengoperasikan dan menjalankan bisnis melalui beberapa segmen operasi. Segmen operasi dilaporkan dengan cara yang konsisten dengan pelaporan internal yang disampaikan kepada pengambil keputusan operasional. Dalam hal ini pengambil keputusan operasional yang mengambil keputusan strategis adalah Direksi dan Kepala Divisi.
3.v. Segment Information The Company adopted PSAK 5 (Revised 2009): Operating Segments. Standard requires an entity to disclose information which enables users of financial statements to evaluate the nature and financial effects of business activity. Standards also refine the definition of operating segments and the procedures used to identify and report operating segments. Standard requires that "management approach" in the present segment information using the same base as well as internal reporting. This does not cause additional presentation of the reported segment. The Company operates and conducts business through a single segment with managing the existing network infrastructure. The segment reported operating in a manner consistent with internal reporting provided to operational decision-makers. In this case the operational decision-makers that strategic decisions are the Board of Directors and Head of Divisions.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Pembuat keputusan operasional adalah Dewan Direksi dan Kepala Divisi. Dewan Direksi dan Kepala Divisi menelaah pelaporan internal Perusahaan untuk menilai kinerja dan mengalokasikan sumber daya. Manajemen menentukan operasi segmen berdasarkan laporan ini.
Operational decision have made by the Board of Directors and Head of Divisions. Board of Directors and Head of Divisions review of the Company’s internal reporting to assess performance and allocate resources. Management determines the operating segments based on this report.
Informasi Pelaporan Segmen Usaha disajikan untuk menunjukkan hasil usaha per wilayah yang berasal dari Pendapatan Tol.
Reporting of business segment information is disclosed to show the results of operations per region derived from toll revenue.
3.w. Laba Bersih Per Saham Laba bersih per saham dihitung dengan membagi laba bersih yang dapat diatribusikan ke pemilik entitas induk dengan rata-rata tertimbang saham yang beredar selama tahun yang bersangkutan.
3.w. Earnings Per Share Net income per share is computed by dividing net income attributable to owner of the parent entity by weighted average shares outstanding during the concerned year.
Laba bersih per saham dilusian dihitung dengan membagi total laba tahun berjalan dengan rata-rata tertimbang jumlah saham biasa yang beredar pada periode pelaporan, yang disesuaikan untuk mengasumsikan konversi efek berpotensi saham biasa yang sifatnya dilutif.
Diluted earnings per share is calculated by dividing profit for the period with the weighted average number of ordinary shares outstanding during the reporting period, adjusted to assume conversion of all potential dilutive ordinary shares.
Laba bersih per saham masing-masing dihitung dengan membagi laba bersih dengan jumlah rata-rata tertimbang saham yang beredar pada tahun yang bersangkutan.
Earnings per share are calculated by dividing net income by the weighted average number of shares outstanding during the respective period.
3.x. Modal Saham Diperoleh Kembali Saham diperoleh kembali dicatat dengan menggunakan nilai perolehannya sebagai "Modal Saham yang Diperoleh Kembali" dan disajikan sebagai pengurang ekuitas pemegang saham. Harga pokok dari penjualan saham yang diperoleh kembali dicatat dengan menggunakan metode rata-rata tertimbang. Selisih antara harga perolehan kembali dan harga jual kembali saham dicatat sebagai "Tambahan Modal Disetor".
3.x. Treasury Stocks Treasury stocks is accounted for using the acquisition as the "Treasury Stocks" and presented as a deduction from shareholders' equity. Costs of sale of repurchased shares are accounted for using the weighted average method. Difference between the reacquisition price and the resale price of shares is recorded as "Additional Paid in Capital".
3.y. Penggunaan Estimasi Penyusunan laporan keuangan konsolidasian sesuai dengan prinsip akuntansi yang berlaku umum mengharuskan Manajemen untuk membuat estimasi dan asumsi yang mempengaruhi jumlah aset dan liabilitas pada tanggal laporan keuangan konsolidasian serta jumlah pendapatan dan beban selama tahun pelaporan. Nilai aset, liabilitas, pendapatan dan beban sebenarnya kemungkinan berbeda.
3.y. Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires the Management to make estimates and assumptions that affect the amounts of assets and liabilities at the reporting date and the reported amounts of revenues and expenses during the reporting year. The actual value of assets, liabilities, revenues and expenses may be different.
Penyusunan laporan keuangan konsolidasi sesuai dengan prinsip akuntansi yang berlaku umum mengharuskan Perusahaan membuat estimasi dan asumsi yang mempengaruhi jumlah aset dan kewajiban yang dilaporkan dan pengungkapan aset dan kewajiban kontinjensi pada tanggal laporan keuangan serta jumlah pendapatan dan beban selama periode pelaporan. Realisasi dapat berbeda dengan jumlah yang diestimasi. d1/March 24, 2013 306
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The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires the Company to make estimates and assumptions that affect amounts of assets and liabilities that are reported and disclosures of contingent assets and liabilities as at the reporting date of the financial statements, as well as the amounts of revenues and expenses during the reporting period. Actual realization could be different from these estimates. 33
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
4. Penyajian Kembali Laporan Keuangan
4.
Seperti yang dijelaskan dalam Catatan 2 atas laporan keuangan, sejak 1 Januari 2012, Grup telah menerapkan ISAK 16 tentang “Perjanjian Konsesi Jasa” dan ISAK 22 tentang “Perjanjian Konsesi Jasa - Pengungkapan” yang dilakukan secara retrospektif. Grup juga telah memenuhi semua ketentuan transisi dari pemberlakuan ISAK ini. Sesuai dengan PSAK 25 “Kebijakan Akuntansi, Perubahan Estimasi Akuntansi, dan Kesalahan”, maka Perusahaan telah menyajikan kembali laporan keuangan untuk tahun yang berakhir pada tanggal 31 Desember 2011 dan laporan posisi keuangan periode awal pelaporan 1 Januari 2011. Berikut ini adalah rincian akun-akun dalam laporan keuangan untuk tahun yang berakhir 31 Desember 2011 dan laporan posisi keuangan 1 Januari 2011/31 Desember 2010 sebelum dan sesudah disajikan kembali:
Laporan Posisi Keuangan Aset Tidak Lancar Aset Tetap - Hak Pengusahaan Jalan Tol Aset Tetap Selain Hak Pengusahaan Jalan Tol Aset Tetap Pemilikan Langsung Aset Tetap - Dalam konstruksi Biaya Pelapisan Ulang Ditangguhkan - Bersih Aset Pembiayaan Aset Takberwujud - Hak Pengusahaan Jalan Tol Aset Takberwujud Lainnya Aset Lain-lain Aset Pajak Tangguhan
Sebelum Disajikan Kembali/ Before Restatement Rp
Restatement of Financial Statements
As disclosed in Note 2 to the financial statements, effective January 1, 2012, the Group has adopted ISAK 16 "Service Concession Arrangements" and ISAK 22 "Service Concession Arrangements - Disclosure" and applied retrospectively. The Group also has followed all transitional provision regarding adoption of this ISAK. In accordance with PSAK 25 "Accounting Policies, Changes in Accounting Estimates and Errors", the Company has restated its financial statements for the year ended December 31, 2011 and the statements of financial position of the reporting period beginning at January 1, 2011. Following are details of the accounts in the financial statements for the year ended December 31, 2011 and the statements of financial position as of January 1, 2011/ December 31, 2010 before and after the restatement:
2011 Penyesuaian/ Adjustment Rp
Sesudah Disajikan Kembali/ After Restatement Rp
Statement of Financial Position Non Current Assets Fixed Assets - Toll Road Concession Rights Fixed Assets Other than Toll Road Concession Rights Direct Acquisition Assets Construction In Progress Deferred Overlay - Net Financial Lease Assets Intangible Assets - Toll Road Concession Rights Other Intangible Assets Other Assets Deferred Tax Assets
13,663,827,764
(13,663,827,764)
--
374,655,341 -1,907,419,226 646,483,304 ---440,238,984 102,191,338
374,655,341 344,674,274 (1,875,303,652) (646,483,304) 20,308,747 15,571,088,046 213,190,106 (105,234,261) (9,344,054)
-344,674,274 32,115,574 -20,308,747 15,571,088,046 213,190,106 335,004,723 92,847,284
500,431,781
108,489,260
608,921,041
489,979,112 -221,900,352
25,178,897 299,518,760 21,437,822
515,158,009 299,518,760 243,338,174
Current Liabilities Contractor Payables Non Current Liabilities Deferred Tax Liabilities Provision for Overlay Employee Benefits Liabilities
Ekuitas Saldo laba Kepentingan Non Pengendali
2,602,768,977 911,489,922
(888,320,012) 8,549,408
1,714,448,965 920,039,330
Equity Retained Earnings Non Controlling Interest
Laporan Laba Rugi Komprehensif Pendapatan Konstruksi Pendapatan Usaha Lainnya Beban Pengumpulan Tol Beban Pemeliharaan Jalan tol Beban Konstruksi Beban Umum Dan Administrasi Bagian Laba Bersih Entitas Asosiasi
-117,242,562 (623,663,449) (612,104,204) -(877,961,527) --
1,496,232,562 29,066,823 (4,856,268) (145,259,587) (1,483,262,077) (28,331,627) 110,658
1,496,232,562 146,309,385 (628,519,717) (757,363,791) (1,483,262,077) (906,293,154) 110,658
Statements of Comprehensive Income Construction Revenues Others Operating Revenues Toll Collection Expenses Toll Road Maintenance Expenses Construction Expenses General and Administrative Expenses Net Income from Associate Entities
Liabilitas Jangka Pendek Utang Kontraktor Liabilitas Jangka Panjang Liabilitas Pajak Tangguhan Provisi Biaya Pelapisan Jalan Tol Liabilitas Imbalan Kerja
Laba Tahun Berjalan Total Laba Komprehensif Tahun Berjalan
d1/March 24, 2013
1,318,824 1,321,582
(139,542) (141,082)
1,179,282 1,180,500
Income for The Year Total Comprehensive Income for The Year
34
Paraf: Constructing towards the Future
Annual Report 2012
307
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
Laporan Posisi Keuangan Aset Tidak Lancar Aset Tetap Hak Pengusahaan Jalan Tol Aset Tetap Selain Hak Pengusahaan Jalan Tol Aset Tetap Pemilikan Langsung Aset Tetap Dalam Konstruksi Biaya Pelapisan Ulang Ditangguhkan - Bersih Aset Sewa Guna Usaha Aset Takberwujud Hak Pengusahaan Jalan Tol Aset Takberwujud Lainnya Aset Lain-lain Aset Pajak Tangguhan
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Sebelum Disajikan Kembali/ Before Restatement Rp
Liabilitas Jangka Panjang Liabilitas Pajak Tangguhan Provisi Biaya Pelapisan Jalan Tol Ekuitas Saldo laba Kepentingan Non Pengendali
2010 Penyesuaian/ Adjustment
Sesudah Disajikan Kembali/ After Restatement Rp
Rp
10,100,448,190
(10,100,448,190)
--
226,905,341 -3,367,154,441 499,312,121 --
(226,905,341) 209,050,074 (3,347,801,519) (499,312,121) 69,407,134
-209,050,074 19,352,922 -69,407,134
--259,058,035 27,043,146
13,050,234,367 360,268,986 2,069,216 84,223,743
13,050,234,367 360,268,986 261,127,251 111,266,890
Statement of Financial Position Non Current Assets Fixed Assets Toll Road Concession Rights Fixed Assets Other than Toll Road Concession Rights Direct Acquisition Assets Construction In Progress Deferred Overlay - Net Financial Lease Assets Intangible Assets Toll Road Concession Rights Other Intangible Assets Other Assets Deferred Tax Assets
404,019,274 --
31,011,828 336,894,975
435,031,102 336,894,975
Non Current Liabilities Deferred Tax Liabilities Provision for Overlay
2,015,210,213 619,452,560
(745,173,576) 5,096,264
1,270,036,637 624,548,824
Equity Retained Earnings Non Controlling Interest
5. Kas dan Setara Kas
Kas Kas Kas Proyek Bank Pihak Berelasi PT Bank Mandiri (Persero) Tbk Rupiah USD PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank Tabungan Negara (Persero) Tbk
Pihak Ketiga PT Bank Jabar Banten Tbk PT Bank Jateng PT Bank Bukopin Tbk PT Bank Sumut PT Bank Perrnata Tbk PT Bank Central Asia Tbk PT Bank Jabar Banten Syariah PT Bank Jatim Tbk PT Bank Syariah Mandiri PT Bank OCBC NISP Tbk PT Bank Muamalat Indonesia Tbk PT Bank Panin Tbk
Total Kas dan Bank
d1/March 24, 2013 308
Annual Report 2012
Constructing towards the Future
5. 2012 Rp
2011 Rp
77,176,548 655,203 77,831,751
35,142,259 1,443,751 36,586,010
83,044,531 646,255 120,014,320 9,234,634 41,868 212,981,608
157,102,875 602,396 34,403,752 38,364,762
44,076,237 3,289,524 2,432,853 2,278,162 1,588,109 307,052 288,196 57,275 16,984 1,645 1,015
103,227,751 1,838,165 2,646,416 1,124,604 15,632,173 1,256,526
--
230,473,785
---
17,073 203,838
--
--
397 125,946,943 356,420,728 393,006,738
54,337,052 267,318,660 345,150,411
35
Cash and Cash Equivalents
Cash on Hand Cash Cash for Project Cash in Bank Related Parties PT Bank Mandiri (Persero) Tbk Rupiah USD PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank Tabungan Negara (Persero) Tbk
Third Parties PT Bank Jabar Banten Tbk PT Bank Jateng PT Bank Bukopin Tbk PT Bank Sumut PT Bank Permata Tbk PT Bank Central Asia Tbk PT Bank Jabar Banten Syariah PT Bank Jatim Tbk PT Bank Syariah Mandiri PT Bank OCBC NISP Tbk PT Bank Muamalat Indonesia Tbk PT Bank Panin Tbk
Total Cash on Hand and in Banks
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) 2012 Rp
2011 Rp
Time Deposits
Deposito Berjangka Pihak Berelasi PT Bank Rakyat Indonesia (Persero) Tbk Rupiah USD PT Bank Tabungan Negara (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk Pihak Ketiga PT Bank Jabar Banten Tbk PT Bank Bukopin Tbk PT Bank Jateng PT Bank Mega Syariah PT Bank Permata Tbk PT Bank CIMB Niaga Tbk PT Bank Muamalat Indonesia Tbk PT BPD Jawa Tengah PT Bank DKI PT Bank Tabungan Pensiunan Nasional PT Bank Pembangunan Daerah Bali PT Bank Jatim Tbk PT Bank Jatim Syariah PT Bank Mutiara PT Bank Mega Tbk PT Bank Sumut PT Bank OCBC NISP Tbk Total Deposito Berjangka Total Kas dan Setara Kas Deposito Berjangka Jatuh Tempo (Bulan) Tingkat Suku Bunga (%) Rupiah USD
Related Parties PT Bank Rakyat Indonesia (Persero) Tbk 714,900,000 10,637,000 493,000,000 462,200,000 416,536,000 2,097,273,000
752,900,000 9,974,800 622,856,849 636,500,000 613,826,040 2,636,057,689
625,790,000 541,365,616 195,050,000 92,000,000 75,500,000 72,000,000 67,353,459 55,500,000 46,900,000 45,000,000 20,000,000 18,000,000 3,000,000 2,500,000
187,600,000 64,100,000 74,530,302 10,052,438 48,562,600 48,500,000 91,389,315 58,500,000 49,500,000 7,175,000
----
----
1,859,959,075
3,022,500 49,000,000 43,000,000 12,009 734,944,164
3,957,232,075
3,371,001,853
4,302,382,487
3,764,008,591
1-3 3,5 - 8 1
Time Deposits Maturity Period (Mounth) Interest Rate (%) Rupiah USD
6. 2012 Rp
Short-term Investments
2011 Rp Marketable Securities Available for Sale
Efek Tersedia Untuk Dijual
d1/March 24, 2013
Total Time Deposits Total Cash and Cash Equivalents
Cash for projects represent cash on hand and in banks to finance expenditures related to maintenance and toll roads construction.
6. Investasi Jangka Pendek
Deposito Berjangka - Rupiah Subordinasi Bank Syariah Mandiri (BSM) Tahun 2007 Total Total
Third Parties PT Bank Jabar Banten Tbk PT Bank Bukopin Tbk PT Bank Jateng PT Bank Mega Syariah PT Bank Permata Tbk PT Bank CIMB Niaga Tbk PT Bank Muamalat Indonesia Tbk PT BPD Jawa Tengah PT Bank DKI PT Bank Tabungan Pensiunan Nasional PT Bank Pembangunan Daerah Bali PT Bank Jatim Tbk PT Bank Jatim Syariah PT Bank Mutiara PT Bank Mega Tbk PT Bank Sumut PT Bank OCBC NISP Tbk
1-3 7,5 - 9 2
Kas proyek merupakan uang tunai dan rekening giro yang tersedia untuk membiayai pemeliharaan dan pembangunan jalan tol.
Reksadana Mandiri Investa Dana Obligasi Seri II Kenaikan Nilai Aset Bersih Nilai Tercatat
Rupiah USD PT Bank Tabungan Negara (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk
4,529,650 3,292,094 7,821,744
---
7,821,744
4,529,650 2,758,078 7,287,728
Mutual Fund Mandiri Invesment - Bond II Series Increase in Net Assets Value Carrying Amount
31,500,000 31,500,000 38,787,728
Time Deposit - Rupiah Subordination Bank Syariah Mandiri (BSM) Year 2007 Total Total
36
Paraf: Constructing towards the Future
Annual Report 2012
309
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
7. Piutang Lain-lain
7. 2012 Rp
2011 Rp
Pihak Ketiga Pihak Berelasi
43,046,894 21,045,432
59,058,506 28,935,087
Third Parties Related Parties
Total
64,092,326
87,993,593
Total
Piutang usaha merupakan pendapatan yang akan diterima dari sewa lahan, sewa tempat istirahat, sewa ruang iklan, dan bunga yang akan diterima dari deposito berjangka
Accounts receivable represent revenues to be received from rent of land, rest areas, and advertisement spaces, and interest from time deposits.
8. Biaya Dibayar di Muka
8.
Merupakan biaya dibayar di muka atas perlengkapan tol serta uang muka perjalanan dinas, dan jaminan entitas anak untuk pembebasan tanah.
Prepaid Expenses
These represent prepaid toll supplies, advances for business travel, and subsidiary's collateral for land acquisition.
9. Perpajakan
9.
a. Pajak Dibayar di Muka
Taxation
a. Prepaid Taxes 2012 Rp
2011 Rp
Perusahan Entitas Anak
-1,291,131
293,755 3,671,709
The Company Subsidiaries
Total
1,291,131
3,965,464
Total
b. Utang Pajak
b. Tax Payable 2012 Rp
2011 Rp
Pajak Penghasilan
Income Tax
Pasal 21 Pasal 23 Pasal 29 Perusahaan Entitas Anak Pajak Penghasilan Final PPN Keluaran
50,338,143 2,858,898
28,214,979 1,948,074
173,307,920 274,841 22,722,005 31,873,364
21,507,937 38,693 8,942,441 23,882,013
Total
281,375,171
84,534,137
c. Beban Pajak Penghasilan
Perusahaan Pajak Kini Pajak Tangguhan
d1/March 24, 2013 310
Other Receivables
Annual Report 2012
Constructing towards the Future
Article 21 Article 23 Article 29 The Company Subsidiaries Final Income Tax VAT Out Total
c. Income Tax Expense 2012 Rp
2011 Rp
470,363,331 34,265,803 504,629,134
321,409,750 84,123,572 405,533,322
37
The Company Current tax Deferred Tax
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) 2012 Rp
Entitas Anak Pajak Kini Pajak Tangguhan Konsolidasian Pajak kini Pajak Tangguhan Total
2011 Rp
274,841 14,540,528 14,815,369
3,242,621 2,117,378 5,359,999
470,638,171 48,806,331 519,444,502
324,652,371 86,240,950 410,893,321
Pajak Kini Rekonsiliasi antara laba sebeIum pajak penghasilan menurut laporan laba rugi dengan laba kena pajak :
Perhitungan Pajak Penghasilan Perusahaan sebagai berikut Koreksi Positif (Negatif) atas Laba Komersial: Beban Pengumpulan Tol Pendapatan Konstruksi Beban Pelayanan Pemakai Jalan ToI Beban Pemeliharaan Jalan Tol Beban Konstruksi Beban Umum dan Administrasi Beban Lainnya Bersih Pajak Tangguhan Bagian Rugi (Laba) Perusahaan Asosiasi Penyusutan Aset Tetap, Pelapisan Ulang, dan Amortisasi Biaya Emisi Obligasi Tantiem Beban Bunga Penghasilan Dikenakan Pajak Final Biaya Perolehan Penghasilan Dikenakan Pajak Final Kewajiban Imbalan Kerja Beban Piutang Karyawan Beban Bunga Efektif Interest Rate Realisasi Pembayaran Tantiem 2011 Amortisasi Lisensi
Consolidated Current Tax Deffered Tax Total
Current Tax A reconciliation between income before income tax as reported in the statements of income and taxable income is as follows :
2012 Rp Laba Konsolidasian Sebelum Pajak Penghasilan Badan Dikurangi: Rugi Entitas Anak Laba Sebelum Pajak Penghasilan - Perusahaan
Subsidiaries Current tax Deferred Tax
2011 Rp
2,055,256,702 (51,462,662) 2,106,719,364
1,590,175,158 (176,621,826) 1,766,796,984
11,822,184 (241,918,473) 5,864,490 1,922,546 241,651,582 39,102,722 33,296,866 -93,652,438
5,279,103 -3,495,776 511,464 -55,729,784 7,247,123 -27,338,862
(169,304,053) 19,430,000 90,906,859 (384,034,512) 4,039,768 -32,240,841 1,795,760 4,578,090 (12,000,000) 1,686,851
(362,639,194) 14,471,935 32,556,507 (269,122,745) 6,065,628 26,144,907 -3,564,558 (10,000,000)
Consolidated Income Before Tax Less: Portion of Subsidiaries Income income Before Tax - The Company Calculation of Income Tax the Company as Positive (Negative)Corrections on Commercial Income: Toll Road Collection Expenses Construction Revenues Toll Road Services Expenses Maintenance Cost of Toll Road Construction Expenses General and Administrative Expenses Net-Other Expenses Portion of Associate Companies Income Depreciation of Fixed Assets, Bond Issuance Cost and Amortization of Overlay Charges Tantiem Interest Expenses Income Subject to Final Tax Acquisition Cost of Income Subject to Final Tax Employee Benefits Obligation Employee Receivable Expense Effective Rate Interest Expenses Realization of Payment Bonuses 2009 License Amortization
Total
(225,266,041)
(459,356,292)
Total
Laba Kena Pajak
1,881,453,323
1,285,639,000
Taxable Income
d1/March 24, 2013
38
Paraf: Constructing towards the Future
Annual Report 2012
311
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) 2012 Rp
2011 Rp
Beban Pajak pada tarif Pajak yang Berlaku 25%x Rp 1.881.453.323 - Tahun 2012 25%x Rp 1.285.639.000 - Tahun 2011
470,363,331 --
-321,409,750
Tax Expense at Prevailing Tax Rate 25% x Rp 1,881,453,323 - Year 2012 25% x Rp 1,285,639,000 - Year 2011
Beban Pajak Kini
470,363,331
321,409,750
Current Tax Expense
331,565 296,723,846 297,055,411
293,755 299,608,058 299,901,813
173,307,920 274,481 173,582,401
21,507,937 38,693 21,546,630
Dikurangl: Uang Muka Pajak Pajak Penghasilan Pasal 23 Pajak Penghasilan Pasal 25 Total Kurang (lebih) Bayar Pajak Penghasilan Perusahaan Entitas Anak Total Utang Pajak - Konsolidasian
Pajak Tangguhan Pajak tangguhan dihitung berdasarkan pengaruh dari perbedaan temporer antara jumlah tercatat aset dan liabilitas menurut laporan keuangan dengan dasar pengenaan pajak aset dan liabilitas. Rincian aset dan liabilitas pajak tangguhan sebagai berikut: 1 Jan 2011/ Jan 1, 2011
Kewajiban (Aset) Pajak Tangguhan / Deferred tax Liabilities (Assets) Perusahaan /Company Penyusutan Aset Tetap/ Depreciation of Fixed Assets Amortisasi Pelapisan ulang / Amortization of Overlay Cost Kewajiban Imbalan Kerja/ Employee Benefits Obligation Jumlah / Total Entitas Anak /Subsidiaries Penyusutan Aset Tetap/ Depreciation of Fixed Assets Kewajiban Imbalan Kerja/ Employee Benefits Obligation Rugi Fiskal/Loss on Fiscal Total Kewajiban Pajak Tangguhan Konsolidasi / Consolidated Deferred Tax Liability
d1/March 24, 2013 312
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Constructing towards the Future
Rp
Less: Prepaid Taxes Income Tax Article 23 Income Tax Article 25 Total Less (excess) Payment Income Tax The Company Subsidiaries Consolidated Income Tax Payable
Deferred Tax Deferred tax is calculated using all temporary differences between tax bases of assets and liabilities and their carrying amounts in the financial statements. The details of deferred tax assets and liabilities are as follows:
Dibebankan ke Laba Rugi/ Charge to Statements of Income Rp
31 Des. 2011 / Dec 31, 2011 Rp
Dibebankan ke Laba Rugi/ Charge to Statements of Income Rp
31 Des. 2012 / Dec 31, 2012 Rp
364,316,180
99,138,015
463,454,195
45,225,483
508,679,678
13,829,278
2,393,944
16,223,222
(7,450,597)
8,772,625
(48,214,585) 329,930,873
(7,033,634) 94,498,325
(55,248,219) 424,429,198
(8,060,210) 29,714,676
(63,308,429) 454,143,874
(404,187)
--
(404,187)
14,540,528
14,136,341
(2,129,582) (3,632,892) (6,166,661)
4,048,187 4,048,187
--
(2,129,582) 415,296 (2,118,473)
---
14,540,528
(2,129,582) 415,295 12,422,054
323,764,212
98,546,512
422,310,725
44,255,204
466,565,928
39
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Rekonsiliasi antara beban pajak penghasilan dan hasil perkalian laba akuntansi sebelum pajak penghasilan dengan tarif pajak yang berlaku sebagai berikut
Laba Sebelum Pajak Penghasilan Perusahaan Beban Pajak pada Tarif yang Berlaku 25% x Rp 2.106.719.363 - Tahun 2012 25% x Rp.1.744.828.897 - Tahun 2011 Total Beban Pengumpulan Tol Pendapatan Konstruksi Beban Pelayanan Pemakai Jalan Tol Beban Pemeliharaan Jalan Tol Beban Konstruksi Beban Umum dan Administrasi Beban Lainnya Pajak Tangguhan Bagian Laba Perusahaan Asosiasi Penyusutan Aset Tetap, Pelapisan Ulang, dan Amortisasi Biaya Emisi Obligasi Tantiem Beban Bunga Penghasilan Dikenakan Pajak Final Biaya Perolehan Penghasilan Dikenakan Pajak Final Kewajiban Imbalan Kerja Beban Piutang Karyawan SE 16/99 Beban Bunga Efektif Interest Rate Realisasi Pembayaran Tantiem Total Beban Pajak - Perusahaan Beban Pajak - Entitas Anak Total Beban Pajak – Konsolidasi
The reconciliation between income tax expense and the result of the multiplication of accounting income before income tax with the current tax rate is as follows :
2012 Rp
2011 Rp 1,766,796,984 -441,699,246 441,699,246
2,955,546 (60,479,618) 1,466,122 480,636 60,412,895 9,775,680 8,599,056 421,712 23,413,109
1,319,750 -874,000 127,750 -1,811,750 14,066,500 -8,991,375
(42,326,013) 4,857,500 22,726,719 (96,008,628)
(90,659,750) 3,618,000 8,139,250 (67,280,750)
1,009,941 8,060,210 448,940 1,144,523 (3,000,000) (56,041,670)
1,516,500 6,536,500 -891,250 (2,500,000) (114,797,500)
Toll Road Collection Expenses Construction Revenue Toll Road Services Expenses Toll Road Maintenance Expenses Construction Expenses General and Administrative Expenses Other Expenses Deferred Tax Profit on Associate Companies’ Net Income Depreciation of Fixed Asset, Amortization of Overlay Charges, and Bond Issuance Cost Bonuses Interest Expenses Income Subject to Final Tax Acquisition Cost of Income Subject to Final Tax Employee Benefits Obligation Employee Receivable Expense Effective Rate Interest Expenses Actual Payment Tantiem Total
470,638,171 48,806,331 519,444,502
324,652,371 86,240,950 410,893,321
Tax Expenses - the Company Tax Expense - Subsidiaries Total of Tax Expenses – Consolidation
10. Dana Ditetapkan Penggunaannya
10. Appropriated Funds
Perusahaan membentuk penyisihan dana untuk jaminan pelunasan bunga obligasi dan bunga pinjaman bank yang akan jatuh tempo sebagai berikut:
Obligasi Jasa Marga XI seri P Jaminan Kredit PT Bank Mandiri (Persero)Tbk. Jaminan Pembebasan Tanah PT Bank Jabar Banten Tbk PT Bank UOB Indonesia PT Bank Bukopin Tbk PT Bank Mandiri (Persero) Tbk
d1/March 24, 2013
Income BeforeTax the Company Current Tax Rate: 25% x Rp. 2,106,719,363 - Year 2012 25% x Rp. 1,744,828,897 - Year 2011 Total
2,106,719,364 526,679,841 -526,679,841
The Company made provision of funds to guarantee payment of bank loan interest and bond interest with the following details:
2012 Rp
2011 Rp
32,500,000
32,500,000
--
4,500,000
68,820,370 15,500,000 11,250,000 6,723,370
555,259
---
7,644,985
Jasa Marga Bond XI, P Series Loan Guarantees PT Bank Mandiri (Persero)Tbk Land Acquisition PT Bank Jabar Banten Tbk PT Bank UOB Indonesia PT Bank Bukopin Tbk PT Bank Mandiri (Persero)Tbk
40
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Annual Report 2012
313
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) 2012 Rp
Jaminan Sindikasi Bank PT Bank Mandiri (Persero), Tbk PT Bank Jateng Total
2011 Rp
30,141,000 109,937
---
Syndicated Bank Guarantee PT Bank Mandiri (Persero), Tbk PT Bank Jateng
165,044,677
45,200,244
Total
Obligasi Jasa Marga XI Seri P Tahun 2003
Jasa Marga Bond XI Series P of 2003
Berdasarkan Akta Perjanjian Perwaliamanatan Obligasi No.6 tanggal 19 Agustus 2003 yang diubah dengan Akta Addendum I Perjanjian Perwaliamanatan No.24 tanggal 25 September 2003 juncto Akta Addendum I Perjanjian Penjaminan Emisi Obligasi No.26 tanggal 25 September 2003 dari Notaris Julius Pumawan, SH, Msi, juncto Berita Acara Rapat Umum Pemegang Obligasi No.22, tanggal 7 Oktober 2004 dari Notaris Poerbaningsih Adi Warsito, SH, Perusahaan diwajibkan membentuk penyisihan dana untuk jaminan pelunasan bunga sebesar Rp 32.500.000.000 (Rupiah penuh) setiap triwulan pada Januari, April, Juli, dan Oktober, selambat-lambatnya dua minggu sebelum tanggal pembayaran bunga obligasi.
Based on the Deed of Bond Trustee Agreement No.6 dated August 19, 2003 as amended by the Deed of Addendum of Trustee Agreement No. 24 dated September 25, 2003 in conjunction with the Deed of Addendum I of Bond Underwriting Agreement No.26 dated September 25, 2003 of Notary Julius Pumawan, SH, Msi, in conjunction with the Minutes of the General Meeting of Bondholders No.22 dated October 7, 2004 of Notary Poerbaningsih Adi Warsito, SH, the Company is required to form a sinking fund to guarantee payment of interest amounting to Rp 32,500,000,000 (full Rupiah) every quarter in January, April, July, and October, no later than two weeks before the date of the bond interest payment.
11. Investasi pada Entitas Asosiasi
11. Invesment in Associates
Perusahaan memiliki penyertaan saham pada entitas asosiasi dengan metode ekuitas. Nilai tercatat penyertaan saham tersebut sebagai berikut: Perusahan Asosiasi/ Associated Company
PT Citra Bhakti Margatama Persada (CBMP) PT Citra Ganesha Marga Nusantara (CGMN) PT Jatim Marga Utama (JMU) PT lsmawa Trimitra (IT) PT Bukaka Marga Utama (BMU) PT Jakarta Lingkar Barat Satu PT Trans Lingkar Kita Jaya (TLKJ)
Status
Pengakhiran PKP/ Termination of Concession Pengakhiran PKP/ Termination of Concession Belum Operasi/ Not Yet Operated Operasi/Operate Belum Operasi/ Not Yet Operated Belum Operasi/ Not Yet Operated Operasi/Operate
Persentase Kepemilikan/ Percentage Ownership
The Company has investments in associate entities accounted for using the equity method. The carrying values of such investment in shares are as follows: 2012 Nilai Tercatat Penyertaan Awal Tahun/ Carrying Value at Beginning of Year
d1/March 24, 2013 Annual Report 2012
Constructing towards the Future
Nilai Tercatat Penyertaan Akhir Tahun/ Carrying Value at end of Year
34.83
56,787,000
--
--
--
56,787,000
30.00
16,914,266
--
--
--
16,914,266
26.00 25.00
12,858,000 7,431,816
---
-873,992
---
12,858,000 8,305,808
20.00
9,436,000
--
--
--
9,436,000
18.05 21.24
180,632,000
(180,632,000) 159,288,577 (21,343,423)
-(4,707,296) (3,833,304)
----
154,581,281 258,882,355
--
284,059,082
Dikurangi/Deducted Penurunan Nilai/ Impairment of Investment in CBMP Penurunan Nilai/ Impairment of Investment in CGMN Penurunan Nilai/ Impairment of Investment in BMU Total
314
Perubahan Selama Periode Berjalan/ Changes in Current Period Penambahan Bagian Laba Penerimaan (Pengurangan) (Rugi) Bersih/ Deviden/ Penyertaan/ Portion in Dividen Additions Net Profit Received (Deduction) (Loss) of Investment
41
--
(56,786,999)
(56,786,999)
(16,914,265)
(16,914,265)
(9,435,999) (83,137,263) 200,921,819
(9,435,999) (83,137,263) 175,745,092
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) Perusahan Asosiasi/ Associated Company
PT Citra Bhakti Margatama Persada (CBMP) PT Citra Ganesha Marga Nusantara (CGMN) PT Jatim Marga Utama (JMU) PT lsmawa Trimitra (IT) PT Bukaka Marga Utama (BMU) PT Jakarta Lingkar Barat Satu (JLB)
Status
Pengakhiran PKP/ Termination of Concession Pengakhiran PKP/ Termination of Concession Belum Operasi/ Not Yet Operated Operasi/Operate Belum Operasi/ Not Yet Operated Belum Operasi/ Not Yet Operated
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) Persentase Kepemilikan/ Percentage Ownership
2011 Nilai Tercatat Penyertaan Awal Tahun/ Carrying Value at Beginning of Year
Perubahan Selama Periode Berjalan/ Changes in Current Period Penambahan Bagian Laba Penerimaan (Pengurangan) (Rugi) Bersih/ Deviden/ Penyertaan/ Portion in Dividen Additions Net Profit Received (Deduction) (Loss) of Investment
Nilai Tercatat Penyertaan Akhir Tahun/ Carrying Value at end of Year
34.83
56,787,000
--
--
--
56,787,000
30.00
16,914,266
--
--
--
16,914,266
30.00 25.00
12,858,000 7,780,892
(459,734)
110,658
--
12,858,000 7,431,816
20.00
9,436,000
--
--
--
9,436,030
23.00
180,632,000 284,408,158
--
--
--
(459,734)
110,658
284,059,082
180,632,000 284,059,082
Dikurangi/ Deducted Penurunan Nilai/ Impairment of Investment in CBMP Penurunan Nilai/ Impairment of Investment in CGMN Penurunan Nilai/ Impairment of Investment in BMU Total
(56,786,999)
(56,786,999)
(16,914,265)
(16,914,265)
(9,435,999) (83,137,263) 201,270,895
(9,435,999) (83,137,263) 200,921,819
a. PT Citra Bhakti Margatama Persada (CBMP) PT Citra Bhakti Margatama Persada didirikan berdasarkan Akta No. 50, tanggal 11 Desember 1995 dari Notaris Siti Pertiwi Henny Singgih, SH. Penyertaan CBMP dilakukan sehubungan dengan pada penyelenggaraan proyek jalan tol JORR Seksi E2-E3- N (Cikunir-Cakung-Cilincing-Tanjung Priok) untuk jangka waktu 33 tahun yang berakhir pada tahun 2028, Perusahaan memiliki 56.787.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 56.787.000.000 (Rupiah penuh) yang merupakan 34,83% kepemilikan.
a. PT Citra Bhakti Margatama Persada (CBMP) PT Citra Bhakti Margatama Persada was established based on the Deed No.50, dated December 11, 1995 of Notary Siti Pertrwi Henny Singgih, SH. The investment in CBMP was made in relation to the construction and operation of JORR toll road Section E2-E3-N (CikunirCakung-Cilincing-Tanjung Priok) for a period of 33 years ending in 2028. The Company owns 56,787,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 56,787,000,000 (full Rupiah), representing 34.83% ownership.
Pembangunan jalan tol oleh CBMP dibiayai dari fasilitas pinjaman sindikasi bank. Krisis ekonomi telah menyebabkan ketidakpastian terhadap kemampuan CBMP dalam menyelesaikan kewajibannya pada saat jatuh tempo dan dalam merealisasikan fasilitas pinjaman untuk pembiayaan jalan tol tahap konstruksi. Restrukturisasi perbankan yang dilakukan terhadap sebagian dari kreditur CBMP telah mengakibatkan penghentian pelaksanaan pembangunan jalan tol. Adanya surat Perusahaan kepada CBMP No. AA.02.1009 tanggal 25 JuIi 2000 mengenai pengakhiran PKP No.96 tanggal 16 Desember 1995 mengakibatkan penyertaan Perusahaan pada entitas asosiasi ini tidak memiliki nilai ekonomis. Perusahaan mengakui kerugian penurunan nilai penyertaan saham pada CBMP pada tahun 2000 sebesar Rp 56.786.999.000 (Rupiah penuh).
Toll road construction by CBMP was financed by loan facilities from a banking syndicate. The economic crisis created uncertainty of the ability of CBMP to settle its liabilities at the maturity date and in using the loan facilities to finance the toll road construction progress. A banking restructuring conducted by certain of CBMP’s creditors resulted in the stoppage of toll road construction. The Company issued Letter No. AA.02.1009, dated July 25, 2000 to CBMP regarding the termination of the Concession Agreement No. 96, dated December 16, 1995. As a consequence of this termination the Company’s investment in the associate company has no economic value. The Company has recognized loss on impairment of the investment shares of CBMP in 2000 amounting to Rp 56,786,999,000 (full Rupiah).
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
b. PT Citra Ganesha Marga Nusantara (CGMN) PT Citra Ganesha Marga Nusantara didirikan berdasarkan Akta No. 300, tanggal 22 Desember 1993 dari Notaris Siti Pertiwi Henny Singgih, SH, juncto Akta No. 67, tanggal 7 Juli 1994 dari Notaris Sri Laksmi Damayanti, SH. Penyertaan pada CGMN dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Cikampek–Padalarang. Perusahaan memiliki 5.310 saham dengan nilai nominal Rp 1.841.000 (Rupiah penuh) per saham atau setara dengan Rp 9.775.710.000 (Rupiah penuh) yang merupakan 30% kepemilikan.
b. PT Citra Ganesha Marga Nusantara (CGMN) PT Citra Ganesha Marga Nusantara was established based on the Deed No. 300, dated December 22, 1993, of Notary Siti Pertiwi Henny Singgih, SH, in conjunction with the Deed No. 67, dated July 7, 1994 of Notary Sri Laksmi Damayanti, SH. The investment in CGMN was made in relation to the construction and operation of the Cikampek – Padalarang toll road project. The Company owns 5,310 shares at par value of Rp 1,841,000 (full Rupiah) per share or equivalent to Rp 9,775,710,000 (full Rupiah) representing 30% ownership.
Berdasarkan surat Menteri Pekerjaan Umum Republik Indonesia No. KU.201-Mn/68 tanggal 4 Maret 1996 dan surat Menteri Keuangan Republik Indonesia No. 1562/A/52/0496 tanggal 18 April 1996, Perusahaan memperoleh pengalihan Intelectual Property Rights (IPR) dalam bentuk disain proyek jalan tol Cikampek – Padalarang sebesar UK Poundsterling 4.700.000 atau setara dengan Rp 16.914.266.000 (Rupiah penuh) sebagai Tambahan Modal Disetor Pemerintah pada Perusahaan (lihat Catatan 32). Selanjutnya, Perusahaan mengalihkan IPR tersebut kepada CGMN sebagai penyertaan saham Perusahaan di CGMN. Berdasarkan perjanjian usaha patungan antara Perusahaan dengan CGMN, IPR tersebut dinilai setara dengan USD 8.530.000. Berdasarkan Keputusan Rapat Umum Pemegang Saham Luar Biasa CGMN tanggal 10 Juli 1998 mengenai Peningkatan Modal Disetor, kepemilikan saham pada CGMN sejumlah 8.530 saham dengan nilai nominal USD 8.530.000 atau setara dengan Rp 16.914.266.000 (Rupiah penuh).
Based on the Decree of the Minister of Public Works of the Republic of Indonesia No. KU.201-Mn/68 dated March 4, 1996 and the Letter of the Minister of Finance of the Republic of Indonesia No. 1562/A/52/0496 dated April 18, 1996, the Company obtained a transfer of “Intelectual Property Rights (IPR)” in the form of project design of Cikampek – Padalarang toll road amounting to Great Britain Poundsterling 4,700,000 or equivalent to Rp 16,914,266,000 (full Rupiah) as Additional Paid up Capital from the Government to the Company (see Note 32). The Company then transferred the IPR to CGMN as an investment by the Company in CGMN. Based on the joint venture agreement between the Company and CGMN, the IPR was valued equal to USD 8,530,000. According to the decision of the Extraordinary General Meeting of Shareholders held by CGMN on July 10, 1998 regarding the increase in paid up capital, the Company owns 8,530 shares at par value of USD 8,530,000 or equal to Rp 16,914,266,000 (full Rupiah).
Berdasarkan surat Perusahaan kepada CGMN No. AA.HK01.1273 tanggal 25 Juli 2001 mengenai pengakhiran PKP No. 297 sebagai tindak lanjut dari Surat Keputusan Menteri Pemukiman dan Prasarana Wilayah Republik Indonesia (Menkimpraswil) No. 417, tanggal 18 Juli 2001 mengenai pencabutan Keputusan Menteri Pekerjaan Umum Republik Indonesia No. 321/KPTS/1994, tanggal 24 Oktober 1994 mengenai Pemberian Izin Kerjasama Penyelenggaraan Jalan Tol Cikampek – Padalarang kepada Perusahaan dalam bentuk usaha patungan dengan CGMN mengakibatkan penyertaan Perusahaan pada entitas asosiasi ini tidak memiliki nilai ekonomis. Perusahaan mengakui kerugian penurunan nilai penyertaan saham pada CGMN sebagai beban tahun 2001 sebesar Rp 16.914.266.000 (Rupiah penuh).
On July 25, 2001, by the Company’s Letter No. AA.HK01.1273 to CGMN regarding termination of the Concession Agreement No. 297 in order to implement the Decree of the Minister of Settlement and Regional Infrastructure of the Republic of Indonesia No. 417 dated July 18, 2001 regarding cancellation of the Decree of the Minister of Public Works of the Republic of Indonesia No. 321/KPTS/1994 dated October 24,1994 regarding the Granting of license to Concession Agreement to the Company to operate the Cikampek – Padalarang toll road in the form of a joint venture with CGMN. Due to such termination, the investment in CGMN has no economic value. The Company recognized loss on the permanent impairment of this investment in shares of CGMN as an expense in 2001 amounting to Rp 16,914,266,000 (full Rupiah).
c. PT Jatim Marga Utama (JMU) PT Jatim Marga Utama didirikan berdasarkan Akta No. 25, tanggal 27 Desember 2002 dari Notaris Rosida, SH. Perusahaan memiliki 12.858 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 12.858.000.000 (Rupiah penuh) yang merupakan 30% kepemilikan.
c. PT Jatim Marga Utama (JMU) PT Jatim Marga Utama was established based on the Deed No. 25, dated December 27, 2002 of Notary Rosida, SH. The Company owns 12,858 shares at a par value of Rp 1,000,000 (full Rupiah) per share or equivalent to Rp 12,858,000,000 (full Rupiah), representing 30% ownership.
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Annual Report 2012
Constructing towards the Future
43
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
JMU merupakan perusahaan patungan antara Perusahaan dan Pemerintah Daerah Jawa Timur. Perusahaan patungan ini didirikan dengan maksud untuk meneruskan kelanjutan proyek jalan tol Surabaya — Mojokerto yang telah terhenti setelah Menkimpraswil mencabut izin konsesi yang diberikan kepada PT Marga Nujyasumo Agung (MNA) melalui surat Menkimpraswil No.418/KPTS/M/2001 tanggal 18 Juli 2001. Setelah Mahkamah Agung menolak pengajuan Peninjauan Kembali dari Menkimpraswil pada 31 Maret 2005, maka hak penyelenggaraan jalan tol dikembalikan kepada MNA. Sebagai akibatnya, JMU tidak lagi terlibat dalam proyek jalan tol tersebut. Pada 8 Mei 2007, JMU ikut serta dalam penyertaan saham PT Trans Marga Jatim Pasuruan (TMJP) untuk proyek jalan tol Gempol Pasuruan dengan kepemilikan sebesar 20%.
JMU is a joint venture company with Local Government of East Java. This company was established in order to resume construction of the Surabaya — Mojokerto toll road project that was suspended after the Minister of Settlement and Regional Infrastructure cancelled the concession granted to PT Marga Nujyasumo Agung (MNA) as stated in his Letter No.418/KPTS/M/2001 dated July 18, 2001. After the Supreme Court refused the application for Judicial Review of Minister of Settlement and Regional Infrastructure, dated March 31, 2005, the concession rights have been returned to MNA. As a result JMU is not involved in such toll road project. On May 8, 2007, JMU participated in investment in shares of PT Trans Marga Jatim Pasuruan (TMJP) to develop toll road project of Gempol Pasuruan, with ownership of 20%.
d. PT Ismawa Trimitra (IT) PT Ismawa Trimitra didirikan dengan Akta No.70, tanggal 14 Juni 1995 juncto Akta No. 58, tanggal 15 Nopember 1995 dari Notaris Imas Fatimah, SH. IT bergerak di bidang properti, perdagangan, dan keagenan. Penyertaan pada IT dilakukan sehubungan dengan persewaan gedung kantor berlokasi di Jl. lskandarsyah, Jakarta. Perusahaan memiliki 6.250.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau sebesar Rp 6.250.000.000 (Rupiah penuh) yang merupakan 25% kepemilikan. PT IT bergerak dalam bidang usaha persewaan gedung kantor yang berlokasi di Jl. Iskandarsyah, Jakarta.
d. PT Ismawa Trimitra (IT) PT Ismawa Trimitra was established based on the Deed No.70, dated June 14, 1995 in conjunction with the Deed No.58, dated November 15, 1995 of Notary Imas Fatimah, SH. IT is engaged in property, trading, and agency. The investment in IT was made in relation to the rental of an office building located at JI. Iskandarsyah, Jakarta. The Company owns 6,250,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 6,250,000,000 (full Rupiah), representing 25% ownership. PT IT leases the office building space located at Jl. Iskandarsyah, Jakarta.
e. PT Bukaka Marga Utama (BMU) PT Bukaka Marga Utama didirikan berdasarkan Akta No. 5 tanggal 17 Pebruari 1997 dari Notaris Sri Rahayu Sedyono, SH. Penyertaan pada BMU dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Ciawi-Sukabumi. Perusahaan memiliki 4,000 saham dengan nilai nominal Rp 2.359.000 (Rupiah penuh) per saham atau setara dengan Rp 9.436.000.000 (Rupiah penuh) yang merupakan 20% kepemilikan.
e. PT Bukaka Marga Utama (BMU) PT Bukaka Marga Utama was established based on the Deed No. 5 dated February 17, 1997 of Notary Sri Rahayu Sedyono, SH, The investment in BMU was made in relation to the construction and operation of the Ciawi-Sukabumi toll road project. The Company owns 4,000 shares at par value Rp 2,359,000 (full Rupiah) per share or equivalent to Rp 9,436,000,000 (full Rupiah), representing of 20% ownership.
Pemegang saham mayoritas BMU tidak dapat memberi kepastian atas pembangunan ruas jalan tol yang telah disetujui sesuai dengan PKP. Perusahaan mengakui kerugian penurunan nilai atas penyertaan saham pada BMU sebagai beban tahun 2005 sebesar Rp 9.435.999.000 (Rupiah penuh).
Since the majority shareholders of BMU could not give assurance regarding the toll road development as agreed under the Concession Agreements, the Company recognized the loss on impairment of this investment as an expense in 2005 amounted to Rp 9,435,999,000 (full Rupiah).
f. PT Trans Lingkar Kita Jaya (TLKJ) PT Trans Lingkar Kita Jaya merupakan perusahaan patungan antara Perusahaan, PT Transindo Karya Investama dan PT Kopnatel Jaya. TLKJ didirikan berdasarkan Akta No. 05, tanggal 27 Maret 2008 dari Notaris Doddy Rajasa Waluyo, SH, dengan modal dasar sebesar Rp 420.000.000.000 (Rupiah penuh), dan telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia No. AHU.25976.AH.01.02 Tahun
f. PT Trans Lingkar Kita Jaya (TLKJ) PT Trans Lingkar Kita Jaya is a joint venture corporation between PT Jasa Marga (Persero) Tbk, PT Transindo Karya Investama and PT Kopnatel Jaya. TLKJ was established based on the Deed No. 05, dated March 27, 2008 by Notary Doddy Rajasa Waluyo, SH, with authorized capital amounting to Rp 420,000,000,000 (full Rupiah) and has been approved by Minister of Law and Human Rights of the Republic of Indonesia No.
d1/March 24, 2013
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Paraf: Constructing towards the Future
Annual Report 2012
317
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
2008, tanggal 16 Mei 2005 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 85 tambahan No. 20692 tanggal 21 Oktober 2008. TLKJ berdomisili di Depok. Berdasarkan Akta No. 18, tanggal 6 Agustus 2012 dari Notaris Ir. Nanette Cahyanie Handari Adi Warsito, SH., Perusahaan memiliki 110.448 lembar saham yang setara dengan 21,24% kepemilikan.
AHU.25976.AH.01.02 Tahun 2008, dated May 16, 2005 and annouced in State Gazette No. 85 addition No. 20692 dated October 21, 2008. TLKJ locates in Depok. Based on the Deed No. 18, dated August 6, 2012, by Notary Ir. Nanette Cahyanie Handari Adi Warsito, SH, the Company owns 110.448 shares representing 21.24% ownership.
12. Aset Keuangan Lainnya
12. Other Financial Assets
Perusahaan memiliki penyertaan saham yang dikategorikan sebagai aset keuangan tersedia untuk di jual yang dicatat sebagai harga perolehan sebagai berikut Perusahaan/ Company PT Citra Marga Nusaphala Persada (CMNP) PT Marga Mandala Sakti (MMS) PT Citra Margatama Surabaya (CMS) PT Marga Nurindo Bhakti (MNB)
PT Margabumi Matraraya (MBM) PT Citra Mataram Satriamarga Persada (CMSP)
PT Margaraya Jawa Tol (MJT) PT Bosowa Marga Nusantara (BMN) PT Marga Mawatindo Esprit (MME)
PT Margabumi Adhika Raya (MAR)
PT Marga Net One Limited (MNOL)
PT Jakarta Lingkar Barat Satu (JLB)
The Company has investment in shares categorized as financial asset available-for-sale that accounted for at cost which detail as follow:
Status/ Status Operasi/ Operate Operasi/ Operate Operasi/ Operate Pengakhiran PKP/ Termination of Concession Operasi/ Operate Pengakhiran PKP/ Termination of Concession Belum Operasi/ Not Yet Operated Operasi/ Operate Pengakhiran PKP/ Termination of Concession Pengakhiran PKP/ Termination of Concession Pengakhiran PKP/ Termination of Concession Operasi/ Operate
Perusahaan Anak/Subsidiary - JLJ PT Translingkar Kita Jaya (TLKJ)
Operasi/ Operate
Total
2012 Rp
2011 Rp
%
--
%
28,000,000 20,000,000
1.94 5.26
--
40,822,500 28,000,000 20,000,000
4.08 1.94 5.26
9,500,000 5,500,000
10,00 6.47
9,500,000 5,500,000
10,00 6.47
4,725,000
15,00
4,725,000
15,00
4,143,438 3,332,000
2.47 1.47
4,143,438 3,332,000
2.47 1.47
2,780,862
8.33
2,780,862
8.33
2
0.00
2
0.00
15,291 180,632,000 258,628,593
10,00 19.10
15,291
10,00
--
0.00
--
118,819,093
13,000,000
258,628,593
131,819,093
(9,499,999)
(9,499,999)
(4,724,999)
(4,724,999)
(2,780,861)
(2,780,861)
(15,290) (17,021,149)
(15,290) (17,021,149)
241,607,444
114,797,944
Dikurangi/Deducted: Penurunan Nilai Penyertaan pada MNB/ Impairment of Investment in MNB Penurunan Nilai Penyertaan pada CMSP/ Impairment of Investment in CMSP Penurunan Nilai Penyertaan pada MME/ Impairment of Investment in MME Penurunan Nilai Penyertaan pada MNOL/ Impairment of Investment in MNOL Total
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Constructing towards the Future
45
Paraf:
--
10,00
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Perusahaan
The Company
a. PT Citra Marga Nusaphala Persada Tbk (CMNP) PT Citra Marga Nusaphala Persada didirikan berdasarkan Akta No. 58, tanggal 13 April 1987 dari Notaris Kartini Muljadi, SH, juncto Akta No.19 dan 20, tanggal 11 Juli 2001 dari Notaris Siti Pertiwi Henny Singgih, SH. Penyertaan pada CMNP dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Cawang Tanjung Priok-Jembatan Tiga. Tahun 1997, Perusahaan meningkatkan penyertaan saham pada CMNP menjadi 355.760.000 saham dengan menggunakan hak pada penawaran umum terbatas sebanyak 177.880.000 saham dengan nilai nominal Rp 500 (Rupiah penuh) per saham atau sebesar Rp 88.940.000.000 (Rupiah penuh) sehingga seluruh penyertaan berjumlah Rp 133.410.000.000 (Rupiah penuh) yang merupakan 17,79% kepemilikan.
a. PT Citra Marga Nusaphala Persada Tbk (CMNP) PT Citra Marga Nusaphala Persada was established based on the Deed No. 58, dated April 13, 1987 of Notary Kartini Muljadi, SH, in conjunction with the Deed No. 19 and 20, dated July 11, 2001 of Notary Siti Pertiwi Henny Singgih, SH. The investment in CMNP was made in relation to the construction and operation of the Cawang Tanjung Priok-Jembatan Tiga toll road project. In 1997, the Company increased its investment in CMNP to become 355,760,000 shares by executing the rights through limited public offering of 177,880,000 shares with par value Rp 500 (full Rupiah) per share or amounting to Rp 88,940,000,000 (full Rupiah) as a result, the total investment amounting to Rp 133,410,000,000 (full Rupiah) representing 17.79% ownership.
Pada 28 Desember 2006, Perusahaan menjual sejumlah 271.186.000 saham atau sebesar Rp 91.123.000.000 (Rupiah penuh) dengan harga Rp 1.770 (Rupiah penuh) per saham atau Rp 479.999.220.000 (Rupiah penuh) sehingga sisa pernyertaan Perusahaan di CMNP menjadi sebesar 4,23% atau 84.574.000 saham dengan nilai nominal Rp 500 (Rupiah penuh) per lembar atau Rp 42.287.000.000 (Rupiah penuh). Perusahaan menerima hasil penjualan bersih saham sebesar Rp 477.316.024.360 (Rupiah penuh) pada tanggal 4 Januari 2007.
On December 28, 2006, the Company sold 271,186,000 shares or equivalent to Rp 91,123,000,000 (full Rupiah) of the investment at a price of Rp 1,770 (full Rupiah) per share or in total Rp 479,999,220,000 (full Rupiah). Therefore, the Company's ownership in CMNP became 4.23% or 84,574,000 shares with par value of Rp 500 (full Rupiah) per share or in total Rp 42,287,000,000 (full Rupiah). The Company received the net proceeds from sale of shares on January 4, 2007 amounting to Rp 477,316,024,360 (full Rupiah).
Pada tahun 2007, Perusahaan telah menjual 1.535.500 saham atau setara dengan Rp 3.598.475.000 (Rupiah penuh) dengan harga berkisar antara Rp 2.300 (Rupiah penuh) dan Rp 2.425 (Rupiah penuh) per saham dengan membukukan keuntungan bersih sebesar Rp 2.818.130.337 (Rupiah penuh) sehingga bersisa 83.038.500 saham atau 4,15% kepemilikan. Pada tahun 2008, Perusahaan menjual 0,07% atau 1.393.500 saham atau setara dengan Rp 3.212.550.000 (Rupiah penuh) dengan harga berkisar antara Rp 2.300 (Rupiah penuh) dan Rp 2.325 (Rupiah penuh) per saham dengan membukukan keuntungan bersih sebesar Rp 696.750.000 (Rupiah penuh) sehingga sisa penyertaan di CMNP adalah 4,08%. Pada April 2012, Perusahaan telah menjual 81.645.000 saham atau setara dengan Rp 40.822.500.000 (Rupiah penuh) dengan harga Rp 2.300 (Rupiah penuh) per saham dengan membukukan keuntungan bersih sebesar Rp 146.961.000.000 (Rupiah penuh) sehingga per 31 Desember 2012 Perusahaan sudah tidak mempunyai penyertaan saham pada CMNP.
In 2007, the Company sold 1,535,500 shares or equivalent to Rp 3,598,475,000 (full Rupiah) of the investment at price among of Rp 2,300 (full Rupiah) and Rp 2,425 (full Rupiah) per share and recorded gain on sale amounting to Rp 2,818,130,337 (full Rupiah), therefore, the Company’s shares remain 83,038,500 shares or 4.15% ownership. In 2008, the Company sold 1,393,500 shares represent 0.07% or equivalent to Rp 3,212,550,000 (full Rupiah) at price range of Rp 2,300 (full Rupiah) to Rp 2,325 (full Rupiah) per share and recorded gain on sale amounting to Rp 696,750,000 (full Rupiah) and therefore, the Company’s shares to become 4.08% ownership. At April 2012, the Company sold 81,645,000 shares or equivalent to Rp 40,822,500,000 (full Rupiah) of the investment at price Rp 2,300 (full Rupiah) per share and recorded gain on sale amounting to Rp 146,961,000,000 (full Rupiah), therefore, as of December 31, 2012 the Company has no shares ownership in CMNP.
b. PT Marga Mandala Sakti (MMS) PT Marga Mandala Sakti didirikan berdasarkan Akta No. 14, tanggal 4 Oktober 1989 dari Notaris Kartini d1/March 24, 2013
b . PT Marga Mandala Sakti (MMS) PT Marga Mandala Sakti was established based on the Deed No.14, dated October 4, 1989 of Notary Kartini 46
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Muljadi, SH. Penyertaan pada MMS dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Tangerang – Merak. Perusahaan memiliki 28.000.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 28.000.000.000 (Rupiah penuh) yang merupakan 8,68% kepemilikan. Berdasarkan Akta No. 4, tanggal 4 April 1995 dari Notaris Sutjipto, SH, penyertaan saham Perusahaan pada MMS sebesar 14.000.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham telah dijaminkan oleh MMS sehubungan dengan fasilitas kredit sindikasi yang diperoleh MMS.
Muljadi, SH. The investment in MMS relates to the construction and operation of the Tangerang – Merak toll road. The Company originally owned 28,000,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 28,000,000,000 (full Rupiah), representing 8.68% ownership. Based on the Deed No. 4 dated April 4, 1995 of Notary Sutjipto, SH, the investment in MMS amounting to 14,000,000 shares with the par value of Rp 1,000 (full Rupiah) per share has been pledged by the Company connection with syndicated credit facilities received by MMS.
Berdasarkan risalah RUPSLB dengan Akta No. 5, tanggal 9 Desember 2004 dari Notaris Hendra Karyadi, SH, para pemegang saham menyetujui penerbitan 921.310.773 saham baru kepada pemegang obligasi konversi. Para pemegang saham lama menyatakan telah melepaskan hak masing-masing untuk membeli saham baru yang diterbitkan kepada pemegang obligasi konversi tersebut. Perubahan pemegang saham tersebut sesuai dengan Akta No. 11, tanggal 1 Agustus 2005 dari Notaris Benny Kristianto, SH, mengenai perubahan pemegang saham MMS dan telah diterima oleh Departemen Hukum dan Hak Asasi Manusia Direktorat Administrasi Hukum Umum No.C-UM.02.01.14078, tanggal 23 September 2005, sehingga kepemilikan Perusahaan pada MMS menjadi 1,94%.
Based on the minutes of the Extraordinary General Meeting of Shareholders as included in the Deed No. 5 dated December 9, 2004 of Notary Hendra Karyadi, SH the shareholders agreed with the issuance of 921,310,773 new shares to convertible bondholders. The predecessor shareholders had already waived their rights to subscribe for new shares issued to the convertible bondholders. This change of shareholders according to the Deed No. 11 dated August 1, 2005 of Notary Benny Kristianto, SH, regarding the change of MMS shareholders has been received by the Directorate General of General Law Administration, Department of Law and Human Rights under receipt No.CUM.02.01.14078, dated September 23, 2005, as a consequence, the Company's share ownership is 1.94%.
c. PT Citra Margatama Surabaya (CMS) PT Citra Margatama Surabaya didirikan berdasarkan Akta No. 99, tanggal 26 Desember 1996 dari Notaris Siti Pertiwi Henny Singgih, SH. Penyertaan pada CMS dilakukan sehubungan dengan penyelenggaraan proyek Jalan Tol Waru–Juanda. Perusahaan memiliki 8.550.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau sebesar Rp 8.550.000.000 (Rupiah penuh) yang merupakan 15% kepemilikan.
c. PT Citra Margatama Surabaya (CMS) PT Citra Margatama Surabaya was established based on the Deed No. 99, dated December 26, 1996 of Notary Siti Pertiwi Henny Singgih, SH. The investment in CMS was made in relation to the constructions and operations of the Waru-Juanda toll road project. The Company owns 8,550,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 8,550,000,000 (full Rupiah), representing 15% ownership.
Berdasarkan Akta No. 717 tanggal 27 Juni 2007 dari Notaris Margaretha Dynawati, SH, para pemegang saham antara lain menyetujui peningkatan modal ditempatkan dan disetor penuh menjadi Rp 380.000.000.000 (Rupiah penuh). Perusahaan hanya melakukan setoran modal sebesar (Rupiah penuh) dari Rp 20.000.000.000 Rp 48.000.000.000 (Rupiah penuh) yang ditetapkan. Dengan demikian kepemilikan Perusahaan di CMS mengalami penurunan menjadi 5,26% yang merupakan 20.000.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 20.000.000.000 (Rupiah penuh).
Based on the Deed No. 717, dated June 27, 2007 of Notary Margaretha Dynawati, SH, the shareholders agreed to increase the issued and paid up capital to become Rp 380,000,000,000 (full Rupiah). The Company had paid up capital amounted to Rp 20,000,000,000 (full Rupiah) from total Rp 48,000,000,000 (full Rupiah). Therefore, the Company’s ownership in CMS was decreased to become 5.26%, representing 20,000,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 20,000,000,000 (full Rupiah).
Berdasarkan Akta No. 40, tanggal 21 Mei 2005 dari Notaris Poerbaningsih Adi Warsito, SH, Perusahaan dan CMS mengadakan Perjanjian Kuasa
Based on the Deed No. 40, dated May 21, 2005 of Notary Poerbaningsih Adi Warsito, SH, the Company and CMS entered into a Joint Operation Agreement that
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Penyelenggaraan yang mengubah wewenang penyelenggaraan jalan tol Waru–Tanjung Perak menjadi kurang lebih 12 Km. Perjanjian Kuasa Penyelenggaraan telah dialihkan menjadi Perjanjian Pengusahaan Jalan Tol (PPJT) antara Pemerintah dengan CMS pada tanggal 12 Pebruari 2007 dengan masa hak pengusahaan (konsesi) hingga tahun 2040.
changed the authority of Waru –Tanjung Perak toll road to become approximately 12 Km. On February 12, 2007, such Joint Operation Agreement has been changed to a Concession Rights Agreement between the Government and CMS with the concession right until year 2040.
Jalan Tol Waru–Juanda telah beroperasi sejak April 2008.
Waru-Juanda toll road has been operated since April 2008.
d. PT Marga Nurindo Bhakti (MNB) PT Margabumi Matraraya didirikan berdasarkan Akta No. 15, tanggal 15 Pebruari 1991 dari Notaris Tawangningrum Purwono, SH, juncto Akta No. 15 tanggal 13 Agustus 1997 dari Notaris Agus Hashim Admad, SH. Penyertaan pada MBM dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Surabaya – Gresik. Perusahaan memiliki 550 saham dengan nilai nominal Rp 10.000.000 (Rupiah penuh) per saham atau setara dengan Rp 5.500.000.000 (Rupiah penuh) yang merupakan 6,47% kepemilikan.
d. PT Marga Nurindo Bhakti (MNB) PT Margabumi Matraraya was established based on the Deed No. 15, dated February 15, 1991 of Notary Tawangningrum Purwono, SH, in conjunction with the Deed No. 15 dated August 13, 1997 of Notary Agus Hashim Admad, SH. The investment in MBM relates to the construction and operation of the Surabaya – Gresik toll road. The Company owns 550 shares at par value of Rp 10,000,000 (full Rupiah) per share or amounting to Rp 5,500,000,000 (full Rupiah), representing 6.47% ownership.
Berdasarkan surat Perusahaan kepada MNB No. AA.HK.02.1143, tanggal 11 Agustus 2000, Perusahaan mengambil alih proyek yang dibangun oleh MNB. Pengambilalihan proyek ini mengakibatkan penyertaan Perusahaan dinilai sudah tidak memiliki nilai ekonomis dan mengakui kerugian atas penurunan nilai penyertaan sebagai beban tahun 2000 sebesar Rp 9.499.999.000 (Rupiah penuh).
Based on the Company’s Letter No. AA.HK.02.1143, dated August 11, 2000 to MNB, the Company took over the JORR sections being built by MNB, with a consequence that the Company’s investment had no economic value. Therefore, the Company recognized the loss on the impairment of the investment as an expense in year 2000 amounting to Rp 9,499,999,000 (full Rupiah).
e. PT Margabumi Matraraya (MBM) PT Margabumi Matraraya didirikan berdasarkan Akta No. 15, tanggal 15 Pebruari 1991 dari Notaris Tawangningrum Purwono, SH, juncto Akta No. 15 tanggal 13 Agustus 1997 dari Notaris Agus Hashim Admad, SH. Penyertaan pada MBM dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Surabaya – Gresik. Perusahaan memiliki 550 saham dengan nilai nominal Rp 10.000.000 (Rupiah penuh) per saham atau setara dengan Rp 5.500.000.000 (Rupiah penuh) yang merupakan 6,47% kepemilikan.
e. PT Margabumi Matraraya (MBM) PT Margabumi Matraraya was established based on the Deed No. 15, dated February 15, 1991 of Notary Tawangningrum Purwono, SH, in conjunction with the Deed No. 15 dated August 13, 1997 of Notary Agus Hashim Admad, SH. The investment in MBM relates to the constructions and operations of the Surabaya – Gresik toll road. The Company owns 550 shares at par value of Rp 10,000,000 (full Rupiah) per share or amounting to Rp 5,500,000,000 (full Rupiah), representing 6.47% ownership.
f. PT Citra Mataram Satriamarga Persada (CMSP) PT Citra Mataram Satriamarga Persada didirikan berdasarkan Akta No. 36, tanggal 12 April 1996 dari Notaris Siti Pertiwi Henny Singgih, SH. Penyertaan pada CMSP dilakukan sehubungan dengan penyelenggaraan proyek jalan tol JORR Seksi W2 (Kebon Jeruk – Pondok Pinang). Perusahaan memiliki 4.725.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 4.725.000.000 (Rupiah penuh) yang merupakan 15% kepemilikan.
f. PT Citra Mataram Satriamarga Persada (CMSP) PT Citra Mataram Satriamarga Persada was established based on the Deed No. 36, dated April 12, 1996 of Notary Siti Pertiwi Henny Singgih, SH. The investment in CMSP relates to operation of the JORR Section W2 (Kebon Jeruk – Pondok Pinang) toll road project. The Company owns 4,725,000 shares at par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 4,725,000,000 (full Rupiah) representing 15% ownership.
Berdasarkan surat Perusahaan kepada CMSP No. AA.HK.02.820, tanggal 21 Juni 2000, dinyatakan mengenai pengambilalihan proyek dan pengakhiran
Based on the Company Letter No. AA.HK.02.820, dated June 21, 2000 to CMSP, regarding the takeover of the project and termination of Concession Agreement, the
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
PKP. Penyertaan Perusahaan pada CMSP ini dipandang sudah tidak memiliki nilai ekonomis, sehingga Perusahaan mengakui kerugian atas penurunan nilai penyertaan sebagai beban tahun 2000 sebesar Rp 4.724.999.000 (Rupiah penuh).
Company’s investment in CMSP is deemed to have no economic value. Therefore, the Company has recognized the loss caused by the impairment of this investment as an expense in 2000 amounting to Rp 4,724,999,000 (full Rupiah).
g. PT Margaraya Jawa Tol (MJT) PT Margaraya Jawa Tol didirikan berdasarkan Akta No. 18, tanggal 6 Juni 1997 dari Notaris Enimarya Agoes Suwarako, SH. Penyertaan pada MJT dilakukan sehubungan dengan penyelenggaraan proyek Jalan Tol Waru (Aloha) – Tanjung Perak. Perusahaan memiliki 4.143.438 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 4.143.438.000 (Rupiah penuh) yang merupakan 5% kepemilikan.
g. PT Margaraya Jawa Tol (MJT) PT Margaraya Jawa Tol was established based on the Deed No. 18 dated June 6, 1997 of Notary Enimarya Agoes Suwarako, SH. The investment in MJT relates to the construction and operation of the Waru (Aloha) – Tanjung Perak toll road project. The Company originally owned 4,143,438 shares at par value of Rp 1,000 (full Rupiah), amounting to Rp 4,143,438,000 (full Rupiah), or representing 5% ownership.
Berdasarkan Rapat Umum Pemegang Saham Luar Biasa mengenai restrukturisasi MJT yang tercantum dalam Akta No. 17 tanggal 20 Oktober 2004 dari Notaris Adrian Djuaini, SH, Perusahaan memperoleh 1.250.000 saham dari hasil kapitalisasi atau konversi 20.000.000 saham baru sehingga kepemilikan saham Perusahaan menjadi 5.393.438 saham atau setara dengan Rp 5.393.438.000 (Rupiah penuh). Selain itu, MJT juga mengeluarkan saham baru dari saham portepel sebanyak 110.458.000 saham. Perusahaan tidak ambil bagian dalam tambahan setoran modal disetor tersebut sehingga kepemilikan Perusahaan mengalami penurunan menjadi 2,44%. Pemerintah dan MJT telah menandatangani PPJT pada tanggal 19 Juli 2007 dengan masa konsesi hingga tahun 2047.
Based on the Extraordinary General Meeting of Shareholders, regarding MJT restructuring, as included in the Deed No. 17 dated October 20, 2004 of Notary Adrian Djuaini, SH, the Company acquired 1,250,000 shares from capitalization or conversion of convertible bond to 20,000,000 new shares hence the Company’s shares became 5,393,438 shares or equivalent to Rp 5,393,438,000 (full Rupiah). In addition, MJT issued new shares from its portfolio of 110,458,000 shares. The Company did not increase additional paid in capital so that the Company’s ownership decrease to become 2.44%. The Government and MJT have entered into Concession Rights Agreement on July 19, 2007 with concession period until year 2047.
h. PT Bosowa Marga Nusantara (BMN) PT Bosowa Marga Nusantara didirikan berdasarkan Akta No. 20, tanggal 12 April 1993 dari Notaris Mestariany Habie, SH. Penyertaan pada BMN dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Ujung Pandang yaitu Jalan Satando – Simpang Urip Sumoharjo/Petta Rani (tahap l) – Jalan Sultan Alauddin (tahap ll). Berdasarkan Akta No. 25, tanggal 5 September 1998, Perusahaan memiliki 3.332 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham atau setara dengan Rp 3.332.000.000 (Rupiah penuh) yang merupakan 10% kepemilikan.
h. PT Bosowa Marga Nusantara (BMN) PT Bosowa Marga Nusantara was established based on the Deed No. 20, dated April 12, 1993 of Notary Mestariany Habie, SH. The investment in BMN was made in relation to the construction and operation of the Ujung Pandang toll roads that is Jalan Satando – Urip Sumoharjo Interchange/Petta Rani (phase l) – Jalan Sultan Alauddin (phase ll). Based on the Deed No. 25 dated September 5, 1998, the Company owns 3,332 shares at par value of Rp 1,000,000 (full Rupiah) per share or equivalent to Rp 3,332,000,000 (full Rupiah), representing 10% ownership.
Keputusan Menteri Pekerjaan Umum No. 276/KPTS/1994, tanggal 26 Agustus 1994 dan Akta No. 322, tanggal 29 Agustus 1994, dari Notaris Mestariany Habie, SH, menyatakan bahwa BMN mengoperasikan jalan tol selama 30 tahun untuk tahap I dan tahap II akan ditentukan kemudian namun tidak lebih dari 30 tahun sejak dioperasikannya jalan tol baik sebagian atau seluruhnya. Ruas jalan tol Ujung Pandang tahap I dan II telah dioperasikan sejak tahun 1998.
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The Decree of the Minister of Public Work No. 276/KPTS/1994, dated August 26, 1994 and the Deed No. 322, dated August 29, 1994 of Notary Mestariany Habie, SH, states that BMN would operate phase I of the toll road for 30 years and phase II will be decided later but not for a period longer than 30 years since the operation of either part of all of the toll road. Phase I and Phase II of the Ujung Pandang toll road has been operated since 1998.
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Berdasarkan perubahan Anggaran Dasar BMN yang tercantum dalam Akta Karin Christiana Basoeki, S.H, No.13 tanggal 16 Mei 2008 terdapat peningkatan modal dasar, ditempatkan dan disetor perusahaan. Dengan adanya perubahan tersebut penyertaan saham Perusahaan terdilusi menjadi 1,47%.
Based on amanded the Article of Association of BMN as stated on the Deed No.13 dated May 16, 2008 of notary Karin Christiana Basoeki, S.H, there was the increase of the company’s authorized, issued and fully paid in capital. As result of such amendment, the Company’s investment in shares has been diluted to 1.47%.
i. PT Marga Mawatindo Esprit (MME) PT Marga Mawatindo Esprit didirikan berdasarkan Akta No. 96, tanggal 30 Mei 1997 dari Notaris Siti Pertiwi Henny Singgih, SH. Penyertaan pada MME dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Semarang – Demak. Perusahaan memiliki 1.154.364 saham dengan nilai nominal Rp 2.409 (Rupiah penuh) per saham atau setara dengan Rp 2.780.862.876 (Rupiah penuh) yang merupakan 8,33% kepemilikan.
i. PT Marga Mawatindo Esprit (MME) PT Marga Mawatindo Esprit was established based on the Deed No. 96, dated May 30, 1997 of Notary Siti Pertiwi Henny Singgih, SH. The investment in MME relates to the construction and operation of the Semarang – Demak toll road. The Company owns 1,154,364 shares at par value of Rp 2,409 (full Rupiah) per share or equivalent to Rp 2,780,862,876 (full Rupiah), representing 8.33% ownership.
Berdasarkan Surat No. 001/SPK-DIR/2003, tanggal 6 Januari 2003, Perusahaan dan MME sepakat untuk mengakhiri Perjanjian Kuasa Penyelenggaraan No. 58, tanggal 25 Pebruari 1998. Pengakhiran PKP ini mengakibatkan penyertaan pada perusahaan ini tidak memiliki nilai ekonomis, sehingga Perusahaan mengakui adanya kerugian atas penurunan nilai penyertaan yang bersifat permanen sebagai beban tahun 2002 sebesar Rp 2.780.861.876 (Rupiah penuh).
Based on Letter No. 001/SPK-DIR/2003, dated January 6, 2003, the Company and MME agreed to terminate the Concession Rights Agreement No. 58, dated February 25, 1998. The result of such termination of Concession Rights Agreement caused the Company’s investment to have no economic value, the Company recognized the loss on the permanent impairment of the investment as an expense in year 2002 amounting to Rp 2,780,861,876 (full Rupiah).
j. Marga Net One Limited (MNOL) PT Marga Net One Limited didirikan berdasarkan 50 hukum Negara Bangladesh sebagaimana termuat dalam Incoporated Under The Company Act 1994 (ACT-XVIII of 1994) (Private Company Limited By Shares) dan Memorandum of Association of Marga Net One Limited, tanggal 29 Pebruari 2003 juncto Certificate of Incoporation No. C-50732 (1027)/ 2003 tanggal 11 Oktober 2003 yang dikeluarkan Registrar of Joint Stock Companies Bangladesh.
j. Marga Net One Limited (MNOL) PT Marga Net One Limited was established based on the Law of Bangladesh as stated in The Company Act 1994 (ACT-XVIII of 1994) (Private Company Limited by Shares) and Memorandum of Association of Marga Net One Limited dated February 29, 2003, in conjunction with Certificate of Incorporation No. C-50732(1027)/ 2003 dated October 11, 2003, issued by the Bangladesh Registrar of Joint Stock Companies.
Berdasarkan Memorandum of Association of MNOL, tanggal 29 Pebruari 2003, Perusahaan memiliki 200 saham dengan nominal TK 100 (mata uang Taka penuh) per lembar saham atau 10% kepemilikan dan setoran modal sejumlah USD 1.800 (Dolar penuh) atau setara dengan Rp 15.290.775 (Rupiah penuh) yang dilakukan pada 2 September 2003.
Based on the Memorandum of Association of MNOL dated February 29, 2003, the Company owns 200 shares at par value of TK 100 (full Taka amount) per share or 10% ownership and paid in capital amounting to USD 1,800 (full Rupiah) or equivalent to Rp 15,290,775 (full Rupiah) was subscribed on September 2, 2003.
Perusahaan sepakat melakukan kerjasama pemberian jasa teknik dalam manajemen pengumpulan tol, manajemen lalu lintas, dan manajemen pemeliharaan atas pengelolaan dan pengoperasian jembatan tol Jamuna di Bangladesh selama 5 tahun.
The Company agreed to render technical services by providing a management of toll collecting, traffic management, and management of maintenance for the operations of the Jamuna toll bridge in Bangladesh for 5 years.
Perusahaan menganggap penyertaan pada MNOL sudah tidak memiliki nilai ekonomis disebabkan tidak adanya kepastian pengembalian investasi atas penyertaannya dan mengakui kerugian atas penurunan nilai penyertaan yang bersifat permanen sebagai beban tahun 2006 sebesar Rp 15.289.775 (Rupiah penuh).
The Company has identified that the investment in MNOL does not have any expected future economic benefit and the Company recognized the loss on impairment of the investment amounted to Rp 15,289,775 (full Rupiah) as an expense in 2006.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
k. PT Jakarta Lingkar Baratsatu (JLB) Perusahaan telah melakukan pengakhiran kerjasama penyelenggaraan jalan tol JORR Seksi W1 dan pencabutan izin kerjasama dalam Surat Keputusan Menteri Pekerjaan Umum No. 80/KPTS/1997, tanggal 4 April 1997 sehubungan dengan tidak adanya kejelasan kelanjutan pembangunan proyek jalan tol JORR W1. Menunjuk surat Menteri Pekerjaan Umum No. JL.0103Mn/271, tanggal 31 Maret 2005, Menteri Pekerjaan Umum meminta Perusahaan dan JLB melakukan penilaian kembali tentang kelayakan untuk melanjutkan kerjasama dalam pelaksanaan pembangunan ruas jalan tol JORR Seksi W1.
k.
PT Jakarta Lingkar Baratsatu (JLB) The Company had terminated cooperation in completing Toll Road JORR Section W1 and withdrawn cooperation license in the Decree of the Minister of Public Works No. 80/KPTS/1997 dated April 4, 1997 due to there’s no clear willingness to continue construction project of Toll Road JORR W1. With reference to the Decree of the Minister of Public Works No. JL.0103-Mn/271 dated March 31, 2005, the Minister of Public Works asked the Company and JLB to conduct reevaluation on the feasibility of continuing cooperation in development of Toll Road JORR Section W1.
Pada tanggal 2 Pebruari 2007, PT Jakarta Lingkar Baratsatu (JLB) selaku pemegang hak pengusahaan jalan tol JORR Seksi W-1 telah menandatangani Perjanjian Pengusahaan Jalan Tol (PPJT) JORR Seksi W-1 No. 02/PPJT/II/Mn/2007 dengan masa konsesi selama 35 tahun dan berlaku efektif sejak 2 Pebruari 2007. Berdasarkan perjanjian penyertaan saham pada JLB No.2 tanggal 4 Pebruari 2009 dari Notaris Febrian, SH, Perusahaan melakukan penyertaan pada JLB dengan cara in-kind berupa bangunan Simpang Susun Penjaringan dengan nilai penyertaan sebesar Rp 180.632.000.000 (Rupiah penuh) atau setara dengan 180.632 saham dengan nilai nominal Rp 1.000.000 perlembar, atau setara dengan 23% penyertaan dari total saham ditempatkan.
On February 2, 2007, PT Jakarta Lingkar Baratsatu (JLB) as the owner of concession rights of Toll Road JORR Section W1 has entered into Contract of Concession Toll Road JORR Section W1 No. 02/PPJT/II/Mn/2007 with concession period of 35 years and effectively valid on February 2, 2007. Based on agreement of the investments in shares of JLB No.2 dated February 4, 2009 from Notary Febrian, SH, the Company had participated in JLB with in-kind method for building of Penjaringan Interchange with participation value of Rp 180,632,000,000 (full Rupiah) or equivalent with 180,632 shares wih par value Rp 1,000,000 per share, or equivalent to 23% participation from total issued share capital.
Berdasarkan Berita Acara Rapat Umum Luar Biasa Pemegang Saham No.18 tanggal 28 September 2009 dari Notaris Kartono SH, penyertaan Perusahaan secara in-kind berupa bangunan Simpang Susun Penjaringan dengan nilai Rp 180.632.000.000 (Rupiah penuh) terdiri dari 180.632 lembar atau 19,1 % kepemilikan.
Based on Minutes of the Extraordinary General Meeting of Shareholders No.18 dated September 28, 2009 by notary Kartono SH, the Company participation with inkind method were in form of Penjaringan Interchange building amounting to Rp 108,632,000,000 (full Rupiah) consisting of 180.632 shares or 19.1% ownership.
13. Aset Tetap
13. Property and Equipment Saldo Awal/ Beginning Balance
2012 Penambahan/ Pengurangan/ Additions Disposals
Saldo Akhir/ Ending Balance
Harga Perolehan Aset Tetap Pemilikan Langsung Hak atas Tanah Gedung Kantor den Bangunan Lain Peralatan Operasi dan Kantor Kendaraan Berrnotor Sub Total Aset Sewa Guna Usaha Sub Total Aset Tetap Dalam Konstruksi Sub Total Total Harga Perolehan
Acquisition Cost Direct Acquisition Assets 3,500,000 44,197,004 2,977,701 50,674,705
45,176,525 45,176,525 32,115,575 32,115,575 823,332,355
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Annual Report 2012
--
3,684,116 150,120,532 552,772,261 39,463,346 746,040,255
Constructing towards the Future
168,929
16,968,308
5,397,228 30,288,451
3,515,187 145,866,546 580,000,957 37,043,819 766,426,509
67,303,697 67,303,697
---
112,480,222 112,480,222
Finance Lease Assets Sub Total
121,552,334 121,552,334 239,530,736
77,328,182 77,328,182 107,616,633
76,339,727 76,339,727 955,246,458
Construction in Progress Sub Total Total Acquisition Cost
51
7,753,986
Land Rights Office and Other Buildings Operation and Office Equipment Vehicles Sub Total
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) Saldo Awal/ Beginning Balance
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) 2012 Penambahan/ Pengurangan/ Additions Disposals
Saldo Akhir/ Ending Balance
Akumulasi Penyusutan
Accumulated Depreciation
Gedung Kantor dan Bangunan Lain Peralatan Operasi dan Kantor Kendaraan Bermotor
53,280,238 323,198,472 24,887,272 401,365,982 24,867,778 24,867,778 426,233,760 397,098,595
Aset Sewa Guna Usaha Sub Total Nilai Buku
Saldo Awal/ Beginning Balance
6,108,740 94,131,897 3,972,152 104,212,789 8,474,787 8,474,787 112,687,576
355,942
59,033,036 417,086,406 24,280,262 500,399,704 32,339,887 32,339,887 532,739,591 422,506,867
243,963
4,579,162 5,179,067 1,002,678 1,002,678 6,181,745
2011 Penambahan/ Pengurangan/ Additions Disposals
Office and Other Buildings Operation and Office Equipment Vehicles Finance Lease Assets Sub Total Book Value
Saldo Akhir/ Ending Balance
Harga Perolehan Aset Tetap Pemilikan Langsung
Acquisition Cost Direct Acquisition Assets
Hak atas Tanah Gedung Kantor den Bangunan Lain Peralatan Operasi dan Kantor Kendaraan Berrnotor Sub Total Aset Guna Usaha Sub Total Aset Tetap Dalam Konstruksi Sub Total Total Harga Perolehan
517,174 133,559,925 371,360,917 36,575,079 542,013,095
3,166,942 26,422,749 181,411,344 2,888,267 213,889,302
88,032,555 88,032,555
--
9,862,142
3,684,116 150,120,532 552,772,261 39,463,346 746,040,255
---
42,856,029 42,856,029
45,176,525 45,176,525
Finance Lease Assets Sub Total
19,352,922 19,352,922 649,398,572
39,185,401 39,185,401 253,074,703
26,422,749 26,422,749 79,140,920
32,115,574 32,115,574 823,332,355
Construction in Progress Sub Total Total Acquisition Cost
54,234,240 255,456,151 23,272,630 332,963,021 18,625,421 18,625,421 351,588,442 297,810,130
5,132,708 67,742,321 1,614,642 74,489,671 6,242,357 6,242,357 80,732,028
6,086,710
53,280,238 323,198,472 24,887,272 401,365,982 24,867,778 24,867,778 426,233,760 397,098,595
9,862,142
---
Land Rights Office and Other Buildings Operation and Office Equipment Vehicles Sub Total
Akumulasi Penyusutan
Accumulated Depreciation
Gedung Kantor dan Bangunan Lain Peralatan Operasi dan Kantor Kendaraan Bermotor Aset Sewa Guna Usaha Sub Total Nilai Buku
---
6,086,710
---
6,086,710
14. Aset Takberwujud
Finance Lease Assets Sub Total Book Value
14. Intangible Assets
Aset Hak Pengusahaan Jalan Tol Saldo Awal/ Beginning Balance Rp Biaya Perolehan Akumulasi Penyusutan
18,380,122,431 (2,809,034,385)
Nilai Buku
15,571,088,046
d1/March 24, 2013
Office and Other Buildings Operation and Office Equipment Vehicles
Toll Road Concession Rights Penambahan/ Additions Rp
2012
20,762,087,710 (4,896,654,205)
Pengurangan/ Disposals Rp
Saldo Akhir/ Ending Balance Rp
13,068,606,818 (185,900,738)
26,073,603,323 (7,519,787,852)
Cost Accumulated Amortization
18,553,815,470
Book Value
52
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Annual Report 2012
325
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain) Saldo Awal/ Beginning Balance Rp Biaya Perolehan Akumulasi Penyusutan
15,460,030,465 (2,409,796,098)
Nilai Buku
13,050,234,367
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) Penambahan/ Additions Rp
2011
3,418,425,417 (399,238,287)
Pengurangan/ Disposals Rp 498,333,451 -
15. Goodwill
Cost Accumulated Amortization
15,571,088,046
Book Value
2012 Rp
2011 Rp
36,879,508 2,120,709 2,848,350 41,848,567
36,879,508 2,120,709 2,848,350 41,848,567
Carrying Amount Acquisition of PT Marga Nujyasumo Agung Acquisition of PT Marga Kunciran Cengkareng Acquisition of PT Sarana Margabhakti Utama Total
Berdasarkan Akta Perubahan Anggaran Dasar No.23, tanggal 10 Januari 2007, dari Notaris Buntario Tigris, SH dan telah mendapat persetujuan dari Menteri Hukum dan Hak Asasi Manusia dengan Surat Keputusan No.W700655.HT.01.04.Th.2007 tanggal 18 Januari 2007, pemegang saham PT Marga Nujyasumo Agung (MNA) menyetujui peningkatan modal dasar serta modal ditempatkan dan modal disetor masing-masing menjadi Rp 600.000.000.000 (Rupiah penuh) dan Rp 350.000.000.000 (Rupiah penuh) melalui penerbitan saham baru.
Based on the Deed of Changes of Articles of Association No. 23 dated January 10, 2007 of Notary Buntario Tigris, SH and as approved by the Minister of Law and Human Rights through Decree No.W7-00655.HT.01.04.Th.2007 dated January 18, 2007, the shareholders of PT Marga Nujyasumo Agung (MNA) agreed to increase its authorized capital and the issued and paid in capital to become Rp 600,000,000,000 (full Rupiah) and Rp 350,000,000,000 (full Rupiah), respectively, through a rights issue.
Berdasarkan kesepakatan bersama No. 46 tanggal 18 Pebruari 2009 dari Notaris Johny Dwikora Aron, SH atas peningkatan modal dasar tersebut, Perusahaan mengambil bagian sebesar Rp 330.000.000.000 (Rupiah penuh) atau setara dengan 55% penyertaan. Dengan demikian, klasifikasi investasi Perusahaan pada MNA berubah dari investasi jangka panjang menjadi konsoldiasian. Peningkatan di MNA ini dilakukan dengan akuisisi saham dari beberapa pemegang saham di MNA yaitu PT Moeladi, PT Kaliurang Daya Cipta, PT Dressa Cipta, PT Induco Matra dan pembelian saham portepel PT Marga Nujyasumo Agung.
Based on the Deed No.46 dated February 18, 2009 of Notary Johny Dwikora Aron, SH regarding the increasing of authorized capital, the Company participated in capital amounting to Rp 330,000,000,000 (full Rupiah) or representing 55% ownership. Therefore, the Company’s investment in MNA changed from long term investment to become consolidation. The capital increase in MNA was getting done by doing acquisition from the shareholders of PT Marga Nujyasumo Agung consisted of PT Moeladi, PT Kaliurang Daya Cipta, PT Dressa Cipta, PT Induco Matra and MNA’s shares.
Pada tahun 2009 Perusahaan telah mencatat goodwill Rp 36.879.508.000 (Rupiah penuh) berdasarkan estimasi yang dilakukan Perusahaan dan nilai yang tercatat pada tahun 2010 sebesar Rp 70.693.667.450 (Rupiah penuh) telah disesuaikan dengan hasil penilaian dari apraisal independen.
In 2009, the Company has recorded goodwill which was estimated by the Company amounting to Rp 36,879,508,000 (full Rupiah) and the carrying value in 2010 amounted to Rp 70.693.667.450 (full Rupiah) has been adjusted for appraisal value from the independent appraisal.
Pada tahun 2010 Perusahaan melakukan akuisisi terhadap PT Marga Kunciran Cengkareng (MKC) yang bergerak dalam bidang jalan tol dengan jumlah penyertaan saham sebesar 75% kepemilikan. Perusahaan telah mencatat goodwill yang timbul dari akuisisi ini.
In 2010, the Company acquired PT Marga Kunciran Cengkareng (MKC), a company engaged in toll road with value of investment of shares representing 75% ownership. The Company has recorded goodwill arose from this acquisition.
d1/March 24, 2013 326
18,380,122,431 (2,809,034,385)
15. Goodwill
Nilai Tercatat Bruto Akuisisi PT Marga Nujyasumo Agung Akuisisi PT Marga Kunciran Cengkareng Akuisisi PT Sarana Margabhakti Utama Total
Saldo Akhir/ Ending Balance Rp
Annual Report 2012
Constructing towards the Future
53
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Pada tahun 2010, Perusahaan juga telah melakukan akuisisi pada PT Sarana Margabhakti Utama (SMBU) yang bergerak di bidang jasa konstruksi, perdagangan, dan persewaan kendaraan. Jumlah akuisisi adalah sebesar 99% kepemilikan saham. Perusahaan telah mencatat goodwill yang timbul dari akuisisi ini.
In 2010, the Company also acquired PT Sarana Margabhakti Utama (SMBU) which is engaged in construction, trading, and rental vehicles. Total acquisition value amounted to 99% ownership. The Company has recorded goodwill arose from this acquisition.
16. Aset Lain-lain
Aset Diambil Alih Jalan Tol Ruas Surabaya – Gempol Seksi Porong – Gempol Biaya Ditangguhkan – Bersih Uang Muka Kontraktor Perangkat Lunak Alat Pengolahan Data Elektronik – Bersih Jaminan Lainnya Total Aset Lain-lain Penyisihan Penurunan Nilai Aset dan Piutang Tak Tertagih Total – Bersih
16. Other Assets 2012 Rp
2011 Rp
34,203,915
34,203,915
12,027,508 2,534,209 183,585,661
12,027,508 86,368,870 24,613,371
23,275,968 49,904,731 9,924,819 315,456,811
19,085,235 111,071,631 73,936,246 361,306,776
(26,302,053)
(26,302,053) 335,004,723
289,154,758
a. Aset Diambil Alih Aset diambil alih dari pengakhiran Perjanjian Kuasa Penyelenggaraan (PKP) adalah sebagai berikut :
Assets Taken Over Surabaya – Gempol Toll Road Porong-Gempol Section Net - Deferred Charges Advance for Contractor Net - Electronic Software for Data Processing Guarantees Others Total Other Assets Allowance for Impairment and Bad Debt Total – Net
a. Assets Taken Over Assets taken over from termination of Concession Rights Agreements are as follows:
2012 Rp
2011 Rp
Ruas Tol Semarang – Demak (MME) Ruas Tol Cileunyi – Nagrek (PT Wijaya Karya) Ruas Tol Pandaan – Pasuruan (PT Giri Adya Sejati)
20,129,778 12,000,000 2,074,137
20,129,778 12,000,000 2,074,137
Toll Road Pandaan-Pasuruan (PT Giri Adya Sejati)
Total
34,203,915
34,203,915
Total
b. Uang Muka Merupakan uang muka kontraktor dan konsultan dalam rangka pembangunan jalan tol, pelapisan ulang, pengadaan peralatan jalan tol, dan pengadaan jalan lain yang akan diperhitungkan dengan tagihan atas kemajuan pekerjaan kontraktor dan konsultan.
d1/March 24, 2013
Toll Road Semarang – Demak (MME) Toll Road Cileunyi – Nagrek (PT Wijaya Karya)
b. Advances Represents down payments to contractors and consultants for toll road construction, overlay, toll road equipment procurement, and other road procurements and are calculated from the invoice of working progress from the contractors and consultants.
54
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Annual Report 2012
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
17. Utang Bank
17. Bank Loans
Utang Jangka Pendek
Pihak Berelasi PT Bank Mandiri (Persero) Tbk PT Bank Nasional Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk Pihak Ketiga PT Bank Central Asia Tbk PT Bank Pembangunan Daerah Jabar dan Banten Tbk Total
Short Term Loans 2012 Rp
2011 Rp
257,500,000 500,000 500,000 258,500,000
250,000,000
1,380,028,297
1,381,876,383
2,250,000 1,382,278,297 1,640,778,297
--
Third Parties PT Bank Central Asia Tbk PT Bank Pembangunan Daerah Jabar dan Banten Tbk
1,381,876,383 1,631,876,383
Total
---
250,000,000
Utang Jangka Panjang
Long Term Loans 2012 Rp
Pihak Berelasi PT Bank Mandiri (Persero) Tbk PT Bank Nasional Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Tabungan Negara (Persero) Tbk Pihak Ketiga PT Bank Central Asia Tbk PT Bank Bukopin Tbk PT Bank Pembangunan Daerah DKI PT Bank Pembangunan Daerah Jabar dan Banten Tbk PT Bank Pembangunan Daerah Jateng PT Bank Pembangunan Daerah Bali PT Bank Pembangunan Daerah Jawa Timur Tbk PT Bank Pembangunan Daerah Sumatera Utara Total
2011 Rp
1,088,270,118 948,391,463 707,282,718 28,154,781 2,772,099,080
510,987,562 564,765,541 403,482,488
--
1,479,235,591
d1/March 24, 2013 Annual Report 2012
Constructing towards the Future
Related Parties PT Bank Mandiri (Persero) Tbk PT Bank Nasional Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Tabungan Negara (Persero) Tbk
38,440,353 29,782,855 26,994,037
25,418,595 22,962,358
19,497,449
--
14,716,118 274,136,456 3,046,235,536
--
Third Parties PT Bank Central Asia Tbk PT Bank Bukopin Tbk PT Bank Pembangunan Daerah DKI PT Bank Pembangunan Daerah Jabar dan Banten Tbk PT Bank Pembangunan Daerah Jateng PT Bank Pembangunan Daerah Bali PT Bank Pembangunan Daerah Jawa Timur Tbk PT Bank Pembangunan Daerah Sumatera Utara
71,466,892 1,550,702,483
Total
--
53,988,074 48,242,345 42,475,224
23,085,939
--
--
Persyaratan rasio keuangan Perusahaan berdasarkan perjanjian kredit masing-masing bank adalah Rasio Utang terhadap Ekuitas (DER) maksimal 5:1 dan Interest Coverage Ratio (ICR) minimal 1,25: 1.
328
Related Parties PT Bank Mandiri(Persero) Tbk PT Bank Nasional Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk
The Company's financial ratio requirement based on each bank's credit agreement is a Debt to Equity Ratio (DER) maximum of 5:1 and Interest Coverage Ratio (ICR) minimum of 1,25:1.
55
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Pinjaman pada PT Bank Central Asia Tbk a. Berdasarkan Akta Perjanjian Kredit Modal Kerja No. 28, tanggal 11 Juli 2003, yang telah mengalami beberapa kali perubahan dan terakhir dengan Akta Addendum perjanjian kredit No.12 tanggal 27 April 2012 dari Notaris Ir. Nanette Cahyanie Handari Adi Warsito, SH, Perusahaan memperoleh fasilitas pinjaman sebesar Rp 150.000.000.000 (Rupiah penuh) untuk jangka waktu 1 tahun. Tingkat bunga pinjaman sebesar 7,5%. Batas waktu jatuh tempo fasilitas Kredit Modal Kerja tersebut diperpanjang menjadi 13 Agustus 2013. Perusahaan telah mencairkan seluruh fasilitas pinjaman tersebut sehingga jumlah pinjaman bank tersebut pada 31 Desember 2012 sebesar Rp 150.000.000.000 (Rupiah penuh).
Loan from PT Bank Central Asia Tbk a. Based on the Deed of Working Capital Credit Agreement No. 28, dated July 11, 2003 and lastly amended by the Deed of Amendment to Credit Agreement No. 12, dated April 27, 2012 of Notary Ir. Nanette Cahyanie Handari Adi Warsito, SH, the Company has obtained loan facilities amounting to Rp 150,000,000,000 (full Rupiah) for a period of 1 year. The loan interest rate is 7.5% per annum. The maturity of this working capital credit facility has been extended to August 13, 2013. The Company has drawdown all of the loan facility, hence the outstanding loan as of December 31, 2012 is Rp 150,000,000,000 (full Rupiah).
b. Berdasarkan Akta Perjanjian Kredit Investasi No. 37, tanggal 25 Oktober 2005 dibuat dihadapan Notaris Ir. Nanette Cahyanie Handari Adi Warsito, SH, Perseroan mendapatkan fasilitas kredit investasi dengan tujuan untuk pembiayaan proyek jalan tol JORR II (Seksi E1, E3) sebesar Rp 350.000.000.000 (Rupiah penuh). Akta ini diubah dengan Akta Addendum Perjanjian Kredit Investasi No. 53, tanggal 28 April 2006 untuk fasilitas kredit investasi sebesar Rp 310.000.000.000 (Rupiah penuh) dan Akta Perjanjian Kredit No. 54, tanggal 28 April 2006 sebagaimana kemudian diubah dalam Akta Addendum Perjanjian Kredit Modal Kerja No. 6, tanggal 10 Agustus 2006 dari Notaris Ir. Nanette Cahyanie Handari Adi Warsito, SH, Akta Addendum Perjanjian Kredit No. 47 tanggal 29 Maret 2007 dan Akta Addendum Perjanjian Kredit No. 06 tanggal 6 Juni 2007 dari Notaris Poerbaningsih Adi Warsito, SH, Perusahaan memperoleh fasilitas time loan revolving sebesar Rp 40.000.000.000 (Rupiah penuh) untuk jangka waktu 1 tahun dan mendapat tambahan jumlah pokok fasilitas kredit sebesar Rp 596.000.000.000 (Rupiah penuh) sehingga jumlah fasilitas yang diterima Perusahaan menjadi Rp 636.000.000.000 (Rupiah penuh), tingkat suku bunga tetap sebesar 7,5% per tahun. Berdasarkan Akta Adendum No.09 tanggal 27 April 2012, jangka waktu kredit diperpanjang dari 28 April 2012 menjadi jatuh tempo pada 13 Agustus 2013. Perusahaan telah mencairkan fasilitas pinjaman tersebut, jumlah pinjaman bank pada 31 Desember 2012 sebesar Rp 636.000.000.000 (Rupiah penuh).
b. Based on the Deed of Credit Agreement No. 37, dated October 25, 2005 of Notary Ir. Nanette Cahyanie Handari Adi Warsito, SH, the Company has obtained loan facilities amounting to Rp 350,000,000,000 (full Rupiah) for the purpose of financing JORR II toll road project (E1, E3 Section). The Deed has been changed with the Deed of Credit Agreement No. 53, dated April 28, 2006 for the loan facilities amounting to Rp 310,000,000,000 (full Rupiah) and based on the Deed of Credit Agreement No. 54 dated April 28, 2006 as changed in Deed of Amendment to Working Capital Credit Agreement No. 6, dated August 10, 2006, Deed of Addendum to Credit Agreement No. 47 dated March 29, 2007 and Deed of Amendment to Credit Agreement No. 06 dated June 6, 2007 of Notary Ir. Nanette Cahyanie Handari Adi Warsito, SH, the Company has obtained time loan revolving facility amounting to Rp 40,000,000,000 (full Rupiah) for a period of 1 year and an additional credit facility amounting to Rp 596,000,000,000 (full Rupiah). Total facilities obtained by the Company were amounting to Rp 636,000,000,000 (full Rupiah), loan interest rate is equal to 7,5% per annum fixed rate. Based on the Deed of Amendment No: 09 dated April 27, 2012, the maturity of the loan has been extended from April 28, 2012 to August 13, 2013. The Company drawdown and paid part of the loan facility, hence the outstanding of loan as of December 31, 2012 amounting to Rp 636,000,000,000 (full Rupiah).
c. Berdasarkan Akta Perjanjian Kredit No. 33, tanggal 13 Agustus 2009, dari Notaris Ir. Nanette Cahyanie Handari Adi Warsito, SH, Perusahaan mendapatkan fasilitas kredit dari PT Bank Central Asia Tbk. (BCA) sebesar Rp 375.000.000.000 (Rupiah penuh). Jangka waktu kredit selama 1 tahun sejak tanggal 13 Agustus 2009 dan berakhir tanggal 13 Agustus 2010, tingkat bunga kredit sebesar 7,5% per tahun. Perjanjian tersebut telah mengalami perubahan dengan Akta Adendum No.10 tanggal 27 April 2012, sehingga jatuh tempo kredit menjadi 13 Agustus 2013. Total pinjaman bank pada
c. Based on the Deed of Credit Agreement No. 33, dated August 13, 2009, from Notary Ir. Nanette Cahyanie Handari Adi Warsito, SH, the Company obtained credit facility from PT Bank Central Asia Tbk. (BCA) amounting to Rp 375,000,000,000 (full Rupiah), for the period of 1 year since August 13, 2009 and ended August 13, 2010, interest rate equal to 7,5% p.a. The Deed most recently, was amended by the Deed of Amendment No. 10 dated April 27, 2012, so that the maturity has been extended into August 13, 2013. The Total outstanding loan as of December 31, 2012 amounting to Rp 55,000,000,000 (full
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
31 Desember 2012 sebesar Rp 55.000.000.000 (Rupiah penuh). d. Berdasarkan Akta Perjanjian Kredit No.67, tanggal 31 Mei 2010, dari Notaris Poerbaningsih Adi Warsito, SH, Perusahaan mendapatkan fasilitas kredit dari BCA sebesar Rp 1.000.000.000.000 (Rupiah penuh) untuk jangka waktu selama 1 tahun dan berakhir pada tanggal 31 Mei 2011. Akta ini diperpanjang dengan Akta No. 11 tanggal 27 April 2012 dan jatuh tempo pada 31 Mei 2013. Pinjaman ini akan digunakan untuk pembiayaan modal kerja (KMK). Tingkat bunga pinjaman sebesar 7,5% per tahun. Perusahaan wajib membayar provisi kepada BCA sebesar 0,25% per tahun dihitung secara proporsional. Sampai dengan laporan keuangan dibuat, pada tanggal 31 Desember 2012, Perusahaan telah mencairkan fasilitas kredit tersebut sebesar Rp 538.950.000.000 (Rupiah penuh).
d. Based on the Deed of Credit Agreement No. 67, dated May 31, 2010 of Notary Ir. Nanette Cahyanie Handari Adi Warsito, SH, the Company has obtained a loan facility from PT Bank Central Asia Tbk. (BCA) amounted Rp 1,000,000,000,000 (full Rupiah) for the period of 1 year and ended May 31, 2011. The Deed has been extended by the Deed of Amendment No. 11 dated April 27, 2012 and ended on May 31, 2013. The objective of the loan is for financing working capital. The loan interest rate is equal to 7.5% per annum. The Company obliged to pay the provision fee to BCA at 0.25% per annum calculated proportionally. Until the date of the financial statements as of December 31, 2012, the Company has drawdown the loan facility amounting to Rp 538,950,000,000 (full Rupiah).
Pinjaman pada PT Bank Mandiri Tbk. Berdasarkan Akta Perjanjian Kredit No.22, tanggal 09 Agustus 2010, yang telah mengalami perubahan dengan Akta Addendum No.17 tanggal 06 Agustus 2012 dari Notaris Ir. Nanette Cahyani Handari Adi Warsito, SH, Perusahaan memperoleh fasilitas pinjaman sebesar Rp 1.000.000.000.000 (Rupiah penuh) untuk jangka waktu 1 tahun. Tingkat bunga pinjaman sebesar 7,5%. Batas waktu jatuh tempo fasilitas kredit modal kerja tersebut diperpanjang menjadi 08 Agustus 2013. Perusahaan wajib membayar provisi kepada Bank Mandiri sebesar 0,25% per tahun dihitung secara proporsional. Sampai dengan laporan keuangan dibuat, pada tanggal 31 Desember 2012, Perusahaan telah mencairkan fasilitas kredit tersebut sebesar Rp 250.000.000.000 (Rupiah penuh).
Loan from PT Bank Mandiri Tbk. Based on the Deed of Credit Agreement No.22, dated August 09, 2010 which lastly amended by the Deed of Amendment to Credit Agreement No.17, dated August 06, 2012 of Notary Ir. Nanette Cahyani Handari Adi Warsito, SH, the Company has obtained loan facilities amounting to Rp 1,000,000,000,000 (full Rupiah) for a period of 1 year. The loan interest rate is 7.5% per annum. The maturity of this working capital credit facility has been extended to August 08, 2013. The company obliged to pay the provision fee to Bank Mandiri at 0.25% per annum calculated proportionally. Until the date of the financial statements, as of December 31, 2012, the Company has drawdown the loan facility amounting to Rp 250,000,000,000 (full Rupiah).
Pinjaman Sindikasi dengan PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Jabar Banten Tbk, dan PT Bank Bukopin Tbk
Syndicates Loan from PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Jabar Banten Tbk, and PT Bank Bukopin Tbk
a. PT Marga Sarana Jabar Pada tanggal 18 Nopember 2009, Perusahaan mengadakan perjanjian kredit sindikasi antara PT Marga Sarana Jabar dengan PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, dan PT Bank Jabar Banten Tbk berdasarkan Akta Perjanjian Kredit Sindikasi No.64, tanggal 18 Nopember 2009 oleh Notaris Fatimah, SH. Fasilitas kredit yang diberikan adalah maksimum sebesar Rp 1.053.447.000.000 (Rupiah penuh) dan jatuh tempo pada tanggal 6 Maret 2022. Atas pinjaman ini Perusahaan dikenakan suku bunga sebesar 14,16% per tahun untuk pinjaman tahap pertama dan 11.62% pertahun untuk pinjaman tahap kedua. Saldo Per 31 Desember 2012 adalah Rp 299.064.134.070 (Rupiah penuh), dengan jaminan atas pendapatan jalan tol sesuai akta perjanjian No. 43 tanggal 16 Desember 2009 oleh Notaris Fatimah, SH.
a. PT Marga Sarana Jabar On November 18, 2009, the Company obtained syndicate credit agreement between MSJ with PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, and PT Bank Jabar Banten Tbk based on the Deed of Syndicate Credit Agreement No.64 dated November 18, 2009 from Notary Fatimah, SH. Credit facility is granted with maximum limit amounting to Rp 1,053,447,000,000 (full Rupiah) and will end on March 6, 2022, The interest loan rate is 14.16% per annum for the first phase and 11.62% for the second phase. As of December 31, 2012, the outstanding loan amounting to Rp 299,064,134,070 (full Rupiah), provided with collateral in form of toll road revenue as included in the Deed No.43 dated December 16, 2009 of Notary Fatimah, SH.
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Rupiah).
Annual Report 2012
Constructing towards the Future
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
b. PT Marga Nujyasumo Agung Pada tanggal 24 Januari 2007, perusahaan telah mengadakan perjanjian kredit sindikasi dengan PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk dan PT Bank Bukopin, dan telah dikuatkan dengan akta Perjanjian Kredit Sindikasi No.33, tanggal 24 Januari 2007 oleh Fatimah, SH, Notaris di Jakarta. Fasilitas kredit yang diterima perusahaan adalah maksimum sebesar Rp 1.526.000.000.000 (Rupiah penuh) yang terdiri dari Fasilitas Kredit Investasi sebesar Rp 1.374.576.000.000 (Rupiah penuh) dan Fasilitas Bunga Masa Konstruksi (Interest During Construction) sebesar Rp 151.424.000.000 (Rupiah penuh), dengan jangka waktu 44 Triwulan atau 11 tahun termasuk masa tenggang 2 tahun 6 bulan terhitung sejak ditandatanganinya akta dan berakhir pada tanggal 24 Januari 2018. Atas pinjaman ini perusahaan dikenakan suku bunga secara Weighted Average atas dasar suku bunga yang disampaikan oleh masing-masing kreditur kepada agen fasilitas yaitu PT Bank Negara Indonesia Tbk. Untuk pertama kalinya bunga dibebankan sebesar 16% pertahun dengan jaminan antara lain Tagihan atas pendapatan tol dan pendapatan usaha lain yang akan diikat secara fidusia dengan nilai penjaminan sebesar Rp 2.289.000.000.000 (Rupiah penuh). Saldo 31 Desember 2012 sebesar Rp 225.638.562.644 (rupiah penuh).
b. PT Marga Nujyasumo Agung On January 24, 2007, MNA entered into syndicated credit agreement with PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk dan PT Bank Bukopin as put forth into Deed of Syndicated Credit Agreement No.33 dated January 24, 2007 of Fatimah, SH, Notary in Jakarta. The credit facility granted by MNA with the maximum limit of Rp 1,526,000,000,000 (full Rupiah) comprises of Investment Credit Facility amounting to Rp 1,374,576,000,000 (full Rupiah) and Interest During Construction Facility amounting to Rp 151,424,000,000 (full Rupiah), with term of credit for 44 quarter or 11 years including grace period of 2 years and 6 months since the signing of loan agreement deed and will be ended on January 24, 2018. The interest were charge on weighted average rate on the basis of the rate of each bank which were provided to the PT Bank Negara Indonesia Tbk as the agent of the syndicated banks. For the first time interest loan changed was 16% per annum. The outstanding loan as of December 31, 2012 amounting to Rp 225,638,562,644 (full Rupiah, proved with collaterals consisting of toll road revenue and other revenues which are binded fiducially with the amount of guarantee of Rp 2,289,000,000,000 (full Rupiah).
c. PT Trans Marga Jateng Berdasarkan Perjanjian Kredit No. 21 tanggal 11 Desember 2009, Perusahaan mengadakan perjanjian kredit sindikasi dengan PT Bank Negara Indonesia Tbk., PT Bank Mandiri Tbk., PT Bank Rakyat Indonesia Tbk., PT Bank Pembangunan Daerah Jawa Tengah untuk pembiayaan Proyek Jalan Tol Semarang-Solo seksi 1 sebesar maksimum kredit Rp 4.697.960.000.000 (Rupiah Penuh) yang terdiri dari Fasilitas Kredit Tranche I sebesar Rp 2.745.579.000.000 (Rupiah penuh) dan Tranche II sebesar Rp 1.952.381.000.000 (Rupiah penuh). Jangka waktu fasilitas kredit, termasuk masa tenggang terhitung sejak ditandatanganinya akta dan berakhir pada tanggal 6 Maret 2022. Tingkat suku bunga Average Time Deposit untuk jangka waktu 3 bulan dari bank-bank sindikasi yang dimuat di media massa ditambah margin 6% dengan jaminan berupa tagihan atas pendapatan tol dan pendapatan usaha lain yang akan diikat secara fidusia dengan nilai penjaminan sebesar Rp 6.711.371.000.000 (Rupiah penuh). Saldo 31 Desember 2012 sebesar Rp 1.398.867.706.750 (rupiah penuh).
c. PT Trans Marga Jateng Based on the Deed No. 21 dated December 11, 2009 The company had syndicates credit agreement with PT Bank Negara Indonesia Tbk., Pt bank Mandiri Tbk., PT Bank Rakyat Indonesia Tbk., PT Bank Pembangunan Daerah Jawa Tengah for financing Semarang-Solo Toll Road Project Section I amounting to Rp 4,697,960,000,000 (full Rupiah) comprises of investment scheme facilities for Tranche I amounting to Rp 2,745,579,000,000 (full Rupiah) and Tranche II amounting to Rp 1,952,381,000,000 (full Rupiah). Credit Facility period included grace period start since signed loan agreement deed and it will be ended on March 6, 2022. The Weighted Average Time Deposit Rate for 3 months period from syndicated banks plus 6% for margin with collateral toll revenue and others revenues and will bonded fiducially amounting to Rp 6,711,371,000,000 (full Rupiah). As of December 31, 2012, the outstanding loan was Rp 1,398,867,706,750 (full Rupiah).
d. Marga Lingkar Jakarta Berdasarkan Perjanjian Kredit Sindikasi No.13 tanggal 13 Oktober 2011, MLJ menandatangani perjanjian kredit sindikasi dengan PT Bank Mandiri Tbk. dan PT Bank DKI untuk pembiayaan proyek pembagunan jalan tol Lingkarluar Jakarta Seksi W2 Utara dengan maksimum kredit Rp 1.554.000.000.000 (Rupiah penuh) termasuk
d. Marga Lingkar Jakarta Based on the Deed of Syndicates Credit No.13 dated October 13, 2011, MLJ signed syndicates credit agreement with PT Bank Mandiri Tbk. and PT Bank DKI for financing Jakarta Outer Ring Road Section W2 North with ceiling of Rp 1,554,000,000,000 (full Rupiah) including Interest During Construction (IDC)
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
IDC Rp 168.000.000.000 (Rupiah penuh). Jangka waktu fasilitas kredit adalah 15 tahun sejak ditandatanganinya akta. Tingkat suku bunga untuk 1 tahun pertama adalah 10%, untuk selanjutnya menggunakan tingkat suku bunga Average Time Deposit untuk jangka waktu 3 bulan dari bank-bank sindikasi yang dimuat di media massa ditambah margin 4%. Saldo per 31 Desember 2012 sebesar Rp 306.422.259.528 (Rupiah penuh).
Rp 168,000,000,000 (full Rupiah). The Maturity Date of Credit is 15 years which be effective since the signing of the Deed. The Interest Rate is 10% per annum for the first year and for the remaining years using 3 months of Average Time Deposit Rate from syndicated banks plus 4% of margin. The outstanding credit as of December 31, 2012 amounting to Rp 306,422,259,528 (full Rupiah).
e. Jasamarga Bali Tol Berdasarkan Akta Perjanjian Kredit Sindikasi No. 79 tanggal 22 Juni 2012, PT JBT telah memperoleh fasilitas Kredit Investasi (KI) Sindikasi Pembiayaan Proyek Jalan Tol Nusa Dua – Ngurah Rai – Benoa dari PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, PT Bank Tabungan Negara (Persero) Tbk dan PT Bank Pembangunan Daerah Bali dengan jumlah maksimum kredit sebesar Rp 1.622.000.000.000 IDC sebesar (Rupiah penuh) termasuk Rp 117.300.000.000 (Rupiah penuh). Jangka waktu fasilitas kredit adalah 15 tahun sejak ditandatanganinya akta. Tingkat suku bunga untuk 1 tahun pertama adalah 10%, untuk selanjutnya menggunakan tingkat suku bunga Simple Interest Rate ditambah marjin sebesar 5%. Saldo per 31 Desember 2012 sebesar Rp 469.507.288.044 (Rupiah penuh).
e. Jasamarga Bali Tol Based on the Deed of Syndicates Credit No.79 dated June 22, 2012, PT JBT signed syndicates credit agreement with PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, PT Bank Tabungan Negara (Persero) Tbk dan PT Bank Pembangunan Daerah Bali for financing Nusa Dua – Ngurah Rai – Benoa Toll Road Project with ceiling of Rp 1,622,000,000,000 (full Rupiah) including Interest During Construction with ceiling of Rp 117,300,000,000 (full Rupiah). The Maturity Date of Credit is 15 years which be effective since the signing of the Deed. The Interest Rate is 10% per annum for the first year and for the remaining years using Simple Interest Rate from syndicated banks plus 5% of margin. The outstanding credit as of December 31, 2012 amounting to Rp 469,507,288,044 (full Rupiah).
f. Margabumi Adhikaraya Berdasarkan Perjanjian Kredit Sindikasi No. 38 tanggal 12 Juni 2012, PT Margabumi Adhikaraya menandatangani perjanjian kredit sindikasi dengan PT Bank Mandiri Tbk, PT Bank DKI, PT BPD Jabar dan Banten, PT BPD Jatim untuk pembiayaan proyek pembagunan jalan tol Gempol Pandaan dengan maksimum kredit Rp 733.000.000.000 (Rupiah penuh) termasuk IDC Rp 84.000.000.000 (Rupiah penuh). Jangka waktu fasilitas kredit adalah 15 tahun sejak ditandatanganinya akta. Tingkat suku bunga untuk 1 tahun pertama adalah 10,50%, untuk selanjutnya menggunakan tingkat suku bunga Simple Interest Rate ditambah margin 5,25%. Saldo per 31 Desember 2012 sebesar Rp 64.282.743.628 (Rupiah penuh).
f. Margabumi Adhikaraya Based on the Deed of Syndicates Credit No. 38 dated June 12, 2012, PT Margabumi Adhikaraya signed syndicates credit agreement with PT Bank Mandiri Tbk, PT Bank DKI, PT BPD Jabar dan Banten, PT BPD Jatim for financing Gempol –Pandaan Toll Road with ceiling of Rp 733,000,000,000 (full Rupiah) including Interest During Construction (IDC) Rp 84,000,000,000 (full Rupiah). The Maturity Date of Credit is 15 years which be effective since the signing of the Deed. The Interest Rate is 10.50% per annum for the first year and for the remaining years using Simple Interest Rate from syndicated banks plus 5.25% of margin. The outstanding credit as of December 31, 2012 amounting to Rp 64,282,743,628 (full Rupiah).
18. Utang Usaha
18. Accounts Payable
Merupakan utang kepada pemasok untuk pengadaan barang cetakan, alat tulis kantor, karcis tol, obat-obatan dan pakaian dinas serta utang usaha atas jasa pemeliharaan dan pembersihan jalan tol.
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Constructing towards the Future
Represent payables to suppliers associated with the procurement of printing goods, office stationery, toll tickets, medicine, uniform, toll road maintenance and cleaning services.
59
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
2011
2012 Rp
Rp
Pihak Ketiga Pihak Berelasi Koperasi Jasa Marga Bhakti Tim Pembebasan Tanah (TPT) PT Aneka Tambang (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk PT Ismawa Trimitra PT Bank Negara Indonesia (Persero) Tbk Karyawan Lainnya Total Pihak Berelasi
82,190,871
130,538,503
3,905,862 1,853,205 1,686,306 1,237,940 461,604 270,385 119,132 318,322 9,852,756
Third Parties Related Parties
1,460,256 3,216,586
331,023 444,723 5,603,277
Koperasi Jasa Marga Bhakti Tim Pembebasan Tanah (TPT) PT Aneka Tambang (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk PT Ismawa Trimitra PT Bank Negara Indonesia (Persero) Tbk Karyawan Others Total Related Parties
Total
92,043,627
136,141,780
Total
---
150,689
--
19. Utang Kontraktor
19. Contractors Payable
Merupakan utang kepada kontraktor, konsultan dan rekanan sehubungan dengan pembangunan jalan, pelapisan ulang, pengadaan fasilitas tol dan bangunan lain.
Represents payables to contractors, consultants and partners associated with the construction of roads, overlay, and procurement of toll facilities and other buildings.
2012 Rp Pihak Berelasi Pihak Ketiga Total
2011 Rp
1,094,451,677 230,562,490 1,325,014,167
319,779,286 289,141,755 608,921,041
Rincian utang kontraktor berdasarkan nama kontraktor sebagai berikut :
Pihak Berelasi PT Waskita Karya (Persero) Tbk Wika - Adhi - Hutama JO PT Wijaya Karya (Persero) Tbk PT Adhi Karya (Persero) Tbk PT Pembangunan Perumahan (Persero) Tbk PT Istaka Karya (Persero) PT Nindya Karya (Persero) Sub Total
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Related Parties Third Parties Total
The details of contractos payable by the name of contractors are as follows:
2012 Rp
2011 Rp
478,061,112 273,011,569 180,572,791 100,658,612 46,272,945 12,581,649 3,292,999 1,094,451,677
138,382,126
--
107,926,989 42,329,672 5,241,941 25,898,558
--
Related Parties PT Waskita Karya (Persero) Tbk Wika - Adhi - Hutama JO PT Wijaya Karya (Persero) Tbk PT Adhi Karya (Persero) Tbk PT Pembangunan Perumahan (Persero) Tbk PT Istaka Karya (Persero) PT Nindya Karya (Persero)
319,779,286
60
Sub Total
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
Pihak Ketiga Module Intracs Yasatama PT Widya Sapta Colas Panca Tunggal Sarana Konstruksindo Utama PT Wiga Nusantara S PT Jaya Konstruksi Manggala Pratama Tbk PT Area Bangun PS PT Aremix Planindo PT Perkasa Adi Guna PT Sarana Dwi Makmur PT Lagagenis Insuko PT Widya Satria PT Nusantara Compnet I PT Sumber Mitra Jaya PT Multi Structure Lain-lain (dibawah 2 Miliyar) Sub Total Total
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
2012 Rp
2011 Rp
41,090,656 13,475,498 9,214,027 6,206,485 4,369,311 4,241,828 3,510,996 3,210,277 2,593,012 2,442,809 2,211,964
32,007,812 6,027,435
-----
137,995,626 230,562,490 1,325,014,168
-------
2,253,174
---
9,841,696 9,673,679 8,931,786 9,786,026 210,620,147 289,141,755 608,921,041
20. Utang Lain-lain
20. Other Payables 2012 Rp
Pihak Berelasi PT Jatim Marga Utama PT Trans Lingkar Kita Jaya Sub Total Pihak Ketiga Sumbangan Area Pramuka Cibubur & TMII Lainnya Sub Total Total
2011 Rp
9,858,000
--
9,858,000
2,388,715 24,137,323 26,526,038 36,384,038
9,858,000 10,830,000 20,688,000
Related Parties PT Jatim Marga Utama PT Trans Lingkar Kita Jaya Sub Total
2,388,715 19,555,487 21,944,202 42,632,202
Third Parties Contribution to Cibubur Scout & TMII Others Sub Total Total
Utang kepada PT Translingkar Kita Jaya (TLKJ) merupakan pinjaman modal kerja dari TLKJ kepada PT Jalantol Lingkarluar Jakarta (Entitas anak).
Payable to PT Translingkar Kita Jaya (TLKJ) represents working capital loan from TLKJ to PT Jalantol Lingkarluar Jakarta (the Subsidiary).
Utang kepada PT Jatim Marga Utama (JMU) merupakan setoran modal sebagai penyertaan pada JMU yang diterima kembali oleh Perusahaan pada bulan April 2003.
Payable to PT Jatim Marga Utama (JMU) represents payment related to the Company's investment in JMU that was received by the Company in April 2003.
Sumbangan Area Pramuka Cibubur dan Taman Mini Indonesia Indah merupakan sumbangan Perusahaan kepada Kwartir Nasional Gerakan Pramuka dan Taman Mini Indonesia lndah yang didasarkan pada Keputusan Presiden No.14 Tahun 1981 tentang penggunaan sebagian dari
Contribution to Cibubur Scout Area and Taman Mini Indonesia lndah (TMII) represents the Company's contribution to Kwartir Nasional Gerakan Pramuka Cibubur and TMII that is based on Presidential Decree No.14 year 1981 regarding the use of a portion of toll revenue at the
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Third Parties Module Intracs Yasatama PT Widya Sapta Colas Panca Tunggal Sarana Konstruksindo Utama PT Wiga Nusantara S PT Jaya Konstruksi Manggala Pratama Tbk PT Area Bangun PS PT Aremix Planindo PT Perkasa Adi Guna PT Sarana Dwi Makmur PT Lagagenis Insuko PT Widya Satria PT Nusantara Compnet I PT Sumber Mitra Jaya PT Multi Structure Others (Under 2 Billion) Sub Total Total
Annual Report 2012
Constructing towards the Future
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
pendapatan tol pada pintu gerbang menuju/dari Taman Mini Indonesia lndah dan Arena Pramuka Cibubur. Namun, sejak tanggal 26 Januari 2008, Pemerintah mengeluarkan Peraturan Presiden No.3 Tahun 2008 mengenai pencabutan Keputusan Presiden No.14 Tahun 1981.
gateway to/from Taman Mini Indonesia Indah and Cibubur Scout Area Toll gates. However, since the date of January 26, 2008, the Government issued Presidential Regulation No.3 year 2008 for the revocation of the Presidential Decree No.14 year 1981.
21. Beban Akrual
Beban Bunga Obligasi Hutang BCA Hutang Bank Sindikasi Hutang Bank Mandiri Bantuan Pemerintah Beban Gaji dan Tunjangan Beban Umum dan Administrasi Beban Kerjasama Operasi Lain-lain Total
21. Accrued Expenses 2012 Rp
2011 Rp
114,176,093 17,326,813 3,534,016 2,760,417 134,659 123,235,535 84,060,590 66,890,996 25,197,993 437,317,112
114,203,212 18,481,933
--
2,944,444 482,003 93,371,403 147,564,698 67,860,122 35,164,628 480,072,443
22. Utang Bantuan Pemerintah
Interest Expenses Bonds Bank Loans BCA Syndicated Bank loan Bank Mandiri Loan Loan from Government Salaries and allowances Expenses General and Administrative Expenses Joint Operation Expenses Others Total
22. Loan from Goverment 2012 Rp
2011 Rp
Utang Bantuan Pemerintah
5,886,734
20,329,636
Loan from Government
Dikurangi:Bagian Jangka Pendek
5,886,734
14,442,902
Less:Current Maturities
--
5,886,734
Non - Current Maturities
Bagian Jangka Panjang
Dalam pembiayaan pembangunan jalan tol, Perusahaan memperoleh pinjaman dari Pemerintah Republik Indonesia. Perusahaan melakukan penarikan pinjaman tersebut sesuai dengan mata uang yang ditagih oleh kontraktor dan dibayarkan langsung oleh Bank Indonesia melalui Bank Penatausaha yang ditunjuk. Penarikan pinjaman dikonversi ke dalam mata uang Rupiah berdasarkan kurs Bank Indonesia pada tanggal penarikan dan dinyatakan sebesar ekuivalen Rupiah pada tanggal penarikan. Pembayaran utang ini dilakukan secara angsuran setiap 6 bulan sejak bulan Juni 1998.
In toll road construction financing, the Company obtained a loan from the Government of the Republic of Indonesia. The Company drew down the loan in accordance with the currency billed by the contractor and paid directly by the Bank Indonesia via appointed Bank Penatausaha. Withdrawal of loans converted into Rupiah exchange rate of Bank Indonesia on the withdrawal date and are stated at the equivalent amount on the date of withdrawal. Repayment of this loan is done in installments every 6 months since June 1998.
Jumlah utang bantuan Pemerintah menurut tahun jatuh tempo sebagai berikut :
The amounts of remaining repayments for loans from Government by the year of maturity are as follows:
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Tahun Jatuh Tempo/ Year of Maturity
Total Rp
2013
5,886,734
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
23. Liabilitas Kerjasama Operasi
23. Joint Operation Liabilities
Merupakan liabilitas kerjasama operasi kepada investor dalam pembiayaan pembangunan aset tetap jalan tol.
Represents liabilities under joint operation agreements to investors arising from acquisition of toll road assets.
2012 Rp
2011 Rp
Bagi Pendapatan Tol Sub Total Bagian Jatuh Tempo Setelah Satu Tahun : Bagi Pendapatan Tol Sub Total
820,302 820,302
820,302 820,302
Toll Revenue Sharing Sub Total Non Current Maturities:
21,385,911 21,385,911
23,983,532 23,983,532
Toll Revenue Sharing Sub Total
Total
22,206,213
24,803,834
Total
24. Utang Sewa Guna Usaha
24. Financial Lease Payable
Perusahaan mengadakan kerjasama dengan PT Module Intracs Yasatama, PT New Module Int Efkom AG untuk Pekerjaan Pengadaan dan Pemeliharaan Peralatan Tol pada Jalan Tol Jakarta - Cikampek, Jalan Tol Cipularang, dan Jalan Tol Padaleunyi dengan Sistem Pendanaan dari Pihak Kontraktor, selanjutnya Pihak Kontraktor menyewakan peralatan tol kepada Perusahaan untuk jangka waktu 8 (delapan) tahun terhitung sejak ditandatanganinya Berita Acara Pengoperasian.
The Company entered into a joint operation with PT Module Intracs Yasatama, PT New Module Int Efkom AG for Work Procurement and Maintenance of Toll Equipments at JakartaCikampek Toll Road, Cipularang Toll Road, and Padaleunyi Toll Road under Financing System from the Contractor, then the Contractor party would rent such toll equipments to the Company for a period of 8 (eight) years from the signing of the Minutes of Operation.
Saldo utang sewa pembiayaan kepada PT Module Intracs Yasatama pada tanggal 31 Desember 2012 dan 2011 sebagai berikut:
Total of the financial lease payable to PT Module Intracs Yasatama as of December 31, 2012 and 2011 as follows:
Utang Sewa Pembiayaan Bagian yang Jatuh Tempo Dalam Waktu Satu Tahun Bagian Jangka Panjang
2012 Rp
2011 Rp
45,827,503
66,764,085
Fianancial Lease Payable
(18,471,092) 27,356,411
(12,121,937) 54,642,148
Current Maturities Non - Current Maturities
25. Pendapatan Diterima Dimuka
25. Unearned Revenue
Merupakan pendapatan sewa iklan, lahan, tempat peristirahatan, dan pendapatan lain yang diterima di muka atas pemanfaatan Ruang Milik Jalan Tol (Rumijatol).
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Represents revenue received from rental of advertisements, space and rest areas, and other unearned revenue for use of the Space Owned Toll Road Area (Rumijatol).
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
26. Liabilitas Pembebasan Tanah
26. Land Acquisition Liabilities
Merupakan liabilitas Perusahaan atas dana talangan pembelian tanah, untuk pembangunan ruas Jalan, dengan menggunakan dana talangan Badan Layanan Umum Badan Pengatur Jalan Tol. Penggunaan dana talangan tersebut oleh PT Marga Nujyasumo Agung adalah untuk pembangunan ruas jalan tol Surabaya - Mojokerto. Selain hal tersebut, kewajiban pembebasan tanah juga diperuntukkan dalam pelunasan ganti rugi pelebaran Jalan Tol Sedyatmo.
Represent liabilities of the Company for the bail out loan for land acquisition, for construction of roads by using bail out from the Public Service Assistance Unit - the Indonesian Toll Road Authority (ITRA). The use of bail out funds by PT Marga Nujyasumo Agung is for construction of Surabaya Mojokerto toll road. In addition to this, the land acquisition is also intended liability in the settlement redress widening of Sedyatmo toll road.
27. Utang Obligasi
27. Bond Payables 2012 Rp
2011 Rp
Obligasi Jasa Marga XIII Seri R
1,500,000,000
1,500,000,000
Jasa Marga Bond XIII - R Series
Obligasi Jasa Marga XII Seri Obligasl Jasa Marga XI Seri P Obligasi Jasa Marga XIV Seri JM-10 Obligasi Jasa Marga I Seri JM-10 Obligasi Jasa Marga JORR I Obligasi Jasa Marga JORR II Total
1,000,000,000 1,000,000,000 1,000,000,000 500,000,000 271,616,920 259,154,384 5,530,771,304
1,000,000,000 1,000,000,000 1,000,000,000 500,000,000 271,616,920 259,154,384 5,530,771,304
Jasa Marga Bond XII - Q Series Jasa Marga Bond Xl - P Series Jasa Marga Bond XIV -JM-10 Series Jasa Marga Bond I -JM-10 Series Jasa Marga Bond -JORR Jasa Marga Band - JORR II Total
Biaya Penerbitan yang Belum Diamortisasi Total Utang Obligasi Bagian Bagian yang yang Jatuh Jatuh Tempo Tempo Dalam Dalam Satu Tahun
(9,707,802) 5,521,063,502
(14,285,893) 5,516,485,411
(1,771,616,920) 3,749,446,582
5,516,485,411
Unamortized Bond Issuance Cost Total Bond Payable Current Maturities Current Maturities
Utang Obligasi Bagian Jangka Panjang
Jumlah pelunasan utang obligasi menurut tahun jatuh tempo adalah sebagai berikut:
--
Bond Payable of Non Current Maturities
The amounts of repayments of bonds payable by the year of maturity are as follows:
Tahun Jatuh Tempo Year of Maturity
Total Rp 1,771,616,920 76,454,384 1,000,000,000 1,500,000,000 78,300,000 1,000,000,000 104,400,000 5,530,771,304
2013 2015 2016 2017 2018 2020 2021 Total
Persyaratan rasio keuangan Perusahaan berdasarkan perjanjian obligasi adalah Rasio Utang terhadap Ekuitas maksimal 5:1 dan Interest Coverage Ratio minimal 1,25: 1.
The Company's financial ratio requirements of all bonds payable are Debt to Equity Ratio maximum of 5:1 and Interest Coverage Ratio (ICR) minimum of 1.25:1.
a. Obligasi Jasa Marga XIII Seri R Tahun 2007 Berdasarkan Akta No.26, tanggal 4 Mei 2007, Akta Adendum 1 No.10, tanggal 6 Juni 2007, Perjanjian Perwaliamanatan Obligasi Jasa Marga XIII Seri R Tahun 2007 dari Notaris Poerbaningsih Adi Warsito, SH,
a. Jasa Marga Bond XIII Series R Year 2007 Pursuant to the Deed No.26 dated May 4, 2007, the Deed of Addendum 1 No.10, dated June 6, 2007, and Bond Trustee Agreement of Jasa Marga XIII Series R Year 2007 of Notary Poerbaningsih Adi Warsito, SH, with a par value of
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dengan nilai nominal obligasi Rp 1.500.000.000.000 (Rupiah penuh), tingkat bunga tetap sebesar 10,25% per tahun. Obligasi ditawarkan dengan nilai 100% dari jumlah pokok. Bunga obligasi dibayarkan setiap triwulan. Jangka waktu obligasi yaitu 10 tahun, jatuh tempo 21 Juni 2017. Bertindak selaku wali amanat adalah PT Bank Mega Tbk. Peringkat obligasi adalah idA+ dari PT Pemeringkat Efek Indonesia (Pefindo).
Rp 1,500,000,000,000 (full Rupiah), a fixed interest rate of 10.25% per annum. The bonds were offered at 100% of the principal amount. Bond interest payable quarterly. The timing of 10-years bonds, maturing June 21, 2017. Acting as trustee is PT Bank Mega Tbk. The bond ratings are idA+ by PT Pemeringkat Efek Indonesia (Pefindo),
Berdasarkan Akta Addendum I Perjanjian Perwaliamanatan Obligasi Jasa Marga XIII Seri R, tujuan penerbitan obligasi tersebut adalah untuk melunasi sebagian pinjaman (refinancing) Bank BCA, Bank Mandiri, Bank Bukopin, Bank Jabar dan utang bantuan pemerintah dengan proporsi masing-masing sekitar 48%, 25%, 10%, 14%, dan 3%.
Based on the Deed of Agreement Addendum I of the Trustee Agreement for Jasa Marga Bond XIII Series R, the Company issued these bonds to partially repay of outstanding bank loans due to bank BCA, bank Mandiri, bank Bukopin, bank Jabar and loan from government in the following proportions: 48%, 25%, 10%, 14%, and 3%, respectively.
b. Obligasi Jasa Marga XII Seri Q Tahun 2006 Berdasarkan Akta No.66, tanggal 18 Mei 2006, Akta Addendum I No.74, tanggal 19 Juni 2006, dan Akta Addendum II No.89, tanggal 26 Juni 2006, Perjanjian Perwaliamanatan Obligasi Jasa Marga XII Seri Q Tahun 2006, dari Notaris Imas Fatimah, SH, dengan nilai nominal obligasi sebesar Rp 1.000.000.000.000 (Rupiah penuh), tingkat bunga tetap sebesar 13,5% per tahun. Obligasi ini ditawarkan dengan nilai 100% dari jumlah pokok obligasi. Bunga obligasi dibayarkan setiap triwulan. Jangka waktu penyelesaian obligasi yaitu 10 tahun, jatuh tempo 6 Juni 2016. Bertindak selaku wali amanat adalah PT Bank Permata Tbk. Peringkat obligasi tersebut adalah idA+ dari Pefindo.
b. Jasa Marga Bond XII Series Q Year 2006 Pursuant to the Deed No.66 dated may 18, 2006, the Deed of Addendum I No.74 dated June 19, 2006, and the Deed of Addendum II No. 89 dated June 26, 2006, and Bond Trustee Agreement of Jasa Marga Bond XII Series Q Year 2006 of Notary Imas Fatimah, SH, the par value of the bonds is Rp 1,000,000,000,000 (full Rupiah), with a fixed interest rate of 13.5% per annum. The bonds were offered at 100% of principal amount. Bond interest payable quarterly. The timing of 10 years bond, maturing June 6, 2016. Acting as trustee of this bond is PT Bank Permata Tbk. The bond ratings arerated idA+ by Pefindo.
Berdasarkan Akta Addendum II Perjanjian Perwaliamanatan Obligasi Jasa Marga XII Seri Q, tujuan penerbitan obligasi tersebut adalah untuk melunasi sebagian pinjaman (refinancing) bank BCA, bank Mandiri, bank BNI, dan bank Jabar dengan proporsi masing-masing sekitar 15%, 28%, 53%, dan 4%.
Based on the Deed of Addendum II of the Trustee Agreement for Jasa Marga Bond XII Series Q, the Company's purpose issued the bonds is to repay part of the loans (refinancing) due to Bank BCA, Bank Mandiri, Bank BNI and Bank Jabar in the following proportions: 15%, 28%, 53%, and 4%, respectively..
C. Obligasi Jasa Marga XI Seri P Tahun 2003 Pada September 2003, Perusahaan memperoleh pernyataan efektif dari Ketua Badan Pengawas Pasar Modal (BAPEPAM) untuk menerbitkan Obligasi Jasa Marga XI Seri P Tahun 2003. Nilai nominal obligasi adalah Rp 1.000.000.000.000 (Rupiah penuh) dengan tingkat bunga tetap sebesar 12,3% per tahun untuk bunga ke-1 sampai bunga ke-20,13% untuk bunga ke 21 sampai bunga ke-40. Obligasi ini ditawarkan dengan nilai 100% dari jumlah pokok obligasi. Bunga dibayarkan setiap 3 bulan. Jangka waktu penyelesaian obligasi yaitu 10 tahun dengan jatuh tempo pada 10 Oktober 2013. Pada bulan September 2003, obligasi tersebut telah dicatatkan pada Bursa Efek Surabaya. Bertindak selaku wali amanat adalah PT Bank Mega Tbk. Peringkat obligasi tersebut adalah idA+ dari Pefindo.
C. Jasa Marga Bond XI - Series P Year 2003 In September 2003, the Company received an effective statement from the Chairman of Capital Market Supervisory Agency (BAPEPAM) for offering Jasa Marga Bond XI Series P Year 2003. The par value of the bonds is Rp 1,000,000,000,000 (full Rupiah) with a fixed interest rate of 12.3% per annum for the first up to the twentieth interest payment, and 13% for the twenty first up to the fortieth interest payment. The bonds were offered at 100% of the principal amount. The interest is paid quarterly. The timing of 10-years bonds, maturing October 10, 2013. The bonds were listed at the Surabaya Stock Exchange in September 2003. Acting as trustee of this bond is PT Bank Mega Tbk. The bond ratings are idA+ by Pefindo.
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
d. Obligasi Jasa Marga JORR I Tahun 2003 Berdasarkan Akta Perjanjian Penyelesaian Utang JORR No.44, tanggal 19 Nopember 2003 dari Notaris Imas Fatimah, SH, Perusahaan berkewajiban untuk menyelesaikan utang JORR kepada kreditur JORR sejumlah Rp 1.070.251.000.000 (Rupiah penuh). Sebagai bagian dari pelaksanaan perjanjian tersebut, pada tanggal 29 Nopember 2003 Perusahaan menyelesaikan utang JORR Seksi non S sejumlah Rp 548.521.000.000 (Rupiah penuh) melalui pembayaran tunai, sejumlah Rp 274.260.500.000 (Rupiah penuh) dan sisanya sejumlah Rp 274.260.500.000 (Rupiah penuh) dilunasi dengan penerbitan Obligasi Jasa Marga JORR I Tahun 2003. Obligasi tersebut tidak terdaftar di bursa.
d. Jasa Marga Bond JORR 1 Year 2003 Based on the Deed of JORR Debt Settlement No.44, dated November 19, 2003 of Notary Imas Fatimah, SH, the Company has committed to settle debts to JORR creditors amounting to Rp1,070,251,000,000 (full Rupiah). As part of performance of this commitment, on November 29, 2003 the Company settled the JORR debt other than in respect of JORR Section non S amounted to Rp 548,521,000,000 (full Rupiah) by cash payment amounting to Rp 274,260,500,000 (full Rupiah) and by issuance of Jasa Mama Bond JORR I Year 2003 for the remaining Rp 74,260,500,000 (full Rupiah). The bonds are not listed on any bourse.
Berdasarkan Akta Perjanjian Penerbitan Obligasi Jasa Marga JORR I Tahun 2003 No.44, tanggal 9 Nopember 2003 yang dibuat di hadapan Notaris Imas Fatimah, SH, Perusahaan menerbitkan obligasi Jasa Marga JORR I Tahun 2003 dengan nilai nominal obligasi sebesar Rp 274.260.500.000 (Rupiah penuh) dengan tingkat suku bunga berdasarkan tingkat suku bunga Sertifikat Bank Indonesia (SBI) 3 bulanan yang dihitung selama rata-rata 6 (enam) bulan. Bunga dibayarkan setiap tanggal 2 Januari dan 1 Juli. Obligasi ini berjangka waktu 10 tahun dengan jatuh tempo pada 19 Nopember 2013.
Based on the Deed of Bond Issuance Agreement Jasa Marga Bond JORR I Year 2003 No.44, dated November 9, 2003 of Notary Imas Fatimah, SH, the Company issued Jasa Marga Bond JORR I Year 2003 at par value amounting to Rp 274,260,500,000 (full Rupiah) with interest rate based on the average interest rate of 3months Certificates of Bank Indonesia (SBI), calculated over 6 months average. The interest is paid on January 2 and July 1. The bonds have a term of 10 years with the maturity date on November 19, 2013.
Berdasarkan Akta Perjanjian Perwaliamanatan No.45, tanggal 29 Nopember 2003 dari Notaris Imas Fatimah, SH, obligasi tersebut terdiri dari 2 sertifikat yang dimiliki oleh PT Perusahaan Pengelola Aset (Persero) dengan nominal Rp 224.900,208.364 (Rupiah penuh) dan 18 sertifikat yang dimiliki oleh 18 kreditur lain dengan nilai keseluruhan Rp 46.716.711.824 (Rupiah penuh).
Based on the Deed of Bond Trustee Agreement No.45 dated November 29, 2003 of Notary Imas Fatimah, SH, the bonds have 2 (two) certificates owned by PT Perusahaan Pengelola Aset (Persero) at par value of Rp 224,900,208,364 (full Rupiah) and 18 certificates owned by 18 creditors with a total value amounting to Rp 46,716,711,824 (full Rupiah).
e. Obligasi Jasa Marga XIV Seri JM-10 Tahun 2010 Pada Oktober 2010, Perusahan memperoleh pernyataan efektif dari Badan Pengawas Pasar Modal (BAPEPAM) untuk menerbitkan Obligasi Jasa Marga XIV Seri JM-10 tahun 2010. Nilai nominal obligasi adalah Rp 1.000.000.000.000 (Rupiah penuh) dengan tingkat bunga tetap 9,35% per tahun. Obligasi ini ditawarkan dengan nilai 100% dari jumlah pokok obligasi. Bunga obligasi dibayarkan setiap triwulan. Jangka waktu penyelesaian obligasi yaltu 10 tahun, jatuh tempo 12 Oktober 2020. Bertindak selaku wali amanat PT Bank Mega Tbk. Berdasarkan surat No.1044/PEFDirN11/2010 tanggal 29 Juli 2010 dari Peringkat Obligasi tersebut PT Pemeringkat Efek Indonesia (Pefindo) adalah idAA+ (double A; Stable Outlook).
e. Jasa Marga Bonds XIV Series JM-10 Year 2010 In October 2010, the Company received an effective statement from the Chairman of Capital Market Supervisory Agency (BAPEPAM) for offering Jasa Marga Bond XIV Series JM-10 year 2010. The par value of bonds is Rp 1.000.000.000.000 (full Rupiah) with fixed interest rate of 9.35% per annum. The bonds were offered at 100% of the principal amount. The interests paid quarterly. The timing of 10-years bond, maturing October 12, 2020. Acting as trustee of the bonds is PT Bank Mega Tbk. Based on letters No.1044/PEFDirN11/2010 dated July 29, 2010, the bonds rated by PT Pemeringkat Efek Indonesia (Pefindo) is idAA+ (double A; Stable Outlook).
Berdasarkan Akta Perjanjian Penjamin Efek Obligasi tanggal 4 Agustus 2010 juncto Addendum 1 Akta Perjanjian Penjamin Emisi Efek Obligasi No.45 tanggal 26 Agustus 2010 tujuan penerbitan obligasi adalah untuk pelunasan Obligasi Jasa Marga X Seri O Tahun 2002,
Based on the Deed of Bond Issuance Agreement dated August 4, 2010 in conjunction with Addendum 1 of the Deed of Bond Issuance Agreement No.45 dated August 26, 2010, the purpose of issued the bonds is for settlement the Jasa Marga Bonds X Series O Year 2002,
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
percepatan pelunasan Kredit Investasi Bank BCA, pengembangan investasi pada bidang usaha non-tol (bidang properti, bidang teknologi informasi dan komunikasi, serta bidang engineering), dan pembiayaan modal kerja Perusahaan dengan proporsi masing-masing 43%, 27%, 25%, dan 5%.
accelerated settlement of the Investment Credit due to Bank BCA, non-toll investment development (property, information technology and communication, and also engineering), and financing the Company's working capital with the following proportions: 43%, 27%, 25%, and 5%.
f. Obligasi Jasa Marga I Seri JM-1D Tahun 2010 Pada bulan Oktober 2010, Perusahaan memperoleh pernyataan efektif dari Badan Pengawas Pasar Modal (BAPEPAM) untuk menerbitkan Obligasi Jasa Marga I Seri JM-10 tahun 2010. Nilai nominal Obligasi Tanpa Bunga adalah Rp 500.000.000.000 (Rupiah penuh), jangka waktu 3 (tiga) tahun. Obligasi ini ditawarkan dengan dengan nilai 77,0062% dari jumlah pokok Obligasi Tanpa Bunga. Bertindak selaku wali amanat PT Bank Mega Tbk. Peringkat obligasi tersebut adalah IdAA+ dari Pefindo. Pembayaran pokok Obligasi Tanpa Bunga dilakukan secara penuh (bullet payment) sebesar 77,0062% dari pokok pada saat tanggal jatuh tempo yaitu 12 Oktober 2013.
f. Jasa Marga Bonds 1 Series JM-10 Year 2010 In October 2010, the Company received an effective statement from the Chairman of Capital Market Supervisory Agency (BAPEPAM) for offering Jasa Merga Bond I Series JM-10 year 2010. The par value of the Non-Interest Bonds is Rp 500.000.000.000 (full amount) with the terms of the bonds is 3 years. The bonds offered at 77.0062% the principal amount of the Non-Interest Bonds. Acting as trustee is PT Bank Mega Tbk. The bonds rated by PT Pemeringkat Efek Indonesia (Pefindo) is idAA+ (double A; Stable Outlook). The principal payment of the Non-Interest Bonds are made in bullet payment equal to 77.0062% of the principal amount on due date of October 12, 2013.
Berdasarkan Akta Perjanjian Penjamin Emisi Efek Obligasi tanggal 4 Agustus 2010 juncto Addendum 1 Akta Perjanjian Penjaminan Emisi Efek Obligasi No. 45 tanggal 26 Agustus 2010 tujuan penerbitan obligasi tersebut adalah untuk pelunasan Obligasi Jasa Marga X Seri O sebesar 43%, di mana 27% untuk percepatan pelunasan Kredit lnvestasi pada PT Bank Central Asia (BCA) Tbk, 25% untuk pengembangan investasi pada bidang usaha non-tol (bidang properti, bidang teknologi informasi dan komunikasi, serta bidang engineering) dan 5% untuk pembiayaan modal kerja Perusahaan
Based on the Deed of Bond Issuance Agreement dated August 4, 2010 in conjunction with Addendum 1 of the Deed of Bond Issuance Agreement No. 45 dated August 26, 2010, the purpose of the bonds issuance is for settlement the Jasa Marga Bonds X Series O Year 2002 that equal to 43%, where in 27% proportion for accelerated settlement of the investment credit due to Bank BCA, 25% for non-toll investment development (property, information technology and communication, and also engineering), and 5% proportion for financing the Company's working capital.
g. Obligasi Jasa Marga JORR II Tahun 2005 Berdasarkan Akta Perjanjian Penerbitan Obligasi Jasa Marga JORR II Tahun 2005 No.2 tanggal 5 Januari 2006, Perusahaan menerbitkan obligasi dengan nilai nominal sebesar Rp 261.000.000.000 (Rupiah penuh) yang terbagi dalam 3 Tranche, sebagai berikut:
g. Jasa Marga Bond JORR II Year 2005 Based on the Deed of Bond Issuance Agreement Jasa Marga JORR II Year 2005 No.2 dated January 5, 2006, the Company issued bonds at par value of Rp 261,000,000,000 (full Rupiah) divided into 3 Tranches as follows:
Tranche A sebesar Rp 78.300.000.000 (Rupiah penuh) untuk jangka waktu 10 tahun dan dikenakan bunga sebesar 11,5% per tahun untuk 5 tahun pertama, dan sebesar 15,25% per tahun untuk 5 tahun kedua; Tranche B sebesar Rp 78.300.000.000 (Rupiah penuh) untuk jangka waktu 12 tahun dan dikenakan bunga sebesar 12,5% per tahun untuk 5 tahun perlama, dan sebesar 15,25% per tahun untuk tahun ke enam dan selanjutnya; dan Tranche C sebesar Rp 104.400.000.000 (Rupiah penuh) untuk jangka waktu 15 tahun dan dikenakan bunga sebesar 13,5% per tahun untuk 5 tahun pertama, dan sebesar 15,5% per tahun untuk tahun ke enam dan selanjutnya.
Tranche A amounting to Rp 78,300,000,000 (full Rupiah) for a term of 10 years with an interest rate of 11.5% per annum for the first 5 years, and 15.25% per annum for the second 5 years;
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Annual Report 2012
Constructing towards the Future
Tranche B amounting to Rp 78,300,000,000 (full amount) for a term of 12 years with an interest rate of 12.5% per annum for the first 5 years and 15.25% per annum for the sixth years and after; and Tranche C with amounting to Rp 104,400,000,000 (full Rupiah) for a term of 15 years with an interest rate of 13.5% per annum for the first 5 years and 15.5% per annum for the sixth years and after.
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Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Pada tanggal 24 Nopember 2008 Perusahaan telah membeli kembali obligasi JORR II ini sejumlah Rp 1.845.625.895 (Rupiah penuh) meliputi sertifikat yang dimiliki Bank IFI dan menurut ketetapan surat Direktur Keuangan No.BA.KU2.1744 tanggal 28 Nopember 2008 atas pengalihan tersebut dianggap sebagai pelunasan dipercepat.
On November 24, 2008, the Company repurchased this obligation JORR 11 amounting to Rp 1,845,625,895 (full Rupiah) covers certificate owned by PT Bank IFI and according to the decision letter of Finance Director No.BA.KU2.1744 dated November 28, 2008 such transfer was assumed as the accelerated settlement.
Rincian jumlah sertifikat yang dimiliki oleh para kreditur pada tanggal 31 Desember 2012 sebagai berikut:
The detail amount of certificates owned by creditors as of December 31, 2012 consist of:
Tranche A dan/and B*
PT Bank Pan Indonesia Tbk PT Bank Bukopin Tbk PT Bank DKI PT Interartha Multi Finance PT Bank Harapan Santosa ( dalam likuidasi) PT Bank Guna Internasional (dalam likuidasi) PT Bank Windu Kentjana PT Bank Mega Tbk PT Syariah Mega Indonesia PT Bank Ekonomi Raharja PT Bank Swadesi Tbk PT Bank Permata Tbk PT Bank Bisnis lnternasional PT Bank Antardaerah PT Bank Kesawan Tbk PT Bank Himpunan Saudara 1906 PT Bank IFI Total
Tranche C
134,828,777 8,909,584 6,638,733 863,097 531,809 405,764 402,409 378,401 378,401 286,657 258,929 257,340 215,774 172,619 138,509 87,580 -154,754,384
(Rupiah penuh/ full full amount) Rupiah) Jumlah/Total
89,885,851 5,939,723 4,425,822 575,398 354,540 270,509 268,273 252,267 252,267 191,105 172,619 171,560 143,850 115,080 92,339 58,386 1,230,411
224,714,628 14,849,307 11,064,555 1,438,495 886,349 676,273 670,682 630,668 630,668 477,762 431,548 428,900 359,624 287,699 230,848 145,966 1,230,411
104,400,000
259,154,384
* Catatan : persentase jumlah utang obligasi Tranche A dan B masing-masing sebesar 50%.
* Notes: percentage of bonds payable under Tranche A and B is 50% each, respectively.
28. Provisi Pelapisan Jalan Tol
28. Provision for Overlay 2012 Rp
Saldo Awal Penambahan Realisasi Total Bagian Jangka Pendek Bagian Jangka Panjang
2011 Rp
299,518,759 315,412,928 (290,132,389) 324,799,298
336,894,975 351,244,475 (388,620,691) 299,518,759
Beginning Balance Addition Realization Total
229,025,982 95,773,316
190,666,107 108,852,653
Current Porrtion Long Term Portion
Provisi pelapisan jalan tol merupakan estimasi kewajiban pelapisan ulang jalan tol secara berkala seiring dengan penggunaan jalan tol oleh pelanggan. Provisi ini diukur dengan menggunakan nilai kini atas estimasi manajemen terhadap pengeluaran yang diperlukan untuk menyelesaikan kewajiban pelapisan ulang. d1/March 24, 2013
PT Bank Pan Indonesia Tbk PT Bank Bukopin Tbk PT Bank DKI PT Interartha Multi Finance PT Bank Harapan Santosa (in liquidation) PT Bank Guna Internasional (in liquidation) PT Bank Windu Kentjana PT Bank Mega Tbk PT Syariah Mega Indonesia PT Bank Ekonomi Raharja PT Bank Swadesi Tbk PT Bank Permata Tbk PT Bank Bisnis lnternasional PT Bank Antardaerah PT Bank Kesawan Tbk PT Bank Himpunan Saudara 1906 PT Bank IFI Total
Provision for Overlay is a periodic estimated liabilities of overlay as it is in line with toll roads usage. Provision is measured by present value of management’s estimates of expenditure required to accomplish the overlay.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
29. Liabillitas Imbalan Kerja
29. Employee Benefit Liabilities
Liabilitas imbalan kerja terdiri dari:
Perusahaan: Program Kesehatan Pensiunan Program Purna Karya Program Pensiun Sub Total Entitas Anak Program Pensiun dan Imbalan Pasca Kerja Lainnya PT Marga Nujyasumo Agung PT Sarana Marga Utama PT Trans Marga Jateng PT Jalantol Lingkarluar Jakarta Sub Total Total
Employee benefit liabilities consist of: 2012 Rp
2011 Rp
210,797,570 42,316,323 21,362,045 274,475,938
180,506,698 40,290,577 21,437,822 242,235,097
1,559,533 868,654 247,927 8,528 2,684,643 277,160,581
1,103,077
---1,103,077
243,338,174
Subsidiaries Pension Program and Other Post Benefits Program PT Marga Nujyasumo Agung PT Sarana Marga Utama PT Trans Marga Jateng PT Jalantol Lingkarluar Jakarta Sub Total Total
Estimasi liabilitas imbalan kerja yang diakui Perusahaan dan Entitas Anak adalah sebagai berikut :
The estimated employee benefits liabilities recognized by the Company and the Subsidiaries are as follows:
a. Program Purna Karya Status pendanaan dan biaya yang dibentuk atas program imbalan ini dapat diuraikan sebagai berikut:
a. Post-Retirement Benefits Program Funding status and cost formed on of these benefits program can be described as follow:
2012 Rp Nilai Kini Liabilitas - Awal Tahun Biaya Jasa Kini Biaya Bunga Pembayaran Imbalan Keuntungan (Kerugian) Aktuarial Nilai Kini Liabilitas - Akhir Tahun
2011 Rp
369,489,979 20,023,434 29,559,198 (28,925,254) 67,113,957 457,261,315 2012 Rp
Nilai Kini Liabilitas Tidak Didanai - Akhir Tahun Nilai Kini Liabilitas Didanai - Akhir Tahun Nilai Kini Liabilitas - Akhir Tahun
Nilai Wajar Aset Program - Awal Tahun Iuran Perusahaan Imbal Hasil Ekspektasian Aset Program Imbalan yang dibayarkan Keuntungan (Kerugian) Aktuarial Nilai Wajar Aset Program - Akhir Tahun
d1/March 24, 2013 Annual Report 2012
Constructing towards the Future
334,793,006 16,297,742 26,783,440 (8,837,413) 453,205 369,489,979
Present Value Liability - Beginning of Year Present Service Cost Interest Cost Benefits Payments Actuarial Gain (Loss) Present Value Liability - End of Year
2011 Rp
-457,261,315 457,261,315
2012 Rp
342
The Company Pension Health - Care Program Post-Retirement Benefits Program Pension Program Sub Total
-369,489,979 369,489,979
Present Value Liability Unfunded - End of Year Present Value Liability Funded - End of Year Present Value Liability - End of Year
2011 Rp
159,107,655 45,045,168 14,319,689 (28,925,254) 60,286,801 249,834,059
69
113,369,001 46,492,000 10,203,210 (8,837,413) (2,119,142) 159,107,655
Fair Value of Program Assets - Beginning of Year Contribution of Employer Expected Return from Program Assets Benefit Payment Actuarial Gain (Loss) Fair Value of Program Assets - End of Year
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) 2012 Rp
Nilai Kini Liabilitas Manfaat Pasti Nilai Wajar Aset Program Posisi Pendanaan Biaya Jasa Lalu yang Belum Diakui (Non Vested) Keuntungan (Kerugian) Aktuarial yang belum diakui Liabilitas yang Diakui
2011 Rp
457,261,315 (249,834,059) 207,427,256 (35,278,690) (129,832,243) 42,316,323
369,489,979 (159,107,655) 210,382,324 (38,998,386) (131,093,361) 40,290,577
2012 Rp Biaya Jasa Kini Biaya Bunga Imbal Hasil Ekspektasian Aset Program Biaya Jasa Lalu yang Belum Menjadi Hak Keuntungan (Kerugian) Aktuarial yang diakui Iuran Perusahaan Beban yang Diakui
Nilai Kini Liabilitas Manfaat Pasti Nilai Wajar Aset Program Posisi Pendanaan
Present value - Defined Benefit Liability Fair Value of Program Assets Funding Unrecornized Past Service (Non Vested) Unrecognized Actuarial Gain (Loss) Recognized Liability
2011 Rp
20,023,434 29,559,198 (14,319,689) 3,719,696 8,088,274 (45,045,168) 2,025,746
16,297,742 26,783,440 (10,203,210) 3,719,696 9,124,005 (46,492,000) (770,327)
2012 Rp
2011 Rp
2010 Rp
2009 Rp
457,261,315 (249,834,059) 207,427,256
369,489,979 (159,107,655) 210,382,324
334,793,006 (113,369,001) 221,424,005
236,117,393 (124,574,904) 111,542,489
Current Service Cost Interest Cost Expected Return from Program Assets Unrecornized Past Service (Non Vested) Recognized Actuarial Gain (Loss) Contribution of Employer Recognized Expenses 2008 Rp ----
Present value - Defined Benefit Liability Fair Value of Program Assets Funding
2012 Tingkat Diskonto/ Discount Rate Estimasi Kenaikan Gaji Pegawai Aktif/ Salary Increment Estimasi Kenaikan Biaya Kesehatan/ Health Care Increment Tingkat Mortalita/ Mortality Tingkat Cacat/ Disability Rate
Tingkat Mengundurkan Diri/ Early Retirement Rate
Metoda Aktuaria/ Acturial Method Usia pensiun normal/ Pension Normal Age Metoda amortisasi dan periode amortisasi Biaya jasa lalu Metoda Amortisasi/ Amortization Method Periode Amortisasi/ Amortization Period Keuntungan / kerugian Metoda Amortisasi/ Amortization Method Periode Amortisasi/ Amortization Period
d1/March 24, 2013
Usia 15 – 29 30 – 34 35 – 39 40 – 50 51 – 52 >52
2011
6% 6.5% 0% CSO 1980 10 % dari CSO 1980 Tingkat 6% 3% 1.8% 1.2% 0.6% 0% Projected Unit Credit 56 tahun/year
Usia 15 – 29 30 – 34 35 – 39 40 – 50 51 – 52 >52
8% 6.5% 0% CSO 1980 10 % dari CSO 1980 Tingkat 6% 3% 1.8% 1.2% 0.6% 0% Projected Unit Credit 56 tahun/year
Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
Garis lurus/straight line Average of remaining of expected working period
Garis lurus/straight line Average of remaining of expected working period
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
b. Program Pensiun Status pendanaan dan biaya yang dibentuk atas program imbalan ini dapat diuraikan sebagai berikut:
b. Pensiun Program Funding status and cost formed on of these benefits program can be described as follow:
2012 Rp Nilai Kini Liabilitas - Awal Tahun Biaya Jasa Kini Biaya Bunga Pembayaran Imbalan Keuntungan (Kerugian) Aktuarial Nilai Kini Liabilitas - Akhir Tahun
2011 Rp
705,743,341 29,587,777 56,459,467 (23,019,745) 276,638,408 1,045,409,247
598,270,558 24,065,277 47,861,645 (21,576,227) 57,122,087 705,743,341
2012 Rp Nilai Kini Liabilitas Tidak Didanai - Akhir Tahun Nilai Kini Liabilitas Didanai - Akhir Tahun Nilai Kini Liabilitas - Akhir Tahun
2011 Rp
-1,045,409,247 1,045,409,247
-705,743,341 705,743,341
2012 Rp Nilai Wajar Aset Program - Awal Tahun Iuran Perusahaan Imbal Hasil Ekspektasian Aset Program Imbalan yang dibayarkan Keuntungan (Kerugian) Aktuarial Nilai Wajar Aset Program - Akhir Tahun
568,750,035 33,314,960 56,875,004 (23,019,745) (21,120,020) 614,800,234
494,154,344 41,125,000 49,415,434 (21,576,227) 5,631,483 568,750,035
Nilai Kini Liabilitas Manfaat Pasti Nilai Wajar Aset Program Posisi Pendanaan
1,045,409,247 (614,800,234) 430,609,014 (409,246,969) 21,362,045
705,743,341 (568,750,035) 136,993,306 (115,555,483) 21,437,822
Annual Report 2012
29,587,777 56,459,467 (56,875,004) 4,066,942 (33,314,960) (75,778)
24,065,277 47,861,645 (49,415,434) 368,506 (41,125,000) (18,245,006)
2011 Rp
2010 Rp
2009 Rp
1,045,409,247 (614,800,234) 430,609,014
705,743,341 (568,750,035) 136,993,306
598,270,558 (494,154,344) 104,116,214
239,753,409 (432,972,807) (193,219,398)
Constructing towards the Future
Present value - Defined Benefit Liability Fair Value of Program Assets Funding Unrecognized Actuarial Gain (Loss) Recognized Liability
2011 Rp
2012 Rp
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Fair Value of Program Assets - Beginning of Year Contribution of Employer Expected Return from Program Assets Benefit Payment Actuarial Gain (Loss) Fair Value of Program Assets - End of Year
2011 Rp
2012 Rp Biaya Jasa Kini Biaya Bunga Imbal Hasil Ekspektasian Aset Program Keuntungan (Kerugian) Aktuarial yang diakui Iuran Perusahaan Beban yang Diakui
Present Value Liability Unfunded - End of Year Present Value Liability Funded - End of Year Present Value Liability - End of Year
2011 Rp
2012 Rp Nilai Kini Liabilitas Manfaat Pasti Nilai Wajar Aset Program Posisi Pendanaan Keuntungan (Kerugian) Aktuarial yang belum diakui Liabilitas yang Diakui
Present Value Liability - Beginning of Year Present Service Cost Interest Cost Benefits Payments Actuarial Gain (Loss) Present Value Liability - End of Year
71
Current Service Cost Interest Cost Expected Return from Program Assets Recognized Actuarial Gain (Loss) Contribution of Employer Recognized Expenses 2008 Rp ----
Present value - Defined Benefit Liability Fair Value of Program Assets Funding
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
Tingkat Diskonto/ Discount Rate Estimasi Kenaikan Gaji Pegawai Aktif/ Salary Increment Estimasi Kenaikan Biaya Kesehatan/ Health Care Increment Tingkat Mortalita/ Mortality Tingkat Cacat/ Disability
Tingkat Mengundurkan Diri/ Early Retirement Rate
Metoda Aktuaria/ Acturial Method Usia pensiun normal/ Pension Normal Age
Metoda amortisasi dan periode amortisasi Biaya jasa lalu Metoda Amortisasi/ Amortization Method Periode Amortisasi/ Amortization Period Keuntungan / kerugian Metoda Amortisasi/ Amortization Method Periode Amortisasi/ Amortization Period
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) 2012
2011
6% 5% 0% GA 1971 10 % dari GA 1971 Usia Tingkat 6% 15 – 29 3% 30 – 34 1.8% 35 – 39 1.2% 40 – 50 51 – 52 0.6% >52 0% Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
8% 5% 0% CSO 1980 10 % dari CSO 1980 Usia Tingkat 6% 15 – 29 3% 30 – 34 1.8% 35 – 39 1.2% 40 – 50 51 – 52 0.6% >52 0% Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
Garis lurus/straight line Average of remaining of expected working period
Garis lurus/straight line Average of remaining of expected working period
c. Program Kesehatan Pensiunan
c. Pension Healthcare Program
Status pendanaan dan biaya yang dibentuk atas program imbalan ini dapat diuraikan sebagai berikut:
Funding status and cost formed on of these benefits program can be described as follow:
2012 Rp Nilai Kini Liabilitas - Awal Tahun Biaya Jasa Kini Biaya Bunga Pembayaran Imbalan Keuntungan (Kerugian) Aktuarial Nilai Kini Liabilitas - Akhir Tahun
2011 Rp
259,738,117 9,958,528 20,779,049 (5,346,265) 45,838,449 330,967,879 2012 Rp
Nilai Kini Liabilitas Tidak Didanai - Akhir Tahun Nilai Kini Liabilitas Didanai - Akhir Tahun Nilai Kini Liabilitas - Akhir Tahun
Nilai Kini Liabilitas Manfaat Pasti Posisi Pendanaan Biaya Jasa Lalu yang Belum Diakui (Non Vested) Keuntungan (Kerugian) Aktuarial yang belum diakui Liabilitas yang Diakui
d1/March 24, 2013
244,569,023 10,076,888 19,039,275 (6,578,082) (7,368,987) 259,738,117
Present Value Liability - Beginning of Year Present Service Cost Interest Cost Benefits Payments Actuarial Gain (Loss) Present Value Liability - End of Year
2011 Rp
--
--
Present Value Liability Unfunded - End of Year Present Value Liability Funded - End of Year Present Value Liability - End of Year
259,738,117 259,738,117 (28,505,156) (50,726,264) 180,506,698
Present value - Defined Benefit Liability Funding Unrecornized Past Service (Non Vested) Unrecognized Actuarial Gain (Loss) Recognized Liability
330,967,879 330,967,879
259,738,117 259,738,117
2012 Rp
2011 Rp
330,967,879 330,967,879 (25,654,640) (94,515,669) 210,797,570
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Biaya Jasa Kini Biaya Bunga Biaya Jasa Lalu yang Belum Menjadi Hak Keuntungan (Kerugian) Aktuarial yang diakui Beban yang Diakui
Nilai Kini Liabilitas Manfaat Pasti Nilai Wajar Aset Program Posisi Pendanaan
2012 Rp
2011 Rp
9,958,528 20,779,049 2,850,516 2,049,044 35,637,137
10,076,888 19,039,275 2,850,516 3,320,666 35,287,345
2012 Rp
2011 Rp
2010 Rp
2009 Rp
330,967,879 330,967,879
259,738,117 259,738,117
244,569,023 244,569,023
239,753,409 239,753,409
Tingkat Diskonto/ Discount Rate Estimasi Kenaikan Gaji Pegawai Aktif/ Salary Increment Estimasi Kenaikan Biaya Kesehatan/ Health Care Increment Tingkat Mortalita/ Mortality Tingkat Cacat/ Disability
Tingkat Mengundurkan Diri/ Early Retirement Rate
Metoda Aktuaria/ Acturial Method Usia pensiun normal/ Pension Normal Age
Metode amortisasi dan periode amortisasi Biaya jasa lalu Metoda Amortisasi/ Amortization Method Periode Amortisasi/ Amortization Period Keuntungan / kerugian Metoda Amortisasi/ Amortization Method Periode Amortisasi/ Amortization Period
8% 6.5% 5% CSO 1980 10 % dari CSO 1980 Usia Tingkat 6% 15 – 29 3% 30 – 34 1.8% 35 – 39 1.2% 40 – 50 51 – 52 0.6% >52 0% Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
Garis lurus/straight line Average of remaining of expected working period
Garis lurus/straight line Average of remaining of expected working period
30. Non Controlling Interests Represent non controlling interest in net assets and portion of net income (loss) of the consolidated Subsidiaries.
31. Share Capital
Pemegang Saham Seri A mempunyai hak istimewa tertentu sebagai tambahan atas hak yang diperoleh Pemegang Saham Seri B. Hak istimewa tersebut mencakup hak khusus untuk mencalonkan anggota direksi dan komisaris dan untuk memberikan persetujuan atas: (a) peningkatan modal, (b) perubahan anggaran dasar, (c) penggabungan, peleburan, dan pangambilalihan, (d) pembubaran dan likuidasi, (e) pengangkatan dan pemberhentian anggota direksi dan komisaris. Perusahaan telah melakukan pembelian kembali
Constructing towards the Future
Present value - Defined Benefit Liability Fair Value of Program Assets Funding
2011
31. Modal Saham
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6% 6.5% 5% TMI 3 10 % dari TMI 3 Usia Tingkat 6% 15 – 29 3% 30 – 34 1.8% 35 – 39 1.2% 40 – 50 51 – 52 0.6% >52 0% Garis lurus/straight line Rata-rata sisa masa kerja/ Average of remaining of working period
Merupakan hak pemegang saham non pengendali atas aset bersih dan bagian Iaba (rugi) bersih Entitas Anak yang dikonsolidasikan.
Annual Report 2012
2008 Rp
2012
30. Kepentingan Non Pengendali
346
Current Service Cost Interest Cost Unrecornized Past Service (Non Vested) Recognized Actuarial Gain (Loss) Recognized Expenses
The Shareholders of Series A shares have certain privileges in addition to any rights acquired by Series B Shareholders. These privileges include the exclusive rights to nominate directors and commissioners and to give approval for: (a) an increase in capital, (b) changes in the article of association, (c) merger, consolidation, and acquisition, (d) dissolution and liquidation, (e) appointment and dismissal of directors and commissioners. The Company has bought back the outstanding shares (treasury stocks) to December 31, 2012 73
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
atas saham yang beredar (treasury stocks) sampai tanggal 31 Desember 2012 sebanyak 12.261.750 lembar saham, dan hal ini mengakibatkan jumlah saham beredar terkoreksi
Pemegang Saham
Saham Seri A Dwiwarna Pemerintah Republik Indonesia Saham Seri B Pemerintah Republik Indonesia Manajemen; Ir. Agoes Widjanarko, MIP (Komisaris Utama) Ibnu Purna Muchtar, SE, MA. (Komisaris) Ir. Adityawarman (Direktur Utama ) Ir. Hasanudin , M.Eng.Sc. (Direktur Operasi ) Ir. Abdul Hadi HS, MM. (Direktur Pengembangan Usaha) Ir. Reynaldi Hermansjah (Direktur Keuangan) Ir. Muh. Najib Fauzan, MSc. (Direktur SDM dan Umum) Karyawan Total Manajemen dan Karyawan PT JAMSOSTEK (PERSERO) - JHT Masyarakat (masing-masing dibawah 2%) Total
Pemegang Saham
Saham Seri A Dwiwarna Pemerintah Republik Indonesia Saham Seri B Pemerintah Republik Indonesia Manajemen; Ir. Sumaryanto Widayatin, MSCE. (Komisaris) Ir. Frans S. Sunito (Direktur Utama) Ir. Adityawarman (Direktur Operasi ) Ir. Abdul Hadi HS, MM. (Direktur Pengembangan Usaha) Ir. Reynaldi Hermansjah (Direktur Keuangan) Ir. Firmansjah, C.E.S (Direktur SDM dan Umum) Karyawan Total Manajemen dan Karyawan Morgan Stanley & Co. Intl. Plc Masyarakat (masing•masing dibawah 2%) Total Modal Saham Diperoleh Kembali
d1/March 24, 2013
amounting to 12,261,750 shares, and this has resulted in the number of outstanding shares adjusted.
2012 Presentase Kepemilikan/ Percentage of Ownership
Jumlah Saham/ Total Shares
Jumlah PenuNI (Rupiah Penuh)/ Total (full Rupiah)
Shareholders
107,500 23,327,919 24,289,419
0.36 0.36
53,750,000 11,916,709,500 12,397,459,500
Series A Dwiwarna - Share The Government of the Republic of Indonesia Series B - Share The Government of the Republic of Indonesia Management Ir. Agoes Widjanarko, MIP (General Commissioner) Ibnu Purna Muchtar, SE, MA. (Comissioner) Ir. Adityawarman (Presiden Directur) Ir. Hasanudin , M.Eng.Sc.(Operation Director) Ir. Abdul Hadi HS, MM. (Business Development Director) lr. Reynaldi Hermansjah (Finance Director) Ir. Muh. Najib Fauzan, MSc. (Human Capital and General Affaimes Director) Employees Total Management and Employees
115,689,500 1,900,021,081 6,800,000,000
1.70 27.94 100.00
57,844,750,000 949.757.790.500. 3,400,000,000,000
PT JAMSOSTEK (PERSERO) - JHT Public (each below 2%) Total
1 4,759,999,999
500 70.00
2,379,999,999,500
80,000 10,500 134,500 8,500
40,000,000 5,250,000 67,250,000 4,250,000
260,500
130,250,000
360,000
180,000,000
2011 Presentase Kepemilikan/ Percentage of Ownership
Jumlah Saham/ Total Shares
Jumlah PenuNI (Rupiah Penuh)/ Total (full Rupiah)
Shareholders
489,000
0.01
244,500,000
112,000 31,268,419 32,727,419
0.46 0.48
56,000,000 15,634,209,500 2,396,363,709,500
Series A Dwiwarna - Share The Government of the Republic of Indonesia Series B - Share The Government of the Republic of Indonesia Management Ir. Sumaryanto Widayatin, MSCE. (Commissioner) Ir. Frans S. Sunito (President Director) Ir. Adityawarman (Operation Directur) Ir. Abdul Hadi HS, MM. (Business Development Director) lr. Reynaldi Hermansjah (Finance Director) Ir. Firmansjah, CES (Human Capital and General Affair Director) Employees Total Management and Employees
134,289,500 1,872,983,081 6,800,000,000 (24,523,500)
1.98 27.54 100.00 (0.36)
67,144,750,000 936,491,540,500 3,400,000,000,000 (12,261,750,000)
Morgan Stanley & Co. Intl. Plc Public (each below 2%) Total Treasury Stocks
1 4,759,999,999
500 70.00
2,379,999,999,500
197,000 266,000 134,500
98,500,000 133,000,000 67,250,000
260,500
130,250,000
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347
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
Berdasarkan Rapat Umum Pemegang Saham Luar Biasa, tanggal 17 Januari 1998, yang dinyatakan dalam Akta No.52, tanggal 16 Maret 1998 dari Notaris Imas Fatimah, SH, dan telah memperoleh pengesahan dari Menteri Kehakiman Republik Indonesia melalui Surat Keputusan No.C2-3192. HT.01.04.Th.98, tanggal 3 April 1998, para pemegang saham menyetujui untuk meningkatkan modal dasar dari sebesar Rp 350.000.000.000 (Rupiah penuh) menjadi sebesar Rp 2.000.000.000.000 (Rupiah penuh) yang terbagi atas 2.000.000 saham dengan nilai nominal Rp 1.000.000 (Rupiah penuh) per saham dan meningkatkan modal ditempatkan dan disetor menjadi sebesar Rp 1.000.000.000.000 (Rupiah penuh).
Based on the Extraordinary General Meeting of Shareholders on January 17, 1998, as stated in the Deed No.52 dated March 16, 1998 of Notary Imas Fatimah, SH, which was approved by the Minister of Justice of the Republic of Indonesia through the Decree No.C2-3192.HT.01.04.Th.98 dated April 3, 1998, the shareholders of the Company agreed to increase the authorized share capital from Rp 350,000,000,000 (full Rupiah) to Rp 2,000,000,000,000 (full Rupiah) which consist of 2,000,000 shares with par value of Rp 1,000,000 (full Rupiah) per share, and to increase the issued and paid in capital to become Rp 1,000,000,000,000 (full Rupiah).
Rapat Umum Pemegang Saham Luar Biasa yang telah dituangkan dalam Risalah No.RIS-292/D6.MBU/2007, tanggal 12 September 2007 dengan Akta No.27 tanggal 12 September 2007 dari Notaris Ny. Poerbaningsih Adi Warsito, SH, memutuskan antara lain:
The Extraordinary General Meeting of Shareholders as set forth in Proceedings No.RIS-292/D6.MBU/2007, through the Deed No.27 dated September 12, 2007, of Notary Ny. Poerbaningsih Adi Warsito, SH, decided among other things as follows:
1 Perubahan Anggaran Dasar Perusahaan sebagai berikut: a. Peningkatan modal dasar Perusahaan dari semula Rp 2.000.000.000.000 (Rupiah penuh) menjadi sebesar Rp 9.520.000.000.000 (Rupiah penuh) dan modal ditempatkan dan disetor penuh dari Rp 1.000.000.000.000 (Rupiah penuh) menjadi sebesar Rp 2.380.000.000.000 (Rupiah penuh) yang berasal dari kapitalisasi sebagian saldo laba (ditahan) per 30 Juni 2007 sebesar Rp 1.380.000.000,000 (Rupiah penuh), sehingga saldo laba (ditahan) posisi per 30 Juni 2007 tersisa sebesar Rp 24.895.100.523 (Rupiah penuh); b. Perubahan nilai nominal saham Perusahaan dari semula Rp 1.000.000 (Rupiah penuh) setiap saham menjadi sebesar Rp 500 (Rupiah penuh) setiap saham; c. Perubahan modal ditempatkan dan disetor penuh Perusahaan menjadi sebesar Rp 2.380.000.000.000 (Rupiah penuh), terbagi atas 4.760.000.000 lembar saham yang terdiri dari 1 (satu) saham Seri A Dwiwarna dan sebesar 4.759.999.999 lembar saham Seri B; dan d. Penyesuaian Anggaran Dasar Perusahaan dengan Undang-undang No.8 Tahun 1995 tentang Pasar Modal.
1. Amendment of the Company's Articles of Association by: a Increase of the Company's authorized share capital from Rp 2,000,000,000,000 (full Rupiah) to become Rp 9,520,000,000,000 (full Rupiah) and issued and paid up capital of Rp 1,000,000,000,000 (full Rupiah) to become Rp 2,380,000,000,000 (full Rupiah) derived from partial capitalization of retained earnings position as of June 30, 2007 amounting to Rp 1,380,000,000,000 (full Rupiah), therefore the retained earnings position as of June 30, 2007 remained at Rp 24,895,100,523 (full Rupiah);
2. Perubahan status Perusahaan dari Perusahaan Tertutup menjadi Perusahaan Terbuka.
2. Changes of the Company’s status from a limited company to become a public company.
3. Penjualan saham dalam simpanan Perusahaan kepada masyarakat melalui pasar modal sebanyak-banyaknya 30% dari jumlah saham yang dikeluarkan setelah Perusahaan melakukan Penawaran Umum Perdana (Initial Public Offering) atau sebanyak-banyaknya 2.040.000.000 lembar saham.
3. Sales of the Company's share in the portfolio to public through capital market as much as 30% of the issued shares after the Company made an Initial Public Offering or a maximum of 2,040,000,000 shares
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Annual Report 2012
Constructing towards the Future
b Changes of the par value of the Company’s shares from Rp 1,000,000 (full Rupiah) per share to Rp 500 (full Rupiah) per share; c Changes in the Company's issued and fully paid up capital became Rp 2,380,000,000,000 (full Rupiah), divided into 4,760,000,000 shares consisting of 1 (one) Series A Dwiwarna Share and 4,759,999,999 Series B shares; and d Changes of the Company's Articles of Association to conform with the Law No.8 Year 1995 regarding Capital Market.
75
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
4. Penetapan program kepemilikan saham Perusahaan untuk karyawan dan manajemen Perusahaan melalui Employee and Management Stock Allocation (ESA) sebanyak-banyaknya 10% dari emisi saham baru Perusahaan yang diterbitkan (sebanyak-banyaknya 204.000.000 saham) sesuai dengan ketentuan pasar modal. Ketentuan alokasi saham tersebut sebagai berikut: a. Saham Bonus - Sebesar 1 (satu) kali gaji bersih bulan Juni 2007
4. Determination of the Company's share ownership program for employees and management through the Employee and Management Stock Allocation (ESA) as much as 10% of the Company’s issuance of new shares issued (as much as 204,000,000 shares) in accordance with capital market regulation. The stock allocation provisions are as follows:
- Masa lock up 3 tahun atau yang bersangkutan tidak bekerja lagi di Perusahaan; dan - Pembebanan saham bonus tersebut akan dibiayakan pada anggaran biaya tahun 2007, dengan catatan, target laba setelah pajak tahun 2007 yang telah ditetapkan pada RUPS yang lalu.
a. Shares Bonus - An amount of 1 (one) times the net salary in June 2007; - A 3-years lock up period or the employee resigned from the Company; and - Imposition of bonus shares will be treated as expenses in the 2007 cost budget, with a condition, a target profit after tax in 2007 which has been set at the previous RUPS.
b. Saham Jatah Pasti Sebanyak 204.000.000 lembar saham (10% dari emisi saham baru) dikurangi jumlah saham bonus; dan tidak ada masa lock up.
b. The Fixed Allotment Shares A total of 204,000,000 shares (10% of the new shares issued) minus the number of bonus shares; and no lock up period.
c. Yang berhak memperoleh program kepemilikan saham karyawan dan manajemen Perusahaan adalah: - Direksi Perusahaan; - Komisaris, Sekretaris Komisaris dan Staf Sekretaris Perusahaan; dan - Karyawan tetap Perusahaan.
c. Those entitled for employee and management stock ownership program of the Company are:
Komisaris Independen dan Komite Audit yang bukan anggota komisaris tidak diperkenankan mengikuti program ESA.
Independent Commissioners and the Audit Committee who are not member of the Commissioner are not allowed to participate in the ESA program.
Jumlah saham yang diterbitkan sehubungan penawaran umum perdana saham tersebut adalah sebanyak 6.800.000.000 saham dengan nilai nominal per saham Rp 500 atau setara dengan Rp 3.400.000.000.000 (Rupiah penuh). Selisih antara jumlah yang diterima dengan jumlah nilai nominal dari saham yang diterbitkan adalah sebesar Rp 2.448.000.000.000 (Rupiah penuh) disajikan dalam bagian Tambahan Modal Disetor.
The number of shares issued related to the initial public offering were 6,800,000,000 shares with the par value of shares Rp 500 (full Rupiah) per share or equivalent to Rp 3,400,000,000,000 (full Rupiah). The difference between the proceeds amount and the amount of par value of shares issued amounted to Rp 2,448,000,000,000 (full Rupiah) are presented as part of Additional Paid in Capital.
Jumlah saham yang diterbitkan sehubungan pelaksanaan program ESA terdiri dari 11.862.000 saham bonus dan 189.337.500 saham jatah pasti dengan jumlah nilai nominal sebesar Rp 100.599.750.000 (Rupiah penuh). Selisih antara jumlah yang diterima dan jumlah nilai nominal dari saham yang diterbitkan dari saham bonus dan saham jatah pasti masing-masing sebesar Rp 14.234.400.000 (Rupiah penuh) dan Rp 227.205.000.000 (Rupiah penuh) disajikan dalam bagian Tambahan Modal Disetor. Jumlah beban kompensasi yang diakui sehubungan pelaksanaan program ESA sebesar Rp 20.165.400.000 (Rupiah penuh), dibebankan pada beban operasi tahun berjalan dan dikreditkan pada bagian dari Tambahan Modal Disetor. Sisa dari seluruh pelaksanaan
The number of shares issued related to the implementation of the ESA program consists of 11,862,000 shares and 189,337,500 bonus shares for the fixed allotment share with total par value amounting to Rp 100,599,750,000 (full Rupiah). The difference between the proceeds amount and the total par value of the issued shares from bonus shares and the fixed allotment share amounting to Rp 14,234,400,000 (full Rupiah) and Rp 227,205,000,000 (full Rupiah), respectively, are presented as part of Additional Paid in Capital. Total compensation expenses recognized related to the program implementation ESA amounted to Rp 20,165,400,000 (full Rupiah) charged to current year operating expenses and is credited in part of Additional Paid
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- Directors of the Company; - Commissioners, Secretary to Commissioners, and the Staffs of the Corporate Secretary; and - Permanent employees of the Company
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
program ESA yang tidak digunakan sejumlah 2.800.500 saham jatah pasti menjadi tidak berlaku.
in Capital. The rest of the entire implementation of the program ESA are not used a number of 2,800,500 shares from the fixed allotment share become expired
32. Tambahan Modal Disetor
32. Additional Paid in Capital 2012 Rp
2011 Rp
Tambahan Modal Disetor dari Penawaran Umum Perdana Saham Tahun 2007 Pembelian Saham Kembali (Treasury Stocks) Hasil Bersih Penjualan Treasury Stocks Total
2,343,266,337 (7,741,303) 118,365,066 2,453,890,100
2,343,266,337 (7,741,303)
--
2,335,525,034
33. Modal Saham Diperoleh Kembali
Additional Paid in Capital from Initial Inital Public Offering Year 2007 Purchase of Treasury Stocks Net proceeds from sales of Treasury Stocks Total
33. Treasury Stocks 2012
Saldo Awal / Beginning Balance Modal Saham / Share Capital (12,261,750)
Agio Saham / Additional Paid in Capital (7,741,303)
Penjualan / Selling Modal Saham / Share Capital 12,261,750
Agio Saham / Additional Paid in Capital 118,365,066
SaldoAkhir / Ending Balance Modal Saham / Share Capital -
Agio Saham / Additional Paid in Capital 110,623,763
2011 Saldo Awal / Beginning Balance Modal Saham / Share Capital (12,261,750)
Agio Saham / Additional Paid in Capital (7,741,303)
Penjualan / Selling Agio Saham / Additional Paid in Capital -
Modal Saham / Share Capital -
Pada tahun 2008, pemerintah melalui Menteri Negara BUMN dan Menteri Keuangan mengharuskan BUMN untuk melakukan pembelian kembali saham treasuri. Pembelian dilakukan secara bertahap sebanyak 24.523.500 lembar saham atau setara dengan Rp 21.805.477.755 (Rupiah penuh). Adanya pembelian kembali saham treasuri tersebut menyebabkan agio saham terkoreksi sebesar Rp 7.741.302.755 (Rupiah penuh) dan modal saham terkoreksi Rp 12.261.750.000 (Rupiah penuh). Pada tahun 2012, perusahaan menjual kembali seluruh modal saham treasuri senilai Rp 118.365.066.000 sehingga menambah agio saham menjadi sebesar Rp 110.623.763.000 (Rupiah penuh).
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77
Saldo Akhir / Ending Balance Modal Saham / Share Capital (12,261,750)
Agio Saham / Additional Paid in Capital (7,741,303)
In 2008, Government through the Minister of State Owned Enterprise and the Minister of Finance suppose to the State Owned Enterprise to buy back treasury stocks. The procurement is done gradually as 24,523,500 shares or equivalent to Rp 21,805,477,755 (full Rupiah). The repurchased of treasury stocks result adjustment of additional paid in capital amounting to Rp 7,741,302,755 (full Rupiah) and share capital amounting to Rp 12,261,750,000 (full Rupiah). In 2012, the Company selling back all of the treasury stocks amounting to Rp 118,365,066,000 therefore increase additional paid in capital amounting to Rp 110,623,763,000 (full Rupiah).
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
34. Pendapatan Tol
34. Toll Revenues 2012 Rp
2011 Rp
Perusahaan Jakarta - Cikampek Cawang - Tomang - Pluit JORR Seksi non S Cikampek - Padalarang Jakarta - Bogor - Jagorawi JORR S Prof. Dr. Ir. Sedyatmo Jakarta - Tanggerang Padalarang - Cileunyi Surabaya - Gempol Pondok Aren - Bintaro Viaduct - Ulujami Palimanan - Kanci Semarang Seksi A,B,C Belawan - Medan - Tanjung Morawa Sub total
896,244,511 674,789,714 665,483,579 655,380,103 508,088,195 434,686,271 388,780,631 379,581,422 269,473,344 240,801,088 115,577,419 100,541,337 97,177,899 73,210,198 5,499,815,712
806,841,857 696,833,344 583,085,948 525,603,332 428,786,048 386,300,499 249,667,306 323,711,093 282,283,589 206,231,396 94,225,786 82,470,320 79,751,925 62,247,891 4,808,040,334
The Company Jakarta - Cikampek Cawang - Tomang - Pluit JORR Seksi non S Cikampek - Padalarang Jakarta - Bogor - Jagorawi JORR S Prof. Dr. Ir. Sedyatmo Jakarta - Tanggerang Padalarang - Cileunyi Surabaya - Gempol Pondok Aren - Bintaro Viaduct - Ulujami Palimanan - Kanci Semarang Seksi A,B,C Belawan - Medan - Tanjung Morawa Sub total
Entitas Anak Bogor Ring Road Semarang - Solo Surabaya - Mojokerto Sub total Total
41,064,104 27,457,799 13,415,178 81,937,081 5,581,752,793
29,054,813 2,860,936 3,273,875 35,189,624 4,843,229,958
Subsidiaries Bogor Ring Road Semarang - Solo Surabaya - Mojokerto Sub total Total
Pendapatan jalan tol diperoleh dari jumlah kendaraan yang lewat dikalikan dengan tarif sesuai dengan golongan kendaraan. Tarif tol yang ditetapkan didasarkan pada:
Revenue from toll road are derived from total number of passing vehicles multiplied with the tariff based on class of vehicles. The toll tariff shall be based on:
- Undang-undang (UU) No.38 tahun 2004 sebagai pengganti Undang-undang No.13 tahun 1980. - Peraturan Pemerintah (PP) No.15 tahun 2005 sebagai pengganti PP No.8 tahun 1990 dan PP No.40 tahun 2001,
- The Law No.38 of Year 2004 as a replacement for the Law No.13 year 1980. - The Government Regulation (GR) No.15 year 2005 as a replacement for the GR No.8 of Year 1990 and the GR No.40 year 2001.
UU dan PP tersebut merupakan landasan hukum perhitungan/penyesuaian tarif tol yang kemudian ditetapkan oleh Keputusan Menteri Pekerjaan Umum (Kepmen PU).
Such mentioned Law and Government Regulations constitute legal basis for calculation/adjustment of the toll tariff which later determined by the Decree of Minister of Public Works.
Berdasarkan Peraturan Pemerintah No.15 tahun 2005, pasal 66 ayat (1) dinyatakan: "Tarif dihitung berdasarkan kemampuan bayar pengguna jalan tol, besar keuntungan biaya operasi kendaraan, dan kelayakan investasi unsurunsur kelayakan investasi" dan pasal 66 ayat (2): "Besar keuntungan biaya operasi kendaraan sebagaimana dimaksud pada ayat (1) dihitung berdasarkan pada selisih biaya operasi kendaraan dan nilai waktu pada jalan tol dengan lintas alternatif jalan umum yang ada".
Pursuant to the Government Regulation No.15 of Year 2005, article 66 section (1) declares that: "Tariff will be calculated based on payment capability of the toll user, amount of profits from the vehicles opearting cost, and investment properness elements" and article 66 section (2): "The amount of profits from the vehicles opearting cost as of referred to under section (1) is to be calculated based on difference of vehicle operating cost on the toll road with the available alternative public road".
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351
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Berdasarkan Kepmen PU No.397/KPTS/M/2010 tanggal 5 Juli 2010 untuk ruas Prof. Dr. Ir. Sedyatmo dan berlaku pada tanggal 12 Juli 2010, tarif terjauh untuk ruas tersebut adalah sebagai berikut: No
Based on the Decree of Minister of Public Works No.397/KPTS/M/2010, dated July 5, 2010, and expired date July 12, 2010, the toll tariff for Prof.Dr.lr Sedyatmo section toll road is as follows:
Ruas / Section
I 5,000
1 Prof DR IR Soedyatmo
Berdasarkan Kepmen PU No.49/KPTS/M/2011, tanggal 23 Pebruari 2011 dan berlaku pada tanggal 2 Maret 2011, tentang Penetapan Perubahan Sistem Pengumpulan Tol Pada Seksi Jakarta IC Cikarang Barat dan Tarif Tol Pada Ruas Jalan Tol Jakarta – Cikampek, tarif terjauh untuk ruas tersebut adalah sebagai berikut No
I 3,500
1 Belmera (H. Hanif - Tanjung Morawa)
Tarif tol berdasarkan KEPMEN PU RI No.02/KPTS/M/2011, tanggal 6 Januari 2011 dan berlaku pada tanggal 13 Januari 2011, untuk Penetapan Perubahan Sistem Pengumpulan Tol Pada Seksi Jakarta IC - Cimanggis dan Tarif Tol Pada Ruas Jalan Tol Jakarta - Bogor Ciawi, berikut tarif terjauh untuk ruas tersebut:
I 2,000 6,500 2,000
1 Sistem Transaksi Terbuka/ Open System Transaction 2 Sistem Transaksi Tertutup/ Close System Transaction 3 Ramp/ Ramp
Tarif tol berdasarkan KEPMEN PU RI No.49/KPTS/M/2011, tanggal 23 Pebruari 2011 dan berlaku pada tanggal 2 Maret 2011, Tentang Penetapan Perubahan Sistem Pengumpulan Tol Pada Seksi Jakarta IC Cikarang Barat dan Tarif Tol Pada Ruas Jalan Tol Jakarta - Cikampek, berikut tarif terjauh untuk ruas tersebut : RuasISection
d1/March 24, 2013 Annual Report 2012
Constructing towards the Future
Golongan/Group II III 5,000 6,500
IV 8,000
V 10,000
Golongan/Group II III IV 3,000 3,500 4,000 8,000 11,000 14,000 2,000 2,000 2,000
V 5,000 16,500 2,500
Based on the Decree of Minister of Public Works No.49/KPTS/M/2011, dated February 23, 2011 and effective on March 2, 2011, On the Establishment of Toll Collection System Changes In Section IC Jakarta -Cikarang West and Toll Rates Toll Road In Jakarta - Cikampek, the toll tariff for Jakarta - Cikampek section toll road is :
I 3,500 11,000 1,000
1 Sistem Transaksi Terbuka/ Open System Transaction 2 Sistem Transaksi Tertutup/ Close System Transaction 3 Ramp/ Ramp
352
V 11,000
Based on the Decree of Minister of Public Works No.02/KPTS/M/2011, dated January 6, 2011 and effective on January 13, 2011, for the Establishment of Toll Collection System Changes In Jakarta Section IC -Cimanggis and Toll Rates Toll Road On Jakarta -Bogor - Ciawi, the toll tariff for Jakarta - Bogor - Ciawi section toll road is :
Ruas/Section
No.
IV 9,500
Based on the Decree of Minister of Public Works No.49/KPTS/M/2011, dated February 23, 2011 and effective on March 2, 2011, On the Establishment of Toll Collection System Changes In Section IC Jakarta -Cikarang West and Toll Rates Toll Road In Jakarta - Cikampek, the toll tariff for Jakarta - Cikampek section toll road is as follows:
Ruas / Section
No.
Golongan/Group II III 6,000 7,500
79
Golongan/Group II III IV 5,000 6,500 8,000 17,500 22,000 27,500 1,000 1,000 1,500
Paraf:
V 10,000 33,000 2,000
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Berdasarkan Kepmen PU No.277/KPTS/M/2011, tanggal 27 September 2011 dan berlaku pada tanggal 7 Oktober 2011 untuk ruas-ruas Jakarta - Tangerang, Serpong Pondok Aren, Ulujami Pondok Aren, Padaleunyi, Cipularang, Dalam Kota Jakarta, Surabaya - Gempol, Belmera, Palikanci, Semarang, JORR (W,S,E), dan Jagorawi, tarif terjauh untuk ruas tersebut adalah sebagai berikut:
Based on the Decree of Minister of Public Works No.277/KPTS/M/2011, dated September 27, 2011, and effective on October 7, 2011, the long distance of toll tariff for toll road sections: Jakarta-Tangerang, Serpong-Pondok Aren, Ulujami-Pondok Aren, Padaleunyi, Cipularang, Lingkar Dalam Kota, Surabaya. Gempol, Belmera, Palikanci, Semarang, JORR (W,S,E) and Jagorawi is as follows ::
No.
Ruas/Sect/on
1 2 3 4 5 6 7
Jakarta - Tangerang Serpong - Pondok Aren Pondok Aren - Ulujami Padaleunyi Cipularang Lingkar Dalam Kota Surabaya - Gempol Sistem Transaksi Terbuka/ Open System Transaction (Dupak - Waru) Sistem Transaksi Tertutup/ Close System Transaction Belmera Palikanci Semarang (Jatingaleh - Krapyak) Semarang (Jatingaleh - Srondol) Semarang (Jatingaleh - Kaligawe) Semarang (Jatingaleh - Gayamsari) Semarang (Gayamsari - Kaligawe) JORR (W2-S-E1-E2) Sistem Transaksi Terbuka/ Open System Transaction Sistem Transaksi Tertutup/ Close System Transaction Ramp/ Ramp
8 9 10
11 12
I 4,500 4,500 2,500 7,000 29,500 7,000 2,500 3,500 5,500 4,500 2,000 2,000 2,000 2,000 2,000 7,500 2,500 7,000 2,000
35. Pendapatan Konstruksi
5,500 8,500 13,000 10,000 3,500 3,500 4,500 4,500 4,500 13,500 5,000 15,500 2,000
-
V 10,500 15,000 7,500 20,000 89,000 17,000 6,500 10,500 15,500 12,000 4,000 4,000 5,500 5,500 5,500 16,000 6,000 18,500 2,500
-
Construction revenue is the compensation of the service recognised by the Group for building new toll roads and to upgrade toll roads capacity. Construction revenue measured using cost-plus method, which specified margin ranging added up to all cost directly attributable to the acquiring cost of the assets.
2012 Rp
d1/March 24, 2013
IV 8,500 12,500 6,500 16,500 74,000 14,000
35. Construction Revenues
Pendapatan konstruksi merupakan jasa kompensasi yang diakui oleh Grup dalam pembangunan jalan tol baru dan peningkatan kapasitas jalan tol. Pendapatan konstruksi dinilai dengan menggunakan metode cost-plus, yang mana seluruh biaya yang dapat diatribusikan langsung sebagai nilai perolehan aset tambahan dengan marjin tertentu.
Pendapatan Konstruksi Beban Konstruksi Pendapatan Konstruksi - Bersih
Golongan/Group II III 5,000 7,000 8,000 10,000 4,000 5,000 11,500 13,000 44,500 59,500 8,500 11,500 3,500 4,500 4,500 7,000 9,500 10,500 5,500 8,000 2,000 2,500 2,000 2,500 2,500 3,500 2,500 3,500 2,500 3,500 9,000 10,500 3,500 4,000 8,500 12,000 2,000 2,000
2011 Rp
3,344,997,734 (3,310,946,174) 34,051,560
1,496,232,562 (1,483,262,077) 12,970,485
Construction Revenue Construction Expenses Profit from Construction - Net
80
Paraf: Constructing towards the Future
Annual Report 2012
353
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
36. Pendapatan Usaha Lainnya
36. Other Operating Revenues 2012 Rp
2011 Rp
75,227,897 21,934,036 5,777,837 40,528,778
58,396,138 10,872,844 14,257,787 62,782,616
Land Rent Toll Road Operating Service Advertisement Others
143,468,547
146,309,385
Total
Sewa Lahan Jasa Pengoperasian Jalan Tol Pihak Lain Pendapatan Iklan Lainnya Total
37. Beban Pengumpulan Tol
37. Toll Collection Expenses
Beban pengumpulan tol merupakan beban yang timbul dari kegiatan di gerbang tol.
Toll collection expenses represent expenses incurred in relation to activities at the toll gates.
2012 Rp
2011 Rp
Gaji dan Tunjangan Penyusutan Aset Tetap Administrasi dan Perlengkapan Tol Perbaikan dan Pemeliharaan Aset Tetap Bahan Bakar, Listrik dan Air Sewa Kendaraan dan Peralatan Tol Amortisasi Hak Pengusahaan Jalan Tol Lainnya
488,914,453 47,880,154 41,988,657 40,204,245 27,978,202 19,762,105 13,904,790 24,988,579
472,271,328 22,299,547 34,906,733 32,590,394 24,293,847 24,609,810 13,325,948 4,222,110
Salaries and Allowance Property and Equipment Depreciation Administration and Toll Supplies Repair and Maintenance Fuel, Electricity and Water Car Rental and Equipment Tol Amortization of Toll Road Concession Rights Others
Total
705,621,185
628,519,717
Total
38. Beban Pelayanan Pemakai jalan Tol
38. Toll Road Service Expenses
2012 Rp
2011 Rp
Gaji dan Tunjangan Amortisasi Hak Pengusahaan Jalan Tol Bahan Bakar, Listrik dan Air Perbaikan dan Pemeliharaan Aset Pelayanan Pemakai Jalan Tol Sewa Kendaraan Publikasi Penyusutan Aset Tetap Lainnya
102,343,878 56,727,295 31,613,610 25,361,838 21,553,391 13,394,485 4,437,830 2,736,635 18,337,479
109,272,449 44,527,043 31,861,449 17,701,803 21,539,716 11,619,794 3,992,264 5,462,515 11,987,060
Salaries and Allowance Amortization of Toll Road Concession Rights Fuel, Electricity and Water Repair and Maintenance Toll Road User Services Car Rental Publications Property and Equipment Depreciation Others
Total
276,506,441
257,964,092
Total
Beban pelayanan pemakai jalan tol merupakan beban yang timbul karena kegiatan terkait dengan pelayanan jalan tol seperti patroli jalan tol, keperluan rescue, publikasi, dan penyuluhan jalan tol.
d1/March 24, 2013 354
Annual Report 2012
Constructing towards the Future
Toll road service expenses represent expenses incurred in relation to toll road services such as toll patrol, rescue, publications, and toll road information.
81
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
39. Beban Pemeliharaan jalan Tol
39. Toll Road Maintenance Expenses 2012 Rp
2011 Rp
Amortisasi Hak Pengusahaan Jalan Tol Provisi Pelapisan Ulang Perbaikan dan Pemeliharaan Aset Gaji dan Tunjangan Pembersihan Jalan dan Pertamanan Penyusutan Aset Tetap Sewa Kendaraan Bahan Bakar, Listrik dan Air Lainnya
423,352,634 322,153,759 59,856,089 36,887,407 26,654,349 4,890,075 3,362,509 2,603,876 2,484,335
323,596,269 309,689,547 46,718,710 35,602,767 23,829,585 10,904,033 3,040,863 2,392,405 1,589,612
Amortization of Toll Road Concession Rights Provision for Overlay Repair and Maintenance Salaries and Allowance Cleaning and Gardening Fixed Asset Depreciation Car Rental Fuel, Electricity and Water Others
Total
882,245,033
757,363,791
Total
40. Beban Kerjasama Operasi
40. Joint Operations Expenses
Beban Kerjasama Operasi merupakan selisih antara jumlah pendapatan tol yang menjadi bagian investor dengan pembayaran liabilitas kerjasama operasi tanpa kuasa penyelenggaraan, termasuk bagian bunga atas kewajiban kerjasama operasi dalam bentuk bagi pendapatan tol dengan jumlah minimum dan angsuran pasti. Beban kerjasama operasi dalam bentuk bagi hasil pendapatan tol merupakan beban kerjasama operasi dengan PT Bangun Tjipta Sarana, PT Adhika Prakarsatama, dan PT Surya Cipta Swadaya.
Joint Operations Expenses represent the difference between the amount of toll revenues that are investors’ share over payments of liabilities under joint operation agreements without concession rights, including a share of interest charges on joint operation payable in the form of revenue sharing with minimum payments and fixed installment. Joint operations expenses in the form of toll revenue sharing represents joint operations expenses with PT Bangun Tjipta Sarana, PT Adhika Prakarsatama, and PT Surya Cipta Swadaya.
41. Beban Umum dan Administrasi
41. General and Administrative Expenses 2012 Rp
2011 Rp
Gaji dan Tunjangan Pajak Iuran dan Retribusi Administrasi Kantor dan Sumbangan Perbaikan dan Pemeliharaan Aset Jasa Profesional Penyusutan Aset Tetap Bahan Bakar, Listrik dan Air Sewa Transportasi dan Perjalanan Dinas Publikasi Amortisasi Biaya Ditangguhkan Biaya Pengamanan Aset Biaya Administrasi Bank Lainnya
518,154,312 173,535,146 70,614,213 41,387,601 38,063,847 22,134,858 19,332,274 17,159,229 14,395,412 13,067,214 7,774,423 1,062,051 88,458 38,147,015
433,824,299 156,293,526 63,807,135 33,718,312 36,533,038 66,087,911 26,650,725 13,126,483 15,155,463 12,356,523 11,400,384 5,510,466 1,009,092 30,819,797
Salaries and Allowance Taxes, Contribution and Retribution Office Administration and Donation Repair and Maintenance Professional Fees Fixed Asset Depreciation Fuel, Electricity and Water Rental Transportation and Business Travel Publications Amortization of Deffered Charges Security Assets Expenses Bank Administrative Expenses Others
Total
974,916,052
906,293,154
Total
d1/March 24, 2013
82
Paraf: Constructing towards the Future
Annual Report 2012
355
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
42. Biaya Keuangan
42. Finance Charges 2012 Rp
2011 Rp
Utang Obligasi Utang Bank Utang Bantuan Pemerintah Lainnya
613,628,912 297,175,278 894,724 4,446,996
612,489,683 125,815,193 2,095,492 --
Bonds Bank Loans Loan from Government Others
Total
916,145,910
740,400,368
Total
43. Penghasilan Lain-lain
Penghasilan Bunga Deposito Penghasilan Jasa Giro Keuntungan Penjualan Aset Tetap Lainnya Total
43. Other Income 2012 Rp 192,560,785 5,967,903
2011 Rp 227,420,875 3,367,714 189,900 12,766,990 243,745,479
--
201,642,862 400,171,550
44. Beban Lain-lain
Beban Kesehatan Pensiunan Karyawan dan Direksi Kerugian Penjualan Aset Tetap Lainnya Total
44. Other Operating Expenses 2012 Rp
2011 Rp Post-Retirement Health Care Expenses
4,263,801
4,372,795 3,298,797 50,587,122 58,258,714
--
55,430,956 59,694,757
45. Penggunaan Laba
d1/March 24, 2013 Annual Report 2012
Constructing towards the Future
Loss on Disposal of Fixed Assets Others Total
45. Distribution of Income
Undang-undang (UU) No.1 Tahun 1995, tanggal 7 Maret 1995 yang telah diubah dengan UU No.40 Tahun 2007, tanggal 16 Agustus 2007 mengenai Perusahaan Terbatas mengharuskan perusahaan untuk membuat penyisihan cadangan sekurang-kurangnya 20% dari jumlah modal yang ditempatkan dan disetor penuh. UU tersebut tidak mengatur jangka waktu untuk penyisihan cadangan tersebut. Menindaklanjuti hal tersebut maka dengan memperhatikan Keputusan RUPS tanggal 29 April 2008 dan Keputusan Rapat Direksi No.51 tahun 2008 tanggal 9 Desember 2008, Perusahaan memutuskan membentuk Dana Cadangan Wajib sebesar Rp 25.000.000.000 (Rupiah Penuh).
356
Deposits Interest Income Current Accounts Income Gains on Disposal of Fixed Assets Others Total
Law No.1 of 1995 dated March 7, 1995 as amended by Law No.40 Year 2007, dated August 16, 2007 regarding Limited Liability Company ("the Law") requires a company to provide reserves up to at least 20% of the issued and paid up capital. The Law does not require a time frame for the provision of such reserves. Based on decision of the General Meeting of Shareholders dated April 29, 2008 and decision of Directors Meeting No.51 Year 2008 dated December 9, 2008, the Company decided to provide Statutory Reserves amounted to Rp 25,000,000,000 (full Rupiah).
83
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Berdasarkan Keputusan RUPS, penggunaan laba tahuntahun buku 2011 dan 2010 sebagai berikut:
Dividen Cadangan Umum Cadangan Wajib Dana Program Kemitraan dan Bina Lingkungan (PKBL) Total
Based on the General Meeting of Shareholders, the following are distribution of profit of the year 2011 and 2010:
Tahun Buku/ Year 2011 Rp
Tahun Buku/ Year 2010 Rp
535,784,787 751,887,942 25,000,000
716,092,001 416,596,674 25,000,000
26,789,239
35,804,600
Dividend General Reserve Obligatory Reserve Partnership and Community Development Program (PKBL)
1,339,461,968
1,193,493,275
Total
46. Pihak-pihak Berelasi
46. Related Parties
Perusahaan melakukan transaksi dengan pihak-pihak berelasi. Kebijakan Perusahaan mengatur bahwa penetapan harga atas transaksi tersebut sama dengan apabila Perusahaan melakukan transaksi dengan pihak ketiga. Berikut adalah transaksi dengan pihak-pihak berelasi yang material : Pihak Berelasi/ Related Parties
The Company entered into transactions with related parties. The Company's policy requires that the pricing of these transactions should be the same as if the Company entered into transactions with the third parties. Below are the material transactions with related parties :
Hubungan/ Nature of Relationship
Jenis Transaksi/ Nature of Transactions
Pemerintah Republik Indonesia Menteri Keuangan
Dikendalikan oleh Pemerintah Pusat RI/ Controlled by Central Government of the Republic of Indonesia
Hak Konsesi atas Ruang Tol, Utang Bantua Pemerintah, Dana Talangan Pembebasan Tanah, Perpajakan/ Grantor of Toll Road Concession Rights, Loan from Government Bail Out of Land Acquisition, Taxation
PT Bank Mandiri (Persero) Tbk
Dikendalikan oleh Pemerintah Pusat RI/ Controlled by Central Government of the Republic of Indonesia
Penempatan Giro, deposito berjangka, investasi jangka pendek, dana yang dibatasi penggunaannya, fasilitas kredit modal kerja, fasilitas kredit sindikasi, biaya keuangan, pendapatan bunga/ placement of current accounts, time deposits, short term investments, appropriated funds, working capital credit facility, syndicated loans facility, finance charges, interest income
PT Bank Rakyat Indonesia (Persero) Tbk
Dikendalikan oleh Pemerintah Pusat RI/ Controlled by Central Government of the Republic of Indonesia
Penempatan Giro, deposito berjangka, fasilitas kredit Investasi, fasilitas kredit sindikasi, bank untuk pengumpulan tol, biaya keuangan, pendapatan bunga/placement of current accounts, time deposits, investment credit facility, syndicated loans facility, bank for toll collection, finance charges, interest income
PT Bank Nasional Indonesia (Persero) Tbk
Dikendalikan oleh Pemerintah Pusat RI/ Controlled by Central Government of the Republic of Indonesia
Penempatan Giro, deposito berjangka, fasilitas kredit Investasi, fasilitas kredit sindikasi, bank untuk pengumpulan tol, biaya keuangan, pendapatan bunga/placement of current accounts, time deposits,
PT Bank Tabungan Negara (Persero) Tbk
Dikendalikan oleh Pemerintah Pusat RI/ Controlled by Central Government of the Republic of Indonesia
investment credit facility, syndicated loans facility, bank for toll collection, finance charges, interest income Penempatan Giro, deposito berjangka, fasilitas kredit Investasi, fasilitas kredit sindikasi, biaya keuangan, pendapatan bunga/ placement of current accounts, time deposits, investment credit facility, syndicated loans facility, finance charges, interest income
PT Adhi Karya (Persero) Tbk
Dikendalikan oleh Pemerintah Pusat RI/ Controlled by Central Government of the Republic of Indonesia
Kontraktor dalam pembangunan dan pemeliharaan aset tetap dan jalan tol/ Contractor for construction and maintenance of fixed assets and toll roads
PT Wijaya Karya (Persero) Tbk
Dikendalikan oleh Pemerintah Pusat RI/ Controlled by Central Government of the Republic of Indonesia
Kontraktor dalam pembangunan dan pemeliharaan aset tetap dan jalan tol/Contractor for construction and maintenance of fixed assets and
PT Waskita Karya (Persero)
Dikendalikan oleh Pemerintah Pusat RI/ Controlled by Central Government of the Republic of Indonesia
Kontraktor dalam pembangunan dan pemeliharaan aset tetap dan jalan tol/ Contractor for construction and maintenance of fixed assets and
toll roads
toll roads
d1/March 24, 2013
84
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357
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
a. Pemerintah Induk Perusahaan memiliki Perjanjian Pengusahaan Jalan Tol (PPJT) dengan Badan Layanan Umum-Badan Pengatur Jalan Tol (BLU-BPJT) mengenai penggunaan fasilitas pinjaman dana untuk pengadaan tanah dalam rangka pembangunan jalan tol baru. Ketika PPJT dialihkan dari Entitas Induk ke Entitas Anak, Utang BLU secara otomatis menjadi milik Entitas Anak. Total transaksi untuk tahun 2012 dan 2011 adalah masingmasing sebesar Rp 1.095.041.232 (Rupiah Penuh) dan Rp 1.164.176.215 (Rupiah Penuh).
a. Government The Parent Entity has a Toll Road Concession Agreements (PPJT) with the General Services AgencyToll Road Regulatory Agency (BLU-BPJT), regarding the use of funds loan facilities for land acquisition designated for the development of new toll roads. When PPJT is transferred from the Parent Company to its Subsidiaries, these BLU Payables automatically belonged to the Subsidiaries. Total transactions for 2012 and 2011 amounted to Rp 1,095,041,232 (full Rupiah) and Rp 1,164,176,215 (full Rupiah), respectively.
b. Remunerasi Komisaris dan Direksi (i). Jumlah remunerasi yang diterima Dewan Komisaris untuk tahun-tahun yang berakhir pada 31 Desember 2012 dan 2011 masing-masing sebesar Rp 7.337.164.708 (Rupiah Penuh) dan Rp 6.865.437.795 (Rupiah Penuh).
b. Remuneration of Commissioners and Directors (i) Total remuneration received by the Board of Commissioners for the years ended on December 31, 2012 and 2011 amounted to Rp 7,337,164,708 (full Rupiah) and Rp 6,865,437,795 (full Rupiah), respectively.
(ii) Jumlah remunerasi yang diterima Dewan Direksi untuk tahun-tahun yang berakhir pada 31 Desember 2012 dan 2011 masing-masing sebesar Rp 16.213.235.295 (Rupiah Penuh) dan Rp 14.963.897.202 (Rupiah Penuh).
(ii) Total remuneration received by the Board of Directors for the years ended on December 31, 2012 and 2011 amounted to Rp 16,213,235,295 (full amount) and Rp 14,963,897,202 (full amount), respectively.
Perusahaan memiliki piutang kepada PT Trans Lingkar Kita Jaya, PT Wijaya Karya (Persero) dan PT Istaka Karya (Persero) sebesar Rp 21.045.432 dan Rp 28.935.087 masing-masing per 31 Desember 2012 dan 2011.
The Company has receivables to the employees, PT Trans Lingkar Kita Jaya, PT Wijaya Karya, dan PT Istaka Karya amounting to Rp 21.045.432 and Rp 28.935.087 as of December 31, 2012 and 2011, respectively.
Perusahaan memiliki dana yang ditetapkan penggunaannya pada PT Bank Mandiri (Persero) Tbk. Total saldo masing-masing per 31 Desember 2012 dan 2011 adalah sebesar Rp 36.864.370 dan Rp 12.144.985.
The Company has appropriated funds at PT Bank Mandiri (Persero) Tbk. Total balances respectively as of December 31, 2012 and 2011 amounting to Rp 36,864,370 and Rp 12,144,985 respectively.
Grup memiliki utang bank kepada pihak berelasi yang digunakan untuk membiayai pembangunan jalan tol sebesar Rp 3.030.599.080 dan Rp 1.729.235.591 masing-masing untuk tahun 2012 dan 2011 (lihat Catatan 17).
The Group have bank loans to related parties to finance the construction of new toll roads. Total of balances of bank loans from related parties transaction for 2012 and 2011 amounting to Rp 3,030,599,080 and Rp 1,729,235,591, respectively (see Note 17).
Induk Perusahaan melakukan transaksi atas pekerjaan pelapisan ulang aset takberwujud jalan tol untuk memenuhi persyaratan Standar Pelayanan Minimum yang ditetapkan oleh Badan Pengatur Jalan Tol (BPJT). Pekerjaan pelapisan ulang diserahkan kepada kontraktor BUMN maupun kontraktor swasta. Total pekerjaan pelapisan ulang atas transaksi dengan pihak berelasi masing-masing tahun 2012 dan 2011 adalah sebagai berikut:
Parent Company entered into toll roads overlay transactions for its intangible assets in fulfilling the minimum level of services (Standar Pelayanan Minimum – SPM) decided by the Indonesian Toll Road Authority (Badan Pengatur Jalan Tol – BPJT). The work of overlay submitted to both the BUMN and private contractors. Total of the work of overlay transaction with related parties in 2012 and 2011 are as follows:
2012 Rp PT Adhi Karya (Persero) Tbk
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2011 Rp
21,743,995
95,038,212
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
c. Lain-lain Saldo transaksi dengan pihak berelasi per 31 Desember 2012 dan 2011, sebagal berikut :
c. Others Ending balance of related parties transactions as of December 31, 2012 and 2011 :
Aset 2012 Rp Kas dan Setara Kas 2,310,254,608 Piutang lainnya 21,045,432 Dana Ditetapkan Penggunaannya 36,864,370
Persentase dari Total Aset/ Percent from Total Assets 2012 2011 % %
2011 Rp 2,866,531,474 28,935,087 7,644,985
Liabilitas 2012 Rp Utang Bank Utang Usaha Utang Kontraktor Utang Bantuan Pemerintah Utang Pembebasan Tanah Utang Lainnya
9.30% 0.08% 0.15%
2011 Rp
3,030,599,080 9,852,756 1,094,451,677
1,729,235,591 5,603,277 319,779,286
20.13% 0.07% 7.27%
5,886,734 1,183,533,904 9,858,000
20,329,636 1,175,200,215 10,830,000
0.04% 7.86% 0.07%
2. 3. 4. 5. 6. 7.
13.81% 0.04% 2.55% 0.16% 9.39% 0.09%
Liability
Bank Loans Account Payables Contractors' Payables Loans from Governement Land Acquisition Liabilities Other Payables
a. Consession Agreements
Perusahaan telah memperoleh penetapan hak pengusahaan jalan tol (Hak Konsesi) yang diterbitkan oleh Pemerintah meliputi 13 (tiga belas) ruas jalan tol berdasarkan Keputusan Menteri Pekerjaan Umum No. 242/KPTS/M/2006, tanggal 8 Juni 2006 yang kemudian ditindaklanjuti dengan penandatanganan Perjanjian Pengusahaan Jalan Tol (PPJT) pada tanggal 7 Juli 2006 untuk masingmasing ruas jalan tol, dengan masa konsesi selama 40 (empat puluh) tahun, yang berlaku efektif sejak tanggal 1 Januari 2005 sampai dengan 31 Desember 2045, dengan rincian sebagai berikut:
(i)
Ruas Jakarta - Bogor - Ciawi, berdasark PPJT No. 246/PPJT/VII/Mn/2006; Ruas Jakarta - Tangerang, berdasarkan PPJT No. 247/PPJT/VII/Mn/2006; Ruas Surabaya - Gempol, berdasarkan PPJT No. 248/PPJT/VII/Mn/2006; Ruas Jakarta - Cikampek, berdasarkan PPJT No. 249/PPJT/VII/Mn/2006; Ruas Padalarang - Cileunyi, berdasarkan PPJT No. 250/PPJT/VII/Mn/2006; Ruas Prof. Dr. Ir. Sedyatmo, berdasarkan PPJT No. 251/PPJT/VII/Mn/2006; Ruas Cawang - Tomang - Pluit, berdasarkan PPJT No. 252/PPJT/VII/Mn/2006;
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Cash and Cash Equivalents Accounts Receivable Appropriated Funds
47. Significant Agreement and Commitment
a. Perjanjian Pengusahaan Jalan Tol (PPJT)
1.
13.73% 0.14% 0.04%
Persentase dari Total Liabilitas/ Percent from Total Liabilities 2012 2011 % %
47. Perjanjian dan Perikatan Penting
(i)
Assets
1. 2. 3. 4. 5. 6. 7.
The Company has acquired the right of toll road concession (Concession Right) issued by the Government, which consists of 13 (thirteen) toll road segments, in accordance with Minister of Public Works Decree No. 242/KPTS/M/2006, dated June 8, 2006, followed by the signing of the Toll Road Concession Agreement (PPJT) for each toll road dated July 7, 2006 with concession period of 40 (forty) years, effective as of January 1, 2005 until December 31, 2045 with details as follows:
Jakarta – Bogor – Ciawi Segment, according to PPJT No. 246/PPJT/VII/Mn/2006; Jakarta – Tangerang Segment, according to PPJT No. 247/PPJT/VII/Mn/2006; Surabaya – Gempol Segment, according to PPJT No. 248/PPJT/VII/Mn/2006; Jakarta – Cikampek Segment, according to PPJT No. 249/PPJT/VII/Mn/2006; Padalarang – Cileunyi Segment, according to PPJT No. 250/PPJT/VII/Mn/2006; Prof. Dr. Ir. Sedyatmo Segment, according to PPJT No. 251/PPJT/VII/Mn/2006; Cawang - Tomang – Pluit Segment, according to PPJT No. 252/PPJT/VII/Mn/2006;
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8. 9. 10. 11. 12. 13.
Ruas Belawan - Medan - Tanjung Morawa, PPJT No. 253/PPJT/VII/Mn/2006; Ruas Semarang Seksi A, B, C, berdasarkan PPJT No. 254/PPJT/VII/Mn/2006; Ruas Pondok Aren - Bintaro Viaduct - Ulujami, berdasarkan PPJT No. 255/PPJT/VII/Mn/2006; Ruas Palimanan - Kanci, berdasarkan PPJT No. 256/PPJT/VII/Mn/2006; Ruas Lingkar Luar Jakarta (JORR) Ruas E1, E2, E3, W2, berdasarkan PPJT No.257/PPJT/VII/Mn/2006; dan Ruas Cikampek - Padalarang, berdasarkan PPJT No. 258/PPJT/VII/Mn/2006.
8. 9. 10. 11. 12. 13.
Belawan - Medan - Tanjung Morawa Segment, according to PPJT No. 253/PPJT/VII/Mn/2006; Semarang Segment, Sections A, B, C according to PPJT No. 254/PPJT/VII/Mn/2006; Pondok Aren - Bintaro Viaduct – Ulujami Segment, according to PPJT No. 255/PPJT/VII/Mn/2006; Palimanan – Kanci Segment, according to PPJT No. 256/PPJT/VII/Mn/2006; Jakarta Outer Ring Road Segment, Sections E1, E2, E3, W2, according to PPJT No. 257/PPJT/VII/Mn/2006; and Cikampek – Padalarang Segment, according to PPJT No. 258/PPJT/VII/Mn/2006.
Sehubungan dengan perolehan Hak Konsesi dimaksud, Perusahaan diwajibkan membentuk jaminan pemeliharaan dengan nilai sekurang-kurangnya 10% (sepuluh persen) dari realisasi pendapatan tol dan pendapatan usaha lain yang diterima pada atau sebelum tahun terakhir masa konsesi dimana besarannya didasarkan pada laporan keuangan tahunan terakhir yang tersedia dan telah diaudit. Jaminan pemeliharaan tersebut diserahkan kepada Pemerintah melalui Badan Pengelola Jalan Tol (BPJT) dalam waktu 6 (enam) bulan sebelum masa konsesi berakhir dan jaminan pemeliharaan ini tetap berlaku sampai dengan 12 (dua belas) bulan setelah berakhirnya masa konsesi.
With regard to the above Concession Rights, the Company is required to establish a maintenance guarantee with a value in the amount of not less than 10% (ten percent) from the actual toll revenue and revenue obtained from other businesses on or before the last year of the concession period whereby such amount is calculated based on the latest audited annual financial statements. The aforementioned maintenance guarantee shall be given to the Government through Indonesian Toll Road Authority (BPJT) within 6 (six) months before the expiration of concession period and shall prevail for the successive 12 (twelve) months from the expiration of concession period
(ii) Perjanjian Investasi Jalan Tol 1. Ruas Bogor Outer Ring Road Perusahaan dan PT Jasa Sarana telah menandatangani Akta Kerjasama Pendanaan dan Investasi Pengusahaan Jalan Tol Ruas Lingkar Luar No. 10, tanggal 3 Oktober 2006, dari Notaris Agus Madjid, SH, dan Perjanjian Usaha Patungan No. 9, tanggal 11 Mei 2007, dari Notaris Iwan Ridwan, SH, untuk melaksanakan pengusahaan jalan tol yang meliputi pendanaan, perencanaan teknik, pelaksanaan konstruksi, pengoperasian dan pemeliharaan jalan tol, serta usaha-usaha lainnya yang terkait. Perjanjian Usaha Patungan tersebut berlaku sejak tanggal penandatanganan perjanjian sampai dengan akhir masa konsesi sesuai PPJT (lihat Catatan 1.b).
(ii) Toll Road Investment Agreement 1. Bogor Outer Ring Road Segment The Company and PT Jasa Sarana have signed Deed of Financing and Investment of Toll Road Concession Cooperation of Bogor Outer Ring Road No. 10, dated October 3, 2006, from Notary Agus Madjid, SH, and Deed of Joint Venture Agreement No. 9, dated May 11, 2007, from Notary Iwan Ridwan, SH, in order to implement the toll road concession, which consists of financing, technical plan, construction, operation, and maintenance of the toll road, as well as other related businesses. Such Joint Venture Agreement is effective as of the date of signing until the expiration date of concession period in accordance with the PPJT (see Note 1.b).
2.
Ruas Gempol – Pasuruan Perusahaan dan PT Jatim Marga Utama telah menandatangani Akta Kerjasama Pendanaan dan Investasi Pengusahaan Jalan Tol Gempol Pasuruan No.11, tanggal 3 Oktober 2006, dari Notaris Agus Madjid, SH, dan Akta Perjanjian Usaha Patungan No. 28, tanggal 8 Mei 2007 dari Notaris Retno Suharti, SH, untuk melaksanakan pengusahaan jalan tol yang
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Gempol – Pasuruan Segment The Company and PT Jatim Marga Utama have signed Deed of Financing and Investment of Toll Road Concession Cooperation of Gempol Pasuruan No. 11, dated October 3, 2006, from Notary Agus Madjid, SH, and Deed of Joint Venture Agreement No. 28, dated May 8, 2007, from Notary Retno Suharti, SH, in order to implement the toll road concession, which Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
meliputi pendanaan, perencanaan teknik, pelaksanaan konstruksi, pengoperasian dan pemeliharaan jalan tol, serta usaha-usaha lainnya yang terkait. Perjanjian Usaha Patungan tersebut berlaku sejak tanggal penandatanganan perjanjian sampai dengan akhir masa konsesi sesuai PPJT.
consists of financing, technical plan, construction, operation, and maintenance of the toll road, as well as other related businesses. Such Joint Venture Agreement is effective as of the date of signing until the expiration date of concession period in accordance with the PPJT.
3.
Ruas Semarang - Solo Perusahaan dan PT Sarana Pembangunan Jawa Tengah telah menandatangani Akta Perjanjian Usaha Patungan No. 35, tanggal 8 Juni 2007, dari Notaris Prof. Dr. Liliana Tedjosaputro, SH, MH, untuk melaksanakan pengusahaan jalan tol yang meliputi pendanaan, perencanaan teknik, pelaksanaan konstruksi, pengoperasian dan pemeliharaan jalan tol, serta usaha-usaha lainnya yang terkait. Perjanjian Usaha Patungan tersebut berlaku sejak tanggal penandatanganan perjanjian sampai dengan akhir masa konsesi sesuai PPJT (lihat Catatan 1.b).
3.
Semarang - Solo Segment The Company and PT Sarana Pembangunan Jawa Tengah have signed Deed of Joint Venture Agreement No. 35, dated June 8, 2007, from Notary Prof. Dr. Liliana Tedjosaputro, SH, MH, in order to implement the toll road concession which consists of financing, technical plan, construction, operation, and maintenance of the toll road, as well as other related businesses. Such Joint Venture Agreement is effective as of the date of signing until the expiration date of concession period in accordance with the PPJT (see Note 1.b).
4.
Ruas Cengkareng - Kunciran Perusahaan telah menandatangani Akta Perjanjian Konsorsium No. 03/CMS/PKK-XII/05 berdasarkan Akta No. 53, tanggal 21 Mei 2007 dari Notaris Ny. Poerbaningsih Adi Warsito, SH. Notaris Konsorium tersebut terdiri dari (i) Perusahaan; (ii) CMS Works International Limited, Malaysia; (iii) PT Wijaya Karya (Persero); (iv); PT Nindya Karya (Persero); dan (v) PT Istaka Karya (Persero) untuk membangun ruas tol Cengkareng – Kunciran.; Proporsi Perusahaan dalam penyertaan saham di konsorsium tersebut sebesar 20% (dua puluh persen).
4.
Cengkareng – Kunciran Segment The Company has entered into the Consortium Agreement No. 03/CMS/PKK-XII/05 as set forth in Deed No. 53, dated May 21, 2007 from Notary Mrs. Poerbaningsih Adi Warsito, SH Notary The Consortium consists of (i) the Company; (ii) CMS Works International Limited, Malaysia; (iii) PT Wijaya Karya (Persero); (iv) PT Nindya Karya (Persero); and (v) PT Istaka Karya (Persero) to build Cengkareng – Kunciran Toll Road Segment. The Company’s shares proportion in such Consortium is 20% (twenty percent).
Berdasarkan Adendum Perjanjian Konsorsium No. 03/CMS/PKK-XII/05 dengan Akta No. 52, tanggal 21 Mei 2007 dari Notaris Ny. Poerbaningsih Adi Warsito, SH. Proporsi Perusahaan dalam penyertaan saham di Konsorsium tersebut mengalami perubahan menjadi 55% (lima puluh lima persen).
According to Addendum of Consortium Agreement No. 03/CMS/PKK-XII/05 as set forth in Deed No. 52, dated May 21, 2007 made before Ny. Poerbaningsih Adi Warsito, SH. The Company’s shares proportion in such Consortium is increased to 55% (fifty five percent).
Berdasarkan Akta Pendirian No. 7, tanggal 14 Mei 2008, dari Notaris Suzy Anggraini Muharam, SH, telah didirikan PT Marga Kunciran Cengkareng, sehubungan dengan proyek Jalan Tol Kunciran Cengkareng.
According to Deed of Establishment No. 7, dated May 14, 2008, from Notary Suzy Anggraini Muharam, SH, Notary in Jakrta, PT Marga Kunciran Cengkareng was established in relation to the Kunciran – Cengkareng Toll Road project.
Berdasarkan Akta No. 22 tanggal 13 Desember 2010, Akta No. 23 tanggal 13 Desember 2010, Akta No. 32 tanggal 15 Desember 2010, Akta No. 37 tanggal 16 Desember 2010, yang seluruhnya dari Nataris Dra. Ayu Tiara Siregar,
According to Deed No. 22 dated December 13, 2010, Deed No. 23 dated December 13, 2010, Deed No. 32 dated December 15, 2010, Deed No. 37 dated December 16, 2010, all of which from Notary Dra. Ayu Tiara Siregar, SH, Notary
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
SH. Notaris di Tangerang, perihal Jual Beli Saham antara Perusahaan dengan PT Istaka Karya (Persero), PT Nindya Karya (Persero), PT Wijaya Karya (Persero) Tbk., dan CMS Works International Limited (CMS WIL), dan Akta Pernyataan Keputusan Rapat Para Pemegang Saham PT Marga Kunciran Cengkareng No. 40 tanggal 17 Desember 2010, Proporsi Perusahaan dalam penyertaan saham atas PT Marga Kunciran Cengkareng berubah menjadi 75% (tujuh puluh lima persen). 5.
in Tangerang, concerning Sale and Purchase of Shares between PT Istaka Karya (Persero), PT Nindya Karya (Persero), PT Wijaya Karya (Persero) Tbk., and CMS Works International Limited (CMS WIL), and Deed of Statement of Resolution of General Meeting of Shareholders of PT Marga Kunciran Cengkareng No. 40 dated December 17, 2010, The Company’s shares proportion in PT Marga Kunciran Cengkareng is increased to 75% (seventy five percent).
Ruas Kunciran – Serpong Perusahaan telah menandatanganiAkta Perjanjian Konsorsium No. 60 tanggal 22 Mei 2007, dari Notaris Benny Kristianto, SH, Notaris di Jakarta Konsorsium tersebut terdiri dari (i) Perusahaan; (ii) PT Astratel Nusantara; (iii) PT Leighton Contractors Indonesia; dan (iv) PT Transutama Arya Sejahtera untuk membangun ruas tol Kunciran – Serpong. Proporsi Perusahaan dalam penyertaan saham di konsorsium tersebut sebesar 10% (sepuluh persen).
5.
Berdasarkan Perjanjian Para Pendiri Konsorsium dengan Akta No. 24, tanggal 22 Mei 2007 dari Notaris Benny Kristianto, SH. antara lain menyebutkan bahwa porsi kepemilikan Perusahaan dalam Konsorsium tersebut berubah menjadi 60% (enam puluh persen). Dimana para pihak setuju untuk merealisasikan porsi kepemilikan final sesegera mungkin dengan ketentuan yang ada. Para pihak mengindikasikan bahwa realisasi tersebut akan diusahakan untuk diberlakukan segera setelah Konsorsium ALJ dinyatakan sebagai pemenang proyek dan sebelum pembentukan Perusahaan.
According to the Deed of Consortium Founder Agreement No. 24 dated May, 22, 2007 from Notary Benny Kristianto, SH. The Company’s shares proportion in the Consortium is increased to 60% (sixty percent) whereby the parties agreed to promptly finalize the realization of such shares proportion in accordance with the prevailing terms and conditions. The Parties indicated that such realization shall be made effective upon ALJ Consortium being awarded the bid for the project and prior to the establishment of the Toll Road Company.
Pada Tanggal 14 Mei 2008 berdiri perusahaan konsorsium PT Marga Trans Nusantara berdasarkan Akta No. 8 dari Notaris Suzy Anggraini Muharam, SH, sehubungan dengan proyek Jalan Tol Kunciran-Serpong. 6.
Annual Report 2012
Based on the Deed of Establishment No. 8, dated May 14, 2008, from Notary Suzy Anggraini Muharam, SH, PT Marga Trans Nusantara was established in relation to the Kunciran - Serpong Toll Road project.
Ruas JORR Seksi W2 Utara Pada tanggal 2 April 2007, Perusahaan bersama-sama dengan PT Jakarta Propertindo telah menandatangani Perjanjian Pendahuluan tentang Rencana Kerjasama Pengusahaan Jalan Tol JORR W2 Utara. Pada Tanggal 24 Agustus 2009 berdiri Perusahaan konsorsium PT Marga Lingkar Jakarta berdasarkan Akta No.26 dari Notaris Edi Priyono, SH. dan telah disahkan oleh Menteri Kehakiman Republik
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Kunciran – Serpong Segment The Company has signed Deed of Consortium Agreement No. 60 dated May 22, 2007 from Notary Benny Kristianto, SH. The Consortium consists of (i) the Company; (ii) PT Astratel Nusantara; (iii) PT Leighton Contractors Indonesia; and (iv) PT Transutama Arya Sejahtera to build Kunciran – Serpong Toll Road. The Company’s shares proportion in such Consortium is 10% (ten percent).
6.
89
JORR Segment, Section W2 North On April 2, 2007, the Company and PT Jakarta Propertindo have signed the Preliminary Agreement concerning Cooperation Plan of Toll Road Concession of North Jakarta Outer Ring Road Section W2. Furthermore, by Deed No. 26 dated August 24, 2009 of notary Edi Priyono, SH, the Consortium Party has incorporated PT Marga Lingkar Jakarta which has been legalized with Minister of Law and Human Rights Decree Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Indonesia No. C-98-HT.03.02-Th 2002. Porsi Perusahaan dalam penyertaan saham dalam konsorsium tersebut sebesar 65% (enam puluh lima persen).
No. C-98-HT.03.02-Th 2002. The shares proportion of the Company in such Consortium has been defined in the amount of 65% (sixty five percent).
b. Perjanjian Fasilitas Kredit Investasi
b. Investment Credit Facility Agreements
PT Bank Mandiri (Persero) Tbk Pada tanggal 7 Maret 2007, Perusahaan memperoleh fasilitas kredit investasi dari PT Bank Mandiri (Persero) Tbk. dengan jumlah seluruhnya sebesar Rp 2.881.802.800.000 (Rupiah penuh) terdiri dari: (I) Perjanjian Kredit Investasi No. KP.COD/PK.KI/006/2007 sebesar Rp 1.879.184.000.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Semarang - Solo. Jangka waktu fasilitas kredit selama 15 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate (ii) Perjanjian Kredit Investasi No. KP.COD/PK.K1/007/2007 sebesar Rp 450.682.000.000 (Rupiah penuh) untuk pembiayaan proyek pembangunan jalan tol ruas Bogor Ring Road. Jangka waktu fasilitas kredit selama 15 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate, dan (iii) Perjanjian Kredit Investasi No. KP.COD/PK.KI/008/2007 sebesar Rp 551.936.800.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Gempol Pasuruan. Jangka waktu fasilitas kredit selama 13 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate.
PT Bank Mandiri (Persero) Tbk On March 7, 2007, the Company obtained investment credit facilities from PT Bank Mandiri (Persero) Tbk. amounting to Rp 2,881,802,800,000 (full Rupiah) consisting of: (i) Investment Credit Agreement No, KP.COD/PK.KI/006/2007 amounting to Rp 1,879,184,000,000 (full Rupiah) for financing The Construction of the Semarang-Solo toll road section. The credit facility period is 15 years. Interest is to be paid monthly at an interest rate of 14% per annum, floating rate, (ii) Investment Credit Agreement No. KP.COD/PK.K1/007/2007 amounting to Rp 450,682,000,000 (full Rupiah) for financing the construction of the Bogor Ring Road toll road section. The credit facility period is 15 years. Interest is to be paid monthly at an interest rate of 14% per annum, floating rate, and (iii) Investment Credit Agreement No. KP.COD/PK.KI/008/2007 amounting to Rp 551,936,800,000 (full Rupiah) for financing The Construction of the Gempol - Pasuruan toll road section The credit facility period is 13 years. Interest is to be paid monthly with an interest rate of 14% per annum, floating rate.
PT Bank Negara Indonesia (Persero) Tbk Pada tanggal 7 Maret 2007, Perusahaan memperoleh fasilitas kredit investasi dari PT Bank Negara Indonesia (Persero) Tbk, dengan jumlah seluruhnya sebesar Rp 2.521.577.450.000 (Rupiah penuh) terdiri dari: (i) Perjanjian Kredit Investasi No.13/PK/KPI/2007 sebesar Rp 394.346.750.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Bogor Ring Road. Jangka waktu fasilitas kredit selama 15 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate, (ii) Perjanjian Kredit Investasi No.14/PK/KPI/2007 sebesar Rp 482.944.700.000 (Rupiah penuh) untuk pembiayaan proyek pembangunan jalan tol ruas Gempol - Pasuruan. Jangka waktu fasilitas kredit selama 15 tahun. Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate, dan (iii) Perjanjian Kredit Investasi No.15/PK/KPI/2007 sebesar Rp 1.644.286.000.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Semarang - Solo. Jangka waktu fasilitas kredit selama 15 tahun, Pembayaran bunga dilakukan setiap bulan dengan tingkat bunga pinjaman 14% per tahun, floating rate.
PT Bank Negara Indonesia (Persero) Tbk On March 7, 2007, the Company obtained investment credit facilities from PT Bank Negara Indonesia (Persero) Tbk. amounting to Rp 2,521,577,450,000 (full Rupiah) consisting of: (I) Investment Credit Agreement No.13/PK/KPI/2007 amounting to Rp 394,346,750,000 (full Rupiah) for financing The Construction of the Bogor Ring Road toll road section. The credit facility period is 15 years. Interest is to be paid monthly with an interest rate of 14% per annum, floating rate, (ii) Investment Credit Agreement No.14/PK/KPI/2007 amounting to Rp 482,944,700,000 (full Rupiah) for financing the construction of the Gempol - Pasuruan toll road section. The credit facility period is 15 years. Interest is to be paid monthly with an interest rate 14% per annum, floating rate, and (iii) Investment Credit Agreement No.15/PK/KPI/2007 is amounting to Rp 1,644,286,000,000 (full Rupiah) for financing The Construction of the Semarang - Solo toll road section. The credit facility period is 15 years. Interest is to be paid monthly with an interest rate of 14% per annum, floating rate.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT Bank Rakyat Indonesia (Persero) Tbk Pada tanggal 7 Maret 2007, Perusahaan menandatangani Perjanjian untuk Memberikan Fasilitas Kredit Investasi dari PT Bank Rakyat Indonesia (Persero) Tbk. dengan jumlah seluruhnya sebesar Rp 1.537.089.043.000 (Rupiah penuh) yang akan berlaku efektif setelah Perjanjian Kredit Investasi atas fasilitas pinjaman tersebut ditandatangani terdiri dari: (i) Perjanjian untuk Memberikan Fasilitas Kredit Investasi No.12/2007 sebesar Rp 184.750.000,000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Bogor Ring Road, (ii) Perjanjian untuk Memberikan Fasilitas Kredit Investasi No.13/2007 sebesar Rp 326.500.000.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Gempol - Pasuruan, dan (iii) Perjanjian untuk Memberikan Fasilitas Kredit Investasi No.14/2007 sebesar Rp 1.025.839.043.000 (Rupiah penuh) untuk pembiayaan Proyek Pembangunan Jalan Tol ruas Semarang - Solo.
PT Bank Rakyat Indonesia (Persero) Tbk On March 7, 2007, the Company signed an agreement to obtain investment credit facilities from PT Bank Rakyat Indonesia (Persero) Tbk amounting to Rp 1,537,089,043,000 (full Rupiah) that will be effective after the Investment Credit Agreement has been signed, The facilities include: (I) agreement for the provision of investment credit facility No.12/2007 amounting to Rp 184,750,000,000 (full Rupiah) for financing The Construction of the Bogor Ring Road toll road section; (ii) agreement for the provision of investment credit facility No.13/2007 amounting to Rp 326,500,000,000 (full Rupiah) for financing The Construction of the Gempol - Pasuruan toll road section; and (iii) agreement for the provision of investment credit facility No.14/2007 amounting to Rp 1,025,839,043,000 (full Rupiah) for financing The Construction of the Semarang - Solo toll road.
Sampai dengan tanggal laporan keuangan, Perusahaan belum menggunakan fasilitas pinjaman dari ketiga bank tersebut.
Until the date of the financial statements, the Company has not used these loan facilities.
c. Perjanjian Penggunaan Dana Bergulir Pembelian Tanah untuk Jalan Tol dengan BLU - BPJT
c. Agreement of Fund Facility for Reimbursement of Land Aquisition for toll road with BLU-BPJT
Perusahaan telah memiliki perjanjian dengan BLU BPJT, mengenai penggunaan dana bergulir untuk penggantian pembelian tanah dalam rangka pengusahaan ruas jalan tol Semarang - Solo, Gempol Pasuruan dan Bogor Ring Road masing-masing sebesar Rp 127.000.000.000 (Rupiah penuh), Rp 100.000.000.000 (Rupiah penuh) dan Rp 80.000.000.000 (Rupiah penuh) sesuai dengan Akta No.1, 2, dan 3 tanggal 6 Juni 2007 dari Notaris Suzy Anggraini Muharam, SH.
The Company has entered into an agreement with the Public Service Assistance Unit ("Badan Layanan Umum /BLU') of the Indonesian Toll Road Authority (ITRA) based on the Notarial Deed No.1, 2, and 3 of Suzy Anggaraini Muharam, SH dated June 6, 2007 regarding fund usage for financing land acquisition for three toll road projects Semarang - Solo, Gempol - Pasuruan, and Bogor Ring Road sections amounting to Rp 127,000,000,000 (full Rupiah), Rp 100,000,000,000 (full Rupiah) and Rp 80,000,000,000 (full Rupiah), respectively.
Tata cara penggunaan dana bergulir pada Badan Layanan Umum - Badan Pengatur Jalan Tol (BLU-BPJT) untuk pengadaan tanah jalan tol diatur dalam Peraturan Menteri PU No.04/PRT/M/2007, tanggal 26 Februari 2007. BLU-BPJT akan melaksanakan pembayaran terlebih dahulu (dana talangan), Pembelian Tanah untuk pembangunan Ruas Jalan Tol yang merupakan kewajiban dari Perusahaan kepada Pemerintah sebagaimana diatur dalam PPJT. Dalam hal 1 (satu) Seksi selesai dibebaskan, Badan Usaha harus mentransfer seluruh biaya ganti rugi tanah termasuk bunga ke Rekening BLU-BPJT dan BLU-BPJT membuat Berita Acara Serah Terima Tanah kepada Badan Usaha.
The procedure using of pre-fund at Public Service Assistance Unit (Badan Layanan Umum/BLU) of the Indonesian Toll Road Authority (ITRA) for toll road land acquisition based on the Decree of Public Works No.04/PRT/M/2007, dated Februari 26, 2007. BLUBPJT will conduct the payment firstly, acquisition land for toll road construction which represent Company's obligation to Government according to concession rights agreement (PPJT). In case one section has completed, the entity should transfer all indemnity costs including interest to BLU-BPJT account and BLU-BPJT should make minutes of land hand over to the entity.
Dalam hal Perjanjian Pengusahaan Ruas Jalan Tol untuk ruas jalan tol Semarang - Solo, Gempol - Pasuruan dan Bogor Ring Road dialihkan kepada entitas anak dari
After the transfer of the Company's rights under the Concession Agreements for Semarang - Solo, Gempol Pasuruan, and Bogor Ring Road toll road to subsidiaries,
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Perusahaan, maka hak dan kewajiban Perusahaan dalam Perjanjian Penggunaan Dana BLU ini akan dialihkan kepada entitas anak.
the Company's rights and obligations in the BLU Fund Usage Agreement will be transferred to subsidiaries.
Menunjuk Peraturan Menteri Pekerjaan Umum No.14/PRT/M/2008 tentang tata cara penggunaaan dana bergulir pada Badan Layanan Umum - Badan Pengatur Jalan Tol untuk pengadaan tanah jalan tol, mengatur penghapusan surety bond (jaminan) dalam perjanjian Penggunaan Dana Bergulir BLU, maka sebagai pengganti jaminan atas pengembalian dana bergulir ini akan diberlakukan cross default PPJT apabila badan usaha gagal membayar dana bergulir BLU.
Referring to the Decree of the Minister of Public Works No.14/PRT/M/2008 regarding the procedure of pre-fund usage at Public Service Assistance Unit ("Badan Layanan Umum /BLU”) for land acquisition of toll road, manage the surety bond erasing on pre-fund usage agreement of BLU, therefore as a replacement of guarantee on the pre-fund return, then will be occured cross default PPJT if the entity failed to pay such prefund from BLU.
d. Kerjasama Pengoperasian Jalan Tol dan Perjanjian Pinjaman dengan PT Jalan tol Lingkarluar Jakarta Berdasarkan Surat Kuasa No.111/SK/2003, tanggal 21 Nopember 2003, Perusahaan telah memberi kuasa kepada PT Jalantol Lingkarluar Jakarta (JLJ) (Entitas Anak), untuk melakukan pengoperasian, pengamanan, dan pemeliharaan Aset proyek JORR termasuk penyerahan pelaksanaan pekerjaan penyelenggaraan usaha lain. Surat Kuasa tersebut terakhir diubah dengan Surat Perubahan II tanggal 29 Desember 2006, jangka waktu kuasa selama 1 tahun terhitung sejak tanggal 29 Desember 2006.
d. Toll Road Joint Operation and Financing Agreement with PT Jalantol Lingkarluar Jakarta Based on the Power of Attorney No.111/SK/2003 dated November 21, 2003, the Company has given authority to PT Jalantol Lingkarluar Jakarta (JLJ) (the Subsidiary) to operate, safeguard, and maintain JORR project assets and to manage other operations. The Power of Attorney mentioned was changed with Alteration Letter II dated December 29, 2006, to extend the due date for 1 (one) year effective from December 29, 2006.
Berdasarkan akta perjanjian No: 068/KONTRAKDIR/2010 tanggal 30 Desember 2010, Perusahaan telah menyerahkan pelaksanaan pengoperasian, pengamanan, dan pemeliharaan Jalan Tol Ruas JORR dan Ruas Ulujami-Pondok Aren selama jangka waktu 3 tahun terhitung sejak tanggal 1 Januari 2011 sampai dengan 31 Desember 2013. Pada tanggal 29 Desember 2011 akta perjanjian tersebut telah diubah dengan Addendum I atas Perjanjian pengoperasian, Pengamanan, dan Pemeliharaan Jalan Tol Ruas JORR Seksi W2, S, El, dan E2+E3 serta Ruas Ulujami - Pondok Aren. Berdasarkan addendum tersebut kedua belah pihak menyepakati tentang perubahan biaya pengoperasian, pengamanan, dan pemeliharaan atas ruas tersebut untuk tahun 2012.
Based on the agreement No: 068/KONTRAK-DIR/2010 dated December 30 ,2010, the Company has appointed the implementation of the operation, safe guarding, and maintenance of the JORR and Ulujami-Pondok Aren toll road sections for over 3 years start which be effective since January 1, 2011 until December 31, 2013. On December 29, 2011, the agreement amended with Amendment 1 of Agreement of the Operation, Safe Guarding, and Maintenance of JORR W2, S, El, dan E2+E3 Toll Road section and Ulujami - Pondok Aren toll road section. Based on the amendment both of them agreed the changes of cost of operation, safe guarding and maintenance these sections for 2012.
e. Kerjasama Pengoperasian Jalan Tol dengan PT Citra Marga Nusaphala Persada (CMNP) Perusahaan mengadakan kerjasama dengan CMNP dalam bentuk pengoperasian jalan tol secara terpadu yang dimuat dalam Akta No.42, tanggal 4 Juni 1993 juncto Akta No.386, tanggal 31 Desember 1994. Dalam Keputusan Bersama Menteri Pekerjaan Umum No.272A/KPTS/2996 dan Menteri Keuangan No.434/ KMK.016/2996, tanggal 20 Juni 1996 tentang Pengoperasian Terpadu Jalan Tol Lingkar Dalam Kota Jakarta (Tomang - Cawang Tanjung Priok - Ancol Timur Jembatan Tiga Pluit - Grogol Tomang) serta Penetapan Angka Perbandingan Pembagian Pendapatan Tol dinyatakan bahwa jatan tol lingkar dalam kota dijadikan
e. Toll Road Joint Operation with PT Citra Marga Nusaphala Persada (CMNP) The Company has entered into a joint operation agreement with CMNP in the form of integrated toll road operation as put forth in the Deed No.42 dated June 4, 1993 in conjunction with the Deed No.386 dated December 31, 1994. Based on the Joint Decrees of the Minister of Public Works of the Republic of Indonesia No.272-A/KPTS/2996 and the Minister of Finance No.434/KMK.016/2996 dated June 20, 1996 regarding the integrated operation of the Jakarta Inner Ring Road (Tomang - Cawang - Tanjung Priok - Ancol Timur Jembatan Tiga Pluit - Grogol Tomang) and determination of Toll Revenue Sharing Ratio, the inner
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
sebagai satu kesatuan sistem jaringan jalan tol dalam kota Jakarta yang pengoperasiannya dilakukan secara terpadu dengan bagi pendapatan tol masing-masing sebesar 25% untuk perusahaan dan sebesar 75% untuk CMNP.
city ring road will be operated as one toll road network system with toll road revenue sharing of 25% for the Company and 75% for CMNP.
Berdasarkan Surat Keputusan Menkimpraswil No.JL.01.04-Mn/582, tanggal 7 Nopember 2002, ditetapkan persentase bagi hasil jalan tol dalam kota Jakarta antara CMNP dan Perusahaan sebagai berikut:
Based on the subsequent Decree of the Minister of Housing and Regional Infrastructure No.JL.01.04Mn/582 dated November 7, 2002, the Jakarta Inner Ring Road revenue sharing between CMNP and the Company is set forth as follows:
Persentase Bagi Hasil/ Percentage of Revenue Sharing CMNP
Perusahaan/ The Company
Mulai awal konsesi s/d 9 Mei 2002
75%
25%
Mulai 10 Mei 2002 s/d 31 Desember 2002
65%
35%
From May 10, 2002 to December 31, 2002
Mulai 1 Januari 2003 s/d Akhir Masa Konsesi (Tahun 2025)
55%
45%
From January 1, 2003 to the End of Concession Period (2025)
f. Kerjasama Pengoperasian Jalan Tol dengan PT Bintaro Serpong Damai (BSD) Perusahaan telah mengadakan kerjasama kontrak manajemen dengan BSD sebagai operator jalan tol berdasarkan perjanjian kerjasama pengoperasian dan pemeliharaan jalan tol Pondok Aren - Serpong No.004/SPK-DIR/1998, tanggal 19 Mei 1998. Berdasarkan Putusan Badan Arbitrase Nasional Indonesia No.217/1/ARB-BANI/2006, tanggal 31 Agustus 2006, lingkup pengoperasian Perusahaan sebagai berikut:
f. Toll Road Joint Operation with PT Bintaro Serpong Damai (BSD) The Company has entered into a joint operation agreement with BSD as toll road operator for Pondok Aren - Serpong section based on toll road operation and maintenance agreement No.004/SPK-DIR/1998 dated May 19, 1998. Based on the Decree of the Indonesian Board of Arbitration No.217/1/ARB-BANI/2006 dated August 31, 2006, the scope of operations are as follows:
1. Pengoperasian gerbang tol Pondok Ranji (Pondok Aren Timur). 2. Pelayanan latu lintas dan keamanan pengguna jalan tol, serta pengamanan Aset, dengan catatan yang dilakukan oleh Perusahaan adalah yang menyangkut patroli seperti kendaraan rusak, kecelakaan sesuai lingkup pekerjaan patroli. Mengenai standar jumlah sesuai dengan Standar Pelayanan Minimum (SPM) jalan tol yang dikeluarkan Menteri Pekerjaan Umum.
1. Operation of Pondok Ranji toll gates (Pondok Aren Timur). 2. Providing patrol and safety service for toll road users and safeguarding toll road assets whereby the Company is dealing with toll road users in the patrol area including damaged vehicles and accidents on toll roads on compliance with Standard of Minimum Service for toll roads issued by the Minister of Public Works.
g. Perjanjian Kerjasama Operasi Perusahaan mengadakan perjanjian kerjasama dengan sejumlah investor dalam rangka pembangunan, pembiayaan dan penyelengaraan jalan tol. Secara umum pokok yang diatur dalam perjanjian kerjasama operasi tanpa kuasa penyelenggaraan sebagai berikut:
g. Joint Operation Agreements The Company has entered into joint operation agreement with several investors for the construction, financing, and operation of toll roads. Generally, the key provisions stipulated in such agreements are as follows :
(i) Investor membangun dan mendanai pembangunan jalan tol sesuai dengan desain, spesifikasi dan persyaratan yang telah ditetapkan.
(i) The investor builds and finances toll road projects according to the design, specification, and requirements.
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
(ii) Investor menyerahkan jalan tol tersebut yang telah selesai dibangun kepada Perusahaan untuk dikelola dan dioperasikan. (iii) Perusahaan menanggung seluruh beban dan risiko yang timbul sehubungan dengan pengelolaan dan pengoperasian jalan tol. (iv) Pembayaran kepada investor selama masa kerja operasi dilakukan dengan cara sebagai berikut :
(ii) The investor hands over the completed toll road projects to be managed and operated by the Company. (iii) The Company has responsibility to fake any expenses and risk arising from the management and operations of the toll road. (iv) Payments to the investors during the operations period are arranged under one of the following
1. Bagi hasil pendapatan tol; atau 2. Bagi hasil pendapatan tol dengan jaminan pembayaran minimum; atau 3. Pembayaran secara angsuran dalam jumlah tetap (angsuran pasti), selama masa kerjasama operasi.
1. Toll revenue sharing; or 2. Toll revenue sharing with minimum guaranteed payment; or 3. Fixed installments during the joint operations period.
Rincian proyek kerjasama operasi tanpa kuasa penyelenggaraan pada 31 Desember 2012 sebagai berikut ;
Details of joint operation projects without operating rights as of December 31, 2012 are as follows:
Investor
Proyek Kerjasama Operasi/ Joint Operation Project
Bagi Hasil Pendapatan Tol Pelebaran Ruas Jalan PT Bangun Tjipta Sarana
PT Adhika Prakarsatama Simpang Susun PT Surya Cipta Swadaya
Bagian Pendapatan Tol / Toll Revenue Sharing
Masa Kerjasama Operasi / Joint Operation Period Investors
Toll Revenue Sharing Broaddening of Toll Road Cikampek Cibitung
69%
Cawang Cibitung
41%
Jakarta - Tangerang
27%
Karawang Timur II
4 - 14%
20 Tahun, Sejak 1989 / 26 Years, since 1989 22 Tahun, Sejak 1994 / 22 Years, since 1994 17 Tahun 9 Bulan, sejak 1984/ 17 years 9 Month, since 1994 17 Tahun, sejak 1998 / /7 Years, since 1998
PT Bangun Tjipta Sarana
PT Adhika Prakarsatarna Toll Road interchanges PT Surya Cipta Swadaya
Perjanjian kerjasama operasi yang telah mengalami perubahan dapat diikhtisarkan sebagai berikut:
The joint operations agreements that have been recently amended are summarized below:
1. Perjanjian Kerjasama Operasi dengan PT Bangun Tjipta Sarana PT Bangun Tjipta Sarana tidak dapat menyelesaikan proyek pelebaran ruas Cawang - Cibitung sesuai dengan jadwal yang ditetapkan dan persentase penyelesaian pada saat terhentinya di tahun 1998 sebesar 85,5%. Sementara itu, Perusahaan telah mengoperasikan hasil pelebaran jalan tol tersebut.
1. Joint Operation Agreement with PT Bangun Tjipta Sarana PT Bangun Tjipta Sarana was unable to complete the widening project for the Cawang - Cibitung section according to the agreed upon time schedule, Physical progress completed by the investor up to 1998 was 85,5%. Meanwhile the Company operated the widened toll road.
Pada tanggal 4 September 2002 dibuat Berita Acara Kesepakatan Penerusan dan Revisi Bagi Hasil Pelebaran Jalan Tol Jakarta - Cikampek Ruas Cawang - Cibitung No.032/BA-DIR/2002 yaitu mengenai pengurangan masa konsesi selama 3 tahun dari 25 tahun menjadi 22 tahun.
On September 4, 2002, the Company and STS made an Agreement for Continuation and Revision of Revenue Sharing for Widening the Jakarta-Cikampek Toll Road Cawang-Cibitung Section No.032/BADIR/2002 that reduced the concession period by 3 years from 25 years to 22 years.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
2. Perjanjian Kerjasama Operasi dengan PT Adhika Prakarsatama Berdasarkan perubahan kerjasama operasi pembangunan pelebaran jalan tol Jakarta - Merak No. 8, tanggal 28 Pebruari 2003, telah disepakati pengurangan masa kerjasama operasi yang semula 18 tahun menjadi 17 tahun, 9 bulan.
2. Joint Operation Agreement with PT Adhika Prakarsatama Based on the amendment of the joint operation agreement for the widening of the Jakarta -Merak toll road No. 8, dated February 28, 2003, it has been agreed to reduce of the joint operation period from 18 years to 17 years and 9 months.
3. Perjanjian Kerjasama Operasi dengan PT Surya Cipta Swadaya Tbk PT Surya Cipta Swadaya melakukan pembangunan Modifikasi Simpang Susun Karawang Timur Jalan Tol Jakarta - Cikampek. Bagi Hasil dilakukan apabila PT Surya Cipta Swadaya telah menyelesaikan proyek tersebut dengan Perjanjian Kerjasama yang dibuat tertuang dalam Akta Notaris No.50 Tanggal 13 Juli 1998 oleh Notaris Agus Madjid, SH dengan Addendum I No.171 Tanggal 20 September 1998 dan Addendum ke II No. 1 Tanggal 01 Maret 1998.
3. Joint Operation Agreement with PT Surya Cipta Swadaya Tbk PT Surya Cipta Swadaya Tbk conducted modification of construction on Karawang Timur Interchange of Jakarta - Cikampek toll road. Based on Joint Agreement No,50 dated July 13, 1998 of Notary Agus Madjid, SH, and its Amendment I and II each No.171 dated September 20, 1998 and No. I dated March 1, 1998, profit sharing will be made when PT Surya Cipta Swadaya Tbk has completed the project.
h. Kerjasama Pengusahaan Jalan Tol JORR W2 Utara
h. Concession Cooperations for JORR W2 North Toll Road On April 2, 2007, the Company and PT Jakarta Propertindo signed a preliminary agreement about JORR W2 North toll road concession cooperation plan with the contents, amongst others, including
Pada tanggal 2 April 2007, Perusahaan bersama-sama dengan PT Jakarta Propertindo telah menandatangani Perjanjian Pendahuluan tentang Rencana Kerjasama Pengusahaan Jalan Tol JORR W2 Utara, yang isinya antara lain mencakup hal-hal sebagai berikut : Menyempurnakan business plan proyek; Membentuk perusahaan patungan antara Perusahaan dan PT Jakarta Propertindo (Jakpro); Perusahaan patungan selaku pemegang hak pengoperasian jalan tol JORR W2 Utara akan menunjuk Perusahaan atau entitas anaknya dalam pelaksanaan pengoperasian jalan tol JORR W2 Utara yang akan diatur dalam suatu perjanjian tersendiri,
Completion of project business plan; Creation of a joint venture company between the company and PT Jakarta Propertindo (Jakpro); and The joint venture company as holder of concession rights of JORR W2 North will appoint the company or a subsidiary to operate JORR W2 North toll road under a separate agreement.
Pada Tanggal 24 Agustus 2009 berdiri Perusahaan konsorsium PT Marga Lingkar Jakarta berdasarkan Akta No.26 dari Notaris Edi Priyono, SH dan telah disahkan oleh Menteri Kehakiman Republik Indonesia No. C-98-HT.03.02-Th 2002. Forst Perusahaan dalam penyertaan saham dalam konsorsium tersebut sebesar 65%.
On August 24, 2009 has established Consortium Corporation PT Marga zlingkar Jakarta based on the Deed No.26 by Notary Edi Priyono, SH and which has been approved by Minister of Justice of Republic Indonesia No. C-98-HT.03.02-Th 2002. The Company's portion in this consortium partnership is 65%.
i. Restrukturisasi Utang JORR Perusahaan telah mengambil alih penyelesaian kewajiban pinjaman sindikasi kepada kreditur sebagai konsekuensi dari pengakhiran Perjanjian Kuasa Penyelenggaraan (PKP) dengan PT Marga Nurindo Bhakti (MNB), PT Citra Bhakti Margatama Persada (CBMP), PT Citra Mataram Satriamarga Persada (CMSP) sebagai investor pada pembangunan proyek Jakarta Outer Ring Road (JORR).
i. JORR Debt Restructuring The Company had taken over the settlement of syndicated loan liabilities to the creditors as a consequence of the termination of Joint Operation Agreements with PT Marga Nurindo Bhakti (MNB), PT Citra Bhakti Margatama Persada (CBMP), and PT Citra Mataram Satriamarga Persada (CMSP) as investors in the development of the Jakarta Outer Ring Road (JORR) project.
Estimasi nilai kewajiban yang diambil alih sesuai dengan Surat Keputusan omite Kebijakan Sektor Keuangan
The estimated of liability to be taken over, according to the Decree of the Committee for Financial Sector Policy
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
(KKSK) No.KEP-02/K.KKSK/02/2001, tanggal 5 Pebruari 2001 sebesar Rp 1.070.521.000.000 (Rupiah penuh) dengan rincian sebagai berikut Ruas Jalan Tol dan Investor
Estlmasl Kewajiban/ Estimated Liabilities
No.KEP-02/K.KKSK/02/2001, dated February 15, 2001 was Rp,1,070,521,000,000 (full Rupiah), with details as follows Surat Ketetapan Dasar Estimasi / Letter of Liability Estimation Basis
JORR Sections and Investors
Pondok Pinang - Cikunir (Seksi S dan El) - MNB
721,149,000
No. IJK/5/0257 tanggal 12 Januari 2001 dated January 12, 2000
Pondok Pinang - Cikunir (Section S and E1) - MNB
Cikunir - Tanjung Priok (Seksi E2, E3, N) - CBMP
243,415,000
No. SFN/031/2000 tanggal 11 Januari 2000 dated January 11, 2000
Cikunir - Tanjung Prick (Section E2, E3, N) - CBMP
Kebon Jeruk - Pondok Pinang (Seksi W2) - CMSP
105.957.000 105,957,000
No, 2000.1128/DIRCO - DPI tanggal 1 Nopember 2000/ dated November 1, 2000
Kebon Jeruk - Pondok Pinang (Section W2) - CMSP
Total
1,070,521,000
Total
Berdasarkan Akta No.42 dan 43 tanggal 19 Nopember 2003, dari Notaris Imas Fatimah, SH, dicapai kesepakatan antara Perusahaan, PT Perusahaan Pengelola Aset (Persero) (PPA d/h BPPN), dan para kreditur JORR berkenaan dengan penyelesaian utang yang terkait dengan proyek JORR sebagai berikut:
Based on the Deed No.42 and 43 dated November 19, 2003 of Notary Imas Fatimah, SH, the Company has reached agreements with PT Perusahaan Pengelola Aset (Persero) (PPA, formerly the Indonesian Banking Restructuring Agency, or IBRA), and other JORR creditors regarding the final settlement of JORR debt obligation as follows :
1. Utang kepada PPA (d/h BPPN) dan para kreditur JORR lainnya senilai Rp 1.070.521.000.000 (Rupiah penuh) tidak jadi dikonversi menjadi ekuitas di JLJ melainkan akan diselesaikan oleh Perusahaan;
1. JORR debt obligations to PPA (formerly IBRA) and other JORR creditors amounting to Rp 1,070,521,000,000 (full Rupiah) will be settled by the Company instead of being converted into equity in JLJ; 2. Part of debt obligations associated with JORR Section excluding Section S, amounting to Rp 548,521,000,000 (full Rupiah), will be settled by cash payment of Rp 274,260,500,000 (full Rupiah) and the remaining balance of Rp 274,260,500,000 (full Rupiah) will be settled by the issuance of JORR I Bond year 2003 series to PPA (formerly IBRA) and the other JORR creditors; and 3. The remaining JORR debt obligations associated with Section 5, amounting to Rp 522,000,000,000 (full Rupiah), will be settled by the Company after the execution of the Supreme Court Verdict validating the Company's concession rights for Section S.
2. Utang yang berhubungan dengan JORR Seksi non S sebesar Rp 548.521.000.000 (Rupiah penuh) diselesaikan dengan pembayaran tunai sebesar Rp 274.260.500.000 (Rupiah penuh) dan sisanya dengan penerbitan obligasi JORR I Tahun 2003 sebesar Rp 274.260.500.000 (Rupiah penuh) kepada PPA (d/h BPPN) dan para kreditur JORR; dan 3. Sisa utang JORR sebesar Rp 522.000.000.000 (Rupiah penuh) yang berhubungan dengan Seksi S akan diselesaikan Perusahaan setelah terdapat pelaksanaan eksekusi atas Putusan Mahkamah Agung. Memperhatikan Putusan Mahkamah Agung No. 720 K/Pid/2001, tanggal 11 Oktober 2001, Surat Perintah Pelaksanaan Putusan dari Kejaksaan Negeri Jakarta Pusat No.154/01.10/FU.1/10/2003 tanggal 14 Oktober 2003 dan Berita Acara Pelaksanaan Putusan Perampasan Barang Bukti, tanggal 7 April 2004, Menteri dalam Surat Keputusan Pekerjaan Umum No.276/KPTS/M/2005, tanggal 9 Juni 2005 tentang Perubahan Wewenang Penyelenggaraan Jalan Tol d1/March 24, 2013
By reference to the Decree of the Supreme Court No.720 K/Pid/2001 dated October 11, 2001, Instruction Letter of Execution the Decree from District Attorney of Central Jakarta No.154/01.10/FU.1/10/2003 dated October 14, 2003 Minutes of Execution of the Confiscation of Evidence dated April 7, 2004, and Minister of Public Works on Decision Letter No.276/KPTS/M/2005, dated June 9, 2005, regarding to the change of authority of the operator of JORR Pondok 96
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Lingkar Luar Jakarta Seksi Pondok Pinang - Jagorawi (JORR S) kepada Perusahaan, telah memutuskan antara lain :
Pinang - Jagorawi Section (JORR Section "S") to the Company, it has been decided as follows :
1. Mengubah wewenang penyelenggaraan Jalan Tol Lingkar Luar Jakarta Seksi Pondok Pinang - Jagorawi (JORR S) kepada PT Jasa Marga (Persero) Tbk. untuk melunasi kredit dari Kreditur Sindikasi; dan 2. Dana sebesar Rp 50.431.647.999 (Rupiah penuh) dalam Escrow Account yang tidak ada kaitan dan relevansi yang dapat dipertanggungjawabkan dengan tegas dan jelas terhadap JORR S untuk sementara tidak diperhitungkan dalam pembayaran utang sampai adanya klarifikasi berdasarkan penelitian lebih lanjut oleh Badan Pengawasan Keuangan dan Pembangunan. 3. Setelah seluruh kredit dari Kreditur Sindikasi untuk pembangunan JORR S dilunasi, Pemerintah akan menentukan kemudian pengelolaan JORR S sesuai dengan keputusan Mahkamah Agung RI.
1. To change the authority of the operator of JORR Pondok Pinang - Jagorawi Section (JORR Section "S") to the Company in order to settle the credits from the syndicated loans; and 2. The funds of Rp 50,431,647,999 (full Rupiah) in the escrow account which were not related to and relevant to the project accountability were temporarily not included for debt repayment until there is a clarification based on further investigation by the Development and Finance Supervisory Board.
Berdasarkan Surat Keputusan Menteri Pekerjaan Umum No. 276/KPTS/M/2005 dan Perjanjian Penyelesaian Hutang (PPH) JORR S tanggal 29 Desember 2005, Perusahaan mencatat aset tetap hak pengusahaan jalan tol dan kewajiban karena pemberian hak pengusahaan jalan tol masing-masing sebesar Rp 522.000.000.000 (Rupiah penuh). Perusahaan telah melunasi kewajiban Utang JORR Seksi S sebesar Rp 522.000.000.000 (Rupiah penuh) dengan pembayaran tunai sebesar Rp 261.000.000.000 (Rupiah penuh) pada tanggal 3 Januari 2006 dan sisanya diselesaikan melalui penerbitan obligasi JORR II Tahun 2005 pada tanggal 5 Januari 2006.
Based on Decree of Minister of Public Works No. 276/KPTS/M/2005 and the Debt Settlement Agreement for JORR S dated December 29, 2005, the Company registers its fixed assets of right to development of toll roads and obligation from handing over right to development of toll roads each in the amount of Rp 522,000,000,000. The Company has settled the JORR Section S debt obligations in the amount of Rp 522,000,000,000 by paying in cash an amount of Rp 261,000,000,000 on January 3, 2006 and the remaining balance through the issuance of JORR II Year 2005 bonds on January 5, 2006.
Di dalam surat dari Badan Pengelolaan Jalan Tol (BPJT) No. 845/BPJT/KE/PW.10.01/2009 tanggal 15 Oktober 2009 dan No. 993/BPJT/KU.09.03/2009 tanggal 15 Desember 2009 disebutkan bahwa wewenang penyelenggaraan jalan tol JORR Seksi S diberikan kepada Perusahaan sampai dengan tercapainya pelunasan Utang dari Kreditur Sindikasi. Sehingga, perlu dilakukan penunjukan pihak independen untuk melakukan analisa/kajian terhadap pendapatan tol, beban serta arus kas JORR Seksi S dalam kaitannya dengan proyeksi pelunasan utang tersebut.
In the letters from Indonesian Toll Road Authority (BPJT) No. 845/BPJT/KE/PW.10.01/2009 dated October 15, 2009 and No. 993/BPJT/KU.09.03/2009 dated December 15, 2009, it was stated that the authority of developing JORR Toll Road Section S is handed over to Company until debt obligations towards the Syndicated Crediturs have been fully settled. As such, an independent body must be selected to perform an analysis/review of the toll revenues, liabilities, as well as the cash flow of JORR Section S in relation to the projected settlement of of such debt.
Perusahaan telah mengirimkan surat kepada BPJT pada bulan September 2011, mengenai hasil analisa/kajian pihak independen tersebut. Perusahaan pada tanggal 23 Januari 2013 mendapatkan surat dari Sekretaris Jenderal Pekerjaan Umum (PU) perihal pemisahaan pendapatan tol JORR S dari pendapatan JORR, dan perusahaan telah melakukannya.
The company has sent letters to BPJT in September 2011, the results of analysis / assessment independent parties. On January 23, 2013, the Company to get a letter from the Secretary-General of Public Works (PU) with respect to separation of toll revenue from income JORR S, and the Company has separated its.
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3. After the syndicated loans for construction of JORR S are fully repaid, the Government will decide the authority upon JORR S in accordance to the Decree of the Supreme Court of the Republic of Indonesia.
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
j. Perjanjian Pengoperasian Jalan Tol Jembatan Surabaya - Madura (Suramadu) Sesuai Surat Keputusan Menteri Pekerjaan Umum No.KU.03.01-Mn/315, tanggal 29 Mei 2009, Perihal Penetapan Lelang Pengoperasian Jalan Tol Surabaya Madura (Suramadu) ditetapkan untuk melaksanakan Pengoperasian dan Pemeliharaan Jalan Tol Jembatan Suramadu dengan masa Pengoperasian dan Pemeliharaan adalah 18 bulan terhitung sejak tanggal 10 Juni 2009.
j. Agreement Toll Road Operation of Surabaya - Madura (Suramadu) Bridge Based on Decree of Minister of Public Works No.KU.03.01-Mn/315, dated May 29, 2009, about The Auction of Toll Road Operation of Surabaya - Madura (Suramadu) Bridge for Operation and maintenance Suramadu Bridge Toll Road during Operation and Maintenance for 18 months since June 10, 2009.
Berdasarkan Surat Keputusan Menteri Pekerjaan Umum No.391/KPTS/M/2009, tanggal 4 Juni 2009, tentang Penugasan Kepada Kepala Badan Pengatur Jalan Tol untuk menandatangani Perjanjian Pengusahaan Jalan Tol, maka Perusahaan telah menandatangani Surat Perintah Mulai Kerja No. 446/BPJT/SPMK/KE/2009 dengan Nurdin Manurung sebagai Kepala Badan Pengatur Jalan Tol atas nama Menteri Pekerjaan Umum.
Based on Decree of Minister of Public Works No. 391/KPTS/M/2009, dated June 4, 2009, about The Assignment for Head of To// Road Coordination to sign the concession toll road, the company signed Instruction Letter Work Beginning No.446/BPJT/SPMK/KE/2009 with Mr. Nurdin Manurung as Head of Toll Road Coordination in the name of Minister of Public Works.
k. PT Kresna Kusuma Dyandra Marga (KKDM) PT Kresna Kusuma Dyandra Marga (KKDM) didirikan berdasarkan Akta No.94, tanggal 20 Desember 1996 dari Notaris Mudofir Hadi, SH. Penyertaan pada KKDM dilakukan sehubungan dengan penyelenggaraan proyek jalan tol Bekasi Timur – Cawang - Kampung Melayu yang meliputi pembangunan, pengoperasian, dan pemeliharaan jalan tol. Perusahaan memiliki 7.650.000 saham dengan nilai nominal Rp 1.000 (Rupiah penuh) per saham atau setara dengan Rp 7.650.000.000 (Rupiah penuh) yang merupakan 10% kepemilikan Perusahaan. Sampai dengan tanggal laporan ini, Perusahaan belum melakukan penyetoran saham tersebut.
k. PT Kresna Kusuma Dyandra Marga (KKDM) PT Kresna Kusuma Dyandra Marga (KKDM) was established based on the Deed No.94, dated December 20, 1996 of Notary Mudofir Hadi, SH. The investment in KKDM relates to the operation of the Bekasi Timur Cawang - Kampung Melayu toll road project including the construction, operation, maintenance of the toll road. The Company owns 7,650,000 shares with a par value of Rp 1,000 (full Rupiah) per share or equivalent to Rp 7,650,000,000 (full Rupiah), representing 10% ownership of KKDM. Up to the date of this report, the subscriptions of shares have not been paid by the Company.
Pada tanggal 29 Desember 2006, melalui Surat Perusahaan No.AA.KU05.2002 kepada Meneg BUMN mengenai permohonan persetujuan pelepasan penyertaan saham Perusahaan di KKDM dan telah memperoleh persetujuan pelepasan saham KKDM dari Meneg BUMN melalui Surat No.S-175/MBU/2007, tanggal 29 Maret 2007. Sampai dengan tanggal laporan ini, Perusahaan betum melakukan pelepasan saham tersebut.
On December 29, 2006, through Letter of the Company No.AA.KU05.2002 to the Minister of State-Owned Enterprises the Company requested approval for disposal of the Company's investment in KKDM. The Company obtained approval for the share disposal from the Minister of State Owned Enterprises through Letter No.S-175/MBU/2007 dated March 29, 2007. Until the date of this report, the Company has not yet disposed the shares.
48. Kontinjensi
48. Contingencies
a. Kewajiban Karena Pengakhiran Perjanjian Kuasa Penyelenggaraan Perusahaan melakukan kerjasama operasi dengan PT Citra Ganesha Marga Nusantara (CGMN) untuk pembangunan Jalan Tol Cikampek - Padalarang pada tahun 1994, sebagaimana tertuang dalam Perjanjian Kuasa Penyelenggaraan (PKP) No.297 tanggal 21 Desember 1994. Namun demikian, pada 18 Juli 2001 Menkimpraswil dengan Surat Keputusan No.417 d1/March 24, 2013
a. Obligation Due Termination of Concession Agreemc The Company entered into a joint operation in 1994 with PT Citra Ganesha Marga Nusantara (CGMN) for construction of the Cikampek - Padalarang Toll Road as set forth in the Concession Agreement No.297 dated December 21, 1994. However, on July 18, 2001, the Minister of Housing and Regional Infrastructure with the Letter No.417 revoked the decision granting permission 98
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mencabut keputusan pemberian izin Kerjasama Penyelenggaraan Jalan Tol antara Perusahaan dengan CGMN. Pada 25 Juli 2001, Perusahaan mengakhiri PKP dengan CGMN.
of Toll Road Joint Operation license between the Company and CGMN. For that reason, on July 25, 2001, the Company terminated the Concession Agreement with CGMN.
Perjanjian Kuasa Penyelengaraan (PKP) No.297 tanggal 21 Desember 1994 menyebutkan bahwa bila terjadi pengakhiran masa penyelenggaraan jalan tol lebih awal sebelum masa konsesi berakhir, maka Perusahaan berkewajiban untuk mengambil-alih seluruh utang dan harus memenuhi hak Penanam Modal (CGMN). Dalam pasal 14.1 PKP disebutkan bahwa Perusahaan harus membayar sejumlah uang atas nilai buku jalan tol setelah dikurangi nilai kewajiban yang harus diambil-alih Perusahaan.
The Concession Agreement No.297 dated December 21, 1994 states that if there is termination of concession agreement before the concession period is due, the Company has an obligation to take over the overall liabilities and should fulfill the rights of shareholders (CGMN). Article 14.1 of the Concession Agreement states that the Company should pay some amount over the book value of the toll road after deducting amount of liabilities taken over by the Company.
Perusahaan telah menerima bahwa estimasi kewajiban dan nilai aset akibat pengakhiran PKP dengan CGMN sebesar Rp. 202.454.407.000 yang merupakan nilai buku yang telah diaudit atas aset dalam penyelesaian pada tanggal 31 Desember 1999. Perusahaan masih terus mengupayakan penyelesaian Penetapan secara definitif atas jumlah kewajiban.
Company has accepted that the estimation of liabilities and assets value as a result of termination of PKP with CGMN is in the amount of IDR 202,454,407,000, which constitutes the book value that has been audited on the settlement assets on December 31, 1999. The Company is still on the process on determining the definitive value of liabilities.
Perusahaan telah membentuk tim untuk mengkaji penyelesaian permasalahan akibat pengakhiran PKP Jalan Tol Cikampek - Padalarang antara Perusahaan dan CGMN.
Company has formed a team to analyze the dispute settlement that has arisen from the termination of the Cikampek-Padalarang Toll Road PKP between the Company and CGMN.
b. Tuntutan Ganti Rugi Kepada PT Lapindo Brantas dan Penutupan Sebagian Jalan Tol Surabaya-Gempol Seksi Porong-Gempol. Sebagai dampak dari bencana luapan Lumpur PT Lapindo Brantas yang mengakibatkan kerusakan pada sebagian jalan to Surabaya - Gempol, Perusahaan telah mengirimkan beberapa surat permintaan ganti rugi dan somasi di tahun 2006 atas kehilangan pendapatan tol dan pengeluaran berbagai biaya kepada PT Lapindo Brantas. Klaim kerusakan jalan tol tersebut akan meningkat menjadi klaim biaya relokasi ruas jalan tol Porong - Gempol, yang akan diselesaikan sesuai dengan ketentuan dalam Perjanjian Pengusahaan Jalan Tol Surabaya - Gempol dan kebijakan Pemerintah dalam penyelesaian dampak semburan Lumpur di Sidoarjo, sesuai dengan Keputusan Menteri Pekerjaan Umum No.394/KPTS/M/2006, tanggal 30 Nopember 2006 tentang Penutupan sebagian Jalan Tol Surabaya Gempol.
b. Claim of Compensation Againts PT Lapindo Brantas and Closing of Part of the Surabaya Gempol Toll Road Section Porong - Gempol As a consequence of the mud flood disaster of PT Lapindo Brantas that has damaged part of the Surabaya - Gempol roll road, in 2006 the Company has submitted several claims of compensation to PT Lapindo Brantas covering loss of toll revenues and expenditures. The claim for damage to the toll roads is expected to increase and later include a claim for cost to relocated the Porong - Gempol Section toll road, and will be settled in connection with the stipulation on the Concession Agreement of the Surabaya - Gempol toll road and the Government policy in settlement of the effects of the mud flood disaster at Sidoarjo in accordance with the Decree of the Minister of Public Works No.394/KPTS/M/2006 dated November 30, 2006 regarding the Closure of Part of the Surabaya -Gempol Toll Road.
Berdasarkan Keputusan Presiden No.13 Tahun 2006, tanggal 3 September 2006 mengenai Tim Nasional Penanggulangan Semburan Lumpur di Sidoarjo, semua biaya yang timbul sebagai akibat relokasi pembangunan jalan tol dimaksud selain biaya rehabilitasi kerusakan sarana menjadi tanggung jawab PT Lapindo Brantas. Selain itu, Surat Keputusan Menteri Pekerjaan Umum No.394/KPTS/M/2006, tanggal 30 Nopember 2006,
Based on the Decree of President No.13 Year 2006 dated September 3, 2006 regarding the National Team for Mud Floods Disaster at Sidoarjo, all expenditures incurred due to the relocation of toll road development exept for rehabilitation expenses for demaged facilites will become the responsibility of PT Lapindo Brantas. In addition, the Decree of Minister of Public Works No.394/KPTS/M/2006 dated November 30, 2006 related
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Annual Report 2012
Constructing towards the Future
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
mengenai Penutupan sebagian Jalan Tol Surabaya Gempol Seksi Porong Gempol, menyatakan antara lain sebagai berikut :
to the Closure of Part of the Surabaya - Gempol Toll Road Porong - Gempol Section Provides :
1. Menutup
dan tidak mengoperasikan kembali sebagian jalan tol Surabaya - Gempol Seksi Porong Gempol; dan 2. Segala hal yang timbul pada pengusahaan jalan tol Surabaya - Gempol sebagai akibat dari penutupan seksi Porong Gempol akan diselesaikan sesuai dengan ketentuan dalam Perjanjian Pengusahaan Jalan Tol (PPJT) Surabaya - Gempol dan kebijakan pemerintah dalam penyelesaian dampak semburan lumpur di Sidoarjo.
1. To close and don't operate again part of the
Berdasarkan Surat Menteri Pekerjaan Umum No.JL. 0103-Mn/131, tanggal 30 Maret 2007, dalam rangka relokasi jalan tol seksi Porong Gempol, kebutuhan tanah untuk relokasi infrastruktur akan disediakan oleh Pemerintah dan pelaksana konstruksi.
Based on the Minister of Public Works Letter No.JL.0103-Mn/131, dated March 30, 2007, in order to relocated the Porong - Gempol toll road section, the land requirements for relocation of the infrastructure will be provided by the Government and contractors.
Berdasarkan Surat Menteri Negara Badan Usaha Milik Negara No.S-196/MBU/2007, tanggal 4 April 2007 kepada Menteri Pekerjaan Umum dan Menteri Keuangan, sehubungan dengan kerugian atas hilangnya sebagian aset jalan tol Porong - Gempol, maka sejalan dengan Undang-undang Jalan No.38 Tahun 2004 dan Undang-undang Keuangan Negara No.17 Tahun 2003, klaim atas kerugian dimaksud seyogyanya dilakukan oleh Pemerintah melalui Departemen Pekerjaan Umum kepada PT Lapindo Brantas.
Based on the Minister of State-Owned Enterprises Letter No.S-196/MBU/2007 dated April 4, 2007 regarding the loss of part of Porong - Gempol toll road assets and according to the Road Law No.38 of 2004 and the State Finance Law No.17 of 2003, the claim for losses should be submitted by the Government through the Departement of Public Works to PT Lapindo Brantas.
Pada tanggal 17 Juli 2007, melalui Surat Perusahaan No. AA.TN.02.1153, Perusahaan mengajukan tuntutan ganti rugi akibat genangan lumpur pada ruas Porong Gempol kepada PT Lapindo Brantas. Klaim atas kerugian kehilangan pendapatan tol dan biaya tambahan lainnya akibat genangan lumpur pada ruas Porong Gempol sampai dengan bulan Mei 2007 adalah sebesar Rp 24.724.788.651 (Rupiah penuh) dan klaim atas kerusakan jalan tol sebesar Rp 16.334.396.000 (Rupiah penuh).
On July 17, 2007, through the Company's Letter No.AA.TN.02.1153, the Company claim compensation caused by mud floods in Porong Gempol Section to PT Lapindo Brantas. The claim for loss of toll revenue and addition expenditures arising from hot mud in Porong - Gempol Section until May amounts to Rp 24,724,788,651 (full Rupiah) and the claim for damage to the toll road amountd to Rp 16,334,396,000 (full Rupiah).
Dalam Surat Perusahaan No.AA.KU.02.1268, tanggal 7 Agustus 2007 kepada Menteri Pekerjaan Umum, Perusahaan menyampaikan antara lain mengenai kesediaan Perusahaan untuk membiayai pembangunan relokasi jalan tol Porong-Gempol dengan memperhitungkan pengembalian investasi dari tarif baru (termasuk pengembalian akibat tidak berfungsinya ruas jalan tol Porong-Gempol).
Based on the Company's Letter No.AA.KU.02.1268, dated August 7, 2007 to the Minister of Public Works, the Company delivered such of readiness to finance development for relocation Porong - Gempol toll road by estimate the reversion of investment from new tariff (included reversion caused by un-function Porong Gempol toll road section).
Surat Ketua Dewan Pengarah Badan Penanggulangan Lumpur Sidoarjo/ Menteri Pekerjaan Umum No.20/DPBPLS/2007, tanggal 24 September 2007 kepada Menteri Negara BUMN, menyebutkan antara lain mengenai usulan pelaksanaan konstruksi jalan tol Porong-Gempol dapat dilakukan oleh Perusahaan.
Letter of the Chairman of Direction Board of Mud Prevention Agency Sidoarjo/ the Minister of Public Works No.20/DP-BPLS/2007, dated September 24, 2007 to Minister of State-Owned Enterprises, Mentioned such of proposal construction implementation of Porong Gempol toll road can be performed by the Company.
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Surabaya - Gempol toll road Porong Gempol Section; and 2. Those all matter which impact on the operation of the Surabaya - Gempol toll road as a result of the closure of the Porong Gempol Section will be handled according to the regulation of Surabaya Gempol Toll Road Concession Agreement and the Government policy for settlement of the effect of the nud food disaster at Sidoarjo.
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
Pada tanggal 14 Januari 2008, melalui Surat Perusahaan No.AA.TN.02.50 kepada Menteri Negara BUMN, Perusahaan menyampaikan antara lain mengenai jumlah klaim total kerugian sampai dengan bulan Mei 2007 sebesar Rp 24.724.788,651 (Rupiah penuh), dan permohonan bantuan agar Pemerintah memfasilitasi melalui Biro Hukum dan Humas Kementerian BUMN dalam menyelesaikan permasalahan dengan PT Lapindo Brantas dengan musyawarah mufakat, dan apabila musyawarah mufakat tersebut tidak dapat ditempuh dapat mempertimbangkan untuk melakukan upaya hukum di Pengadilan.
On January 14, 2008, through the Company's Letter No.AATN.02.50 to the Minister of State-Owned Enterprises, the Company reported loss until May 2007 amounting to Rp 24,724,788,651 (full Rupiah), and requesting assistance from the Government to facilitate through Law Bureau and Public Relation of the Minister of State-Owned Enterprises in solving the problem with PT Lapindo Brantas by deliberation. Otherwise, the Company will take the case to the court.
Pada tanggal 13 Mei 2009, melalui Surat Perusahaan No.AA.TN.02.730 kepada Direktur Utama PT Lapindo Brantas, Perusahaan kembali mengajukan tuntutan ganti rugi akibat penutupan Ruas Jalan Tol Porong - Gempol. Adapun klaim atas kehilangan pendapatan tol dan kehilangan keuntungan atas bunga sampai dengan periode Maret 2009, beserta biaya-biaya lainnya, termasuk biaya pembongkaran Jembatan Tol Porong adalah sebesar Rp 71.976.187.741 (Rupiah penuh).
On May 13, 2009 through Letter No.AA.TN.02.730 to the President Director of PT Lapindo Brantas, the Company claimed compensation due to closure of the PorongGempol Toll Road Section. The claim for loss of toll revenue, loss of interest income, and other expenses, including demolishing cost of Porong Toll Bridge until March 2009 totaling Rp 71,976,187,741 (full Rupiah).
Pada tanggal 17 September 2009, melalui surat Perusahaan No.AA.TN.02.1286 kepada Direktur Utama PT Lapindo Brantas, Perusahaan kembali mengajukan tambahan kenaikan besaran rugi atas kehilangan pendapatan tol sebesar Rp 76.942.149.750 (Rupiah penuh), dan kehilangan keuntungan atas bunga sampai dengan periode Juni 2009 yakni sebesar Rp 4.965.962.009 (Rupiah penuh).
On September 17, 2009 through Letter No.AA.TN.02.1286 to the President Director of PT Lapindo Brantas, the Company claimed additional compensation for the loss of toll revenue amounting to Rp 76,942,149,750 (full Rupiah), and the loss of interest income until June 2009 amounting to Rp 4,965,962,009 (full Rupiah).
Pada tanggal 9 Februari 2010, Perusahaan mengirimkan surat No.AA.PR.02.94 tentang Relokasi Jalan Tol Ruas Porong-Gempol kepada BPJT yang ditembuskan kepada Menteri Negara BUMN, Surat tersebut dibuat dengan dasar bahwa pemerintah (Kementerian PU) mempunyai rencana untuk melakukan relokasi terhadap jalan tol Ruas Porong - Gempol yang terendam luapan lumpur Sidoarjo.
On February 9, 2010, the Company sent Letter No.AA.PR.02.94 to BPJT, which copy forwarded to Minister of State-Owned Enterprises. The letter was made based on plan by government (Department of Public Works) to relocate Porong - Gempol Toll Road affected by the mud puddle.
c. Gugatan Ganti Rugi dari Pemilik Tanah untuk Jalan Perusahaan masih menghadapi perkara litigasi/ gugatan dari beberapa pemilik tanah yang tanahnya digunakan untuk pembangunan Ruas Jalan Tol JORR Pondok Ranji, JORR W2, JORR E1, Cengkareng, JORR W2 Utara, Jakarta-Cikampek Km 9, Serpong - Jakarta, Pondok Aren-Ulujami, Cipularang Tahap II; Gerbang Tol Mabar; dan Kantor Cabang Belmera. Penanganan perkara litigasi tersebut masih dalam proses peradilan di Pengadilan Negeri, Pengadilan Tinggi, dan kasasi di Mahkamah Agung.
c. Claims from Land Owners fo Toll Road The Company is still facing claims from several land owners whose land were used for Toll Road Section JORR Pondok Ranji, JORR W2, JORR E1, Cengkareng, JORR W2 Utara, Jakarta-Cikampek Km 9, Serpong Jakarta, Pondok Aren-Ulujami, Cipularang Phase II; Mabar Toll Gate; and Belmera Branch Office. These claims are still processed in the District Courts, the High Courts, and the Supreme Court.
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Annual Report 2012
Constructing towards the Future
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Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
d. Gugatan Bagi Hasil Pendapatan Tol untuk Pelebaran Jalan Tol Jakarta-Cikampek Ruas Cawang-Cibitung kepada Bangun Tjipta Sarana (BTS) Perusahaan melakukan kerjasama operasi dengan BTS untuk proyek pelebaran Jalan Tol Jakarta Cikampek Ruas Cawang - Cibitung dan Cikampek – Cibitung.
d. Consession Agreements Have Not Been Transferred to Indonesia Toll Road Authority (ITRA)
Saat ini Perusahaan sedang berperkara dengan BTS atas Proyek Pelebaran Ruas Cikampek - Cibitung. Perkara tersebut masih proses di Mahkamah Agung RI dimana Perusahaan telah menyerahkan Memori Kasasi kepada Ketua Mahkamah Agung RI melalui Pengadilan Negeri Jakarta Pusat pada tanggal 19 September 2011.
Currently, the Company and BTS are litigant on the Widening Project of Cikampek - Cibitung Section. This Litigation is under the investigation of the Supreme Court of which the Company has submitted a memorandum of appeal through Central Jakarta District Court on September 19, 2011.
e. Gugatan Perpanjangan Bagi Hasil Pendapatan Tol untuk Pelebaran Kebon Jeruk-Tangerang dari PT Tirtobumi Prakarsatama Berdasarkan amandemen kerjasama bagi hasil pembangunan pelebaran jalan tol Jakarta-Merak No. 8 tanggal 28 Pebruari 2003, Perusahaan dan PT Adhika Prakarsatama telah menyepakati pengurangan masa kerjasama bagi hasil yang semula 18 tahun menjadi 17 tahun, 9 bulan dan berakhir pada 29 Pebruari 2012.
e. Claim of Toll Revenue Sharing Against PT Tirtobumi Prakarsatama for Widening Kebon Jeruk – Tangerang Highway Based on the amendment regarding revenue sharing agreement of Jakarta-Merak toll road extension No. 8 dated February 28, 2003, the Company and PT Adhika Prakarsatama agreed to reduce the period of agreement from 18 years to 17 years and 9 months ended on February 29, 2012.
Pada tanggal 4 Januari 2011 dan 2 Pebruari 2011 PT Tirtobumi Prakarsatama sebagai pemegang saham mayoritas PT Adhika Prakarsatama menyampaikan permohonan kepada Perusahaan untuk melakukan pengkajian perpanjangan masa kerjasama bagi hasil dan meminta Perusahaan meneruskan hal tersebut kepada Menteri Pekerjaan Umum. Alasan permohonan perpanjangan adalah karena PT Tirtobumi Prakarsatama berpendapat tidak ada kenaikan tarif tol dari tahun 1993 sampai dengan 2005. Masa perpanjangan kerjasama bagi hasil yang diajukan sekitar 24 tahun 2 bulan. Perusahaan telah menjawab permohonan tersebut dengan surat No. EC.HK.02.082 pada tanggal 9 Pebruari 2011 yang menyatakan bahwa pengkajian yang dimaksud masih berjalan.
On January 4, 2011 and February 2, 2011 PT Tirtobumi Prakarsatama as the majority shareholder of PT Adhika Prakarsatama submitted request to the Company to review the extension periods of revenue sharing agreement and urged the Company to forward the proposal to the Minister of Public Works. The reason of this proposal was due to PT Tirtobumi Prakarsatama claimed that there has never been toll rates increase which during the year 1993 to 2005. The extension periods proposed by PT Tirtobumi Prakarsatama was approximately 24 years 2 months. The Company responded the request with the letter No. EC.HK.02.082 dated February 9, 2011 stated that the review was in progress.
Pada tanggal 7 Juni 2011 PT Tirtobumi Prakarsatama mengajukan gugatan di BANI (Badan Arbitrase Nasional Indonesia) dengan tuntutan sebagai berikut:
On June 7, 2011 PT Tirtobumi Prakarsatama sued the Company in the National Arbitration Board (BANI) with the following terms:
Mengabulkan permohonan PT Tirtobumi Prakarsatama untuk seluruhnya. Menyatakan PT Jasa Marga tidak berhak dan/atau berwenang untuk melakukan kajian dan/atau mengambil pertimbangan apapun terkait permohonan perpanjangan masa kerjasama bagi hasil yang diajukan oleh PT Tirtobumi Prakarsatama melalui PT Jasa Marga kepada pihak yang berwenang. Kelalaian PT Jasa Marga untuk meneruskan permohonan perpanjangan masa kerjasama bagi
1. Accept the proposal for PT Tirtobumi Prakarsatama entirely. 2. Declare that PT Jasa Marga is has no right and / or authorized to conduct the review and/or take any considerations related to the proposal of extension periods of revenue sharing agreement that proposed by PT Tirtobumi Prakarsatama through PT Jasa Marga to the Authorities.
1. 2.
3.
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The Company has entered into a joint operation agreement with BTS for project of widening JakartaCikampek Highways Cawang - Cibitung and Cikampek Cibitung Sections.
3. Omissions of PT Jasa Marga to forward the proposal to the Authorities may create damage for 102
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
4.
5.
hasil kepada pihak yang berwenang dapat menimbulkan kerugian bagi PT Tirtobumi Prakarsatama. Memerintahkan PT Jasa Marga untuk dengan segera meneruskan permohonan PT Tirtobumi Prakarsatama tersebut di atas kepada pihak yang berwenang. Menghukum PT Jasa Marga untuk mengganti segala kerugian yang mungkin timbul sebagai akibat kelalaian tersebut di atas serta membayar seluruh biaya proses arbitrase ini, termasuk mengganti biaya-biaya yang telah dan akan dikeluarkan oleh PT Tirtobumi Prakarsatama.
PT Tirtobumi Prakarsatama. 4. Instruct PT Jasa Marga to immediately forward the proposal of PT Tirtobumi Prakarsatama to the Authorities. 5. Punish PT Jasa Marga to replace any losses that might arise as a result of that omissions and pay all any costs that arise from the arbitrase process, including replace that costs that have been and will be issued by PT Tirtobumi Prakarsatama.
BANI menerbitkan keputusan No. 406/VI/ARBBANI/2011 pada tanggal 5 Januari 2012 dengan uraian sebagai berikut:
BANI declared the verdict No. 406/VI/ARB-BANI/2011 on January 5, 2012 with the following terms:
permohonan PT Tirtobumi 1. Mengabulkan Prakarsatama untuk sebagian. 2. Mewajibkan PT Jasa Marga untuk menyampaikan dan mendiskusikan kajian mengenai perpanjangan kerjasama bagi hasil kepada PT Tirtobumi Prakarsatama dalam jangka waktu 30 hari sejak tanggal Putusan. 3. Mewajibkan Perusahaan dalam Jangka waktu 40 hari sejak Putusan diterbitkan, untuk meneruskan permohonan PT Tirtobumi Prakarsatama disertai hasil Kajian Perusahaan kepada Menteri Pekerjaan Umum. 4. Mewajibkan Jasa Marga untuk mengembalikan setengah biaya administrasi sebesar Rp 255.000.000 kepada PT Tirtobumi Prakarsatama. 5. Menolak permohonan PT Tirtobumi Prakarsatama untuk selebihnya.
1. Consent the claim partially. 2. Oblige the Company to discuss the review with PT Tirtobumi Prakarsatama within 30 days from the date this decision pronounced. 3. Oblige the Company to forward the request of PT Tirtobumi Prakarsatama along with the result of the review to the Minister of Public Works within 40 days from the date this decision pronounced. 4. Oblige the Company to indemnify half of the administration fee amounting to Rp 255,000,000 to PT Tirtobumi Prakarsatama. 5. Reject the another part of the claim
Pada tanggal 27 Pebruari 2012 Perusahaan telah melaksanakan keputusan BANI tersebut dengan mengirimkan hasil kajian dan permohonan perpanjangan kerjasama bagi hasil kepada Menteri Pekerjaan Umum.
On February 27, 2012, the Company has conducted BANI's Verdicts by forwarding the review and the proposal of extension periods of revenue sharing agreement to the Minister of Public Works.
Terdapat perbedaan persepsi terhadap Putusan BANI: PT Tirtobumi Prakarsatama berpendapat bahwa hasil Putusan tersebut seharusnya dipenuhi setelah Putusan diterbitkan, sedangkan Perusahaan meyakini bahwa berdasarkan Hukum Arbitrase Pasal 59, seharusnya Putusan BANI dilaksanakan setelah Putusan didaftarkan ke Pengadilan Negeri.
There was different perception on BANI’s verdicts: PT Tirtobumi Prakarsatama believed that the verdicts should be executed after the verdicts declared, whereas the Company believed that based on Law of Arbitration Article 59, the verdicts should be executed after they were registered at District Court.
Berdasarkan perbedaan persepsi di atas, PT Tirtobumi Prakarsatama menuntut Perusahaan di Pengadilan Negeri Jakarta Timur dengan alasan Perusahaan tidak melaksanakan putusan BANI. Perkara ini telah diputuskan berdasarkan Putusan No. 64/PDT.G/2012/PN.JKT.TIM pada tanggal 10 Desember 2012 yang menyatakan bahwa Perusahaan harus mengganti rugi kepada PT Tirtobumi
Based on the different perception stated above, PT Tirtobumi Prakarsatama sued the Company in District Court of Jakarta Timur with the argument that the Company did not fulfill the BANI's verdicts. The claims had been declared based on the verdict No. 64/PDT.G/2012/PN.JKT.TIM on December 10, 2012, stated that the Company had to indemnify PT Tirtobumi
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PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Annual Report 2012
Constructing towards the Future
103
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Prakarsatama sebesar Rp 1.247.567.000.000, atau setara dengan perpanjangan waktu bagi hasil tol selama 24 tahun 2 bulan. Atas putusan ini Perusahaan telah mendaftarkan pernyataan banding ke Pengadilan Tinggi DKI Jakarta pada tanggal 17 Desember 2012.
Prakarsatama Rp 1,247,567,000,000, or equivalent to the extension period of the toll roads for 24 years and 2 months. Company had registered the appeal statement to the Jakarta High Court on December 17, 2012.
49. Informasi Segmen
49. Segment Information
Perusahaan dikelola dan dikelompokkan dalam segmen usaha yang terdiri dari beberapa cabang sebagai berikut (dalam jutaan Rupiah):
The Company is managed and classified into bussines segments which consist of branches as follow (in million Rupiah): 2012
Pusat/ Head Office
Jagorawi
Jakarta Cikampek
Purbaleunyi
Jakarta Tangerang
Camareng
Lainnya/ Others
Konsolidasian/ Consolidated
Pendapatan/Revenue Total Pendapatan untuk Segmen Dilaporkan/ Total Segmented Revenue Pendapatan Konstruksi/ Contruction Revenue Pendapatan Lainnya/ Others Pendapatan Entitas/ Total Revenue Laba Rugi/ Profit and Loss Beban Usaha/ Operating Expenses Pendapatan Bunga/ Interest Income Biaya Keuangan/ Finance Charges Pendapatan (Beban) Lain/ Others Bagian Laba-Rugi atas Entitas Asosiasi/ Net Equity on Associates Laba (Rugi) Sebelum Pajak Penghasilan/ Earning Before Income Tax Beban Pajak Penghasilan/ Income Tax Laba Tahun Berjalan/ Income for the Year Aset Segmen Dilaporkan/ Segment Assets Liabilitas Segmen Dilaporkan/ Segment Liabilities
1,215,747 14,581 7,042 1,237,370
508,088 30,181 11,354 549,623
896,245 45,979 12,704 954,927
924,853 22,503 15,977 963,334
379,581 35,018 4,019 418,618
1,063,570 47,325 27,136 1,138,031
593,668 3,149,412 65,236 3,808,316
5,581,753 3,344,998 143,469 9,070,219
(826,502) 189,207 (740,601) 8,969
(292,770) 72 -1,382
(362,061) 153 -(5,891)
(270,709) 42 -908
(191,335) 49 -2,081
(306,165) 123 (895) 451
(4,186,074) 10,185 (174,650) 181
(6,435,616) 199,829 (916,146) 133,138
3,833
--
--
--
--
--
--
3,833
(127,724) (470,363)
258,306 --
587,127 --
693,575 --
229,413 --
831,545 --
(416,986) (49,082)
2,055,257 (519,445) 1,535,812
7,825,109
2,002,699
2,357,631
2,957,956
1,294,155
5,233,160
3,082,842
24,753,551
13,453,698
83,834
228,484
78,726
65,805
83,959
971,261
14,965,766
2011 Pusat/ Head Office
Jagorawi
Jakarta Cikampek
Purbaleunyi
Jakarta Tangerang
Camareng
Lainnya/ Others
Konsolidasian/ Consolidated
Pendapatan/Revenue Total Pendapatan untuk Segmen Dilaporkan/ Total Segmented Revenue Pendapatan Konstruksi/ Contruction Revenue Pendapatan Lainnya/ Others Pendapatan Entitas/ Total Revenue
870,947 -1,754 872,701
410,673 -5,713 416,386
680,722 -7,467 688,188
705,738 -6,289 712,027
386,960 -6,776 393,735
854,170 -6,038 860,208
934,021 1,496,233 112,273 2,542,527
4,843,230 1,496,233 146,309 6,485,772
(548,637) 203,073 (742,654) 2,360
(234,936) 33 -(138)
(444,679) 72 -(189)
(249,479) 40 -(427)
(210,438) 25 -(381)
(236,503) 39 (2,944) 51
(2,415,542) 27,506 5,198 (381)
(4,340,213) 230,788 (740,400) (45,301)
--
--
--
--
--
--
--
111
(213,158) --
181,346 --
243,392 --
462,161 --
182,942 --
620,852 --
113,222 --
1,590,756 (411,475) 1,179,281
Aset Segmen Dilaporkan/ Segment Assets
5,295,007
1,761,110
2,141,625
2,292,585
2,292,585
4,510,134
2,622,844
20,915,891
Liabilitas Segmen Dilaporkan/ Segment Liabilities
8,948,356
34,415
130,155
36,226
36,226
100,372
3,269,630
12,555,381
Laba Rugi/ Profit and Loss Beban Usaha/ Operating Expenses Pendapatan Bunga/ Interest Income Biaya Keuangan/ Finance Charges Pendapatan (Beban) Lain/ Others Bagian Laba-Rugi atas Entitas Asosiasi/ Net Equity on Associates Laba (Rugi) Sebelum Pajak Penghasilan/ Earning Before Income Tax Beban Pajak Penghasilan/ Income Tax Laba Tahun Berjalan/ Income for the Year
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PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
50. Laba Per Saham
50. Earnings Per Share
Pada tanggal 1 Nopember 2007, Perusahaan memperoleh pernyataan efektif dari BAPEPAM-LK melalui Surat No. S5526/BL/2007 untuk melakukan penawaran umum perdana saham sebanyak 2.040.000.000 saham atas nama seri B dengan nilai nominal Rp 500 (Rupiah penuh) setiap saham (lihat Catatan 1.e dan 31). Perusahaan telah melakukan pembelian kembali atas saham yang beredar (Treasury Stocks) pada tahun 2008 sebanyak 8.758.000 lembar saham periode (4 Oktober 2008 - 6 Nopember 2008) dan sampai tahun 2009 perusahaan telah menarik kembali saham yang beredar sebanyak 24.523.500 lembar saham. Hal ini mengakibatkan jumlah rata-rata tertimbang saham yang beredar berubah menjadi sebanyak 6.775.840.609 lembar. Laba bersih per saham dihitung dari laba tahun berjalan yang dapat diatribusikan kepada pemilik entitas induk dibagi dengan jumlah rata-rata tertimbang saham, dengan rincian sebagai berikut :
On November 1, 2007, the Company obtained effective statement from Bapepam-LK through Letter No. S5526/BL/2007 for initial public offering as much as 2.04 billion shares of series B shares with a par value of Rp 500 (full Rupiah) per share (see Note 1.e and 31). The Company has made repurchase of shares outstanding (Treasury Stocks) in the year 2008 as many as 8.758 million shares period (October 4, 2008 - November 6, 2008), and up in 2009 the Company has pulled back shares as many as 24,523,500 shares outstanding. This resulted in the weighted average number of shares turn out to be as much as 6,775,840,609 outstanding shares. Earnings per share is calculated from profit of the current year attributable to owners of the parent divided by the weighted average of outstanding shares, with details as follows:
2012 Rp Laba Bersih (Rupiah penuh) Rata-rata Tertimbang Saham Beredar (lembar)
2011 Rp
1,602,090,230,262 6,790,965,684
1,196,308,926,201 6,775,840,609
Net Income (full Rupiah) Weighted Average of Outstanding Shares
Laba Bersih Per Saham (Rupiah penuh)
235.91
176.56
Earnings per Share (full Rupiah)
Laba Bersih Per Saham (Rupiah penuh) Sebelum Penyajian Kembali
197,68
176,14
Earnings per Share (full Rupiah) Before Restatement
51. Kebijakan Manajemen Risiko Bisnis Perusahaan dan Entitas Anak mencakup aktivitas pengambilan risiko dengan sasaran tertentu dengan pengelolaan yang profesional. Fungsi utama dari manajemen risiko Perusahaan dan Entitas Anak adalah untuk mengidentifikasi seluruh risiko kunci, mengukur risiko-risiko ini dan mengelola sistem manajemen resiko.
Business of the Company and its Subsidiaries include risk taking activities with certain target by professional management. The main function of the risk management of the Company and its Subsidiaries is to identify all key risks, to measure these risks and manage risk positions. The Company and its Subsidiaries are routinely reviewing the policy and risk management systems to adapt to changes in markets, products and best market practices.
Perusahaan dan Entitas Anak mendefinisikan risiko keuangan sebagai kemungkinan kerugian atau laba yang hilang, yang disebabkan oleh faktor internal maupun faktor eksternal yang berpotensi negatif terhadap pencapaian tujuan Perusahaan.
The Company and its Subsidiaries define financial risk as the possibility of loss or lost profit, caused by internal factors as well as external factors that potentially negative impact on achievement of Company goals.
Tujuan Perusahaan dan Entitas Anak dalam mengelola risiko keuangan adalah untuk mencapai keseimbangan yang sesuai antara risiko dan tingkat pengembalian serta meminimalisasi potensi efek memburuknya kinerja keuangan Perusahaan.
The purpose of the Company and its Subsidiaries in managing financial risks is to achieve an appropriate balance between risk and returns and minimize potential adverse effects of the financial performance of the Company.
Risiko keuangan utama yang dihadapi Perusahaan dan Entitas Anak adalah risiko kredit, risiko suku bunga, risiko
The main financial risks facing by the Company and its Subsidiaries are credit risk, interest rate risk, liquidity risk,
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51. Risk Management Policy
Annual Report 2012
Constructing towards the Future
105
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
likuiditas, risiko nilai tukar mata uang asing dan risiko perubahan kebijakan pemerintah, kondisi ekonomi dan sosial politik. Perhatian atas pengelolaan risiko ini telah meningkat secara signifikan dengan mempertimbangan perubahan dan volatilitas pasar keuangan di Indonesia dan internasional.
foreign currency exchange rates and the risk of changes in government policy, socio - economic and political conditions. Attention to this risk management has increased significantly by considering changes and financial market volatility in Indonesia and internationally.
a. Risiko Kredit Risiko kredit adalah risiko dimana salah satu pihak atas instrumen keuangan akan gagal memenuhi kewajibannya dan menyebabkan pihak lain mengalami kerugian keuangan.
a. Credit Risk Credit risk is the risk that one party of a financial instrument will fail to meet its obligations and cause the other party suffered financial losses.
Instrumen keuangan Perusahaan yang mempunyai potensi atas risiko kredit terdiri dari kas dan setara kas di bank, piutang lain dan investasi tertentu. Jumlah eksposur risiko kredit maksimum sama dengan nilai tercatat atas akun-akun tersebut.
The Company's financial instruments that have the potential for credit risk consist of cash and cash equivalents in bank, other receivables and certain investments. Total maximum credit risk exposure equal to the carrying value of these accounts.
b. Risiko Mata Uang Risiko mata uang adalah risiko fluktuasi nilai instrumen keuangan yang disebabkan perubahan nilai tukar mata uang asing.
b. Currency Risk Currency risk is the risk of fluctuations in the value of financial instruments due to changes in foreign currency exchange rates.
Pendapatan, pendanaan dan sebagian besar biaya operasi dari Perusahaan, dilakukan dalam mata uang Rupiah, oleh karena itu Perusahaan memiliki eksposur yang signifikan terhadap fluktuasi nilai tukar mata uang asing.
Revenue, funding and most of the operating costs of the Company, made in the currency amount, and therefore the Company has significant exposure to fluctuations in foreign currency exchange rates.
c. Risiko Likuiditas Risiko Likuiditas adalah risiko di mana Perusahaan akan mengalami kesulitan dalam rangka memperoleh dana untuk memenuhi komitmennya terkail dengan instrumen keuangan.
c. Liquidity Risk Liquidity risk is the risk in which the Company will experience difficulties in acquiring funds to meet commitments associated with financial instruments.
Perusahaan mengelola risiko likuiditas dengan mempertahankan kas dan secara kas yang mencukupi untuk memungkinkan Perusahaan dalam memenuhi komitmen Perusahaan untuk operasi normal Perusahaan. Selain itu Perusahaan juga melakukan pengawasan proyeksi dan arus kas aktual secara terus menerus serta pengawasan tanggal jatuh tempo aset dan kewajiban keuangan.
The Company manages liquidity risk by maintaining cash and cash equivalents are sufficient to enable the Company to meet its commitment to the normal operation of the Company. In addition, the Company also controls the cash flow projections and actual and continuous supervision maturity financial assets and liabilities.
d. Risiko Harga Risiko harga adalah risiko fluktuasi nilai instrumen keuangan sebagal akibat perubahan harga pasar, terlepas dari apakah perubahan tersebut disebabkan oleh faktor - faktor spesifik dari instrumen individual atau penerbitnya atau faktor-faktor yang mempengaruhi seluruh instrument yang diperdagangkan di pasar.
d. Price Risk Price risk is the risk of fluctuations in the value of financial instruments as a result of changes in market prices, regardless of whether the change was caused by factors - specific factors of the individual instruments or the issuer or factors affecting all instruments traded in the market.
Perusahaan memiliki risiko harga terutama karena investasi Perusahaan atas aset keuangan yang diklasifikasikan dalam kelompok tersedia untuk dijual. Perusahaan mengelola risiko harga dengan melakukan pengawasan internal oleh manajemen secara berkelanjutan.
The company has a price risk primarily because the Company's investment of financial assets classified as available for sale. The Company manages the price risk by performing internal control by management in a sustainable manner.
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Paraf: Constructing towards the Future
Annual Report 2012
379
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
e. Risiko Suku Bunga Risiko bunga atas arus kas adalah risiko dimana arus kas masa datang suatu instrumen keuangan akan berfluktuasi akibat perubahan suku bunga pasar.
e. Interest Rate Risk Interest on the cash flow risk is the risk that future cash flows of a financial instrument will fluctuate due to changes in market interest rates.
Eksposure terhadap suku bunga perusahaan dinilai rendah apabila ditinjau dari sisi neraca, namun perusahaan terus memonitor hal ini untuk meminimalkan dampak negatif terhadap perusahaan. Pinjaman yang dikeluarkan pada tingkat suku bunga variabel mengekspose perusahaan terhadap arus kas dari risiko tingkat suku bunga.
Company's exposure to interest rate is considered low when viewed from the side of the balance sheet, but continue to monitor these companies to minimize the negative impact on the company. Borrowings issued at variable interest rates expose the company to cash flows from interest rate risk
f. Nilal Wajar Nilai wajar aset dan liabillitas keuangan diestimasi untuk keperluan pengakuan dan pengukuran atau untuk keperluan pengungkapan. Aset dan liabilitas keuangan Perusahaan yang diukur dan diakui pada nilai wajar adalah piutang dan utang derivatif.
f. Fair Value The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes. The Company’s financial assets and liabilities that are measured and recognised at fair value are derivative receivables and payables.
Nilai wajar untuk instrumen keuangan yang diperdagangkan di pasar aktif ditentukan berdasarkan kuotasi nilai pasar pada tanggal pelaporan. Kuotasi nilai pasar yang digunakan Perusahaan untuk aset keuangan adalah harga penawaran (bid price), sedangkan untuk liabilitas keuangan menggunakan harga jual (ask price).
The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date. The quoted market price used for financial assets held by the Company is the current bid price, while financial liabilities use ask price.
Nilai wajar instrumen keuangan yang tidak diperdagangkan di pasar aktif ditentukan dengan menggunakan teknik penilaian tertentu. Teknik tersebut menggunakan data pasar yang dapat diobservasi sepanjang tersedia, dan seminimal mungkin mengacu pada estimasi. Apabila seluruh input signifikan atas nilai wajar dapat diobservasi.
The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on estimates. If all significant inputs required to fair value an instrument are observable.
Jika satu atau lebih input yang signifikan tidak berdasarkan data pasar yang dapat diobservasi. Teknik penilaian tertentu digunakan untuk menentukan nilai instrumen keuangan mencakup: penggunaan harga yang diperoleh dari bursa atau pedagang efek untuk instrumen sejenis dan; teknik lain seperti analisis arus kas yang didiskonto digunakan untuk menentukan nilai instrumen keuangan lainnya.
If one or more of the significant inputs is not based on observable market data. Specific valuation techniques used to value financial instrument include:
Tabel di bawah ini menggambarkan nilai tercatat dan nilai wajar dari aset dan liabilitas keuangan:
The fair values of financial assets and liabilities, together with the carrying amounts, are as follow:
the use of quoted market prices or dealer quotes for similar instruments and; other techniques, such as discounted cash flows analysis, are used to determine fair value for the remaining financial instruments
Nilai Tercatat Carrying Value
Nilai Wajar Fair Value
Aset Keuangan Kas dan Setara Kas Investasi Jangka Pendek Piutang Lainnya Dana Ditetapkan Penggunaannya Aset Keuangan Lainnya
4,302,382,487 7,821,744 64,092,326 165,044,677 241,607,444
4,302,382,487 7,821,744 64,092,326 165,044,677 241,607,444
Total
4,780,948,678
4,780,948,678
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2012
Annual Report 2012
Constructing towards the Future
107
Financial Assets Cash and Cash Equivalents Short - Term Investments Accounts Receivable Appropriated Funds Other Financial Assets Total
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) 2012 Nilai Tercatat/ Carrying Value Rp
Liabilitas Keuangan Utang Usaha Utang Kontraktor Utang Lainnya Liabilitas Jangka Panjang yang Jatuh Tempo dalam Satu Tahun Utang Bank Utang Obligasi Utang Bantuan Pemerintah Liabilitas Kerjasama Operasi Liabilitas Pembebasan Tanah Utang Sewa Guna Usaha Provisi Biaya Pelapisan Jalan Tol Liabilitas Jangka Panjang-Setelah Dikurangi Bagian yang Jatuh Tempo dalam Satu Tahun Utang Bank Utang Obligasi Liabilitas Kerjasama Operasi Liabilitas Pembebasan Tanah Utang Sewa Guna Usaha Provisi Pelapisan Jalan Tol Liabilitas Jangka Panjang Lainnya Total
Nilai Wajar/ Fair Value Rp
92,043,627 1,325,014,167 36,344,153
92,043,627 1,325,014,167 36,344,153
1,640,778,297 1,771,616,920 5,886,734 820,300 809,430,952 18,471,092 229,025,982
1,640,778,297 1,882,400,265
3,046,235,536 3,749,446,582 21,385,913 374,102,952 27,356,411 95,773,316 202,454,407
3,046,235,536 4,152,853,529 21,385,913 374,102,952 27,356,411 95,773,316 202,454,407 13,960,377,633
13,446,187,341
5,886,734 820,300 809,430,952 18,471,092 229,025,982
Financial Liabilities Account Payables Contractor Payables Other Payables Current Maturities of Long - Term Liabilities Bank Loans Bonds Payables Loan from Government Joint Operations Liabilities Land Acquisition Liabilities Financial Lease Payable Provision for Overlay Long-Term Liabilities Net of Current Maturity Bank Loans Loan from Government Joint Operations Liabilities Land Acquisition Liabilities Financial Lease Payable Provision for Overlay Other Long Term Liabilities Total
Manajemen Permodalan Tujuan dari Perusahaan dalam mengelola permodalan adalah untuk melindungi kemampuan entitas dalam mempertahankan kelangsungan usaha, sehingga entitas dapat tetap memberikan hasil bagi pemegang saham dan manfaat bagi pemangku kepentingan lainnya, dan untuk memberikan imbal hasil yang memadai kepada pemegang saham dengan menentukan harga produk dan jasa yang sepadan dengan tingkat risiko.
Capital Management The Company purpose in managing capital is to protect the ability of the entity in maintaining business continuity, so that entities can still deliver results for shareholders and benefits for other stakeholders, and to provide adequate returns to shareholders by pricing products and services that are commensurate with the level of risk.
Perusahaan menetapkan sejumlah modal sesuai proporsi terhadap risiko. Perusahaan mengelola struktur membuat penyesuaian dengan modal dan memperhatikan perubahan kondisi ekonomi dan karakteristik risiko aset yang mendasari. Konsisten dengan perusahaan lain dalam industri, Perusahaan memonitor modal dengan dasar rasio utang terhadap modal yang disesuaikan. Rasio ini dihitung sebagai berikut: utang neto dibagi modal yang disesuaikan. Utang neto merupakan total utang (sebagaimana jumlah dalam laporan posisi keuangan) dikurangi kas dan setara kas. Modal yang disesuaikan terdiri dari seluruh komponen ekuitas (meliputi modal saham, selisih kurs penjabaran laporan keuangan dalam valuta asing dan saldo laba). Selama tahun 2012, strategi Perusahaan tidak berubah yaitu mempertahankan rasio utang terhadap modal sebesar maksimum 5:1. Rasio utang terhadap modal pada 31 Desember 2012 adalah sebagai berikut:
The Company set a number of capitals in proportion to the risk. The Company manages its capital structure and makes adjustments taking into account changes in economic conditions and risk characteristics of the underlying asset. Consistent with other companies in the industry, the Company monitors capital on the basis of the ratio of adjusted debt to capital. This ratio is calculated as follows: net debt divided by adjusted capital. Net debt is total debt (as the amount in the statement of financial position) less cash and cash equivalents. Adjusted capital comprises all components of equity (including capital stock, foreign exchange translation adjustment of foreign currency and retained earnings). During the year 2012, the Company's strategy has not changed, namely, to maintain the debt to equity ratio at maximum 5:1. The ratio of debt to equity as at December 31, 2012 are as follows:
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Paraf: Constructing towards the Future
Annual Report 2012
381
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated) 2012 Rp
Liabilitas Jangka Pendek Liabiltas Jangka Panjang Total Liabilitas Total Ekuitas Rasio Utang terhadap Ekuitas
Short-term Liabilities Long-term Liabilities Total Liabilities Total Equity Debt to Equity Ratio
52. Estimasi dan Pertimbang Akuntansi yang Penting
52. Estimated and Critical Accounting Judgements
Perusahaan membuat estimasi dan asumsi mengenai masa depan. Estimasi dan pertimbangan yang digunakan dalam penyusunan laporan keuangan terus dievaluasi berdasarkan pengalaman historis dan faktor lainnya, termasuk ekspektasi dari peristiwa masa depan yang diyakini wajar. Walaupun estimasi ini dibuat berdasarkan pengetahuan terbaik manajemen atas kejadian dan tindakan saat ini, hasil yang timbul mungkin berbeda dengan jumlah yang diestimasi semula. Asumsi dan pertimbangan yang memiliki pengaruh signifikan terhadap jumlah tercatat aset dan liabilitas diungkapkan di bawah.
The Company makes estimates and assumptions concerning the future. Estimates and considerations used in the preparation of financial statements continue to be evaluated based on historical experience and other factors, including expectations of future events that are believed reasonable. Although these estimates are based on management's best knowledge of current events and actions, actual results may differ from those estimates. Assumptions and considerations have a significant effect on the carrying amount of assets and liabilities disclosed in below.
Estimasi dan Asumsi Akuntansi yang Penting Asumsi utama masa depan dan sumber utama estimasi ketidakpastian lain pada tanggal pelaporan yang memiliki risiko signifikan bagi penyesuaian yang material terhadap nilai tercatat aset dan liabilitas untuk tahun berikutnya diungkapkan di bawah ini. Perusahaan mendasarkan asumsi dan estimasi pada parameter yang tersedia pada saat laporan keuangan disusun. Asumsi dan situasi mengenai perkembangan masa depan mungkin berubah akibat perubahan pasar atau situasi di luar kendali Perusahaan. Perubahan tersebut dicerminkan dalam asumsi terkait pada saat terjadinya.
Estimates and Significant Accounting Assumption The main assumptions of the future and the main source of estimation uncertainty on another reporting date that have significant risk of material adjustment to the carrying value of an asset and a liability for the following year is disclosed below. The company based its assumptions and estimation on parameters that are available at the time the financial statements drawn up. Assumptions and the situation regarding future developments may change due to changes in the market or the situation beyond the control of the company. The changes are reflected in the related assumptions at the time of the occurrence
Estimasi Umur Manfaat Aset Tetap dan Aset Takberwujud Hak PengusahaanJalan Tol Perusahaan melakukan penelahaan berkala atas masa manfaat ekonomis aset tetap dan konsesi pengelolaan jalan tol berdasarkan faktor-faktor seperti kondisi teknis, perkembangan teknologi di masa depan dan masa konsesi. Hasil operasi di masa depan akan dipengaruhi secara material atas perubahan estimasi ini yang diakibatkan oleh perubahan faktor yang telah disebutkan di atas.
Estimated of Useful Lives of Fixed Assets and Intangible Asset- Toll Road Concession Rights The Company periodically reviews the useful lives of the fixed assets and toll road concession rights expectation based on technical specification, and technology development in the future and the length of concession. Operating results in the future will be affected by the estimated changes of those factors.
Estimasi Marjin Konstruksi Interpretasi Standar Akuntansi Keuangan yang berlaku mensyaratkan pendapatan konstruksi diakui sebesar nilai wajarnya. Perusahaan menentukan profit atau margin kontruksi dalam menghitung nilai wajar pendapatan kontruksi tersebut berdasarkan estimasi terbaik manajemen yang dihitung dengan model tertentu.
Estimated of Construction Margin The accepted interpretation of accounting standard required that the construction revenue recognized at their fair value. The company determined the profit or construction margin in calculating the fair value of construction margin based on management estimation calculated in acertain model.
d1/March 24, 2013 382
6,648,164,394 8,317,601,479 14,965,765,873 9,787,785,568 1.5 : 1
Annual Report 2012
Constructing towards the Future
109
Paraf:
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
Pertimbangan Penting dalam Penentuan Kebijakan Akuntansi Pertimbangan berikut ini dibuat oleh manajemen dalam rangka penerapan kebijakan akuntansi Perusahaan yang memiliki pengaruh paling signifikan atas jumlah yang diakui dalam laporan keuangan.
Significant Judgements in Determination of Accounting Policy These following judgments were made by management in order the adoption of accounting policy of the company which has the most significant impact on the recognized amount in financial statement.
Klasifikasi Aset dan Liabilitas Keuangan Perusahaan menetapkan klasifikasi atas aset dan liabilitas tertentu sebagai aset keuangan dan liabilitas keuangan dengan mempertimbangkan bila definisi yang ditetapkan PSAK No. 50 (Revisi 2010) dipenuhi. Dengan demikian, aset keuangan dan liabilitas keuangan diakui sesuai dengan kebijakan akuntansi Perusahaan seperti diungkapkan pada Catatan 3.d.
Classification Financial Asset and Liability The Company determines the classifications of certain assets and liabilities as financial assets and financial liabilities by judging if they meet the definition set forth in PSAK No. 50 (Revised 2010). Accordingly, the financial assets and financial liabilities are accounted for in accordance with the Company’s accounting policies disclosed in Note 3.d.
Pengakuan dan Pengukuran Aset Takberwujud Hak Pengusahaan Jalan Tol Perusahaan mengakui aset takberwujud sejauh Perusahaan memiliki hak (lisensi) untuk membebankan pengguna jasa publik. Suatu hak untuk membebankan pengguna jasa publik. Suatu hak untuk membebankan pengguna jasa publik bukan merupakan hak tanpa syarat untuk menerima kas karena jumlahnya bergantung pada sejauh mana publik menggunakan jasa.
Recognition and Measurement of Intangible Asset – Toll Road Concession Right The company recognized intangible assets to the extent that the company owned right (license) to charge the public. A right to charge users of the public service. A right to charge users of the public service is not an unconditional right to receive cash because the amount depends on the extent to which the public using the service.
Sifat imbalan yang diberikan oleh pemberi konsesi kepada Perusahaan akan ditentukan dengan mengacu pada syarat kontrak dan, jika ada, hukum kontrak yang relevan.
The nature of the rewards given by the giver to the concession Company will be determined by reference to the terms of the contract and, if applicable, the relevant contract law.
Reklasifikasi pada Saat Transisi Berdasarkan rencana bisnis yang merupakan bagian tidak terpisahkan dari Perjanjian Pengusahaan Jalan Tol yang mengikat keseluruhan aset yang diperjanjikan sebagai satu kesatuan aset, maka gedung kantor termasuk aset dalam kategori yang menyatu dengan jalan tol, sehingga direklasifikasikan sebagai bagian aset takberwujud konsesi jasa pengelolaan jalan tol.
Reclassification during Transition Based on a business plan that is inseparable part from the toll road concession agreement which binds all assets that are enforced as a single entity, the Office building including assets in the category which merges with the highways, so its reclassified as a part of intangible asset of toll road service concessions.
Aset Takberwujud Lainnya Hak konsesi jalan tol mulai berlaku efektif sejak diterbitkan Surat Perintah Mulai Kerja (SPMK) oleh BPJT, sehingga biaya-biaya yang dikeluarkan sebelum kegiatan konstruksi dimulai atau biaya pra konstruksi jalan tol, termasuk biaya pembebasan lahan atau tanah ditangguhkan dan belum diklasifikasikan sebagai aset takberwujud - konsesi jasa pengelolaan jalan tol.
Other Intangible Asset The toll road concession rights effective from order start working letter published by BPJT, so that the costs incurred before the construction activities started or pre-construction costs of toll roads, including the cost of land or soil acquisition suspended and has not been classified as intangible asset of toll road service concessions.
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383
PT JASA MARGA (PERSERO) Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2012 dan 2011 (Dalam Ribuan Rupiah, Kecuali Dinyatakan Lain)
PT JASA MARGA (PERSERO) Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2012 and 2011 (In Thousand Rupiah, Unless Otherwise Stated)
53. Aktivitas Non Kas
53. Non Cash Activities
Informasi tambahan atas laporan arus kas terkait aktivitas investasi non kas adalah sebagai berikut
Supplemental cash flows information of non cash investing activities is as follows:
2012 Rp Aset Takberwujud Hak Pengusahaan Jalan Tol Aset Sewa Guna Usaha Total
2011 Rp
34,051,560 184,179,605 218,231,165
54. Peristiwa Setelah Periode Pelaporan
Intengible Assets Toll Road Concession Rights Financial Lease Asset Total
54. Events After The Reporting Period
Tidak terdapat kejadian penting setelah tanggal neraca yang memerlukan penyesuaian dan pengungkapan dalam laporan keuangan.
There are no events after the balance sheet date that require adjustments to be made and may require disclosure in the financial statements.
55. Tanggung Jawab Manajemen atas Laporan Keuangan Konsolidasian
55. The Management’s Responsibility on the Consolidated Financial Statements
Manajemen Perusahaan bertanggung jawab atas penyusunan dan isi laporan keuangan konsolidasian yang diotorisasi untuk terbit tanggal 15 Maret 2013.
The Company’s management is responsible for the preparation and content of the consolidated financial statements that were authorized for issued on March 15, 2013.
d1/March 24, 2013 384
12,970,485 67,303,697 80,274,182
Annual Report 2012
Constructing towards the Future
111
Paraf:
www.jasamarga.com
Pro fi l Perusa ha a n
annual report 2012
Glossary Term/Abbreviation GTO
Gardu Tol Otomatis (automated toll booth), the booth for automated transaction.
VMS
Variable Message Sign, screen displaying messages on traffic condition on toll roads.
SPM e-Toll Card e-Toll Pass KTME OBU RTMS SFO
Standar Pelayanan Minimal (minimum level of service), the minimum quality of services provided to the toll road users. Electronic card used for toll payment. Non-stop transaction system using e-Toll Card at automated toll booth (Gardu Tol Otomatis/ GTO) Kartu Tanda Masuk Elektronik (electronic entrance ticket), the card/ticket used at entrance toll gates on toll roads with close system. On Board Unit, a device for automated transaction, placed inside the car to enable toll payment without stopping and opening the window. Remote Traffic Microwave Sensor, a censoring device installed on toll roads to detect the speed of vehicles using toll roads. Scrapping, Filling and Overlay, the activities carried out to maintain toll road asphalt in good condition.
V/C ratio
Volume/Capacity Ratio, a ratio used in measuring density of vehicles on toll roads.
PJU
Penerangan Jalan Umum (public street lighting), the lighting installed on toll roads.
JMTIC
386
Description
Annual Report 2012
Jasa Marga Traffic Information Center, Jasa Marga’s call center that provides information on the condition of toll roads operated by Jasa Marga.
Constructing towards the Future
Cross Reference to Bapepam-LK Regulation No. X.K.6 Subject and Explanation I.
Page
General 1.
Annual Report is to be presented in Indonesian Language. In the event that the Annual Report is also presented it in another language, either within the same document or separated, the Annual Report must contain the same information. In the event that different interpretation occurs due to language translation, the Annual Report in Indonesian Language is then to be used as the reference.
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2.
Annual Report is made in such a way that it is easy to read. Images, charts, tables, and diagrams are presented by stating clear title and/or explanation.
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3.
Annual Report should be printed in light-colored, good quality, and A4-sized paper, bound and possible to be reproduced by photocopying.
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4. Annual Report is presented on the company’s website. II.
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Highlights of Financial Data 1.
Highlights of financial data is presented in comparative form over a period of three (3) financial years or since the commencement of business if the company has been running its business activities for less than three (3) years, and it contains at least: 1. Revenue. 2. Gross Profit. 3. Profit (loss). 4. Profit (loss) attributable to parent and non-controlling interests. 5. Comprehensive profit (loss). 6. Comprehensive profit (loss) attributable to parent and noncontrolling interests. 7. Net profit (loss) per share. 8. Total assets. 9. Total liabilities. 10. Total equity. 11. Profit (loss) to total assets ratio. 12. Profit (loss) to equity ratio. 13. Profit (loss) to revenue ratio. 14. Current ratio. 15. Liabilities to equity ratio. 16. Liabilities to total assets ratio. 17. Other information and ratios relevant to the company and its industry.
2. Annual Report should present information regarding share for each three-month period in the last 2 (two) financial years (if any), consisting at least: 1. Outstanding shares. 2. Market Capitalization. 3. Highest, lowest, and closing share price. 4. Traded share volume.
Constructing towards the Future
22-23
26-27
Annual Report 2012
387
III.
Subject and Explanation
Page
3. In the event of corporate actions such as stock split, reverse stock, stock dividend, bonus share, and par value decrease, share price information referred to in point (2) should then include explanation concerning among others: 1. Date of corporate actions. 2. Ratio of stock split, reverse stock, stock dividend, share bonus, and decrease in par value. 3. Amount of outstanding shares before and after corporate actions. 4. Share prices before and after corporate actions.
26
4. In the event that the company’s share trade is suspended during the year reported, the Annual Report should then include explanation concerning the reason for such suspension.
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5. In the event that such suspension referred to in point (4) still goes on when the Annual Report is published, the Issuer of Public Company should then also explain the actions carried out by the company in solving the matter..
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Board of Commissioners’ Report Report from the Directors contains at least the following: 1. Assessment on the performance of the Directors in managing the company.
IV.
2. View on the prospects of the company’s business established by the Directors.
37-39
3. Changes in the composition of the Board of Commissioners and reasons for such changes (if any).
37
Directors’ Report Report from the Directors contains at least the following: 1. The company’s performance, consisting of among others strategic policies, comparison between achievement of results and targets, and challenges faced by the company. 2. Description of business prospects. 3. Implementation of Good Corporate Governance. 4. Changes in the composition of the Board of Directors and reasons for such changes (if any).
V.
43-44 43 45 46
Company Profile Company profile contains at least the following: 1. Name, address, telephone number, facsimile number, email, and website of the company and/or its branch or representative offices, which enable people to acquire information on the company. 2. Brief history of the company. 3. The company’s business activities in accordance with the latest Articles of Association, and the products and/or services produced.
388
37
Annual Report 2012
Constructing towards the Future
12-13, 263-264
237-239 13, 238-239
Subject and Explanation
Page
4. Organizational structure of the company presented in the form of a chart, at least to one level below the Directors, stating name and job title.
245
5. Company’s Vision and Mission.
14-15
6. Profile of the Board of Commissioners, consisting of: 1. Name.
246
2. Employment record, work experience, and legal basis of being appointed at the Issuer of Public Company for the first time, as stipulated in the Official Report of GMS Resolutions.
247-249
3. Educational background.
247-249
4. Brief explanation on types of training participated in the fiscal year in order to improve competencies of the Board of Commissioners (if any).
138-139
5. Disclosure of affiliated relation with members of the Directors, other members of the Board of Commissioners and the shareholders (if any). 7 Profile of the Directors, consisting of: 1. Name
135
141-143, 250
2. Employment record, work experience, and legal basis of being appointed at the Issuer of Public Company for the first time, as stipulated in the Official Report of GMS Resolutions.
251-253
3. Educational background.
251-253
4. Brief explanation on types of training participated in the fiscal year in order to improve competencies of the Directors (if any).
145
5. Disclosure of affiliated relation with other members of the Directors and the shareholders (if any).
144
8. In the event of a change in the composition of the Board of Commissioners and/or Directors taking place after the fiscal year until the deadline of Annual Report submission as referred to in point (1) letter a, management composition stated in the Annual Report is then the composition of the Board of Commissioners and/or Directors both the latest and the previous one.
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9. Number of employees and description of competency development, e.g. employees training and education. 10. Description of Shareholders and ownership percentage at the end of fiscal year. Information includes among others: 1. Name of shareholders having 5% or more shares.
Constructing towards the Future
218-222
231
Annual Report 2012
389
Subject and Explanation 2. Directors and Board of Commissioners who own shares. 3. Group of public shareholders each having less than 5% (five percent) share ownership. 11. Information concerning major and controlling shareholder, both direct and indirect, until the individual owner, presented in the form of scheme or diagram. 12. Names of subsidiaries, associated companies, joint ventures in which Issuer of Public Company owns control with the entities, along with the percentage of share ownership, line of business, and operating status of such companies (if any). For subsidiaries, information on company address should be added. 13. Chronology of shares listing, changes in the number of shares from the beginning of listing up to the end of the financial year and name of Stock Exchange where company shares are listed (if any). 14. Chronology of other securities listing and rating of the securities (if any).
230-231
242
242-244, 264
26-27, 228 28-29, 228-229 262
16. Names and addresses of institutions and/or capital market supporting professionals. In the event that capital market supporting professionals provide services periodically to the Company, there should be information on services provided, fees and period of assignment.
262
32-34
Management Discussion and Analysis Annual Report must contain discussion and analysis of Financial Report and other significant information by emphasizing material changes taking place during the year under review. It should contain at least: 1. Operational review by business segment in accordance with the industry. Description includes among others: 1. Production, which includes process, capacity and its development. 2. Revenue. 3. Profitability.
48-84
2. Analysis on comprehensive financial performance including a comparison between the financial performance of the current year and that of the previous year, explanation on the causes of such changes and their impact, which among others includes:
85-110
1. Current assets, non-current assets, and total assets.
390
231
15. Name and address of rating agency (if any).
17. Award and certification received by the company, both national and international scale during the fiscal year (if any). VI.
Page
Annual Report 2012
Constructing towards the Future
95-97
Subject and Explanation
Page
2. Short-term liabilities, long-term liabilities, and total liabilities.
98-100
3. Equity.
101
4. Revenue, expenses and profit (loss), other comprehensive revenue and comprehensive income (loss).
86-89, 92-95
5. Cash flows.
101-102
3. Capability to pay debts by presenting relevant ratio.
104
4. The company’s collectable accounts receivable by presenting relevant ratio.
104
5. Capital structure and Management’s policies on the capital structure.
104
6. Discussion on material ties for the investment of capital goods with explanation concerning the purpose of such ties, sources of funds expected to fulfill the said ties, currency of denomination and steps taken by the company to protect the position of related foreign currency against risks.
105
7. Material information and facts occurring after the date of
105
8. The company’s business prospects in relation to the industry, economy in general, and international market, which may be accompanied with supporting quantitative data from reliable data sources.
43, 67-69
9. Comparison between target/projection at the beginning of fiscal year and the realization, which includes revenue, profit, capital structure, and other information deemed necessary by the Company.
105
10. Target/projection of the Company within the next one year at the longest, which includes revenue, profit (loss), capital structure, dividend policy, and other information deemed necessary by the Company.
105
11. Marketing aspects of the company’s products and services, including among others marketing strategies and market share.
64-65
12. Dividend policy along with the date and amount of dividend per share (cash and/or non-cash) and amount of dividend per year announced or paid during the past 2 (two) years.
106
13. Use of Proceeds from public offering: 1. In the event that during the fiscal year reported, the Company has is obliged to submit Report on Realization of Use of Proceeds, then Annual Report should disclose accumulated realization of use of proceeds until the end of the fiscal year. 2. In the event that there is a change in the use of proceeds as stipulated in Regulation No. X.K.4, the Company should then explain such change.
Constructing towards the Future
106-107
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Annual Report 2012
391
VII.
Subject and Explanation
Page
14. Material information concerning, among others investment, expansion, divestment, merge, acquisition, debt/capital restructuring, affiliated transaction, and transaction with conflict of interests, taking place during the fiscal year (if any). Information includes: 1. Date, value and object of transaction. 2. Name of transacting parties. 3. Nature of affiliated relation (if any). 4. Explanation of fairness of transaction. 5. Compliance with related rules and regulations.
107-108
15. Description of changes in regulation which have a significant effect on the company and its impacts on the financial report (if any).
108-109
16. Changes in the accounting policy, rationale and impacts on the financial statement (if any).
109-110
Corporate Governance Corporate governance of the company contains description consisting of at least the following: 1. Board of Commissioners, consisting of among others: 1. Description of responsibility of the Board of Commissioners.
132-134
2. Disclosure of procedures, basis of decision, and amount of remuneration for members of Board of Commissioners.
137-138
3. Disclosure of company policies and the implementation on frequency of Board of Commissioners meetings, including joint meetings with the Directors, and attendance of members of Board of Commissioners in such meetings.
136, 148
2. Directors, consisting of among others: 1. Scope of work and responsibility of each member of the Directors. 2. Disclosure of procedures, basis of decision, and amount of remuneration for members of Directors, along with the relation between remuneration and company performance.
146-147
3. Disclosure of company policies and the implementation on frequency of Directors meetings, including joint meetings with the Board of Commissioners, and attendance of members of Directors in such meetings.
145, 148
4. Resolutions of GMS of the previous year and the realization during the fiscal year, along with reasons in the event that there is a resolution not yet realized.
126-131
5. Disclosure of company policies on performance assessment of members of Directors (of any).
149-150
3. Audit Committee, consisting of among others: 1. Name. 2. Employment record, work experience, and legal basis of appointment.
392
141-143
Annual Report 2012
Constructing towards the Future
150, 254 151, 254-255
Subject and Explanation
Page
3. Educational background.
254-255
4. Period of service of Audit Committee members.
254-255
5. Disclosure of independence of Audit Committee.
152-153
6. Disclosure of company policies and the implementation on frequency of Audit Committee meetings and the attendance of Audit Committee members in such meetings.
154-155
7. Brief description activities carried out by Audit Committee during the fiscal year based on what is stated in Audit Committee Charter.
153-154
4. Other committees the Issuer or Public Company has in order to support the function and tasks of Directors and/or Board of Commissioners, such as Nomination and Remuneration Committee, consisting of among others: 1. Name.
155, 256
2. Employment record, work experience, and legal basis of appointment.
256-257
3. Educational background.
256-257
4. Period of service of committee members.
256-257
5. Disclosure of company policies on independence of committee members.
156-157
6. Description of the tasks and responsibilities.
156
7. Disclosure of company policies and the implementation on frequency of committee meetings and the attendance of committee members in such meetings. 8. Brief description activities carried out by committee during the fiscal year. 5. Description of tasks and function of the Corporate Secretary. 1. Name. 2. Employment record, work experience, and legal basis of appointment. 3. Educational background.
157-158 157 258 161, 258 258
4. Period of service of Corporate Secretary.
161, 258
5. Brief description of tasks implementation of Internal Auditing Unit during the fiscal year.
160-161
6. Description of company’s Internal Auditing Unit. 1. Name.
163, 258
2. Employment record, work experience, and legal basis of appointment.
258
3. Qualification/certification as an Internal Audit (if any).
164
4. Structure and position of Internal Auditing Unit.
163
Constructing towards the Future
Annual Report 2012
393
Subject and Explanation 5. Tasks and responsibilities of Internal Auditing Unit in accordance with that stipulated in Internal Auditing Unit Charter. 6. Brief description of tasks implementation of Internal Auditing Unit during the fiscal year. 7. Description of internal control system implemented in the company, consisting of at least: 1. Operational and financial control, along with compliance with other prevailing rules and regulations. 2. Review on effectiveness of internal control system. 8. Risk management system implemented in the company, consisting of at least: 1. General description of risk management system of the company. 2. Types of risks and efforts to manage such risks. 3. Review on effectiveness of the company’s risk management system. 9. Material litigation faced by the Issuer or Public Company, subsidiaries, present members of the Board of Commissioners and Directors, including among others: 1. Material of the case/claim. 2. Status of settlement of case/claim. 3. Impacts on the financial condition of the company. 10. Information on administrative sanctions to Issuer or Public Company, members of the Board of Commissioners and Directors, by capital market authority and other authorities during the fiscal year (if any). 11. Information on code of ethics and corporate culture (if any) consisting of: 1. Main points of code of ethics. 2. Main points of corporate culture. 3. Form of socialization of code of ethics and its enforcement efforts.
164 164-165
166
167-170 171-176 178-179
180-185
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186-187 186-187 187-188
4. Disclosure of code of ethics is applied to the Board of Commissioners, Directors and employees of the company.
187-188
12. Explanation on employees and/or Management share ownership program carried out by Issuer or Public Company, including among others amount, period of time, requirements for eligible employees and/or Management, and exercise price (if any).
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13. Explanation on Whistleblowing System at the Issuer or Public Company to report misconducts causing potential loss to the company or the stakeholders (if any), consisting of among others: 1. Means of submitting the report on misconducts.
394
Page
195-196
2. Protection for whistleblower.
196
3. Party managing whistleblowing.
193
4. Results of whistleblowing handling.
196
Annual Report 2012
Constructing towards the Future
Subject and Explanation
Page
VIII. Corporate Social Responsibility 1. Discussion on corporate social responsibility consisting of policies, types of programs, and cost, in relation of the aspects of among others: a. Environment, such the use of environmentally friendly and recyclable material and energy, the company’s waste management system, certification in the field of environment, etc.
199-200
b. Labor practices, occupational health and safety, such as equality in gender and work opportunity, work facility and safety, employees turnover, level work accident, training, etc.
201-204
c. Social and community development, such as the use of local work force, empowerment of the company’s surrounding community, improvement of social facilities and infrastructure, other forms of donations, etc.
204-210
a. Product responsibility, such consumers’ health and safety, product information, facilities for customers complaints, number of complaints and complaints handling, etc. 2. Issuer or Public Company may disclose information referred to in point (1) as part of the Annual Report or in a separate report, such as submitted at the same time as Sustainability Report or Corporate Social Responsibility Report.
210
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IX. Audited Financial Report The Financial Report contained in the Annual Report should be presented in accordance with Financial Accounting Standard in Indonesia and has been audited by Accountant. The said Financial Report should contain statement regarding responsibility on the Financial Report in compliance with Regulation No. VIII.G.11 or Regulation No. X.E.1.
Constructing towards the Future
267-384
Annual Report 2012
395
Subject and Explanation X.
Page
Signatures of the Board of Commissioners and Directors 1. Annual Report should be signed by all members of the present Board of Commissioners and Directors.
265
2. The signatures stated in number (1) are presented a separate page in the Annual Report and the said separate page should state that members of the Board of Commissioners and Directors are fully responsible for the accuracy of Annual Report. The separate page is in accordance with Form No. X.K.6-1 of the Attachment of this Regulation.
396
3. In the event that a member of the Board of Commissioners or Directors does not sign the Annual Report, s/he must present a written explanation in a separate letter stating the reason and it is to be attached to the Annual Report.
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4. In the event that member of the Board of Commissioners or Directors not signing the Annual Report does not provide written explanation, written explanation in a separate letter from the other members should then be presented by members of the Board of Commissioners or Directors signing the Annual Report and it is to be attached to the Annual Report.
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Annual Report 2012
Constructing towards the Future
PT Jasa Marga (Persero) Tbk. Plaza Tol Taman Mini Indonesia Indah Jakarta, 13550 - Indonesia +6221 841 3630, 841 3526 +6221 841 3540 www.jasamarga.com
