Annual Report 2016 PT Mandiri Tunas Finance 1
Information Technology Report Procurement GovernanceCompany Social Responsibility
2014
Armed with the desire to become the pride of Indonesia, the Company showed a proud performance with average growth in all lines of over 30% annually. The Company believes will be able to increase the growth of fi-nance and automotive industries that contribute to the Country, both in the development of Micro, Small and Medium Enterprises (SMEs) as well as the opening of new jobs. It became evident that Mandiri Tunas Finance is proud to build the country. As a form of pride, we raised the concept of shadow puppetry which is a traditional art of Indonesia that has been rec-ognized by UNESCO as awesome cultural works and very valuable world heritage. Narrative presented have exceptional artistic value. There is Yu-dhisthira, the eldest of the puppet characters among Panca Pandawa (the five Pandawa), or the sons of Pandu with Dewi Kunti. He is very wise, has a very high moral, fair, patient, honest, confident, and unwilling to specu-late. Yudisthira figure above illustrates the achievement of the Company’s vision “To Be the Best Finance Company, Largest and Trusted in Indonesia in 2014”. On the Company’s performance is very progressive, then at the end of 2014, the Company set a new vision is “To be the Most Progressive and Reliable Multifinance in Indonesia”. This is also reflected in Yudistira figures that are leaders Panca Pandawas who wise and prudent, and be an example for the other four Pandawa.
2015
In the midst of the Indonesian economy is experiencing a slowdown, the Company seeks to continuously improve business performance, sup-ported by the spirit of hard work and dedication in serving the financing needs of Indonesian society. The above efforts, in 2015 the Company man-aged to carve achievement of good business with a record growth of 16% financing. Measured through planning and establishment of a strategic policy, the Company managed to gain momentum in the pursuit of busi-ness goals in conditions that do not support. The achievement is Mandiri Tunas Finance’s commitment in contributing to the nation through im-proving standards of living. By providing automotive financing facilities and other multipurpose financing the Company expects to foster positive growth for the local economy stretching Indonesia as well as increased state revenues from taxes that can be allocated for equitable growth. In 2015, the Company carries the theme of “With Heart Serving the Nation” as a representation of the spirit of the Company in the Company’s Annual Report. The substance contained in the report to provide a clear picture on performance and responsibilities run the Company to all Stakeholders. The representation of theme is manifested in the visual design shown in this Annual Report. Handshake forming heart symbol depicts a tangle of conce
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Table of Content
Theme and Theme Continuation 1
Table of Contents 2
Awards 4
Significant Events 6
Financial Highlights 12
Bonds and Medium Term Notes Highlights 18
Competitive Advantages 20
Business Strategy 21
Testimonials 22
Company Profile 24
Mandiri Tunas Finance at a Glance 26
Milestones 28
Vision, Mission and Corporate Value 30
Company Core Business 32
Organization Structure 34
Management and Senior Officers 36
Board of Commissioners Report 38
Board of Directors Report 40
Responsibility of Members of Board of Commissioners and Board of Directors of the 2016 Annual Report and 2016 Consolidated Financial Report 43
Board of Commissioner Profile 44
Our Innovations 55
Annual Business Plan Report 59
Company Group Structure 67
Shareholders Structure 68
Shareholders Composition 69
Other Securities Listing Chronology 74
Name and Address of Securities Rating Agency 79
Network Map and Branch Office Address 82
Management Discussion Analysis 90
Overview of Operations Per Business Segment 92
Financial Performance 93
Financial Performance Ratio Analysis 102
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Solvency 107
Company Capital Structure 108
Taxation 116
Employee Benefits 117
Estimates and Critical Accounting Considerations 120
Corporate Governance 124
Statement of GCG Commitment 126
Structure and Mechanism of GCG 129
General Meeting of Shareholders 131
Board of Commissioners 133
Committees Under the Board of Commissioners 135
Audit Committee 135
Risk Monitoring Committee 144
Nomination and Remuneration Committee 146
Secretary of the Board of Commissioners 150
Board of Director 150
Relations Commissioners and Directors 154
Remuneration of the Board of Commissioners and Board of Directors 155
Corporate Secretary 156
Access to Information 161
Internal Control Systems 161
Internal Control Unit 162
External Auditor 166
Procurement of Goods and Services 167
Legal Cases 170
Risk management 172
Human Resources 178
Information Technology Reports 185
Governance of Goods and Services Report 190
Corporate Social Responsibility 194
Financial Statements
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AwardsAwards of PT Mandiri Tunas Finance 2016
Indonesia Multifinance Award 2016
Majalah Economic Review
August 2016
Warta Ekonomi Multifinance Consumer
Choice AwardTop 2 Best Financial Performance Aset
di atas Rp 5 T
Majalah Warta Ekonomi
February 2016
Market Conduct 2015
Financial Services
Businesses
Otoritas Jasa Keuangan
February 2016
The Best Work
The Most Progressive Automotive Finance
Indonesia
Mobilinanews.comMarch 2016
Majalah Infobank
September 2016
Infobank Multifinance Award 2016
Multi Finance Category with Total Asset Rp 5 T - 10TMuti Finance Predicate
“Very Good”
Majalah Investor
September 2016
The Best Multifinance 2016
The Best Multi Finance 2016 with Total Assets more than
Rp 5T
Penghargaan Top IT & TELCO 2016
- Corporate Best Practice 2016 - Implementation on
ICT Multifinance 2016-TOP ICT Leadership
Majalah I-Tech
November 2016
The Best Financial Performance Multifinance
Company 2016Asset More Than Rp5T
Warta Ekonomi
December 2016
Economic Review
December 2016
Indonesia Good Corporate Governance
Financial Sector Financial Institutions
Industry Marketing Champion multifinance
Financial Services Business
Markplus Inc.
December 2016
Business News Indonesia
November 29 2016
Top Multifinance 2016
The Best Multi Finance 2016 with Total Assets more than
Rp 5T
GCG AwardTrusted Company
Malajah SWA
December 2016
The Most Progressive Automotive Finance
Indonesia
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Indonesia Multifinance Award 2016 (Majalah Economic Review, 26 Agustus 2016)
The Best Competitive CEO –
Multifinance Of the year
The Best of the Best Marketing (over all)
1st The Best Multifinance - 2016 1st The Best Multifinance - 2016
Best of Multifinance Indonesiaof the Year 2015
Warta Ekonomi Multifinance ConsumerChoice Award 2016
(Majalah Warta Ekonomi, February 3rd 2016)Top 2 Best Financial Performance –
Category Assets more than 5 T
Market Conduct Award 2015 from Financial Service Authority
Performer financial services which conducted Principles of Consumer Protection Financial
Services Sector Based on Self Assessment 2015
AwardMandiri Excellent Award 2016
Subsidiaries Culture Execution Award 2015The 1st Best Subsidiaries
Infobank Multifinance Award 2016(Infobank Magazine, September 29 2016)
Multifinance with predicate “Very Good” on financial performance during 2015
The best work from Mobilinanews.com
The Most Progressive Automotive Financing Corporate
Category “Excellent Company” in Good Corporate Governance 2015
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Significant Events
General Meeting of Shareholder 2016Jakarta, February 24, 2016
Annually General Meeting of Shareholder for the fiscal year 2015, attended by Shareholder, Board of Commissioner and Company’s Board of Director.
MTF AutofiestaFebruary, April, May 2016
The series of exhibitions MTF Autofiesta in Lampung (February 19 - 28), Medan (April 14 - 23) and Palembang (May 9 - June 5) that provide attractive offers for customers.
Media Gathering and Performance Exposure 2015Purwakarta, February 27, 2016
The Company held a media gathering at the same exposure to the performance of 2015 where the Company recorded a fantastic performance on weak auto sales nationwide. Throughout 2015, the MTF posted a net profit growth of over 30%, twice the profit growth of competitors that are only able to achieve the highest growth in the level of 15%.
MTF 7th Anniversary Jakarta, February 12, 2016
Celebration of MTF Anniversary with theme “The Spirit of Officer become Indonesia Pride” in series of event nuanced Indonesia.
National Work Meeting 2016Jakarta, 11-12 January 2017
National Work Meeting (Rakernas) 2016 with theme “The Spirit of Officer to Build Country”.
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Investor GatheringJakarta, April 25, 2016
Organized in order to Public Offering of Continuous Bond II Phase II PT Mandiri Tunas Finance 2016.
Indonesia International Motor Show (IIMS)Jakarta, April 7, 2017
Participation in the automotive exhibition Indonesia International Motor Show (IIMS) 2016, which was held for 10 days. This will be a momentum for Mandiri Tunas Finance (MTF) in providing convenience for people who want to buy a car on credit.
Family GatheringYogyakarta, May 6, 2017
As a token of appreciation for employees and families, MTF organized a family gathering at Prambanan with the theme “Dreaming, Fighting, Rejoice with Family MTF to Build Indonesia” with more than 6,500 participants.
Cooperation with Alfa GroupJakarta, May 25, 2016
Cooperation with Alfaria Trijaya Resources Tbk (SAT) in charge Alfamart, Alfamidi, and Lawson as a partner to provide services for customers MTF installment payments.
Grand Opening of MTF –KupangBranch Office, April 27, 2016
Grand Opening of MTF –KupangBranch Office to reach almost all eastern customer especially on east Nusa Tenggara.
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Signing of Cooperation with the PEFINDO Credit Bureau Jakarta, May 26, 2016
Cooperate with PEFINDO Credit Bureau which make Company can gain easy access to credit information to maintain credit quality.
Gaikindo Indonesia International Auto Show (GIIAS)Tangerang, August 11 to 21, 2016
Participation in the Gaikindo Indonesia International Auto Show (GIIAS) event in 2016, where the MTF provides various promos and launching attractive financing products, “Bunga Pintar”.
Cooperation with PuskopauJakarta, June 6, 2016
MTF establish cooperation with the Air Force Cooperative Center (Puskopau) Halim Perdanakusuma in the procurement of Halim Perdanakusuma airport taxi.
Multifinance with Predicate “Very Good” in Infobank Award 2016
Jakarta, September 29, 2016 - MTF Receives award as a very good multifinance on the Infobank Award 2016. This award was received by MTF on financial performance during 2015 and where the MTF is able to channel financing worth Rp17,1 trillion with profit of Rp306,8 billion.
Public Offering of Continuous Bond III Worth Rp500 billionJakarta, September 5, 2016
The issuance of bonds through the Public Offering of Continuous Bond III Phase I Mandiri Tunas Finance 2016 with a maximum value of Rp 500 billion. The bonds are part of a plan of Continuous Public Offering (PUB) Bond III amounting to Rp 3 trillion.
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Participation in Mandiri Carnival in celebrating the 18th of Bank Mandiri Jakarta, October 29 to 30, 2016
MTF also attended the celebration of MandiriCarnival into two activities, as MTF Representatives on mandiriFun Walk within 200 employees and opening booth a whole event. MTF Booths consist of lots of merchendisce, gifts, and new interesting financing products.
Multifinance Day FSA and IFSALampung, 26-27 November 2016
Participation in Multifinance Day activities organized by the Financial Services Authority (OJK) in collaboration with the Indonesian Financial Services Association (APPI) to introduce financing products and provide greater access to the public to finance companies.
Top IT Implementation Award On Multifinance 2016 & Top IT Leaderships 2016Jakarta, November 25, 2016
The Company received two awards in the line of IT in the Top IT & Telco Award 2016 from iTech Magazine. They are Top IT Implementation On Multifinance 2016 & Top IT Leaderships 2016. The Company is the only finance companies that get this award because it is the most progressive company on the implementation of IT by index survey conducted by iTech.
Predicate “Trusted Company” in GCG Award 2016Jakarta, December 19, 2016
PT Mandiri Tunas Finance re-awarded the trusted company in the GCG Award event organized by SWA Magazine and The Indonesian Institute for Corporate Governance.
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CSR
MTF on MURI INDONESIA for “the biggest Car Replica from school bags” as much 3000 School bag to be donated to Elementary School. Yogyakarta, May 6, 2016
Company conducted CSR activities with established “School Bags Donate Movement” to commemorate National Education Day once listed MURI make “Replica Cars Series with The Most School Bags” using about 3,000 school bags. After listed the MURI record, the bags were donated to elementary schools (SD) in Cangkringan, Sleman, Yogyakarta.
Donation to Orphanage in PaluPalu, June 7, 2016
MTF Central Sulawesi, Palu branch distributed food packages to children from two orphanages, the Santa Maria Mother of the Sacred Heart Orphanage and AlAnshaar Talise Orphanage. Each orphanage get the same food packages, such as rice, instant noodles, cooking oil, sugar, eggs, milk, soap.
Auction of Employees’s Items for CharityMay 2017
Company’s employees donated his belongings to be auctioned off and the results are donated in the form of milk for children to the Sayap Ibu Foundation, Benih Kebajikan Foundation and Vincentius Putri Foundation.
The Board of Director Teaching Program
The Board of Director Teaching Program is part of the company’s active participation to the OJK activities in the conduct of Financial Literacy Education to the Community by presenting the Company’s management as speaker.
Watch Movies With Orphanage Children Jakarta, June 21, 2016
Sharing happiness in the blessings of Ramadan, the Company held a social action to encourage children and orphans of the Yayasan Benih Kebajikan Nusantara Al Hasyim Foundation watched the animation movie “Finding Dory” and distributed food packages and provide textbooks and lessons.
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Share Ta’jilJune 13 to 29, 2016
Company shared Ta’jil during the fasting month in several branches, among others, in Gorontalo, Samarinda, Pangkal Pinang, Gresik, Palembang, and Sukabumi.
Aksi Siaga Sehat Cilegon, September 29, 2016
Healthy Action Alert and free medicine for 250 residents in Tirtayasa village, Cilegon, Banten and support for orphans and the poor. This activity is organized in collaboration with the University of Sultan Ageng Tirtayasa (Untirta) and supported by the Rumah Zakat and Tunas Toyota as a series of events 35th Anniversary Untirta.
Qurban of Limousin Cattle Class E 612 KgJakarta, September 12, 2016
Handover ceremony class E cow weighing 612 kg as a sacrifice in order Idul Adha 1437 H through Bapekis Bank Mandiri Club, conducted by the Director of the MTF Arya Suprihadi (left) with Director of Bank Mandiri Tardi.
Donation for Flood Victims in GarutGarut, October 27, 2016
Help for victims of flash floods that hit the Garut city caused by the Cimanuk river overflowed. The donation worth 8.8 million donated in the form of basic foods such as rice, gas bottles, baskets of clothes, toiletries, cookware, and child’s milk.
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Financial Highlights
Statement of Financial PositionIn Million Rupiah
Description 2016 2015 2014 2013
Assets
Cash and Cash Equivalent
Cash 24.074 19.938 13.951 12.929
Cash in Bank
Third Party 21.483 3.187 8.865 11.818
Related Parties 212.337 68.841 250.634 166.492
257.894 91.966 273.450 191.239
Customer Financing Receivable
Third Party 9.956.989 8.148.026 6.080.567 4.639.163
Related Party 10.532 5.886 7.420 5.738
9.967.521 8.153.912 6.087.987 4.644.901
Less: Allowance for Impairment Losses (298.650) (270.477) (194.852) (133.356)
9.668.871 7.883.435 5.893.135 4.511.545
Finance Lease Receivable
Third Party 834.483 604.150 783.737 619.691
Less : Allowance for Impairment Losses (4.538) (5.791) (17.213) (7.537)
829.945 598.359 766.524 612.154
Other Receivable
Third Party 69.420 76.923 43.921 27.546
Related Party 274.585 388.421 320.326 223.185
344.005 465.344 364.247 250.731
Allowance for Impairment Losses (785) (785) (794) (813)
343.220 464.559 363.453 249.918
Deferred Tax Asset 23.079 19.907 12.885 8.422
Excess Tax Bill 65.538 - - -
Fixed Assets 141.322 102.852 74.531 44.006
Other Assets
Third Party 73.061 41.081 36.845 22.421
Related Party 1.132 835 966 442
Total Assets 11.404.062 9.202.994 7.421.789 5.640.147
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Financial Highlights
Statement of Financial PositionIn Million Rupiah
Description 2016 2015 2014 2013
Liability
Account Payable 593.910 390.262 523.518 260.798
Other Payable
Third Party 150.048 110.205 84.605 27.532
Related Party 106.733 44.803 53.799 134.905
Current Tax Liability 13.594 20.462 11.037 15.833
Accrued Expenses
Third Party 86.794 91.142 90.335 63.064
Related Party 3.333 4.933 4.060 2.647
Bank Loans
Third Party 3.293.873 3.412.510 2.394.069 1.937.305
Related Party 2.327.619 2.088.833 1.911.735 1.318.522
5.621.492 5.501.343 4.305.804 3.255.827
Unamortized Provision Cost (12.340) (14.753) (14.662) (14.764)
5.609.152 5.486.590 4.291.142 3.241.063
Securities Issued
Third Party 2.244.000 1.217.250 1.032.000 839.000
Related Party 1.081.000 632.750 418.000 361.000
3.325.000 1.850.000 1.450.000 1.200.000
Unamortized Emission Cost (8.766) (4.590) (2.631) (3.265)
3.316.234 1.845.410 1.447.369 1.196.735
Employee Benefits Liability 50.135 36.549 21.271 11.829
Total Liabilities 9.929.933 8.030.356 6.527.136 4.954.406
Equity - -
Share Capital
Paid up Capital 250.000 250.000 250.000 250.000
Actuarial Losses on Employee Benefits Liabilities (14.695) (11.496) (6.080) (2.103)
Retained Earnings
Appropriated 50.000 50.000 50.000 50.000
Unappropriated 1.188.824 884.134 600.733 387.844
Total Equity 1.474.129 1.172.638 894.653 685.741
Total Liability and Equity 11.404.062 9.202.994 7.421.789 5.640.147
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Statement of Comprehensive IncomeIn Million Rupiah
Description 2016 2015 2014 2013
Revenue
Customer lease 1.772.265 1.423.223 1.063.442 859.887
Finance Lease 92.307 99.641 87.369 59.897
Interest 10.099 7.672 19.798 7.026
Net Others 574.598 456.996 342.946 239.386
Total Revenue 2.449.269 1.987.532 1.513.555 1.166.196
Expenses
Financial Expense (921.263) (703.121) (548.682) (443.492)
Salary and Allowances (342.088) (304.698) (235.081) (179.091)
General and Administration (309.840) (279.747) (197.569) (149.541)
Provision for Impairment Losses:
Customer Finance (426.997) (291.487) (209.114) (150.153)
Finance Lease (196) 2.356 (10.805) (6.756)
Other Receivable - 9 19 166
Total Expenses (2.000.384) (1.576.688) (1.201.232) (928.867)
Income Before Tax 448.885 410.844 312.323 237.329
Tax Expense (2.020) (1.534) (3.960) (1.405)
Income before Income tax 446.865 409.310 308.363 235.924
Income Tax Expense (111.495) (102.510) (74.317) (59.442)
Current Year Income 335.370 306.800 234.046 176.482
Comprehensive Income
Items that will not reclassified to income statement
Actuarial Profit (Loss) on Employee Benefit Liabilities (4.266) (7.221) (5.302) 3.248
Related Income Tax 1.067 1.805 1.325 (812)
Other Comprehensive Income-Net of Tax (3.199) (5.416) (3.977) 2.436
Total of Current Year Comprehensive Income 332.171 301.384 230.069 178.918
Basic Earnings per Share (Rupiah) 134 123 94 71
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CURRENT YEAR PROFIT
0
100.000
200.000
2013 2014 2015 2016
300.000
400.000335.370
306.800
234.046176.482
Incomeamounting to
RP335,37 Trillion increase
9,31%
TOTAL CURRENT YEAR COMPREHENSIVE INCOME
0
100.000
200.000
2013 2014 2015 2016
300.000
400.000332.171
301.384
230.069178.918
Comprehensive Income
amounting to Rp332,17 Trillion
increase10,22%
TOTAL REVENUE
0
500.000
1.000.000
2013 2014 2015 2016
1.500.000
2.500.000
2.500.000
3.000.000
2.449.269
1.987.532
1.513.555
1.166.196
Revenueamounting
to Rp2,45 Trillion increase
23,23%
TOTAL ASSETS
0
2.000.000
4.000.000
2013 2014 2015 2016
6.000.000
8.000.000
10.000.000
12.000.000 11.404.062
9.202.994
7.421.789
5.640.147 Total Company Asset
amounting to Rp11,4 Trillion
increase23,92%
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TOTAL EQUITY
Total Company Equity
amounting toRp1,4 Trillion
increase25,71%
TOTAL LIABILITIES
Total Company Liabilities amounting to
Rp9,9 Trillion increase
23,65%0
2.000.000
2013 2014 2015 2016
4.000.000
6.000.000
8.000.000
10.000.000
8.030.356
9.929.933
6.527.136
4.954.406
2013 2014 2015 2016
0
600.000
800.000
1.000.000
1.200.000
1.400.000
1.600.000
685.741
894.653
1.172.638
1.474.129
300.000
250.000
200.000
150.000
100.000
0
TOTAL CONSUMER
2013 2014 2015 2016
299.578
327.962
259.321
209.792
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TOTAL NEW FINANCING
18.000.000
16.000.000
14.000.000
12.000.000
10.000.000
8.000.000
6.000.000
0
Rp Juta
180.000
160.000
140.000
120.000
100.000
80.000
60.000
0
Unit
11.590.044
14.775.322
17.141.87318.629.776
102.726
121.938 121.583
104.053
2013 2014 2015 2016
Total (Rp Million)
Unit
NEW CAR FINANCING
18.000.000
16.000.000
14.000.000
12.000.000
10.000.000
8.000.000
6.000.000
0
Rp Juta
160.000
140.000
120.000
100.000
80.000
60.000
40.000
0
Unit
2013 2014 2015 2016
Total (Rp Million)
Unit
9.887.052
13.815.064
16.434.62617.809.309
71.348
99.863105.329
98.622
30.000.000
25.000.000
20.000.000
15.000.000
10.000.000
5.000.000
1.000.000
0
Rp Juta
TOTAL UNDER MANAGEMENT FINANCING RECEIVABLE
2013 2014 2015 2016
26.758.485
30.437.909
21.161.17515.627.805
RATING RESULTS*
Note:*based on ranked by PT Pefindo
2013 2014 2015 2016
idAA idAA idAAidAA+
TOTAL BUSINESS NETWORK
100
80
60
40
02013 2014 2015 2016
Branch Office
Satellite Office
0 0
93 91
7788
20 21
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Bonds and Medium Term Notes HighlightsOverview of Bonds
Issuance Year Bond Name Series Grade Total (Rp) Interest Rate Interest Payment Frequency Issuance Date Due Date Description
2003 Tunas Financindo Sarana Bond I with Fixed Interest Rate - idBBB+ 500.000.000.000 14,50 % p.a Every 3 (three) months June 4, 2003 May 29, 2006 Paid
2004 Tunas Financindo Sarana Bond II with Fixed Interest Rate - idBBB+ 350.000.000.000 10,00 % p.a Every 3 (three) months June 15, 2004 July 22, 2005 Paid
2005 Tunas Financindo Sarana Bond III with Fixed Interest Rate
A idA- 150.000.000.000 10,625 % p.a Every 3 (three) months July 1, 2005 July 8, 2006 Paid
B idA- 100.000.000.000 12,825 % p.a Every 3 (three) months July 1, 2005 July 8, 2007 Paid
C idA- 100.000.000.000 13,250 % p.a Every 3 (three) months July 1, 2005 July 8, 2008 Paid
350.000.000.000
2007 Tunas Financindo Sarana Bond IV with Fixed Interest Rate
A idA- 150.000.000.000 10,00 % p.a Every 3 (three) months February 14, 2007 February 27, 2008 Paid
B idA- 100.000.000.000 10,40 % p.a Every 3 (three) months February 14, 2007 February 22, 2009 Paid
C idA- 350.000.000.000 11,00% p.a Every 3 (three) months February 14, 2007 February 22, 2010 Paid
600.000.000.000
2008 Tunas Financindo Sarana Bond V with Fixed Interest Rate
A idA- 350.000.000.000 10,00 % p.a Every 3 (three) months February 12, 2008 February 27, 2009 Paid
B idA- 25.000.000.000 10,50 % p.a Every 3 (three) months February 12, 2008 February 20, 2010 Paid
C idA- 50.000.000.000 11,00 % p.a Every 3 (three) months February 12, 2008 February 20, 2011 Paid
D idA- 175.000.000.000 11,25 % p.a Every 3 (three) months February 12, 2008 February 20, 2012 Paid
600.000.000.000
2011 Tunas Financindo Sarana Bond VI with Fixed Interest Rate
A idA+ 48.000.000.000 8,60 % p.a Every 3 (three) months May 10, 2011 May 23, 2012 Paid
B idA+ 52.000.000.000 9,60 % p.a Every 3 (three) months May 10, 2011 May 19, 2013 Paid
C idA+ 350.000.000.000 10,00 % p.a Every 3 (three) months May 10, 2011 May 19, 2014 Paid
D idA+ 150.000.000.000 10,70 % p.a Every 3 (three) months May 10, 2011 May 19, 2015 Paid
600.000.000.000
2013 Continuous Bond I of MTF Phase I
A idAA 425.000.000.000 7,75 % p.a Every 3 (three) months June 5, 2013 June 5, 2016 Paid
B idAA 75.000.000.000 7,80 % p.a Every 3 (three) months June 5, 2013 June 5, 2017 -
500.000.000.000
2014 Continuous Bond I of MTF Phase II
A idAA 425.000.000.000 10,70 % p.a Every 3 (three) months May 19, 2014 May 23, 2017 -
B idAA 175.000.000.000 10,85 % p.a Every 3 (three) months May 19, 2014 May 23, 2018 -
600.000.000.000
2015 Continuous Bond I of MTF Phase III idAA 150.000.000.000 9,75 % p.a Every 3 (three) months June 9, 2015 June 9, 2018 -
2015 Continuous Bond II of MTF Phase I
A idAA 500.000.000.000 10,20 % p.a Every 3 (three) months December 11, 2015 December 18, 2018 -
B idAA 100.000.000.000 10,80 % p.a Every 3 (three) months December 11, 2015 December 18, 2020 -
600.000.000.000
2016 Continuous Bond II of MTF Phase II
A idAA 720.000.000.000 8,95 % p.a Every 3 (three) months June 1, 2016 June 1, 2019 -
B idAA 680.000.000.000 9,25 % p.a Every 3 (three) months June 1, 2016 June 1, 2021 -
1.400.000.000.000
2016 Continuous Bond III of MTF Phase IA idAA+ 400.000.000.000 8,20% p.a Every 3 (three) months 29 September 2016 October 7, 2019 -B idAA+ 100.000.000.000 8,55% p.a Every 3 (three) months 29 September 2016 October 7, 2021 -
500.000.000.000
Total Bond Payable as of December 31 2016 Rp3.325.000.000.000
Issuance Year MTN Name Total Rank
(*)Interest
RateInterest Payment
Frequency Issuance Year Due Date Description
2012Medium Term Notes (MTN) Mandiri Tunas Finance III Year 2012
200.000.000.000 - 9,95% p.a Every 3(three) months February 2, 2012 February 2, 2015 Paid
Overview of Medium Term Notes
*) Based on the rating by PT Securities Rating Indonesia (Perfindo) at the time of issuance of the MTN.
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Issuance Year Bond Name Series Grade Total (Rp) Interest Rate Interest Payment Frequency Issuance Date Due Date Description
2003 Tunas Financindo Sarana Bond I with Fixed Interest Rate - idBBB+ 500.000.000.000 14,50 % p.a Every 3 (three) months June 4, 2003 May 29, 2006 Paid
2004 Tunas Financindo Sarana Bond II with Fixed Interest Rate - idBBB+ 350.000.000.000 10,00 % p.a Every 3 (three) months June 15, 2004 July 22, 2005 Paid
2005 Tunas Financindo Sarana Bond III with Fixed Interest Rate
A idA- 150.000.000.000 10,625 % p.a Every 3 (three) months July 1, 2005 July 8, 2006 Paid
B idA- 100.000.000.000 12,825 % p.a Every 3 (three) months July 1, 2005 July 8, 2007 Paid
C idA- 100.000.000.000 13,250 % p.a Every 3 (three) months July 1, 2005 July 8, 2008 Paid
350.000.000.000
2007 Tunas Financindo Sarana Bond IV with Fixed Interest Rate
A idA- 150.000.000.000 10,00 % p.a Every 3 (three) months February 14, 2007 February 27, 2008 Paid
B idA- 100.000.000.000 10,40 % p.a Every 3 (three) months February 14, 2007 February 22, 2009 Paid
C idA- 350.000.000.000 11,00% p.a Every 3 (three) months February 14, 2007 February 22, 2010 Paid
600.000.000.000
2008 Tunas Financindo Sarana Bond V with Fixed Interest Rate
A idA- 350.000.000.000 10,00 % p.a Every 3 (three) months February 12, 2008 February 27, 2009 Paid
B idA- 25.000.000.000 10,50 % p.a Every 3 (three) months February 12, 2008 February 20, 2010 Paid
C idA- 50.000.000.000 11,00 % p.a Every 3 (three) months February 12, 2008 February 20, 2011 Paid
D idA- 175.000.000.000 11,25 % p.a Every 3 (three) months February 12, 2008 February 20, 2012 Paid
600.000.000.000
2011 Tunas Financindo Sarana Bond VI with Fixed Interest Rate
A idA+ 48.000.000.000 8,60 % p.a Every 3 (three) months May 10, 2011 May 23, 2012 Paid
B idA+ 52.000.000.000 9,60 % p.a Every 3 (three) months May 10, 2011 May 19, 2013 Paid
C idA+ 350.000.000.000 10,00 % p.a Every 3 (three) months May 10, 2011 May 19, 2014 Paid
D idA+ 150.000.000.000 10,70 % p.a Every 3 (three) months May 10, 2011 May 19, 2015 Paid
600.000.000.000
2013 Continuous Bond I of MTF Phase I
A idAA 425.000.000.000 7,75 % p.a Every 3 (three) months June 5, 2013 June 5, 2016 Paid
B idAA 75.000.000.000 7,80 % p.a Every 3 (three) months June 5, 2013 June 5, 2017 -
500.000.000.000
2014 Continuous Bond I of MTF Phase II
A idAA 425.000.000.000 10,70 % p.a Every 3 (three) months May 19, 2014 May 23, 2017 -
B idAA 175.000.000.000 10,85 % p.a Every 3 (three) months May 19, 2014 May 23, 2018 -
600.000.000.000
2015 Continuous Bond I of MTF Phase III idAA 150.000.000.000 9,75 % p.a Every 3 (three) months June 9, 2015 June 9, 2018 -
2015 Continuous Bond II of MTF Phase I
A idAA 500.000.000.000 10,20 % p.a Every 3 (three) months December 11, 2015 December 18, 2018 -
B idAA 100.000.000.000 10,80 % p.a Every 3 (three) months December 11, 2015 December 18, 2020 -
600.000.000.000
2016 Continuous Bond II of MTF Phase II
A idAA 720.000.000.000 8,95 % p.a Every 3 (three) months June 1, 2016 June 1, 2019 -
B idAA 680.000.000.000 9,25 % p.a Every 3 (three) months June 1, 2016 June 1, 2021 -
1.400.000.000.000
2016 Continuous Bond III of MTF Phase IA idAA+ 400.000.000.000 8,20% p.a Every 3 (three) months 29 September 2016 October 7, 2019 -B idAA+ 100.000.000.000 8,55% p.a Every 3 (three) months 29 September 2016 October 7, 2021 -
500.000.000.000
Total Bond Payable as of December 31 2016 Rp3.325.000.000.000
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Competitive Advantages
Some of the competitive advantages of the Company are as follows:
1. The shareholders which are PT Bank Mandiri (Persero) Tbk and PT Tunas Ridean Tbk continues to provide
support in the management of the Company, especially in the ongoing availability of funding sources, the use
of infrastructure and availability of the unit.
2. The Company has an extensive cooperation with Agent licensee and dealer so that the Company can finance
almost all brands of vehicles ranging from low cost green car (LCGC) up to luxury cars.
3. The Company has financing packages complete and competitive interest, ranging from a tenor of 6 months to
7 years.
4. Paying retail and corporate fleet segments both passenger cars commercial cars.
5. It has a wide business network in 32 provinces in Indonesia including 21 Satellite Offices in the branch offices
of the Bank.
6. The credit process are quick and easy with the support of information technology such as mobile marketing
and mobile surveys.
7. Provide comprehensive insurance protection to customers of the Company.
8. Consumers get a member card that serves as a membership card with a variety of exciting promos and can also serve as a discount shopping card.
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Business Strategy
The Company has established policies and management strategies to be implemented in 2016 as follows:
1. MTF financing more focused on the segment of Tier 1 which is the segment of passenger with a DP of at least 25% with a composition of 60% -70% of new lending.
2. Financing products on the commercial segment will be focused on segments with high DP as well as restrictions principal debt.
3. The market penetration in areas that are still relatively healthy, especially Jakarta and East Java.4. The area has a high historical loss AR will be focused to do the shifting portfolio and credit quality improvement.5. Optimizing the alliance with Bank Mandiri in particular for financing cooperation KPM products and pursue a
strategy of alliances with other subsidiaries of Bank Mandiri.6. Optimize the business portfolio of fleet financing with a focus on Car Ownership Program (COP) or rental of
SOEs.7. MTF operates a policy of cost efficiency by controlling costs, particularly related to Collection Expenses and
increase employee productivity.8. MTF has plans to expand by reaching multipurpose financing Financing Multipurpose sector education,
marriage, home renovation, spiritual tourism, leisure and health.
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Testimonials
Henry Kosala WahyadiyatmikaPresident Director of PT.Bumen Redja Abadi
Cooperate with Mandiri Tunas Finance as a finance company give a positive impact on business growth and sales of our motor vehicles. With a complete product financing, MTF can reach all segments of consumers according to their needs. Providing excellent service, fast and professional, MTF easier for our customers to purchase a vehicle of his dreams, We Bumen Redja Abadi represent Armda group feel happy and satisfied with this cooperation.
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Lila NirmadaniCFO Elevenia
I am one of the MTF customers, several times I use the service from them, basically I’m quite satisfied because the MTF has a pretty good rate so it is very flexible for us to define it according to our capabilities, and MTF also have some account executive. My time is very limited, so the tasks they have done really helped me to complete the administration in time, hopefully in the future hopes MTF can be better and have product innovation that more attractive than it is now. Thank MTF
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COMPANY PROFILECompany Identity
Company Name : Company Core business :
Product and Service :
Company’s Status :Establishment Date :
Establishment Deed :
Authorized Capital :Paid Capital :Ownership :
Total Employee :
Head Office Address :
Total Branch Office :
Total Satellite Office :
Nominal Value of Shares :
PT Mandiri Tunas FinanceBased on the Company’s Articles of Association, the Company engages in the field of financing institution, in which to obtain its goals and objectives, the Company conducts business activities of investment financing, working capital financing, multipurpose financing, and other financing activities pursuant to agreement from Indonesia Financial Services Authority.Financing on motor vehicles for retail and corporate customers including new and used cars, motorcycles, commercial vehicles and heavy equipments as well as multipurpose financing.The subsidiary of PT Bank Mandiri (Persero) Tbk and PT Tunas Ridean Tbk.May 17, 1989 under the name of PT Tunas Financindo Corporation.
- Deed of Establishment No. 262 dated May 17, 1989 in the presence of Misahardi Wilamarta, S.H, a Notary in Jakarta.- Decree of the Ministry of Justice, Republic of Indonesia No. C2-4868.HT’89 dated June 1, 1989.- State Gazette of the Republic of Indonesia No. 57 dated July 18, 1989, Supplement No. 1369.Authorized Capital: Rp1.000.000.000.000Paid-in Capital: Rp250.000.000.000PT Bank Mandiri (Persero) Tbk 51%PT Tunas Ridean Tbk 49%
3.572 employees
Graha Mandiri Lt. 3A Jl. Imam Bonjol No. 61Jakarta 10310 - Indonesia Telepon : (62-21) 230 5608, Fax : (62-21) 230 5618Email : [email protected] : www.mtf.co.idWebsite : www.mtf.co.id93 Branch Offices throughout 32 provinces and cities of: Banda Aceh, Medan, Rantau Prapat, Padang, Bukittinggi, Batam, Pekanbaru, Duri, Jambi, Baturaja, Rokan Hulu, Tanjung Pinang, LubukLinggau, Muara Bungo, Bengkulu, Palembang, Lampung (7 Branch Offices), Pangkal Pinang, Cilegon, Serang, Rangkasbitung, Tangerang (3 Branch Offices), Jakarta (9 Branch Offices), Bogor, Cibubur, Cibinong, Depok, Bekasi (3 Branch Offices), Sukabumi, Karawang, Bandung (2 Branch Offices), Tasikmalaya, Garut, Subang, Cirebon, Semarang, Tegal, Solo, Yogyakarta, Purwokerto, Magelang, Pekalongan, Kudus, Surabaya (2 Branch Offices), Malang, Kediri, Jember, Madiun, Tuban, Mojokerto, Gresik, Denpasar (2 Branch Offices), Mataram, Pontianak, Balikpapan, Tarakan, Palangkaraya, Samarinda, Banjarmasin, Tanjung, Banjarbaru, Bontang, Makassar, Parepare, Kendari, Manado, Palu, Gorontalo, Sintang, Sampit, Mamuju, Kotamobagu, and Kupang.21 Satellite Operations located on Branch Offices of Bank Mandiri, namely: Pasaman Barat, Solok, Belitung, Lahat, Tugu Mulyo, Sumedang, Indramayu, Banjarnegara, Cilacap, Salatiga, Sumbawa, Singaraja, Blitar, Lamongan, Pasuruan, Bone, Kolaka, Marisa, Bulukumba, Palopo.Rp100 per share
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Stock Exchange Listing :Ticker Symbol :Bond Listing Date :
Bond Listing Date :
Corporate Secretary :
Customer Service and : Service Hour
Social Media Network :
Indonesia Stock ExchangeTUFI• Bonds of Mandiri Tunas Finance VI Year 2011: May 20, 2011• Continuous Bonds I of Mandiri Tunas Finance Phase I Year 2013: June 7, 2013• Continuous Bonds I of Mandiri Tunas Finance Phase II Year 2014: May 26, 2014• Continuous Bonds I of Mandiri Tunas Finance Phase III Year 2015: May 28, 2015• Continuous Bonds II of Mandiri Tunas Finance Phase I Year 2015: December 11, 2015• Continuous Bonds II of Mandiri Tunas Finance Phase II Year 2016: June 1, 2015• Continuous Bonds II of Mandiri Tunas Finance Phase I Year 2016: October 7, 2015
PT Pefindo• Bond Rating: idAA+ (Double A Plus)• Company Rating (National) idAA+ (Double A Plus; Stable Outlook)PT Fitch Ratings Indonesia• Company Rating (National) AA(idn); Stable Outlook.
Nenny LasmanawatiGraha Mandiri Lt. 3AJl. Imam Bonjol No. 61Jakarta 10310 – IndonesiaTelephone : (62-21) 230 5608Fax : (62-21) 230 5618Email : [email protected] [email protected] : [email protected] (Care Center): 1500059Monday -Friday : 08.30 – 17.30 WIB
Facebook fanpage: MTFAutoLoanTwitter: @MTF_AutoLoanYoutube: MTFAutoLoanInstagram: MTFAutoLoanGoogle Plus: MTFAutoLoan
Annual Report 2016 PT Mandiri Tunas Finance
Mandiri Tunas Finance at a Glance
Originally established under the name of PT Tunas Financindo Corporation in 1989 which is engaged in the provision of financing facilities for motor vehicles, especially new customers from the car dealership owned by the Tunas Ridean Group. Then in 2000, the Company renamed into PT Tunas Financindo Sarana. Since the establishment until 2009, all shares of the Company owned by PT Tunas Ridean Tbk Group, which is currently the largest independent automotive group with more than 100 branches spread all over Indonesia.
Aiming to further expand its financing business and to improve the performance of the Company, on February 6, 2009, PT Bank Mandiri (Persero) Tbk acquiring 51% company’s shares and change the name from PT Tunas Financindo Sarana to PT Mandiri Tunas Finance which is also followed by changes the company logo. Meanwhile, 49% of shares still held by PT Tunas Ridean Tbk. As part of the Subsidiary PT Bank Mandiri (Persero) Tbk and PT Tunas Tbk., The Company is required to always grow progressively and sustainable as well as being a reliable financing company in Indonesia.
The Company had a remarkable development since 2009 which only had 33 branches before and now become 91 branches and 21 satellite offices spread across 28 provinces in Indonesia. This development is inseparable from the support consistency of performance of the company remains focused on financing in the automotive and multipurpose sectors. Financing provided by the Company includes the financing of new cars, used cars, motorcycles including large motorcycles, commercial vehicles, heavy equipment and multipurpose education. And in 2015, the Company expanded its business into a multipurpose financing education sector. This is done to address the Regulation of Financial Services Authority of Indonesia OJK No. 29/POJK.05/2014 so that the Company expand its financing business in the multipurpose financing, and other financing business activities.
Since 2003, the Company has issued and listed bonds I in Surabaya Stock Exchange are now merged into the Indonesia Stock Exchange, until the year 2011, the Company also has listed Bonds VI in the Indonesia Stock Exchange. Then the Company has also made a Public Offering of Continuous Bonds I Phase I in 2013,
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“To be the most progressive and reliable multi finance in Indonesia, is the vision of the company that carried since the beginning of 2016. To achieve this, the Company’s focus is oriented to meeting the credit needs of the people, providing optimal advantages and benefits to stakeholders, building professionals human resources unyielding formulated through PERWIRA work culture as well as being a fun and boast institutions to achieve the best performance.”
Annual Report 2016
the Public Offering of Continuous Bonds I Phase II In 2014, the Public Offering of Continuous Bonds I Phase III In 2015, the Public Offering of Continuous Bonds II Phase I in 2015, and Public Offering of Continuous Bond II Phase II, and the last the Public Offering of Continuous Bond III Phase I 2016. The results of the Company’s performance improved in line with the results of the company rating. In 2003, PT Pemeringkat Efek Indonesia (PEFINDO) gave rank idBBB + (triple B plus) to be AA (double A) in 2012, then PEFINDO reassign rating AA (double A) in 2013, 2014, 2015, and until the end the current year 2016 the Company can maintain the rating AA (Double A). The effect of this good rating is believed can suppress the burden of interest costs incurred by the more efficient so it can boost its performance become more optimal.
In 2016, the company has mastered enough market share for new cars. The Company also has distributed new financing amounting to Rp18.6 trillion with total financing receivables managed amaounting to Rp31,3 trillion. With the tagline Fast and Easy as the mainstay of the Company, to boost continuously to provide the best solution for consumers who want to have a motor vehicle with a quick and easy process.
By providing easy, innovative and competitive facilities and financing solution for consumers to help realize the dream of owning a car (new and used), motorcycles (special designated areas) and commercial vehicles, both individuals and corporations in the form of financing and leasing as well as multipurpose education, the Company still come first service to consumers in terms of giving convenience especially supported by branch offices spread throughout Indonesia and qualified human resources and adequate infrastructure facilities.
In 2017, the Company plans to continue to develop business network by opening 3 satellite offices located in the Bank Mandiri branch offices as well as 5 new branches in the second level with the potential to increase market penetration and market share.
Auto Financing Company oriented to the needs of people in the field of creditCarrying the vision To Be The Most Progressive and Reliable Multifinance in Indonesia, the Company demonstrated its ability to commit to meeting the credit needs of the community aimed at the welfare of the nation through strategic concept in developing the company’s always more advanced and better every year.
Best Performance and Our InnovationSpeed in a company’s business activity is closely related to productivity. Our focus is to improve the quality and professionalism of human resources which are being the key to achieve the best performance targets accompanied by innovations that we did.
In terms of human resource management, the Company made steps to realize and establish the best human resources, among others by organizing courses Management Development Program (MDP) and the Management Trainee, these programs are an education and training program to attract the best candidates in the Company’s internal and increasing competence human resources to be the Future Leaders of the Company which have a high loyalty as well as the capability to be expected. In addition, the Company also repairs and improvement of systems and operational procedures, uphold the culture of Officers of the Company, improve the quality of credit to lower non-performing loan (NPL) as well as make efforts to minimize fraud. As a business entity finances growing, Mandiri Tunas Finance offers innovations as a business advantage in the increased thereby increasing the frequency, quality and affordability of care.
Together with technological excellence, innovation became apparent usher Mandiri Tunas Finance realize the excellent service.
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1989Company establishment with name PT Tunas Financindo Corporation
1995Company open 2 (two) branch offices, there are Bandung and Bogor
1997Company open 5 (five) branch offices, there are Bekasi, Tangerang, Surabaya, Depok and Semarang
2004 2006Company open 8 (eight) branch offices, there are Kelapa Gading (North Jakarta), Tasikmalaya, Medan, Tanjung Duren (West Jakarta), Surabaya I, Balikpapan, Samarinda and Makassar
Company open 9(nine) branch offices, there are Metro (Lampung), Tulang Bawang (Lampung), Tanggamus (Lampung), Palembang, Pekanbaru, Fatmawati (South Jakarta), Matraman (East Jakarta), Purwokerto, and Banjarmasin
» The Company opened 5 new Branch offices in Sintang, Sampit, Mamuju, Kotamobagu, and Kupang, and 20 Satellite operations in branch offices of Bank Mandiri.
» The Company achieved 10 Indonesia Multifinance Award 2015 from Business Review Magazine, among other is The Best of Multfinance Indonesia 2015.
» The Company achieved award as “Excellent Company” in Good Corporate Governance (GCG) 2015 – Indonesia Good Corporate Governance Award (IGCGA) 2015.
» The Company achieved award for category of Car Leasing “Silver Award” 2015 – Indonesia WOW Brand 2015.
» The Company achieved award for category of Multifinance with Assets of Rp5 trillion to 10 trillion with “EXCELLENT” predicate – Infobank Multifinance Award 2015.
» CEO of the Company achieved award as Figure of Finance 2015 for Multifinance Company category – Investor Award Magazine 2015.
» The Company achieved award as Indonesia Trusted Companies – Indonesia Most Trusted Companies Award GCG SWA 2015.
»» Expansion of the Regional Office from 6 to 9 Regional Offices.
»» The company opened 11 (eleven) New Branch Offices namely in Ujung Batu (Riau), Tanjung Pinang (Kep, Riau), Bontang (East Kalimantan), Cibinong (West Java), Rangkasbitung (Banten), Cikarang (West Java), Garut (West Java), Pekalongan (Central Java), Subang (West Java), Gresik (East Java) and Mojokerto (East Java).
»» The company received 9 awards Indonesia Multifnance Award 2014 from Business Review Magazine as:
• Best 1st Overall • Best 1st Non-Listed Company with asset> Rp5 T • Best 1st GCG • Best 1st Finance • Best 1st Information Technology • Best 2nd CSR • Best 2nd Risk Management • Best 3rd Human Capital • The Best CEO
»» The company received an award as one of Multifnance company which is categorized as “Very Good” from Infobank magazine in Infobank Multifinance Award 2014 event.
»» The company was awarded as “Trusted Company” in the implementation of Good Corporate Governance from Swadan The Indonesian Institute for Corporate Governance (IICG) Magazine.
Milestones
20152016
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2007 2008 2009 2010 2011The Company opened 2 (two) Branch Offices in Kotabumi (Lampung) and Kalianda (Lampung)
The Company opened 1 (one) new Branch Office in Jambi»» The Company received
Investor Awards as the Best Multifinance Company in 2008 for the Asset Category of Rp2 trillion - Rp4 trillion
51% of shares of the Company were acquired by Bank Mandiri (Persero) Tbk»» The change of the name
of the Company to PT Mandiri Tunas Finance
»» The relocation of the Company’s Head Office to Graha Mandiri 3A Floor, Jl. Imam Bonjol No. 61, Jakarta 10310
The Company opened 13 (thirteen) new Branch Offices in Bumi Serpong Damai (Tangerang), Pecenongan (Central Jakarta), Denpasar,Pontianak, Kendari, Palangkaraya, Parepare (South Sulawesi), Karawang, Tarakan (East Kalimantan), Kediri, Tegal, Bengkulu, and Manado
The Company opened 9 (nine) new Branch Offices in Batam (Riau Islands), Bukittinggi (West Sumatera), Duri (Riau), Baturaja (South Sumatera), Lubuklinggau (West Sumatera), Cibubur (West Java), Bandarjaya (Lampung), Banjarbaru (South Kalimantan), and Tangerang 2 (Banten)» The Company received Indonesia
Multifinance Award 2013 as “The Best of Good Corporate Governance for Multifinance Indonesia 2013” from Business Review Magazine
» The Company received Anugerah Business Review 2013 award from Business Review Magazine as:
• The 3rd Best Non Listed Company of the Year 2013 • The 3rd Best Finance Performance of the Year 2013 • The 4th Best Human Capital of the Year • The 5th Best Corporation for Risk Management of the Year 2013
The expansion of 6 Regional Offices to 9 Regional Offices.» The Company opened 11 (eleven) new Branch
Offices in Ujung Batu (Riau), Tanjung Pinang (Riau Islands), Bontang (East Kalimantan), Cibinong (West Java), Rangkasbitung (Banten), Cikarang (West Java), Garut (West Java) Pekalongan (Central Java), Subang (West Java), Gresik (East Java), and Mojokerto (East Java).
» The Company received 9 Indonesia Multifinance Award 2014 from Business Review Magazine as:• Best 1st Overall• Best 1st Non Listed Company with asset > Rp5 T• Best 1st GCG• Best 1st Finance• Best 1st Information Technology• Best 2nd CSR• Best 2nd Risk Management• Best 3rd Human Capital• The Best CEO
» The Company received an award as one of Multifinance with the category of “Very Good” from Infobank Magazine in the event of Infobank Multifinance Award 2014
» The company received an award as “Trusted Company” on the implementation of Good Corporate Governance from SWA Magazine and The Indonesian Institute for Corporate Governance (IICG).
PT Fitch Ratings Indonesia determined the Company with the rank of AA (idn); Stable Outlook
» PT Pemeringkat Efek Indonesia (PEFINDO) upgraded the Company’s rank along with the debenture Bond IV Series B, Series C, and Series D in 2011 which was originally in the rank of A+ (Single A Plus; Stable Outlook) into id AA (Double A; Stable Outlook)
» The Company was able to achieve all strategic initiatives as required by the majority shareholder, namely the achievement of market share target, revenue target and net profit target.
The Company opened 22 (twenty-two) new Branch Offices in Rantau Prapat (North Sumatera), Muara Bungo (Jambi), Padang, Pangkal Pinang, Banda Aceh, Sukabumi, Serang, Pondok Gede, Mampang Prapatan (South Jakarta), Kebon Jeruk (West Jakarta), Tuban, Tanjung (South Kalimantan), Palu, Madiun, Jember, Gianyar, Kudus, Magelang, Mataram, Gorontalo, Bandung 2, and WTC Mangga Dua (North Jakarta)»» The Company was awarded rank III of Digital
Multifinance Brand from Infobank Magazine in the event of Infobank Digital Brand of The year 2011
201220132014
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Vision, Mission and Corporate Value
Vision
Mission• Fullfillment society credit-oriented for the
nation welfare• Giving advantage and optimum benefits for
stakeholders• Building a professional and unyielding human
resources trough PERWIRA work culture• Being a fun institution and proud to perform
their best work
To Be The MostProgressive and ReliableMultifinance in Indonesia
Corporate ValueCompany work culture that always held in
high esteem by all employees is PERWIRA, which is abbreviation for kePErcayaan (trust), keWIRanusahaan (entrepreneurship) and kegembiRAan (excitement). These 3 (three) of the basic values contained 9 (nine) key behaviors that should be implemented consistently and sustainably by each employees.
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Corporate Value
Each employee must uphold the value of:Being honest and trustworthy Being Responsible Being Committed
Budaya PERWIRA
PERWIRA culture formulated and confirmed as the work culture of the Company on December 11, 2009 in Bandung. Company continuously to emphasize to every employee to uphold and be consistent in implementing the PERWIRA corporate culture in their daily work activities. PERWIRA work culture was originally formulated by employees and subsequently accepted by the Company as a work culture that guide the thinking and behavior of each employee.
The company received “The 1st Best Subsidiaries Culture Execution Award” from Bank Mandiri for 3 years consecutively since 2013 to 2015 on “Mandiri Excellent Award” which is an award in the implementation of the work culture in the Bank Mandiri’s subsidiary neighborhood.
Vision, Mission, and Company Values formulated already known and approved by the Board of Commissioners and Board of Directors.
Every employee is required to have:Sense of belongingProfessionalismFocus To Customer
Each employee should work:Enthusiastically, tenaciously and no giving upIn synergyHappily
KePERcayaanTrust
KeWIrausahaanEntrepreneurship
ExcitementKegembiRAan
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Company Core Business
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Products or services produced in the form of automotive financing, both to retail and corporate customers in the form of consumer financing and leasing.
Business Activities
ased on the Articles of Association, the Company’s business activities engaged in financing institutions, in which to achieve its goals and objectives, Company may carry out business activities of investment financing, working capital financing, multipurpose financing, and other financing business activities based on the approval of the Financial Services Authority. Currently, the Company is conducting consumers financing, leasing and multipurpose financing for education.
In conducting its business, the Company has obtained a permit to conduct business activities in the field of financing of the Minister of Finance of the Republic of Indonesia based on Decree No.1021/KMK.13/1989 dated September 7 1989 which was amended by Decree No. 54/KMK-013/1992 dated January 15, 1992 and No. 19/KMK.017/2001 dated January 19, 2001 and last amended by No. KEP-352/KM.10/2009 dated September 29 2009.
In accordance with the Financial Services Authority Regulation No. 29/POJK.05/2014 on the Implementation of the Business Financing, the Company has made changes in the constitution on April 13, 2015, among others adjust the purposes and objectives of the Company in accordance with the type of business activities Financing Company.
Products and Services
Products or services provided is automotive financing, both to retail and corporate customers in the form of consumer financing and leasing. The type of vehicle which funded include new cars, used cars, motorcycles, commercial vehicles, and heavy equipment.
In addition, the Company also lending/financing to prospective student/customer for multipurpose educational needs, with the assurance of vehicle ownership documents, which the repayment of tuition fees will be made by the Company to third parties (education institutions). In 2016, a multipurpose financing disbursed by the Company no longer limited only in education but expanded according to the needs of consumers.
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Organization Structure
Organization StructurePT. Mandiri Tunas Finance
PRESIDENT DIRECTOR
DIRECTOR
CORPORATESECRETARY &
LEGAL COMPLIANCE
STRATEGIC PARTNER & MARKETING
COMMUNICATION
REGIONAL I-IX
FINANCE & ACCOUNTING
RISK MANAGEMENT
MANDIRI KKB
MULTIPURPOSE FINANCING
DIRECTOR
INTERNAL AUDIT
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CREDIT MANAGEMENT BUSINESS EXCELLENCEMANAGEMENT
MARKETING & PRODUCT DEVELOPMENT
AR MANAGEMENT
SPECIAL ACCOUNT
MANAGEMENTHUMAN CAPITALGENERAL AFFAIRS &
BRANCH SUPPORT
CORPORATE FLEET
DEPUTY DIRECTOR DEPUTY DIRECTOR
UKPN
DEPUTY DIRECTOR
INFORMATION TECHNOLOGY
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Management and Senior Officers
Anton Setiawan :Sarastri Baskoro :Hanifah Purnama :
President CommissionerCommissionerIndependent Commissioner
KetuaMemberMember
HeadMemberMember(ex officio)
HeadMemberMember and Committee’s Secretary
*) Served until October 31 2016
*) Resigned at August 15, 2016 and approved by GMS on September 30, 2016**) Appointed based on shareholder’s decision as of September 30 2016
President DirectorDirectorDirectorDirector
Deputi DirectorDeputi DirectorDeputi Director
Ignatius Susatyo Wijoyo :Ade Cahyo Nugroho* :Arya Suprihadi** :Harjanto Tjitohardjojo :
Hanifah Purnama :Rodion Wikanto Njotowidjojo :Sunardi Edirianto :
Hanifah Purnama :Sarastri Baskoro :RM. Indra Wardhana :
Hanifah Purnama :Sarastri Baskoro :Nenny Lasmanawati* :
Albertus Henditrianto :Bonifatius Perana Citra Ketaren :William Francis Indra :
Board of Commissioner
Audit Committee
Nomination & Remuneration Committee
Risk Monitoring Committee
Board of Director
Deputi Director
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I Ketut Suwitra :Dadan Suhendar :Imron :Erick Tandayu :Sukandar :Puji Biso Santoso :Bragent Parlinggoman Tambunan :Ari Paisal Rohman :Mardi Fahmi :Julius Subagyo :Dayu Rasmini :Nenny Lasmanawati* :Tan Rina :RM. Indra Wardhana :Ramdhan Safitri :Ivan Ferdinand Thanta :Citra Judith Lupitadevi :Afri Feder Fauzi :A Tatep Fathurohman :Wawan Yuliyanto :Andre Tigor :Priyono Teddi Utama :Kanda Octaviano :Laurensius Purba :Vivid Zulprimiadanni :
Regional Manager Region 1Regional Manager Region 2Regional Manager Region 3Regional Manager Region 4Regional Manager Region 5Regional Manager Region 6Regional Manager Region 7Regional Manager Region 8Regional Manager Region 9Corporate Fleet Head DivisionInternal Audit Head DivisionCorporate Secretary & Legal Compliance Head DivisionGeneral Affair & Branch Support Head DivisionRisk Management Head DivisionFinance & Accounting Head DivisionCredit Management Head DivisionBusiness Excellence Management Head DivisionMarketing & Product Development Head DivisionAR Management Head DivisionStrategic Partner & Marketing Communication Head DivisionKKB Mandiri Head DivisionMultifunction Credit Head DivisionTechnology & Information Head DivisionSpecial Account Management Head DivisionHuman Capital Head Division
Senior management
*) Served since 1 November 2016
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Board of Commissioners Report
“The Board of Commissioners fully supports the efforts of Board of Directors to continue to boost the implementation of GCG that can provide added value to shareholder and
other stakeholders “
Dear Stakeholders,Thank God, we as the Board of Commissioners can provide execution reports stewardship PT Mandiri Tunas Finance, hereinafter called the MTF or the Company. Let us, the Board of Commissioner expressed the MTF performance in 2016 with a satisfactory achievement. This performance is expected to continue to be a milestone in achieving the goals MTF in 2017. The Board of Commissioners appreciates the efforts of management to continue to take advantage of the business opportunities, the implementation of appropriate strategies and important operational decision-making speed.
Corporate Performance Assessment 2016In 2016, Company performance recorded comprehensive income Rp335 billion increase from the previous year by 9.3% compared to 2015 amounted to Rp307 billion. This increase is a result of the achievement of company performance can be seen from the segment operating income in the statement of profit and loss that virtually all segments have increased.
The company’s performance is a special achievement, considering in 2016 the industrial growth slowed further financing as was the case in 2015. Industry data per December 2016 showed total assets of the finance company industry experienced a positive growth of 4% (year-on-year/yoy ) became Rp442,77 trillion. Meanwhile, receivables financing reached Rp387, 50 trillion, up by 6.6% (y-o-y) compared receivable at December 2015.
Growth in assets and receivables of Multifinance industry for the first time this year simultaneously negative values simultaneously shown in May. Previously for many years experienced positive growth. But the quality of financing receivables in December 2016 is still well preserved, where the value of Net Non Performing Financing stood at 3.26%. It shows the growth of assets and receivables financing since June 2016 already showed a positive growth trend.
Top view of Business ProspectsExplore strategies for enterprise precise and accurate decision making prudent and responsible, MTF can continue to grow and develop in the future to meet the challenges and exploit the opportunities that exist. With a market share that is still wide open, financial performance and its competitive advantage, the Board is optimistic MTF can realize its vision To Be The Most Progressive and Reliable Multifnance in Indonesia. BOC argued that the Board of Directors needs to improve and enhance marketing strategies applied, through a variety of efforts to optimize the business in collaboration and synergy with various parties, the construction of commercial centers and optimizing the Information Technology infrastructure in a sustainable improvement of customer services. The Board of Commissioners considered that the efforts undertaken by Directors and all employees can achieve business opportunity is still wide open as to the growth of people’s lifestyles and the growth potential of business and economics are improving.
Moreover, in addressing the challenges faced in the future according to the BoC is right and needs to be improved so that it becomes an important part in the overall corporate strategy. Business development is done through various programs such as the opening of the new network, especially in eastern Indonesia, increased synergies with Bank Mandiri, marketing products through telemarketing team and the development of other financial products. Furthermore, company also conducted increasing productivity and service to customer.
Governance and Committee Performance Assessment oard of Commissioner believes that the commitment of Directors in implementing good corporate governance (GCG), has been part of the management of the Company through the implementation of a
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Jakarta, March 16, 2017On Behalf of the Board of
Commissioners
Anton SetiawanPresident Commissioner
system that reflects the principles of information transparency, accountability, equality and responsibility. The Board of Commissioners fully supports the efforts of Board of Directors to continue to boost the implementation of GCG that can provide added value for our shareholders and all other stakeholders. Basically, during 2016 the Board of Commissioners has been carrying out the functions of supervision and counseling to ensure the Board of Directors comply with laws and regulations applicable to both associated with the regulation of the financial sector, giving opinions, suggestions and recommendations to the Board of Directors and all the officials on the achievement of the goals and objectives of the Company through the mechanism a coordination meeting with the Board of Directors and report the results of monitoring of the performance of the Board of Directors to the Shareholders through General meeting of Shareholders forums (GMS).
In line with the applicable regulatory development then the corporate governance will continue to be improved both in terms of scope and depth of implementation in line with the increase of transparency, accountability, responsibility, independence and fair conducted by the Company.
In 2016, MTF plans to carry out a GCG assessment. The results of these assessments will be a cornerstone of the application at the same time improving the implementation of GCG in the future.
In improving job effectiveness and responsibilities, the Board of Commissioner assisted by the Audit Committee and Risk Management Committee also Remuneration and Nomination Committee. The Board of Commissioners considered that the three committees have done their job well. This is evident from the various meetings held by the three committees and the various reports received by the Board of Commissioners. Board of Commissioner hopes that a third of this committee can continue to maintain the performance to be better in the future.
Changes of Board of Commissioner CompositionIn 2016, there is none of changes of the board of Commissioner composition
Thank you noteFinally, on behalf of the Board of Commissioners, I would like to thank the shareholders on all the support given, and to the board of Directors and the management underneath and all employees for their hard work during the 2016.
Our appreciation also goes to all customers, business partners and business partners achievement considering all the Company in 2016 can not be separated from the role and contribution that has been given.
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Dear Stakeholders,Praise to the presence of God Almighty, thanks to the hard work of all levels of the Company, PT Mandiri Tunas Finance hereinafter called “MTF” or the “Company” recorded again an encouraging performance for the year ended December 31, 2016.
Performance MTF 2016 general achieving good results. It can be seen from the results of the Company’s performance higher than the realization in 2015 and 2016 exceeded the target RKAP.
Performance in 2016In 2016, performance of the Company recorded comprehensive income Rp332 billion increase from the previous year by 10% compared to 2015 amounting to Rp301 billion. This increase is a result of the achievement of company performance can be seen from the segment operating income in the statement of profit and loss that virtually all segments have increased.
Financial review is based on the Company’s Financial Statements for the year ended December 31, 2016. The Financial Statements have been audited by Purwantono, Sungkoro & Surja with unqualified opinion.
The position on December 31, 2016, total assets of the Company reached Rp11 trillion, an increase of 24% compared to 2015 which only amounted to Rp 9 trillion. The increase was caused by rising consumer financing receivables portfolio by 11%, valued at Rp1.78 trillion, which is one indicator of the growing achievements of the company’s operating performance.
Liability Company increased by 24% from Rp 8 trillion in 2015 to Rp9.9 trillion in 2016, an increase of Rp 1.8 trillion in 2016. The increase was largely attributable to the increased portfolio of securities issued which amounted to Rp1.8 trillion in 2015 increased by 80% or an increase of Rp 1.4 trillion into Rp 3.3 trillion in 2016.
Throughout the year 2016, the Company has conducted Sustainable Public Offering Bond II Mandiri Tunas Finance phase II with fixed rate with a principal amount of Rp1.400.000.000.000 (one trillion four hundred billion Rupiah) with a maximum period of 5 years and Bonds sustainable III Mandiri Tunas Finance phase I of fixed rate bonds with a principal amount of Rp500,000,000,000 (five hundred billion Rupiah) with a maximum period of 5 years.
The Company’s equity increased by 26% during 2016, an increase of Rp301 billion which in 2015 amounted to 1.17 trillion into Rp1.47 trillion. In addition the Company recorded income in 2016 amounted to Rp335 billion. Net income increase by 9% from the previous year, 2015, which amounted to only Rp306 billion. This increase is supported by the company’s revenue increased by 23% from last year’s revenue portfolio.
Constraints in 20162016 was a challenging year for MTF, where there are a number of constraints faced by MTF include:• An increase in vehicle registration fees, BPKB and
othersThe government through the Indonesian National Police implement new tariffs issuance and maintenance of Vehicle registration number and the Motor Vehicle Owners Books (BPKB)
• Regulation of restrictions on acquisition costs SE OJK No.1/seojk.05/2016 about the financial soundness of finance company states that “Expenditure on acquisition-related incentive third party financing per the financing agreement is capped at 15% (fifteen percent) of the revenue associated with financing, inclusive income tax third party in it “.
• Rise in fuel prices The price of fuel oil (BBM) non-subsidized, such as
Pertamax, Pertalite, and Pertamina Dex increased in mid December 2016.
• Relaxation Financing DP Relaxation financing DP up to 5% according FSA
SE No.47/seojk.05/2016 regarding the size of the down payment for the motor vehicle finance company.
Board of Directors Report
‘’We believe that MTF will continue to grow into a leading financial services company, professional and became the Indonesia’s pride.’’
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Prospects for 2016Using industry analysis, business prospects of the Company in 2017 will be good. Seen from the track record of the last few years the company can consistently experienced growth in terms of revenue to net income amid industry conditions multi finance erratic and got down to the last period, according to industry data per December 2016 show total asset finance company industry experienced a positive growth of 4% (year-on-year/yoy) become Rp442,77 trillion.
Supported by national economic growth projections which are better in 2017. So is the belief in the rise in coal prices and the domestic demand recovery from China to major commodities necessary to support the infrastructure. For 2017 will give a positive impact on the finance industry.
Asset growth conditions and financing receivables since June 2016 for the finance industry already showing the trend of positive growth, the quality of financing receivables in December 2016 is still well preserved, where the value of Non-Performing Financing Netto still listed amounting to 3.26%. As well as many local governments have shown seriousness in encouraging the development of small, micro and medium enterprises through establishment SME Center and the establishment of the Regional Financial Acceleration (TPAKD), as well as through the provision of policy into a revolving fund opportunities for the industry.
Human Resources DevelopmentMTF has a high commitment to always provide fair and equal treatment for all employees. MTF provide equal opportunities for all employees to develop themselves and show the best potential for the organization.
To achieve its vision and mission, MTF has been strengthening the organization among others by restructuring and cultural transformation. In addition, as part of MTF’s commitment to improving the quality of human resources in a sustainable manner, MTF ask the employees attended variety of training. To increase the capacity and competence of human resources. MTF provide equal opportunities for all employees to develop themselves and show the best
potential for the organization regardless of gender, ethnicity, religion, race and class.
Implementation of Corporate GovernanceMTF understand that good corporate governance is a standard reference that is required to be applied as an operational basis for the company’s business activities. In the long term, the implementation of GCG have relevance to the performance of a company because the ultimate value of GCG implementation was to improve performance (high performance) as well as a good corporate image.
GCG actualization in MTF conducted at all levels of the organization with reference to the terms and conditions associated with GCG implementation for the company. Optimization of the MTF GCG implementation continues to be done by strengthening the infrastructure to achieve best practice, adjustment systems and procedures necessary to support the implementation of GCG increasingly effective.
In order to get a picture of the condition of the GCG implementation of the best practices is the reference as well as to identify areas that require improvement (areas of improvement) to the Guidelines for the Implementation of GCG, 2016 MTF plan every two years to implement Assessment of the implementation of GCG.
In 2016, MTF participated on the CGPI Award event which is earned as a “Trusted Company”. MTF routinely make campaign Gratification Control Program and Whistleblowing System.
This is intended to strengthen the implementation of GCG in order to become part of the culture MTF. In addition, socialization and internalization Code of Conduct continuously done, not only to the internal MTF, but also to other stakeholders.
Corporate Social Responsibility (CSR)In line with MTF’s mission in order to provide optimal benefits to shareholders, business partners, employees, society and the environment to adhere to business ethics, then MTF aware of the importance of cooperation between the company, the community
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Jakarta, 16 Maret 2017Atas Nama Direksi
Ignatius Susatyo WijoyoDirektur Utama
and the environment. MTF realize there for the community and for the community, therefore some of the benefits the Company will be returned to the community as a form of corporate social responsibility. Corporate social responsibility is directed to overcome, reduce social problems, digging resources, and seek to foster behavioral change and tackling the public welfare so finally created their sustainable harmony between the MTF and the public.
Board of Director Composition ChangesIn 2016, there is a change in the composition of the Board of Directors. Mr. Ade Cahyo Nugroho was replaced by Mr. Arya Suprihadi. This change is due to the policy of Shareholders. To Mr. Cahyo Nugroho Ade, we would like to thank the contributions made in the course joined the Board of Directors. To Mr. Arya Suprihadi, we welcome and congratulations joined the Board of Directors. Associated with this change in the composition of the Board of Directors, the Board of Directors has been implementing recognition programs carried out during internal meetings of Directors and other company events.
Thank-you noteOn behalf of the Board of Directors, we would like to thank and give the highest appreciation to the Shareholders and the Board of Commissioners of MTF for guidance and coaching has been given. Not to mention we thank and appreciation to customers, business partners and other stakeholders for their support and the trust that has been given. Finally, we would like to thank all employees for their dedication, loyalty is high, the spirit of togetherness and hard work and the desire to provide the best for MTF, now and in the years to come.
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Statement Letter of the Board of Commissioners and Board of Directors of Responsibility on Annual Report and Consolidated Financial Statement 2016 PT Mandiri Tunas Finance
We, the undersigned declare that all information in the Annual Report of PT Mandiri Tunas Finance 2016 is complete and we are fully responsible for the accuracy of the contents of the Annual Report and the Consolidated Financial Statements PT Mandiri Tunas Finance.
This statement was made with actual event.
Jakarta, March 16, 2017
Hanifah PurnamaIndependent Commissioner
Board of Commissioner,
Anton SetiawanPresident Commissioner Sarastri Baskoro
Commissioner
Harjanto TjitohardjojoDirector
Board of Director,
Ignatius Susatyo WijoyoPresident Director
Arya SuprihadiDirector
Responsibility of Members of Board of Commissioners and Board of Directors of the 2016 Annual Report and 2016 Consolidated Financial Report
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Anton SetiawanPresident Commissioner
Hanifah PurnamaIndependent Commissioner
Sarastri Baskoro Commissioner
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Board of Commissioner Profile
An Indonesian citizen, born in Jakarta, February 23, 1946, 70 years old, domiciled in Central Jakarta, DKI Jakarta, Indonesia. Alumnus of the Faculty of Economics Department of Economics University of Nusantara, Jakarta (1970). Visible leadership capabilities of a wide range of experience in setting up the Tunas Ridean group, among others PT Tunas Mobilindo Parama, Tunas Ridean Tbk and PT Mandiri Tunas Finance as well as experience as a Commissioner and the President Commissioner in various companies.
Appointed as a President Commissioner of the Company since 2010 until today. He previously served as a Member of the Board of Commissioners (2009-2010). He currently serves as an Independent Commissioner of PT Metropolitan Kentjana Tbk (2009-present), President Commissioner of PT Tunas Ridean Tbk (2010-present), President Commissioner of PT Tunas Dwipa Matra (2005-present), President Commissioner of PT Surya Sudeco (2005-present ), President Commissioner of PT Surya Mobil Megahtama (2005-present), President Commissioner of PT Tunas Andalan Pratama (2004-present), President Commissioner of PT Tunas Asset Sarana (2002-present), President Commissioner of PT Tunas Mobilindo Parama (1997-present), President Commissioner of PT Tunas Mobilindo Perkasa (1997-present), President Commissioner of PT Tunas Tbk (2010-present) and President Commissioner of PT Prog Ekalancar (2012-present).
He had served as President Director of PT Tunas Tbk (1994-2010). In 2006, awarded the Ernst & Young Indonesia Entrepreneur of The Year 2006 for Lifetime Achievement Award Category.
Basic Appointment:He was initially appointed as a President Commissioner of the Company, based on the Deed of Minutes of Annual General Meeting of Shareholders No. 59 dated June 29, 2010 prepared by Emi Susilowati, SH, a Notary in Jakarta, with a term of office until February 6, 2012 and reappointed as the President Commissioner of the Company based on the Deed of Mintues of the General Meeting of Shareholders No.01 dated February 6, 2012, prepared by Emi Susilowati, SH, Notary in Jakarta, with a term of office until the closing of the General Meeting of Shareholders (AGM) 2017.
Training has been followed:
Anton SetiawanPresident Commissioner
Activities Description
Had attended Tax Training Service Regarding Tax Amnesty seminar
29 Agustus 2016, Jakarta PT Multi Utama Consultindo
Had attended Conductive Government Policies Supporting Promising Economic Development seminar
30 Agustus 2016, Jakarta Asosiasi Perusahaan Pembiayaan Indonesia (APPI)
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Sarastri Baskoro Commissioner
Activity Description
Attended “Supporting More Dynamic of “ National Seminar
27 Mei 2016 Yogyakarta Asosiasi Perusahaan Pembiayaan Indonesia (APPI)
Attended Tax Training Service Regarding Tax Amnesty seminar
29 Agustus 2016 Jakarta PT Multi Utama Consultindo
Executive Program Risk Management Certified
20 Oktober 2016 Badan Sertifikasi Manajemen Resiko (BSMR)
An Indonesian citizen, born in Jakarta, September 14 1960, 56 years old, domiciled in South Jakarta, Jakarta, Indonesia.
She graduated her bachelor degree at York University, Canada (1983) and Post Graduate Magister Banking and Finance at Monash University, Australia (1995).
She has served as a Commissioner since 2010 until today. She previously served as President Commissioner of the Company (2009-2010). She also served as Executive Vice President of Consumer Loans Group PT Bank Mandiri (Persero) Tbk (2000 - January 2016).
She has served as Consumer Banking Director of PT Bank Papan Sejahtera (1996-1997) and Assistant Vice President Credit Cycle Head Citibank Card Centre (1983-1991).
Basic Appointment:She was initially appointed as Commissioner, based on the Deed of Minutes of Annual General Meeting of Shareholders No.59 dated June 29, 2010 prepared by Emi Susilowati, SH, Notary in Jakarta, with a term of office until February 6, 2012 and was reappointed as
Commissioner of the Company based on the Deed of Minutes of Company’s Shareholders Decision Outside the General Meeting of Shareholders No. 01 dated February 6, 2012, prepared by Emi Susilowati, SH, Notary in Jakarta, with a term of office until the closing of the Annual General Meeting of Shareholders (AGM) in 2017.
Training has been following:
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Hanifah PurnamaIndependent Commissioner
An Indonesian citizen, born in Jakarta, October 10, 1961, 55 years old, domiciled in South Jakarta, Jakarta, Indonesia.
Graduated from the University of Southern California, Los Angeles, with a Bachelor of Science in Electrical Engineering, in 1984 and Master of the Business Administration at California State Polytechnic University, Pomona, in 1987, both in the United States.
Appointed as Independent Commissioner and Chairman of the Audit Committee since 2009 until present.
He had served as General Manager of PT International Master Development Plan (2009-2011), Independent Commissioner of PT Tunas Financindo Sarana (2005-2008), Vice President of Treasury Operations HSBC Indonesia Management Office (2002-2003), Operations and Credit Manager PT HSBC Securities Indonesia (2000-2001), Director of Operations and Finance in PT Kharisma Bank (1991-1998), General Manager of PT Tritunggal Duta Perkasa (1990), Cost Analyst Electronic Plating Service, Inc. (1988-1989), in Gardena, United States. Started his career as a Credit Analyst Wells Fargo Bank N.A Commercial Banking Group (1987-1988), in Los Angeles, United States.
Basic Appointment:He was initially appointed as an Independent Commissioner of the Company, based on the Deed of Minutes of the Annual General Meeting of Shareholders No. 59 dated June 29, 2010 prepared by Emi Susilowati, SH, Notary in Jakarta, with a term of office until February 6, 2012 and reappointed Commissioners based on the Deed of Minutes of Company Shareholders Outside the General Meeting of Shareholders No. 01 dated February 6, 2012, prepared by Emi Susilowati, SH, Notary in Jakarta, with a term of office until the closing of the General Meeting of Shareholders (AGM) in 2017.
Training has been followed :
Activity Description
Attended Tax Training Service Regarding Tax Amnesty seminar
29 Agustus 2016 Jakarta PT Multi Utama Consultindo
Attended Tax Training Service Regarding Tax Amnesty seminar
30 Agustus 2016 Jakarta Asosiasi Perusahaan Pembiayaan Indonesia (APPI)
Executive Program Risk Management Certified
20 Oktober 2016 Jakarta Badan Sertifikasi Manajemen Resiko (BSMR)
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1. Ignatius Susatyo Wijoyo, President Director
2. William Francis Indra, Deputy Director
3. Arya Suprihadi, Director
4. Perana Citra Ketaren, Deputy Director
5. Harjanto Tjitohardjojo, Director
6. Albertus Henditrianto, Deputy Director
From the left to the right
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Profile of Board of Directors
An Indonesian citizen, born in Yogyakarta on March 23, 1969, 47 years olf, domiciled in Bekasi, West Java, Indonesia. He holds Bachelor Degree from the Faculty of Economics, Department of Management, University of Gadjah Mada, Yogyakarta (1993) and Master Degree of International Management in Prasetya Mulya (2006).
He has been serving as a President Director of the Company since 2010 until today. Joined the Company as Director of the Company (2009-2010). He previously served as Senior General Manager Recovery Asset Management Division & Recovery Division at PT Adira Dinamika Multifinance (2006-2009), Operation Division Head of PT Astra Sedaya Finance (2005), Collection & Remedial Division Head of PT Astra Sedaya Finance (2004-2005), Collection Java Area Manager PT Astra Sedaya Finance (2004), Branch Manager Kelapa Gading PT Astra Sedaya Finance (2002-2003), Service And Collection Head Fleet PT Astra Sedaya Finance (2000-2001), Head Collection Surabaya branch of PT Astra Sedaya Finance ( 1998-1999), Representative Office Head Tangerang PT Astra Sedaya Finance (1997), Treasury Assistant Manager PT Astra Sedaya Finance (1995-1996), Finance Officer PT Astra International (1994) and began his career as a Management Trainee at PT Toyota Astra Motor (1993).
He was initially appointed as a President Director of the Company, based on the Deed of Minutes of Annual General Meeting of Shareholders No. 59 dated
June 29, 2010, prepared by Emi Susilowati, SH, Notary in Jakarta, with a term of office until February 6, 2012and was reappointed as a Director of the Company pursuant to the Deed of Minutes of Company’s Shareholders Decision Outside the General Meeting of Shareholders No.01 dated February 6, 2012, prepared by Emi Susilowati, SH, Notary in Jakarta, with a term of office until the closing of the Annual General Meeting of Shareholders (AGM ) in 2017.
He is also active as a lecturer at the Indonesian Financial Services Association and PT Sertifikasi Profesi Pembiayaan Indonesia (SPPI.
Training has been followed :
Activity DescriptionAttended International Seminar with theme "Welcoming The New Era of Multifinance Industry"
18 Maret 2016 Ballroom Mariott Courtyard Hotel, Nusa Dua - Bali Asosiasi Perusahaan Pembiayaan Indonesia (APPI)
Attended “Tax Training Service Regarding Tax Amnesty” seminar
29 Agustus 2016Jakarta PT Multi Utama Consultindo
Executive Program Risk Management Certified
20 Oktober 2016 Jakarta Badan Sertifikasi Manajemen Resiko (BSMR)
Challenges Opportunity Seminar 2017
6 Desember 2016Jakarta Asosiasi Perusahaan Pembiayaan Indonesia (APPI)
Ignatius Susatyo WijoyoPresident Director
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An Indonesian citizen, born in Jakarta, June 12, 1968, 47 years old, domiciled in South Jakarta, DKI Jakarta, Indonesia. He holds bachelor degree at the Faculty of Economics, Department of Management, University of Krida Wacana, Jakarta (1991). Joined the Company in 2010 as Director of the Company. He has served as Vice President Tunas Toyota (2006-2010), Operation Director of Tunas Toyota (2004- 2006), Operation Manager Tunas Toyota (2000-2004), Head of Branch some dealers Tunas Toyota (1995-2000) and Sales Manager of Toyota Astra International (1994-1995). Started his career as a Sales Supervisor Auto 2000 (1993-1994).
Initially, he was appointed as the Director of the Company, based on the Deed of Minutes of Annyal General Meeting of Shareholders No. 59 dated June 29, 2010, prepared by Emi Susilowati, SH, Notary in Jakarta.
with a term of office until the closing of the General Meeting of Shareholders ( AGM) in 2015 and reappointed as a Director of the Company pursuant to the Deed of Minutes of Annual General Meeting No. 29 on 13 April 2015, prepared by Lenny Janis Ishak, SH, Notary in Jakarta, with a term of office until the closing of the General Meeting of Shareholders (AGM) in 2018.
Training has been followed :
Activities Description
Attended National Seminar on Supporting a More Dynamic Business Development Initiatives
27 Mei 2016Yogyakarta Asosiasi Perusahaan Pembiayaan Indonesia (APPI)
Attended Tax Training Service Regarding Tax Amnesty Seminar
29 Agustus 2016Jakarta PT Multi Utama Consultindo
Harjanto TjitohardjojoDirector
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An Indonesian citizen, Born in Surabaya at February 17, 1971, 46 years old, domiciled in South Jakarta. He holds bachelor degree graduated from the Faculty of Civil Engineering, University of Indonesia and a Master of Science in Finance and a Master of Business Administration from the University of Colorado, Denver, USA.
Served as Deputy Director of the Company since September 2016 until today. He joined the company as a Deputy Director since May 2016. He has held various positions in PT Bank Mandiri (Persero) Tbk such as SVP - Group Head Corporate Banking VII (January 2015 - May 2016), SVP - Head of Region Kalimantan (July 2013 - December 2014), VP - Deputy Office of Makassar (April 2012 - June 2013), VP Area Manager Makassar (July 2011 - March 2012), VP Area Manager Jakarta Tanjung Priok (May 2010 - June 2011), VP Area Manager Bandung Braga (April 2009 - April 2010), AVP Department Head PMS - Jakarta Network Group (December 2004 - March 2009), Senior Manager - Priority Banking (January 2003 - November 2004), Assistant Manager Priority Banking (April 2001 - December 2002). His career in Bank Mandiri started as a participant Officer Development Program (ODP) in 2000.
Activities Description
Attended Tax Training Service Regarding Tax Amnesty seminar
29 Agustus 2016 Jakarta PT Multi Utama Consultindo
Expand leadership Program For BOD
12 Oktober 2016Bali Corporate Leadership Development Insitude
Sertifikasi Management Resiko Program Eksekutif
20 Oktober 2016Jakarta Badan Sertifikasi Manajemen Resiko (BSMR)
Pointed as a Director of the Company pursuant to the Deed statement of shareholder’s resolution on September 30, 2016, which is made by Lenny Janis Ishak, SH, Notary in Jakarta, with a term of office until the closing of the General Meeting of Shareholders (AGMS) in 2019.
Training has been followed :
Arya SuprihadiDirector
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Management Discussion AnalysisProfile
An Indonesian citizen, born in Jakarta, February 12, 1969, 48 years old, domiciled in South Tangerang, Banten, Indonesia. He holds bachelor degree from Faculty of Economics, University of Gajah Mada, Yogyakarta in 1993.
He has been serving as Deputy Director of the Company since May 2014 until today. Joined the Company in 2009 as Head of Marketing & Product Development. Previously he worked at PT Toyota Astra Financial Services as a Dealer Relationship Management Department Head (2007-2009).
Served as Branch Head Marketing Coordinator in the area of East Indonesia PT Asuransi Astra Buana (2002-2007) and previously as the Marketing Manager April Fine Paper (1998-2002). Starting his career as a Management Trainee at PT Astra Graphia Tbk (1994).
Deputy Director Profile
Albertus HenditriantoDeputy Director
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An Indonesian citizen, born in Jakarta, 16 April 1977, 39 years old, domiciled in Bogor, West Java, Indonesia. Holds bachelor degree in Accounting from University of Parahyangan, Bandung in 2001.
Served as Deputy Director of the Company since January 2016 up to the present. Joined the Company in 2009 as a Head of the Operation Department (2009-October 2010),
Head of the Department AR Management (November 2010-April 2013), as Head of Division AR Management (May 2013-October 2014) and most recently as Head of Finance & Accounting (November 2014-December 2015) Prior to this he worked at PT Adira Dinamika Multifinance as Recovery Planning & Development Department Head (2007-2009), Remedial MIS Department Head (2006-2007), and the Internal Audit Section Head (2003-2006). Starting his career as Accounting Staff PT Panasia Ind. (2001).
Bonifatius Perana Citra KetarenDeputy Director
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An Indonesian citizen, born in Karawang, July 14, 1982, 34 years old, domiciled in Bekasi, West Java, Indonesia. Bachelor degree graduated at the Faculty of Mathematics and Natural Sciences from University of Padjadjaran, Bandung in 2004 and a Master of Management from University Mercubuana in 2007.
He has been serving as a Deputy Director of the Company since January 2016 up to the present. Joined the Company in 2010 as a Chief of the Department of IT Planning & Security (2010-April 2013) and as a
Chief of the Division of Information Technology (May 2013-December 2015) concurrently Head of Business Excellence Management (December 2014-December 2015). Previously he worked at PT Global Information Quality as the IT Infrastructure Head (2005-2010). Starting his career as an IT System Analyst at PT Royal Abadi Sejahtera (2002-2005).
William Francis IndraDeputy Director
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Our Innovations
Innovation is an idea, practice or object which is recognized and accepted as a new thing by any person or group to be adopted.
Innovation in competition or strategy, increasingly global, come together, creating a field of research and complexity of the new world of opportunity that directs the company to be sustainable in the long term.
The importance of innovation for MTF businesses is create the image of the product, how consumers can easily recall the products, prices of products offered could be higher, the products offered more easily compete in the market, and overcomebusiness market that is in the saturation point.
As a finance business entity which growing and sustainable, Mandiri Tunas Finance offers the following innovations:
Risk Portal 2017A. Description of risk portalRisk Portal is a web-based media which contains information regarding the policies and procedures applicable in the MTF, the performance of each branch, and tools to measure MTF risk profile as well as a means of discussion between branches of material or conditions with the Division of Risk Management.
B. Background & Objective Risk Portal1. With the development of information technology,
it takes a medium that can be easily accessed by OFFICERS MTF to know which conditions apply updates and matters relating to risk management in the MTF.
2. Risk Portal aims to raise awareness of Risk Management OFFICERS MTF, ie the information created in attractive packaging.
C. Use of Risk PortalSome things that can be obtained from the Risk Portal are:1. Looking at the policies, procedures and regulations
that exist in the MTF which is updated.2. The reporting and monitoring RCSA and MLED.3. Information on the Risk Profile reports which
updated.4. Looking at the MTF performance which update.5. Means of implementation Officers Smart Quiz
online.6. Forum of the material or the provision.
E-MemoA. DescriptionE-memo is an electronic system that is used to facilitate formal and informal communication of the company, which aims to increase productivity by accelerating the flow of information both inside and outside the company.
B. Background1. The writing manual Memo is not standardized2. The number of memo is overlapping
C. Objectives1. Assisting the activities secretarial and
administration of documents in the MTF via an electronic system
2. Monitoring through the system on the administration processes
3. Accelerating the process of SLA Administration in MTF
4. Improving productivity in MTF5. Reducing OPEX costs mold in MTF
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PIC creating Memo through E-Memo
Superior review the filing memo
OK?
Dis
posi
si /
App
rova
l
Director
Director
Director
Authorities giving approval
Authorities giving approval
Agree?
YesNo
No
No
Agree?
return
E-MEMO FLOW PROCESSES
Innovation Award
A. DescriptionMTF Innovation Award Program is one project that contend work innovations on MTF’s internal employee. This project was first held in 2015 to improve the behavior of all employees MTF innovation in supporting business progress MTF.
B. Background1. The description of the cultural value of MTF
OFFICERS where all employees are expected to become professional employees by continuing to innovate.
2. The development of the company’s business so quickly that it takes employees responsive to change.
3. The existence of the working agenda of the annual Business Excellence Management Division to conduct the 2016 Innovation Award.
C. ObjectivesEncouraging a culture of organizational innovation for business process improvement / efficiency, fee-based, improvement in the manufacturing of products for all employees MTF. • Delivering innovation to the MTF to achieve the
targets in 2016. • Build communication among employees MTF
to make innovations for the company. • Build concepts and strategies in the
manufacturing project for employees MTF
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D. Timeline pelaksanaan
E. Ketentuan PerlombaanPemenang dari Innovation Award di nilai berdasarkan 3 aspek, yaitu : 1. Impact terhadap perusahaan (cost and benefit)
Contoh : Efisiensi budget, cutting proses, meminimalkan resiko kredit
2. Originalitas Ide3. Kejelasan penyampaian Ide4. Impact terhadap perusahaan (cost and benefit)
Contoh : Efisiensi budget, cutting proses, meminimalkan resiko kredit Implementasi
Telecoll CentralizationA. DefinitionA concentration step of Telecoll which is aiming to increase credit quality of MTF in bucket 1 to 7 which is managed by by MTF’s partner and directly supervised by AR division.
B. Background1. The need for renewal of the billing handling
system on the Bucket Telecoll2. Productivity Telecoll which is still not optimized3. Memorandum 001/NOTA-ARM/MTF/I/2016
on Petition of Telecoll Centralized System Procurement (Piloting Regional 3 & 4)
4. Data Uncontacted is happening now is quite large, so it is necessary to PIC Account Tracer with the following picture:
C. Objectives1. Reducing Total Customer in the Bucket 1-72. Reducing the number of customer flow to Bucket
(8-30)3. Handling Billing History stored properly in System4. Helping to speed up the updating of Customer
Data5. Determining Job desk of Account Tracer
D. Current Progress To centralize tellecoll have been implemented fully in regions 3 and 4 since November 2016. For 5,6,7 territories have been run since January 2017 and for the region of 1,2, 8 and 9 since February 14, 2017.
MIA Socialization
Idea Delivering Implementation
Appraisal Pengumuman
Apr Mei Juni Juli Ags Sept Okt Nov Des
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Telemarketing CentralizationA. Background
• Availability of a database which is pretty much owned by the MTF and the Bank to be business potential by MTF.
• The potential for direct inbound business from the customer through MTF online media, and E-Commerce.
• The absence of parties focusing on the handling MTF database.
B. Purpose • Utilize MTF’s database and Bank Mandiri’s
database to get lending MTF product sales. • Creating sources of / channeling new to market
MTF’s products. • One form MTF’s CRM to customers. • Reduce MTF’s dependence against the dealer. • Support the achievement of the credit and
profits, Mandiri Tunas Finance.
C. DescriptionTelemarketing is a MTF product sales activities by telephone direct to the customer.Source customer database that will be followed up by a team of telemarketing:1. Database of Mandiri Tunas Finance:
Data per month: 12,0002. Database of Bank Mandiri:
Data per month: 250,000 (11 Reg BMRI)3. Referral Database In:
- MTF Media On Line (website, mobile apps, etc.)- Call Center MTF- E-Commerce (check aja.com, lead KKB)
Products are marketed:1. KKB Mandiri2. Multifunction3. Other
- Regular Product New Car MTF- Gold Financing - Renewal Insurance
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1. Executive Summary1. In accordance with Financial Services Authority
Regulation No. 30/POJK.05/2014 about Good Corporate Governance for Financing Company, PT Mandiri Tunas Finance (the Company) has had an Annual Business Plan for 2016.
2. Annual Business Plan 2016 prepared by the Company’s Board of Directors based on the vision that has been set, the performance evaluation in 2015 and the forecast for economic growth in the country as well as the development of the automotive industry.
3. To implement policies and strategies to achieve the targets of business in 2016 will be supported by the implementation of good
corporate governance and the implementation of comprehensive risk management and the implementation of compliance to regulations consistently.
4. Annual Business Plan 2016 have been informed to all management and employees in the Company and will continue to be disseminated on an ongoing basis throughout the year.
2. Policy and Management StrategiesThe Company has established policies and management strategies to be implemented in 2016 as follows:
Annual Business Plan Report
3. Application of Risk Management and Compliancea. Application of Risk Management
The Company, as a Subsidiary of PT Bank Mandiri (Persero) Tbk has done Consolidated Risk with the parent company where this activity is proof of compliance with Bank Indonesia Regulation No. 8/6/PBI/2006 dated January 30, 2006 and Regulation of the Financial Services Authority No. 17/POJK.03/2014 dated November 19, 2014 on Integrated Risk Management Application For Financial conglomerate, which is where the implementation of enterprise risk management is an integrated and consistent approach in conducting reviewing, measuring, monitoring and managing risks to all components of the Company group.
The development of this consolidation periodically communicated to the central bank the Bank’s risk profile in the discussion forum Integrated Risk Committee (IRC) every quarter.
In the application of risk management, the Company rests on pillars outlined as follows:
Pillar 1. Active Supervision of Board of Directors and Board of Commissioners.Active supervision of the Board of Directors and Board of Commissioners will continue to be made during 2016 including through: • Meeting Monthly Performance Report
(MPR), which will be held regularly every
No Initiative Key Description
1 Sales Focus on Passenger of Tier 1 Focus on Tier 1 segment which is passenger segment for DP with a minimum of 25% with a composition of 60% -70% of new lending
2 Commercial Segment Product Sales For the commercial segment will focus on segments with high DP as well as restrictions Principal Debt
3 Penetration Focus in Jakarta and East Java Market penetration in areas that are relatively healthy, especially Jakarta and East Java.
4 Shifting the portfolio's for credit quality improvement
As for areas that have a high historical loss AR will be focused to do the shifting portfolio and credit quality improvement
5 Optimization Alliance Bank Mandiri for KPM product
Optimizing KPM products through the branches of the Bank Mandiri as well as the continued strategic alliance with Bank Mandiri
6 Optimizing the fleet business Optimizing fleet business portfolio with a focus on Car Ownership Program (COP) or rental of SOEs
7 The cost efficiency Controlling costs particularly related to Collection Expenses and increased employee productivity
8 Multifunction Financing Expansion Development financing programs such as the multi-purpose, multi-purpose pilgrimage, traveling, etc.
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month, attended by the Board of Directors, Heads of Divisions and Regional Head of Company
• Evaluation of risk management policies to be conducted in the first quarter
• Risk Awareness Survey (RAWs) which is held every year to determine the development of risk awareness of employees from year to year
• There is an Audit Committee, the Compliance Work Unit and Risk Management Division as an organ the Board of Commissioner in carrying out its oversight function
• Report of the Supervisory Board of Commissioners on a quarterly basis throughout 2016.
Pillar 2. The adequacy of policies, procedures and risk limits.In 2015, Company reformed policies and procedures in accordance with FSA Regulation No. 18/POJK.03/2014 on the Application of Integrated Governance for Financial Conglomeration and FSA Regulation No. 030/POJK.05/2014 about Good Corporate Governance for Financial Services. In 2016 will be conducted: • Development of a new policy that originally
contained only general policy and credit policy, but in 2016 in accordance with the function to sharpen three policy pillars, namely financing policies, operational policies and support and control policy. Completion of three pillars of policy carried out until the first half of 2016
• Development of new procedures to change the grouping SOP of 3 groups SOP based processes, products and work units, into 8 groups SOP namely SOP Marketing Financing, Collection & Recovery, Operations, Controlling & Corporate Secretary, Information Technology and Human Capital and Procurement & General Affair with the completion of the semester is done until the end of 2016, while the Finance Treasury & Accounting SOP completed at the beginning of quarter 1 in 2017.
• Socialization and implementation of policy changes and new procedures to all branches of the Company.
• Develop Risk Appvetite Statement (RAS) by setting risk tolerance, risk appetite and risk capacity on some indicators such as ROE, ROA, Profit After Tax, Capacity Ratio, Debt Equity Ratio, NPF Ratio, AR Loss Ratio, Annual Aggregate Operational Risk (Fraud ), Down Time System, Down Time System, Legal Case Loss, Regulatory Policy and Lending Ratio Infringement.
Pillar 3. Adequacy of identification, measurement, monitoring, risk control.The Company has the tools to identify, measure and monitor the 9 major risk in the company. Nine Key Risk The Company is Credit Risk, Operational Risk, Market Risk, Liquidity Risk, Compliance Risk, Legal Risk, Reputation Risk, Strategic Risk and Risk Intra Group Transactions.
In 2016, the Company will do several things related to the identification, measurement, monitoring and control of risk, including: • Monitor 6 key risks related to the company’s
operations have been set at Key Risk Indicators (KRI) as an early warning system every month. 6 keys related to operational risk are: System Downtime, Capacity Memory System, Turn Over Employee, Internal Audit Report, Letter of Reprimand / fines / penalties from regulators and Customer Complaints.
• Develop a system BMKP calculation basis for the parties concerned, the group is not related and not related parties until the second half
• Perform basic skills certification in the field of financing for managerial positions (Branch Manager), and certification in the field of billing clerks who handle billing.
• Preservation of credit quality as do the Risk Assessment of product development, providing recommendations and the portfolio composition, conducting periodic review authority holders.
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Pillar 4. Risk Management Information SystemThe process of identification, measurement, monitoring and control of risk in the Company’s Report The Company uses web-based and mobile. In 2016, the Company will increase the accessibility of Mobile MTF Report which contains leading indicator, coincidence, leggings in real time either daily, monthly and yearly to be accessed easily by all Branch Managers, Outlet Managers and Area Managers.
Pillar 5. Thorough internal control systemThe Company has the Internal Audit Unit are independently reporting process and the results of the audit to the Board and the Managing Director. In addition there Whistle Blower System and Anti-fraud committee as a tool to follow up on the possibility of occurrence of fraud. In 2016, the Company will provide internal controls on an ongoing basis for the functioning of KYC through UKPN team.
a. Implementation of ComplianceFSA Regulation No. 30, 2014 concerning Good Corporate Governance for Financing Companies require, in November 2015, every finance company is required to have a working unit or employees who perform compliance functions. The Company has complied this as a commitment to the Company and the controlling shareholders to maintain the course of its business activities in a healthy and orderly according to the regulation in force. Unit labor compliance is one of the pillars of governance structure in the risk management framework in particular to the management of compliance risk.
In performing its duties, the management support unit compliance work actively to instill a culture of compliance to all elements of the company.
The compliance function that run the company is a series of actions or steps to ensure that policies, regulations, systems and procedures, as well as business activities conducted by
the Company in accordance with applicable laws and regulations. The application of the compliance work units at the Head Office in terms of duties and responsibilities of compliance include:1. identification, measurement, monitoring,
and control of the Compliance Risk with reference to the FSA rules concerning the financing company.
2. Assess the suitability of policies, rules and procedures that are owned by Companies with the legislation in force.
3. Conduct a review and/or recommend updating and refinement of policies, rules and procedures that are owned by the Company to comply with the provisions of the FSA and the legislation in force.
4. Act as a liaison officer of the company related to the function of adherence to the FSA and other regulatory authorities.
5. Perform other tasks related to the Compliance Function.
1. Implementation of Good Corporate GovernanceThe Company believes that the implementation of Good Corporate Governance (GCG) has an important role to ensure and guarantee the implementation of the tasks and responsibilities of management executed so well that it may lead the Company to achieve the vision and mission that has been set by the management. GCG implementation of a Company’s effort to provide added value to stakeholders. Implementation of GCG in the Company in accordance with the provisions and the applicable legislation.Before the FSA impose POJK No. 30 of 2014 on Corporate Governance Good For Financing Company, the Company has implemented GCG principles as outlined in the policy of Corporate Governance Good PT Mandiri Tunas Finance in 2013 and has been updated in 2015 with improvements to fit with POJK No. 30 of 2014.
Through active participation and full support of the Board of Commissioners and Board of Directors, the Company implemented the corporate governance principles in every aspect of business and at all levels of the organization, it is manifested in the following aspects:
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1. Shareholders and General Meeting of Shareholders
2. The Board of Commissionersa. Terms candidates for Board of
Commissionersb. Structure of the Board of Commissionersc. Election and Dismissal of the Board of
Commissionersd. Duties, Responsibilities and Independence
Measures BOCe. Independent Commissionerf. Committees under the Board of
Commissioners3. Board of Directors
a. Requirements Candidates for Board of Directors
b. structure of the Board of Directorsc. Election and Dismissal of Directorsd. Duties and Responsibilities of Directorse. Committees under the Board of Directors
4. Policies and Procedures implementation of compliance, internal audit and external audit.
5. Policies and Procedures implementation of risk management.
6. The remuneration policy7. Management of Conflict of Interest8. Transparency of Financial and Non Financial
Condition.9. Confidential Information and Company.10. Long-Term Plan, Work Plan and Annual Budget
PlanDec 2016 Ytd
Volume
Total Asset 10.891.663
Total Equity 1.440.826
Leading Indicators
Total Disbursement 18.000.000
Joint Finance 12.600.000
Non Joint Finance 5.400.000
Total Baki Debet 30.355.292
Joint Finance 19.813.629
Non Joint Finance 10.541.663
Approval Rate 85%
Nbr of Cust (‘000) 337
Nbr of New Cust (‘000) 133
Lagging Indicators
Total Income 1.282.603
Total Expense (871.759)
NPAT 306.800
Key Ratios
Yield (Selling Rate) 14,23%
Cust of Fund 11,33%
Volume
Total Asset 10.891.663
Total Equity 1.440.826
Leading Indicators
Total Pencairan 18.000.000
Joint Finance 12.600.000
Non Joint Finance 5.400.000
Total Baki Debet 30.355.292
Joint Finance 19.813.629
Non Joint Finance 10.541.663
Approval Rate 85%
Nbr of Cust ('000) 337
Nbr of New Cust ('000) 133
Lagging Indicators
Total Income 1.435.129
Total Expense (992.921)
Key Ratios
Yield (Selling Rate) 14,52%
Cust of Fund 11,50%
NIM 3,02%
CER 45,50%
Total NPL (Gross) 1,35%
NPL JF 1,19%
NPL NJF 1,96%
DER (Times) 6,32
ROA 4,50%
ROE 25,58% 333,000
5. Corporate Financial Performance Plan 2016
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Leading 18t
AR Loss< 1.5%
Profit333 M
Market Share 17%
8. Development and Financing Marketing Plan in 2016In 2016, management of the Company has set targets and goals to be achieved for the Company’s first year as follows:
MTF Rebranding
MTF Mobile &Apps Project
Organization Structure Development
New Marketing Program & Product + MTF Autoshow
KPM, Multiguna &Aliansi Mandiri
9. Development and Marketing Plan Financing in 2016In 2016, the Management Company has established a development and marketing company plans to achieve the targets and objectives of the company with the planned addition of branch offices and satellite offices (offices other than branch offices) as follows:
Penambahan Outlet :1. Sulawesi Tengah - Luwuk2. Jakarta - Lebak Bulus3. Jawa Barat - BandungSatelit :1. Sulawesi Tenggara - Bau Bau2. Sulawesi Tengah - Poso3. Maluku Utara - Ternate4. Pekanbaru - Air Molek5. Sumatera Utara - Pematang Siantar6. Bengkulu - Penarik7. Kalimantan Tengah - Pangkalan Bun8. Kalimantan Barat - Ketapang9. Kalimantan Timur - Berau10. Kalimantan Timur - Tengarong
To achieve the above objectives of the Company, the Company will make to the development of several things such as:
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DIREKTUR UTAMA
DIRECTOR
HUMAN CAPITAL
REGIONAL I - IX
RISK MANAGEMENT CORPORATE FLEET
DIRECTOR
STRATEGIC PARTNER& MARKETING
COMMUNICATION
GENERAL AFFAIRS &BRANCH SUPPORT
MARKETING &PRODUCT
DEVELOPMENT
AR MANAGEMENT INFORMATIONTECHNOLOGY
FINANCE &ACCOUNTING
MANDIRIKPM & MULTIPURPOSE
FINANCING
CREDIT MANAGEMENT
BUSINESSEXCLUSIVE
MANAGEMENT
CORPORATESECRETARY & LEGAL
COMPLIANCE
DEPUTI DIRECTOR DEPUTI DIRECTOR DEPUTI DIRECTOR
UKPNINTERNAL AUDIT
10. Capital Plan 2016
11. Funding Plan 2016
company organizational structure and mapping of human resources who are competent to fill the company’s strategic position. Therefore, the development plan, organizational structure of the company in 2016 are as follows:
12. Plan for Organizational Development and Human Resources in 2016In order to support the realization of the policy and management strategies so as to achieve the company’s targets and business plans with optimal results,the management plan development of the
Joint Financing Bond Bank Loan
Joint Financing with Bank Mandiri Corporate action to issue Bond Loan and cooperate with leading Banks (local and foreign) in Indonesia
Rp 12.240 Triliun Rp 500 Miliar Rp 5.260 Triliun
Actual Growth Plan
Dec 13Ytd
Dec 14Ytd
Dec 15Ytd
Act Dec14 VS
Dec 15
Dec 16Ytd
Total Equity 687.794 900.624 1.170.736 30% 1,440.826
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Improving the quality of human resources who are competent, which also the focus of attention of management so that there is a successor to fill the potential and strategic position of the company, therefore the Human Capital Education Program prepares to foster employees’ potential to become future leaders, which include:
1. Management Trainee (MT) Education Program A human resources development program designed specifically for the “Fresh Graduates” in order to produce “future MTF Leader” which is capable of supporting the achievement of the company’s vision. MT participants come from internal and external of the Company who is a graduate student (undergraduate and masters) from a leading university located in Java, Sumatra and Sulawesi. In 2016 Management Trainee education participants amounted to 24, which if passed the education program will occupy supervisory positions in the Company’s working units throughout Indonesia.
2. Manager Development Program (MDP)A program designed to prepare the future leaders of the Company through a fast-track career development level of Manager. MDP participants from internal employees of the Company that has the potential of all units within both Head Office and Branch Office. For 2016, the education program will be implemented in March 2016, with the number of participants is 10 people. In addition MTF Education Program for creating future leaders, improvement and development for existing leaders also became the company’s plan to increase the productivity of all employees, the program in question, among others:
1. Training Coaching & CounselingGranted to all Manager levels and above in all work units of the Company in Indonesia with the aim that all leaders in the Company can extend the capabilities to maximize the potential of its employees.
2. Supervisor Briefing Intended to equip a supervisor at the branch in terms of technical skills, as well as leadership.
3. Sales AcademyEquip program for new sales officer at the branch as soon as possible in order to adapt to the new working environment and can give a maximum contribution to the branch.
So that the Company may be in line with the policy set by the FSA and IFSA associated with employee development, the regular employees of the Company will be registered for the Certification Program Financing organized by the SPPI institution in accordance with the requirements set position, such as:
1. Basis Rate Financing Certification Is a certification program for financing company employees occupying managerial positions ranging level of heads of branches up to one level below the board of directors.
2. Risk Financing Certification A certification program for directors and officers 1 (one) level below the Board of Directors which oversees the risk management function.
3. Billing Professional CertificationCertification Program for employees of a finance company that handles billing field.
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13. ClosingWith the enactment of the Corporate Business Plan for 2016, the management and all employees are committed to make every effort in order to realize what the objectives of the company to the creation of the sustainability of the company is good for the future.
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Company Group Structure
PT BANK MANDIRI (Persero) Tbk PT Tunas Ridean Tbk
PT Mandiri Tunas Finance
51,00%
securitas
inhealth
remmitance
PT Bank Syariah Mandiri
Mandiri InternationalRemittance Sendirian Berhard
PT Mandiri Sekuritas
PT Mandiri AXAGeneral Insurance
PT Mandiri Utama Finance
99,99%
100,00%
99,99%
60,00%
51,00%
Bank MandiriEurope Limited London
PT AXA MandiriFinancial Services
Bank MandiriTaspen dan Pos
PT Asuransi JiwaInHealth Indonesia
100,00%
51,00%
59,44%
80,00%
PT Mandiri Capital Indonesia99,00%
TUNAS BMW
TUNAS DWIPA MATRA
TUNAS TUNAS PEUGEOT
PT Tunas Dwipa Matra
PT Tunas Asset Sarana
PT Tunas Mobilindo Pertama
PT Surya Sudeco
100,00%
100,00%
100,00%
PT Tunas Mobilindo Parama
PT Rahardja Eka Lancar
PT Surya Mobil Megahtama
100,00%
100,00%
TUNAS100,00%
100,00%
49,00%
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Shareholders Structure
Jardine MathesonHoldings Limited
Bermuda
56%
83%
PT Mandiri Tunas Finance
Public25%
Public17% Public44%
Ny. Suliawati Tjokro84%
Jardine Strategic Holdings Ltd75%
Anton Setiawan8%
Christian Milko Setiawan8%
Negara Republik Indonesia60%
Public40%
PT Tunas Andalan Pratama45,5%
Public10,7%
Jardine Cycle & Carriage, Ltd43,8%
PT Tunas Ridean Tbk49%51%
PT Bank Mandiri (Persero) Tbk
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Shareholders Composition
Based on the Deed of Minutes of Company’s Extraordinary General Meeting of Shareholders dated 8 February 6, 2009, prepared before Dr. Amrul Partomuan Pohan, SH, LL.M., Notary in Jakarta, where the deed has been notified to the Minister of Justice and Human Rights of the Republic of Indonesia based on the Letter of Company’s Data Annaouncement No.AHU-AH.01.10-01575 dated March 11, 2009, and registered in the Company Register No.AHU-0008560.AH.01.09.Tahun 2009, dated March 11, 2009, the shareholders approved the sale of shares belonging to or owned by PT Tunas Mobilindo Parama amounting to 625.000.000 (six hundred and twenty five million) shares with a total nominal value of Rp62.500.000.000 (sixty two billion, five hundred million Rupiah). and the shares owned by PT Tunas Ridean Tbk as many as
650.000.000 (six hundred and fifty million) shares with a total nominal value of Rp65.000.000.000 (sixty five billion rupiah) to PT Bank Mandiri (Persero) Tbk with a transaction value of the nominal value of the above-mentioned, as has been stated in the Deed of Share Sales regarding the Acquiring of the Company No. 4 dated February 6, 2009, prepared before Dr. Amrul Partomuan Pohan, SH, LL.M., Notary in Jakarta, so that with the purchase of these shares, the Company’s shareholders changed as follows:
Brief Profile of Shareholders PT Bank Mandiri (Persero) Tbk
Business Establishment
(hereinafter referred to as “Bank Mandiri” or “Bank”) was established on October 2, 1998 in the Republic of Indonesia with notarial deed of Sutjipto, S.H., No.10, pursuant to Government Regulations No.75 on 1998 dated October 1, 1998. The deed has been validated by the Minister of Justice of the Republic of Indonesia pursuant to Decree No.C2-16561.HT.01.01TH.98 dated October 2, 1998, and was announced in Supplement No.6859 in State Gazette of the Republic of Indonesia No.97 dated December 4, 1998.
Bank Mandiri was established through the merge of PT Bank Bumi Daya (Persero) (“BBD”), PT Bank Dagang Negara (Persero) (“BDN”), PT Bank Ekspor Impor Indonesia (Persero) (“Bank Exim”) dan PT Bank Pembangunan Indonesia (Persero) (“Bapindo”) (all is referred to as “the Merger Participant”).
Pursuant to Article 3 of Articles of Association of Bank Mandiri, the scope of activity of Bank Mandiri is conducting business in the field of banking in accordance with the prevailing provisions and the laws and regulations. Bank Mandiri started its operations on August 1, 1999.
Articles of Association of Bank Mandiri has been amended several times. The latest amendment was in connection with the provision (i) Regulation of Indonesia Financial Services Authority (OJK) No.32/POJK.04/2014 on Plan & Implementation of General Meeting of Shareholders of Listed Company; and (ii) Regulation of OJK No.33/POJK.04/2014 on the Board of Directors and Board of Commissioners of Issuers or Listed Companies.
Table of Company’s Share Composition 2009-Present
DescriptionNominal Value RP100 per share
Percentage (%)Total Share Total Nominal Value
(Rp)Authorized Capital 10.000.000.000 1.000.000.000.000Shareholders1. PT Bank Mandiri (Persero) Tbk 1.275.000.000 127.500.000.000 51,002. PT Tunas Ridean Tbk 1.225.000.000 122.500.000.000 49,00Total Issued and Fully Paid-Up Capital 2.500.000.000 250.000.000.000 100,00Share in Portfolio 7.500.000.000 750.000.000.000
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Such amendment was implemented to Article 4 paragraph 4, Article 4 paragraph 5, Article 9, Article 10, Article 11, Article 12, Article 13, Article 14, Article 15, Article 16, Article 17, Article 18, Article 19, Article 20, Article 21, Article 22, Article 24, Article 25, and Article 26. This amendment was implemented pursuant to Notarial Deed of Ashoya Ratam, S.H., M.kn No.14 dated April 14, 2015 and has been reported to the Minister of Law and Human Rights of the Republic of Indonesia with receipt of report No. AHU-AH.01.03-0924779 dated April 16, 2015 and has been registered on Company Register No. AHU-3493045.AH.01.11 dated April 16, 2015.
Business Merger
At the end of February 1998, the Government of the Republic of Indonesia (hereinafter referred to as “the Government”) announced the plan to carry out restructuring on the Merger Participant. Related with the plan, the Government established Bank Mandiri in October 1998 by performing cash deposit and transfer of the Government’s shares to the Merger Participant (Note 40a and 40b). Difference between transfer price and book value during restructuring was not calculated since it was not practical. All loss due to restructuring was recognized in Recapitalization Program. The restructuring plan was designed to merge the business of the Merger Participant to Bank Mandiri in July 1999 and recapitalization of Bank Mandiri. Restructuring of the Merger Participant to Bank Mandiri includes:
• Resctructuring of given credit • Restructuring of given non-credit asset • Rationalization of branch offices in domestic and
overseas • Rationalization of human resources
Pursuant to notarial deed of Sutjipto, S.H., No.100 dated July 24, 1999, the Merger Participant legally performed business merger to Bank Mandiri. The Deed of Merger was validated by the Minister of Justice of the Republic of Indonesia with Decree No.C-13.781.HT.01.04.TH.99 dated July 29, 1999 and approved by the Governor of Bank Indonesia with Decree No.1/9/KEPGBI/1999 dated Jul 29, 1999.
The merger was stated as valid by Head of Department of Industry and Trade of South Jakarta through Decree No. 09031827089 dated July 31, 1999. On the effective date:
• All assets and liabilities of the Merger Participant was transferred to Bank Mandiri as the result of Merger;
• All operations and activities of the Merger Participant was transferred and operated by Bank Mandiri;
• Bank Mandiri obtained additional paid-up capital amounted to Rp1,000,000 (one million Rupiah) (full amount) or equal to 1 (one) share which was the remaining share owned by the Government in each Merger Participant (Note 40a and 40b).
On the effective date, the Merger Participant was legally dismissed without liquidation and Bank Mandiri as the Result of Merger achieved all rights and liabilities from the Merger Participant.
Composition of the Board of Commissioner and Board of Director
Board of Commissioner/President Commissioner : Bpk. Wimboh SantosoVice President : Bpk. Imam Apriyanto PutroCommissionerIndependent : Bpk. Abdul AzizCommissioner Independent : Ibu AvilianiCommissioner Commissioner : Bpk. AskolaniCommissioner : Bpk. SuwhonoIndependent : Bpk. Goei Siauw HongCommissioner Independent : Bpk. Bangun SarwitoCommissioner Kusmuljono Independent : Bpk. Ardan AdiperdanaCommissioner
Board of Director
President Director : Bpk. Kartika WirjoatmodjoVice President Director : Bpk. Sulaiman A. AriantoDirector : Bpk. Ogi PrastomiyonoDirector : Bpk. Pahala N. MansuryDirector : Bpk. Royke TumilaarDirector : Bpk. Hery Gunardi
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Director : Bpk. TardiDirector : Bpk. Ahmad Siddik BadruddinDirector : Ibu Kartini SallyDirector : Bpk. Rico Usthavia Frans
PT Tunas Ridean Tbk
a. Brief History
PT Tunas Ridean Tbk, (”TURI”) is located in Jakarta, established pursuant to Deed of Establishment No.102 dated July 24, 1980, as amended with Deed of Establishment No.141 dated October 24, 1980, both were made before Winanto Wiryomartani, S.H, a Notary in Jakarta and has been approved by the Minister of Justice of the Republic of Indonesia with Decree No.Y.A.5/140/1, dated April 7, 1981, registered on Register book of Clerk of Central Jakarta District Court No.1431/1983 dated March 17,1983 and was announced in State Gazette of the Republic of Indonesia No.84 dated October 21, 1983 Supplement No.935. Articles of Association of TURI has been amended for several times, among other due to the Public Offering to public pursuant to Deed No.224 dated November 26, 1994 made before Mrs. Poerbaningsih Adi Warsito, S.H., a Notary in Jakarta and has been approved by the Minister of Justice of the Republic of Indonesia with Decree No.C2-3721.HT.01.04.TH.95 dated March 30, 1995, registered on Central Jakarta District Court No.1084/1995 dated October 5, 1995 and was announced in State Gazette of the Republic of Indonesia No.92 dated November 17, 1995, Supplement No.9527.
Furthermore, in order to fulfill the provision in Law No.40 Year 2007 concerning Limited Liability Company, TURI has adjusted its Articles of Association as stated in Deed of Meeting Resolution No.43 dated August 8, 2008 made before Poerbaningsih Adi Warsito, S.H., a Notary in Jakarta and has been approved by the Minister of Law and Human Rights of the Republic of Indonesia in accordance with Decree No.AHU-73009.AH.01.02 Year 2008 dated October 13, 2008, the Articles of Association has been changed to Deed of Meeting Resolution No.09 dated May 6, 2010. made before Mrs. Poerbaningsih Adiwarsito, S.H., a Notary in Jakarta, and has been approved by the Minister of Law and Human Rights of the Republic of Indonesia pursuant to Decree No. AHU-AH.01.10-11859 dated May 14, 2010.
The latest Articles of Association of TURI has been amended pursuant to Deed of Meeting Resolution No.48 dated July 31, 2015 made before Ir.Nanette Cahyanie Handari Adi Warsito,S.H., a Notary in Jakarta, and has been notified to the Minister of Law and Human Rights of the Republic of Indonesia in accordance with Notification Acceptance Letter of Amendmend to Articles of Association No: AHU-AH.01.03-0954985 dated August 6, 2015 and has been registered on Company List No.AHU- 3538770. AH.01.11 YEAR 2015 dated August 6, 2015. The deed approved the amendment to Article 10 – Article 24 and Article 27-29 of Articles of Association of TURI.
Purpose and Objective
In accordance with Article 3 of Articles of Association of TURI as stated in Deed of Meeting Resolution Number 48 dated July 31, 2015, made before Ir.Nanette Cayanie Handari Adi Warsito,S.H., a Notary in Jakarta, which has been notified to the Minister of Law and Human Rights of the Republic of Indonesia in accordance with Notification Acceptance Letter of Amendment to Articles of Association Number: AHU-AH.01.03-0954985 dated August 6, 2015 and has been registered on Company Register Number AHU-3538770.AH.01.11. 2015 dated August 6, 2015, the purpose and objective of TURI are as follows:
Purpose and objective of TURI is:
• Engaged in the field of agency, distributor, industry, trade, transportation that is related to motor vehicle, and contractor.
• To achieve such purpose and objective, TURI implements these business activities:a. Engages in the field of agency of motor vehicle
trading, both from domestic and overseas, including maintenance and repairment of motor vehicle;
b. Engages in the field of grocery, supplier, and distributor of merchandise that is related to motor vehicle;
c. Engages in the field of industry that is related to motor vehicle;
d. Engages in the field of general trading, both on own account and other parties’ in commission, including import, export, local, and inter-island trading;
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e. Engages in the field of land transportation;f. Engages in the field of planning,
implementation, and contractor of building, road, and bridge, as well as other civil works.
Capital Structure
Based on the Register of TURI Shareholders which issued by PT Datindo Entrycom as of 31 December 2016, TURI capital structure is as follows:
Composition of the Board of Commissioner and Board of DirectorsPursuant to Deed of Meeting Resolution of TURI No.07 dated July 3, 2015 made before Ir.Nanette Cahyanie Handari Adi Warsito, S.H., a Notary in Jakarta, it has been notified to the Minister of Law and Human Rights and has been accepted in accordance with the letter regarding Receipt of Notification of Amendment to Data of PT Tunas Ridean Tbk. No.AHUAH.01.03-0948552 ed July 6, 2015 jo Deed of Meeting Resolution Number 39 dated May 19, 2015 made before Ir.Nanete Cahyanie Handari Adi Warsito, S.H., a Notary un Jakarta , the deed hase been notified to the Minister of Law and Human Rights and has been received in accordance with the letter regarding Receipt of Notification of Amendment to Data of PT Tunas Ridean Tbk No.AHU-AH.01.03-0933690 dated May 21, 2015, the composition of the Board of Commissioners and Board of Directors is as follows:
Board of Commissioner
President Commissioner : Anton SetiawanVice President Commissioner (Independent) : DR. Cosmas BatubaraCommissioner : Hong Anton LeomanCommissioner : Haslam PreestonCommissioner : Heng Carla Hendriek(Independent)
Board of Director
President Director : Rico Adisurja SetiawanDirector : Nugraha Indra PermadiDirector : Kent TeoDirector : Tenny Febyana HalimDirector Unaffiliated : Tan Fony Salim
Line of Business
TURI began its business under the name of Tunas Motor in 1967 and was initially an importer and seller of new and used cars with brands such as Fiat, Holden, and Mercedes-Benz. Since 1974, Tunas Ridean was trusted by PT Astra International Inc. (ATPM Toyota and Daihatsu) to distribute such motor vehicle in Jakarta.
In line with the business development, TURI was also later appointed to be official Dealer of BMW, for DKI Jakarta and Bandung, Peugeot and Daihatsu for DKI Jakarta, Banten, West Java, Bengkulu, and South Lampung. For Honda motorcycle, TURI is the main dealer for Lampung and Dealer for Riau, Bengkulu, Bangka, Belitung, South Sumatera, Jambi, Jakarta and surrounding areas, Bandung, Yogyakarta, East Kalimantan, South Sulawesi, Southeast Sulawesi, dan Bali.
TURI is the biggest independent automotive group in Indonesia whose marketing network includes major cities in Indonesia with 138 outles spread
DescriptionNominal Value Rp25 per share
PercentageTotal Share Total Value (Rp)
Authorized Capital 10.000.000.000 250.000.000.000 100,000
Shareholders:
PT Tunas Andalan Pratama 2.536.317.700 63.407.942.500 45,454
Jardine Cycle & Carriage Ltd 2.446.009.000 61.150.225.000 43,835
Public (under 5% each) 597.673.300 14.941.832.500 10,711
Total Issued and Fully Paid Capital 5.580.000.000 139.500.000.000 100,000
Total Shares in Portfolio 4.420.000.000 110.500.000.000
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Period Authorized Capital Paid-Up Capital(Rp)
Shareholder%
Name Total Share
Establishment (1989) -1993 10.000.000.000 5.000.000.000
• PT Tunas Ridean Tbk 2.500 50
• PT Kharisma Setia Utama 2.500 50
1993 - 1995 10.000.000.000 5.000.000.000• PT Tunas Ridean Tbk 2.500 50
• PT Tunas Mobilindo Parama 2.500 50
1995 - 1997 100.000.000.000 25.000.000.000• PT Tunas Ridean Tbk 22.500 90
• PT Tunas Mobilindo Parama 2.500 10
1997 - 2002 250.000.000.000 65.000.000.000• PT Tunas Ridean Tbk 117.000.000 90
• PT Tunas Mobilindo Parama 13.000.000 10
2002 - 2007 250.000.000.000 65.000.000.000• PT Tunas Ridean Tbk 97.500.000 75
• PT Tunas Mobilindo Parama 32.500.000 25
2007 - 2009 1.000.000.000.000 250.000.000.000• PT Tunas Ridean Tbk 1.875.000.000 75• PT Tunas Mobilindo Parama 625.000.000 25
2009 – Saat Ini 1.000.000.000.000 250.000.000.000• PT Bank Mandiri (Persero) Tbk 1.275.000.000 51
• PT Tunas Ridean Tbk 1.225.000.000 49
across Indonesia. Through its subsidiaries, TURI has 20 branches of Toyota, 6 branches of BMW, and 1 branch of BMW Premium selection, 17 branches of Daihatsu, 1 branch of Peugeot, 85 branches of Honda, 13 rentals, and 2 branches of Isuzu.
Table of capital structure and composition of shareholder of the Company since the establishment until the publishing of this Annual Report is as follows:
All changes in the capital structure and the shareholder above has been implemented in accordance with provision in the Company’s Articles of Association and the Prevailing Laws on Limited Liability Company.
Share Ownership of the Board of Commissioners and Board of Directors
The Board of Commissioners and Board of Directors do not hold any shares in the Company
Public Share OwnershipThe Company is a close company, thus public do not hold shares of the Company.
Subsidiary, Association, or Public Company
The Company does not have Subsidiary, Association, or other Public Companies, thus such information cannot be presented.
Share-Listing Chronology
There is no information on share-listing chronology as the Company does not execute any public offering of shares.
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Other Securities Listing Chronology
The Company has several times issued bonds and
medium terms notes and the proceeds were fully
used by the Company for the activities of automotive
financing. Despite the full support of funding facilities,
especially the Joint Financing from PT Bank Mandiri
(Persero) Tbk, the Company maintains its funding
diversification in order to support the Company’s
performance.
The Issuance of Bonds and medium term notes aim to
maintain good relationship with the investors as well
as the Company’s
existence in the Capital Market.
The chronology of the bonds and medium term notes
listing is as follows:
1. On May 10, 2011, the Company issued Bonds
of Mandiri Tunas Finance VI of 2011 with a fixed
interest rate and total principal amount of
Rp600,000,000,000.- (six hundred billion Rupiah),
with a maximum period of 4 (four) years, consisting of:
Series A : Total principal amount of Rp
Rp48,000,000,000.- (forty eight billion
Rupiah), within period of 370 (three
hundred seventy) days and interest rate
of 8,60% per year (due date on May 23,
2012). Bonds principal full payment was
paid on the Series A due date.
Series B : Total principal amount
Rp52,000,000,000.- (fifty two billion
Rupiah), within period of 2 (years) and
interest rate of 9.60% per year (due date
on May 19, 2013). Bonds principal full
payment was paid on the Series B due
date.
Series C : Total principal amount of
Rp350,000,000,000.- (three hundred and
fifty billion Rupiah), within period of 3
(three) years and interest rate of 10.00% per year (due date on May 19, 2014). Bonds principal full payment was paid on the Series C due date.
Series D : Total principal amount of
Rp150,000,000,000.- (one hundred and
fifty billion Rupiah), within period of 4
(four) years and interest rate 10.70% per
year (due date on May 19, 2015). Bonds
principal full payment was paid on the Series D due date.
The bonds is guaranteed by fiduciary guarantee in
the form of performing receivables amounting to,
at the least, 80% of the bonds principal value. The
bonds interest rate is paid every 3 (three) months in
which the first payment of the bonds interest was
conducted on August 19, 2011, and the last payment
was on May 19, 2015.
In the issuance of the Bonds, the Company obtained
the result of Bonds rating from PT Pemeringkatan
Efek Indonesia (PEFINDO) of idA+ (Single A plus;
Stable Outlook) and has been listed on PT Bursa Efek
Indonesia on May 20, 2011.
All proceeds (100%) of the Bonds were utilized by the
Company to increase its working capital for vehicles
financing. The report of the use of proceeds had been
submitted to Bapepam and LK through letter No. 084/
MTFCSC/VII/2011 on July 7, 2011.
Public Offering of Mandiri Tunas Finance Bonds VI of
2011 was assisted by the following capital market
supporting institutions and professions:
Trustee : PT Bank Mega Tbk
Public Acountant : KAP Tanudiredja, Wibisana
and partners (a member firm
of Pricewaterhouse Coopers
Global Network)
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Notary : Fathiah Helmi, SH
Legal Consultant : BM & Partners Law Office
Rating Agency : PT Pemeringkat Efek Indonesia
(PEFINDO)
On November 2, 2012, PT Fitch Rating Indonesia
has established the Corporate’s Rating with AA(idn)
(Double AA; Stable Outlook). On November 12,
2012, PT Pemeringkat Efek Indonesia (PEFINDO) has
upgraded the Corporate’s rating as well as the Series
B, Series C and Series D of bonds payable VI 2011
from the originally rated idA+ (Single A plus; Stable
Outlook) into idAA (Double A; Stable Outlook). Then,
on March 5, 2014, through a letter from PEFINDO
No.360/PEF-Dir/III/2014 regarding the Annual
Monitoring Certificate of the rankings of Series C and
Series D of Bonds VI 2011 of PT Mandiri Tunas Finance
in the period of March 5, 2014, until March 1, 2015,
decided to reassign the rating of idAA (Double A).
2. On May 30, 2013, the Company issued Continuous Bonds I of Mandiri Tunas Finance Phase I of 2013 with the fixed interest rate and principal amount of Rp500,000,000,000 (five hundred billion Rupiah), within the period of 4 (four) years maximum, consisting of:
Series A : Total principal amount of Rp425,000,000,000.- (four hundred and twenty five billion Rupiah), with the period of 36 (thirty six) months and interest rate of 7.75% per year (due date on June 5, 2016). Bonds principal full payment will be conducted on the Series A due date.
Series B : Total principal amount of
Rp75,000,000,000.- (seventy five billion
Rupiah), with the period of 48 (forty
eight) months and interest rate of
7.80% per year (due date on June 5,
2017). Bonds principal full payments
will be conducted on the Series B due
date.
The bonds is guaranteed by the fiduciary guarantee in the form of performing receivables amounting to, at the least, 60% of the bonds principal value. The bonds interest is paid every 3 (three) months in which the first payment of the bond interest was conducted on September 5 2013, and the last payment will be conducted on June 5, 2017.
In the issuance of the Bonds, the Company obtained the result of bonds rating from PT Pemeringkat Efek Indonesia (PEFINDO) of idAA (Double A) for the period of March 18, 2013, until March 1, 2014 and has been listed on PT Bursa Efek Indonesia on June 7, 2013. Then, on March 5, 2014, through a letter from PEFINDO No. 359/PEF-Dir/III/2014 regarding the Annual Monitoring Certificate of the Rankings of Continuous Bonds I of PT Mandiri Tunas Finance for the period of March 5, 2014, until March 1, 2015, the rating idAA (Double A) was reassigned.
All proceeds (100%) of the Bonds were utilized by the Company to increase its working capital for vehicles financing. The report of the use of proceeds had been submitted to the Indonesia Financial Services Authority through letter No. 091/MTF-CSC/ VII/2013 dated July 8, 2013.
Public Offering of Continuous Bonds I Mandiri Tunas Finance Phase I of 2013 was assisted by the following capital market supporting institutions and professions:
Trustee : PT Bank Mega Tbk
Public Acountant : KAP Purwantono, Suherman &
Surja (a member firm of Ernst &
Young Global Limited)Notary : Fathiah Helmi, SHLegal Consultant : BM & Partners Law OfficeRating Agency : PT Pemeringkat Efek Indonesia
(PEFINDO)
3. On May 19, 2014, the Company issued Continuous Bonds I of Mandiri Tunas Finance Phase II of 2014 with the fixed interest rate and principal amount of Rp 600,000,000,000 (six hundred billion Rupiah), within the period of 4 (four) years maximum, consisting of:
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Series A : Total principal amount of Rp425,000,000,000.- (four hundred and twenty five billion Rupiah), with the period of36 (thirty six) months and interest rate of 10.70% per year (due date on May 23, 2017). Bonds principal full payment will be conducted on the Series A due date.
Series B : Total principal amount of Rp175,000,000,000.- (one hundred and seventy five billion Rupiah), with the period of 48 (forty eight) months and interest rate of 10.85% per year (due date on May 23, 2018). Bonds principal full payments will be conducted on the Series B due date.
The bonds is guaranteed by the fiduciary guarantee in the form of performing receivables amounting to, at the least, 60% of the bonds principal value. The bonds interest is paid every 3 (three) months in which the first payment of the bond interest was conducted on August 23, 2014, and the last payment will be conducted on May 23, 2018.
In the issuance of the Bonds, the Company obtained the result of bonds rating from PT Pemeringkat Efek Indonesia (PEFINDO) of idAA (Double A) for the period of March 5, 2014, until March 1, 2015 and has been listed on PT Bursa Efek Indonesia on May 26, 2014.
All proceeds (100%) of the Bonds were utilized by the Company to increase its working capital for vehicles financing. The report of the use of proceeds had been submitted to the Indonesia Financial Services Authority through letter: 070/MTF-CSC/ VII/2014 dated July 14, 2014 regarding the Report on the Use of Proceeds from Public Offering of Continuous Bonds I of Mandiri Tunas finance Phase II of 2014 per June 30, 2014.
Public Offering Continuous Bonds I of Mandiri Tunas Finance Phase II of 2014 was assisted by the following capital market supporting institutions and professions:
Trustee : PT Bank Mega TbkPublic Acountant : KAP Tanudiredja, Wibisana and
partners (a member firm of Pricewaterhouse Coopers Global Network)Notary : Fathiah Helmi, SHLegal Consultant : BM & Partners Law OfficeRating Agency : PT Pemeringkat Efek Indonesia (PEFINDO)
4. On May 28, 2015, the Company issued Continuous Bonds I of Mandiri Tunas Finance Phase III of 2015 with bonds principal value of Rp 150,000,000,000 (one hundred and fifty billion Rupiah), within the period of 3 (three) years with interest of 9.75% per year.
The bonds is guaranteed by the fiduciary guarantee in the form of performing receivables amounting to, at the least, 60% of the bonds principal value. The bonds interest is paid every 3 (three) months in which the first payment of the bond interest was conducted on September 9, 2015, and the last payment will be conducted on June 9, 2018.
In the issuance of the Bonds, the Company obtained the result of bonds rating from PT Pemeringkat Efek Indonesia (PEFINDO)of idAA (Double A) for the period of March 6, 2015, until March 1, 2016 and has been listed on PT Bursa Efek Indonesia on June 10, 2015.
All proceeds (100%) of the Bonds were utilized by the Company to increase its working capital for vehicles financing.
Public Offering Continuous Bonds I of Mandiri Tunas Finance Phase III of 2015 was assisted by the following capital market supporting institutions and professions:
Trustee : PT Bank Mega TbkPublic Acountant : KAP Purwantono, Suherman & Surja (a member firm of Ernst &
Young Global Limited)Notary : Fathiah Helmi, SHLegal Consultant : BM & Partners Law OfficeRating Agency : PT Pemeringkat Efek Indonesia (PEFINDO)
5. On December 11, 2015, the Company issued Continuous Bonds II of Mandiri Tunas Finance Phase I of 2015 with the fixed interest rate and
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principal amount of Rp 600,000,000,000 (six hundred billion Rupiah), within the period of 5 (five) years maximum, consisting of:
Series A : Total principal amount of Rp500,000,000,000.- (five hundred billion Rupiah), with the period of 3 years and interest rate of 10.20% per year.
Series B : Total principal amount of Rp100,000,000,000.- (a hundred billion Rupiah), with the period of 5 years and interest rate of 10.80% per year.
The bonds is guaranteed by the fiduciary guarantee in the form of performing receivables amounting to, at the least, 60% of the bonds principal value. The bonds interest is paid every 3 (three) months in which the first payment of the bond interest was conducted on March 16, 2015, and the last payment will be conducted on September 16, 2020.
In the issuance of the Bonds, the Company obtained the result of bonds rating from PT Pemeringkat Efek Indonesia (PEFINDO) of idAA (Double A) for the period of September 30, 2015, until September 1, 2016 and has been listed on PT Bursa Efek Indonesia on December 14, 2015.
All proceeds (100%) of the Bonds were utilized by the Company to increase its working capital for vehicles financing.
Public Offering Continuous Bonds II of Mandiri Tunas Finance Phase I of 2015 was assisted by the following capital market supporting institutions and professions:
Trustee : PT Bank Mega TbkPublic Acountant : KAP Purwantono, Suherman & Surja (a member firm of Ernst & Young Global Limited)Notary : Fathiah Helmi, SHLegal Consultant : BM & Partners Law OfficeRating Agency : PT Pemeringkat Efek Indonesia
(PEFINDO)
6. On June 1, 2016, the Company issued a Public Offering II Sustainable Bond Mandiri Tunas
Finance Phase II Year 2016 with fixed rate bonds with a principal amount of Rp1.400.000.000.000 (one trillion four hundred billion Rupiah) with a maximum period of 5 years consisting of:
Series A : With the principal amount of Rp720.000.000.000 (seven hundred and twenty billion Rupiah) with a term of 3 years and 8.95% interest per annum.
Series B : With the principal amount of Rp680.000.000.000 (six hundred eight twenty billion Rupiah) with a term of 5 years and interest of 9.25% per year.
These bonds are secured by collateral in the form of receivables fdusia performing at least 60% of the principal amount.
The interest is paid every 3 (three) months in which the first interest payment bond on 1 September 2016, while the last bond interest payment will be made on June 1, 2021.
In order issuance, the Company has obtained the results of bond rating of PT Securities Rating Indonesia (PEFINDO) with ratings: AA (Double A) for the period from 30 September 2015 until 1 September 2016 and has been listed on the Indonesia Stock Exchange on June 2, 2016 ,
Proceeds from the bonds have been used 100% to increase working capital in order to finance the motor vehicle by the Company. Reports throughout the realization of the use of funds has been submitted to the FSA and the Indonesian Stock Exchange by letter No. 079/MTF-CLC.CCS/VI/2016 dated June 23, 2016.
Sustainable Public Offering Bond II Mandiri Tunas Finance Phase II 2016 helped by supporting professional institutions and capital markets, namely:
Trustee : PT Bank Mega TbkPublic Accounting : KAP Purwantono, Sungkoro & Surja (a firm member of Ernst & Young Global Limited)Notary : Fathiah Helmi, SHLegal Consultant : BM & Partners Law Office
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Rating Agency : PT Securities Rating Indonesia (PEFINDO)
7. On October 7, 2016, the Company issued a Public Offering Sustainable Bond III Mandiri Tunas Finance Phase I Year 2016 with fixed rate bonds with a principal amount of Rp500,000,000,000 (five hundred billion Rupiah) with a maximum period of 5 years consists of:
Series A : With the principal amount of Rp400.000.000.000 (four hundred billion Rupiah) with a term of 3 years and interest of 8.20% per year.
Series B : With the principal amount of Rp100,000,000,000 (one hundred billion Rupiah) with a term of 5 years and interest of 8.55% per year.
These bonds are secured by collateral in the form of receivables fdusia performing at least 60% of the principal amount. The interest is paid every 3 (three) months in which the first interest payment bond on January 7, 2017, while the last bond interest payment will be made on October 7, 2021.
In order issuance, the Company has obtained the results of bond rating of PT Securities Rating Indonesia (PEFINDO) with ratings: AA + (Double A plus) for the period July 28, 2016 until July 1, 2017 and has been listed on the Indonesia Stock Exchange on October 10 2016.
Proceeds from the bonds have been used 100% to increase working capital in order to finance the motor vehicle by the Company. Reports throughout the realization of the use of funds has been submitted to the FSA and the Indonesian Stock Exchange by letter No. 007/MTF-CLC.CCS /I/2017 dated January 9, 2017 and a revised report on the realization by letter No. 009 / MTF-CLC.CCS/I/2017 dated January 12, 2017.
Sustainable Public Offering Bond III Mandiri Tunas Finance Phase I 2016 helped by supporting professional institutions and capital markets, namely:
Trustee : PT Bank Mega TbkPublic Accounting : KAP Purwantono, Sungkoro & Surja (a firm member of Ernst &
Young Global Limited)Notary : Fathiah Helmi, SHLegal Consultant : BM & Partners Law OfceRating Agency : PT Securities Rating Indonesia
(PEFINDO)
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Name and Address of Rating Agency
PT Pemeringkat Efek Indonesia (PEFINDO)Panin Tower Senayan City Lt.17Jl. Asia Afrika Lot.19 - Jakarta 10270Telepon : +62217278 2380Faksimile : +62217278 2370Website : http://www.pefindo.com
PT Fitch Ratings IndonesiaDBS Bank Tower, 24th Floor, Suite 2403Jl. Prof. Dr. Satrio Kav 3-5, Jakarta 12940Telepon : +6221 2988 6800Faksimile : +6221 2988 6822Website : http://www.fitchratings.co.id
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Name and Address of Capital Market Supporting Institutions
Akuntan Publik
Purwantono, Sungkoro, & Surja
(a member firm of Ernst & Young Global Limited)
Indonesia Stock Exchange
Building Tower 2, 7th Floor
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190, Indonesia
Telepon : +6221 5289 5000
Faksimile : +6221 5289 4100
Website : www.ey.com/id
Jasa : Pemeriksaan (Audit) laporan keuangan
per 31 Desember 2016
Biaya : Rp 460.000.000,-
Periode : Februari sampai Desember 2016
Penugasan
Konsultan Hukum
BM & Partners Law Office
Wisma Aldiron Lt. Dasar Suite 15B
Jl. Gatot Subroto Kav.72 - Jakarta 12780
Telepon : +6221798 1292
Faksimile : +6221790 2539
Jasa : Melakukan pemeriksaan segi
hukum atas Perseroan
dalam rangka penerbitan
Penawaran Umum
Berkelanjutan Obligasi Berkelanjutan II
Tahap II Tahun 2016 dan
Penawaran Umum
Berkelanjutan Obligasi
Berkelanjutan III Tahap I Tahun 2016
Biaya : Rp 561.000.000,-
Periode : April sampai Desember 2016
Penugasan
Annual Report 2016 PT Mandiri Tunas Finance 81
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Notaris Fathiah Helmi, SH Graha Irama Lantai 6C Jl. HR. Rasuna Said Blok X-1 Kav 1-2, Kuningan - Jakarta 12950 Telepon : +6221 5290 7304 - 5290 7305-6Faksimile : +6221 5261 136 Jasa : Pembuatan akta-akta dalam rangka
penerbitan Penawaran Umum Berkelanjutan Obligasi
Berkelanjutan II Tahap II Tahun 2016 dan Penawaran Umum Berkelanjutan Obligasi Berkelanjutan III Tahap I Tahun 2016. Biaya : Rp 82.500.000,- Periode : April sampai Desember 2016 Penugasan
Wali Amanat PT Bank Mega Tbk Menara Bank Mega lantai 16 Jl. Kapten Tendean Kav 12-14A - Jakarta 12790 Telepon : +6221 7917 5000 Faksimile : +6221 7918 7100 Jasa : Mewakili kepentingan pemegang
obligasi dalam rangka penerbitan Obligasi Berkelanjutan I Tahap I
Tahun 2013 dan Tahap II Tahun 2014 Penawaran Umum Berkelanjutan Obligasi Berkelanjutan I Tahap III Tahun 2015 dan Penawaran Umum Berkelanjutan Obligasi Berkelanjutan II Tahap I Tahun
2015 penerbitan Penawaran Umum Berkelanjutan Obligasi Berkelanjutan II
Tahap II Tahun 2016 dan Penawaran Umum Berkelanjutan Obligasi Berkelanjutan III Tahap I Tahun 2016.
Biaya : Rp50.000.000/tahun Periode : Juni 2013 sampai Juni 2018Penugasan
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Human ResourcesCorporate Governance
Management Discussion AnalysisProfile
Network Map and Branch Offices Address
Kep. Bangka Belitung
DKI Jakarta
Jawa Timur
D.I Yogyakarta
Jawa Tengah
Bali
Banten
Jawa Barat
Nusa Tenggara Timur
Nusa Tenggara Barat
Kalimantan Timur
Kalimantan Tengah
Aceh
Sumatera Utara
Sumatera Barat
Jambi Lampung
Sumatera SelatanBengkulu
Riau
Kepulauan Riau
Kalimantan Barat
Kalimantan Selatan
Sulawesi Barat
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Sulawesi Barat
Sulawesi Tenggara
Sulawesi Utara
Gorontalo
Sulawesi Tengah
Sulawesi Selatan
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Management Discussion AnalysisProfile
Branch Office Address
Province Branch Name Current Address Telp Fax
Aceh Banda AcehJl. Prof. Dr. Muhammad Hasan, Desa Blang Cut, Kecamatan Lueng Bata, Banda Aceh, Aceh.
(0651) 635689 -635685 (0651) 635668
Sumatera UtaraMedan
Jl. Ringroad No 104 ABC Kel Tanjung Sari Kec MedanSelayang Kota Medan Kodepos 20132 (samping Hotel Sahara Viesta)
061-8220915/ 061-8220981 -
Rantau PrapatRuko Komplek Mall Suzuya Jl. Sisingamangaraja Rantau Prapat Sumatera Utara
0624-7671497 -
Sumatera Barat
PadangJL S Parman No 236 A, Kel. Ulak Karang Barat, Kec. Padang Utara, Padang, Propinsi Sumatera Barat
(0751) 4488970 (0751) 4488972
BukittinggiRuko A1 , Jalan Raya Bukitinggi - Padang KM 5, Cingkariang, Padang Luar, Bukittinggi, Sumatera Barat 26181
0752-7839214 & 0752-7839132 -
Pekanbaru
Jl. Arifin Ahmad, Komplek Platinum Bisnis Center No 25-26, RT 003/RW 011, Kelurahan Sidomulyo Timur, Kecamatan Marpoyan Damai, Pekanbaru, Provinsi Riau 28294
(0761) 63442 -
Riau
DuriJl. Hang Tuah No. 386, DURI , Kelurahan Balai Makam, Kecamatan Mandau, Kabupaten Bengkalis, Riau
(0765) 595155 / 082883038595/ 082883038596 / 082883038597
(0765) 92078
Rokan HuluJl. Raya Jenderal Sudirman Ujung Batu, Kelurahan Ujung Batu, Kecamatan Ujung Batu, Kabupaten Rokan Hulu, Propinsi Riau.
(0762) 7363485/ (0762) 7363484 (0762) 7363486
Jambi
JambiJl. Gajah Mada No.85, RT 022/RW 006, Kelurahan Jelutung, Kecamatan Jelutung, Kota Jambi
(0741) 7550022 / 23 / 24 (0741) 7550025
Muara BungoJl.Lintas Sudirman Rt.14 Rw.05 Kel. Batang Bungo Kec. Pasar Muara Bungo, Kab. Bungo, Muaro Bungo, Jambi.
(0747) 323782 – 23 (0747) 323779
Kepulauan Riau
BatamKomplek Ruko Trikarsa Ekualita Blok A No. 38 Sungai Panas Batam Centre – Batam 29456.
(0778) 464352 / 464354 (0778) 464356
Tanjung Pinang
Ruko Grand Bintan Centre, Jl. DI Panjaitan KM 9, Kelurahan Air Raja, Kecamatan Tanjungpinang Timur, Kota Tanjungpinang, Propinsi Kepulauan Riau.
(0771) 7335756 (0771) 7335776
Bengkulu BengkuluJl. Pangeran Natadirja KM. 6,5 No. 29 RT. 02 RW. 01 Kelurahan Jalan Gedang, Kecamatan Gading Cempaka, Bengkulu
(0736) 347710 (0736) 347575
Sumatera Selatan
PalembangJl. Veteran Kompleks Ruko Rajawali No. 931-932, Kel. 9 Ilir, Kec. Ilir Timur II, Palembang, Sumatera Selatan
(0711) 378476 / 363999 / 377234 (0711) 370777
BaturajaJl. Dr. Mohammad Hatta, Kelurahan Sukaraya, Kecamatan Baturaja Timur, Kabupaten Ogan Komering Ulu, Sumatera Selatan
(0735) 322024 / 322026 (0735) 323717
LubuklinggauJl. Yos Sudarso RT 006 Kel. Majapahit Kec. Lubuk Linggau Timur I Lubuk Linggau, Sumatera Selatan
(0733) 732 9631 (0733) 732 9633
Lampung
Bandar LampungJl. Pangeran Antasari No.91C, Kel. Kedamaian, Tanjung Karang, Bandar Lampung, Lampung
(0721) 772486 / 773557 / 773614(0721) 773556 / 772487
MetroJl. AH. Nasution No.123B Rt.25 Rw.07, Yosorejo Metro Timur, Kota Metro Lampung, Lampung
(0725) 7851001 / 7850488 (0725) 7851603
KaliandaJl. Kesuma Bangsa No.127, Kel. Way Urang, Kec. Kalianda, Lampung Selatan, Lampung
(0727) 322487 / 323220 (0727) 322386
Tulang BawangJl. Lintas Timur Kampung Dwi Warga Tunggal Jaya, Kec. Banjar Agung, Tulang Bawang, Lampung
(0726) 750570 (0726) 750647
KotabumiJl. Jend. Sudirman No.88-A, Kel. Tanjung Aman, Kec. Kotabumi, Lampung Utara, Lampung
(0724) 327947 / 24934 (0724) 26124
TanggamusJl. Jend. A. Yani No.46A Pringsewu (depan BCA) Kab. Pringsewu - Lampung
(0729) 23826082880006969 / 082880066969
(0729) 22431
BandarjayaJl. Proklamator RT 015 RW 006 Lingkungan III, Kelurahan Yukum Jaya, Kecamatan Terbanggi Besar, Kabupaten Lampung Tengah, Lampung
(0725) 529691 (0725) 529690
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Kep. Bangka Belitung
Pangkal Pinang JL. Soekarno Hatta No.8A, Pangkal Pinang 33146 (62-717)436445-424630-4256615 -
DKI Jakarta
PecenonganJl. Sukardjo Wirjo Pranoto No.2/6, Kel. Kebon Kelapa, Kec. Gambir, Jakarta Pusat, DKI Jakarta
(021) 3847288 (021) 3808939
Kelapa GadingJl. Boulevard Barat Blok C No.63 A, Plaza Kelapa Gading Inkopal, Kel. Kelapa Gading Barat, Kec. Kelapa Gading, Jakarta
(021) 45851153, 45859263, 45865547, 45865546
(021) 45851157
MatramanJl. Jatinegara Timur No. 37 RT 008 RW 04, Kelurahan Balimester, Kecamatan Jatinegara, Jakarta Timur,DKI Jakarta
(021) 85917920 / 21 / 22 / 23 (021) 8519721
Tanjung DurenJL. Prof Dr Latumenten, Komplek Ruko Seasons City Blok A No. 28, Kel. Jembatan Besi, Kec. Tambora, Wilayah Jakarta Barat, Propinsi DKI Jakarta
(021) 29618062 / 63 / 64 (021) 29618065
FatmawatiJl. RS. Fatmawati, Komplek Pertokoan Duta Mas Blok A1/43, Kel. Cipete Utara, Kec. Kebayoran Baru, Jakarta Selatan, DKI Jakarta
(021) 72780653 / 72796880(021) 72780656 / 72780657
Kebon Jeruk
Ruko Rich Palace Shop House and Sweet Regency Blok B nomor 3, Jl. Raya Meruya Ilir (lapangan Bola) nomor 36-40, Kelurahan Srengseng, Kecamatan Kembangan , Jakarta Barat
(021) 58910034 / 58910035 (021) 58910068
Mampang Prapatan
Jl.Duren Tiga , Nomor 29 A-B, RT 005 / RW 001, Kelurahan Duren Tiga ,Kecamatan Pancoran, Jakarta Selatan, DKI Jakarta
(021) 79195795 / 79195796 (021) 79190567
Mangga DuaGedung WTC Mangga Dua Lantai 4 Blok AL 001 s/d AL003, Jl. Mangga Dua Raya Nomor 8, Jakarta Utara, DKI Jakarta
(021) 29986250 – 52 ( 021) 29986253
Lebak BulusJl. Karang Tengah Ruko Bona Indah Blok B/I no.8 OLebak Bulus, Jakarta Selatan 12440
(021) 27654001 (021) 27828127
Jawa Barat Pondok GedePondok Gede Plaza Blok A Nomor 34,Desa Jatiwaringin, Kecamatan Pondok Gede, Bekasi, Jawa Barat
(021) 84978710 / 84978731 (021) 84978733
Banten
CilegonJl. Raya Komplek PCI Ruko Cilegon Business Square Blok A No. 6 – 7 RT.05 RW.06, Kel. Kedaleman, Kec Cibeber, Cilegon Banten
082818931571 / 082818931572 /08281893157176
(0254) 397413
SerangRuko Ranca Utama Jl Raya Serang – Cilegon KM4 RT 03/04 Kp. Ranca Tales Kel.Drangong kec.Taktakan Serang
082818931561 - 570 (0254) 210945
Serpong (BSD)Ruko BSD Junctions Blok A39 JL. Pahlawan Seribu Kel. Lengkong Wetan Kec. Serpong Utara BSD CITY Tangerang Selatan
(021) 5382090 (021) 5382091
Tangerang IRukan Tangcity Business Park Blok D60 JL. Jendral Sudirman No.1 Cikokol Tangerang Indonesia 15117
(021) 29676323 (021) 29676324
Tangerang IIJL. Graha Boulevard Timur, Blok GBVD No. 019, Sek-Graha Gading Serpong, Desa Curugsangereng, Kec. Kelapa Dua, Kab. Tangerang, Banten.
(021) 29418978 (021) 29418971
RangkasbitungJl. Soekarno Hatta By Pass Sumur Buang Cibadak Lebak Rangkasbitung
(0252) 209765 / 082818931934 (0252) 209675
Province Branch Name Current Address Telp Fax
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Jawa Barat
BekasiRuko Mall Bekasi Square Blok RK-067, RT 001/RW 02, Kel. Pekayon Jaya, Kec. Bekasi Selatan, Kota Bekasi, Propinsi Jawa Barat
(021) 82436930 / 31 / 32 (021) 82436933
KarawangRuko Arcadia Blok XII-A, Kavling D 2-3, Galuh Mas, Kel. Sukaharja, Kec. Telukjambe, Karawang, Jawa Barat
(0267) 8457294 (0267) 8457295
DepokRukan Depok Mall Jl. Raya Margonda Blok B-1 No. 50, Kemirimuka, Beji, Depok, Jawa Barat
(021) 7756733/ 7758948/ 7759144 (021) 7756762
BogorJl. Siliwangi No. 60 B & B-1 Rt:005/004 Kel.Lawanggintung, Kec.Bogor Selatan - Bogor 16720
(0251) 8371118 / 8370195 (0251) 8332874
CibuburRuko Cibubur Time Square, Jl. Transyogi Alternatif Cibubur, Blok B4 No. 21, Kel. Jati Karya, Kec. Jati Sampurna, Kota Bekasi, Jawa Barat
(021) 84300687 (021) 84300667
Jawa Barat
CibinongCibinong City Center, Jl. Tegar Beriman Blok D No. 3B, Kelurahan Pakansari, Kecamatan Cibinong, Kabupaten Bogor, Propinsi Jawa Barat, 16916.
(021) 29577430 (021) 29577431
Bekasi 2
Ruko ROXY Blok B No.16 Lippo Cikarang, Jalan MH Thamrin Blok B No. 16, Kelurahan Cibatu, Kecamatan Cikarang Selatan, Kabupaten Bekasi, Propinsi Jawa Barat.
(021) 89903056 (021) 89903180
SukabumiJl. Otto Iskandar Dinata Nomor 80A, Kelurahan Citamiang, Kecamatan Citamiang, Sukabumi, Jawa Barat
(0266) 6247458 / 62449541 (0266) 6249245
Bandung 1Kopo Plaza Kav. C10 – 11, Jl. Peta Lingkar Selatan, Bandung, Jawa Barat
(022) 6040119 / 6040120 (022) 6074550
Bandung 2Jl. Karapitan Nomor 106 B, Kel. Cikawao, Kec. Lengkong, Bandung, Jawa Barat
(022) 4219029 / 4219039 (022) 4209829
Bandung 3Jl. Batu Nunggal Indah Raya No. 249, Bandung, Jawa Barat
(022) 87306880 -
TasikmalayaRuko Tasik Indah Plaza No.29, Jl. H.Z.Mustofa, Tasikmalaya, Jawa Barat
(0265) 344905 / 344906 (0265) 344844
CirebonRuko Kesambi Regency No. 4, Jl. Raya Kesambi, Kel. Kesambi, Kec. Kesambi, Cirebon, Jawa Barat
(0231) 210285 (0231) 210280
GarutJl.Pramuka Blok C No. 12, Komplek Ruko IBC, Kelurahan Pakuwon, Kecamatan Garut Kota, Kabupaten Garut, Provinsi Jawa Barat
(0262) 544605 (0262) 4890607
SubangJl. Otista No. 254, Kelurahan Karanganyar, Kecamatan Subang, Kabupaten Subang, Provinsi Jawa Barat
(0260) 415869 (0260) 415879
Jawa Tengah
TegalRuko Komp. Nirmala Square Blok D/2, Jl. Yos Sudarso, Tegal, Jawa Tengah
(0283) 324066 (0283) 340113
PurwokertoRuko Eks IAIN Jl. M.T. Haryono Nomor 3A-4A, Pasar Wage, Purwokerto, Jawa Tengah
(0281) 642645 (0281) 642646
SemarangRuko Mataram Plaza Blok E No. 1, Jl. MT Haryono No. 427-429, Semarang, Jawa Tengah
(024) 3589007 / 3589008 (024) 3587168
SoloRuko Adi Sucipto Jl. Adi Sucipto 67 C RT 003/RW 011 Kelurahan Kerten, Kecamatan Laweyan, Kota Surakarta, Solo, Jawa Tengah 57143
(0271) 738989 / 723557 (0271) 735038
KudusJL. AKBP R Agil Kusumadya NO 32 RT 002 RW 001 Kelurahan Jati Kulon Kecamatan Jati, Kudus-59347
0291-4252070/ 4252037 (0291) 4250271
MagelangRuko Grand Viko No.12 A, Jl. Soekarno Hatta, Kel. Rejowinangun Utara, Kec. Magelang Tengah, Magelang, Jawa Tengah
(0293) 312406 / 3218686 (0293) 310536
PekalonganJl. Dr. Sutomo Blok B2 No. 10, Komplek Ruko Dupan Square, Kelurahan Baros, Kecamatan Pekalongan Timur, Kota Pekalongan, Provinsi Jawa Tengah
(0285) 4420100 -
D.I Yogyakarta YogyakartaRuko Sumber Baru Square Kav.W Jl.Ringroad Utara Jombor Sendangadi Mlati Sleman Yogyakarta (Depan Kampus UTY Jombor)
(0274) 860 9901 / 8609902 (0274) 446 9718
Province Branch Name Current Address Telp Fax
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Jawa Timur
Surabaya 1Jl. Raya Tenggilis No. 23 Ruko Tenggilis Square Kav 5 & 6 RT 005 RW 002 Kelurahan Kendangsari, Kecamatan Tenggilis Mejoyo, Surabaya.
(031) 8420450 (031) 8420495
Surabaya 2Jl. Raya Tenggilis No. 23 Ruko Tenggilis Square Kav 5 & 6 RT 005 RW 002 Kelurahan Kendangsari, Kecamatan Tenggilis Mejoyo, Surabaya.
(031) 8420450 (031) 8420495
Malang Jl. Letjen Sutoyo No. 55, Malang, Jawa Timur (0341) 486432 (0341) 486429
KediriJl. Kawi, Ruko Mojoroto Indah Kav. 20, Kel. Mojoroto, Kec. Mojoroto, Kediri, Jawa Timur
(0354) 779239 (0354) 780911
JemberRuko Gajah Mada Square A9, Jl. Gajah Mada No.187, Kel. Kaliwates, Kec. Kaliwates, Jember, Jawa Timur
(0331) 425959 / 426969 (0331) 483939
MadiunJl Mayjend Panjaitan Blok A2, Perum Gading Indah, Kel. Pandean, Kec. Taman,Kota Madiun, Propinsi Jawa Timur
(0351) 473176, 476198,476298/ 08283010067
(0351) 473123
TubanJl. Diponegoro No.34 C, Kel. Latsari, Kec. Tuban, Tuban, Jawa Timur
(0356) 326381 (0356) 325289
MojokertoJl. Mojopahit 456, Kelurahan Kranggan, Kecamatan Prajurit Kulon, Kota Mojokerto, Propinsi Jawa Timur.
(0321) 329688 (0321) 329611
Gresik
Ruko Kartini Megah Kav. A10, Jl. RA Kartini No. 150-152 RT 003/RW 007, Kelurahan Sidomoro, Kecamatan Kebomas, Kabupaten Gresik, Propinsi Jawa Timur.
(031) 3985189 (031) 3985188
BaliDenpasar
Jl. Buluh Indah no.53D Kel. Pemecutan Kaja Kec. Denpasar Utara Bali 80118
(0361) 8469893-96 / 8469898 (0361) 8469897
GianyarJl. Erlangga No.15 C, Kel. Gianyar, Kec. Gianyar, Gianyar, Bali
(0361) 944478 / 944480 / 944488 (0361) 941055
Nusa Tenggara Barat
MataramJl. Jatinegara Timur No 37 Kelurahan Balimester kecamatan Jatinegara RT 008 RW 004 Jakarta Timur.
(021) 85917920-23 -
Kalimantan Barat
Pontianak“Jl. Ahmad Yani Komplek Sentra Bisnis Ayani Megamall Blok B No 23 Kecamatan Pontianak Selatan Kota Pontianak 78121 Kalimantan Barat
(0561) 761195 (0561) 6655718
BanjarmasinJl Simpang 4 sultan adam , komp ruko STIHSA no 3, Sungai Andai, Banjarmasin, Kalimantan Selatan.
(0511) 4315662 (0511) 4315663
BanjarbaruJl. Jend. A.Yani KM.35 Ruko Fortuna No.48 RT 005/RW 001, Kel. Gunung Paikat, Kec. Banjarbaru Selatan, Banjarbaru, Kalimantan Selatan
(0511) 4772067 (0511) 4772063
Kalimantan Tengah PalangkarayaJl. Cilik Riwut Km. 3, Kelurahan Palangka, Kecamatan Jekan Raya, Palangkaraya, Kalimantan Tengah
(0536) 3224277 / 087858566000 (0536) 3224677
Kalimantan Timur
SamarindaJl. Wahid Hasyim No. 26 C RT. 011 Kel. Sempaja Selatan,Kecamatan Samarinda Utara, Propinsi Kalimantan Timur
(0541) 7273930 -
BalikpapanJl. MT. Haryono No.12 Rt.33 Kel. Sungai Nangka Kec. Balikpapan Selatan, Balikpapan-Kalimantan Timur
0542-7206520 -
TarakanJl Yos Sudarso Rt 14 No 5 Kel Selumit Pantai Kec Tarakan Tengah
(0551) 2029620 / 2029621 / 2029625
0551-2029625
BontangJl. Samratulangi No. 79, Kelurahan Tanjung Laut Indah, Kecamatan Bontang Selatan, Kota Bontang, Provinsi Kalimantan Timur
(0548) 24488 / 24499 (0548) 24441
Sulawesi Selatan
MakassarJl. Veteran Selatan No. 311, Kel. Mamajang Dalam, Kec. Mamajang, Makassar, Sulawesi Selatan
(0411) 832789 / 832567 (0411) 832678
ParepareJl. Sultan Hasanuddin No. 16 A, Kelurahan Ujung Sabang, Kecamatan Ujung, Pare-Pare, Sulawesi Selatan
(0421) 28622 / 28623 / 28652 (0421) 28607
Sulawesi Tenggara KendariKompleks Senapati Land Blok A No. 14, Jl. Brigjend M. Yunus By Pass Kendari, Kel. Bende, Kec. Kadia, Kendari, Sulawesi Tenggara
(0401) 3135093 / 3135094 (0401) 3135085
Sulawesi Utara ManadoJl. Pierre Tendean Boulevard, Komp. Ruko Marina M. Walk Blok RB No. 49, Kel. Titiwungen Selatan, Kec. Sario, Manado, Sulawesi Utara
(0431) 8820200 / 88820204 -
Province Branch Name Current Address Telp Fax
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Sulawesi Tengah PaluJl. Emmy Saelan Nomor 38, Kel. Tatura Utara, Kec. Palu Selatan, Palu, Sulawesi Tengah
(0451) 454139 (0451) 454806
LuwukJl. Urip Sumoharjo no. 18B, Kel. Keraton, Kec. Luwuk, Kab. Banggai, Sulawesi Tengah 94711
(461) 22157/23128 -
Gorontalo GorontaloJl. Nani Wartabone No 131 , Kelurahan Heledulaa Selatan, Kecamatan Kota Timur, Propinsi Gorontalo
(0435) 822315 (0435) 822314
Kalimantan Tengah SampitJl Pangeran Antasari Ruko No 7, Kel Mentawa Baru, Ketapang, Kec Ketapang Sampit, Kalimantan Tengah
(0531) 23216 -
Kalimantan Barat SintangJl Lintas Melawi Komplek Ruko Golden Square Blok A 9 RT 3 RW 01 Kel Ladang Kec Sintang
(0565) 2022080 / 2022072 -
Sulawesi Utara KotamobaguKel Mogolaing Kec Kotamobagu Barat Samping SDN 1 Mogolaing
(0434) 2621540 -
Sulawesi Barat MamujuJl. Jendral Sudirman ( Depan Hotel Tipalayu ) Mamuju, Sulawesi Barat
081241418885 -
NTT KupangJl. Timor Raya RT011/RW004 Kel. Oesapa Barat, Kelapa Lima, Kupang
081237571752 -
No Main Branch Satellite Office Address
1 Padang Pasaman Barat Nagari Lingkungan Aua, Kec. Pasaman, Kab. Pasaman Barat, Propinsi Sumatera Barat.
2 Bukit Tinggi Solok
Jalan Kyai Haji Ahmad Dahlan (Pandan Dekat), Kel. Pasar Pandan Air Mtai, Kec. Tanjung Harapan,
Kotamadya Solok, Propinsi Sumatera Barat.
3 Pangkal pinang Belitung
Jalan Merdeka, Dewa Kelurahan Kota, Kec. Tanjung Pandan, Kab. Belitung, Propinsi Kepulauan
Bangka Belitung.
4 Baturaja Lahat
Jalan Mayor Ruslan II, Komplek Pertokoan Citra Niaga Lahat, Kel. Pasar Baru, Kec. Lahat, Kab.
Lahat, Sumatera Selatan.
5 Palembang 2 Tugu Mulyo
Jalan Lintas Timur, Kampung III, RT 001, Kel. Tugu Mulyo, Kec. Lempuing, Kab Ogan Komering Ilir,
Propinsi Sumatera Selatan.6 Bandung 2 Sumedang Jalan Prabu Geusan Ulun No. 137, Sumedang, Jawa Barat7 Cirebon Indramayu Desa Karanganyar, Kec. Kandanghaur, Keb. Indramayu, Jawa Barat.8 Purwokerto Banjarnegara Jalan S. Parman nomor 31 Banjarnegara Kel. Semarang Kec. Banjarnegara Propinsi Jawa Tengah9 Purwokerto Cilacap Jalan A. Yani No.100 RT. 03 RW.14, Kel. Sidakaya, Kec. Cilacap Selatan, Kab. Cilacap.
10 Semarang Salatiga Kel. Salatiga, Kec. Sidorejo, Kota Salatiga, Propinsi Jawa Tengah.11 Mataram Sumbawa Jalan Diponegoro No 10 Kel. Bugis, Kec. Sumbawa, Kab. Sumbawa, Propinsi Nusa Tenggara Barat.12 Gianyar Singaraja Jalan A. Yani Nomor 60, Kel. Kaliuntu, Kec. Buleleng, Kab. Buleleng, Provinsi Bali.
13 Kediri Blitar
Ruko Merdeka Trade Center, Jalan A. Yani No.7, Kel. Kepenjelor, Kec. Kepanjen Kidul, Kota Blitar,
Propinsi Jawa Timur.14 Gresik Lamongan Jalan Lamongrejo No. 120, Kel. Sidokumpul, Kec. Lamongan, Kab. Lamongan, Jawa Timur.15 Malang Pasuruan Jalan Panglima Sudirman No.11, Pasuruan.16 Makassar Bone Jalan Bajoe Desa Watampone, Kec. Tanete Riattang, Kab. DT II Bone, Sulawesi Selatan.17 Kendari Kolaka Jalan Chairil Anwar, Kel. Lomokato, Kec. Kolaka, Kab. Kolaka18 Gorontalo Marisa Desa Buntulia Selatan, Kec. Duhiadaa, Kab. Pohuwato, Propinsi Gorontalo.
19 Makassar Bulukumba
Jalan Doktor Sam Ratulangi, Kel. Caile, Kec. Ujung Bulu, Kab. Bulukumba, Propinsi Sulawesi
Selatan.20 Pare-pare Palopo Keluruhan Surutanga, Kec. Wara Timur, Kota Palopo21 Bandar Lampung Bandar Lampung Kelurahan Kedaton, Kecamatan Kalianda, Kabupaten Lampung Selatan, Propinsi Lampung
Satellite Office Address
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Corporate Governance
Overview of Operations Per Segment
The Company’s operating segments are divided by main customer and product groups, as follows: Fleet and Retail. In determining the segment results, some accounts of assets and liabilities and revenue and associated costs attributable to each segment based on internal management reporting policies.
The following summary describes the operations of each segment in the Company’s reporting segments:
FleetIncluded in the reporting segments are fl eet entire operating segments assessment indicators that can actually be attributed as part of the financing for corporate customers.
RetailIncluded in the retail segment reporting are all indicators of the operating segments assessment that can actually be attributed as part of consumer financing for individual customers.
OthersIncluded in the other segment reporting is operating segment reporting information relating to the activities of the treasury and the central office as bank interest income and general and administrative expenses that can not be allocated.
Information about the results of each business segment is presented below. Performance is measured based on segment profit before income tax, as reported in the internal management reports are reviewed by the Company’s management. Advantage segment is used to measure the performance of which the management believes that such information is most relevant in evaluating the results of the segments relative to other entities that operate within these industries.
Management Discuss Analysis
Business segment informationRetail Fleet
Other TotalCar Motorcycle Car Motorcycle
IncomeCustomer financing 1.609.802 71.570 89.664 1.229 - 1.772.265Finance lease 13.894 - 78.413 - - 92.307Interest 12 1 - - 10.086 10.099Others - Net 526.726 16.069 31.621 182 - 574.598Total Income 2.150.434 87.640 199.698 1.411 10.086 2.449.269ExpenseFinancial expense (768.338 ) (33.820 ) (118.211 ) (894 ) - (921.263)Salaries and Benefit Expense (199.648 ) (14.335 ) (10.404 ) (23 ) (117.678) (342.088)General and Administration expense (232.605 ) (10.696 ) (5.323 ) (1 ) (61.215) (309.840)
Impairment Losses Allowance (366.227 ) (33.988 ) (27.007 ) 29 - (427.193)Total expenses (1.566.818 ) (92.839 ) (160.945 ) (889) (178.893) (2.000.384)Income (loses) before final tax and income tax 583.616 (5.199) 38.753 522 (168.807) 448.885
Total Assets 8.633.460 254.727 1.713.167 8.255 794.453 11.404.062Total Liabilities 7.966.907 233.786 1.531.315 7.374 190.551 9.929.933
31 Desember 2016 (in million rupiah)
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Financial performance
In 2016, the Company posted profit amounting to Rp335,4 billion increase from the previous year by 9.31% compared to 2015 amounting to Rp306,8 billion. This increase is a result of the achievement of company performance can be seen from the segment operating income in the statement of profit and loss that virtually all segments have increased.
Financial review is based on the Company’s Financial Statements for the year ended December 31, 2016. The Financial Statements have been audited by Purwantono, Sungkoro & Surja with unqualified opinion.
Financial position
AssetThe position on December 31, 2016, the Company’s total assets reached Rp11 trillion, an increase of 23.92% compared to 2015 which only amounted to Rp 9 trillion. The increase was caused by rising consumer financing receivables portfolio amounted to 22.65% or valued at Rp1.78 trillion, which is one indicator of the growing achievements of the company’s operating performance.
Statement of Financial Statement (Assets) (in million rupiah)
DescriptionChanges
2016 2015 %
AssetsCash and cash equivalentCash 24.074 19.938 20,74%Cash in Bank
- Third party 21.483 3.187 574,80%- Related party 212.337 68.841 208,45%
257.894 91.966 180,42%Customer financing receivable
- Third party 9.956.989 8.148.026 22,20%- Related party 10.532 5.886 78,93%
9.967.521 8.153.912 22,24%Less: Impairment losses allowance (298.650) (270.477) 10,42%
9.668.871 7.883.435 22,65%Financial Lease ReceivableThird party 834.483 604.150 38,13%Less: Impairment losses allowance (4.538) (5.791) -21,64%
829.945 598.359 38,70%Other receivable
Third party 69.420 76.923 -9,75%Related party 274.585 388.421 -29,31%
344.005 465.344 -26,08%Impairment losses allowance (785) (785) -
343.220 464.559 -26,12%Deferred asset tax 23.079 19.907 15,93%Claim for tax refund 65.538 -Fixed assets 141.322 102.852 37,40%Other assets
Third Party 73.061 41.081 77,85%Related Party 1.132 835 35,57%
Total Assets 11.404.062 9.202.994 23,92%
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Discussion And Analysis Of Financial Performance (FA Division)The following analysis of financial performance prepared based on the Company’s Financial Statements, which have been audited by Purwantono, Sungkoro & Surja (a member firm of Ernst & Young Global Limited) for the fiscal year ended December 31, 2016 and December 31, 2015.
Statement of Financial PositionAssetThe position on December 31, 2016, the Company’s total assets reached Rp 11 trillion, up 24.00% compared to 2015 amounting to Rp 9 trillion. The increase was due to higher consumer financing receivables portfolio in line with the increase in the volume of consumer financing.
The Company in its business which is engaged in consumer financing and leasing in accordance with IAS 1 (revised 2009 concerning the presentation of financial statements that apply retrospectively effective from January 1, 2011) was not present in classification of assets into the category of current assets and non-current assets.
a. Cash and Cash EquivalentsIn 2016, the balance of cash and cash equivalents totaled Rp257,89 billion, an increase of Rp 165.93 billion or 180.42% compared with the balance of cash and cash equivalents of the Company in 2015 amounted to Rp 91.97 billion. The increase was primarily due to increases in cash which was placed on the bank of Rp 72.03 billion in 2015 to Rp 233.82 billion in 2016.
b. Consumer Financing ReceivablesConsumer financing receivables of the Company in 2016 was recorded at Rp9,7 trillion, an increase of Rp1.78 trillion or 22.65% compared with the balance of consumer financing receivables of the Company in 2015 amounted to Rp7,9 trillion. The increase was primarily due to increases in the realization of new financing. Realization of new financing for 2016 amounted to Rp18.6 trillion, or an increase of 1.5 trillion or 8.8% from the previous year’s realization of Rp17,1 trillion.
Principal of joint financing receivables increased by 13.72% from the previous year due to an increase in new lending joint financing of 0.54 billion or 5.19% of 2015 amounted Rp10,41 trillion to Rp10.95 trillion in 2016. Followed principal self financing receivables (non-joint fnancing) increased by 22.65% from the previous year due to an increase in new lending non joint financing amounted to Rp0.9 trillion, or 13.43% of 2015 amounted Rp6,7triliun be by Rp7.6 trillion in 2016. this suggests that the growth of new lending increased quite good company which is promoted by the development of the automotive industry which is highly prospective.
Table of Cash and Cash Equivalent
Cash and Cash Equivalent 2016 2015 Changes
Cash 24.074 19.938 20,74%
Cash in bank
Third party 21.465 3.169 577,34%
Related party 162.334 18.838 761,74%
Tine deposit
Third party 18 18 0,00%
Related party 50.003 50.003 0,00%
Total 257.894 91.966 180,42%
(In million Rupiah)
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c. Finance Lease ReceivablesSince 2011, the Company has started to carry out a transaction or the fnancial lease finance lease. The transaction is managed by the COP and Fleet Division for financing commercial vehicles and heavy equipment company. In 2016, with the support of the Commercial and Corporate Banking of Bank Mandiri, the COP and Fleet Division increased focus on the financing of four-
wheeled vehicles, especially passenger vehicles (passenger) employees of the Company, and heavy truck vehicles to the infrastructure industry, distribution and transport. In 2016, the Company increased finance lease receivables amounting to Rp 275.48 billion to Rp975,59 billion, compared with a balance of finance lease receivables last year amounted to only Rp700,11 billion.
d. Other receivablesThe composition of the total other receivables of the Company consists of third parties and related parties. Other receivables is largely a third party billing to insurance companies in connection with claims ekseptasi, while other receivables related parties are transactions with PT Tunas Ridean Tbk respect to the Company’s operations. The balance of other receivables of the Company in 2016 amounted Rp343,22 billion decreased by Rp121,34 billion compared to the Company’s accounts receivable balance in 2015 amounted to Rp464,56 billion. The decrease was primarily due to lower recognition of joint financing receivables at the end of December 2016 amounted to Rp227,99 billion compared to 2015 amounting to Rp354,31 billion or decreased Rp126,32 billion.
e. Fixed assetsThe balance of the Company’s fixed assets in 2016 amounted Rp141,32 billion, an increase of Rp38,47 billion or 37.40% compared with the balance of the Company’s fixed assets in 2015 amounted to Rp102,85 billion. The increase was primarily due to the addition of assets such as land, buildings, fixtures and office equipment as well as the renovation of a building lease in line with the Company’s business expansion. The addition of land assets worth Rp3,21 billion and amounted to Rp2.37 billion building located at Jalan A Yani Ko Business Centers B35-36 RW 010 RT 001 Pontianak. Extra Rp2,55 billion worth of land and buildings by Rp1,66 billion, which is located in Cibubur
Table of Customer Financing
Customer Financing Receivable 2016 2015 Changes
Joint financing receivables 23.690.880 20.906.390 13,32%
Direct financing receivables 13.398.790 11.169.838 19,96%
Total of managed financing receivables 37.089.670 32.076.228 13,40%
Principals of joint financing receivables 20.470.388 18.000.423 13,72%
Total principals of financing receivables 30.437.909 26.154.335 16,38%
Allowance for doubtful account (298.650) (270.477) 10,42%
Net account receivables 9.668.871 7.883.435 22,65%
Allowance for doubtful account 1,49% 1,20% 24,17%
(In million Rupiah, except*)
Table of Finance Lease
Finance Lease Receivables 2016 2015 Changes
Finance lease receivables - Gross 975.598 700.117 39,35%
Guaranteed residual value 317.305 226.130 40,32%
Unearned leased income (141.115) (95.967) 47,05%
Security Deposit (317.305) (226.130) 40,32%
Allowance for Doubtful Account (4.538) (5.791) -21,64%
Total finance lease receivable 829.945 598.359 38,70%
(In million Rupiah)
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PT Mandiri Tunas Finance96Annual Report 2016
Timesquare Blok B-4 / 22-23 Bekasi. The addition of land and buildings in Makassar and Palembang for Rp15,15 billion as construction in progress, office equipment, Rp30,78 billion, Rp 3.4 billion for renovation of the building lease.
f. Deferred tax assetsIn 2016, the balance of the Company’s deferred tax assets recorded at Rp23,08 billion, an increase of Rp3,17 billion or 15.93% compared with the balance of the deferred tax assets of the Company in 2015 amounted to Rp19,91 billion. This increase was mainly due to higher deferred tax on additional fiscal correction of temporary differences for employee benefits.
g. Tax advantages billOn January 25, 2016 and 25 Oktober2016, the Company received tax assessment letters (SKPKB) and Tax Collection Letter (STP) of various taxes for fiscal years 2013, 2012 and 2011, which resulted in underpayment of Rp172.497.
For underpayment of the Company has made payments totaling Rp67.634, where from these payments, the Company is in the process has complained of Rp65.54 billion and Rp21 billion recorded as expenses tax penalty in the statements of income and other comprehensive income. For the amount of unpaid amounted to Rp104.86 billion, the Company is already in the process of filing an objection to the Tax Office.
h. Other AssetsThe balance of other assets of the Company in 2016 amounted Rp74,19 billion, an increase of Rp32,27 billion or 77.00% compared with the balance of other assets of the Company operations in 2015 amounted to Rp41,92 billion. The increase was primarily due to increases in the Company’s deposits in transit (repayment of consumer financing through the post office, Alfamart and Pegadaian) of Rp14,94 billion over increasing assets under management of the Company.
Liability
Statement of Financial Position (Liability) (In million Rupiah)Description 2016 2015 Changes
Liability and Equity Trade Payables 593.910 390.262 52,18%Other Payables
Third Parties 150.048 110.205 36,15% Related Parties 106.733 44.803 138,23%
Current Tax Liability 13.594 20.462 -33,56%Accrued Expenses
Third Parties 86.794 91.142 -4,77% Related Parties 3.333 4.933 -32,43%
Bank Loans Third Parties 3.293.873 3.412.510 -3,48% Related Parties 2.327.619 2.088.833 11,43%
5.621.492 5.501.343 2,18%Unamortized Provision Cost (12.340) (14.753) -16,26%
5.609.152 5.486.590 2.23%Serurities Issued
Third Parties 2.244.000 1.217.250 84,35% Related Parties 1.081.000 632.750 70,84%
3.325.000 1.850.000 79,73%Unamortized Issuance Cost (8.766) (4.590) 90,98%
3.316.234 1.845.410 79,70%Employee Benefits Liabilities 50.135 36.549 37,17%Total Liabilities 9.929.933 8.030.356 23,65%
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PT Mandiri Tunas Finance 97Annual Report 2016
Liabilities of the Company increased by 23.65% from Rp 8 trillion in 2015 to Rp9.9 trillion in 2016, an increase of Rp1.9 trillion in 2016. The increase was largely attributable to the increased portfolio of securities issued which amounted to Rp1.8 trillion in 2015 increased by 79.70% or increased by Rp1.4 trillion into Rp 3.3 trillion in 2016.
The Company in its business which is engaged in consumer finance and consumer finance lease in accordance with SFAS No. 1 (revised 2009 concerning the presentation of financial statements that apply retrospectively effective from January 1, 2011) was not present in classification of debt in the category of short-term debt and long-term debt.
a. Accounts payableIn 2016, the amount of debt the Company’s business consists of the debt to a third party, either debt or debt vehicle insurance amounted Rp593,91 billion increased by 52.18% or by Rp203,65 billion compared with the amount payable to third parties in 2015 by Rp390,26 billion. The increase was due to an increase in debt to the supplier of vehicles with increased financing volume during 2016.
b. Other PayableOther payables of the Company consists of debt owed to a third party loans to related parties. In 2016, the amount of other payables to third parties of the Company amounted to Rp150,05 billion, an increase of Rp39,84 billion or 36.15% compared to the amount owed to third parties etc. in 2015 amounted Rp110,21 billion. The increase was due to the recognition of liabilities to third parties related to the Company’s non-operational transactions. In 2015, the amount of other payables to related parties of the Company amounted to Rp106,73 billion, an increase of Rp61,93 billion or 138.23% compared with the amount of other debt other related parties amounted Rp44,80 billion in 2015.
c. Current tax payableBy 2016, the number of the Company’s tax debts amounting been earmarked at Rp13.59 billion, down by Rp6,87 billion or 33.56% compared with the number of Company tax debt in 2015 amounted to Rp20,46 billion. This decrease was due to increased accuracy of calculation of income tax Article 25 installments every month.
d. Accrued ExpensesIn 2016, the amount of accrued expenses of the Company amounted to Rp90,13 billion or decreased by Rp5,95 billion or 6.19% compared to the amount of accrued expenses of the Company in 2015 amounted to Rp96,08 billion. The decline was mainly due to the speed and timeliness of payment of the Company in 2016.
e. Bank loansIn 2016, the number of bank loans of the Company amounting to Rp5.6 trillion, an increase of Rp0.1 trillion or 2.18% compared with the number of bank loans of the Company in 2015 amounted to Rp5.5 trillion. The increase was due to higher the realization of new financing financed from bank loans as the growth of our business.
f. Securities IssuedBy 2016, the number of securities issued by the Company amounted to Rp3.32 trillion, an increase of Rp1.47 trillion or 79.73% compared with the number of securities issued by the Company in 2015 amounted to Rp1.85 trillion. The increase was due sustainable Bonds Bonds II Phase II and III ongoing phase I Rp1.4 trillion and Rp 500 billion by the Company and the repayment of sustainable Bonds I Phase I amounting to Rp425 billion.
g. Employment benefit liabilitiesBy 2016, the number of the Company’s liabilities for employee benefits amounting Rp50,14 billion, an increase of Rp13,60 billion or 37.17% compared with the amount of liabilities for employee benefits in 2015 amounted to Rp36.5 billion. The increase was primarily due to increases in total beneft employees receive and the number of permanent employees of the Company.
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PT Mandiri Tunas Finance98Annual Report 2016
Statements of Income and Other Comprehensive IncomeOperating revenuesThe Company recorded a profit in 2016 amounted to Rp335 billion. Net income increased by 9% from the previous year, 2015, which amounted to only Rp306 billion. This increase is supported by the company’s revenue increased by 23% from last year’s revenue portfolio
Shareholders’ equity increased by 25.71% during 2016, an increase of Rp301 billion which in 2015 amounted to 1.17 trillion into Rp1.47 trillion. This increase was caused by an increase in retained earnings of undetermined usage amounted to 34.46% or Rp304 billion which in 2015 amounted to Rp884 billion increase to Rp 1.18 trillion in 2016.
Equity
Statement of Financial Position (Equity) (In million Rupiah)
Description 2016 2015 Changes
Equity Issued and Fully Paid up Capital 250.000 250.000 0,00%Actuarial losses on employee benefits liabilities (14.695) (11.496) 27,83%Retained earnings - Appropriated 50.000 50.000 0,00%- Unappropriated 1.188.824 884.134 34,46%Total Equity 1.474.129 1.172.638 25,71%
Statement of Comprehensive Income In million rupiah
Description 2016 2015 Changes
RevenueIncome from customer financing 1.772.265 1.423.223 24,52%Financial Leases 92.307 99.641 -7,36%Interest 10.099 7.672 31,63%Others-Net 574.598 456.996 25,73%Total Revenues 2.449.269 1.987.532 23,23%ExpensesFinancial expense (921.263) (703.121) 31,02%Salaries and Benefits expense (342.088) (304.698) 12,27%General and administrative expense (309.840) (279.747) 10,76%Provision for Doubtful Account
Consumer financing (426.997) (291.487) 46,49%Financial lease (196) 2.356 -108,32%Other Receivable - 9 00,00%
Total expense (2.000.384) (1.576.688) 26,87%INCOME BEFORE TAX EXPENSE 448.885 410.844 9,26%TAX EXPENSE (2.020) (1.534) 31,68%INCOME BEFORE INCOME TAX EXPENSE 446.865 409.310 9,18%INCOME TAX EXPENSE (111.495) (102.510) 8,76%CURRENT YEAR INCOME 335.370 306.800 9,31%OTHER COMPREHENSIVE INCOMEItem that will not be reclassified to profit or lossActuarial profit (loss) on employee benefit liabilities (4.266) (7.221) -40,92%
Income tax effect 1.067 1.805 -40,89% Other comprehensive income-net of tax (3.199) (5.416) -40,93%
TOTAL CURRENT COMPREHENSIVE INCOME 332.171 301.384 10,22%BASIC EARNING PER SHARE (RUPIAH) 134 123 8,94%
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Income statementIncomea. Consumer Financing Revenues
In 2016, consumer financing income for 2016 amounted to Rp1.77 trillion, increased by 24.52% or by Rp349,04 billion compared with consumer financing income in 2015 reached Rp1,42 trillion.
This increase is due to the realization of new financing has increased in 2016. The realization of new financing for 2016 amounted to Rp18.6 trillion, up 1.5 trillion or 8.8% of realization in 2015 amounted Rp17,1 trillion.
b. Finance Lease IncomeFinance lease income in 2016 was Rp 92.31 billion, decreased 7:36% or decreased by Rp7,33 billion compared to finance lease income in 2015 amounted Rp99,64 billion.
c. Interest incomeInterest income in 2016 amounted Rp10,1 billion. Interest income in 2016 increased by 31.63% or by Rp2,43 billion compared to revenues in 2015 reached Rp7,67 billion. The increase was due to the Company’s policy to optimize settles funds to productive enterprises.
d. Other net incomeThe Company recorded net Other income in 2016 amounted to Rp574,60 billion, an increase of 25.73% or Rp117,60 billion when compared to other income in 2015 amounted to Rp457 billion. This increase was due to increased fee based income in line with the increase in new financing of the Company.
Current year profitCurrent Year Profit of the Company in 2016 amounted Rp335,37 billion, an increase of 9:31% when compared to the Company’s Earnings Current Year 2015 which was recorded at Rp306,80 billion. Increase in Current Year Profit is caused by several factors, among others:• Increased income from consumer financing and
finance lease revenue decline in 2016, respectively amounted Rp349,04 billion and Rp7,33 billion, with the growth of our business.
• Increased income from fee-based company in 2016 amounted to Rp117,60 billion, primarily from insurance commission income, penalties and revenue billing in line with business growth and diversification of products by the Company..
Earnings Per ShareThe Company recorded earnings per share of Rp123 per share in 2015 to Rp134 per share in 2016. This increase was due to an increase in earnings of the Company amounted to Rp335,37 billion in 2016 compared to 2015 which only amounted to Rp306.8 billion or rose 9.31% or Rp28,57 billion
Table of Profit and Loss
Statement of Income Statement 2016 2015 Changes
Revenue 2.449.269 1.987.532 23,23%
Expense 2.000.384 1.576.688 26,87%
Income before tax 448.885 410.844 9,26%
Tax expense 113.515 104.044 9,10%
Current income 335.370 306.800 9,31%
Total comprehensive income 332.171 301.384 10,22%
(In million rupiah)
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ExpensesTotal expenses incurred in 2016 amounted to Rp2 trillion, an increase of 26.87% from the previous year. This increase is largely influenced by increased financial expenses amounted to 31.02%, OCI of Rp921 billion from the previous year amounting to Rp703 billion. This is in line with the increased liability company with a public offering of bonds that did occur in 2016.
Throughout the last 4 years the company’s revenue increased in line with the company’s expense. It identifies an increase in the company’s operating performance improved. And when connected to the chart of corporate profits, corporate profits also increased. It also identifies the company’s operations continue to increase from year to year, while preserving the efficiency and effectiveness of the company’s operations.
Expensesa. Financial Expenses
In 2016, the Company recorded financial expenses amounting Rp921,26 billion increased by 31.02% or by Rp218,14 billion compared with the load in 2015 which reached Rp703,12 billion. The increase was caused by the increase in the number of securities issued by the Company amounted to Rp3.32 trillion, an increase of Rp1.74 trillion or 79.73% compared with the number of securities issued by the Company in 2015 amounted to Rp1.85 trillion to support the achievement target of consumer finance company financed itself.
b. Salaries and AllowancesSalaries and employee benefits in 2016 amounted to Rp342,09 billion, an increase of Rp37,39 billion
or 12.27% of salaries and allowances in 2015 amounted Rp304,69 billion.
c. Expenses General and administrativeGeneral and administrative expenses of the Company in 2016 amounted to Rp309,84 billion, an increase of 10.76% or Rp30,09 billion from 2015 were recorded at Rp279,75 billion. This increase was largely due to higher operating and maintenance costs of infrastructure branches during the year 2016 to support the financing target new customers. Operational costs include the cost of rent, the building, maintenance, utilities office, business travel and asset management (billing) branches to support the achievement of new financing.
0
500
1000
2013 2014 2015 2016
1500
2000
2500
3000
176234 307 335
1.514
1.988
2.449
1.166
929
1.201
1.577
2.000
Total Revenue
Total Expense
Total Current Income
in Billion RupiahGRAPH OF REVENUE, EXPENSE AND INCOME
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Allowance for loss of valueThe Company has a provision for impairment losses in 2016 amounted Rp427,19 billion increased by 47.76% or by Rp138,07 billion compared to 2015, which reached Rp289,12 billion. This increase is mainly due to the increase in the allowance for impairment losses (CKPN) of consumer financing for Rp135,51 billion or 46.49%, of Rp291,48 billion in 2015 to Rp426,9 billion in 2016. The increase in the allowance for impairment losses on consumer financing is more due to higher balances of consumer financing receivables amounting to Rp1.8 trillion or 22.24% compared with the balance of consumer financing receivables of the Company in 2015 amounted to Rp8,15 trillion.
In general in 2016 the method of calculation of allowance for impairment losses have been applied more relevant.
Cash flow
Cash Flow is one component of the financial statements which includes the effect of cash from operating activities, investing activities and the activities of transaction transaction financing / funding and the increase or decrease in net cash in an enterprise during a period
Table of General and Administation Expense
General and Administation Expense 2016 2015 Changes
Collection fee 161.368 137.220 17,60%
Rent 34.681 31.538 9,97%
Depreciation of fixed assets 20.880 17.670 18,17%
Communication service 15.297 13.870 10,29%
Repairs and maintenance 11.896 9.981 19,19%
Security 11.484 10.046 14,31%
Business trip 6.657 12.405 -46,34%
Third party services 6.643 8.983 -26,05%
Utilities 5.941 5.628 5,56%
Stationeries and printings 5.660 6.560 -13,72%
OJK fees 4.925 3.830 28,59%
Corporate entertainment 4.218 4.364 -3,35%
Recruitment and training 3.667 3.335 9,96%
Professional fees 3.129 2.109 48,36%
Others 13.394 12.208 9,71%
Total general and administrative expense 309.840 279.747 10,76%
(In million Rupiah)
Statement of Cash Flow (In million Rupiah)Description 2016 2015 Changes
CASH FLOW FROM OPERATION ACTIVITYCash receipt from customer:- Customer financing 26.126.969 20.233.500 29,13%- Finance lease 501.965 552.175 -9,09%Interest 10.132 7.682 31,89%Penalties revenue 39.418 33.724 16,88%Revenue from written off receivable 55.179 40.955 34,73%Insurance premium 1.511.084 1.361.802 10,96%Cash expenditure for:Joint facility financing payment (7.815.580) (3.700.664) 111,19%Vehicle distributor payment (19.091.556) (18.043.198) 5,81%Financial expense payment (898.869) (699.881) 28,43%Income tax payment (122.487) (99.836) 22,69%
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Statement of Cash FlowCash Flowa. Cash Flow from Operating activities
Net cash used in operating activities in 2016 amounted to Rp1,33 trillion, down 21.91% from 2015 amounting Rp1,70 trillion. This decrease was caused by the increase in revenues from consumer financing amounted Rp5,89 trillion which is compensated by the increase in payments to dealers amounted to Rp1.05 trillion vehicles. The increase in cash used has contributed also by the increased payments joint financing facility amounting Rp4,11 trillion.
b. Cash flow from investing activitiesIn 2016, net cash used in investing activities amounted to Rp59,27 billion, up 28.92% compared to 2015 amounting to Rp45,97 billion. Net cash used in investing activities primarily for
the acquisition of fixed assets in connection with the addition of new business networks, especially in infrastructure, furniture, office equipment, land and buildings.
c. Cash flows from financing activitiesIn 2016, net cash provided by financing activities amounted to Rp1.56 trillion, down by 0.80% from the year 2015 amounted to 1.57 trillion. This decrease was caused by the increase in revenue bond debt increased by Rp1.15 trillion trillion Rp1,90 where only Rp750 billion in 2015 and increasing acceptance of bank loans for funding Consumer Finance and finance lease receivables. Increasing acceptance of the bond debtcompensated by the payment of a cash dividend of Rp30,68 billion in 2016.
Statement of Cash Flow (In million Rupiah)Description 2016 2015 Changes
Excess tax bill payment (65.538) - -Salaries and benefits payment (334.886) (286.253) 16,99%General and administrative expense payment (326.408) (271.831) 20,08%Payment for insurance company (919.325) (831.248) 10,60%Net cash used for operation activity (1.329.902) (1.703.073) -21.91%CASH FLOW FROM INVESTMENT ACTIVITYFix asset sale proceeds 89 20 345,00%Fix asset purchase (59.357) (45.994) 29,05%Net cash used for investment activity (59.268) (45.974) 28.92%CASH FOR FROM FINANCING ACTIVITYBank loan receipt 9.055.000 7.663.493 18,16%Bond payable receipt 1.900.000 750.000 153,33%Bank loan payment (8.934.851) (6.467.954) 38,14%Securities issued payment (425.000) (350.000) 21,43%Emission expense payment (9.371) (4.577) 104,74%Cash dividend payment (30.680) (23.399) 31,12%Net cash from financing activity 1.555.098 1.567.563 -0,80%Increase (decrease) net cash and cash equivalent 165.928 (181.484) 191,43%Beginning cash and cash equivalent 91.966 273.450 -66,37%Ending cash and cash equivalent 257.894 91.966 180,42%
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Financial Performance Ratio Analysis
Liquidity ratioLiquidity in the finance company is a picture and the ability of the Company in terms of turnover manage cash flow in the short term, consisting of cash inflows or cash outflows.Liquidity risk is the risk, for which the Company does not have
sufficient financial resources to meet its obligations that have matured. Given the Company’s strong financial support from the Parent Company through co-financing scheme, then this risk can be managed properly.
(In million Rupiah)
The following table illustrates the differences in the maturity of the assetsand financial liabilities of the Company on December 31, 2016:
Description
31 Desember 2016
Less than 1 month 1-6 month
More than 6 months to 1
year
More than 1 year
No contractual maturity Carrying Value
ASSETSCash and cash equivalent 233.820 - - - 24.074 257.894
Customer financing receivable 241.879 1.217.795 1.459.472 7.048.375 - 9.967.521
Finance lease receivable 37.679 169.672 183.360 443.772 - 834.483Other receivable 343.220 - - - 785 344.005Other assets - - - - 38.142 38.142Total assets 856.598 1.387.467 1.642.832 7.492.147 63.001 11.442.045LIABILITIESTrade payable 593.910 - - - - 593.910Other payable 171.134 - - - - 171.134Accrued interest expense 40.522 - - - - 40.522
Bank loan 501.393 1.307.326 1.259.765 2.540.668 - 5.609.152Securities issued - 499.890 - 2.816.344 - 3.316.234Total liabilities 1.306.959 1.807.216 1.259.765 5.357.012 - 9.730.952Total maturity differ-ences (450.361 ) (419.749 ) 383.067 2.135.135 63.001 1.711.093
The table below shows the contractual residual maturity of financialliabilities based on undiscounted cash flows on December 31, 2016:
Description31 Desember 2016
Less than 1 month 1-6 month More than 6 months
to 1 yearMore than 1
yearNo contractual
maturity Carrying Value
LIABILITIESTrade payable 593.910 - - - - 593.910Other payable 171.134 - - - - 171.134Accrued interest expense 40.522 - - - - 40.522
Bank loan 549.189 1.509.160 1.433.122 2.752.355 - 6.243.826Securities issued - 657.603 - 3.482.153 - 4.139.756Total 1.354.755 2.166.763 1.433.122 6.234.508 - 11.189.148
(In million Rupiah)
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Explanations of quality distribution of loans which not yet due and not impaired: • High grade, i.e there is no doubt for the return of
financial assets. • Standard grade, that there are certain considerations
relating to the client’s ability to make payments at maturity. But until now there has been no delay in the payment of installments of principal and interest at maturity.
Consumer financing receivables and finance lease receivables which the installment payments overdue for more than 90 days are classified as financial assets is impaired.
As collateral for customer financing receivables, the Company received an assurance from the consumer in the form of certificates of ownership of motor vehicles (“BPKP”) for motor vehicles financed by the Company.
Financial ratiosa. Profitability
The ratio of yield on average assets used to determine the ability of the Company to profit from all of the assets invested. On December 31, 2016 and 2015, the ratio of yield on average assets amounted to 4.32% and 5.11%. Total
revenue/total assets was relatively stable from 2016 amounted to 21,60% in 2015 to 21.48% in 2016
b. Earning assetsProductive assets of the Company consist of Consumer Financing Receivables Under Management.
Ratios Credit Quality of Financial Assets
On December 31, 2016, the credit risk exposure of financial assets are divided into:
DescriptionNeither past due nor impaired Past due but not
impaired Impaired Allowance for impairment losses Total
High grade Standard gradeCash and cash equivalent 233.820 - - - - 233.820
Customer financing receivable:Individual 9.056.501 292 649.780 260.948 (298.650) 9.668.871Customer financing receivable:Corporate 788.684 - 35.031 10.768 (4.538) 829.945Other receivable 344.005 - - - - 344.005Other assets 38.142 - - - - 38.142
10.461.152 292 684.811 271.716 (303.188) 11.114.783
(In million rupiah)
The following table shows the aging analysis of accounts receivable consumer financing and finance lease receivables are past due but not impaired.
31 Desember 2016
1-30 days 31-60 days 61-90 days TotalCustomer financing receivable:Individual 405.370 156.665 87.745 649.780Finance lease receivable:Corporate 21.139 11.902 1.990 35.031
426.509 168.567 89.735 684.811
(In million rupiah)
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Delinquent Receivables (Non Performing Loan), Liquidity and Solvency, as well as other financial information. In detail, the acquisition of productive assets is as follows: • The composition of receivables which is classified
as current to total receivables per December 31, 2016 amounted to 93.68%, relatively stable compared to the previous year by 93.87%.
• The Company continues to maintain credit quality and do a rigorous selection of the available financing. The Company consistently perform in the financing handling troubled with more focused on principles of prudence and maintain compliance customers to make timely payments by way of reminder, charge, and risk mitigation.
• Comparison of the total liabilities to equity on December 31, 2016 and 2015 amounted 6,05x, and 6,25x. The ratio of liabilities to total assets on December 31, 2016 and 2015 are respectively 0,87x, and 0,87x. This ratio is relatively stable for 2016 and 2015.
Other Financial Information:a. Cost Efficiency Ratio
In 2015, Cost Efficiency Ratio (CER) reached 42.67%, an increase compared to 2015 was recorded at 45.43%. This is due to growth in financing income, fee-based connection with the Company’s expansion in 2016.
a. Financing Expenses CompositionThe financial burden of the Company on December 31, 2016 amounted to Rp921,263 billion, up 31.02%, an increase of Rp218,14 billion compared ith the financial burden of the Company
in 2015, which reached Rp703,12 billion. This is demonstrated by an increase in self-financing, the Company still conduct of efficiency in the management of the financial burden.
Table of the Aging of Consumer Financing Receivables based on theAmount of the Company’s Receivables Installment (in Rp million)
Receivable Age 2016 % 2015 %
Current 34.725.908 93,63% 30.110.436 93,87%
1-30 days overdue 1.193.057 3,22% 1.061.574 3,31%
31-60 days overdue 412.365 1,11% 362.290 1,13%
61-90 days overdue 204.628 0,55% 163.220 0,51%
>90 days overdue 553.712 1,49% 378.708 1,18%
Total 37.089.670 100,00% 32.076.228 100,00%
(In million rupiah)
Table of Cost Efficiency Ratio
Cost Efficiency Ratio 2016 2015 Changes
Cost Efficiency Ratio 42,67% 45,43% -6,08%
Ratio of overhead cost to revenue 26,62% 29,41% -9,49%
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Table of Financing Expense Composition (In million Rupiah)
Financing Expense Composition 2016 2015 Changes
Securities 244.380 121.397 101,31%
Bank loan 629.871 543.617 15,87%
Administration and bank provision 39.991 34.293 16,62%
Amortization of Securities Issuance Cost 5.195 2.618 98,43%
Others 1.826 1.196 52,68%
Total financing expense 921.263 703.121 31,02%
Table of Financial Ration in Last Three Years
Financial Ratio 2016 2015 2014
PROFITABILITY
Return On Assets 3,25% 3,69% 3,58%
Return On Assets* 4,36% 4,94% 4,78%
Return On Average Assets* 4,32% 5,11% 4,74%
Return On Equity 25,34% 29,68% 29,62%
Return On Average Equity 25,53% 29,77% 29,71%
Total Revenues to Total Assets 21,48% 21,60% 20,39%
PRODUCTIVE ASSETS
Net Service Assets** 31.272.392 26.758.485 21.161.175
Joint Financing Receivables** 20.470.388 18.000.423 14.289.451
Managed Non-Performing Receivables 1,49% 1,20% 1,15%
LIQUIDITY
Total Liabilities to Total Assets (times) 0,87 0,87 0,88
Total Liabilities to Total Equity (times) 6,74 6,85 7,30
Gearing Ratio*** (times) 6,05 6,25 6,41
GROWTH
Growth of Revenues 23,23% 31,32% 29,79%
Growth of Profits for the Year 9,31% 31,09% 32,62%
Growth of Assets 23,92% 24,00% 31,59%
Growth of Liabilities 23,65% 23,03% 31,74%
Growth of Equity 25,71% 31,07% 30,47%
OTHER RATIOS
Income Before Income Tax Expense to Revenues 18,33% 20,67% 20,64%
Income for the Year – Net of Tax to Revenues 13,69% 15,44% 15,46%
Cost Efficiency Ratio 42,67% 45,43% 44,81%
Notes:* Using calculation of profits before tax** in Rp million*** Gearing Ratios
(In million rupiah)
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SOLVENCY
Liquidity And SolvencyCompany Liquidity is the ability of the Company to meet short-term liabilities using its current assets. Liquidity is measured by using a current ratio (current ratio), which is the ratio between the current assets by current liabilities. Current assets consist of assets with maturity date of less than one year. In 2016, the Company’s liquidity stood at 0.89 times. In detail, the liquidity calculation is:
Current AssetsX100%
3,8 triliun X100% = 0,89 X
Current Liabilities 4,3 triliun
While in 2015 the Company’s liquidity stood at 0.82 times. The company managed to increase the liquidity of the Company as reflected in the current ratio over the last two years. This shows the company managed
to implement the concept of a miss match between the term of the financing with maturities of funding sources.
Solvency Company is our ability to meet short-term and long-term as reflected in the ratio between the total liabilities contain interest expense with its own capital and also the ratio between total liabilities contain interest expense to total assets. Comparison between total liabilities contain interest expense with its own capital on December 31, 2016 and 2015 amounted to 6.05 times and 6.25 times. The decline in the ratio in 2016 compared to 2015 due to the Company’s ability to manage its assets and obtaining funding sources efsien to fund expansion in consumer finance conducted by the Company in 2016.
RATE OF RECEIVABLES COLLECTABILITY RATIO
The Company current receivables steady at 93.63% in 2016 and 93.87% in 2015. While the collectibility of the Company stood at 1.49% in the year 2016. In detail, the collectibility calculation is:
>90 days overdue X100%
553,71 miliar X100% = 1,49%
Total managed receivable 37,09 triliun
The Company consistently perform in the financing handling troubled with more emphasis precautionary principle or (Prudent) and maintain compliance
customers to make timely payments by way of reminder, to collect and attractive vehicles.
The Company also has credit rescue division called Accounts Receivable Management Division headed by an Accounts Receivable Division Head who oversees several people Accounts Receivable Department Head and every Accounts Receivable Head will supervise several Remedial Head and Collection Head.
Table Developments Liquidity and Solvency
Liquidity and Solvency 2016 2015 Changes
Current ration 0,89 0,82 8,54%
Ratio of liabilities to equity 6,74 6,85 -1,61%
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Capital Structure of the Company
Top Management Policy Capital Structure
In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return for the results of capital to shareholders or issue new shares to reduce the loan.
Consistent with other industry players, the Company monitors capital based on the gearing ratio. This ratio is calculated from the net value of loans (including
bonds and medium-term notes) divided by total capital. The capital amount taken from equity listed in the statement of financial position.
Based on the Regulation of the Minister of Finance of the Republic of Indonesia No. 84/PMK.012/2006 dated September 26, 2006 on Financing Entity, the maximum gearing ratio was 10 times that of the total capital
The Company continues to maintain the maximum number gearing ratio is smaller than the terms defined by the analysis of alternative financing either through bank loans, bond issues or optimizing the joint financing fund. The company also calculates the cost of funds from financing alternative selected to ensure the cost of these funds to generate maximum revenue for the Company.
CAPITAL STRUCTURE AND CORPORATE MANAGEMENT POLICY ON CAPITAL STRUCTURECapital structureThe capital structure is a combination of equity and liabilities. The combination of optimal capital structure that will maximize the value of the company. Conditions achieved optimal capital structure with a Weighted Average Cost of Capital - minimal WACC. With increasing use of debt, will minimize the WACC because the cost of debt less than the cost of equity.
Company’s Gearing Ratio (in million rupiah except *)Description 2016 2015
Loan Loan received-Net 5.609.152 5.486.590Bond 3.316.234 1.845.410Total loan 8.925.386 7.332.000Total capital 1.474.129 1.172.638Gearing ratio 6,05 6,25
The capital structure of the Company is as follows (in million Rupiah);
Capital Structure 2016 % 2015 %
Total Current Assets 3.886.897 34,08% 3.144.940 34,17%
Total Non Current Assets 7.517.165 65,92% 6.058.054 65,83%
Total Assets 11.404.062 100,00% 9.202.994 100,00%
Total Current Liabilities 4.373.940 44,05% 3.826.858 47,65%
Total Non Current Liabilities 5.555.993 55,95% 4.203.498 52,35%
Total Liabilities 9.929.933 100,00% 8.030.356 100,00%
Total Liabilities 9.929.933 87,07% 8.030.356 87,26%
Total Equity 1.474.129 12,93% 1.172.638 12,74%
Total Liabilities and Equity 11.404.062 100,00% 9.202.994 100,00%
(in million rupiah)
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Funding composition of the Company in 2016 amounted to 87.07% came from loans and securities and 12.93% is derived from Equity and Equity. This composition is relatively similar to 2015, the composition of loans from banks increased compared to the previous year. While the securities issued, an increase of 79.73% over the previous year. This is because the company issued the securities in line with the growth of the Company’s business. Other liabilities increased by 76.86% in 2016 compared with the previous year. This is caused mainly by the increase in debt to the supplier of the vehicle.
Balance of equity in 2016 amounted to Rp1.47 trillion, or an increase of 25.71% compared to the year 2015. However, in the composition of total liabilities and equity are relatively stable at 13%. This shows the composition of loans and equity the same relative Company may increase the yield of 25.53% and an increase in income for the year amounted to 9.31%.
The Company’s objective in managing capital is to maintain the continuity of the Company to be able to deliver results to shareholders and benefits to other stakeholders, and maintain optimization of the capital structure to reduce the cost of capital.
In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return for the results of capital to shareholders or issue new shares to reduce the loan.
Consistent with other industry players, the Company monitors capital based on the gearing ratio. This ratio is calculated from the net value of loans (including bonds and medium-term notes) divided by total capital. The capital amount taken from equity listed in the statement of financial position.
Bonding Material Top Capital Goods
In 2016, the Company has a bonding material used to purchase the Company’s assets in the form of rights to land, buildings and infrastructure, office equipment, furniture and vehicles primarily related to the purposes of the branch. The funding sources obtained from the Company’s results are entirely in local currency.
In 2016, the purchase of fixed assets amounted Rp59,36 billion, up 29.05% or Rp13,36 billion compared to 2015 amounting to Rp45,99 billion.
Material Information Company
Investment, Expansion, Divestment, Merger/Consolidation Business, Acquisitions, and Restructuring Debt/CapitalThe Company does not have a corporate action in the form of investment, expansion, divestiture, merger/consolidation, acquisition and restructuring of debt or capital that occurred in 2016.
Information and Material Facts After Reporting Date
There are no subsequent events that affect the financial statements 2016
The composition of financing between the loan and the Company’s capital:
Financing Composition 2016 % 2015 %
Bank Loan 5.609.152 49,18% 5.486.590 59,62%
Securities Issued 3.316.234 29,08% 1.845.410 20,05%
Other Liability 1.004.547 8,81% 698.356 7,59%
Equity 1.474.129 12,93% 1.172.638 12,74%
Total 11.404.062 100,00% 9.202.994 100,00%
(in million rupiah)
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Overview of Significant Accounting Policies
Statement of ComplianceThe financial statements have been prepared and presented in accordance with Indonesian Financial Accounting Standards issued by the Indonesian Institute of Accountants (IAI) and the Regulation of Financial Services Authority (FSA) No. VIII.G.7 on “Presentation and Disclosure of Financial Statements of Public Company” contained in the Appendix here to Chairman of Bapepam-LK No. KEP-347/BL/2012 dated June 25, 2012.
Signifkan accounting policies, which are applied in the financial statements of the Company as at and for the year ended December 31, 2016 and 2015 are as follows:
Assets and Financial Liabilities
Financial AssetsThe Company classifies its assets finances in category (i) financial assets at fair value through profit or loss, (ii) loans and receivables, (iii) financial assets held to maturity, and (iv) financial assets available for sale. In classification depends on the purpose for which the financial assets. Management determines in classification of its financial assets at initial recognition.
During the current year and at the date of statement of financial position. The Company only has dikalrifikasikan Financial assets as loans and receivables so that the accounting policy related to the classification of financial assets outside loans and receivables are not disclosed.
Loans and receivablesLoans and receivables are non-derivative financial assets with fixed or determinable payments and have not quoted in an active market, except:
• intended by the Company to be sold in the near term, which are classified as trading, and those designated upon initial recognition as at fair value through profit or loss;
• that upon initial recognition are designated as available for sale; or
• in the event that the Company may not recover the initial investment substantially, unless caused by a decrease in the quality of loans and accounts receivable.
At the time of initial recognition, loans and receivables are recognized at fair value plus transaction costs and revenue administration and subsequently measured at amortized cost using the effective interest rate method.
Loans and receivables include cash and cash equivalents, accounts receivable Consumer finance, finance lease receivables, other receivables and other assets (employees receivables, interest receivable, deposits in transit and security deposits).
Income from financial assets classified as loans and receivables are recorded in the statement of income and other comprehensive income and reported as “consumer financing income” and “income finance lease”.
In the case of impairment, impairment losses are reported as a deduction from the carrying value of the financial assets classified as loans and receivables, and are recognized in the income statement and other comprehensive income as “impairment loss”.
RecognitionThe Company uses settlement date accounting for regular contracts when recording financial assets transactions.
Impairment of financial assetsAt each balance sheet date, the Company assesses whether there is objective evidence that a financial asset or group of financial assets is impaired. The impairment loss is incurred if, and only if, there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (loss event) and that loss event has an impact on the estimated future cash flows the financial asset or group of financial assets that can be estimated reliably.
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Financial difficulties experienced by the debtor, the debtor the possibility of going bankrupt, or failure or delay in payment of installments to be considered as an indication of impairment of the financial assets.
The Company determines impairment exists individually for financial assets that are individually significant, and for financial assets that are not individually significant, the determination of impairment is done collectively.
If the Company determines that no objective evidence of impairment for financial assets assessed individually, then the Company to enter the financial asset in a group of financial assets with similar credit risk characteristics and assessed for impairment collectively. Financial assets that are individually assessed for impairment are not included in a collective assessment of impairment.
Future cash flows from a group of financial assets are collectively evaluated for impairment, are estimated based on historical loss experienced on assets that have similar credit risk characteristics with the characteristics of the group credit risk in the Company. Historical loss experience is adjusted based on current observable data is to reflect current conditions that did not affect the period on the historical loss, and to remove the effects of conditions in the historical period that do not exist today.
When a receivable is not collectible, the receivables written off by turning the journal impairment losses. Such receivables are written off after all the necessary procedures have been performed and the amount of the loss has been determined. Impairment charges relating to loans and receivables classified in “impairment losses”. If in a subsequent period, the amount of the impairment loss decreases and the reduction can be attributed objectively on events occurring after the impairment was recognized (such as increased ratings receivable debtor), the impairment loss previously recognized is reversed by adjusting the allowance account for impairment losses , Total recovery of financial assets are recognized in profit or loss and other comprehensive income.
Subsequent recoveries of receivables previously written off are credited by adjusting the allowance account for impairment losses.
Financial LiabilitiesThe Company classifies its financial liabilities in the category (i) financial liabilities at fair value through profit or loss and (ii) financial liabilities measured at amortized cost.
During the current year and at the date of statement of financial position, the Company has no financial liabilities at fair value through profit or loss that relates to the accounting policies in classification is not disclosed.
Financial liabilities are measured at amortized costAt the time of initial recognition, financial liabilities are measured at amortized cost is measured at fair value less transaction costs.
After initial recognition, the Company measures all financial liabilities which are measured at amortized cost using the effective interest rate method.
Financial liabilities are measured at amortized cost include trade payables, other payables, interest expense accrued, bank loans and securities issued.
DerecognitionDerecognition of a financial asset when the contractual rights to the cash flows from the financial assets expire or when the assets have been transferred and substantially all the risks and rewards of ownership of the assets have been transferred (if substantially all the risks and rewards have not been transferred, the Company conducts an evaluation to ensure that continuing involvement on the control of which is still owned not prevent derecognition). Financial liabilities are derecognised when the obligation has been removed or canceled or expired.
Derecognition of the consumer financing receivables are impaired, will be done when debts have been written off. Doubtful accounts are written off when they are overdue more than 180 days or when
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determined to be not collectible. Write-offs for doubtful accounts receivable is not a remove, so that collection efforts remain to be done. Consumer finance receivables can be solved by selling vehicles financed the Company.
The Company received the vehicle from the consumer and help to sell the vehicle so that consumers can pay off the debt financing of its customers.
Consumer authorizes the Company to sell the vehicle or take any other action in solving consumer financing receivables in the event of default of the financing agreement. Consumers are entitled to the excess of the value of sales by consumer financing receivables balance. If the differences are less, the loss is charged to profit or loss and other comprehensive income for the year.
Consumer-owned vehicle guarantee for the repayment of consumer financing receivables, stated at the lower of carrying value of related consumer financing receivables or net realization of collateral vehicles belonging to these consumers. The difference between the carrying value and net realizable value of accounts receivable is recorded as impairment losses and charged to profit or loss and other comprehensive income for the year.
OffsettingAssets and financial liabilities are offset presented in the statement of financial position if it has a legally enforceable right to offset a book on the recognized amounts and intends to settle on a net basis, or to
realize the asset and settle the liability simultaneously.Enforceable right means:a. There is no contingency in the future, andb.Enforceable right on the following conditions: i. normal business activities ii. conditions of business failures; and iii. conditions of default or bankruptcy
Information and Material Facts After Reporting DateIinformation and material facts After Reporting Date is related taxation as follows:1. Income taxes in 2011 On January 19, 2016 the Directorate General of
Taxation issued several tax assessment letters (SKPKB), VAT and corporate income tax and VAT amounting to Rp48.931 million STP. The completion date of the Annual Report, the Company is still in the process of filing an objection SKPKB and STP VAT to the tax authorities.
2. Income Taxes in 2012 On January 19, 2016 the Directorate General of
Taxation issued several tax assessment letters (SKPKB), VAT and corporate income tax and VAT amounting to Rp58.309 million STP. The completion date of the Annual Report, the Company is still in the process of filing an objection SKPKB and STP VAT to the tax authorities.
In addition to the information, there is no other material information and facts that occurred after the reporting date that have an impact on the financial performance of the Company
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Financial Instruments ClassificationThe Company classifies its financial instruments into in classification that reflects the nature of the information and considering the characteristics of the financial instrument. In classification can be seen in the following table:
Category defined by PSAK No. 55(Revision 2014)
Group(determined by Company) Sub Group
Financial Assets Loans and Receivables
Cash and cash equivalent• Cash• Cash in Bank• Time deposit
Consumer financing receivableFinance lease receivable
Other Receivable
Other Assets• Employee receivable• Interest receivable• Deposit in transit• Deposit
Financial Liabilities Financial liabilities which measured at amortized cost
Account payable• Vehicle payable• Insurance payable
Other payables• Fiduciary registration office• Insurance premium• Other joint financing
Accrued interest
Bank loan
Securities issued
Determination of Fair ValueThe fair value is the price that would be received to sell an asset or the price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Fair value measurement is based on the assumption that the transaction to sell the asset or transfer the liability occurs in: • The main market for these assets and liabilities, or • if there is a major market, in the most advantageous
market for the asset or liability.
The Company shall have access to the primary market or the most profitable markets. The fair value of assets and liabilities are measured using the assumptions
that market participants would use when determining the price of the asset or liability, assuming that market participants act in their best economic interests.
The Company uses valuation techniques are appropriate in the circumstances and where sufficient data are available to measure fair value, maximizing the use of unobservable inputs.
All assets and liabilities whose fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, as described below, based on the level of the lowest level of input that is significant to the overall fair value measurement:
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• Level 1 - quoted price (without adjustments) in active markets for identical assets or liabilities.
• Level 2 - valuation techniques in which the lowest level input that is significantly the level of the fair value measurements are observable either directly or indirectly.
• Level 3-assessment technique in which the lowest level input that is significantly the level of the fair value measurements are not observable either directly or indirectly.
For assets and liabilities that are measured repeatedly in the financial statements, the Company determines whether the displacement between hierarchical levels have occurred by evaluating the grouping (based on the lowest level input that is significant to the overall fair value measurement) at the end of each reporting period.
Translation of Foreign CurrenciesTransactions in foreign currencies are translated into Rupiah using the exchange rate prevailing at the transaction date. At the balance sheet date, monetary assets and liabilities denominated in foreign currencies are translated at the exchange rates prevailing at the balance sheet date.
Gains and losses arising from foreign currency transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in profit or loss and other comprehensive income.
On December 31, 2016, the exchange rate used exchange rate of Bank Indonesia amounting to Rp13.436 (full amount) (December 31, 2015: Rp13.795 (full value) to one United States Dollars ( “US Dollars”).
Cash and Cash EquivalentsCash and cash equivalents include cash on hand, cash in banks and time deposits with maturities of three months or less, unrestricted, is not used as collateral for the loan and can be used as cash without any change in the value is significant.
Consumer Financing ReceivablesConsumer financing receivables are recognized initially at fair value plus transaction costs and reduced yield enhancing income that can be attributed directly and subsequently measured at amortized cost using the effective interest rate method. Consumer finance receivables are classified as loans and receivables.
Completion of the contract before the financing is treated as a cancellation of consumer financing contracts and gain or loss is recognized in profit or loss and other comprehensive income for the year on the date of transaction.
Revenue Unearned consumer financing is the difference between the total installments to be received from consumers with a principal amount of financing that will be recognized as income over the term of the contract using the effective interest rate method.
Loan restructuring can be done by way of transfer of credit, continued credit, repay back, changing the maturity, changing the tenor and/or increase the down payment.
Joint FinancingConsumer financing receivables are receivables net of joint financing where the credit risk borne by the joint financing in accordance with the portion (without recourse), financing unearned income and allowance for impairment losses.
Consumer financing receivables financed together with other parties where each party bear the credit risk in accordance with the portion (without recourse) are presented in the statement of financial position on a net basis. Consumer financing income and interest expense related to the joint financing without recourse are presented on a net basis in the income statement and other comprehensive income.
In a joint financing without recourse, the Company reserves the right to determine the level of higher interest to customers than the interest rate determined in agreement with the joint financing providers. The difference is revenue for the Company and are presented as “Consumer Financing Revenue”.
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Financing lease receivablesFinance lease receivables represent the number of finance lease receivables plus the residual value that will be received at the end of the lease terms reduced by deferred finance leases, security deposits and reserves for impairment losses. The difference between the gross value of accounts receivable and cash value are recognized as deferred finance lease income. Deferred finance lease income is allocated as income in the statements of income and other comprehensive income of the current year based on a constant rate of return on the net investment using the effective interest rate.
Financing tenant has the option to purchase the leased financing asset at the end of the lease terms at a price agreed upon at the inception of finance lease agreements. Completion of the contract before the lease terms treated as a cancellation of lease contracts and gains or losses are recognized in profit or loss and other comprehensive income for the year.
Finance lease receivables are classified as loans and receivables.
Allowance for impairment lossesCompany calculating the allowance for impairment losses by using the “incurred losses”..
Prepaid expensesPrepaid expenses are amortized over the useful life of each expense using the straight-line method.
Fixed assets and depreciationThe fixed assets are stated at cost less accumulated depreciation. The acquisition cost includes all expenditures directly related to the acquisition of fixed assets.
The cost of obtaining legal land rights in the form of Hak Guna Usaha (“HGU”), Hak Guna Bangunan (“HGB”) and Hak Pakai (“HP”) when the land was acquired first recognized as part of the cost of land in the account “Fixed Assets “and is not amortized.
While the cost of maintenance on the extension or renewal of legal rights to the land in the form of HGU, HGB and HP is recognized as part of “Deferred Charges, Net” in the statements of financial position and amortized over whichever is shorter between the age of legal rights and economic life of the soil.
Land which is not depreciated
Construction in progress is stated at cost and will be transferred to the respective fixed assets account when completed and ready to use.
Depreciation of fixed assets other than land is calculated using the straight line method over the estimated useful lives as follows:
Group Useful Life Useful Life
Building 20 5,00%
Furniture and office equipment 5 20,00%
Vehicle 5 20,00%
Renovation of the building lease 3 - 5 20,00% - 33,00%
The fixed assets except land and buildings under construction are depreciated to the residual value.
Costs after the initial recognition of an asset are recognized as part of the carrying value of assets as a separate asset, as appropriate, only if it is likely the Company will obtain future economic benefits associated with the item and the cost of the item can be measured reliably. The value associated with the
replacement of components not recognized. All other repairs and maintenance are charged to the statement of income and other comprehensive income during the period in which the expenses occur.
The residual value and useful lives of assets are reviewed and adjusted, every statement of financial position if necessary.
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When assets are retired or otherwise disposed of, their carrying values and accumulated depreciation are removed from the financial statements and the profit or loss resulting from the disposal of fixed assets are recognized in profit or loss and other comprehensive income.
If the carrying value of fixed assets is greater than the recoverable value, the carrying amount may be lowered down to its recoverable value.
Assessment is made at each reporting period whether there is any indication that an impairment loss has been recognized in prior periods may no longer exist or may have decreased. If the indication is found, then the entity estimates the recoverable amount of the asset. Impairment losses recognized in prior periods is reversed only if there are changes in the assumptions used to determine the asset’s recoverable amount since the last impairment loss is recognized. In this case, the carrying amount of the asset is increased to its recoverable amount.
Reversal of impairment loss is recognized in profit or loss and other comprehensive income. After such a reversal, the depreciation of these assets is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over the remaining useful life.
Tax Disclosure
Final taxThe taxation laws in Indonesia set up some kind of income that is final taxed. Final tax levied on the gross value of the transaction remains subject to the transaction even though the trader losses.
Referring to PSAK No. 46 (Revised 2014), “Income Taxes”, Final tax is not included in the scope of which is governed by PSAK No. 46. Therefore, the Company decided to present Final tax burden with respect to interest income as a separate post.
Current taxCurrent tax assets and liabilities for the current year are measured at the amounts expected to be restituted from or paid to the taxation authorities.
Current tax expense is determined based on taxable income for the current year were calculated based on prevailing tax rates.
Shortage/excess income tax payments are recorded as part of “Income Tax Expense” in the income statement and other comprehensive income. The company also serves the interest/penalty, if any, as part of the “Income Tax Expense”.
Amendments to taxation obligations are recorded when an assessment is received or, if objected, when the result of the appeal is determined.
Deferred taxDeferred tax assets and liabilities are recognized using the methods of financial position on the future tax consequences attributable to differences between the carrying amounts of assets and liabilities for financial reporting and the tax bases of assets and liabilities at each reporting date. Deferred tax liabilities are recognized for all taxable temporary differences and deferred tax assets are recognized for temporary differences are deductible and tax loss carry forwards to the extent that the possibility of temporary differences are deductible and tax losses can be utilized to reduce taxable income in the future.
The carrying amount of deferred tax assets are reviewed at the end of each reporting period and reduced to the extent taxable income may not be sufficient to compensate for some or all of the benefits of these deferred tax assets. At the end of each reporting period, the Company revaluing deferred tax assets not recognized. The Company recognizes deferred tax assets not previously recognized to the extent that future taxable profits will be available for recovery
Deferred tax is calculated using tax rates that have been enacted or substantively enacted at the reporting date.
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Changes in the carrying value of assets and the deferred tax liabilities due to a change in tax rates is charged to current operations, except for transactions that previously charged or credited to equity.
Deferred tax assets and liabilities are offset presented in the statement of financial position, except for deferred tax assets and liabilities for different legal entities, in the same manner the current tax assets and liabilities.
Employee Benefits
Short-term employee benefitsShort-term employee benefits are recognized when owed to employees on an accrual basis.
Post-employment benefitsPost-employment benefits, such as pensions, severance pay, cash awards and other compensation, determined in accordance with the Regulation of the Company and Labour Law No. 13/2003 (“Law 13/2003”). Because Law 13/2003 sets the formula for calculating the minimum amount of benefits, basically, based on Law 13/2003 pension program is a defined benefit plan. A defined benefit plan is a pension plan that defines an amount of pension benefit to be provided, usually based on one or more factors such as age, years of service or compensation.
Defined benefit pension plan liabilities are recognized in the statement of financial position is the present value of the defined benefit obligation at the date of statement of financial position, as well as adjusted for gains or losses and past service costs not yet recognized. The present value of the defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.
The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows forward using bond interest rates the Company’s high quality in the same currency with the currency of remuneration to be paid and the time to maturity is approximately equal to the time to maturity remuneration is concerned.
The entire past service costs are recognized when the first between when the amendment/curtailment occurs or when a restructuring charge recognized or termination of employment. As a result, the past service cost not yet vested no longer be deferred and recognized over the vesting period of the future.
Net interest on the net defined benefit is a component of interest income on plan assets, interest costs on the defined benefit obligation and interest on the impact the upper limit of the asset.
Re-measurement of net defined benefit liabilities consist of: • Gains and losses • Return on plan assets, excluding amounts included
in net interest on the net defined benefit liability • Any changes to limit the impact on the assets,
excluding amounts included in net interest on the net defined benefit liability.
Termination benefitsTermination benefits payable when the employee is terminated before the normal retirement age. The Company recognizes termination benefits when the Company is demonstrably committed to terminating the employment of current employees according to a detailed formal plan that is likely to be canceled. Benefits falling due more than 12 months after the balance sheet date are discounted to present value.
StockOrdinary shares are classified as equity.
DividendFNAL dividend distributions are recognized as a liability in the financial statements on the date the dividends are approved by the General Meeting of Shareholders.
Earnings per shareEarnings per share is calculated by dividing the profit for the year by the weighted average number of ordinary shares outstanding during the year.
Securities issuedIncludes securities issued Medium Term Notes and bond.
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Securities issued are classified as financial liabilities measured at amortized cost. Incremental costs directly attributable to the issuance of securities are deducted from the amount of the securities issued and amortized over the term of the securities issued using the effective interest rate method. For the accounting policy for financial liabilities which are measured at amortized cost.
Transactions with related partiesThe Company has transactions with related parties. The definition of related parties used is as follows:A party is considered related to the Company if:a. A person or a close family member is related to a
reporting entity if that person:i. has control or joint control over the reporting
entity;ii. has significant influence over the reporting
entity; oriii. is the key management personnel of the
reporting entity or the parent of the reporting entity.
b. An entity is related to a reporting entity if it meets one of the following:i. The entity and the reporting entity are
members of the same group (meaning a parent, subsidiary and fellow subsidiary is related to each other entities)
ii. One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group, which the other entity is a member).
iii. Both entities are joint ventures of the same third party.
iv. One entity is a joint venture of a third entity and the other entity is an associate of the third entity.
v. The entity is a post-employment 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.
vi. Entities controlled or jointly controlled by a person identified in (a).
vii. The person identified in subparagraph (a) (i) has significant influence over the entity or the key management personnel of the entity (or the parent of the entity).
All transactions with related parties are disclosed in the notes to the financial statements.
Recognition of income and expenseRevenue from consumer financing and lease financing, insurance commissions and cost of insurance brokerage services and interest expenses for all interest-bearing financial instruments recognized in accordance with the term of the contract based on the effective interest rate method.
The effective interest method is a method used for calculating the amortized cost of a financial asset or a financial liability and of allocating the interest income or interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated cash payments or receipts in the future through the expected life of the financial instrument, or if appropriate, a shorter period to the net carrying amount of the financial asset or financial liability.
When calculating the effective interest rate, the Company estimates cash flows considering all contractual terms of the financial instrument but does not consider future credit losses. This calculation includes transaction costs and revenue administration.
Bank interest income and late payment penalties are recognized when incurred. Bank interest income is presented on a gross basis in the consolidated statementsloss and other comprehensive income.
Revenue and expenses are recognized when incurred, using the accrual basis.
Operating segmentsAn operating segment is a component of an entity, which:i. That engages in business activities that generate
revenue and incur expenses (including revenues and expenses relating to transactions with other components of the same entity);
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ii. Whose operating results are regularly reviewed by the chief operating decision-making about resources to be allocated to the segment and assess its performance; and,
iii. Financial information is available that can be separated.
The Company presents operating segments based on the information prepared internally to the chief operating decision maker. The Company’s chief operating decision maker is the Board of Directors.
The Company’s operating segments are presented based on business segments consisting of: fleet and retail.
Changes in accounting policies and disclosuresThe Company has applied the following accounting standards on January 1, 2016 that are considered relevant: • Amendment of PSAK No. 16: Fixed Assets Received
on Clarification Method for Depreciation and Amortization. This amendment clarifies the principles contained in PSAK 16 and PSAK 19 Intangible Assets Not that earnings reflect a pattern of economic benefits resulting from the operation of the business (in which the asset is a part) of the economic benefits of a user through the use of the asset. As a conclusion that the use of methods of depreciation of fixed assets based on revenue is not correct.
• Amendment of PSAK No. 24: Employee Benefits on a Defined Benefit Program: Contribution Worker. PSAK 24 requesting entity to consider the contributions of workers or third parties while taking into account the defined benefit plan. When the license fee with respect to services, should be attributed to the period of service as a negative reward. This amendment clarifies that, if the amount of contributions does not depend on the number of years of service, the entity is allowed to recognize the contribution as a deduction of the cost of services in the period when the related services provided, rather than the allocation of the contribution in the services period.
• PSAK No. 5 (Adjustment 2015): Operating Segments. This adjustment clarified:- An entity shall disclose the management
judgments made in applying the aggregation criteria of SFAS 5 paragraph 12, including a brief explanation of the operating segments are combined and economic characteristics.
- Disclosure of reconciliation of segment assets to total assets if reconciliation is reported to the chief operating decision maker, as well as to the disclosure of segment liabilities.
• PSAK No. 7 (Adjustment 2015):Related Party Disclosures. This adjustment clarifies that the management entity (entities that provide services of key management personnel) is a related party that is subject to disclosure of related parties. And entities that use management entity disclose the cost incurred for its management services.
• PSAK No. 16 (Adjustment 2015):Fixed Assets. This adjustment is clarified that in PSAK 16 and PSAK 19, assets can be revalued by reference to observable market data on the gross carrying amount or net. And accumulated depreciation or amortization is the difference between the gross carrying amount and the carrying amount of the asset. The carrying amount of the asset restated on the amount of the revaluation.
• PSAK No. 25 (Adjustment 2015):Accounting Policies, Changes in Accounting Estimates and Errors. This adjustment provides editorial corrections to the PSAK 25 paragraph 27.
• PSAK No. 68 (Adjustment 2015):Fair Value Measurements. This adjustment clarifies that the portfolio exception in PSAK 68 can be applied not just a group of financial assets and financial liabilities, but also applied to other contracts within the scope of PSAK 55.
The Company has analyzed the application of accounting standards mentioned above and the application does not have a significant effect on the financial statements.
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ESTIMATES AND CONSIDERATION OF SIGNIFICANT ACCOUNTING
The preparation of the Company’s financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and disclosure of contingent liabilities, at the end of the reporting period.
Uncertainty about these assumptions and estimates could result in a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
ConsiderationThe following considerations are made by the management in order to implement the Company’s accounting policies that have the most significant effect on the amounts recognized in the financial statements:
Classification of Assets and Financial LiabilitiesCompany sets in classification of certain assets and liabilities as financial assets and financial liabilities by considering if the definitions set PSAK No. 55 (Revised 2014) are met. Accordingly, financial assets and financial liabilities are recognized in accordance with the accounting policies of the Company.
LeaseThe Company has lease agreements in which the company acts as a lessee for rent. The Company assesses whether there are significant risks and rewards of the asset lease redirected by PSAK No. 30 (Revised 2011), which requires the Company to make consideration of the estimates of the transfer of risks and rewards of ownership to the lessee.
Based on the review conducted by the Company on a lease agreement that exists today, the leasing transactions are classified as operating leases.
The main sources of estimation uncertaintya. Allowance for impairment losses
The Company reviews the accounts given at each reporting date to carry out an assessment of the reserve for impairment has been recorded. Justification management is required
to determine the level of required reserves. The Company reviews its receivables at the reporting date to Evaluate the allowance for impairment losses. Management’s judgment is applied in the estimation when Determining the level of allowance required.
The Company established a collective allowance for impairment losses on exposure to consumer financing receivables and finance lease receivables, where the evaluation is based on historical loss data.
b. Post-retirement benefitsPost-retirement benefits are determined based on actuarial calculations. Actuarial calculations using assumptions such as discount rates, investment returns, salary increase rate, mortality rate, rate of resignation and others. Changes in these assumptions will affect the carrying amount of the post-retirement benefit liabilities.
c. Depreciation and estimated useful life of fixed assetsCost of acquisition of fixed assets are depreciated using the straight-line method based on the estimated economic useful life. Management estimates the useful lives of the assets. This is the age that generally expected in the industry in which the Company does business. Changes in the level of usage and technological developments could affect the economic useful lives and residual value of assets, and therefore future depreciation charges may be revised.
d. Income taxSignificant judgment is made in determining the provision for corporate income tax. There are certain transactions and calculations that ultimately tax determination is uncertain throughout the normal course of business. The Company records a liability for corporate income tax is based on estimates of whether there are additional corporate income tax.
e. Deferred taxDeferred tax assets are recognized for the amount of recoverable income taxes (recoverable) in future periods as a result of deductible temporary differences.
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ACCOUNTING POLICIES RELATED TO EMPLOYEE BENEFITS The amounts recognized on the statement of financial position are determined as follows:
Description 2016 2015
Beginning balance, January 1 36.549 21.271
Current service expense 6.413 5.582
Interest expense 3.313 2.385
Past service expense 415 473
Payments for the year (821) (383)
(Gain) / loss on actuarial liabilities of historical differences 826 10.172
Demographic assumptions - (333)
Financial assumptions 3.440 (2.618)
Ending balance 50.135 36.549
Description 2016 2015
Current service expense 6.413 5.582
interest expense 3.313 2.385
Past service expense 415 473
10.141 8.440
Termination benefits expense 1.808 440
Total 11.949 8.880
Mutations employee benefits liabilities in statements of financial position are as follows:
Description 2016 2015
Beginning balance, January 1 36.549 21.271
Allowance on income 11.949 8.880
Allowance on other comprehensive income 4.266 7.221
Payments for the year (2.629) (823)
Ending balance 50.135 36.549
Liabilities for employee benefits at December 31, 2016 and 2015 are calculated by independent actuary PT Dayamandiri Dharmakon Sulindo using the projected unit credit method in actuarial report dated January 3, 2017 and January 14, 2016. The basic assumptions used independent actuary are as follows:
Description 2016 2015
Discount rate 8.5% per year 9.2% per year
Salary increase rate 7% per year 7% per year
The death rate TMI 3 TMI 3
The level of disability 10% of TMI3 10% of TMI3
Resignation rate 7% per year at the age up to 40 years and be reduced to 0.00% at age 55 years
7% per year at the age up to 40 years and be reduced to 0.00% at age 55 years
Pension rate 100.00% of normal retirement age
100.00% of normal retirement age
Justification management is necessary to determine the amount of deferred tax assets that can be recognized, in accordance with precise timing and level of future taxable profits in line with the strategy of the tax plan ahead
(In million Rupiah)
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Obedience As Financing Company
As a finance company which has been established since 1989, the Company always obey the laws and regulations in force. The Company is in the field of financing currently regulated by the Financial Services Authority Regulation of Financial Services Authority (POJK) No. 29/POJK.05/2014 on the Implementation
of Enterprise Financing Company, and POJK No. 30 / POJK.04 / 2015 on Corporate Governance Good For Financing Company.
Several provisions in the Financial Services Authority, including the following:
No Description Regulation Status Note
1 Paid-up Capital Minimum Rp100 Billion Comply Company’s paid-up capital as of December 31, 2016 amounted to Rp250 Billion
2 Authorized Capital
Minimum 50% of Paid-up capital Comply Company’s authorized capital as of December 31, 2016 amounted to Rp900 Billion
3 Board of Director Required to have at least three members of the Board of Directors
Not Accredited Position in Other Companies
Domiciled in the territory of the Republic of Indonesia
Passed Fit and Proper Test ratings
Comply
Comply
Comply
Comply
Number of Directors were three people in 2016, None of the Board of Directors concurrent positions in other financing companies, All Members of the Board of Directors are domiciled in Indonesia, and the entire Board of Directors has Passed Fit and Proper Test by FSA
4 Board of Commissioner
Required to have at least 2 (two) members of the Board of Commissioners
Not Accredited position as member of the Board of Commissioners on more than three another companies;
At least 1 (one) person domiciled in the territory of the Republic of IndonesiaPass on fit and proper test
Required to have at least 1 (one) Independent Commissioner
Comply
Comply
Comply
Comply
Comply
Number of Board of Commissioner were 3 people
None of the Board of Commissioner concurrent positions in other financing companies
All of member of the Board of Commissioner are domiciled in IndonesiaAll of the Board of Commissioner have passed fit and proper test by FSAThe company has 1 independent commissioner
5 Audit Committee Have to establish audit committee Comply The Company has Audit Committee headed by independent commissioner
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6 Total minimum financing receivable
Minimum 40% from total Assets Comply Total company’s financing receivable as of December 31, 2016 amounted 92,17% by the total assets
7 Total payable Maximum 10 times Comply Total loan that had by Company as of December 31, 2016 was 6,25 times for authorized capital
Contribution to CountryThe Company’s mission is to play an active role contributing to the economic development of the country. To realize the mission of the Company in fiscal year 2016, the Company’s operating activities have contributed positively to the country by the following forms:
1. Contributions to the payment of taxesDuring 2016, the contribution of tax payments by the Company to the Country amounted to Rp230.504.042.227, and in 2015 amounted to Rp183.638.213.157, or an increase of 25.52%. Contributions to the payment of taxes is composed of:
Office Tax Regulation Tax Regulation Total (Rp) 2015
Head PPh Badan 112.680.248.467 91.453.896.255
PPN 48.345.477.679 27.429.473.684
Branch PPh Withholding 69.392.776.834 64.696.820.526
PBB 85.539.247 58.022.692TOTAL 230.504.042.227 183.638.213.157
2. To develop the segment of Small, Micro, and Medium Enterprises (SMEs)
Throughout 2016, the Company managed to channel the financing of commercial vehicles to consumers MSMEs. Some vehicles such as the type of Pick Up and units of commercial vehicles which have been financed by the Company. With the kind of vehicle finance portfolio of Pick Up, the Company has been supporting the transportation and business operations of SMEs owned by customers of the Company and is expected to
develop the SME business.
Commercial Vehicle Category Unit %
Heavy Equipment 334 1,5%
Double Cabin 631 2,8%
Pick Up 16.232 73,2%
Truck 4.970 22,4%
Total 22.167 100%
Heavy Equipment 1,5%
Truck 22,4%
Pick Up 73,2%
Double Cabin 2,8%
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Governance
Corporate Governance
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Mandiri Tunas Finance is committed to apply the principles of good corporate governance as the basis for company performance improvement which will update the various manuals, operating procedures, in accordance with changes in laws and regulations applicable, program transformation and development of the Company.
Statement of Commitment GCG
In the GCG implementation, the Company comply with various laws and regulations in force and internal regulations. Periodically, Mandiri Tunas Finance conducted GCG measurement implementation by independent parties and committed to follow up on any recommendations for improvement generated.
GCG implementation commitment is an absolute must for Mandiri Tunas Finance. This is done through strengthening the infrastructure owned and continually improve systems and procedures to support the effective implementation of GCG. Dissemination as the Company’s commitment to constantly remind all stakeholders of the importance of the implementation of GCG in any work activities.
Basic Application, Principle And Roadmap GCG
Basic GCGTo realize emerging growth companies and high competitiveness, Mandiri Tunas Finance has developed a structure and system of corporate governance (GCG) with regard to the principles of GCG’s rules and regulations and apply best practices.
The spirit embodied in the implementation of GCG in Mandiri Tunas Finance are the will and determination of Mandiri Tunas Finance management to make Mandiri Tunas Finance become a company that continues to grow and evolve with the quality of products and work processes are good, and has a Code of Conduct, including responsibility for their environment ,
Objectives GCG implementation in Mandiri Tunas Finance are as follows: (GCG Code) • Providing added value to the Company and
shareholders; • Maximizing the value of the Company in order to
have strong competitiveness; • Improving regulatory compliance; • Encouraging the management of the Company
in a professional, transparent and efsien and empowering function of the Board of Commissioners, Directors, Audit Committee, Internal Audit and Corporate Secretary;
• Encouraging every decision or policy based on high moral values and compliance with applicable laws and regulations;
• Protecting the Board of Commissioners and Board of Directors of the possibility of lawsuits.
To achieve this goal, Mandiri Tunas Finance has the full commitment and consistently enforce the implementation of GCG with reference to some formal rules as the basis for Mandiri Tunas Finance in the implementation of GCG
GCG PrinciplesThe Company’s corporate governance principles are as follows:1. Transparency
The Company assesses the principle of transparency as openness in revealing relevant material information accurately and timely. Company disclose material information not only to shareholders but also to all stakeholders of the Company. So expect shareholders and stakeholders can early know the development of the Company’s business.
Corporate Governance
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legislation in force.Self-reliance is realized among others with respect for the role and functions of each organ of the Company as well as management of the Company’s decision is a decision of the Board of Directors as well as possible for the sake of the interests of the Company.
The principle of independence is needed, especially in the process of decision-making or policy management must be carried out objectively and put the Company’s interests as a top priority.
5. FairnessThe Company defines fairness or justice as equal treatment to all interested parties in accordance with the legislation in force. In its application, among others, the Company always maintain good relations with our employees and avoid discriminatory practices and to respect the rights of employees.
GCG Mandiri Tunas Finance Roadmap
Mandiri Tunas Finance set the GCG implementation direction in the form of GCG Roadmap which is expected to be a guide in the GCG implementation at all levels. GCG Roadmap is directed to make GCG as a reference in every operational activity. The ultimate objective of the Roadmap GCG is the realization of Mandiri Tunas Finance as a good corporate citizen. It is expected by the end goal achieved, Mandiri Tunas Finance is optimistic to improve and maintain performance continuously.
2. AccountabilityApplication of the principle of accountability is implemented by the Company to establish clarity of function, structure, systems and respective responsibilities of each organ in theCompany so that the Company management can be implemented effectively. With the implementation of the principle of accountability, there will be clarity of the functions, rights, duties, powers and responsibilities between the shareholders, the Board of Commissioners and the Board of Directors and in every part of the Company.
3. AccountabilityCompany defines principle of accountability as well compliance with operational procedures and laws that apply in every business activity carried out. Accountability was also followed by a commitment to carry out business activities in accordance with ethical standards either. In addition, surveillance conducted by the Board of Commissioners further improved the management of the Company by the Board of Directors so that it can run effectively, with the achievement of their demandsthe Board of Directors.
4. IndependensiThe Company defines independence as an exercise of duty, obligation and authorityeach organ of the Company without the interference of organs other Company or other parties that are not in accordance with the
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Strengthening Implementation of Mandiri Tunas Finance GCG
Mandiri Tunas Finance has undertaken various initiatives GCG implementation, whether conducted independently or assisted by independent parties in achieving corporate governance (sustainable governance).
During 2016, the achievement of a program to strengthen the implementation of GCG in Mandiri Tunas Finance has been completed, include:1. Implementation of GCG Self Assessment
In 2016, the Company has implemented GCG Self Assessment targeting activities of Directors,
- GMS & Company’s organization structure- Board of Commissioners- Audit Committee- Board of Directors
LAYER
LAYER
LAYER
1st
2st
3st
- Legal & Compliance Division- Corporate Secretary- Risk Management Division- Internal Audit Division- Human Resources Development Division
- Procedures and Policies- Assessment- Audit- Information Transparency & Performance
Vision & Mission
PERWIRA Culture
PEDOMAN GCG
GCG Guideline
PILLAR I
PILLAR III
PILLAR II
PILLAR IV
PILLAR III: GCG GUIDELINE
PILLAR II: COMPANY CULTURE
PILLAR IV: SUPPORTING INFRASTRUCTURE
PILLAR I: VISION, MISSION
Whistle Blower Policy
Risk Management
Code of Conduct
Information Transparency
& Performance
PERWIRA Culture
To Be The MostProgressive and Reliable
Multifinance in Indonesia
VISI
Trust Excitement
- Oriented on the fulfillment of society’s credit needs for country’s welfare
- Participate in positive contribution to the national economy- Develop professional human resources
- Provide maximum benefit for stakeholders
Entrepreneurship
Mission:
GCG Guideline
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management, Board of Commissioners, and stakeholders.
2. Gratification Control Program In order to improve the Clean Governance as well as for the prevention and eradication of corruption within the company, Mandiri Tunas Finance applying Gratification Control Program (PPG).
3. Whistle Blowing SystemComplaints of violations of the system is part of the internal control system to prevent irregularities and fraudulent practices and to strengthen the implementation of good governance practices.
Mandiri Tunas Finance has endorsed the Whistle Blowing System through a joint decree of the Board of Commissioners and Board of Directors. SPI unit set as whistle blowing system management unit.
Structure and Mechanism of GCG
Governance StructureIn accordance with Law No. 40 of 2007 Chapter I on General Provisions Article 1, Organ Company is composed of a General Meeting of Shareholders, the Board of Directors and Board of Commissioners.
• General Meeting of Shareholders, hereinafter called the GMS is Company;s Organ which has authority not granted to the Board of Directors or Board of Commissioners within the limits prescribed in the Act and / or the Statutes.
• Commissioners are Organ Company in charge of supervising the general and / or special accordance with the Statutes as well as giving advice to the Board of Directors.
• Organ Company’s Board of Directors is authorized, and are fully responsible for management of the Company for the benefit of the Company, in accordance with the purposes and objectives of the Company and represent the Company, both in and out of court in accordance with the provisions of the Articles of Association.
4. Participate in the CGPI Award 2016Mandiri Tunas Finance to participate in GCG ranking programs, namely CGPI (Corporate Governance Perception Index) Award 2016 which held by a team from the Indonesian Institute for Corporate Governance (IICG). Themes in GCPI Award 2016 is ‘’ Corporate Governance in Sustainability Perspective “. Assessment is done by the method of distribution of the questionnaire, the collection of supporting documents, writing papers, and the observation team IICG to Mandiri Tunas Finance.
In that event, Mandiri Tunas Finance awarded as “Trusted Company” with the achievements of a value of 78.80%. As for the view CGPI Awards Jury regarding the Company progress is very reliable which organ company and all members of the Company has been committed and to make efforts for taking seriously and be consistent in enforcing good corporate governance and Corporate Sustainability that upholds human dignity, protecting the environment and economically profitable.
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The Company organ plays a key role in the successful implementation of GCG. Organ Company to perform its functions in accordance with the statutory provisions, the Articles of Association and other provisions on the principle that each organ is independent in carrying out the duties, functions and responsibilities for the benefit of the Company.
GMS, the Board of Commissioners and Board of Directors respect the duties, responsibilities and authorities of each corresponding Laws and Statutes.
In performing its duties the company’s management, the Board of Directors is assisted by the Corporate Secretary and Internal Audit as well as other work units that perform the function of management of the Company.
In carrying out supervisory duties, the Board may establish committees, whose members are one or more members of the Board of Commissioners. These committees are responsible to the Board of Commissioners.
Transparancy Accountability Responsibility
GMS
Independency
MAIN ORGAN
SUPPORTING ORGAN
Check & BalancesBoard of DirectorBoard of
Commissioner
Audit Committee
Nomination and Remuneration Committee
Risk Management
Legal & Compliance
Personnel Committee
Anti-Fraud Committee
Internal Audit
Credit Committee
Customer Introduction Principle Work Unit
Secretary of Board of Commissioner Corporate Secretary
Fairness
Risk Monitoring Committee
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General Meeting Of Shareholders
GMS is a medium for the Company’s shareholders to make decisions by taking into account the Articles of Association as well as rules and regulations. GMS cannot intervene with duties, functions and authority of the Board of Commissioners and Board of Directors, without disregarding GMS’ rights to perform its authority in line with the Articles of Association and legislations.
The General Meeting of Shareholders has an authority that is not granted to the Board of Directors and Board of Commissioners, including the authority to approve and refuse the Company’s Work Plan and budget (RKAP) and Long-Term Plan (RJPP), determine the allocation for profit sharing, determine and validate the appointment and dismissal systems for Board of Directors and Board of Commissioners, appoint and dismiss the members of Board of Commissioners and Board of Directors, determine the system to assess the performance of Board of Commissioners and Board of Directors, evaluate the collective as well as individual performance of Board of Commissioners and Board of Directors, determine the external auditors to conduct audit on the Company’s financial statements and determine the amount of remuneration given to the Board of Commissioners and Board of Directors.
The Company’s GMS consists of the Annual GMS, which is the fixed agenda of all shareholders and convened once a year at the minimum, and the Extraordinary GMS, which is convened if there is an extraordinary event taking place that may impact significantly on the Company’s performance. In 2016, the Company convened Annual GMS on February
24, 2016, in Jakarta. Annual Meeting previously had to call to the shareholders through the medium of the Indonesia Stock Exchange’s website and the Company’s website and the official letter on February 9, 2016.
Results of Annual General Meeting 2016The Company has held the Annual General Meeting on February 24, 2016 in Jakarta, attended by all shareholders with the decision as follows:
First agendaApproved and accepted the Company’s Annual Report for the fiscal year ended December 31, 2015, and approved the Annual Financial Statements of the Company for the financial year ended on December 31, 2015 audited by Purwantono, Sungkoro & Surja (a firm member of Ernst & Young Global Limited) as stated in the Independent Auditor’s Report number RPC-246 / PSS / 2016 dated January 18, 2016, in the reasonable opinion in all material respects, thus providing a release and discharge full responsibility (volledig acquit et decharge), to the Board of Commissioners for control measures, and to the Directors of the Company for all acts of management and implementation of the authority, which has been conducted in the fiscal year ended on December 31, 2015, to the extent such action is not a crime and such actions are reflected in the Annual Report and Financial Statements annual Company for the year ended December 31, 2015
Governance MechanismGovernance Mechanism is the rules, procedures and a clear relationship between the parties took the decision to the parties conducting the control (supervision) against the decision.
Mandiri Tunas Finance has a Code of Good Corporate Governance adopted. Companies continue to improve corporate governance policy (soft-structure GCG) held in line with the needs of business processes as well as provisions for the implementation of GCG for the company.
In addition to GCG guidelines, Mandiri Tunas Finance has developed a Code of Conduct, Board Manual, Control Guidelines Gratifkasi, Whistle Blowing System, Audit Committee Charter, Charter Internal Audit and the various policies and procedures to support the implementation of good governance. All these policies and procedures are intended to encourage the Company is able to carry out a check and balance on any business activity based on the principles of good corporate governance that apply.
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Second agendaApprove and authorize the use of Net Income for the financial year 2015 amounted to Rp306.799.823.009,19, - as follows:1. Sharing final dividend of 10% (ten percent) of the
Company’s net profit, which will be paid by the Company to the Shareholders of the Company for the financial year ended December 31, 2015 amounted to Rp30.679.982.300.92 or Rp12,27, - per share shares to be distributed to shareholders in proportion namely PT Bank Mandiri (Persero) Tbk. and PT Tunas Tbk.
2. The rest of the net profit in 2015 amounted to Rp276.119.840.708,27 or equal to 90% (ninety percent) of the net profit will be recorded as retained earnings of the Company (retained earnings) that will be used to strengthen the Company’s capital.
Third agenda1. Set Purwantono, Sungkoro & Surja (a firm member
of Ernst & Young Global Limited) as a public accounting firm to audit the Company’s Financial Statements for the fiscal year ended December 31, 2016.
2. Provide power to the Board of Commissioners to determine the honorarium and other requirements for the public accounting firm, as well as set a public accounting firm analogs in Purwantono, Sungkoro & Surja (frm a member of Ernst & Young Global Limited) due to any cause not can complete audit the Company’s Financial Statements for the fiscal year ended December 31, 2016.
Fourth agendaGive authority and power to the Board of Commissioners with the prior approval Shareholder to determine the amount tantieme given to members of the Board of Directors and Board of Commissioners of the Company for the financial year 2015.
Fifth agenda1. Provide authority and power to the Board of
Commissioners with prior Shareholder approval to establish the amount of salary and honoraria for members of the Board of Directors and the Board of Commissioners for 2016.
2. Provide authority and power to the Board of Commissioners with the prior approval Shareholder to determine the amount of the facility and / or allowances for members of the Board of Directors and the Board of Commissioners for 2016.
Sixth agendaGive power and authority to the Board of Directors, with the approval of the Board of Commissioners, since the closing of the Meeting, to transfer and / or make more than 50% (fifty percent) of the net worth of the Company as collateral on behalf of the Company to obtain new funding comes from banking sources and the issuance of bonds or securities, within 1 (one) or more transactions, whether in relation to one another or not, amounting Rp5.500.000.000.000, - (five trillion five hundred billion) in 2017. Where for any diversion and / or underwriting net worth of the Company at multiples of Rp1.000.000.000.000, - (one trillion), the Directors are required to make a written report to the Board of Commissioners regarding the implementation.
Seventh agendaReports on the Use of Proceeds from Public Offering Bond I Mandiri Tunas Finance Phase III in 2015.
Eighth agendaReports on the Use of Proceeds from Public Offering Bond II Mandiri Tunas Finance Phase I in 2015.
Ninth agenda1. Approved the change of the Articles of Association
to comply with the provisions POJK No. 33 In 2014, Article 11, paragraph 1, 3, 6, Article 13 paragraph 1 and Article 14 paragraph 1.
2. To authorize and authorize the Board of Directors with the right to transfer this power to others, to perform any and all acts required in connection with the Company’s decision to change the articles of association.
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Board of Commissioners
BOC is an organ of the company which is collectively responsible for overseeing and advising the Board of Directors and ensure that Mandiri Tunas Finance implementing GCG at all levels of the organization. In order to support the implementation of the
BOC Name Position Fit and Proper Date Test Passed Description
Anton Setiawan President Commissioner April 17, 2015
Pursuant to the Copy of the Decision of Indonesia Financial Services Authority’s Board of Commissioners No. KEP-138/NB.11/2015
Sarastri Baskoro Commissioner December 17, 2008 Pursuant to the Decision of the Chairman of BAPEPAM-LK No. KEP-529/BL/2008
Hanifah Purnama Independent Commissioner April 17, 2015
Pursuant to the Copy of the Decision of Indonesia Financial Services Authority’s Board of Commissioners No. KEP-139/NB.11/2015
BoC is assisted by the Audit Committee and Risk Management Committee.
Composition of the Board of CommissionersAs of December 31, 2016 the composition of the Board of Commissioners Mandiri Tunas Finance as follows:
Results of Annual General Meeting 2015 Implementation Description
Approved and accepted Annual Report, 2014. Realized
Approve and determine the net profit of the financial year 2014. Realized
Approve establish and authorize the Board of Commissioners to select and determine the fees and other requirements for public accounting firm to audit the financial statements of the Company for the financial year ended on December 31, 2015
Realized
Give authority and power to the Board of Commissioners to determine the amount of Tantiem Board of Commissioners and Board of Directors in 2014.
Realized
Give authority and power to the Board of Commissioners of the amount of salary, emoluments and allowances of the Board of Commissioners and Board of Directors in 2015.
Realized
Give power and authority to the Board of Directors with the approval of the Board of Commissioners to transfer and / or make more than 50% of net assets of the Company as collateral on behalf of the Company to obtain new funding.
Realized
Receive report the use of proceeds from the Public Offering Sustainable Sustainable Bonds I Phase I Phase II and III and II Phase I in 2015 as it has been delivered.
Realized
Agreed to amend the Articles of Association Article 3, Article 11 paragraph 3 and Article 14 paragraph 3.
Realized
Approved the reappointment of Mr. Harjanto Tjitohardjojo and appoint Mr. Ade Cahyo Nugroho as Director
Realized
GMS 2015
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For newly appointed Commissioner granted Introduction Program. Undertaking programs that are in the introduction of the Corporate Secretary. The introduction material program includes: • Article of Association Mandiri Tunas Finance • Legislation related businesses Mandiri Tunas
Finance • Annual Report Mandiri Tunas Finance • Long-term plan • Annual Work Plan and Budget • Work Program BOC • Key Performance Indicator BOC
Appointment and Dismissal of the Board of CommissionersMembers of the Board of Commissioners are appointed and dismissed by the AGM in accordance with the laws and regulations.
Independence of the Board of Commissioners and Independent CommissionersAll members of the Board of Commissioners Mandiri Tunas Finance acted independently and free from intervention from any party.
Family Relations and Stewardship in Other CompaniesFamily relationships and the management of another member firm BOC with fellow members of the Board of Commissioners and / or members of the Board of Directors and Shareholders for the period of 2016 as follows:
Name
Family Relationship with Mandiri Tunas Finance Organ Management Relationship in Other Company
BOC BOD Shareholders As a BOC As a BOD As a Share-holders
Yes No Yes No Yes No Yes No Yes No Yes NoAnton Setiawan √ √ √ √ √ √Sarastri Baskoro √ √ √ √ √ √
Hanifah Purnama √ √ √ √ √ √
Between members of the Board of Commissioners and the members of the Board of Commissioners with the members of the Board of Directors are not related by blood to the third degree, either vertically or horizontally to the side or relationship by marriage.
Efforts to Minimize Conflict of InterestTo minimize conflicts of interest, any Member BoC is required to make the Special Register, which contains a description of share ownership Members of the Board of Commissioners and / or his family at Mandiri Tunas Finance as well as other companies. Special Lists are stored and administered by the executor function of Secretary of the Board of Commissioners.
Work Guidelines BOCBOC guided by the Employment Guidelines Board of Commissioners and Board of Directors (Board
Manual). The Board of Commissioners Work Guidelines contain: Duties of the Board of CommissionersBOC is the organ of the Company which are collectively in charge of supervising general or specific and in accordance with the Statutes and to provide advice to the Board of Directors. Position of each member of the Board of Commissioners, including Commissioner is similar. Duties Commissioner as primus inter pares is to coordinate the activities of the Board of Commissioners. Board of Commissioners are appointed and dismissed by the GMS. Board of Commissioners are appointed and dismissed by the GMS. In performing its duties, the Board of Commissioners is responsible to the GMS. BOC accountability to the GMS is a manifestation of accountability supervising the management of the company in the implementation of corporate governance principles.
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Decisions taken at the meeting of the Board of Commissioners Mandiri Tunas Finance has been recorded and documented in the minutes of meetings of the Board of Commissioners.Minutes of the meeting signed by the chairman of the meeting and all the participants and distributed to
all members of the Board of Commissioners who attended the meeting or not. Disenting opinion that occurs in the meeting will be included in the minutes of the meeting along with the reasons of the disagreement.
Board of Commissioner MeetingPeriod January-December 2016
Name Position Total Meeting Attendance Attendance Frequency
Anton Setiawan President Commissioner 12 12 100 %
Sarastri Baskoro Commissioner 12 12 100 %
Hanifah Purnama Independent Commissioner 12 12 100 %
Recommendation of the Board of CommissionersAll decisions of the Meeting, the combined BOC and BOD contained in the Minutes of the Meeting monitored follow-up completion at each subsequent meeting. Board of Commissioners perform their duties and functions in the provision of advice, including through the provision of recommendations, advice and direction of the Board of Commissioners to the Board.
COMMITTEES UNDER THE BOARD OF COMMISSIONERS
Committees under the Board of Commissioners is supporting organ BOC charge and is collectively responsible to assist the Board in exercising oversight and providing advice to the Board of Directors.
BOC has three (3) committees that assist the Board in exercising oversight over the course of management of the Company by the Board of Directors Audit Committee and Risk Management Committee.
The Audit CommitteeTo support the implementation of good corporate governance (GCG), BOC Mandiri Tunas Finance has established an Audit Committee assists the Board of Commissioners. Roles and responsibilities of the
Audit Committee, as set out in the Audit Committee Charter, is to provide opinions and support to the Board in fulfilling its responsibilities, including oversight of the system and the process of financial reporting, the audit process on financial statements of the Company, evaluation of implementation of internal control Company, evaluation of the performance of the internal Auditor of the Company, and the technical and operational performance monitoring as well as the fulfillment of the norm of law provisions and other invitees.
In order to safeguard and secure the business activities of PT. Mandiri Tunas Finance, as well as providing a foundation and guideline for the Audit Committee, which is the committee that helps the Board of Commissioners in performing the oversight functions especially in improving the quality of financial reporting, the effectiveness of internal controls over the management of the company, and compliance with laws and regulations, it is hereby established the Audit Committee Charter PT Mandiri Tunas Finance / Audit Committee Charter. Charter has been established by the Chairman of the Capital Market Supervisory Board No. KEP-29/PM/2004 dated 24 September 2004, regarding: Establishment and Implementation Guidance of the Audit Committee.
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Objective Establishment of Audit Committee • The Audit Committee was formed in order to
assist the Board in carrying out the company’s supervisory role, especially in terms of:
• Improve the quality of financial reporting. • Ensuring the effectiveness of the internal control
system can reduce the chance of irregularities in the management of the company.
• Oversee the qualification and independence of internal and external audit functions to improve the performance and effectiveness of the internal audit function and external audit.
• Identifying matters requiring the attention of the Board of Commissioners, including the company’s compliance with laws and regulations.
Position • The Audit Committee established by the Board of
Commissioners and is directly responsible to the Board of Commissioners.
• The Audit Committee work collectively and independently perform their duties to the company management.
• The Audit Committee reported the findings and evaluations that have been done to the BOC.
Membership1. Structure of the Audit Committee
a. Audit Committee consisting of at least 1 (one) independent directors and two (2) members.
b. Chairman of the Audit Committee is a member of the audit committee is independent of the company.
c. Audit Committee members are experts who are not employees of the company and has no connection with the company’s financial.
2. Requirements for Audit Committee Membershipa. High integrity, ability, knowledge and
experience are adequate according to educational background and be able to communicate well.
b. At least one member of the Audit Committee must have an educational background in accounting or finance.
c. Have enough knowledge to read and understand financial statements.
d. Have sufficient knowledge of the laws and regulations in the field of capital markets and related legislation.
e. Is not a person in a public accounting firm, law firm or others who provide audit services, or non-audit services and other consulting services to the company within 6 (six) months before being appointed by the Board of Commissioners.
f. Not persons having authority and responsibility for planning, directing or controlling the activities of the company within six (6) months prior to appointment by the Board of Commissioners unless an Independent Commissioner.
g. No shares either directly or indirectly in the company.
h. Does not have : • a family relationship by marriage and
descent to the second degree, both horizontally and vertically with the Commissioner, the Board of Directors or majority shareholder of the company, or
• a business relationship, directly or indirectly related to the company’s business activities.
3. Work Perioda. Audit Committee members are appointed
and dismissed by the Board of Commissioners. Replacement of members of the Audit Committee may be gradual or not simultaneously.
b. Audit Committee member terms should not be longer than the term of office of the Board of Commissioners as set out in the articles of association and may be reelected only for one (1) term.
c. Chairman of the Audit Committee is entitled to propose a replacement candidate, honorarium and allowances members of the Audit Committee if one of the members of the Audit Committee ended its term, the gradual replacement/do not coincide, resign, or be dismissed.
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Privileges Committee • Member of the Audit Committee must know
and understand their roles and responsibilities in accordance with its Charter, which is the Audit Committee Guidelines.
• The Audit Committee and the assignment to accept the authority of the Board of Commissioners with regard the regulations related to capital markets.
• In performing its duties the Audit Committee is authorized to access records or information about employees, funds, assets and other resources related to the company’s performance of its duties.
• Audit Committee based on a letter of assignment from the commissioner, has the right of access to information in the company of directors, internal audit and all organizational units in case of a company/indications of irregularities which the audit committee needs to examine or clarify these cases.
• Audit Committee with the approval of the commissioner can seek advice and help from experts and other professionals at the expense of the company.
Duties and responsibilitiesThe Audit Committee is responsible for giving opinions to the Board of Commissioners on reports or things that are submitted by the Board of Directors to the Board of Commissioners, identify matters that require the attention of the commissioner, and carry out other tasks related to the duties of the Board of Commissioners include: • Reviewing the financial information that will be issued
by the company such as financial reports, projections and other financial information.
• Conduct periodic review of the audit implementation by both internal and external audits.
• Conduct periodic review of the company upon obedience to the laws and regulations relating to the activities of the company.
• Provide recommendations regarding the improvement of the internal control system the company and its implementation.
• Report to the Board of Commissioners of the various risks facing the company and the implementation of risk management by the Board of Directors.
• Carry out tasks assigned by the Board of Commissioners along within the scope of duties and responsibilities of the Audit Committee.
• Maintain the confidentiality of documents, data and information on the company and used only for the benefit of the implementation of tasks.
Relationship With Related Parties • In carrying out its duties and responsibilities,
the Audit Committee communicates with the external auditors, internal auditors and company management.
• The role of the Audit Committee in conjunction with the external auditor are:a. Conduct a review of the work of external
auditors.b. Discussing the results of the audit with the
external auditor.c. If necessary, the Committee could conduct
a discussion on the results of the audit with management, the external auditor and the internal auditor.
d. Conduct a review of the performance of the external auditor to ensure compliance with the external auditor to apply professional standards, including the independence of the external auditor.
• The role of the Audit Committee in connection with the Internal Audit are:a. Receive and review reports of internal auditors.b. Monitoring follow-up results of an internal
audit.c. Ask internal audit to conduct a special
examination / specific permission from the Board of Commissioners.
d. Giving feedback on the content of the Internal Audit Charter / Internal Audit Charter.
e. Coordinate with internal audit and external audit in order to achieve a comprehensive audit results and optimal.
f. Reviewing internal audit reports relating to conflicts of interest, or unlawful acts.
• The role of the Audit Committee in conjunction with the Management Company are:a. Evaluate the adequacy of the disclosure of
matters that are material to the company’s financial statements.
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b. Assessing the adequacy of internal control and risk management policies of the company.
c. Assessing the company policy related to regulatory compliance company’s internal and external force, code of ethics (code of conduct) and conflicts of interest (conflict of interest).
d. Ensure that the management of the company carry out a follow up on the recommendations of the internal audit and external audit.
e. Identify and monitor problems that require the attention of the Board of Commissioners.
f. Company management invited to attend the meeting of the audit committee, if necessary.
Composition of Audit Committee Member
The composition of auditcCommittee member is as follow:
Name Position In Audit
Hanifah Purnama Head of Audit Committee Finance and Banking
Rodion Wikanto Njotowidjojo Member Finance and Banking
Sunardi Edirianto Member Internal Control and Banking
Report • Audit Committee make a report on any special
assignments given by the Board of Commissioners.
• If the Audit Committee to find things that are expected to disrupt the activities of the company and is material, the Audit Committee will report to the Board of Commissioners.
• The Audit Committee made the implementation of the Annual Report of the Audit Committee to the Board of Commissioners.
Conflict and Code of Conduct • To avoid any potential conflict, the Audit
Committee hold fast to the principles of good corporate governance which include transparency, accountability, responsibility, independence and fairness / fairness.
• In performing its duties, the Audit Committee cling to the code of professional conduct, both related to the expertise of each member of the Audit Committee, as well as the code of professional conduct of the Audit Committee.
Others • Piagam Komite Audit ini dapat ditinjau secara
berkala untuk disesuaikan dengan perkembangan peraturan yang berlaku.
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Audit Committee Meeting • Quarterly Audit Committee Meetings held four
times a year, with a specified schedule, and focus on the discussion of the Financial Statements (Balance Sheet and Profit and Loss) and the Company’s Quarterly Performance.
• Monthly meetings of the Audit Committee carried out once in every month, if necessary, with the meeting agenda previously agreed. Monthly meetings are not held in the month in which the meeting is held quarterly. The focus of the monthly meetings is the discussion of the results of the Internal Audit General.
• Chairman of the Audit Committee may invite the Board of Commissioners, Directors, Internal Auditor, the External Auditor, Vice Shareholders and other persons required to attend the meeting.
• The meeting of the Audit Committee stated in the Minutes of Meeting, signed by all members of the Audit Committee were present and the Minutes of Meeting distributed to all attendees to get attention and follow-up.
• The Audit Committee may attend the meeting of the Board of Commissioners or a joint meeting of the Board of Directors and Board of Commissioners if necessary.
Name Position Total Meeting Attendant Attendant Frequency
Anton Setiawan President Commissioner 10 10 100 %
Sarastri Baskoro Commissioner 10 10 100 %
Hanifah Purnama Independent Commissioner/Head of Audit Committee 10 10 100 %
Ignatius Susatyo Wijoyo President Director 10 10 100 %
Arya Suprihadi* Director 10 6 60 %
Harjanto Tjitohardjojo Director 10 8 80 %
Rodion Wikanto Audit Committee Member 10 10 100 %
Sunardi Edirianto Audit Committee Member 10 10 100 %
*Appointed based on shareholder decision as of September 30, 2016
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Corporate Governance
Hanifah PurnamaHead of Audit Committee
Audit Committee Profile
Profile can seen in the Board of Commissioner Part
Hanifah PurnamaHead of Audit Committee
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Indonesian citizen, born in Jakarta on August 31, 1961.
Having background of education of Mechanical Engineering from AkademiTeknik Mesin Industri (ATMI), Solo (1984) and obtained his Master of Business Administration from IPWI Jakarta (1992).
Serving as a member of the Audit Committee of the Company since 2009 until present. He currently serves as a member of Audit Committee in several companies, namely PT Indo Kordsa Tbk (2007-present), PT Tunas Ridean Tbk (2007-present), and PT Sierad Produce Tbk (2009-present), PT Multi Bintang Indonesia Tbk (2014-present).
He once served as Manufacturing Director at PT United Can Company (2003-2006).
Rodion Wikanto NjotowidjojoCommittee Audit Member
Rodion Wikanto NjotowidjojoCommittee Audit Member
At ADR Group of Companies (1992– 2003), he served in several key positions, such as President Director of PT Bank Eksekutif Internasional (1993-1998) and President Director of PT Adrindo Executive Finance (1998-1999), as a Vice President at PT Selamat Sempurna Tbk (1998-2001), as Director of Operations at PT Prapat Tunggal Cipta (1998-2002), and as Independent Commissioner and Head of Audit Committee at PT Andhi Chandra Automotive Product Tbk (2001-2003). As Business Development Manager at PT Inti Putramodern (1988- 1992), as Assistant Production Director at PT Matahari Alka (1987-1988). Starting his career at PT Cakung Utama Indonesia as Assistant Factory Manager (1984-1987).
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Indonesian citizen, born in Kuningan, West Java, on December 4, 1953, 62 years old.
Earned his Bachelor of Economics from Krisnadwipayana University, majoring Management of Finance in 1984. He also received his Magister of Law from Diponegoro University in 2008.
Starting his career in the Company as a member of Audit Committee since 2009 until present. He once served as Regional Internal Control Manager – Assistant Vice President of PT Bank Mandiri (Persero) Tbk. Regional Office VII Semarang (2006-2009), Temporary Officer/ad interim (Pjs.) Deputy Regional Manager of PT Bank Mandiri (Persero) Tbk. At Regional Office VII, Semarang
(2007-2008),Senior Team Leader of Audit Group at PT Bank Mandiri (Persero) Tbk 2005-2006), Senior Team Leader of Audit Retail, Risk Management, Finance & Support of Department of Internal Audit Group at PT Bank Mandiri (Persero) Tbk. (2000-2004) Senior Relationship Manager of Bank Bumi Daya, Duta Merlin Branch, Jakarta 1998-2000), Internal Control of Bank Bumi Daya, Duta Merlin Branch, Jakarta (1997-1998), Relationship Manager of Bank Bumi Daya at Kudus Branch (1992-1997), Cash Division Head – Rupiah & Foreign Currency of Bank Bumi Daya Mataram Branch Lombok – NTB (1986-1992). Starting his career at Head Office of Control Credit Affairs of Bank Bumi Daya, as Auditor (1976- 1985).
Sunardi EdiriantoCommittee Audit Member
Sunardi EdiriantoCommittee Audit Member
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Legal Basis of Appointment and Period of Tenure of the Audit Committee MemberThe Company’s Audit Committee’s members have terms of office effective from March 12, 2012 until the end of the Board of Commissioners’ terms of office in 2017, without limiting the right of the Board of Commissioners to replace the members of the Audit Committee. The current Audit Committee was appointed based on the Decree of Board of Commissioners of PT Mandiri Tunas Finance: Kep.Kom/002/2009 dated October 15, 2009 which were subsequently re-appointed entirely by virtue of the Decree of the Board of Commissioners of PT Mandiri Tunas Finance Number: KEP.KOM/001/2012 dated March 12, 2012.
Duties and Responsibilities of the Audit Committee1. Evaluating financial statements of the Company
by referring to the regulation and the accounting principles.
2. Providing opinion to the Board of Commissioners on report or any matters conveyed by the Board of Directors to Board of Commissioners and identifying any matters that require attention of the Board of Commissioners.
3. Reporting various risks that might be posed to the Company and the implementation of risk management by the Board of Directors to the Board of Commissioners.
4. Analyzing scope and compliance of external audit, external audit honorarium as well as independency and objectivity of the external audit.
5. Evaluating the implementation and the effectiveness of the Company’s internal control.
6. Evaluating the Company’s level of compliance on Capital Market rules and other regulations linked to the activity of the Company.
7. Undertaking other duties given by the Board of Commissioners such as visiting branch offices of the Company
In performing its duties, the Audit Committee complies with the Regulation of Bapepam No. IX.I.5 of the Attachment of Decision of Head of Bapepam and LK No. Kep. 643/BL/2012 dated December 7, 2012 on the Establishment and Work Guidelines of Audit Committee as well as the Audit Committee Charter of the Company dated September 25, 2013.
Brief Report on the Implementation of The AuditCommittee Activities Audit Committee runs its duties and functions based on Audit Committee Charter that has been approved by Board of Commissioners on September 25, 2013. Audit Committee Charter has been developed based on the regulatoin of Capital Market Supervisory Board. Based on the Audit Committee Charter, Audit Committee is formed by the Board of Commissioners with the purpose to assist the Board of Commissioners in performing advisory duty to the Company. Therefore, Audit Committee is responsible to Board of Commissioners.
During 2015, the Audit Committee conducted 11 (eleven) meetings with the Board of Commissioners, the Board of Directors, and the Internal Audit Division; 3 (three) meetings with the Retail Audit of Bank Mandiri Group; and 2 (two) meetings with the External Auditor. Activities conducted in 2015 are as follows:1. Conducting meeting with the External Auditor to
discuss the annual financial statement overview result as well as its quality comprehensively.
2. Analyzing the quarterly financial statement before it is publicly published.
3. Conducting evaluation with the management on the effectiveness of the internal control.
4. Periodically, once in a month, discussing the findings of the Internal Audit with the Internal Audit Division, Board of Directors, and Board of Commissioners.
Independency of Members of Audit CommitteeMembers of Audit Committee are professionals who are not employee of the Company, have educational background and experience in accounting, and have knowledge on law or matters relating with the operations or culture of the Company.
Audit Committee also has no relationship with the Board of Directors, Board of Commissioners, and shareholders. The Audit Committee is an external party of the Company and has no interest/personal interest that can cause negative impact and conflict of interest with the Company. The Audit Committee complies with the applicable laws and regulations at the Company in conducting its duties.
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Table of Independency
Aspect of Independency Hanifah Purnama
Rodion Wikanto
Sunardi Edirianto
Does not have a financial relationship with the Board of Commissioners and Board of Directors √ √ √Does not have management relationship at Mandiri Tunas Finance, subsidiaries and companies affiliated extremists √ √ √
Does not have shares in Mandiri Tunas Finance √ √ √Does not have any family relationship with the Board of Commissioners, Directors and/or fellow members of the Audit Committee √ √ √
Does not serve on the board of political parties, local government officials √ √ √
Audit Committee Meeting
Period January-December 2016
Name Position Total Meeting Attendant %Anton Setiawan President Commissioner 10 10 100%
Sarastri Baskoro Commissioner 10 10 100%
Hanifah Purnama Independent Commissioner/Head of Audit Committee 10 10 100%
Ignatius Susatyo Wijoyo President Director 10 10 100%
Arya Suprihadi* Director 10 6 60%
Harjanto Tjitohardjojo Director 10 8 80%
Rodion Wikanto Audit Committee Member 10 10 100%
Sunardi Edirianto Audit Committee Member 10 10 100%
*Diangkat berdasarkan keputusan pemegang saham per tanggal 30 September 2016*
Risk Oversight Committee
Risk Oversight Committee established by the Board of Commissioners pursuant to Decree of BOC No. KEP.KOM/01/2016 dated 28 September 2016 regarding the Establishment and Appointment of Risk Monitoring Committee in order to assist the Board of Commissioner in monitoring the implementation of enterprise risk management application developed by the Board of Directors.
Formation Committee guided by and based on the regulations include:1. Regulation of the Financial Services Authority
No. 10/POJK.05 / 2014 on the Assessment of Risk Level Institutions Non-Bank Financial Services.
2. Regulation of the Financial Services Authority No. 1/POJK.05/2015 concerning Application of Risk Management for Financial Services Institutions Non-Bank.
3. Circular of the Financial Services Authority No. 4/SEOJK.05/2015 on the Assessment Level of Risk Financing Company.
4. Circular of the Financial Services Authority No. 1/SEOJK.05/2016 on the Assessment of Financial Soundness Financing Company.
5. Circular of the Financial Services Authority No. 10/SEOJK.05/2016 on Guidelines for Implementation of Risk Management and Self Assessment Report Risk Management for Financial Services Institutions Non-Bank.
The structure and composition of the Risk Oversight Committee by Decree of the Board of Commissioners No. KEP.KOM/01/2016 dated 28 September 2016 regarding the Establishment and Appointment of Risk Oversight Committee, consisting of at least 1 (one) Independent Commissioner, and 2 (two) committee members.
Composition of Risk Oversight Committee
Name Position
Hanifah Purnama Independent Commissioner/Head of Committee
Sarastri Baskoro Commissioner/Committee Member
RM Indra Wardhana Head of Risk Management Division/Committee Member (Ex Officio)
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In addition to required that members of the Risk Oversight Committee shall have integrity, good character and morals, members of the Remuneration and Nomination bank also required to meet the requirements of ability and experience as well as the requirements of Independence, namely:
Membership Requirements Risk Oversight Committee:1. Members of the Committee shall have a high
integrity, ability and experience relevant to the field of work and be able to communicate well.
2. At least one member of the Risk Oversight Committee should have a background in risk management.
3. Understand the company’s business, especially risk management and the laws and regulations related to business financing.a. Have enough knowledge to read and
understand financial statements and the related reports of monitoring the implementation of risk management policies of finance companies.
b. Willing to increase the competence continuously through education and training.
c. Not a member of the Board of Directors
Tenure
BoC Decree No. KEP. KOM/01/2016 dated 28 September 2016 regarding the Establishment and Appointment of the Risk Oversight Committee,stipulates that the term of office of committee members should not be longer than the term of office of the board of commissioners
as stipulated in the articles of association, without prejudice to the right of the Board of Commissioners to dismiss at any time.
Powers, duties and responsibilities of the Risk Oversight CommitteeIn performing its duties the Risk Oversight Committee has the authority to be able to access documents, data and information company, to communicate directly with employees, including Directors and those who perform the function of internal audit and risk management, involving independent parties are necessary and perform other powers granted commissioners so that they can and is responsible for carrying out the tasks of the committee monitors risks include the following:
1. Directs the policy, strategy and risk management framework compatible with the risk appetite and risk tolerance;
2. Conduct a review of the suitability of the company’s risk management policy with the implementation of these policies;
3. To monitor the implementation of the tasks Risk Management unit;
4. Conduct a review on the risk profile report and / or the degree of risk;
5. Reviewed the report the financial soundness of the company;
6. Monitor the adequacy of the identification process, monitoring, control and risk management information system.
Table of Independency
Aspect of Independency Hanifah Purnama Sarastri Baskoro RM Indra Wardhana
Does not have a financial relationship with the Board of Commissioners and Board of Directors √ √ √
Does not have management relationship at Mandiri Tunas Finance, subsidiaries and companies affiliated extremists √ √ √
Does not have shares in Mandiri Tunas Finance √ √ √
Does not have any family relationship with the Board of Commissioners, Directors and/or fellow members of the Audit Committee
√ √ √
Does not serve on the board of political parties, local government officials √ √ √
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Implementation of the Risk Oversight Committee MeetingAs described in the Decree of the Board of Commissioners No. KEP.KOM/01/2016 dated 28 September 2016 regarding the Establishment and Appointment of Risk Monitoring Committee, Risk Monitoring Committee shall convene quarterly committee which is implemented four times a year with the specified schedule. The Committee can also conduct monthly meetings as necessary with the meeting agenda previously agreed. In practice, the Chairman of the Committee invites all members of the committee and all members of the Board
of Commissioners to attend a meeting chaired by its Chairman or a designated member in writing if the chairman was unable to attend. Risk Oversight Committee meeting is considered valid if attended by more than ½ (one half ) the number of members, including the commissioners and independent parties.
Since its inception, the Risk Oversight Committee has held a meeting 1 (one) time with the level of attendance of each member of the Audit Committee meeting is as follows:
Name Position Total Meeting Attendant Percentage
Hanifah Purnama Independent Commissioner/Head of Committee
1 1 100 %
Sarastri Baskoro Commissioner/Committee Member 1 1 100 %RM Indra Wardhana Head of Risk Management Division/
Committee Member (ex officio)1 1 100 %
Nomination and Remuneration Committee
Mandiri Tunas Finance has the Risk Oversight Committee which assists the Board of Commissioners aimed at doing the monitoring, supervisionand an assessment of the nomination and remuneration’s effectiveness.
Basic Formation of the Nomination and RemunerationThe Company’s commitment to implement the principles of good corporate governance (GCG) becomes an important element to support the Company became the largest financing institution, the best and trusted in Indonesia.
One of the executive organs of corporate governance is the Board of Commissioners has the authority under the general supervision and / or special on the course of the Company’s business activities and provide advice / feedback / recommendations to the Board of Directors. With reference to the regulation or the provisions of Law No. 40 of 2007 on Limited Liability Companies, and as one of the supervision of the Board of Commissioners that perform the function of the nomination and remuneration of
the members of the Board of Commissioners, Board of Directors, Member of the Committee under the Board of Commissioners, as well as the framework of the Nomination and Remuneration officers of the Company and its employees as a whole shall be established a Nomination and Remuneration Committee ,
Expected by there is a Nomination and Remuneration Committee, the Nomination and Remuneration committee process of the Company and other Company executive organ can be done in a transparent and accountable in accordance with the Company’s business development and ultimately to improve the confidence of shareholders and other stakeholders of the Company’s management.
RequirementsMember of Nomination and Remuneration Committee shall meet the requirements of ability and experience and independence requirements, namely:1. Have integrity, objectivity and high ethical;2. Having adequate knowledge including the rules
and regulations as well as prevailing;
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3. At least one of the committee members must have the educational background or work experience in the field of the nomination, remuneration of employees, or Human Resource Development;
4. Able to be independent that is capable of performing the task in a professional manner without any conflict of interest and influence / pressure from any party;
5. Willing to improve competencies continuously through education and training;
6. It is not a person in the Office of Legal Counsel, Office of Human Resources Consultants, Consultants Business Development Office, or any other party that provides the service assurance, non-assurance services, and / or other consulting services to the Company within six (6) months prior was appointed as a member of the committee by the Board of Commissioners.
Member of Nomination and Remuneration Committee ProfileThe Committee is chaired by an Independent Commissioner. One member of the Committee, namely the members of the Committee who occupy managerial positions belowDirectors in charge of human resources designated as Secretary of the Committee.
In accordance with the Decree of the Board of Commissioners KEP. KOM/01/2014 dated 26 November 2014, the composition of the Nomination and Remuneration Committee of PT Mandiri Tunas Finance are as follows:
Hanifah PurnamaChairmanProfile has been described in BOC Profile
Sarastri BaskoroMemberProfile has been described in BOC Profile
Nenny Lasmanawati*Secretary concurrently member*) Served until October 31, 2016
Appointment and Dismissal of the Nomination and Remuneration CommitteeNomination and Remuneration Committee, established by the Decree of the Board of Commissioners and is responsible to the Board of Commissioners.
Nomination and Remuneration Committee work collectively and independently perform their duties to the Company’s management.
In accordance with the Charter of the Nomination and Remuneration PT Mandiri Tunas Finance enacted in Jakarta on October 29, 2014, it was arranged that the number of Nomination and Remuneration Committee of PT Mandiri Tunas Finance consist of at least three (3) members with the provisions of one of the members of the Committee an independent commissioner, the other committees may come from members of the Board of Commissioners, those who occupy managerial positions under the Board of Directors.
Appointment of members of the Nomination and Remuneration Committee of PT Mandiri Tunas Finance decided by BOC Decree No. KEP.KOM/01/2014 dated November 26, 2014.
Committee members appointed for a certain period and can be reappointed. The term of office of Board of Commissioners is also a member of the same committee with terms of his appointment as member of the Board of Commissioners are determined by the Articles of Association or the General Meeting of Shareholders. The term of office of Committee members who did not come from the Board of Commissioners can not be longer than the term of office of the Board of Commissioners. BOC may dismiss at any time members of the Committee who are not members of the Board of Commissioners, if based on the consideration of the relevant committee chairman does not do their job properly.
Number and composition of the Nomination and RemunerationThe Committee is chaired by an Independent Commissioner. One member of the Committee, namely the members of the Committee who occupy managerial positions under the Board of Directors in charge of human resources designated as Secretary of the Committee.
In accordance with the Decree of the Board of Commissioners KEP.KOM/01/2014 dated 26 November 2014, the composition of the Nomination and Remuneration Committee of PT Mandiri Tunas Finance.
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And based on the Decree of the Board of Commissioners KEP.KOM/002/SK-NR/VIII/2015 dated August 27, 2015 on the Amendment Membership Nomination and Remuneration Committee of PT Mandiri Tunas Finance, the composition of the Nomination and Remuneration Committee of PT Mandiri Tunas Finance to be as follows:
Name Position
Hanifah Purnama HeadSarastri Baskoro MemberNenny Lasmanawati* Members concurrently secretary
*Served until October 31 2016
Nomination and Remuneration Committee CharterIn carrying out their functions and roles, Nomination and Remuneration Committee of PT Mandiri Tunas Finance has been furnished Charter Charter set on October 29, 2014. Work Guidelines Nomination and Remuneration Committee, set up several issues related to:a. Duties and Responsibilities of the Committeeb. The authority of the Committee,c. Committee meetings andd. Committee Organization
Charter of the Nomination and Remuneration Committee periodically reviewed to ensure that the scope of these guidelines are always in line with the needs, and/or other applicable regulations.
Independency of Nomination and Remuneration Committee MemberCommittee shall meet the requirements of ability and experience and independence requirements in charge of human resources and those from outside the Company must have experience related to the Nomination and Remuneration Committee and can not be doubled as other committee members of the Company, the independence of the Nomination Committee Remuneration also include;1. Have integrity, objectivity and high ethical;2. Having adequate knowledge including the rules
and regulations as well as prevailing;3. At least one of the committee members must have
the educational background or work experience in the field of the nomination, remuneration of employees, or Human Resource Development;
4. Able to be independent that is capable of performing the task in a professional manner without any conflict of interest and influence / pressure from any party;
5. Willing to improve competencies continuously through education and training;
6. It is not a person in the Office of Legal Counsel, Office of Human Resources Consultants, Consultants Business Development Office, or any other party that provides the service assurance, non-assurance services, and / or other consulting services to the Company within six (6) months prior was appointed as a member of the committee by the Board of Commissioners.
Table of Independency
Independency Aspect hanifah purnama Sarastri baskoro Nenny Lasmanawati
Does not have a financial relationship with the Board of Commissioners and Board of Directors √ √ √
Does not have management relationship at Mandiri Tunas Finance, subsidiaries and companies affiliated extremists √ √ √
Does not have shares in Mandiri Tunas Finance √ √ √Does not have any family relationship with the Board of Commissioners, Directors and/or fellow members of the Audit Committee
√ √ √
Does not serve on the board of political parties, local government officials √ √ √
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Functions, Authority and Duties of Nomination and Remuneration Committee
Functions:1. To develop, implement and analyze the criteria and
nomination procedures, for candidates for Board of Directors and Board of Commissioners and dismissal procedures of Board of Directors and Board of Commissioners;
2. To identify the candidates for Board of Directors and Board of Commissioners, both from inside and outside the Company who qualify to be proposed/appointed as Board of Directors or Board of Commissioners;
3. To develop the criteria for Board of Directors’s performance assessment;
4. To propose an appropriate remuneration system for Board of Directors and Board of Commissioners in the form of payroll systems, provision of facilities and allowances, options granted and retirement systems;
5. To ensure the Company’s compliance with the provisions, and or OJK regulations, the Ministry of Manpower, and other relevant regulations including matters that become the decision of GMS of the Company; and
6. To support human resource development activities professionally.
Authority:1. The Committee can access the records or information
about employees of the Company related to the implementation of its duties;
2. In implementing the authority as set out in point 1 above, the Committee in collaboration with partners including the Secretary of the Board of Commissioners, Supporting Committee of Board of Commissioners, related team at the management level, especially the Human Resources Development Division, and other related work units of the Company (if required);
3. The Committee has the authority to communicate directly with employees, including Board of Directors and parties related to the implementation of its duties;
4. If necessary, the Committee may involve experts and/or consultants/independent parties outside the committee or forming an ad hoc team that is needed for assisting the implementation of its duties at the Company’s expenses;
5. Committee carries out other authority granted by the Board of Commissioners;atas biaya Perseroan;
Duties and Responsibilities of Nomination and Remuneration CommitteeDuties and Responsibilities related to the Remuneration Function:1. To evaluate the Company’s remuneration policy
that includes salaries, honorarium, Allowances (THR), Benefits (medical, health, loan facility, and others), Bonuses/Incentives (for the employees), and performance bonuses (for the Board of Commissioners and Board of Directors);
2. To provide recommendations to the Board of Commissioners regarding the remuneration policy for members of Board of Directors and/or Board of Commissioners to be submitted to General Meeting of Shareholders (GMS) and to submit the overall policy of executive officers and employees remuneration to the Board of Directors; and
3. To ensure that the Company’s remuneration policy is in accordance with the Company’s financial performance and reserve criteria according to the prevailing regulations, the evaluation of individual’s job performance, peer groups’ fairness, inside and outside of the Company, and the Company’s long-term development strategy.
Duties and Responsibilities Related to the Nomination Function:1. To provide recommendations to the Board of
Commissioners regarding the membership of Board of Directors and/or Board of Commissioners;
2. To provide recommendations to the Board of Commissioners regarding the policies, and the criteria required in the nomination of Board of Directors and/or Board of Commissioners members.
3. To provide recommendations to the Board of Commissioners on name of the candidates for members of Board of Directors and/or Board of Commissioners;
4. To review and propose the succession plan of Board of Directors and/or Board of Commissioners members;
5. To conduct an assessment based on benchmark that has been developed as a performance evaluation and capability development of Board of Directors and/or Board Commissioners;
6. To provide recommendations to Board of Commissioners regarding the performance evaluation policy to Board of Directors and/or Board of Commissioners members;
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7. To provide recommendations on the independent party that will become a member of Committee under Board of Commissioners.
8. To recommend approval of changes in the organizational structure to one level below Board of Directors.
Implementation of Nomination and Remuneration Committee Duties1. Discussing the Regulation of Minister of SOE No.
PER-04/MBU/2014.2. Nominating the members of Board of Directors.3. Discussing the Proposal for the Remuneration of
the Management to be submitted to the GMS.4. Discussing the Member for Independent
Committee in line with POJK issued in 2014.5. Discussing the Plan to Improve the Skills of Board
of Commissioners and Board of Directors.6. Compiling the Nomination Process Guideline
for the Board of Commissioners and Board of Directors’ Candidates
7. Preparing Remuneration Policy for the Members of Board of Commissioners and Board of Directors.
Nomination and Remuneration Committee MeetingIn accordance with the Work Guidelines for Nomination and Remuneration Committee, Nomination and Remuneration Committee Meeting is held in accordance with the needs and assignments of the Board of Commissioners, at least once a year.
Committee meeting decision is made by consensus. In the event that consensus agreement is not reached, the decision is made through voting. The results of the Committee meeting shall be recorded in the minutes of the meeting, signed by all members present, and well documented by Committee Secretary. Dissenting opinions in the decision-making process in the Committee meeting shall be clearly stated in the minutes of the meeting and the reasons for such dissenting opinions.
The implementation of Committee functions is transparent and accountable. The Committee reports to the Board of Commissioners on any assignment given or for any identified issues requiring the Board of Commissioner’s attention.
OTHER COMMITTEES UNDER THE BOARD OF COMMISSIONERS
In addition to the above committee, there is no other committees under the Board of Commissioners.
Secretary of the Board of CommissionersIn supporting the implementation of the functions and effectiveness of the Board of Commissioners, Board of Commissioners is assisted by the Secretary of the Board of Commissioners.
Functions and assignments Secretary of the Board of Commissioners include:1. Administer Board of Commissioner meeting
invitations;2. As a liaison Board of Commissioners and Board of
Directors,3. Make outgoing letters and papers documenting
the BOC4. Prepare the meeting materials and prepare minutes
of meetings of the Board of Commissioners,5. Perform other secretarial duties6. provide assistance summary management
reports,7. collect material and information relevant to the
implementation of the duties of the Board of Commissioners
8. To coordinate with the Secretary of the Company on matters relating to the Board of Commissioners and Board of Directors.
Board of DirectorBoard of Directors is Company Organ which in charge and collectively responsible for managing Mandiri Tunas Finance as well as implement corporate governance at all levels of the organization.
Terms, Membership and CompositionAll members of the Board of Directors have met the formal requirements and applicable material. General formal requirements, the appropriate laws and regulations in force, while the material requirements are specific, tailored to the needs and nature of the Company’s business.
Mandiri Tunas Finance Directors consists of:
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Name Position Appointment Date End of Tenure
Ignatius Susatyo Wijoyo President Director February 6, 2012 GMS 2017
Ade Cahyo Nugroho* Director April 13, 2015 GMS 2018Harjanto Tjitohardjojo Director April 13, 2015 GMS 2018Arya Suprihadi** Director September 30, 2016 GMS 2019
*) Resign at August 15, 2016 and approved by GMS at August 30, 2016*Appointed based on shareholder decision as of September 30, 2016a
Fit & Proper TestAll members of the Board of Directors Mandiri Tunas Finance has the integrity, competence, reputation
and the experience and expertise needed to carry out the functions and duties of each.
Name Pass
Ignatius Susatyo Wijoyo √
Ade Cahyo Nugroho √
Harjanto Tjitohardjojo √
Arya Suprihadi √
Board of Directors IndependencyIn accordance with the Articles of Association of Mandiri Tunas Finance, among members of the Board of Directors and the members of the Board of Directors
by the Board of Commissioners did not have a family relationship to the third degree either vertically or horizontally laterally including relationships arising from marriage.
Name
Family Relationship with Mandiri Tunas Finance Organ Management Relationship in Other Company
BOC BOD Shareholders As a BOC As a BOD As a BODYes No Yes No Yes No Yes No Yes No Yes No
Ignatius Susatyo Wijoyo √ √ √ √ √ √Ade Cahyo Nugroho √ √ √ √ √ √Harjanto Tjitohardjojo √ √ √ √ √ √Arya Suprihadi √ √ √ √ √ √
Efforts to Minimize Conflict of InterestTo minimize conflicts of interest, each director is also required to make the Special Register, which contains a description of share ownership of each Director and / or his family at Mandiri Tunas Finance as well as other companies. Special Lists are stored and administered by the Corporate Secretary.
Work Guidelines DirectorsThe Board of Directors based on the Employment Guidelines of Directors (Board Manual). Board Manual contains instructions on how to practice and the Board systematic, easy to understand and can be run
with a consistent, it can be a reference for the Board of Commissioners and Board of Directors in carrying out their respective duties to achieve the Vision and Mission, which is expected to achieve a high standard of work that is in harmony with the principles of corporate governance.
Board Manual is based on the principles of corporate law, the provisions of the Statutes, regulations and statutory provisions in force, the direction of the Shareholders and best practices (best practices) Good Corporate Governance.
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Duties and Responsibilities of Board of DirectorsIn carrying out their duties and responsibilities, the Board of Directors always hold and guided by the Articles of Association and internal regulations and legislation in force.
Duties Of DirectorsIn addition, the Board of Directors has the right and authority to establish policies related to the management of the Company, including policies in the field of employment. Employment-related policies implemented by the Company’s internal rules and laws and regulations applicable in the field of employment. The Board of Directors also has the power to regulate the issue of delegation of authority/power of attorney to represent the Company’s Board of Directors in and out of court. In general, the duties of Board of Directors are as follows:1. Principal duties of the Board of Directors:
a. Conducting all actions related to the management of the Company, for the sake of the Company and in line with the aims and objectives of the Company.
b. Representing the Company, both inside and outside the Court, regarding all issues and events with limitations stipulated in the rules and regulations, Articles of Association and/or GMS resolutions.
c. Control, maintain and manage the Company’s assets.
2. Collective duties of the Board of Directors:a. Determining the Company’s vision, mission
and strategies.b. Determining the corporate policy of the
Company.c. Determining the proposal and changes of the
Company’s Long-Term Plan as well as Work and Budget Plan, in line with the prevailing regulations.
d. Determining target of and evaluating the performance of the Company, including dividend policy, through an organizational mechanism in line with the prevailing regulations.
e. Striving to achieve the performance target to be used as a benchmark to assess the health level of the Company in accordance with
the performance agreement stipulated and determined in the “GMS to Approve the RKAP”.
f. Approving non-routine investment projects that are outside the authority of the Board of Directors and monitoring the implementation.
g. Determining the organization structure and officials of the Company to a certain level, and stating it through Board of Directors’ Decree.
As stipulated in the article 92 paragraph 5 of the Law of Limited Liability Company No. 40 of 1997, distribution of management duties and authority for each member of Board of Directors is determined by the GMS. Each member of the Board of Directors have specific duties and responsibilities that are set out in the Board of Directors meeting, namely:
Ignatius Susatyo Wijoyo as the President Director1. Coordinating the implementation of the
Company’s management as stipulated in the Articles of Association and the Company’s GMS resolution by considering the prevailing laws and regulations.
2. Preparing direction for any necessary changes to meet the challenges of business competition by encouraging business units to make more dynamic and competitive products.
3. Coordinating the smooth implementation of the duties relating with the Business Unit and Supporting Unit so as to run smoothly, efficiently and effectively.
4. Directing and controlling the divisions under him.5. Enhancing the Company’s image by building
good relationships with all stakeholders.6. Fully responsible for the performance of his duties
in the interest of the Company to achieve the purposes and objectives.
7. Coordinating the implementation of the Company’s social responsibility activities and encouraging the implementation of good corporate governance principles in the Company.
8. Personally responsible when he is guilty or negligent in discharging his duty to meet the Company’s interests and businesses.
9. Being Entitled and authorized to act for and on behalf of the Board of Directors and representing the Company and having the rights to appoint one or more members as the vice or attorney by providing them specific authority to act as stipulated in the Letter of Authority.
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10. Coordinating the implementation of duties conducted by other Board of Directors
Arya Suprihadi as the Finance Director1. Leading and directing the Company’s financial strategy
as well as short-term, medium-term and long-term financial objectives and targets comprehensively.
2. Leading and directing bookkeeping and reporting activities in order to establish a measurable financial system with proper and appropriate policy and procedure so as to provide timely, complete, consistent, reliable and measured financial information.
3. Directing and supervising divisions under his jurisdiction.
4. Assisting the President Director in directing the necessary changes to meet the challenges of business competition by encouraging business units to produce more dynamic and competitive products.
5. Being fully responsible for the performance of his duties for the interest of the Company to achieve the purposes and objectives.
6. Being personally responsible when is guilty or negligent in fulfilling his duty for the Company’s interests and businesses.
7. Being entitled and authorized to act for and on behalf of the Board of Directors and representing the Company when the Director is absent for any reasons, which does not need to be proven by the third-party.
Harjanto Tjitohardjojo, as Sales and Marketing Director1. Leading, directing and coordinating all business units
in developing and marketing the financing products as well as alliances with Bank Mandiri Group and Tunas Ridean so as to be more competitive, effective and profitable.
2. Directing and supervising divisions and branch manager under his jurisdiction.
3. Coordinating the implementation of brand awareness and marketing strategies.
4. Leading and directing the policies and strategies related to the long-term, medium-term, and short-term business and marketing activities.
5. Assisting the President Director in directing the necessary changes to meet the challenges of business competition by encouraging business units to produce more dynamic and competitive products.
6. Being fully responsible for the performance of his duties for the interest of the Company to achieve the purposes and objectives.
7. Being personally responsible when is guilty or negligent in fulfilling his duty for the Company’s interests and businesses.
8. Being entitled and authorized to act for and on behalf of the Board of Directors and representing the Company when the Director is absent for any reasons, which does not need to be proven by the third-party.
To carry out their duties, the Board of Directors needs to:1. Fulfill the clear, complete and balanced Selected
Performance Assessment, both in terms of financial and non-financial aspects, in order to determine the achievement of the Company’s vision and mission, in accordance with the prevailing regulations.
2. Realize the implementation of RJPP and RKAP, including the achievement of financial and non-targets.
3. Implement risk management.4. Develop and utilize information technology.5. Follow-up the findings of Audit Committee,
Internal Audit and External Auditors, and report them to the Board of Commissioners.
6. Report relevant information to the Board of Commissioners, including the succession/transfer/promotion plan for key managers (senior), Human Resources development program, responsibility of risk management, and performance of information technology system.
7. Convene the General Meeting of Shareholders and make its minutes.
8. Take into account the stakeholders’ interests in line with the ethical values and prevailing rules and regulations.
Obligations of the Board of Directors are as follows:1. Preparing the RJPP, which is a strategic plan that
covers the Company’s targets and objectives to be achieved within 5 (five) years, signing it with the Board of Commissioners and submitting it to the GMS to be approved.
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Board of Directors meetingDuring 2016, the Board of Directors has called a meeting, either internal meetings. The decision taken in the meeting of the Board of Directors Mandiri Tunas Finance has been recorded and documented in the minutes of meetings of the Board of Directors. Minutes of the meeting signed by the chairman of the meeting and distributed to all members of the Board of Directors who attended the meeting or not. Disenting opinion that occurs in the meeting has been included in the minutes of meeting with the reasons of the disagreement.
Board of Directors meeting | Periode Januari - Desember 2016
NameNumber of Meetings Presence Absence Frequency of
Attendance Information
Ignatius Susatyo Wijoyo 12 12 - 100% President Director
Ade Cahyo Nugroho* 10 8 - 80% Director
Harjanto Tjitohardjojo 12 12 - 100% Director
Arya Suprihadi* 3 3 - 100% Director
RELATIONS BOARD OF COMMISSIONERS AND DIRECTORS
Duties and responsibilities of the Board of Commissioners and Board of Directors as the two organs of the company that runs the daily operations are different. The main task of the Board of Directors are as supervisory and advisory, while the main task of the Board of Directors is running the operational management of Mandiri Tunas Finance.
Board of Commissioners and Board of Directors of mutual respect and understand the duties, responsibilities and authorities of each corresponding laws and statutes. Board of Commissioners and Board of Directors have to coordinate and work together to achieve the goals and the company’s sustainability in the long term and be an example for subordinates.
Informal relationship can be done by each member of the Board of Commissioners and Directors, but do not have the force of law before it was decided through a legitimate mechanism in accordance with legislation and the Articles of Association. In some matters concerning certain strategic assets, loans, equity, organizational structure and determination of directors and commissioners of the Subsidiaries, the Board of Directors require the approval of the Board of Commissioners formally.
2. Preparing the RKAP and submitting it to the Board of Commissioners to be reviewed, and to the GMS to be approved.
3. Composing and implementing the accounting system that is adjusted to the financial accounting standards, including the bookkeeping and administrations that are based on the reliable internal control system.
4. Providing accountability and information on the Company’s condition and management in the form of other reports if required by the GMS.
5. Determining all duties, responsibilities and authority of the management in all level clearly.
6. Composing and submitting the Annual Report that has been signed together with the Board of Commissioners to the GMS to obtain approval.
7. Stating their share ownership and/or their family’s in other companies in the Annual Report.
Board of Director’s Training/Seminar Activities 2016In 2016, members of the Board of Directors have participated in training and seminars as follows:
Activity DescriptionInternational Seminar“Welcoming The New Era ofMultifnance Industry”
March 18, 2016, Ballroom mariott Courtyard Hotel, Nusa Dua-Bali, Indonesia Financing Company Association (APPI)
Attended “TaxTraining Service RegardingTax Amnesty” seminar
August 29, 2016, JakartaPT Multi Utama Consultindo
Executive Program of Risk Management Certification
October 20, 2016, JakartaRisk Management Certification Organization
Opportunity Challenge Seminar 2017
December 6, 2016, JakartaIndonesia Financing Company Association (APPI)
Attended National Seminar on Supporting Initiative for More Dynamic Business Development
May 27, 2016, YogyakartaIndonesia Financing Company Association (APPI)
Expand Leadership Program for BOD
October 12, 2016, BaliCorporate Leadership Development Institute
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The whole ordinances, guidelines and the relationship between the Board of have been established in the Manual. These guidelines are binding on every member of the Board of Commissioners and the Board of Directors and include among other responsibilities, obligations, powers, rights, ethics Board of Commissioners and Board of Directors, as well as meeting arrangements and procedures for the working relationship between the Board of Commissioners and Board of Directors.
To unify the views and decide on important issues concerning the business continuity and operational Mandiri Tunas Finance, the Board of Commissioners and Board of Directors regularly scheduled meeting of the Joint Meeting forum
BOC-Directors. Organizers regular meetings are the Board of Commissioners to discuss various agenda regarding work plans, operations, business opportunities, as well as strategic issues which require the approval of the Board of Commissioners. This meeting is a form of coordination in order to discuss periodic reports of Directors and provide feedback, notes and advice outlined in the minutes of the meeting.
Meeting decisions are made based on the principle of deliberation or taken by a majority vote as well as ties to be carried out follow-up. In the voting process, if there are members of the Board of Commissioners with conflict of interest, not allowed to give a voice and a description of this is recorded in the minutes of the meeting.
BoC & BoD Meeting | Period January-December 2016
Name Department Number of Meetings Presence Frequency of Attendance
Anton Setiawan Main Commissioner 12 12 100 %
Sarastri Baskoro Commissioner 12 12 100 %
Hanifah Purnama Independent Commissioner 12 12 100 %
Ignatius Susatyo Wijoyo President Director 12 12 100 %
Arya Suprihadi* Director 12 8 66 %
Harjanto Tjitohardjojo Director 12 10 84 %
*Appointed based on shareholder decision as of September 30, 2016
REMUNERATION OF THE BOARD OF COMMISSIONERS AND DIRECTORS
The remuneration of Directors and Board of Commissioners referred to the decision of the Shareholders as stipulated in the General Meeting of Shareholders to pay attention to the results of a study conducted by the Company. Studies in the determination of remuneration to consider aspects such as:1. The financial performance and the achievement
of Key Performance Indicator (KPI) of the Company.
2. Achievement of individual work.3. Fairness compared to other peer companies.4. Consideration of long-term goals and strategies
of the Company.The results of the study as a proposal to be submitted to the Board of Commissioners of Shareholders.
Pursuant to Article 96 paragraph (1) of Law Company Limited No. 40 of 2007 governing the salaries and benefits of Directors determined by the AGM decision. The authorization pursuant to Article 96 paragraph (2) may be delegated to the Board of Commissioners.
Indicators to Determine RemunerationThe determination of the remuneration amount is based on the consideration of work scope, entire performance achievement, Company’s condition, Key Performance Indicator (KPI) achievement determined in the beginning of the year, as well as responsibilities of each Director. In its implementation, the Board of Commissioners determines the remuneration plan for the Board of Directors according to the balance scorecard method using the applicable parameters.
The Board of Director performance appraisal during 2016 used balance scorecard with using the following parameter:
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Company Secretary
As a listed company as Issuer Securities in the Indonesia Stock Exchange, and in order to assist the Board of Directors in establishing and maintaining function to communicate externally and internally, ie the regulator, Capital Markets, shareholders and stakeholders and in line with the terms of openness information the company has appointed company secretary in charge of publication activities regarding the activities of the company and maintain fairness, consistency and transparency on matters related to corporate governance and corporate actions.
Corporate Secretary of Mandiri Tunas Finance has a mission to support the creation of a good corporate image consistently and continuously through the management program effective communication to all stakeholders
Requirements as Corporate Secretary:1. Proficient take legal actions;2. Have knowledge and understanding in the fields of
law, finance and corporate governance;3. Understand the business activities of the Company;4. Have the ability to communicate well; and5. Based in Indonesia.
Company Secretary is responsible directly to the President Director and make periodic reports of at least 1 (one) time a year.
Appointment of Company Secretary Legal BasisIn line with the terms of the disclosure, the company has appointed Corporate Secretary of PT Mandiri Tunas Finance is done by:
1. Regulation of the Financial Services Authority (POJK) No. 35/POJK.04/2014 dated December 8, 2014 on Corporate Secretary of Public Company.
2. Appointment Letter No. 1652/SK-HCP.SVC/HC/X/2016 dated 12 September 2016 which appoint Nenny Lasmanawati as Corporate Secretary of PT Mandiri Tunas Finance
Company Secretary shall be appointed and dismissed by the Board of Directors.
Duties and responsibilities of the Corporate SecretaryThe duties of the Corporate Secretary are as follows:1. Following the development of the capital market,
especially the regulations in force in the field of capital markets and spreading to the Board of Commissioners, Board of Directors and the Company’s stakeholders.
2. To provide input to the Board of Directors and Board of Commissioners of the Company to comply with the provisions of the legislation in the field of capital markets.
3. Assist the Board of Directors and the Board of Commissioners in the implementation of corporate governance include:a. Disclosure of information to the public;b. Submission of reports to regulators on a timely
basis;c. Implementation and documentation of the
GMS including the preparation process
1. Performance achievement is in accordance with the RKAP including the achievement of financial targets, such as financing volume, profitability, joint financing, cost efficiency ratio, cost of credit and receivables of non-performing financing receivables.
2. Enhancement and development of financing business process, including loan process, operational process, marketing process, and collection process.
3. Expansion of business network and development of alliances cooperation.
4. Being strategic with the group as well as the development of cooperation with dealer and showroom.
5. Development of Human Resource and improvement of corporate branding.
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d. Implementation and documentation of Directors Meeting and / or Board of Commissioners; and
e. implementation of orientation programs to the company for the Board of Directors and / or Board of Commissioners
4. As a liaison between the Issuer or a Public Company with the shareholders of the Issuer, the Financial Services Authority, and other stakeholders.
5. Providing services to the public for any information about the Company.
6. Monitor and provide feedback on compliance with the rules and regulations applicable law relating to the Company’s business activities.
7. Prepare a list of particular relevance to the Board of Directors, Board of Commissioners and their families, both in the Company and Affiliated Companies which include stock ownership, business relationships and other data that can provide information about the risk of a conflict of interest with the Company.
8. Maintain and establish communication with the mass media.
Corporate Secretary Profile
Indonesian citizen, 51 years old, was born in Jakarta on August 19, 1964. Graduated from bachelor degree at the Faculty of Psychology, University of Indonesia in 1990. Concurrently served as a member of the Nomination and Remuneration Committee Secretary in December 2014 until today. She currently serves as Head of the Division of Human Capital Company since 2012. Previously he worked at PT Asuransi Bintang Tbk as Group Head of Human Resources (2009-2012). Besides having worked at PT Bank Danamon Tbk as the Assessment Center Manager (2007-2009), PT Daya
Nenny Lasmanawati Corporate Secretary
Dimensi Indonesia as Assessment Center Manager (2000-2007), and in PT Bank Bali as the Assessment Staff. Starting his career as Operations Manager at PT Trinindo Cakrabuana (1990-1995).
Training in 2016To increase the competency, in 2016, the Corporate Secretary has attended the following training:
Date Training Category OrganizerMarch 7, 2016 Basic Certification-
Managerial FinancingPT. Sertifikasi Profesi Pembiayaan Indonesia (SPPI)
September 27, 2016
Super Team Transformation: 9 Practice Key of Team Transformation in your Business to be Super Team which Solid and Motivated
Gratyo Worlds Leading
Here are the MTF’s corporate secretary information:Name : Nenny LasmanawatiAddress : Graha Mandiri Lt. 3A, Jl. Imam Bonjol 61, Jakarta 10310Telephone : (62-21) 2305608Fax : (62-21) 2305618E-mail : [email protected] & [email protected]
The corporate secretary position in Organizational Structure in MTF is a division that responsible to the President Director, which are composed of three departments of the Department of Corporate Communications & Customer Care Services, Department of Corporate Legal, and the Department of Regulatory & Compliance.
While the Company Secretary position in the organizational structure is as follows:
Task Implementation of Corporate Secretary 2016Throughout 2016, the Corporate Secretary made periodically report at least once in one year on it function.
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The Corporate Secretary performed the following functions and duties in line with Indonesia Indonesia Financial Services Authority Regulation No. 35/POJK.04/2014 dated December 8, 2014, on Corporate Secretary of Issuer or Public Company, among others:1. Coordinating the implementation of the General
Meeting of Shareholders and the Corporate Action related to Public Offering Sustainable Bond I Phase II and Public Offering Sustainable Bond II Phase I 2015.
2. Attending Board of Director’s Meetings and preparing their minutes of meeting.
3. Following up the development of regulation, particularly regulatory rules in the capital market by attending various seminars, workshops, and conferences which were held by OJK, PT Bursa Efek Indonesia, PT Kustodian Sentral Efek Indonesia, the Indonesian Issuers Association and other institutions.
4. Preparing the Annual Report and the publication of financial statements and the results of the debt securities in newspaper.
5. Delivering periodical financial statements to regulators.
6. Giving feedback to the Board of Directors to comply with regulatory requirements, such as the Capital Market Law, Limited Liability Company Law and the implementing regulation..
7. As a liaison or contact person between the Company and other third parties, such as shareholders, mass media, Bapepam-LK, PT Bursa Efek Indonesia, PT Kustodian Sentral Efek Indonesia and other Capital Markets.
8. Coordinate the implementation of the activities held by the Company.
9. Ensure that the reports required to be reported by the Company to the government agency authorized agencies carried out properly and on time.
10. Assist the Board of Directors and the Board of Commissioners in the implementation of Corporate Governance which includes the disclosure of information to the public through print media, online media or through the Company’s website and social media.
Publication Company InformationTo comply with the legislation, the Company has published a variety of information related to the Company during 2016, including continuously publish material information to the public in accordance with Bapepam-LK No. X.K.1 (the Decision of Chairman of Bapepam-LK No. Kep-86/PM/1996 dated January 24, 1996) and the Jakarta Stock Exchange No. I-E.IV (Decree of the Board of Directors of the Jakarta Stock Exchange No. Kep-306/BEJ/07-2004 dated July 19, 2004). Disclosure of material information by the Company through press releases or reports.
DEWAN KOMISARIS
DIREKTUR UTAMA KOMITE AUDIT
KEPALA DIVISICORPORATE SECRETARY
KEPALA DEPARTEMEN CORPORATE LEGAL
KEPALA DEPARTEMEN CORPORATE COMMUNICATION & CUSTOMER CARE SERVICES
KEPALA DEPARTEMEN REGULATORY & COMPLIANCE
: Koordinasi : Supervisi/Pembinaan
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In order to improve the dissemination of information material, all the information to the press and the statements made in two languages, Indonesian and English.
During 2016, the Company has conducted numerous publications in the newspaper as follows:
Date Announcement Media Name
Thursday, February 11 Annual Financial Statements As of December 31, 2015
Investor Daily dan Bisnis Indonesia
Friday, February 26 Summary Minutes of the Annual General Meeting of Shareholder 2016
Kontan
Friday, July 29, 2016 Semi Annual Financial Statements As of June 30, 2016
Investor Daily
Wednesday, May 25, 2016 Additional Information of Continuous Bond II Mandiri Tunas Finance Phase II 2016
Investor Daily
Monday, October 3, 2016 Summary Prospectus for Public Offering Sustainable Bond III Mandiri Tunas Finance Phase I 2016
Investor Daily
Monthly Financial Reports of Financing CompanyIn accordance with the Financial Services Authority Regulation No. 3/POJK.05/2013 concerning Monthly Report of Non-Bank Financial Services Institution, finance companies shall submit monthly reports to the FSA later than the 10th of each month. In the event that on the 10th falls on a holiday, then the Monthly Financial Reports delivered on the next working day. Through the Financial Services Authority Circular No. 3/SEOJK.05/2013 concerning Monthly Financing Company, the FSA stated that the submission of monthly reports Financing Company began the period of June 2016, submitted in July 2016, made online through Information System Monthly Reports Financing Company (SIPP).
Related with the adjustment process needs Financing Company in preparing the monthly reporting through a SIPP, the FSA by mail FSA number: S38/D.05/2016 dated June 29, 2016 Notice regarding the submission of monthly reports said that the Financing Company period June to August 2016 carried out in parallel through LBPP and SIPP.
During 2016, the Company has reported to the FSA Monthly Financial Report in a timely manner and in accordance with applicable regulations, as follows:
Monthly Financial Report Delivery Date to FSA
as of January February 9, 2016 (via LBPP)
as of February March 8, 2016 (via LBPP)
as of March April 8, 2016 (via LBPP)
as of April May 9, 2016 (via LBPP)
as of May June 10, 2016 (via LBPP)
as of June July 15, 2016 (via LBPP) & July 29, 2016 (via SIPP)
as of July August 9, 2016 (via LBPP) and August 24, 2016 (via SIPP)
as of August 9 September 2016 (via LBPP) & 30 September 2016 (via SIPP)
as of September October 10, 2016 (via SIPP)
as of October 10 November 2016 (via SIPP)
as of November December 9, 2016 (via SIPP)
as of December January 10, 2017 (via SIPP)
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Data Submission Liabilities Foreign Currency DebtBy virtue of the Financial Services Authority (FSA) No. S-30/PM.2/2013 dated February 7, 2013 and No. S-124/PM.23/2013 dated February 27, 2013 regarding the Request Data Debt/Liability In Foreign Exchange, the Issuer or a Public Company was asked to deliver:1. Report on the amount of debt/liabilities in foreign
currencies;2. Projected debt service / liabilities in foreign
currency per month; and3. Information maturing debts / liabilities in foreign
currencies.
In the event that the issuer does not hold or have debts / liabilities in foreign currencies, issuers are required
to keep reporting to the FSA using a predetermined form.
These reports must be submitted to the FSA on the 10th of each month at the latest, using the form attached in the FSA letter No. S-30/PM.2/2013 dated February 7, 2013.
The Company during the financial year 2016 have no debts or liabilities in foreign currencies, however, the Company continued to meet its obligations to provide data of the loan in foreign currency with zero condition to the FSA in a timely manner in accordance with a predetermined form. As for the reporting of the data of the loan in foreign currency to the FSA for 2016 are as follows:
Foreign Currency Debt Data 2016 Total Delivery Date to FSA
as of January None February 3, 2016
as of February None March 1, 2015
as of March None 1 April 2016
as of April None May 2, 2016
as of May None June 2, 2016
as of June None July 1, 2016
as of July None August 2, 2016
as of August None 2 September 2016
as of September None October 3, 2016
as of October None 2 November 2016
as of November None December 1, 2016
as of December None January 6, 2017
The activities in the framework of Fostering Relationships with the Mass MediaMandiri Tunas Finance aware of the importance of the role of mass media is very important in the
dissemination of corporate information.Therefore, the Company is continuously working to improve communication and maintaining relationships with the media through various activities. A number of activities with the media conducted by the media in 2016 are:
Activities with Mass Media
No. Date Activity Location TopicMedia Coverage
Print Media Online Media TV/Radio
1 19 Februari 2016 Press Conference
Lampung Pameran Otomotif MTF Autofiesta
Tribun Lampung; Radar Lampung;Lampung Pos
sindonews.com; beritasatu.com; lampung.tribunnews.com
Kencana fmSonora fmLampung Tv
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2 27 Februari 2016 Media Trip Purwakarta Paparan kinerja 2015: Pembiayaan MTF Mencapai Rp17,140 Triliun
Kompas; Jakarta Post; Investor Daily; Koran Sindo; Kontan; Republika; Media Indonesia; Indopos; Suara Karya; Suara Pembaruan; Neraca; Bisnis Indonesia.
Tempo.co; detik.com; infobanknews.com; republika.co.id; beritasatu.com; bisnis.com; antarafoto.com; ift.co.id; okezone.com; swa.co.id; liputan6.com; mediaindonesia.com; inlah.com; wartaekonomi.co.id; koran-jakarta.com; suarakarya.id; stabilitas.co.id; indonesiasatu.co; mobilinanews.com; otorai.com; mediaasuransinews.com; koran-sindo.com; thejakartapost.com; autobild.co.id.
-
3 19 Februari 2016 Media Visit Lampung Kunjungan Manajemen MTF ke Harian Tribun Lampung dan Radar Lampung
Radar Lampung; Tribun Lampung
Tribunnews.com
4 14 April 2016 Press Conference
Medan Pameran Otomotif MTF Autofiesta
Tribun medan; harian portibi;
Kontan.co.id; Tribun Medan; Waspada Online; Kabarmedan.com; sumutpos.co
Sonora Fm
5 19 April 2016 Media Visit Medan Kunjungan Manajemen MTF ke Harian Tribun Medan
Tribun Medan tribunnews.com
6 6 Mei 2016 Press Conference
Yogyakarta Sambut Hari Pendidikan, MTF Donasikan 3000 Tas
Koran Sindo; Radar Jogja; Koran Tempo; Tribun Jogja; Suara Merdeka; Republika; Harian Jogja; Bernas Jogja;Merapi Minggu Pagi; Kedaulatan Rakyat; Suara Pembaharuan; Solopos
Sindonews.com; tribunjogja.com; beritasatu.co.id; harianjogja.com
7 18 Mei 2016 Media briefing
Makassar Partisipasi MTF dalam Gaikindo Indonesia International Automotive Show (GIIAS) Makassar, dengan Program Promosi BBM Gratis 1 Tahun
rakyatku.com; fajar.co.id; gatra.com;
8 25 Mei 2016 Press Conference
Jakarta MTF dan Alfa Group Jalin Kerja Sama Pembayaran Angsuran Customer
Stabilitas; Autobild; Kontan; Infobank; Bisnis Indonesia; Investor daily.
beritasatu.com; Stabilitas.co.id; Kontan.co.id; Infobanknews.com; Bisnis.com
9 29 Mei 2016 Press Conference
Palembang Pameran Otomotif MTF Autofiesta
Sriwijaya Post Sriwijaya Post; Sindonews.com
10 3 Agustus 2016 Media Gathering
Jakarta Paparan Kinerja Kuartal II 2016
Bisnis Indonesia; Seputar Indonesia; The Jakarta Post; Kontan; Koran Jakarta; Indopos; Harian Ekonomi Neraca; Republika; Suara Pembaruan; Rakyat Merdeka; Investor Daily;Media Indonesia
LKBN Antara; Metrotvnews.com;Inilah.comViva.co.id; Infobank;Topsaham.com; Gatra; Wartaekonomi.com; Tribunnews.com; Cnnindonesia.com; SWA;Kompas.com; Detik.com; Liputan6.com; Indonesianindustry.com
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DATA ACCESS AND COMPANY INFORMATION
To ensure compliance, and availability of information for stakeholders, Mandiri Tunas Finance provides various facilities and media through:1. Website : www.mtf.co.id2. Email : [email protected]. Care center : 15000594. Mobile Application : MTF Mobile Application5. Media Sosial :
- Instagram : MTFAutoLoan- Facebook : MTFAutoLoan- Youtube : MTFAutoLoan- Google Plus : MTFAutoLoan- Twitter : @MTF_AutoLoan
INTERNAL CONTROL SYSTEM
The Company has internal control system in order to:1. Maintaining and securing the assets of the
Company,2. Ensure the availability of more accurate reports,3. Improving compliance with applicable regulations,4. Reducing the impact of losses of irregularities
including fraud / fraud, and violation of the precautionary principle, and
5. Improving the organizational effectiveness and efficiency of resources.
As the process is being run by all levels of the Company, the Internal Control System applied ranging from setting goals and strategies throughout the organization, the identification of potential for an occurrence that could affect goals and strategies intended, and risk management in order to remain within the limits of tolerance (risk appetite) , to
provide adequate confidence in the achievement of corporate objectives.
Framework of the internal control system as the reference framework of the Company is the best (best practices) that has been practiced by companies in the world, the COSO Internal Control Framework, which include these components: 1. The internal control environment in the Company,
which consists of integrity, values, ethics and competence of Commissioners, Directors and all employees of the Company, including management and leadership styles in a way in which exercise powers and responsibilities, organization and development of human resources and attention and referrals made by the Commissioner and the Board of Directors.
2. Risk management, which includes the identification, analysis, assessment and mitigation of or response to the risks that are relevant to the Company’s line of business.
3. Control Activities, includes actions undertaken so that the whole process in a controlled company in accordance targets, among other activities related to the organizational structure include the authority, authorization, verification, reconciliation, assessment of job performance, job distribution and asset security company.
4. Information systems and communications, including activities related to the presentation of the activity report of the Company and its delivery
11 11 Agustus 2016 Press Conference
Tangerang Partisipasi MTF dalam Acara Gaikindo Indonesia International Auto Show (GIIAS) 2016
Investor Daily; Neraca; AutobildInfobank; Stabilitas; Media Asuransi; Bisnis Indonesia; Kontan
Halloapakabar.com; Okezone; viva; Inilah; Tribun; Tempo
CNN Indonesia
12 5 Oktober 2016 Press Conference
Makassar Partipasi MTF dalam Pekan Otomotif Makassar (POMA)
Koran Sindo; Swa; Tribun Timur; Fajar; JPNN.com; koran-sindo.com; tribunnews.com
13 5 Desember 2016
Media briefing
Surabaya Partisipasi MTF dalam Pameran Otomotif Surabaya (POS)
Koran Sindo; Bisnis.com;
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to the parties involved, which include information and communication activities of the operational, financial activities, and the observance of rules
5. Monitoring, include activity or process of assessment of the quality of the internal control system including the quality of the Internal Audit function and quality of work units in the organizational structure of the Company, so that the internal control system can be implemented optimally and irregularities that occurred immediately reported to the Board of Directors and Commissioners through the Committee audit.
Financial and Operational ControlRegulations and Company policy requires that their efforts to maintain records and presenting financial statements in accordance principles generally accepted accounting principles, which require the disclosure of all material transactions that affect changes in the value of assets, liabilities and capital. This is done to avoid financial fraud. In addition, the Company continues to maintain a system of internal controls that ensure the reliability and adequacy of each transaction.
Presentation of financial statements (balance sheet, income statement, cash flow statement, statement of changes in equity) in each fiscal year is made to meet the interests of all parties related to the Company. The Company is committed to disclose the report to all interested parties in a fair and transparent based on the accounting standards applicable in Indonesia.
To meet all of the above principles, the Company has a policy that ensures that transactions are recorded with immediate, accurate and equipped with adequate supporting documentation. Transactions are recorded in the accounting system at least has been approved by Management which has the authority for this purpose and recorded correctly. Each company’s financial statements fairly and accurately depict the actual transaction without the slightest effort to hide the truth to the readers. All parties, both the Board of Directors, Commissioners and employees responsible for these functions, required to understand and implement policies and
procedures of internal control system of financial accounting records of the company.
Company continues to maintain internal control system that ensures the reliability of the financial accounting system. Internal control systems put in place to guard against misuse of assets and transfer of illegal possession, keeping the validity of accounting records and the reliability of financial information used within the company and published.
The Company’s management continues to assess the effectiveness of internal control over financial reporting of the Company. In addition, an evaluation of the effectiveness of internal control over financial reporting is also done by the public accounting firm at the time of the annual financial reporting process.
INTERNAL AUDIT UNIT
Mandiri Tunas Finance has had the Internal Audit function which is run by the Internal Audit Unit. The Internal Audit Unit is led by a Head of Internal Audit Unit is appointed and dismissed by the Managing Director with the approval of the Board of Commissioners.
Organizational Structure and total Internal Control Unit
Organizational structureOrganizational Structure Office PT Mandiri Tunas Finance (Persero), including the organizational structure, functions, duties and powers SPI as follows:
Internal auditIn order to manage the Company effectively and efficiently as well as the basic operations of a healthy and safe, the Company has the Internal Control System (SPI). The Board of Directors is responsible for the effectiveness of the internal control systems of all operational activities to achieve the objectives of the Company. To assist the Board of Directors in ensuring the implementation of the internal control system in the Company, the Internal Audit function evaluates periodically to all functions and work units in the Company. Internal Audit function carried out by the Internal Audit Division, an independent unit reporting directly to the Managing Director. In performing its duties, the Internal Audit Division functionally also
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report their activities to the Board through the Audit Committee.
Generally, the functions of the Internal Audit Division are divided into two, namely the assurance and consulting function.
1. Assurance FunctionThe implementation of assurance function by Internal Audit Division is to ensure that the internal control of risk management and governance has been implemented by all work units in accordance with the written policies and procedures of the Company as well as external regulations. The results of the assessment are reported by Internal Audit Division periodically to Board of Directors and Board of Commissioners through Audit Committee.
In carrying out its assurance functions, Internal Audit Division uses Risk-Based Audit methods. In the methods, the determination of work units that will be audited is done based on risk assessments conducted periodically. During 2016, the Internal Audit Division has conducted 50 (fifty) general audit assignments, consisting of 49 (fourty nine) assignment at branch office and 1 (one) assignment at head office.
Each audit assignment reported to the Management of the Company and the auditee is equipped with a corrective action plan, including sanctions, if necessary. The progress of corrective actions must be reported by the auditee to the Internal Audit Division periodically to ensure that each party being audited is always working to make improvements or repairs.
In addition to the general audit assignment performed periodically, Internal Audit Division also conducts special audits for certain cases. During 2016, the Internal Audit Division has implemented 9 special audits consisting of 7 assignments at the Branches, and 2 review assignment with certain theme.
2. Consulting FunctionThe implementation of consulting functions by the Internal Audit Division aims to improve the effectiveness and efficiency of the Company’s processes in the context of its role as a strategic partner through a review of risk and control over a process or activity that will be developed or will be evaluated by the Company and provide advice and input for process improvement. In carrying out the functions of consulting, Internal Audit Division analyzes conducts self-analysis or cooperates with another unit or division.
In 2017, the focus of the audit was directed to evaluate the effectiveness of internal control regarding key business risks faced by the Company as one of the mitigation measures that should be carried out. In the process of prioritization of key risks mitigation to be evaluated, Internal Audit Division has received inputs from related working units and the direction of the Board of Directors.
The inputs and directions include the main risks in business processes and supporting processes, particularly in the branch office network to support the creation of higher quality provision of financing and a decrease in AR Loss according to the targets set by the Company.
Audit method used in 2017 included:1. General Audit
General audit assignment with the scope of audit covers key risks that exist in the Branch Top Risks with reference to the inputs from Board of Directors of the Company at the time of Annual Audit Plan preparation. The target is 64% of Branch Office Networks or 60 branches and 3 divisions at Head Office.a. IT Audit
General audit assignment with the scope of audit covers the main risks on the use of Information Technology System in the
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Company that is the main risk in network management, software and hardware.
2. Special Audita. Special assignment on various risks in the
process of withdrawing units from non-performing debtors in pool.
b. Special assignment to follow up on the latest information on the whistleblowing system and Early Detection System (EDS).
c. Special assignment to do a review of some projects implemented on 2016.
3. On Desk MonitoringInternal Audit Division conducts on-desk monitoring on the branch operational data continuously. An indication of the weakness on the on-desk results will be delivered to the client (Branch) every month as a form of early warning signal from strategic partner, and its follow-up action will be monitored.The on-desk result is also communicated to the related working unit in the Head Office so that the improvement can bediscussed.
Organizational Structure & Position of Internal Audit DivisionTo fulfill the Regulation of Bapepam – LK No. IX.I.7 regarding the Establishment and Guidelines for Internal Audit Charter, which is also stipulated in the Decree of Chairman of BAPEPAM – LK No. KEP-496/BL/2008 dated November 28, 2008, the Company composed an Internal Audit Charter that had been validated by the Board of Directors and had gained approval from the Board of Commissioners. The last revision to the Internal Audit Charter was made on December 1, 2015.
The following points are stipulated in the Company’s Internal Audit Guidelines:1. The Internal Audit division is led by the Division
Head who is appointed and dismissed by the President Director with the approval of Board of Commissioners.
2. The Head of Internal Audit Division is responsible directly to the President Director and coordinates with the Audit Committee.
3. Appointment, replacement, or dismissal of the
Head of Internal Audit Division will be reported immediately to the authorities supervising the Company’s business activities.
4. All Internal Auditors in the Internal Audit Division are responsible to the Head of Internal Audit Division.
Duties and Responsibilities of Internal Audit1. Planning and implementing the Annual Audit
Plan2. Planning and implementing Internal Audit
Activities with emphasis on field/activity having high risk and evaluating the existing procedure/control system to obtain assurance that the Company’s objective and target can be achieved optimally and continuously.
3. Composing programs to evaluate the implemented internal audit activities.
4. Preparing audit results report and submitting the report to President Director and other members of Board of Directors, as well as to the Board of Commissioners through the Audit Committee.
5. Monitoring, analyzing and reporting the follow-ups on the Internal Audit Activities and Investigation Activities.
6. Cooperating with the Audit Committee7. Carrying out special audit, if necessary8. Having no responsibility to carry out operational
activities.
The Authority of the Company’s Internal Audit:1. Conducting the audit assignment to the
activities of all working units and branches in the Company’s organization.
2. Gaining access to all data and documents in the form of hardcopy and softcopy as well as the audit object information in the employee records, resources and other things that are considered necessary to support the audit activities.
3. Investigating any indications of cases/problems in every aspect and element of activities in the form of fraud, forgery, embezzlement, thievery, or other matters which could lead to material and immaterial losses for the Company. This investigation is limited to the disclosure and reporting to the management.
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4. Conducting regular communication with members of the Board of Directors, the Board of Commissioners, and the Audit Committee.
5. In case that there is incident/event that may cause a significant and material impact to the Company, the Head of Internal Audit is
authorized to hold incidental meetings with the Board of Directors, Board of Commissioners and Audit Committee.
6. Coordinating its activities with the external auditors.
7. Having no responsibility to carry out operational activities.
Code of Conduct is the foundation of professionalism of internal auditors in the audit implementation. Professionalism of an internal auditor is reflected on the attitude of being trustworthy, having integrity, being able to maintain confidentiality and be independent. Internal Auditors’ Code of Conduct refers to the principles that are relevant to the profession and audit activities in line with the standards of conduct of The Institute of Internal Auditors (IIA).
Code of conduct regulates the basic principles of Internal Auditors, which in its practice requires careful consideration of each Internal Auditor. Violation to Code of Conduct is a violation of the Company’s discipline which may result a warning for Internal Auditor, dismissal from duty in the Internal Audit and or being disciplined in line with the level of offense committed.
The Internal Auditors must uphold and comply with the Code of Conduct - Standards of Conduct, as
follows:
1. IntegrityHaving personality that is based on the principles of honesty, bravery, wisdom, and responsibility to build trusts in order to strengthen the decision-making process.
2. ObjectivityUpholding the principle of impartiality and professionalism in collecting, evaluating and processing audit data/information.
3. SecrecyRespecting the value and ownership of information received and not revealing the information without adequate authorization unless there are rules and laws that require the information to be disclosed.
4. CompetencyHaving the knowledge, expertise, experiences and skills that are required to carry out the duties and responsibilities.
Board of Commissioner
Board of Director Audit Committee
Head of Audit Internal Division
DISTRIBUTION & SUPPORT AUDIT DEPARTEMENT
AUDIT DEVELOPMENT & ASSURANCE DEPARTEMENT
DISTRIBUTION & BUSINESS AUDIT DEPARTEMENT
: Coordination Supervision
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Internal Audit Division Profile
Indonesian citizen, 43 years old, was born in Jakarta, on July 10, 1973. Bachelor Degree graduated from Accounting Department of Economics at the University of Padjadjaran in 1995.
Head of Internal Audit Division held by Dayu Rasmini since July 1, 2016. Prior to his appointment as Head of Internal Audit Division of the Company, the relevant duty at PT. Bank Mandiri (Persero) Tbk., Graduated Bachelor of Padjadjaran University in 1995 and has experience in Retail Banking Audit, Commercial Banking Audit, Audit Development, Personnel Performance & Budgeting, Corporate Banking and Audit.
Dayu Rasmini Head of Internal Audit
Number of Employees Internal Audit DivisionAs of December 31, 2016, employees of the Internal Audit Division amounted to 28 people, with the following composition:
NO position amount (person)
1. Head of Division 1 2. Head of Department 23. Supervisor 94. Staf 16
Total 28
The number of employees is the result of the identification and analysis of the management of the internal control system and the effectiveness of supervision performed by the Management Company. The details of the officials in the Internal Audit Division are as follows:1. Head of Division : Dayu Rasmini2. Head of Department : 1. Ricky Harris 2. Angga Surya Putra
Name Position Training/Workshop Category Period Organizer Cost
Dayu Rasmini Kepala Divisi Internal Audit
Managerial Basic Finance Certification 1 to 2 June, 2016 APPI -
Socialization of Root Cause Analysis Methodology Implementation in SKAI Subsidiary
August 16, 2016Directorate of Internal Audit - PT. Bank Mandiri (Persero), Tbk
-
Training of Root Cause Analysis Methodology and Audit Investigation
September 8, 2016
Directorate of Internal Audit - PT. Bank Mandiri (Persero), Tbk
-
Code Of Conduct And Integrity PactPThe Company has established Code of Conduct guidelines that are applicable to all employees and the management. The Code of Conduct is listed in the attachment of Company’s Rules for the period of 2014-2016 which have been distributed to all employees to be comprehended and implemented in the daily work activities.
Contents of Code of ConductThe principals of Company’s Code of Conduct are as follow:
External auditor
The function of independent oversight of the financial aspects of Mandiri Tunas Finance is done by carrying out checks External Audit conducted by the Public Accountant.
1. Is obliged to conduct main duties based on job description and other duties defined by the Company.
2. Give all efforts for the company, do not work for nor is bound to third parties, either business institution or personal in order to gain profit; unless having obtained written permission from the Company.
3. Put the interests of the Company as the priority in performing all activities, not personal/organization/group benefit (conflict of interest).
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4. Accept and comprehend that the benefits given by the Company are based on tasks and responsibilities. Therefore, there will be no need to ask or receive any other benefits from related parties of the Company.
5. Keep oneself to act professionally, so that there will be no harmful acts that may impact on loss for the Company and other related parties, including but not limited to clients, consumers, relations on matters that can break the Code of Conduct.
6. Keep oneself to always be trusted at work and will always maintain the confidentiality of:a. All information and data regarding the
Company which are classified as Company’s secret.
b. All information trusted by the consumers to the Company.
c. All transactions done by the consumers through the Company. d. All secret passwords given to the employees for work activities.
7. Uphold ethical behavior and avoid scandal among the employees.
8. Keep oneself to act professionally at work by avoiding direct familial relationship with other employees in the Company (father, mother, husband/wife, sibling, and child).
9. Always prioritize the Company’s tasks and do not use working time for personal business.
10. Avoid any action that influences or invites other employee to conduct activities that are against the laws and regulations in force.
11. Is willing to hand back to the Company all matters or things that do not belong to the employees despite the fact that such action takes place not because of their own misconduct.
12. Is present in the work place and ready to perform duties on time.
13. Wear employees ID card given by the Company at work environment.
14. Wear work clothes that have been stipulated in the Company’s regulations neatly and cleanly during work hours.
15. Keep manner and maintain familiar condition and positive atmosphere at work. Avoid physical force, intimidation, slander or defamation, which may disrupt the performance and operations.
16. Maintain clean and healthy work environment, and avoid drug abuse, including using, distributing, trading, and owning.
17. Maintain all office supplies and equipmet. If there are any broken tools, the employees need to report it directly to the supervisor, accompanied by Minutes to be submitted to the General Affairs Department.
The function of independent oversight of the financial aspects of Mandiri Tunas Finance is done by carrying out checks External Audit conducted by the Public Accountant.External Auditor Data of Mandiri Tunas Finance as follows:
Period Public Accountant Office Contract Partner Other Consultation
2016 Purwantono, Sungkoro&Surja 460.000.000 Yasir, CPA
2015 Purwantono, Sungkoro, & Surja (EY) 423.500.000 Danil Setiadi Handaja, CPA
2014 Purwantono, Suherman, & Surja (EY Danil Setiadi Handaja, CPA
2013 Purwantono, Suherman, & Surja (EY Peter Surja, CPA
2012 Purwantono, Suherman, & Surja (EY Peter Surja, CPA
2011 Tanudiredja, Wibisana & Rekan (PwC)
Lucy Luciana Suhendra, SE, Ak, CPA
Audit of Financial Statements for Fiscal Year 2016In the audit of Financial Statements Mandiri Tunas Finance, Mandiri Tunas Finance has appointed the Public Accounting Firm (KAP) Purwantono, Sungkoro
& Surja. Appointment of KAP has been decided in the GMS based on the recommendation of the Board of Commissioners. The audit scope of KAP Purwantono, Sungkoro & Surja also include audit Financial Report of Partnership and Community Development Mandiri
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of goods/services, including the technical requirements of administration of procurement, evaluation procedures, evaluation results, and determination of prospective suppliers of goods/ services, are transparent to the interested suppliers of goods/service providers and the public at large.
5. Being Fair/Not Discriminative, means that equal treatment is given to all prospective suppliers of goods/services without intention to give personal gain to a particular party with any reason or method whatsoever.
6. Being Accountable, means that there must be an achievement, both physical and financial targets, as well as benefits for the convenience of public administration and community services in line with the principles and applicable regulations of the procurement of goods/services.
Prosedur Pelaksanaan Pengadaan Barang Dan JasaIn procuring goods and services, the Company has applied the following procedures:
a. Procurement Executor:There are 3 (three) groups of procurement executors who can process the procurement of goods and services for the company, namely:- Procurement and General Affair Department,
- Procurement team that consists of Procurement and General Affair Department and other related work units, and
- The Procurement committee that consists of Procurement and General Affair Department and/or the related and Legal Divisions to procure goods and services which is basically conducted in a way of Public Auction/Limited Tender or General Selection/Limited Selection.
b. Procurement Documents:Each goods and services procurement activity must be documented so as to be used as an authentic evidence of the procurement of goods and services.
Tunas Finance for Fiscal Year 2016. Process Audit in 2016 also include the first quarter in order to audit its subsidiaries for the issuance of Senior Debt Bank Mandiri.
Basic Appointment of External AuditorThe appointment of the External Auditor is based on the Minutes of the GMS Mandiri Tunas Finance regarding the approval of the Annual Report and Approval of the Financial Statements for Fiscal Year 2016. Purwantono, Sungkoro & Surja appointed has completed its work independently according to professional standards of public accountants and agreements as well as the scope of audit has been established. Audit time period is January 2016 sampaidenganDesember 2016.
PROCUREMENT OF GOODS AND SERVICES
Procedures of Goods ProcurementEvery procurement of goods and services are carried out by the authorized parties who process the procurement starting from the plans, procurement, selection of goods and services providers, as well as the supervision on the procurement by considering the following aspects:1. Being Efficient, means that the procurement
of goods/services has to be accountable and procured by as fewer funds and resources as possible to achieve the targets set within the shortest time.
2. Being Effective, means that the procurement of goods/services must be in line with the requirements that have been established and can provide maximum benefits in accordance with the target set.
3. Being Open and Competitive, means that the procurement of goods/services should be open to the providers of goods/services that meet the requirements and is carried out through healthy competition among providers of Goods/Services in an equal manner and fulfills specific requirements/criteria based on the clear and transparent rules and procedures.
4. Being Transparent, means that all the provisions and information on procurement
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c. List of goods and services providers:The providers need to meet the determined qualification, thus the procurement of goods and services is in line with the specification set.
d. Offering Delivery System: The Offering Delivery procedures can be chosen from one of the three determined applicable systems in the procurement documents, namely:- One Cover system: this system is applicable
to all procurements of goods and services with technical specifications and methods of work and products that can be clearly and accurately made.
- Two-Cover System: this system is applicable to particular goods and services that have specific range (corridor) in every technical aspect, thus in-depth technical evaluation is required to guarantee the quality of goods and services before the price evaluation process is carried out.
- Gradual System: this system is only applied to the procurement of complex, high-tech goods and services with relatively large procurement value that requires adjustment of technical/performance/design criteria to balance the technical specifications among the providers of goods and services that are required in the procurement documents.
e. The offering evaluation system: divided into 2 parts:-- Offering Evaluation System for the
procurement of goods and services consisting of knockout system, value system, and costs for the economic life assessment system
- Offering Evaluation System for the procurement of consulting services that are divided into quality evaluation system, quality and cost evaluation system, and lowest cost evaluation system.
f. Form and Type of Work Contract:- The form of work contract consists of: proof
of goods purchasing, SPK, Work Contract.
- The type of work contract consists of: Lump sum contract, unit price and volume contract, lump sum and unit price contract, turnkey contract, unit price without definite order volume contract, gradual submission with maximum volume limit contract, cost plus fee contract, and percentage contract.
g. Guarantee in the procurement of goods and services In the procurement of goods and services, it must be realized that there will be risks that may arise, including the resignation of the providers of goods and services, default, risk of advances withdrawal, and other risks.
Types of Auctiona. Public Auction, Limited Auction
The implementation of this method is applied if the tender value is predicted to be more than Rp5 billion with the following terms and conditions:- Pre-qualification announcement- Pre-qualification document input- Pre-qualification document evaluation-Pre-qualification announcement determination- Procurement document invitation- Auction description- Offers input and opening- Offers evaluation- Preparation of the minutes of the auction result- Auction winners determination- Auction winner announcement- Auction participant’s rebuttal- Contract signing- Down payment
b. Direct ElectionThe Procurement of goods and services by using direct appointment is conducted through these following processes:- Invitation to goods and services providers- Procurement document description delivery- Offers delivery- Offers opening- Offers evaluation- Penetapan penyedia barang dan jasa terpilih- Penunjukkan penyedia barang dan jasa- Penandatanganan konrak
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LEGAL CASES
As of the end of 2016, the Company had 37 lawsuit. Case lawsuits faced by the company in general arise in connection with the actions of the company obtained a guarantee repayment of debts from consumers. Civil lawsuits faced by the Company decreased from the same period the previous year, i.e. from 53 to 37. Important criminal lawsuit faced by Mandiri Tunas Finance, Member of the Board of Directors and the Board of Commissioners for 2016 is nil. Civil lawsuits involving the Company during 2016 are as follows:
NO Case Registration Number Case Date Company Position Opposition Side Material CaseValue of The Case
The Decision on Previous Court Case Status NoteMaterial Immaterial
1 58/Pdt.G/2014/PN.Jkt.Ut. February 17, 2014 Plaintiff Tonny Default 1.970.855.464 1.000.000.000 MTF Lost in the North Jakarta District Court Still in the process of appeal in the High Court. MTF filed Appeal, Judgment PN Party considers less insurance.
2 04/Pdt.Plw/2014/PN.CN. February 16, 2014 Plaintiff Sosi K & Risnawati Lawsuit Resistance Above Sita State Security Court Cirebon 539.142.800 - MTF won in Cirebon District Court Still in the process of appeal in the High Court. Appeal filed unchallenged.
3 843/Pdt. G/2014/PN.Sby. November 6, 2014 Defendant Kristono Default - 1.025.000.000 MTF won he District Court, and the High Court of Surabaya Still in the process of appeal in the High Court. Still waiting for a verdict Incracht
4 156 K/Pdt.Sus-BPSK/2016 September 10, 2015 Applicant Objections SudaryantoFiling Cassation By Sudaryanto Upper District Court Tanjung Balai
125.580.000 - MTF Won in the Medan District Court Consumers filed its objection, still under appeal in the Supreme Court.Sudaryanto filed its objection on Tanjung Balai District Court on October 21, 2015.
5 264 K/Pdt.Sus-BPSK/2016 October 29, 2015 Cassation Applicant Siti Nurjanah Filing Cassation By MTF 64.470.000 - MTF Lose in Court Asking MTF Cassation, is still under appeal in the Supreme Court.MTF has filed a legal action with the statement Cassation Appeal on December 28, 2015. At this time In-Process Inspection Team KHS.
6 10/Pdt.G/2016/PN.Srg February 11, 2016 Defendant Iin Inayah (YPK Senopati) Lawsuit PMH & Related inclusion formal clause 520.800.000 - MTF Wins in Court The judges have issued a ruling on this matter Debtor / Plaintiffs submitted an appeal to the High Court
8 22/Pdt.G/2016/PN.Jkt.Sel February 25, 2016 Defendant Andri Bayu Permana (YPK Senopati) Inclusion of the clause PMH lawsuit Baku 200.784.000 - - Progress On Trial. Awaiting Decision panel of judges The trial is being run.
11 8/Pdt.g/2016/PN.Sky May 13, 2016 Defendant Supriono PMH Lawsuit 113.862.000 - - In the Process Session in PN Sekayu (Palembang) Mediation Session Agenda Progress On Trial.
17 70/Pdt.G/2016/PN.JMB June 13, 2016 Defendant Raden Nawawi PMH Lawsuit 175.326.600 - MTF Won in Court The trial has been completed already Decision. The hearing was adjourned and the mediation agenda will be re-work.
19 29/Pdt.G.P/2016/PN.BIL June 28, 2016 Applicant Objections Sugeng Hari PurnomoApplication Filing Objections to the Decision of BPSK Kab. Probolinggo
142.800.000 - MTF Lost In BPSK Probolinggo MTF was filed cassation to the Supreme Court On Progress of Cassation
21 52/Pdt.G/2016/PN.Tsm. August 18, 2016 Defendant Pirman Sastra PMH Lawsuit 105.000.000 210.000.000 MTF Wons in Court Debtor through his proxy filed appeal to the District Court. Progress on the High Court. Appeal hearing process.
22 303.Pdt.Sus.BPSK/2016/PN.Prp August 8, 2016 Applicant Objections Sari Antoni Remedies Objection Decision BPSK Batubara - -Decision BPSK Batu Bara District MTF point defeat and win the consumer or debtor Sari Antoni
Decision on Request Objection Decision BPSK Bara district to district court had read out.Already verdict was read MTF point win and declare Decision BPSK Kab. Batubara is canceled
24 1283/PG/JS-IV/BPSK-BB/IX/2016 September 28, 2016 Respondent Ruslansyah Sinaga Consumers BPSK petition in the BPSK Kab. Batubara 31.549.700 -Decision BPSK Batu Bara District MTF point defeat and win the consumer or debtor Ruslansyah Sinaga
Already there Completion by Tim ExternalLost in the trial MTF BPSK, but between the Borrower and the MTF has been no resolution of this case. External team MTF Medan Branch direct approach and completion.
25 125/Pdt.G/2016/PN Plg August 15, 2016 Defendant Mansjoer/Tongkang Mas PMH Lawsuit 1.420.600.000 700.000.000 - The lawsuit in the District Court revoked by the Plaintiff Applying for Revocation Lawsuit Plaintiffs Case.
26 13/Pdt.G/2016/PN. Sdn September 15, 2016 Defendant Ridwan Diharjo PMH Lawsuit 91.399.000 - - Disconnect in Mediation, Cars already auctioned Special. Peace occurs by the plaintiffs and MTF in the District Court.
27 25/Pdt.G/2016/PN.Sdr December 21, 2016 Defendant Hj. Ode Rosdiyana PMH Lawsuit 467.564.000 - No DecisionStill trial process. MTF used as the defendant, but up to now there is no call for Pare-Pare Branch MTF altogether.
Still trial process. MTF used as the defendant, but up to now there is no call for Pare-Pare Branch MTF altogether.
28 1709/PG/ARB-I/JS-IV/BPSK-BB/IX/2016 November 4, 2016 Complained Sihol Pardomuan Simamora Consumers BPSK petition in the BPSK Kab. Batubara 70.704.000 - - Case in BPSK already in the End by BPSK Coal.Case has been in the ruling by the Council of BPSK Batu Bara. The point is MTF was Lost on their complaint this BPSK. But until now there was no follow-up of the Consumer / Debtor on the Decision of BPSK Kab. Batu Bara.
29 2014/PG/ARB-I/JS-IV/BPSK-BB/XI/2016 November 11, 2016 Complained M. Nur Consumers BPSK petition in the BPSK Kab. Batubara - - - Case in BPSK already in the End by BPSK Coal.Case has been in the ruling by the Council of BPSK Batu Bara. The point is MTF was Lost on their complaint this BPSK. But until now there was no follow-up of the Consumer / Debtor on the Decision of BPSK Kab. Batu Bara.
30 035/Ver/BPSK-Krw/VIII/2016 November 23, 2016 Applicant Sawen PMH Lawsuit - - Decision BPSK MTF Lost and District Court In the process of the Supreme Court of Cassation Progress on the Supreme Court of Cassation
31 74/Pdt.G/2016/PN Pwt. November 14, 2016 Defendant Tommy Bayu Aji (Yapeknas) PMH Lawsuit - 30.000.000 In the Process Session in PN. Purwokerto Still in proceedings in the District Court of Purwokerto.Still In Session in Purwokerto District Court. The continuing trial date February 21, 2017
32 111/Pdt-Sus/PKPU/2016/PN.Niaga.Jkt.Pst November 16, 2016 Other creditorsPT. Citra Maharlika Nusantara Corpora, Tbk. (Dahulu PT. Cipaganti Citra Graha, Tbk.)
While the process PKPU 1.011.011.400 - Debtor stated PKPU Still in Process Management PKPUStill in the process of handling PKPU, the Borrower shall carry out debt restructuring after the Peace Proposal Debtor granted by the Assembly, the Board and the entire Creditor PT. CMNC (Cipaganti)
33 113/Pdt.Sus-PKPU/2016 December 15, 2016 Other creditors Wahyu Thomi Wijaya While the process PKPU 2.188.980.900 - Debtor stated PKPU, and further Bankrupt In Process Handling Bankruptcy Still in Process Handling Bankruptcy. On Progress Bankrupt
34 541/Pdt.G/2016/PN.Jkt.Pst November 1, 2016 Defendant PT. Mulia Restu Mandiri PMH Lawsuit 4.751.608.000 - In the Process Session in PN. Central Jakarta The trial is still in process at the Central Jakarta District Court. The trial is still in process. Agenda Dialing Defendant II Fiduciary Office
34 37/Pdt.G/2016/PN.Kds August 1, 2016 Defendant PT. Mulia Restu Mandiri PMH Lawsuit - - MTF Wins in Court Plaintiff / CV Restu Mulia Mandiri Appeal to High Court The trial is still in process. Agenda Dialing Defendant II Fiduciary Office.
35 42/BPSK-PTK/XI/2016 November 18, 2016 Complained Irfan Sandi Request BPSK BPSK Consumers in Pontianak 139.200.000 - - Advanced Call Waiting from BPSKThe First Session was attended by the MTF and the Borrower. Waiting for Advanced Session.
36 67/Pdt.G/2016/PN.Kds December 16, 2016 Defendant Dwi Endah PMH Lawsuit 61.250.000 - - In the Process Session in PN. Kudus On Progress Session PN. Kudus
37 No.23/Pdt.Sus.Bpsk/2016/Pn.Pdg December 20, 2016 Defendant Isra Mardianto Objections to the Decision of BPSK 112.998.200 - BPSK Assembly Rejecting request of objection decision of BPSK Padang Case Already there Decision of the judges. Request Objection Debtor rejected the judges.Assembly District Court Judge REJECT Request Objection Decision of BPSK Padang.
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NO Case Registration Number Case Date Company Position Opposition Side Material CaseValue of The Case
The Decision on Previous Court Case Status NoteMaterial Immaterial
1 58/Pdt.G/2014/PN.Jkt.Ut. February 17, 2014 Plaintiff Tonny Default 1.970.855.464 1.000.000.000 MTF Lost in the North Jakarta District Court Still in the process of appeal in the High Court. MTF filed Appeal, Judgment PN Party considers less insurance.
2 04/Pdt.Plw/2014/PN.CN. February 16, 2014 Plaintiff Sosi K & Risnawati Lawsuit Resistance Above Sita State Security Court Cirebon 539.142.800 - MTF won in Cirebon District Court Still in the process of appeal in the High Court. Appeal filed unchallenged.
3 843/Pdt. G/2014/PN.Sby. November 6, 2014 Defendant Kristono Default - 1.025.000.000 MTF won he District Court, and the High Court of Surabaya Still in the process of appeal in the High Court. Still waiting for a verdict Incracht
4 156 K/Pdt.Sus-BPSK/2016 September 10, 2015 Applicant Objections SudaryantoFiling Cassation By Sudaryanto Upper District Court Tanjung Balai
125.580.000 - MTF Won in the Medan District Court Consumers filed its objection, still under appeal in the Supreme Court.Sudaryanto filed its objection on Tanjung Balai District Court on October 21, 2015.
5 264 K/Pdt.Sus-BPSK/2016 October 29, 2015 Cassation Applicant Siti Nurjanah Filing Cassation By MTF 64.470.000 - MTF Lose in Court Asking MTF Cassation, is still under appeal in the Supreme Court.MTF has filed a legal action with the statement Cassation Appeal on December 28, 2015. At this time In-Process Inspection Team KHS.
6 10/Pdt.G/2016/PN.Srg February 11, 2016 Defendant Iin Inayah (YPK Senopati) Lawsuit PMH & Related inclusion formal clause 520.800.000 - MTF Wins in Court The judges have issued a ruling on this matter Debtor / Plaintiffs submitted an appeal to the High Court
8 22/Pdt.G/2016/PN.Jkt.Sel February 25, 2016 Defendant Andri Bayu Permana (YPK Senopati) Inclusion of the clause PMH lawsuit Baku 200.784.000 - - Progress On Trial. Awaiting Decision panel of judges The trial is being run.
11 8/Pdt.g/2016/PN.Sky May 13, 2016 Defendant Supriono PMH Lawsuit 113.862.000 - - In the Process Session in PN Sekayu (Palembang) Mediation Session Agenda Progress On Trial.
17 70/Pdt.G/2016/PN.JMB June 13, 2016 Defendant Raden Nawawi PMH Lawsuit 175.326.600 - MTF Won in Court The trial has been completed already Decision. The hearing was adjourned and the mediation agenda will be re-work.
19 29/Pdt.G.P/2016/PN.BIL June 28, 2016 Applicant Objections Sugeng Hari PurnomoApplication Filing Objections to the Decision of BPSK Kab. Probolinggo
142.800.000 - MTF Lost In BPSK Probolinggo MTF was filed cassation to the Supreme Court On Progress of Cassation
21 52/Pdt.G/2016/PN.Tsm. August 18, 2016 Defendant Pirman Sastra PMH Lawsuit 105.000.000 210.000.000 MTF Wons in Court Debtor through his proxy filed appeal to the District Court. Progress on the High Court. Appeal hearing process.
22 303.Pdt.Sus.BPSK/2016/PN.Prp August 8, 2016 Applicant Objections Sari Antoni Remedies Objection Decision BPSK Batubara - -Decision BPSK Batu Bara District MTF point defeat and win the consumer or debtor Sari Antoni
Decision on Request Objection Decision BPSK Bara district to district court had read out.Already verdict was read MTF point win and declare Decision BPSK Kab. Batubara is canceled
24 1283/PG/JS-IV/BPSK-BB/IX/2016 September 28, 2016 Respondent Ruslansyah Sinaga Consumers BPSK petition in the BPSK Kab. Batubara 31.549.700 -Decision BPSK Batu Bara District MTF point defeat and win the consumer or debtor Ruslansyah Sinaga
Already there Completion by Tim ExternalLost in the trial MTF BPSK, but between the Borrower and the MTF has been no resolution of this case. External team MTF Medan Branch direct approach and completion.
25 125/Pdt.G/2016/PN Plg August 15, 2016 Defendant Mansjoer/Tongkang Mas PMH Lawsuit 1.420.600.000 700.000.000 - The lawsuit in the District Court revoked by the Plaintiff Applying for Revocation Lawsuit Plaintiffs Case.
26 13/Pdt.G/2016/PN. Sdn September 15, 2016 Defendant Ridwan Diharjo PMH Lawsuit 91.399.000 - - Disconnect in Mediation, Cars already auctioned Special. Peace occurs by the plaintiffs and MTF in the District Court.
27 25/Pdt.G/2016/PN.Sdr December 21, 2016 Defendant Hj. Ode Rosdiyana PMH Lawsuit 467.564.000 - No DecisionStill trial process. MTF used as the defendant, but up to now there is no call for Pare-Pare Branch MTF altogether.
Still trial process. MTF used as the defendant, but up to now there is no call for Pare-Pare Branch MTF altogether.
28 1709/PG/ARB-I/JS-IV/BPSK-BB/IX/2016 November 4, 2016 Complained Sihol Pardomuan Simamora Consumers BPSK petition in the BPSK Kab. Batubara 70.704.000 - - Case in BPSK already in the End by BPSK Coal.Case has been in the ruling by the Council of BPSK Batu Bara. The point is MTF was Lost on their complaint this BPSK. But until now there was no follow-up of the Consumer / Debtor on the Decision of BPSK Kab. Batu Bara.
29 2014/PG/ARB-I/JS-IV/BPSK-BB/XI/2016 November 11, 2016 Complained M. Nur Consumers BPSK petition in the BPSK Kab. Batubara - - - Case in BPSK already in the End by BPSK Coal.Case has been in the ruling by the Council of BPSK Batu Bara. The point is MTF was Lost on their complaint this BPSK. But until now there was no follow-up of the Consumer / Debtor on the Decision of BPSK Kab. Batu Bara.
30 035/Ver/BPSK-Krw/VIII/2016 November 23, 2016 Applicant Sawen PMH Lawsuit - - Decision BPSK MTF Lost and District Court In the process of the Supreme Court of Cassation Progress on the Supreme Court of Cassation
31 74/Pdt.G/2016/PN Pwt. November 14, 2016 Defendant Tommy Bayu Aji (Yapeknas) PMH Lawsuit - 30.000.000 In the Process Session in PN. Purwokerto Still in proceedings in the District Court of Purwokerto.Still In Session in Purwokerto District Court. The continuing trial date February 21, 2017
32 111/Pdt-Sus/PKPU/2016/PN.Niaga.Jkt.Pst November 16, 2016 Other creditorsPT. Citra Maharlika Nusantara Corpora, Tbk. (Dahulu PT. Cipaganti Citra Graha, Tbk.)
While the process PKPU 1.011.011.400 - Debtor stated PKPU Still in Process Management PKPUStill in the process of handling PKPU, the Borrower shall carry out debt restructuring after the Peace Proposal Debtor granted by the Assembly, the Board and the entire Creditor PT. CMNC (Cipaganti)
33 113/Pdt.Sus-PKPU/2016 December 15, 2016 Other creditors Wahyu Thomi Wijaya While the process PKPU 2.188.980.900 - Debtor stated PKPU, and further Bankrupt In Process Handling Bankruptcy Still in Process Handling Bankruptcy. On Progress Bankrupt
34 541/Pdt.G/2016/PN.Jkt.Pst November 1, 2016 Defendant PT. Mulia Restu Mandiri PMH Lawsuit 4.751.608.000 - In the Process Session in PN. Central Jakarta The trial is still in process at the Central Jakarta District Court. The trial is still in process. Agenda Dialing Defendant II Fiduciary Office
34 37/Pdt.G/2016/PN.Kds August 1, 2016 Defendant PT. Mulia Restu Mandiri PMH Lawsuit - - MTF Wins in Court Plaintiff / CV Restu Mulia Mandiri Appeal to High Court The trial is still in process. Agenda Dialing Defendant II Fiduciary Office.
35 42/BPSK-PTK/XI/2016 November 18, 2016 Complained Irfan Sandi Request BPSK BPSK Consumers in Pontianak 139.200.000 - - Advanced Call Waiting from BPSKThe First Session was attended by the MTF and the Borrower. Waiting for Advanced Session.
36 67/Pdt.G/2016/PN.Kds December 16, 2016 Defendant Dwi Endah PMH Lawsuit 61.250.000 - - In the Process Session in PN. Kudus On Progress Session PN. Kudus
37 No.23/Pdt.Sus.Bpsk/2016/Pn.Pdg December 20, 2016 Defendant Isra Mardianto Objections to the Decision of BPSK 112.998.200 - BPSK Assembly Rejecting request of objection decision of BPSK Padang Case Already there Decision of the judges. Request Objection Debtor rejected the judges.Assembly District Court Judge REJECT Request Objection Decision of BPSK Padang.
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RISK MANAGEMENTMandiri Tunas Finance realize the implementation of corporate risk management is increasingly becoming a demand, because its success is a key factor to success in achieving the goals and win the competition at a global level. In business activities, Mandiri Tunas Finance faces some inherent risks, namely:
1. Risk StrategiesRisk strategy is the risk that arises as a result of failure in the planning, establishment and implementation of a strategy, making the right business decisions in order to achieve the objectives and targets MTF.
2. Operational RiskOperational risk is the risk that arises as a result of impropriety or failed internal processes, people, information technology systems and / or the events that originate outside of the MTF.
3. Risk Assets and LiabilitiesRisk assets and liabilities are risks that arise as a result of the failure of the management of assets and liabilities, which has created a shortage of funds in the fulfillment of obligations MTF.
4. Risk StewardshipRisk management is a risk that appeared as a result of management failure in maintaining the best composition of its management, Board of Directors and the Board of Commissioners who have the competence and integrity.
5. Risk GovernanceGovernance risk is the risk that arise because of a potential failure in the implementation good governance (GCG), inaccuracies management style, the control environment in the MTF.
6. Risk Support FundThe risk of financial support is the risk arising due to insufficiency of funds / capital existing on the MTF, including lack of access to additional funding in the face of loss or unexpected cash needs.
7. Risk FinancingFinancing risk is the risk arising from the failure of customer and/or other parties to meet obligations to the MTF.
Application of Risk ManagementRisk management The company implemented to support its growth in the rapid, healthy and sustainable and maintain the company’s level of risk at an optimal level. Approach to risk management undertaken by the Company comprehensively to identify, measure, monitor and control risks that affect our business, operations and organization. Risk management in the MTF is intended to maintain the Company’s capital, increasing the value of the company, to optimize the risk-return profile, supporting the decision making process and protect the Company’s reputation.
In accordance with POJK NO. 1/POJK.05/2015 dated March 26, 2015 on the Application of Risk Management for Financial Services Institutions Non-Bank, in the implementation of enterprise risk management rests on five pillars outlinedas follows:
IMPLEMENTATION OF RISK MANAGEMENT
Pilar 1
Active Supervision
from the Board of Directors
and Board of Commissioners
Pilar 2
Limitation Policy and
Determination
Pilar 3
Risk Identification, Measurement,
Supervision and Control
Pilar 4
Risk Management Information
System
Pilar 5
Internal Control System
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Pillar 1. Active Supervision Board of Directors and Board of Commissioners Active surveillance is reflected from business planning through: • The establishment of policies and risk management
strategies including the establishment of the authority in granting limits as well as a review of the quality of the portfolio on a regular basis;
• To supervise and actively mitigate risks • Ensuring adequate organizational structure • Evaluation of risk management policies on a regular
basis; • The presence of the Audit Committee, the Compliance
Work Unit, Division of Risk Management and Risk Monitoring Committee as part of an organ the Board in carrying out its oversight function;
Pillar 2. Policies, Procedures and LimitCompanies preparing policies related to risk management is checked regularly and always adjusted to the current business situation. Risk Management Policy is a written brief in implementing risk management and in line with the vision, mission, business strategy of the company and in its development should be coordinated with work related function or unit. The policy is translated into the Standard Operating Procedure (SOP) were disseminated to all employees.
The company also has set risk limits in accordance with the level of risk to be taken (risk Appetite), risk tolerance (risk tolerance) and overall corporate strategy by taking into account the ability of the company’s capital to absorb risk exposure or losses incurred. In order to control risk, limit is used as a threshold to determine the intensity level of risk mitigation by management. Limit well understood by all parties concerned and communicated if there is a change.
The Company also has a limitation on policies regarding approval / authorization for credit transactions and non-credit transactions. Loss provisioning policy is also in line with the Company’s receivables provisioning policy in the Parent Company are in accordance and compliance with regulatory provisions.
Pillar 3. Identification, Measurement, Monitoring and Control RiskCompanies have the tools to identify, measure, monitor and control risks existing seven regular basis, either monthly, quarterly and semester. Identification, measurement, monitoring, and controlling risk is a major part of the process of implementation of Risk Management. Proactive Risk Identification, covers all business activities of the Company and performed in order to analyze the source and possible risks and impacts.
Furthermore, the Company has conducted risk assessment in accordance with the characteristics and complexity of business activities. In monitoring the risk measurement results, the Company establishes an independent working unit of the parties to a transaction to monitor and analyze the level and trend toward risk. In addition, the effectiveness of risk management Risk management is supported by taking into account the results of the measurement and monitoring of risk.
Pillar 4. Risk Management Information SystemIn order to support the identification, measurement, monitoring and risk control, MTF has developed an information management system that is tailored to the characteristics, activities and business complexity. As an example of MTF Reports that contain leading indicators, coincidence and lagging-based mobile that provides information accurate, complete, informative, timely, and reliable so that the Board of Directors, Board of Commissioners and heads of related units can be quick in making decisions.
Pillar 5. Internal Control SystemsMTF has the Internal Audit Unit are independently reporting process and the results of the audit to the Board and the Managing Director. Accountability of the Internal Audit Unit include: • Provide an assessment of the adequacy and
effectiveness of all processes within the Company;
• Report significant issues related to process control activities within the Company, including potential improvements to those processes; and
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• Coordination with controllers and other supervisory functions (risk management, compliance, legal and external audit).
In addition MTF, a Subsidiary of PT Bank Mandiri (Persero) Tbk has also done Consolidated Risk with parent company where this activity is proof of compliance with Bank Indonesia Regulation No. 8/6 / PBI / 2006 dated January 30, 2006 and Regulation of the Financial Services Authority No. 17 / POJK.03 / 2014 dated 19 November 2014 on Integrated Risk Management Application For Financial conglomerate, which is where the implementation of enterprise risk management is an integrated and consistent approach in conducting reviewing, measuring, monitoring and managing risks to all components of the Company group. The development of this consolidation periodically communicated Bank Mandiri to the regulator.
The concept of consolidation with the Parent Company’s risk management is divided into two (2) major parts, namely:1. First Line, relating to fulfillment of the provisions
of PBI No. 8/6 / PBI / 2006 concerning Application of Consolidated Risk Management for Banks Performing Control Against subsidiaries.
2. Second Line, which is more of an approach to the internal needs of the Company as a whole which includes tools (tools), risk awareness (awareness), corporate governance (governance), and risk management information system (system).
Various forms of activities undertaken in order to consolidate the risks include: • Consolidation Risk Annual Conference (ARCC)
between the Parent Company and all its subsidiaries;
• Integrated Risk Forum Committee (FIRC) held with the Bank on a quarterly basis to discuss developments Inherent Risk Profile and Quality Risk Management (KPMR) in MTF;
• Application of Risk Appetite Statement (RAS) in conjunction with the Bank as one of the tools of Risk Management to measure the level of risk that is acceptable to support the Company’s business strategy;
• Implementation of an integrated stress testing the Bank with a subsidiary every quarter, using some assumptions / scenarios as a form of corporate action in anticipation of bad business environment;
• The application scoring model created and calibrated periodically by the Bank in accordance with business conditions MTF;
• Monitoring the liquidity condition of the companies on a weekly basis to be reported to the Parent Company as a form of risk consolidation.
• Risk Awareness Survey (RAWs) conducted annually to determine the development of risk awareness of employees MTF;
• Risk Based Bank Rating conducted every semester to determine the development of the ability of capital and profitability levels MTF;
• Integrated Central Liabilities System (ICLS) is a system that contains the data set Bank Mandiri customers and all subsidiaries.
Management profile business
Indonesian citizen, domiciled in Jakarta, 48 years old and was born in Jakarta, March 9, 1969. He holds a Bachelor of Industrial Engineering from University of Pasundan in 1988-1996. He has served as Head of Risk Management Division of PT Mandiri Tunas Finance since 2015 until today.
RM Indra Wardhana, STHead of Risk Management Division
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Worked as Risk Management Division Head of PT Bank Mandiri (Persero) Tbk (2008-2015). He previously served as the Consumer Risk Department Head of PT Bank Mandiri (Persero) Tbk (2005-2008), Consumer Collection Department Head of PT Bank Mandiri (Persero) Tbk (2002-2005), Consumer Collection Section Head PT Bank Mandiri (2001-2002), Branch Manager of PT Bank Mandiri Ternate (1999 - 2001), Retail Officer of PT Bank Mandiri Cabang Manado (1998 - 1999), Retail Officer of PT Bank Mandiri Branch Gorontalo (1996-1998). He started his career as a Program Development Officer at PT Bank Bumi Daya.
Risk managementRisk management of the company is intended primarily for the management of three biggest risks such as credit risk and operational risk and asset and liability risk at an acceptable level.
Financing Risk ManagementFinancing risks derived from the provision of financing activity. Financing risk management aims to quantify, anticipate and minimize losses due to failure of the debtor to meet its obligations.
• Financing PolicyFinancing policy deployment is operationally manifested in a Standard Operating Procedure (SOP). Financing management process begins with the determination of the target market, do a risk assessment and monitoring of the provision of financing.
The Company applied the precautionary principle in the provision of financing, in which the functions of credit analysis performed by the business units and units of independent financing risks, credit approval functions performed by “four eyes principle”
• Financing AgreementIn assessing credit applications, MTF always abides by the regulations and prudential banking principles based on factors including assessment of ability to pay, the debtor’s business prospects and performance. MTF has implemented a mobile survey in order to improve the quality of loan disbursement.
Credit processes and risk management segment of retail financing is done through the process end-to-end integrated in the system of e-Star. The decision making process in the corporate segment and fleet made through Credit Committee Meeting (RKK). While in the retail segment is done through a system of credit scoring. Credit scoring models periodically validated to ensure its accuracy.
To speed up the decision-making process of the credit, the company has given authority to decide on credit to any officer appointed by certain qualifications.
• Financing MonitoringMonitoring of financing in the corporate segment and fleet were calculated using a Watch List. Watch List is a standard method, structured and comprehensive in monitoring the performance of the debtor, so that early treatment can be done to prevent a decline in the credit quality of borrowers. Monitoring is conducted on a daily basis with their special work function account handling problems / potentially problematic in the work unit fleet.
Monitoring to be done at the retail credit portfolio level through portfolio analysis of various aspects (quality and quantity of various angles portfolio analysis) as outlined in the monthly portfolio reviews. The Company also conducts periodic monitoring of the official holders of loan approval authority to monitor the quality of decisions.
As anticipatory measures (early warning signal), a process simulation and stress testing of the portfolio periodically to determine changes in the quality of the portfolio against macroeconomic changes. The simulation results provide guidance for the Company to more closely monitor sectors or debtors which may experience deterioration in quality as well as to establish the anticipatory measures to prevent the bad effects.
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• Credit Collection and RecoveryThe Company specifically running handling collection and recovery policies that created a more focused, systematic, aggressive and integrated by product type and each bucket collection. The policy is supported by the Automatic Collection System that are end-to-end and fitted with a collection reports. MTF has also implemented a mobile collection is equipped with EDC to facilitate field collector in collecting.
Operational Risk ManagementOperational risk can be caused by the inadequate or failed internal processes, human error, system failure, or other external factors that affect the Company’s operations. An effective operational risk management can reduce losses caused by operational risk. In order to improve the effectiveness of operational risk management, the Company carries out several matters such as aligning the Risk Based Audit methodology through the synchronization of risk library; providing a medium of communication with the President Director named ”letter to CEO” as part of Whistle Blowing System, and implementing an instrument called Operational Risk Management Tools (ORM Tools). ORM Tools used for ORM implementation is as follows:
a. Key Risk Indicator (KRI)KRI is the tool that is used to monitor the key risks related to the Company’s operational activities. The monitoring is conducted to understand risk limit that can exist in the related work units that are exposed to the key risks every month.
b. Risk Control & Self Assessment (RCSA)RCSA is used to identify and assess the risks inherent in the activity, as well as assessing the quality of control that have been conducted quarterly.
c. Loss Events Database of the Company (MLED)MLED is a form that is used to record all losses caused by operational risks that occur in the work unit. The recording is performed by each work unit every month by online/web-based.
d. Early Detection System of the Company (MEDS)MEDS is an early detection system for loan acquisition and collection process, as well as fraud events that may arise in the business process with potential of loss.
In case of operational risk management, risk management work unit serves as the second line of defense and internal Audit as the third line of defense. Meanwhile, business work unit as risk owner takes the first line of defense that is responsible to the operational risk management in each work unit.
• Business Continuity ManagementAside from the tools above, to guarantee the sustainability of the Company’s operation in emergency situation, the Company has a comprehensive plan that consists of the steps that need to be taken before, during, and after the occurrence of emergency. The Company’s policy in ensuring the sustainability of business operations is stipulated in Business Continuity Plan (BCP). At present, the Company is developing BCP into Business Continuity Management (BCM) which includes Business Continuity Plan (BCP), Disaster Recovery Plan (DRP) and the Emergency Response Procedure (ERP).
• Disaster Recovery Plan (DRP)is a thorough planning of the actions to be taken before, during and after a disruptive event and cause a loss of information systems. Interest DRP is tackling the crisis in order to process the operational activities of the company remains in good standing when the server system downtime by using backup systems (back up) that had been prepared.
• Emergency Response Plan (ERP)is a planning strategy to anticipate and cope with emergencies with a team that has the duty and responsibility to provide rescue action in the event of an emergency.
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• Business Continuity Plan (BCP)is a plan that is focused to maintain the continuity of business functions during a critical disruption caused by natural disasters or man-made that could potentially cause a loss so as to minimize the effects of interference and to allow the business to continue.
Liquidity Risk ManagementThe main focus on asset and liability risk management is in the company’s liquidity problem. Liquidity risk may occur if the Company fails to provide liquidity at a reasonable and competitive price for business. Every month, the Company manages its liquidity risk through the Asset Liability Committee (ALCO). The Company has entered into agreements with Bank Mandiri in terms of Joint Financing, thus generating the provision of funding commitment from Bank Mandiri during the year.
In addition to joint financing, the Company has also received loan commitment from several local banks and international private banks with a fairly long period of time and covered the debtors’ loan tenor. The entire loan both funding and financing are performed in fixed interest rate with fixed tenors and in denomination of Rupiah; thus, the Company is not exposed to market risk. This is done as a gapping strategy or liquidity miss-match.
Other RisksBesides the credit risk, operational risk and liquidity risk, the Company also pays attention to the other risks that must be managed, such as: market, compliance, legal, reputation, strategic and inter group risks. All these risks are managed each quarter in an integrated manner with Bank Mandiri through the Integrated Risk Committee Forum (FIRC).
In terms of risk management, the Company uses indicators / parameters such as the establishment of procedures and the legality of the documents relating to the appointment and dismissal of the Board of Directors / Board of Commissioners, the ownership composition and the proportion of Directors / Board of Commissioners in accordance with the provisions of existing law, and the determination of the criteria of competence and integrity good for the Board of Directors / Board of Commissioners.
In terms of risk management, the Company uses indicators / parameters such as completeness of adequate governance guidelines, the principles of openness, accountability, responsibility, independence, fairness and equality, as well as Risk Management is implemented properly.
In terms of strategic risk, the Company conducted a review of performance and evaluation of policy formulation business targets and undertake corrective measures in the plan strategy and business targets in accordance with Risk Appetite and to consider internal and external conditions.
In terms of risk Support Fund, the company uses indicators / parameters of the ability of the Company funding and additional funding the company is regularly evaluated through achievement ratio Financial Soundness (TKK).
Focus and Risk Management Initiatives 2017
Focus and risk management initiatives in 2017 remained on Credit Risk and Operational Risk. It is seen in KPI MTF which largely focus on the quality of the portfolio under management. 2017 MTF will implement the policies and the new provisions contained in the Standard Operating Procedure (SOP) and disseminate to all work units that have the same perception and understanding.
To maintain and improve the quality of the portfolio, MTF will implement collection scoring models, in addition to the MTF will also develop methodologies for measuring profitability in accordance with the target segment accounts that have been set, so it still can increase company profit.
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Human Resources
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Corporate Governance
Human Resources (HR) is essential in supporting the performance and become a very important asset for the Company. HR professional, reliable, and competent is key to achieving the Company’s vision as best auto financing company, biggest and most reliable.
In support of HR management productive and have a harmonious relationship, the Company has a Corporate Regulation which was approved by the Decree of the Ministry of Manpower Directorate General of Industrial Relations and Labor Social Security No. TAR.163/PHIJSK-PK/PP/II/2016 Date February 11, 2016.
Human Resources
Duties and Responsibilities Human ResourcesDuties and Responsibilities business HR MTF is a section or division within the company that manages human resources in the company,starting from the task of human resource planning (Manpower Planning), hiring (perople Resourcing), employee development through training (Training
Human Resources Report
& Development ), performance management (performance management), payroll and employee compensation (compensation & Beneft), as well as foster the working relationship industry (Industrial relations).
Employee compositionIn 2016, the Company employed about 3577 people spread across branch offices in Indonesia. The number of employees of the Company in accordance with the need to face the competition is increasingly open, increasingly complex interactions, and demands the best service for customers.
In the details of the composition of the Company’s employees are classified based on the hierarchy, education, and age is as follows:
Table of Employee Composition based on Organization LevelPosition 2016 2015 2014 2013 2012 2011
Staff 2.600 2.790 2.540 2.100 1.768 1.435Supervisor 778 749 628 528 446 399Manager 193 180 156 159 151 132Board of Commissioner and Board of Director 6 6 5 6 6 6Total 3577 3.725 3.329 2.793 2.371 1.972
Table of Employee Composition based on EducationEducation 2016 2015 2014 2013 2012 2011
Junior High School and equivalent 0 1 1 1 1 1Senior High School and equivalent 580 615 606 530 418 412Academy 721 804 735 684 518 417Bachelor Degree 2.276 2.305 1.987 1.578 1.434 1.142Total 3577 3.725 3.329 2.793 2.371 1.972
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Table of Employee Composition based on Employee StatusStatus 2016 2015 2014 2013 2012 2011
Permanent 2.977 2.771 2.125 1.808 1.578 1.113Contract 600 954 1.204 985 793 859Total 3.577 3.725 3.329 2.793 2.371 1.972
Table of Employee Composition based on AgeAge 2016 2015 2014 2013 2012 2011
<20 years old 3 3 2 4 3 320-29 years old 1.336 1.694 1.342 1.270 1139 85630-39 years old 1.896 1.777 1.740 1.328 1083 97040-49 years old 315 229 223 177 140 137>50 years old 27 22 22 14 6 6Total 3.577 3.725 3.329 2.793 2.371 1.972
Human Resource Development
Improving the quality of human resources is done through the various education and training held in 2016. This was done to support the needs of the Company will be quality human resources to promote growth and development business is increasing every year. Human resource development is done thoroughly good selection process, performance assessment, and training and education.
To achieve these performance improvements that have been targeted, the Company is committed to continue to develop the potential of employees
consistently and continuously through the learning process, including organizing a wide range of education, training and workshops both internally and externally in collaboration with educational institutions. Education and training is expected to enhance the knowledge and skills of employees in improving work productivity, risk management, corporate culture and professional work.
Table of Education and Employee TrainingTraining Activity Group Q1 Q2 Q3 Q4
Collection 48 104 64Credit 24 9 22Operation 24 42 24Sales 24 9 69 30Certification 95 89 75 52Soft Skill 208 460 77 66Support 643 272 205 117Workshop & Work Meeting 643 489 390 582Total 1709 1474 862 911
In 2016 the company focused its human resource development program to create a successor-new successor to fill potential and strategic position of the company, therefore the company is preparing an educational program to foster employees’ potential to become future leaders, which include:
1. Education Program Management Trainee (MT)A human resources development program that was developed specifically for Fresh Graduates in order to produce future leaders who are able to support the achievement of the company’s vision. MT participants come from internal and external company which is a graduate student
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(undergraduate and masters) from a leading university located in Java, Sumatra and Sulawesi. During 2016 the Company has made the selection process for the Management Trainee program two (2) batches with the number of participants Management Trainee Batch I as many as 22 (twenty-two) people and participants Management Trainee Batch II as many as 24 (twenty four) people.
2. Education Program Manager Development Program (MDP)A program designed to prepare future leaders of the company through a fast-track career development level manager. MDP participants come from internal employees of the company who has the achievement and the potential and come from all units within both Head Office and Branch Office. For 2016, the company held MDP Education Program that was conducted in April 2016 with a total of 11 people participants.
RecruitmentTaking into account the business development, the Company implement compliance strategies appropriate human resources, accurate and fast, with due regard to quality or basic competence of the candidates.
The company implemented recruitment mechanisms are selectively carried out by a professional institution or company with the selection process through the administration test, interview, psychological test / assessment and medical tests are then approved by the competent authorities to decide accordingly.
The recruitment process is done in several stages, among others, screening, and hiring, according to Manpower Planning. The recruitment process of the Company put forward the principles of openness, fairness and equality based on the needs and competencies held by prospective employees. Candidates who meet the administrative standards captured through the company website, advertising, job fairs, as well as references. For specific positions requiring special competence and expertise, the Company prioritize aspects of the understanding, experience and personality profiles of prospective employees, related to the job.
Recruitment strategies were applied to the Company, among others, the publication of recruitment through newspapers, magazines, websites and job portals. In recruiting, the Company opened a wide opportunity regardless of race, religion, race and class.
The Company adopts the methods of recruitment and selection of appropriate and quick in recruiting qualified and competent human resources in the field. The Company qualifies HR competencies needed by the company on the business plan work unit, based Manpower Planning (MPP). MPP set is consistent with the objectives and business strategy of the Company, based on the annual Business Plan of the Company in accordance with the decision of the Management. In MPP also elaborated on the competence of human resources requirements will be chosen through a selection process that is transparent, objective, and professional. Calculation of the amount of Manpower Planning (MPP) sourced from:
• Put each Division head against the set targets of Management and refers to an evaluation of the productivity of each Division / Unit work.
• Decision budget Man Power Planning (MPP), which has been approved by the Management.
In 2016, the Company held a recruitment and selection process in several ways, among others:
• Internal Company: carried out by internal personnel selection to fill a vacancy in a unit of work according to the needs of the organization and is open to employees from other work units within the company.
• External Company: look for prospective employees of an external company through advertisements in the media, internet/website/mailing list, poster/flyer in public places representative, campus hiring, books graduation, employment reference, direct sourcing, participation in the job fair/career day and walk in interview.
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Management and Performance AssessmentManagement and Performance Assessment is an evaluation tool achievement of targets and objectives to be achieved by all employees and work unit which is based on the vision, mission and objectives of the company’s long-term as well as KPI Company. Performance Assessment of each individual employee who conducted objectively, tiered, periodic and transparent.
Reward and PunishmentThe reward system aims to boost employee productivity will continue to be upgraded periodically. Reward given to employees varied, ranging from incentives to reward trip is planned each year.The Company continues to provide awards or rewards to
employees in the form of an increase in remuneration policies that are tailored to the financial condition of the Company based on the level of inflation, market financing industry, and an assessment of indicators of work each work unit.
The Company also provides punishment to employees who violated company regulations, the Standard Operation Procedure (SOP), and the Code of Ethics Employees. The Company provides guidance letter of reprimand and discipline against employees who violate the rules of employment and breach of SOP. Severe sanctions such as termination of employment of an employee who committed serious violations or repeated minor offenses.
Sanction TypeEmployee that Gave Sanction (employee)
2011 2012 2013 2014 2015 2016
Reprimand Letter I 33 29 16 26 35 5
Warning Letter 81 55 19 57 60 125
Warning Letter II 48 25 40 17 21 59
Warning Letter III 22 31 42 12 8 35
Employment Termination 18 10 8 1 5 5
Total 202 151 125 113 129 229
Human Resource Information SystemEntering the era of technology today is the speed and ease of access to information becomes a very important thing to be implemented in the field of human resources. Therefore, the Company developed the systems and infrastructure to facilitate communication and information needs of employees through the Human Resources Information System (HRIS).
In 2016 the Company has been able to provide a means for employees information on line through HCIS system, among other administrative activities of employees.
Rotation and Mutation EmployeesIn order to give the duties and responsibilities of the employees concerned at the level of higher office do a rotation and mutation. Rotation and movement for the promotion set in accordance with the Articles of Association of the Company/Decree of the Board/Management Policy No. 003/SK-Dir/MTF/I/2014 on Mutation Policy, Promotion and Demotion Employees.
During 2016, the rate of rotation and movement of employees by 4%. The amount of the percentage due to the needs of the company in an effort to achieve the target as well as employee development efforts.
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No Month Employee Mutation Total Employee Percentage of Mutation/Total Employee
1 January 151 3.712 4%
2 February 135 3.668 4%
3 March 95 3.672 3%
4 April 62 3.660 2%
5 May 90 3.646 2%
6 June 117 3.646 3%
7 July 167 3.631 5%
8 August 182 3.609 5%
9 September 149 3.614 4%
10 October 103 3.586 3%
11 November 225 3.588 6%
12 December 136 3.577 4%
Welfare and Social Security
In order to carry out the mandate of labor law and retain employees, the Company strives to continuously improveEmployee well-being through various aspects, among others: • Provision and improved remuneration and
benefit, social security participation BPJS Health, membership in BPJS Employment, health facilities and insurance
• Employee development programs such as the program to improve education; support the needs of employees to carry out religious worship and belief in accordance with the provision of facilities and infrastructure and the budget implementation of religious activities;
• Support the need for employees to carry out sports activities with the provision of facilities and infrastructure and the budget implementation sporting activities;
• Assistance to Employees who experience grief. • And others
Human Resources Development Plan for 2017
In 2017, the Human Resources Department of the Company has development plans, which are as follows:1. Improving the quality and capability of human
resources at PT Mandiri Tunas Finance.2. Increased development and competency-
based training 9 competent officer which have been harmonized with the cultural values of the Company.
3. Increase employee productivity by reviewing related business processes.
In this case, in order to realize the plan, by education and training to increase the competence of human resources and recruiting the right employee.
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The development of information technology is growing rapidly and requires competitive make MTF have to organize and fix quality information technology-based services to provide the best service to consumers..
In the globalization era, the reliability of information technology is one of the important elements that support business processes and excellence service. Technology is the key that allows MTF provide products and services to consumers, measure and track business performance, as well as take appropriate management decisions for its survival.
In 2017, Information Technology Division aware that the importance of customer convenience in doing business with the MTF, then the Information Technology Division developed a CRM system that is expected to answer all the needs of customer-related business processes in the MTF. Information Technology Division also update Server Core technology to increase the capacity of MTF core server so it can accommodate MTF business growth for next 5 years. In addition, the Information Technology Division implemented thin client to improve budget efficiency and security of information systems in all branches.
Tasks that will conducted bt Information Technology Division in 2017 are:1. CRM (Customer Retention Management). The
Information Technology Division developed a CRM system that will be used by the Marketing team in maintaining existing customers which is expected
Information Technology Report
to reduce the cost of marketing and advertising while also aiming to increase corporate profits.
2. Implementation of Thin Client. Information Technology Division transformed the management of user’s computer by providing protection to the computer used by user and jointly organize data storage on a single storage. This implementation is expecte to centralized computer management and efficiency of electric power consumption due to the form of a thin client is much smaller than a regular computer.
3. Project Management Application. Information Technology Division developed applications for project management so can control project that will begin and progress. This application is expected to be able to control all incoming project to IT.
4. Online Auctions Application. Information Technology Division develop this applications to help increase the sale value of the MTF asset auction.
5. Updating the Core server technology. The Information Technology Division updating MTF Core servers to increase currently server capacity.
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CURRENTLY APPLICATION DIAGRAM
CURRENTLY INFRASTRUCTURE TOPOLOGY
DC & DRC DUAL LINK TOTAL CABANG 93
SUNGLACCOUNTING SYSTEM
ORANG-E HCSYSTEM
LELANGSYSTEM
PROCUREMENTSYSTEM
SHARE POINT DOCUMENT MANAGEMENT SYSTEM
MOBILE COLLECTION
MOBILE SURVEY
MOBILE REPORT
MOBILE MARKETING
PABX CCTV PC & LAPTOPWINDOWS BASED
MOBILE DEVICE ANDROID BASED
Goods and Services Procurement Governance
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The application of the principles of good corporate governance (GCG) in the procurement process will be easier if it is supported by all components involved in the procurement process both the Procurement Division, Unit Work-related and Providers.
All parties must together understand and simultaneously implementing all the ethics and principles of procurement (efficient, effective, transparent, open, competitive, fair and accountable), which has been contained in the articles of the procurement policy of Goods and Services Company.
In 2016 the Company is planning the transformation of the system to manage and control policies and activities related to the procurement of goods and services with the target of selecting providers of goods and services of experienced and capable of providing the quality of service, competitive price, warranty after-sale and carried out by an experienced company have expertise in accordance with the needs of goods and services.
We introduced a e-procurement system i.e. procurement of goods and services that the implementation process is applied through a system of information technology.
E-Procrument Translation namely:a. The procurement of goods/services become
easier;b. Save on administrative costs of procurement,
as well as the cost of the use of consumables;c. Accelerate the process of procurement of
goods / services;d. Getting prices and goods / services more
competitive with the increasing number of participants who signed up for auction;
e. Increase transparency in the procurement of goods / services
Goods and Services Procurement Governance
E - Procurement
Definition of E- Procurement Procurement of goods and services that the implementation process is applied through a system of information technology.
Benefits of E-Procurement • The process of procurement of goods/services
become easier; • Saves administrative costs of procurement, as well
as the cost of the use of consumables; • Accelerate the process of procurement of goods/
services; • Getting prices and goods/services more
competitive with the increasing number of participants who signed up for auction;
• Increase transparency in the procurement of goods/services.
Stages of E-Procurement Process
PKS
Monitoring E-Catalog
Supplier Management
E-Tendering
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E- Tendering
Monitoring systemSystem of control and monitoring of the implementation of procurement jobs
Function Monitoring System a. Monitoring and controlling the implementation of
the procurement and payment processesb. Performance evaluation and supplier performancec. The system update process progress execution of
work and paymentd. The scoring system of supplier jobs
PKS and VMS
Cooperation Agreement (PKS)Binding agreement drafting making system that contains rights and obligations that have been agreed by both parties.
Vendor Management System (VMS)The system used to manage data information to know history and performance qualification data providers of goods and services. Vendor Management System is the first door to be able to be a partner Supplier MTF.
Aanwijzing Scoring Opening the Envelope
Clarification & Negotiation
Winner Determination
Clarification & Advanced Negotiation
Definition The procedure for the selection of providers of goods/services conducted openly and can be followed by all providers of goods/services listed in an electronic procurement system. In E-Tendering, there are stages in the procurement of goods and services.
E-Catalog
Definition Electronic information system that contains the list, kind, Technical Specifications and prices of certain goods from suppliers of goods and services.
Benefit a. To provide convenience to practitioners
GA Division in carrying out procurement in accordance with user needs
b. Provide certainty technical specifications and reference price is uniform and does not required the manufacture of the same specification
c. Making HPS (Estimated Price Alone) only 1 x when the initial preparation
E – Purchasing
The procedure for purchasing goods and services through the electronic system. E-Purchasing is only used for the issuance of a PO (Purchase Order) in the procurement of goods and services is an umbrella contracts and purchases of goods and services that are routine.
Function of E-Purchasing
a. Procurement document provided in the application system
b. Procurement through E-Purchasing can recorded and well-monitored
c. Speeding SLA practitioners of GA in terms of provisioning and maid of goods/services
Procurement Manual E- Procurement
Approval is still using a signature Approval has been using the system
Planning schedule for
implementation of the
procurement can be fickle
Planning the implementation of a
more regular schedule
Making HPS still manually using
excel
Making the HPS already systemize
and there is a price data bank
Irregular data management
partner
Regular partner data management
and well-monitored
There has been no vendor
performance assessment
There are a vendor performance
assessment Monitoring
implementation
Monitoring implementation of
the work still use manual, via
phone and email
Monitoring the implementation of
the use of the system and the vendor
can upload evidence of progress in
the system
Corporate Social Responsibility
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PreliminaryMTF understand that business success is not only measured by profits, but also in terms of the ability of the Company pursue the interests of its stakeholders. MTF looked at the viability or sustainability efforts is a top priority of business. This can be achieved if the company is able to build a harmonious balance between the interests of commercial / proft, social and environmental.
As a conscious companies, MTF always try to give the best for the surrounding environment and has implemented a corporate social responsibility is real flowering of harmonious relations with the community. For MTF, Corporate Social Responsibility (CSR) is an ongoing commitment to act ethically in having a responsibility towards customers, employees, shareholders, communities and the environment in all aspects of the Company’s operations and contribute to the economic development of the community local or society at large. Implementation of CSR is also designed with attention to sustainable development objectives principled meet current needs, without ignoring the rights of future generations.
MTF management fully supports the implementation of activities related to social responsibility. Evidenced by the establishment of functions within the organization responsible for the implementation and success of the company’s social programs. Commitment to the implementation of CSR activities.
MTF also believes that sustainability is not only obtained through achievement of financial targets only, but also greatly supported by the investment of non-financial built through the Company’s contributions to the development of society in the fields of education, health, and environmental management as well as things that are responsive to natural disasters and other major calamities that occur in the community. Thus, in the future to create a constructive response and reciprocity among stakeholders to the Company, so that the impact on enhancing the value (value) to the satisfaction of all stakeholders and provide benefits to the wider community.
Corporate Social Responsibility
Objectives of CSR ImplementationMTF see the CSR as a contribution to sustainable economic development, helping to improve and protect public health as well as paying attention to the surrounding environment corresponding with business ethic. MTF believes CSR implementation will provide many benefits to the Company. Successful implementation of CSR in the long term is believed to be influential, especially in terms of trust, creating harmony and enhance the reputation which in turn has implications for the creation of added value that encourages fluency stability and growth of the Company
Basic PolicyCSR activities undertaken throughout the Company were based on general policies and regulations in Indonesia, such as:1. Act No. 8 of 1999 on Consumer Protection2. Act No. 13 of 2003 Manpower3. Act No. 40 of 2007 on Limited Liability Company4. Government Regulation (PP) No. 47 of 2012
on Social and Environmental Responsibility of Company Limited
5. CSR Guidelines for Environmental Affairs of the Ministry of Environment
ScopeCSR activities CSR Company’s scope of activities that have been made include:1. Labor, Health and Safety2. Environment3. Social and Community Development4. Responsibility to Customers
CSR Program Method MTF designing and implementing CSR programs in a systematic and integrated way. Implementation of MTF’s CSR conducted using participatory approach, by empowering potential of existing areas in order to improve the ability, income and prosperity in a sustainable manner. MTF evaluation and monitoring of CSR programs is done so that the program can achieve the goals that have been set.
CSR Organization StructureSo that CSR activities can be well managed and provide maximum results, MTF establish organizations in addressing CSR activities that is attached to the
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Company Secretary. The organizational structure of CSR MTF is as follows:
CSR Management Profile • Duties and responsibilities of CSR MTF as follows: • Plan, specify, develop, control and develop the system,
guidance, and guide the implementation of CSR coaching
• Plan and control the cost of managing CSR • Carry out supervision over the implementation of
coaching • Evaluate the performance of coaching • Make periodic report the implementation of coaching
and business development trained partners.
Budget and Program CSRBudgetsMTF is committed to continue to raise awareness to the stakeholders both in terms of economic, social and environment through the implementation of the budget allocation policy CSR (Corporate Social Responsibility) that observe the principle of compliance and fairness. Increased benefits coverage can be indicated with the rising CSR budget from year to year.
Period Disbursed Cost
2013 232.122.050
2014 344.744.736
2015 400.372.050
2016 331.000.000
CSR ProgramBased on outline, MTF’s CSR program is divided into four main areas, namely:1. Corporate Social Responsibility for Environment,2. Corporate Social Responsibility and the Social
Development Sector Partnership3. Corporate Social Responsibility Field of Labor,
Health and Safety at work,4. Corporate Social Responsibility Towards
Customers.
The activity was carried out based on careful planning, responsible, and refer to the respective policies.
CSR Management PerformanceThe management of CSR funds be audited every year together with the audit of financial statements to improve accountability for the use of these funds. In addition the Company Secretary as the executor function that handles the CSR has made an annual CSR report submitted to the Company’s management.
Social Responsibility to the Environment
Throughout 2016 the form of activities related to environmental responsibility is through a green office program is guided by the Ministry of Environment. The program is run in order to realize the participation and support of the company towards environmental sustainability working area of the Company.
Green Office ProgramAs we care about the environment, MTF applying Green Office program which is an office concept that activities carried out in a manner that is environmentally friendly, ie all employees and the management of office work to implement various austerity, such as paper-saving, energy saving and water-saving as well as the company’s efforts manage waste.
Application of Green Office in the MTF is expected to provide benefits, not just the tangible and concrete benefits such as increased revenue, cost reduction and enhancement of efficiency, but also other benefits such as improved image, the implementation of CSR and GCG.
Financial Impact From Social Responsibility to the Environment During 2016 the activities of the implementation of the environmental impacts do not cause financial losses to be significantly.
CSR Related to Labor, Health and Safety
Employees are assets that support the sustainability of our business, so the relationship with employees as well as aspects of occupational safety and health of employees is a priority of the Company.
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Policy Implementation of employment policy, health and safety MTF referring to the Indonesian Government Regulation No. 50 of 2012 on the Safety Management System and Occupational Health.
MTF has always been committed to improving employee competencies that support their productivity. Through competency enhancement program, workers will always be ready to face any future changes that could disrupt all activities of the company.
Activities performedMTF routinely conduct activities related to the K3 annually done within the scope of both internal and external. It aims to improve the knowledge, understanding, awareness, monitoring and implementation of K3 in all aspects of the activities in accordance with the corporate culture.
Activities related to occupational safety and health in 2016 are as follows:1. Emergency Response Office
MTF conducts PKDK simulation annually as an employee preparedness efforts in dealing with emergencies in the company.
2. Socialization HIV / AIDS3. Healthy Lifestyle
Employee health evaluation conducted once a year in the form of medical check-up, subsequent to which the results were not good (not standard) are required to follow a healthy lifestyle such as regular sporting activities (example: gymnastics, swimming, and tennis).
4. Health Seminar Health seminars conducted to all MTF employees to anticipate employees from the threat of disease - diseases that often attack danger. Examples of the materials that were presented was skin diseases, acute respiratory infections, diabetes, stroke and others - others.
Gender equalityMTF treat HR regardless of gender or race element. Application of the principle of non-discrimination is the basis of our interaction with the employees within the framework of creating harmonious industrial relations.
Employee UnionFreedom of association for employees reflect the Company’s compliance to the Law No. 13 Year 2003 on Labour and the provisions of ILO convention 87/1948 which guarantees the freedom of all workers to enter the labor organization managed professionally as a means of connecting mutually harmonious lucrative relevant parties. Company gives the freedom for employees to join a trade union.
Employee Satisfaction SurveyMTF make efforts to meet the expectations of employees, one of them by carrying out employee satisfaction surveys. Measuring the level of employee satisfaction is an important aspect to determine the level of service rendered and obtain feedback to develop a service delivery system that is responsive to the needs of employees.
In 2016, the company conducted employee satisfaction survey with result 80% satisfied which defined the employee engagement is good.
Financial Impact Of Social Responsibility Against Labor, Health and Safety at WorkSignificantly implementation of CSR for K3 does not provide financial impact on the company, given it has been budgeted in the financial plan of the Company and has been the Company’s annual program.
Social Responsibility and Social Development Sector Partnership
Policies and FeesSocial and community development policies implemented in the company in the form of corporate social aid programs.
Programs and Strategies • The activities that have been done are as follows: • Disaster Relief • Education and Training Relief • Facilities and Infrastructure Works Relief • Worship Facilities Relief • Health Improvement Relief • Conservation of Nature Relief • Social Community Relief
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Food Package Aid to the OrphanageAs part of its social responsibility for the community, in July 2016, MTF provided food packages aid to the Benih Kebajikan Foundation in Jakarta. MTF entourage was greeted happily by the managers of the orphanage and the surrounding community.
Qurban of Limousin Cattle Class E 612kg in Eid al-Adha, September 2016Celebration of Eid al-Adha is a great day which is used by Muslims as a symbol of sacrifice and compassion. On the occasion of Eid al-Adha in 2016, MTF provided assistance in the form of Qurban of Limousin Cattle Class E 612kg as a form of affection MTF to the public.
Blood Donor • Branch Lampung • Branch Medan • Head Ofce 2x • Branch Sukabumi
Financial Impact of Public Social DevelopmentCompany understand the distribution of funds CSR is not a cost disadvantage in terms of financial performance, but as part of a long-term investment. MTF believes CSR activities will have a positive impact for the sustainability of the Company. It is recognized that in the short term CSR activities can not be felt, but certainly indirectly will have a significant impact on the performance of the Company.
Auction For Charity To develop a sense of concern for others, Officers MTF conducted online auctioning some loved good and the proceeds donated to the Sayap Ibu Foundation Jakarta. This activity was intended to direct the mindset officer that the goods that are not used can produce more meaningful values for those in need.
Ta’jil Sharing • Cab Gorontalo June 13, 2016 was attended by Mr
Susatyo Wijoyo • Cab Samarinda June 17, 2016 was attended by Mr
Ade Cahyo Nugroho • Cab Pangkal Pinang June 17, 2016 was attended by
Mr Arya Suprihadi • Cab Gresik June 22, 2016 was attended by Mr
Albertus Henditrianto • Cab Palembang June 23, 2016 was attended by Mr
William Francis Indra • Cab Sukabumi June 29, 2016 was attended by Mr
Harjanto Tjitohardjojo
School bag donationHeld in Yogyakarta precisely in the tourist complex of Prambanan temple, PT Mandiri Tunas Finance (MTF) held a CSR (corporate social responsibility) in the form of “Movement Donate School bags” to commemorate National Education dated May 2, 2016, as well as the initiator and organizer RECORD MURI create a “Cars Replica of the most school bags Networks” using about 3,000 school bags. After record an MURI award, the bags will be donated to all elementary schools (SD) in Cangkringan, Sleman, Yogyakarta.
Go to the cinema with orphans in June 2016As a form of social care to orphans, we are always committed closer to them. In June 2016, MTF invite orphans to watch the educational film which was followed by hundreds of orphans.
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Healthy Action Alert: Free medication and health checks (29 September 2016)Health is important to people’s lives. Health so is expensive. Medical and medicines fees are growing about the impact on people’s inability to obtain adequate health facilities. MTF’s commitment to support government programs to bring people of Indonesia are healthy, so we, on 29 September 2016, did the Healthy Action Alert i.e. free treatment in Cilegon which cooperate with Rumah Zakat Indonesia.
The Board of Director TeachingMTF’s commitment to participate and educate the children of the nation, so in 2016 we took part in the financial literacy program in cooperation with the FSA with the Board of Directors of Teaching conducted in various universities in Indonesia, including the University of Balikpapan, University of Bengkulu, Jakarta State University and the University of Lampung. These activities are welcomed by the academics and financial practitioners and was attended by hundreds of students.
Results of Customer Satisfaction Survey
2016 has done a survey of customer satisfaction with a score of 81% which includes the category of Good.
Implementation of the survey deployed in all branches through a questionnaire, email blast branch, responds the collection and tabulation of data and analysis. The survey was conducted was motivated by rivalry between finance and the importance of quality of service with the aim of measuring the customer satisfaction index, determine the factors that influence and give recommendations.
Corporate Social Responsibility Towards Customers
The Policy of Customer Opinion Handling
The Company is committed to providing facilities for consumers to convey information, questions, and complaints about the product.
Complaint management process is integrated with the results of the focus on the customer so that no repetition occurs complaints of the types of complaints that have been resolved. The
No Speaker Theme Activity Implementation Date Location Number of participants
1 Ignatius Susatyo Wijoyo More Knowing About Finance Company
Public Lecture March 31, 2016 University of Balikpapan
150
2 Ade Cahyo Nugroho More Knowing About Finance Company
Public Lecture April 1, 2016 University of Bengkulu
200
3 Harjanto Tjitohardjojo More Knowing About Finance Company
Public Lecture October 7, 2016 University Negeri Jakarta
150
4 Arya Suprihadi More Knowing About Finance Company
Public Lecture November 25, 2016 University of Lampung
200
results of analysis and evaluation are the basis for improvement of work processes and systems work in the MTF. The communication media used to support ease and smooth communication between the MTF and customers
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PTMandiriTunasFinance Laporankeuangantanggal31Desember2016danuntuktahunyangberakhirpadatanggaltersebutbesertalaporanauditorindependen/Financialstatementsasof31December2016andfortheyearthenendedwithindependentauditors’report
The original financial statements included herein are in Indonesian language
PT MANDIRI TUNAS FINANCE
LAPORAN KEUANGAN TANGGAL 31 DESEMBER 2016
DAN UNTUK TAHUN YANG BERAKHIR PADA TANGGAL TERSEBUT
BESERTA LAPORAN AUDITOR INDEPENDEN
PT MANDIRI TUNAS FINANCE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2016
AND FOR THE YEAR THEN ENDED WITH INDEPENDENT AUDITORS’ REPORT
Daftar Isi Table of Contents
Halaman/ Page Laporan Auditor Independen Independent Auditors’ Report Laporan Posisi Keuangan .............................................. 1-2 ...................................... Statement of Financial Position Laporan Laba Rugi dan Penghasilan Statement of Profit or Loss and Komprehensif Lain .................................................. 3 ................................... Other Comprehensive Income Laporan Perubahan Ekuitas ........................................... 4 ..................................... Statement of Changes in Equity Laporan Arus Kas ........................................................... 5-6 ............................................... Statement of Cash Flows Catatan atas Laporan Keuangan ................................... 7-97 ................................. Notes to the Financial Statements ***************************
The original financial statements included herein are in Indonesian language.
Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan
secara keseluruhan.
The accompanying notes to the financial statements form an integral part of these financial statements
taken as a whole.
1
PT MANDIRI TUNAS FINANCE LAPORAN POSISI KEUANGAN
Tanggal 31 Desember 2016 (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE STATEMENT OF FINANCIAL POSITION
As of 31 December 2016 (Expressed in millions of Rupiah,
unless otherwise stated) 31 Desember/31 December
Catatan/ Notes 2016 2015
ASET ASSETS 2c,2e,2f Kas dan setara kas 4,25,26 Cash and cash equivalents Kas 24.074 19.938 Cash on hand Kas pada bank Cash in banks
Pihak ketiga 21.483 3.187 Third parties Pihak berelasi 2r,4.24a 212.337 68.841 Related parties
257.894 91.966 2c,2d,2g,5, Piutang pembiayaan konsumen 25,26,27 Consumer financing receivables Pihak ketiga 9.956.989 8.148.026 Third parties Pihak berelasi 2r,5,24a 10.532 5.886 Related parties
9.967.521 8.153.912 Dikurangi: cadangan kerugian Less: allowance for penurunan nilai 2i (298.650) (270.477) impairment losses
9.668.871 7.883.435 2c,2d,2h,6, Piutang sewa pembiayaan 25,26 Financial leases receivable Pihak ketiga 834.483 604.150 Third parties
Dikurangi: cadangan kerugian Less: allowance for penurunan nilai 2i (4.538) (5.791) impairment losses
829.945 598.359 Piutang lain-lain 2c,7,25,26 Other receivables Pihak ketiga 69.420 76.923 Third parties Pihak berelasi 2r,7,24a 274.585 388.421 Related parties
344.005 465.344 Dikurangi: cadangan kerugian Less: allowance for penurunan nilai 2i (785) (785) impairment losses
343.220 464.559 Aset pajak tangguhan 2l,8d 23.079 19.907 Deferred tax assets Tagihan kelebihan pajak 8a 65.538 - Claims for tax refund Fixed assets Aset tetap (net of accumulated (setelah dikurangi akumulasi depreciation of Rp80,059 and penyusutan masing-masing Rp62,288 as of sebesar Rp80.059 dan Rp62.288 31 December 2016 and pada tanggal 31 Desember 2016 31 December 2015, dan 31 Desember 2015) 2k,9 141.322 102.852 respectively) 2c,2j,10, Aset lain-lain 25,26,27 Other assets Pihak ketiga 73.061 41.081 Third parties Pihak berelasi 2r,10,24a 1.132 835 Related parties
TOTAL ASET 11.404.062 9.202.994 TOTAL ASSETS
The original financial statements included herein are in Indonesian language.
Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan
secara keseluruhan.
The accompanying notes to the financial statements form an integral part of these financial statements
taken as a whole.
2
PT MANDIRI TUNAS FINANCE LAPORAN POSISI KEUANGAN
(lanjutan) Tanggal 31 Desember 2016
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE STATEMENT OF FINANCIAL POSITION
(continued) As of 31 December 2016
(Expressed in millions of Rupiah, unless otherwise stated)
31 Desember/31 December
Catatan/ Notes 2016 2015
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY Utang usaha 2c,11,25,26 593.910 390.262 Trade payables Utang lain-lain 2c,12,25,26 Other payables Pihak ketiga 150.048 110.205 Third parties Pihak berelasi 2r,12,24b,26 106.733 44.803 Related parties Utang pajak kini 2l,8b 13.594 20.462 Current tax liabilities Beban yang masih harus dibayar 2c,13,25,26 Accrued expenses Pihak ketiga 86.794 91.142 Third parties Pihak berelasi 2r,13,24b 3.333 4.933 Related parties Pinjaman bank 2c,2d,14,25,26 Bank loans Pihak ketiga 3.293.873 3.412.510 Third parties Pihak berelasi 2r,14,24b 2.327.619 2.088.833 Related parties
5.621.492 5.501.343 Biaya provisi yang belum diamortisasi (12.340) (14.753) Unamortized provision cost
5.609.152 5.486.590 2c,2d,2q, Surat berharga yang diterbitkan 15,25,26 Securities issued Pihak ketiga 2.244.000 1.217.250 Third parties Pihak berelasi 2r,15,24b 1.081.000 632.750 Related parties
3.325.000 1.850.000 Beban emisi yang belum diamortisasi (8.766) (4.590) Unamortized issuance cost
3.316.234 1.845.410 Liabilitas imbalan kerja karyawan 2m,16 50.135 36.549 Employee benefits obligation
TOTAL LIABILITAS 9.929.933 8.030.356 TOTAL LIABILITIES
EKUITAS EQUITY Modal saham Share capital Authorized capital - Modal dasar - 10.000.000.000 10,000,000,000 ordinary lembar saham biasa dengan shares with a par value nilai nominal Rp100 (nilai penuh) of Rp100 (full amount) per saham per share Modal ditempatkan dan disetor Issued and fully paid up penuh - 2.500.000.000 lembar capital - 2,500,000,000 saham 2n,17 250.000 250.000 ordinary shares Pengukuran kembali atas liabilitas imbalan Remeasurement of kerja karyawan 2m,16 (14.695) (11.496) employee benefits obligation Saldo laba Retained earnings Sudah ditentukan penggunaannya 18 50.000 50.000 Appropriated Belum ditentukan penggunaannya 1.188.824 884.134 Unappropriated
TOTAL EKUITAS 1.474.129 1.172.638 TOTAL EQUITY
TOTAL TOTAL LIABILITAS DAN EKUITAS 11.404.062 9.202.994 LIABILITIES AND EQUITY
The original financial statements included herein are in Indonesian language.
Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan
secara keseluruhan.
The accompanying notes to the financial statements form an integral part of these financial statements
taken as a whole.
3
PT MANDIRI TUNAS FINANCE LAPORAN LABA RUGI DAN PENGHASILAN
KOMPREHENSIF LAIN Untuk Tahun yang Berakhir pada Tanggal
31 Desember 2016 (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME For the Year Ended 31 December 2016
(Expressed in millions of Rupiah, unless otherwise stated)
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
Catatan/ Notes 2016 2015
PENDAPATAN 2s REVENUE Pembiayaan konsumen 2r,19a,24c 1.772.265 1.423.223 Consumer financing Sewa pembiayaan 19b 92.307 99.641 Financial lease Bunga 2r,19c,24c 10.099 7.672 Interest Lain-lain - neto 2r,19d,24c 574.598 456.996 Others - net
Total pendapatan 2.449.269 1.987.532 Total revenue
BEBAN 2s EXPENSES Beban keuangan 2r,20,24d (921.263) (703.121) Financial charges Gaji dan tunjangan 2r,21,24d (342.088) (304.698) Salaries and benefits Umum dan administrasi 2r,22,24d (309.840) (279.747) General and administration Penyisihan kerugian penurunan nilai: Provision for impairment losses: Pembiayaan konsumen 2c,2i,5 (426.997) (291.487) Consumer financing Sewa pembiayaan 2c,2i,6 (196) 2.356 Financial leases Piutang lain-lain 2c,2i,7 - 9 Other receivables
Total beban (2.000.384) (1.576.688) Total expenses
LABA SEBELUM BEBAN INCOME BEFORE PAJAK FINAL DAN FINAL TAX AND PAJAK PENGHASILAN 448.885 410.844 INCOME TAX EXPENSE Beban pajak final 2l (2.020) (1.534) Final tax expense
LABA SEBELUM BEBAN INCOME BEFORE PAJAK PENGHASILAN 446.865 409.310 INCOME TAX EXPENSE BEBAN PAJAK PENGHASILAN 2l,8c (111.495) (102.510) INCOME TAX EXPENSE
LABA TAHUN BERJALAN 335.370 306.800 INCOME FOR THE YEAR
PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVE LAIN INCOME Pos yang tidak akan Item that will not be direklasifikasi ke laba rugi: reclassified to profit or loss: Pengukuran kembali atas liabilitas imbalan kerja Remeasurement of karyawan 2m,16 (4.266) (7.221) employee benefits obligation Pajak penghasilan terkait 1.067 1.805 Income tax effect
Penghasilan komprehensif lain - Other comprehensive income - setelah pajak (3.199) (5.416) net of tax
TOTAL PENGHASILAN KOMPREHENSIF TOTALCOMPREHENSIVE TAHUN BERJALAN 332.171 301.384 INCOME FOR THE YEAR
LABA PER SAHAM DASAR BASIC EARNINGS PER SHARE (Rupiah penuh) 2p,23 134 123 (Full amount)
The original financial statements included herein are in Indonesian language.
Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan
secara keseluruhan.
The accompanying notes to the financial statements form an integral part of these financial statements
taken as a whole.
4
PT MANDIRI TUNAS FINANCE LAPORAN PERUBAHAN EKUITAS
Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE STATEMENT OF CHANGES IN EQUITY
For the Year Ended 31 December 2016
(Expressed in millions of Rupiah, unless otherwise stated)
Pengukuran kembali atas liabilitas Saldo laba/ imbalan kerja Retained earnings karyawan/ Remeasurement Sudah Belum of employee ditentukan ditentukan Catatan/ Modal saham/ benefits penggunaannya/ penggunaannya/ Total Ekuitas/ Notes Share capital obligation Appropriated Unappropriated Total Equity
Saldo 31 Desember 2014 250.000 (6.080) 50.000 600.733 894.653 Balance 31 December 2014 Pengukuran kembali atas Remeasurement of employee liabilitas imbalan kerja benefits obligation - karyawan - setelah pajak 2m,16 - (5.416) - - (5.416) net of tax Laba tahun berjalan 2015 - - - 306.800 306.800 Income for the year 2015 Dividen yang dibayarkan 2o,18 - - - (23.399) (23.399) Dividens paid
Saldo 31 Desember 2015 250.000 (11.496) 50.000 884.134 1.172.638 Balance 31 December 2015 Pengukuran kembali atas Remeasurement of employee liabilitas imbalan kerja benefits obligation - karyawan - setelah pajak 2m,16 - (3.199) - - (3.199) net of tax Laba tahun berjalan 2016 - - - 335.370 335.370 Income for the year 2016 Dividen yang dibayarkan 2o,18 - - - (30.680) (30.680) Dividends paid
Saldo 31 Desember 2016 250.000 (14.695) 50.000 1.188.824 1.474.129 Balance 31 December 2016
The original financial statements included herein are in Indonesian language.
Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan
secara keseluruhan.
The accompanying notes to the financial statements form an integral part of these financial statements
taken as a whole.
5
PT MANDIRI TUNAS FINANCE LAPORAN ARUS KAS
Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE STATEMENT OF CASH FLOWS
For the Year Ended 31 December 2016
(Expressed in millions of Rupiah, unless otherwise stated)
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
Catatan/ Notes 2016 2015
ARUS KAS DARI CASH FLOWS FROM AKTIVITAS OPERASI OPERATING ACTIVITIES Penerimaan kas dari konsumen: Cash received from customers: Pembiayaan konsumen 26.126.969 20.233.500 Consumer financing Sewa pembiayaan 501.965 552.175 Financial leases Bunga 10.132 7.682 Interest Pendapatan penalti 39.418 33.724 Late payment penalties Penerimaan dari piutang Recovery from yang telah dihapusbukukan 55.179 40.955 written-off receivables Premi asuransi 1.511.084 1.361.802 Insurance premiums Pengeluaran kas untuk: Cash disbursements for: Pembayaran fasilitas Repayments of joint pembiayaan bersama (7.815.580) (3.700.664) financing facilities Pembayaran kepada penyalur kendaraan (19.091.556) (18.043.198) Payments to car dealers Pembayaran beban keuangan (898.869) (699.881) Payments for financial charges Pembayaran pajak penghasilan (122.487) (99.836) Payments for income tax Pembayaran tagihan kelebihan pajak (65.538) - Payments for claim for tax refund Pembayaran gaji dan Payments for tunjangan (334.886) (286.253) salaries and allowances Pembayaran beban Payments for general and umum dan administrasi (326.408) (271.831) administrative expenses Pembayaran kepada perusahaan Payments to insurance asuransi (919.325) (831.248) companies
Kas neto yang digunakan Net cash used in untuk aktivitas operasi (1.329.902) (1.703.073) operating activities
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTASI INVESTING ACTIVITIES Proceeds from sales of Hasil penjualan aset tetap 9 89 20 fixed assets Pembelian aset tetap 9 (59.357) (45.994) Purchased of fixed assets
Kas neto yang digunakan Net cash used in untuk aktivitas investasi (59.268) (45.974) investing activities
The original financial statements included herein are in Indonesian language.
Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan
secara keseluruhan.
The accompanying notes to the financial statements form an integral part of these financial statements
taken as a whole.
6
PT MANDIRI TUNAS FINANCE LAPORAN ARUS KAS
(lanjutan) Untuk Tahun yang Berakhir pada Tanggal
31 December 2016 (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE STATEMENT OF CASH FLOWS
(continued) For the Year Ended 31 December 2016
(Expressed in millions of Rupiah, unless otherwise stated)
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
Catatan/ Notes 2016 2015
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM PENDANAAN FINANCING ACTIVITIES Penerimaan pinjaman bank 9.055.000 7.663.493 Proceeds from bank loans Penerimaan utang obligasi 1.900.000 750.000 Proceeds from bonds issued Pembayaran pinjaman bank (8.934.851) (6.467.954) Repayment of bank loans Pembayaran surat berharga yang diterbitkan 15 (425.000) (350.000) Repayment of securities issued Pembayaran beban emisi Payment of securities surat berharga 15 (9.371) (4.577) issuance costs Pembayaran dividen kas 18 (30.680) (23.399) Payment of cash dividends
Kas neto yang diperoleh dari Net cash provided by aktivitas pendanaan 1.555.098 1.567.563 financing activities
Kenaikan (penurunan) neto Net increase (decrease) kas dan setara kas 165.928 (181.484) in cash and cash equivalents Kas dan setara kas pada Cash and cash equivalents awal tahun 91.966 273.450 at beginning of year
Kas dan setara kas pada Cash and cash equivalents akhir tahun 257.894 91.966 at end of year
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
7
1. INFORMASI UMUM 1. GENERAL INFORMATION
PT Mandiri Tunas Finance (“Perseroan”) didirikan dengan nama PT Tunas Financindo Corporation pada tanggal 17 Mei 1989 berdasarkan Akta Notaris Misahardi Wilamarta, S.H., Notaris di Jakarta, No. 262. Akta pendirian ini disahkan oleh Menteri Kehakiman dalam Surat Keputusan No. C2-4868.HT.01.01.TH’89 tanggal 1 Juni 1989 serta diumumkan dalam Lembaran Berita Negara Republik Indonesia No. 57, Tambahan No. 1369 tanggal 18 Juli 1989. Pada tanggal 18 Agustus 2000, Perseroan melakukan perubahan nama menjadi PT Tunas Financindo Sarana berdasarkan Akta Notaris Adam Kasdarmadji S.H., M.H., Notaris di Jakarta No. 49. Akta perubahan ini disetujui oleh Menteri Hukum dan Perundang-Undangan melalui Surat Keputusan No. C-21195HT.01.04.TH2000 tanggal 22 September 2000. Pada tanggal 30 November 2007, Perseroan melakukan penyesuaian Anggaran Dasar terhadap Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas berdasarkan Akta Notaris Herawati, S.H., Notaris di Jakarta, No. 94. Akta tersebut telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. AHU-06708.AH.01.02.Tahun 2008 tanggal 12 Februari 2008.
PT Mandiri Tunas Finance (the “Company”) was incorporated with the name of PT Tunas Financindo Corporation on 17 May 1989 based on Notarial Deed of Misahardi Wilamarta, S.H., Notary in Jakarta, No. 262. The Company’s Articles of Association were approved by the Ministry of Justice in its Decision Letter No. C2-4868.HT.01.01.TH’89 dated 1 June 1989 and were published in the State Gazette of the Republic of Indonesia No. 57, Supplement No. 1369 dated 18 July 1989. On 18 August 2000, the Company changed its name to PT Tunas Financindo Sarana based on Notarial Deed of Adam Kasdarmadji S.H., M.H., Notary in Jakarta No. 49. This deed was approved by the Minister of Law and Regulation in its Decision Letter No. C-21195HT.01.04.TH2000 dated 22 September 2000. On 30 November 2007, The Company complied its Articles of Association to The Law Number 40 of 2007 concerning Limited Liability Company based on Notarial Deed Herawati, S.H., Notary in Jakarta, No. 94. This Deed approved by Minister of Law and Human Rights in Decision Letter No. AHU-06708.AH.01.02.Tahun 2008 dated 12 February 2008.
Pada tanggal 26 Juni 2009, Perseroan mengubah nama Perseroan menjadi PT Mandiri Tunas Finance berdasarkan perubahan Anggaran Dasar sesuai dengan Akta Notaris Dr. Irawan Soerodjo, S.H.,Msi., Notaris di Jakarta, No. 181. Anggaran Dasar Perseroan telah mengalami beberapa kali perubahan, perubahan terakhir dengan Akta, No. 23 tanggal 24 Februari 2016 yang dibuat dihadapan Lenny Janis Ishak, S.H., Notaris di Jakarta. Perubahan ini telah diterima dan dicatatkan dalam database Sistem Administrasi Badan Hukum Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia No. AHU-AH.01.03-0032175 tanggal 17 Maret 2016.
On 26 June 2009, the Company changed its name to PT Mandiri Tunas Finance based on the amendment of the Articles of Association by the Notarial Deed of Dr. Irawan Soerodjo, S.H.,Msi., Notary in Jakarta, No. 181. The Articles of Association have been amended from time to time, the latest amendment by the Deed of No. 23 dated 24 February 2016 made before Lenny Janis Ishak, S.H.,Notary in Jakarta. This deed was approved by the Minister of Laws and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0032175 dated 17 March 2016.
Perubahan susunan anggota Dewan Komisaris yang terakhir dilakukan pada tanggal 6 Februari 2012, sebagaimana ternyata dalam Akta No. 01 yang dibuat oleh Emi Susilowati, S.H., Notaris di Jakarta, yang penerimaan pemberitahuan perubahan data Perseroannya telah diterima dan dicatat di dalam database sistem administrasi Badan Hukum di Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia No. AHU-AH.01.10-20323 tanggal 6 Juni 2012. Perubahan susunan Direksi yang terakhir dilakukan pada tanggal 30 September 2016, sebagaimana ternyata dalam Akta No. 15 yang dibuat oleh Lenny Janis Ishak, S.H., Notaris di Jakarta, yang penerimaan pemberitahuan perubahan data Perseroannya telah diterima dan dicatat di dalam database sistem administrasi Badan Hukum di Kementrian Hukum dan Hak Asasi Manusia Republik Indonesia No. AHU-AH.01.03-0086378 tanggal 5 Oktober 2016.
The latest change in the composition of the Board of Commissioners as stated on the Deed No. 01 dated 6 February 2012, was made before Emi Susilowati, S.H., Notary in Jakarta, which the notification receipt of the change in corporate data has been received and recorded in the database administration system of legal entity in the Ministry of Laws and Human Rights of the Republic of Indonesia No. AHU-AH.01.10-20323 dated 6 June 2012. The latest change in the composition of Directors conducted on 30 September 2016 as stated on the Deed No. 15, was made before Lenny Janis Ishak, S.H., Notary in Jakarta, which the notification receipt of the change in the corporate data has been received and recorded in the database administration system of legal entity in the Ministry of Laws and Human Rights of the Republic of Indonesia No. AHU-AH.01.03-0086378 dated 5 October 2016.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
8
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
Kegiatan komersial Perseroan dimulai pada tahun 1989. Perseroan memperoleh ijin usaha sebagai Perseroan pembiayaan dalam bidang sewa guna usaha, anjak piutang dan pembiayaan konsumen dari Menteri Keuangan berdasarkan Surat Keputusan No. 1021/KMK.013/1989 tanggal 7 September 1989, sebagaimana diubah dengan Surat Keputusan No. 54/KMK.013/1992 tanggal 15 Januari 1992 dan No. 19/KMK.017/2001 tanggal 19 Januari 2001 dan terakhir diubah dengan Surat Keputusan Menteri Keuangan No. KEP-352/KM.10/2009 tanggal 29 September 2009. Saat ini, Perseroan bergerak dalam kegiatan usaha pembiayaan investasi, modal kerja, multiguna dan kegiatan usaha lain berdasarkan persetujuan Otoritas Jasa Keuangan.
The Company commenced commercial activities in 1989. The Company obtained a business license to operate in leasing, factoring and consumer financing from the Ministry of Finance in its Decision Letter No. 1021/KMK.013/1989 dated 7 September 1989, as amended by the Decision Letter No. 54/KMK.013/1992 dated 15 January 1992 and No. 19/KMK.017/2001 dated 19 January 2001 and the latest amendment by the Ministry of Finance Decision Letter No. KEP-352/KM.10/2009 dated 29 September 2009. Currently, the Company is engaged investing, capitalize financing, multipurpose financing and other financing base on approval Otoritas Jasa Keuangan.
Perseroan berdomisili di Jakarta Pusat dan mempunyai 91 kantor cabang dan 20 kantor selain kantor cabang yang berlokasi dibeberapa tempat di Indonesia.
The Company is domiciled in Central Jakarta and has 91 branches and 20 other branches that located throughout Indonesia.
Pada tanggal 6 Februari 2009, PT Tunas Ridean Tbk. dan PT Tunas Mobilindo Parama mengalihkan kepemilikan sahamnya di Perseroan sejumlah masing-masing 650.000.000 lembar saham dan 625.000.000 lembar saham atau sebesar 51% dari total saham ditempatkan dan disetor penuh kepada PT Bank Mandiri (Persero) Tbk. dengan akta notaris Dr. A. Partomuan Pohan, S.H., LL.M., No. 8 tanggal 6 Februari 2009.
On 6 February 2009, PT Tunas Ridean Tbk. and PT Tunas Mobilindo Parama have transferred their ownership in the Company amounting to 650,000,000 shares and 625,000,000 shares, respectively, representing 51% of total issued and fully paid-up shares, to PT Bank Mandiri (Persero) Tbk. by the Notarial Deed of Dr. A. Partomuan Pohan, S.H., LL.M., No. 8 dated 6 February 2009.
Perseroan menerbitkan dan mendaftarkan Obligasi Mandiri Tunas Finance ke Bursa Efek Indonesia sebagai berikut:
The Company issued and registered Mandiri Tunas Finance Bonds on the Indonesian Stock Exchange as follows:
Obligasi/Bonds Tanggal terbit/Issue date Nilai nominal/Nominal value
I 29 Mei/May 2003 500.000 II 22 Juni/June 2004 350.000 III 8 JuliJuly 2005 350.000 IV 22 Februari/February 2007 600.000 V 20 Februari/February 2008 600.000 VI 6 Mei/May 2011 600.000
Berkelanjutan I tahap I/ Continuing Bonds I Phase I
5 Juni/June 2013 500.000
Berkelanjutan I tahap II/ Continuing Bonds I Phase II
23 Mei/May 2014 600.000
Berkelanjutan I tahap III/ Continuing Bonds I Phase III
9 Juni/June 2015 150.000
Berkelanjutan II tahap I/ Continuing Bonds II Phase I
18 Desember/December 2015 600.000
Berkelanjutan II tahap II/ Continuing Bonds II PhaseII
1 Juni/June 2016 1.400.000
Berkelanjutan III tahap I/ Continuing Bonds III Phase I
7 Oktober/October 2016
500.000
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
9
1. INFORMASI UMUM (lanjutan)
Pada tanggal 20 Mei 2011, Perseroan telah menerbitkan dan mendaftarkan Obligasi Mandiri Tunas Finance VI tahun 2011 (“Obligasi VI”) ke Bursa Efek Indonesia. Penerbitan Obligasi VI tahun 2011 serta Penunjukan Wali Amanat dilakukan sesuai dengan Perjanjian No. 29 tanggal 25 Februari 2011 jo. Add.1 No. 7 tanggal 5 April 2011, jo. Add II No. 16 tanggal 11 April 2011, jo. Add III No. 1 tanggal 2 Mei 2011 yang dibuat antara Perseroan dengan PT Bank Mega Tbk., yang bertindak selaku Wali Amanat pemegang Obligasi VI.
1. GENERAL INFORMATION (continued) On 20 May 2011, the Company issued and registered Bonds Mandiri Tunas Finance VI (“Bonds VI”) on Indonesia Stock Exchange. The issuance of Bonds VI 2011 and Trusteeship Agreements No. 29 dated 25 February 2011 jo. Add.1 No. 7 dated 5 April 2011, jo. Add II No. 16 dated 11 April 2011, jo. Add III No. 1 dated 2 Mei 2011 was signed by the Company and PT Bank Mega Tbk., as the Trustee for the Bonds VI holders.
Pada tanggal 7 Juni 2013, Perseroan telah menerbitkan dan mendaftarkan Obligasi Berkelanjutan I Tahap I Tahun 2013 (”Obligasi Berkelanjutan I Tahap I”) ke Bursa Efek Indonesia. Penerbitan Obligasi Berkelanjutan I Tahap I ini serta Penunjukan Wali Amanat dilakukan berdasarkan Akta Perjanjian Perwaliamanatan No. 29 tanggal 22 Maret 2013, jo. Addendum I No. 61 tanggal 17 April 2013, jo Addendum II No. 47 tanggal 20 Mei 2013 yang dibuat antara Perseroan dengan PT Bank Mega Tbk., yang bertindak selaku Wali Amanat pemegang Obligasi Berkelanjutan I Tahap I.
On 7 June 2013, the Company issued and registered Mandiri Tunas Finance Continuing Bonds I Phase I Year 2013 (“Continuing Bonds I Phase I”) on the Indonesia Stock Exchange. The issuance of Continuing Bonds I Phase I and Trusteeship Agreements No. 29 dated 22 March 2013, jo. Addendum I No. 61 dated 17 April 2013, jo. Addendum II No. 47 dated 20 May 2013 was signed by the Company and PT Bank Mega Tbk., as the Trustee for the Continuing Bonds I Phase I.
Pada tanggal 26 Mei 2014, Perseroan telah menerbitkan dan mendaftarkan Obligasi Berkelanjutan I Tahap II Tahun 2014 (”Obligasi Berkelanjutan I Tahap II”) ke Bursa Efek Indonesia. Penerbitan Obligasi Berkelanjutan I Tahap II ini serta Penunjukan Wali Amanat dilakukan berdasarkan Akta Perjanjian Perwaliamanatan No. 5 tanggal 2 Mei 2014 yang dibuat antara Perseroan dengan PT Bank Mega Tbk., yang bertindak selaku Wali Amanat pemegang Obligasi Berkelanjutan I Tahap II.
On 26 May 2014, the Company issued and registered Mandiri Tunas Finance Continuing Bonds I Phase II Year 2014 (“Continuing Bonds I Phase II”) on the Indonesia Stock Exchange. The issuance of Continuing Bonds I Phase II and appoinment of Trustee based on Trusteeship Agreements No. 5 dated 2 May 2014 was signed by the Company and PT Bank Mega Tbk., as the Trustee for the Continuing Bonds I Phase II.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
10
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
Pada tanggal 9 Juni 2015, Perseroan telah menerbitkan dan mendaftarkan Obligasi Berkelanjutan I Tahap III Tahun 2015 (”Obligasi Berkelanjutan I Tahap III”) ke Bursa Efek Indonesia. Penerbitan Obligasi Berkelanjutan I Tahap III ini serta Penunjukan Wali Amanat dilakukan berdasarkan Akta Perjanjian Perwaliamanatan No. 29 tanggal 19 Mei 2015 yang dibuat antara Perseroan dengan PT Bank Mega Tbk., yang bertindak selaku Wali Amanat pemegang Obligasi Berkelanjutan I Tahap III.
On 9 June 2015, the Company issued and registered Mandiri Tunas Finance Continuing Bonds I Phase III Year 2015 (“Continuing Bonds I Phase III”) on the Indonesia Stock Exchange. The issuance of Continuing Bonds I Phase III and appoinment of Trustee based on Trusteeship Agreements No. 29 dated 19 May 2015 was signed by the Company and PT Bank Mega Tbk., as the Trustee for the Continuing Bonds I Phase III.
Pada tanggal 18 Desember 2015, Perseroan telah menerbitkan dan mendaftarkan Obligasi Berkelanjutan II Tahap I Tahun 2015 (”Obligasi Berkelanjutan II Tahap I”) ke Bursa Efek Indonesia. Penerbitan Obligasi Berkelanjutan II Tahap I ini serta Penunjukan Wali Amanat dilakukan berdasarkan Akta Perjanjian Perwaliamanatan No. 7 tanggal 5 Oktober 2015 yang dibuat antara Perseroan dengan PT Bank Mega Tbk., yang bertindak selaku Wali Amanat pemegang Obligasi Berkelanjutan II Tahap I. Pada tanggal 1 Juni 2016, Perseroan telah menerbitkan dan mendaftarkan Obligasi Berkelanjutan II Tahap II Tahun 2016 (”Obligasi Berkelanjutan II Tahap II”) ke Bursa Efek Indonesia. Penerbitan Obligasi Berkelanjutan II Tahap II ini serta Penunjukan Wali Amanat dilakukan berdasarkan Akta Perjanjian Perwaliamanatan No. 28 tanggal 12 Mei 2016, yang dibuat antara Perseroan dengan PT Bank Mega Tbk, yang bertindak selaku Wali Amanat Pemegang Obligasi Berkelanjutan II Tahap II. Pada tanggal 7 Oktober 2016, Perseroan telah menerbitkan dan mendaftarkan Obligasi Berkelanjutan III Tahap I Tahun 2016 (”Obligasi Berkelanjutan III Tahap I”) ke Bursa Efek Indonesia. Penerbitan Obligasi Berkelanjutan III Tahap I ini serta Penunjukan Wali Amanat dilakukan berdasarkan Akta Perjanjian Perwaliamanatan No. 2 tanggal 1 Agustus 2016 yang dibuat antara Perseroan dengan PT Bank Mega Tbk, yang bertindak selaku Wali Amanat pemegang Obligasi Berkelanjutan III Tahap I.
On 18 December 2015, the Company issued and registered Mandiri Tunas Finance Continuing Bonds II Phase I Year 2015 (“Continuing Bonds II Phase I”) on the Indonesia Stock Exchange. The issuance of Continuing Bonds II Phase I and Trusteeship Agreements No. 7 dated 5 October 2015 was signed by the Company and PT Bank Mega Tbk., as the Trustee for the Continuing Bonds II Phase I. On 1 June 2016, the Company issued and registered Mandiri Tunas Finance Continuing Bonds II Phase II Year 2016 (“Continuing Bonds II Phase II”) on the Indonesia Stock Exchange. The issuance of Continuing Bonds II Phase II and Trusteeship Agreements No. 28 dated 12 May 2016, was signed by the Company and PT Bank Mega Tbk., as the Trustee for the Continuing Bonds II Phase II. On 7 October 2016, the Company issued and registered Mandiri Tunas Finance Continuing Bonds III Phase I Year 2016 (“Continuing Bonds III Phase I”) on the Indonesia Stock Exchange. The issuance of Continuing Bonds III Phase I and appoinment of Trustee based on Trusteeship Agreements No. 2 dated 1 August 2016 was signed by the Company and PT Bank Mega Tbk., as the Trustee for the Continuing Bonds III Phase I.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
11
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
Susunan anggota Dewan Komisaris, Direksi dan Komite Audit Perseroan adalah sebagai berikut:
The members of the Company’s Board of Commissioners, Directors and Audit Committee are as follows:
31 Desember/ 31 Desember/ December 2016 December 2015
Dewan Komisaris Board of Commissioners Komisaris Utama Anton Setiawan Anton Setiawan President Commissioner Komisaris Sarastri Baskoro Sarastri Baskoro Commissioner Komisaris Independen Hanifah Purnama Hanifah Purnama Independent Commissioner Direksi Directors Ignatius Susatyo Ignatius Susatyo Direktur Utama Wijoyo Wijoyo President Director Direktur Arya Suprihadi Ade Cahyo Nigroho Director Direktur Harjanto Tjitohardjojo Harjanto Tjitohardjojo Director
Komite Audit Audit Committee Ketua Hanifah Purnama Hanifah Purnama Chairman Anggota Sunardi Edirianto Sunardi Edirianto Member Rodion Wikanto Rodion Wikanto Anggota Njotowidjojo Njotowidjojo Member
Pembentukan Komite Audit Perseroan telah sesuai dengan Peraturan Otoritas Jasa Keuangan No. 55/POJK.04/2015 tanggal 23 Desember 2015.
The appointment of the Company’s Audit Committee in compliance with Otoritas Jasa Keuangan Regulation No. 55/POJK.04/2015 dated 23 December 2015.
Sekretaris Perusahaan Perseroan dan Kepala Divisi Audit Internal Perseroan adalah sebagai berikut:
The Company’s Corporate Secretary and the Head of Internal Audit Division are as follows:
31 Desember / 31 Desember / December 2016 December 2015
Sekretaris Perusahaan Nenny Lasmanawati Hengki Heriandono Corporate Secretary Kepala Divisi Audit Internal Dayu Rasmini Saiful Huda Head of Internal Audit Division
Pembentukan Sekretaris Perusahaan Perseroan telah sesuai dengan Peraturan Otoritas Jasa Keuangan No. 35/POJK.04/2014 tanggal 8 Desember 2014.
Establishment of the Company’s Corporate Secretary is in compliance with Otoritas Jasa Keuangan Regulation No. 35/POJK.04/2014 dated 8 December 2014.
Pembentukan Divisi Audit Internal Perseroan telah sesuai dengan Peraturan Otoritas Jasa Keuangan No. 56/POJK.04/2015 tanggal 23 Desember 2015.
Establishment of the Company’s Internal Audit Division is in compliance with Otoritas Jasa Keuangan Regulation No. 56/POJK.04/2015 dated 23 December 2015.
Pada tanggal 31 Desember 2016, Perseroan memiliki 3.577 karyawan (31 Desember 2015: 3.725 karyawan) (tidak diaudit).
As of 31 December 2016, the Company has 3,577 employees (31 December 2015: 3,725 employees) (unaudited).
Entitas induk langsung dan entitas induk terakhir Perseroan adalah PT Bank Mandiri (Persero) Tbk, Badan Usaha Milik Negara (BUMN) yang dimiliki oleh Pemerintah Republik Indonesia.
The direct and ultimate holding entity of the Company is PT Bank Mandiri (Persero) Tbk, state-owned company owned by the Government of the Republic of Indonesia.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
12
2. KEBIJAKAN AKUNTANSI 2. ACCOUNTING POLICIES
Kebijakan akuntansi yang signifikan, yang diterapkan dalam penyusunan laporan keuangan Perseroan adalah sebagai berikut:
The significant accounting policies, applied in the preparation of the Company’s financial statements were as follows:
a. Pernyataan kepatuhan a. Statement of compliance
Laporan keuangan telah disusun dan disajikan sesuai dengan Standar Akuntansi Keuangan di Indonesia yang diterbitkan oleh Ikatan Akuntan Indonesia (IAI) dan Peraturan Otoritas Jasa Keuangan (OJK) No. VIII.G.7 tentang “Penyajian dan Pengungkapan Laporan Keuangan Emiten atau Perseroan Publik” yang terdapat dalam Lampiran Keputusan Ketua Bapepam-LK No. KEP-347/BL/2012 tanggal 25 Juni 2012.
The financial statements have been prepared and presented in accordance with Indonesian Financial Accounting Standards as issued by the Indonesian Institute of Accountants and the Financial Service Authority (OJK) Regulation No. VIII.G.7 regarding “Emiten or Public Company’s Financial Statements Presentation and Disclosure Guidelines” as included in the Appendix of the Decision Decree of the Chairman of Bapepam-LK No. KEP-347/BL/2012 dated 25 June 2012.
b. Dasar penyusunan laporan keuangan b. Basis of preparation of the financial
statements
Laporan keuangan disusun berdasarkan konsep akrual, kecuali laporan arus kas, dan menggunakan konsep biaya historis kecuali seperti yang disebutkan dalam catatan atas laporan keuangan yang relevan.
The financial statements have been prepared on the accrual basis, except for the statement of cash flows, and using the historical cost concept of accounting, except as disclosed in the relevant notes herein.
Laporan arus kas disusun menggunakan metode langsung dan arus kas dikelompokkan atas dasar aktivitas operasi, investasi dan pendanaan. Untuk tujuan laporan arus kas, kas dan setara kas mencakup kas, kas pada bank dan deposito berjangka dengan jangka waktu jatuh tempo tiga bulan atau kurang, sepanjang tidak digunakan sebagai jaminan atas pinjaman atau dibatasi penggunaannya.
The statement of cash flows are prepared based on the direct method by classifying cash flows on the basis of operating, investing and financing activities. For the purposes of the statement of cash flows, cash and cash equivalents include cash on hand, cash in banks and time deposits with original maturity of three months or less, as long as they are not being pledged as collateral for borrowings or restricted.
Pos-pos dalam Penghasilan Komprehensif Lainnya disajikan terpisah antara akun - akun yang akan direklasifikasikan ke laba rugi dan akun - akun yang tidak akan direklasifikasikan ke laba rugi.
The items under Other Comprehensive Income (OCI) are presented separately between items to be reclassified to profit or loss and those items not to be reclassified to profit or loss.
Dalam penyusunan laporan keuangan sesuai dengan standar akuntansi keuangan Indonesia, dibutuhkan estimasi dan asumsi yang mempengaruhi: - nilai aset dan liabilitas dilaporkan dan
pengungkapan atas aset dan liabilitas kontinjensi pada tanggal laporan keuangan, dan
- jumlah pendapatan dan beban selama periode pelaporan.
The preparation of financial statements in conformity with Indonesian financial accounting standards requires the use of estimates and assumptions that affects: - the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and
- the reported amounts of revenues and expenses during the reported period.
Walaupun estimasi ini dibuat berdasarkan pengetahuan terbaik manajemen atas kejadian dan tindakan saat ini, hasil yang timbul mungkin berbeda dengan jumlah yang diestimasi semula.
Although these estimates are based on management’s best knowledge of current events and activities, actual results may differ from those estimates.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
13
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
b. Dasar penyusunan laporan keuangan (lanjutan)
b. Basis of preparation of the financial statements (continued)
Mata uang penyajian yang digunakan pada laporan keuangan adalah Rupiah, yang merupakan mata uang fungsional.
The presentation currency used in the financial statements is Indonesian Rupiah, which is the functional currency.
Seluruh angka dalam laporan keuangan ini, kecuali dinyatakan secara khusus, dibulatkan menjadi dan disajikan dalam jutaan Rupiah kecuali dinyatakan lain.
Amounts in the financial statements are rounded to and stated in millions of Rupiah unless otherwise stated.
c. Aset dan liabilitas keuangan c. Financial assets and liabilities
Aset keuangan Financial assets
Perseroan mengklasifikasikan aset keuangannya dalam kategori (i) aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi, (ii) pinjaman yang diberikan dan piutang, (iii) aset keuangan dimiliki hingga jatuh tempo, dan (iv) aset keuangan tersedia untuk dijual. Klasifikasi ini tergantung dari tujuan perolehan aset keuangan tersebut. Manajemen menentukan klasifikasi aset keuangan tersebut pada saat awal pengakuannya.
The Company classifies its financial assets in the following categories of (i) financial assets measured 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 financials assets were acquired. Management determines the classification of its financial assets at initial recognition.
Selama tahun berjalan dan pada tanggal laporan posisi keuangan, Perseroan hanya memiliki aset keuangan yang diklasifikasikan sebagai pinjaman yang diberikan dan piutang sehingga kebijakan akuntansi berkaitan dengan klasifikasi aset keuangan di luar pinjaman yang diberikan dan piutang tidak diungkapkan.
During the year and at the date of statement of financial position, the Company only has financial assets classified as loans and receivables. Therefore, the accounting policies related to classifications other than loans and receivables are not disclosed.
Pinjaman yang diberikan dan piutang Loans and receivables
Pinjaman yang diberikan dan piutang adalah aset keuangan non-derivatif dengan pembayaran tetap atau telah ditentukan dan tidak mempunyai kuotasi di pasar aktif, kecuali:
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market, other than:
• yang dimaksudkan oleh Perseroan untuk
dijual dalam waktu dekat, yang diklasifikasikan dalam kelompok diperdagangkan, serta yang pada saat pengakuan awal ditetapkan sebagai diukur pada nilai wajar melalui laporan laba rugi;
• those that the Company intends to sell immediately or in the near future, which are classified as held-for-trading, and those that the entity upon initial recognition designates as at fair value through profit or loss;
• yang pada saat pengakuan awal ditetapkan
dalam kelompok tersedia untuk dijual; atau • those that the Company upon initial
recognition designates as available-for-sale; or
• dalam hal Perseroan mungkin tidak akan
memperoleh kembali investasi awal secara substansial, kecuali yang disebabkan oleh penurunan kualitas pinjaman yang diberikan dan piutang.
• those for which the Company may not recover substantially all of its initial investment, other than because of credit deterioration and receivables.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
14
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Pinjaman yang diberikan dan piutang (lanjutan) Loans and receivables (continued)
Pada saat pengakuan awal, pinjaman yang diberikan dan piutang diakui pada nilai wajarnya ditambah biaya transaksi dan pendapatan administrasi dan selanjutnya diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.
Loans and receivables are initially recognized at fair value plus transaction costs and administration income and subsequently measured at amortized cost using the effective interest rate method.
Pinjaman yang diberikan dan piutang meliputi kas dan setara kas, piutang pembiayaan konsumen, piutang sewa pembiayaan, piutang lain-lain dan aset lain-lain (piutang karyawan, piutang bunga, setoran dalam perjalanan dan uang jaminan).
Loans and receivables consist of cash and cash equivalent, consumer financing receivables, finance lease receivables, other receivables and other assets (employee receivables, interest receivables, deposit in transit and security deposit).
Pendapatan dari aset keuangan dalam kelompok pinjaman yang diberikan dan piutang dicatat di dalam laporan laba rugi dan penghasilan komprehensif lain dan dilaporkan sebagai ”Pendapatan pembiayaan konsumen” dan ”Pendapatan sewa pembiayaan”.
Income from financial assets classified as loans and receivables is included in the statement of profit or loss and other comprehensive income and is reported as “Consumer financing income” and “Financial leases income”.
Dalam hal terjadi penurunan nilai, cadangan kerugian penurunan nilai dilaporkan sebagai pengurang dari nilai tercatat dari aset keuangan dalam kelompok pinjaman yang diberikan dan piutang, dan diakui di dalam laporan laba rugi dan penghasilan komprehensif lain sebagai “penyisihan kerugian penurunan nilai”.
In the case of impairment, allowance for impairment losses is reported as a deduction from the carrying value of the financial assets classified as loan and receivables recognized in the statement of profit or loss and other comprehensive income as “provision for impairment losses”.
Pengakuan Recognition
Perseroan menggunakan akuntansi tanggal penyelesaian untuk kontrak reguler ketika mencatat transaksi aset keuangan.
The Company uses settlement date accounting for regular way contracts when recording financial assets transactions.
Penurunan nilai dari aset keuangan Impairment of financial assets
Pada setiap tanggal laporan posisi keuangan, Perseroan mengevaluasi apakah terdapat bukti yang obyektif bahwa aset keuangan atau kelompok aset keuangan mengalami penurunan nilai. Kerugian penurunan nilai terjadi, jika dan hanya jika, terdapat bukti yang obyektif mengenai penurunan nilai tersebut sebagai akibat dari satu atau lebih peristiwa yang terjadi setelah pengakuan awal aset tersebut (peristiwa yang merugikan), dan peristiwa yang merugikan tersebut berdampak pada estimasi arus kas masa depan atas aset keuangan atau kelompok aset keuangan yang dapat diestimasi secara andal.
The Company assesses at each reporting date whether there is objective evidence that a financial asset or group of financial assets is impaired. Impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occured after the initial recognition of the asset (a “loss event”) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
15
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Penurunan nilai dari aset keuangan (lanjutan) Impairment of financial assets (continued)
Kesulitan keuangan yang dialami debitur, kemungkinan debitur akan bangkrut, atau kegagalan atau penundaan pembayaran angsuran dapat dipertimbangkan sebagai indikasi adanya penurunan nilai atas aset keuangan tersebut.
Significant financial difficulties of the debtors, probability that the debtors will bankrupt and default or delinquency in payments are considered as indicators that the financial assets are impaired.
Perseroan menentukan penurunan nilai secara individual atas aset keuangan yang signifikan secara individual, dan untuk aset keuangan yang tidak signifikan secara individual, penentuan penurunan nilai dilakukan secara kolektif.
The Company assesses impairment of financial assets individually for financial assets that are individually significant, and collectively for financial assets that are not significant individually.
Jika Perseroan menentukan tidak terdapat bukti obyektif mengenai penurunan nilai atas aset keuangan yang dinilai secara individual, maka Perseroan memasukkan aset keuangan tersebut ke dalam kelompok aset keuangan yang memiliki karakteristik risiko kredit yang serupa dan menilai penurunan nilai kelompok tersebut secara kolektif. Aset keuangan yang penurunan nilainya dinilai secara individual tidak termasuk dalam penilaian penurunan nilai secara kolektif.
If the Company determines that no objective evidence of impairment exists for individually assessed financial assets, it includes the financial assets in a group of financial assets with similar credit risk characteristic and collectively assesses them for impairment. Financial assets that are individually assessed for impairment are not included in a collective assessment of impairment.
Arus kas masa datang dari kelompok aset keuangan yang penurunan nilainya dievaluasi secara kolektif, diestimasi berdasarkan kerugian historis yang pernah dialami atas aset-aset yang memiliki karakteristik risiko kredit yang serupa dengan karakteristik risiko kredit kelompok tersebut di dalam Perseroan. Kerugian historis yang pernah dialami kemudian disesuaikan berdasarkan data terkini yang dapat diobservasi untuk mencerminkan kondisi saat ini yang tidak berpengaruh pada periode terjadinya kerugian historis tersebut, dan untuk menghilangkan pengaruh kondisi yang ada pada periode historis namun sudah tidak ada lagi saat ini.
Future cash flows from a group of financial assets that are collectively evaluated for impairment are estimated on the basis of historical loss experience for assets with credit risk characteristics similar to those in the Company. Historical loss experience is adjusted on the basis of current observable data to reflect the effects of current conditions that did not affect the period on which the historical loss experience is based and to remove the effects of conditions in the historical period that do not currently exist.
Ketika suatu piutang tidak tertagih, piutang tersebut dihapus buku dengan menjurnal balik cadangan kerugian penurunan nilai. Piutang tersebut dapat dihapus buku setelah semua prosedur yang diperlukan telah dilakukan dan jumlah kerugian telah ditentukan. Beban penurunan nilai yang terkait dengan pinjaman yang diberikan dan piutang diklasifikasikan ke dalam “cadangan kerugian penurunan nilai”.
When a receivable is uncollectible, it is written off against the related allowance for impairment losses. Such receivables are written off after all the necessary procedures have been completed and the amount of the loss has been determined. Impairment charges relating to loans and receivables are classified into “allowance for impairment losses”.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
16
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Penurunan nilai dari aset keuangan (lanjutan) Impairment of financial assets (continued)
Jika pada periode berikutnya, jumlah kerugian penurunan nilai berkurang dan pengurangan tersebut dapat dikaitkan secara obyektif pada peristiwa yang terjadi setelah penurunan nilai diakui (seperti meningkatnya peringkat piutang debitur), maka kerugian penurunan nilai yang sebelumnya diakui harus dipulihkan, dengan menyesuaikan akun cadangan kerugian penurunan nilai. Jumlah pemulihan aset keuangan diakui pada laporan laba rugi dan penghasilan komprehensif lain.
If in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized (such as an improvement in the debtor’s receivable rating), the previously recognized impairment loss is reversed by adjusting the allowance for impairment losses. The amount of the impairment reversal is recognized in the statement of profit or loss and other comprehensive income.
Penerimaan kemudian atas piutang yang telah dihapusbukukan, dikreditkan dengan menyesuaikan pada akun cadangan kerugian penurunan nilai.
Subsequent recoveries of receivable written off are credited by adjusting the allowance for impairment losses account.
Liabilitas keuangan Financial liabilities
Perseroan mengklasifikasikan liabilitas keuangan dalam kategori (i) liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi dan (ii) liabilitas keuangan yang diukur pada biaya perolehan diamortisasi.
The Company classifies its financial liabilities in the category of (i) financial liabilities measured at fair value through profit or loss and (ii) financial liabilities measured at amortized cost.
Selama tahun berjalan dan pada tanggal laporan posisi keuangan, Perseroan tidak memiliki liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi sehingga kebijakan akuntansi berkaitan dengan klasifikasi ini tidak diungkapkan.
During the year and at the date of statement of financial position, the Company does not have financial liabilities that was measured at fair value through profit or loss. Therefore, the accounting policies related to this classification are not disclosed.
Liabilitas keuangan yang diukur pada biaya perolehan diamortisasi
Financial liabilities measured at amortized cost
Pada saat pengakuan awal, liabilitas keuangan yang diukur pada biaya perolehan diamortisasi diukur pada nilai wajar dikurangi biaya transaksi.
Financial liabilities at amortized cost are initially recognized at fair value less transaction costs.
Setelah pengakuan awal, Perseroan mengukur seluruh liabilitas keuangan yang diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.
After initial recognition, the Company measures all financial liabilities at amortized cost using effective interest rates method.
Liabilitas keuangan yang diukur pada biaya perolehan diamortisasi antara lain utang usaha, utang lain-lain, beban bunga yang masih harus dibayar, pinjaman bank dan surat berharga yang diterbitkan.
Financial liabilities measured at amortized cost are trade payables, other payables, accrued interest expenses, bank loans and securities issued.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
17
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Penghentian pengakuan Derecognition
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 subtansial seluruh risiko dan manfaat atas kepemilikan aset tersebut telah ditransfer (jika secara substansial seluruh risiko dan manfaat tidak ditransfer, maka Perseroan melakukan evaluasi untuk memastikan keterlibatan berkelanjutan atas kendali yang masih dimiliki tidak mencegah penghentian pengakuan). Liabilitas keuangan dihentikan pengakuannya ketika liabilitas telah dilepaskan atau dibatalkan atau kadaluwarsa.
Financial assets are derecognized when the contractual rights to receive the cash flows from these assets have ceased to exist or the assets have been transferred and substantially all the risks and rewards of ownership of the assets are also transferred (if substantially all the risk and rewards were not transferred, the Company tests control to ensure that continuing involvement on the basis of any retained powers of control does not prevent derecognition). Financial liabilities are derecognized when they have been redeemed or otherwise extinguished.
Penghentian pengakuan piutang pembiayaan konsumen yang mengalami penurunan nilai, akan dilakukan ketika piutang telah dihapusbukukan. Piutang ragu-ragu akan dihapusbukukan setelah menunggak lebih dari 180 hari atau pada saat piutang tersebut diputuskan tidak dapat tertagih. Penghapusbukuan piutang ragu-ragu ini bukan merupakan hapus tagih, sehingga upaya penagihan tetap dilakukan. Piutang pembiayaan konsumen dapat diselesaikan dengan menjual kendaraan yang dibiayai Perseroan.
Consumer financing receivables are derecognized when the receivables have been written off. Doubtful debts are written off when they have been overdue for more than 180 days or determined to be not collectible. The write-off of doubtful accounts do not eliminate the right to collect and hence are still to be pursued for collection continuously. Consumer financing receivables could be settled by selling their motor vehicle that financed by the Company.
Perseroan menerima kendaraan dari konsumen dan membantu untuk menjual kendaraan tersebut sehingga konsumen dapat melunasi utang pembiayaan konsumennya.
The Company receives motor vehicles from customers and assist them in selling their motor vehicles so that the customers are able to settle their consumer financing payables.
Konsumen memberi kuasa kepada Perseroan untuk menjual kendaraan ataupun melakukan tindakan lainnya dalam upaya penyelesaian piutang pembiayaan konsumen bila terjadi wanprestasi terhadap perjanjian pembiayaan. Konsumen berhak atas selisih lebih antara nilai penjualan dengan saldo piutang pembiayaan konsumen. Jika terjadi selisih kurang, kerugian yang terjadi dibebankan pada laporan laba rugi dan penghasilan komprehensif lain tahun berjalan.
The customers give the right to the Company to sell the motor vehicles or take any other actions to settle the outstanding consumer financing receivables in the events of default. Customers are entitled to the positive difference between the proceeds from sale of the motor vehicles and the outstanding consumer financing receivables. If difference is negative, the resulting loss is charged to the current year statement of profit or loss and other comprehensive income.
Jaminan kendaraan milik konsumen untuk pelunasan piutang pembiayaan konsumen, dinyatakan sebesar nilai terendah antara nilai tercatat piutang pembiayaan konsumen terkait atau realisasi neto dari jaminan kendaraan milik konsumen tersebut. Selisih antara nilai tercatat dan nilai realisasi neto piutang dicatat sebagai cadangan kerugian penurunan nilai dan dibebankan pada laporan laba rugi dan penghasilan komprehensif lain tahun berjalan.
Motor vehicle collaterals owned by customers for settlement of their consumer financing receivables, presented at the lower of carrying value of the related consumer financing receivables or the net realizable value of motor vehicle collaterals. The difference between the carrying value and the net realizable value of receivables is recorded as allowance for impairment losses and charged to the current year statement of profit or loss and other comprehensive income.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
18
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Saling hapus Offsetting
Aset dan liabilitas keuangan saling hapus disajikan dalam laporan posisi keuangan 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. Hak yang berkekuatan hukum berarti:
Financial assets and liabilities are offset and the net amount presented in the statement of financial position when there is a legally enforceable right to offset the recognized amounts and there is intention to settle on a net basis or to realize the asset and settle the liability simultaneously. This means that the right to set off:
a. tidak terdapat kontinjensi di masa yang akan
datang, dan b. hak yang berkekuatan hukum pada kondisi-
kondisi berikut ini: i. kegiatan bisnis normal; ii. kondisi kegagalan usaha; dan iii. kondisi gagal bayar atau bangkrut.
a. must not be contigent on a future event, and
b. must be legally enforceable in all of the following circumtances: i. the normal course of business ii. the event of default iii. the event of insolvency or bankruptcy.
Klasifikasi instrumen keuangan Classification of financial instruments
Perseroan mengklasifikasikan instrumen keuangan ke dalam klasifikasi tertentu yang mencerminkan sifat dari informasi dan mempertimbangkan karakteristik dari instrumen keuangan tersebut. Klasifikasi ini dapat dilihat pada tabel berikut:
The Company classifies the financial instruments into classes that reflects the nature of information and take into account the characteristic of those financial instruments. The classification can be seen in the table below:
Kategori yang didefinisikan oleh PSAK No.55 (Revisi 2014)/
Category as defined by SFAS No.55 (Revised 2014)
Golongan (ditentukan oleh Perseroan)/
Class (as determined
by the Company)
Subgolongan/
Subclasses
Aset keuangan/ Financial assets
Pinjaman yang diberikan dan piutang/Loans and receivables
Kas dan setara kas/Cash and cash equivalents - Kas/Cash on hand - Kas pada bank/Cash in banks - Deposito berjangka/Time deposit Piutang pembiayaan konsumen/Consumer financing receivables Piutang sewa pembiayaan/Finance lease receivables
Piutang lain-lain/Other receivables
Aset lain-lain/Other assets - Piutang karyawan/Employee receivables - Piutang bunga/Interest receivables - Setoran dalam perjalanan/Deposit in transit - Uang jaminan/Security deposit
Liabilitas keuangan/ Financial liabilities
Liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi/Financial liabilities at amortized cost
Utang usaha/Trade payables - Utang kendaraan/Vehicle payables - Utang asuransi/Insurance payables Utang lain-lain/Other payables - Kantor pendaftaran fidusia/Fiduciary register office - Premi asuransi/Insurance premium - Pembiayaan bersama/Joint financing - Lain-lain/Others Beban bunga yang masih harus dibayar/Accrued interest expenses Pinjaman bank/Bank loans Surat berharga yang diterbitkan/Securities issued
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
19
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
d. Penentuan nilai wajar d. Determination of fair value
Nilai wajar adalah harga yang akan diterima untuk menjual suatu aset atau harga yang akan dibayar untuk mengalihkan suatu liabilitas dalam transaksi teratur antara pelaku pasar pada tanggal pengukuran. Pengukuran nilai wajar berdasarkan asumsi bahwa transaksi untuk menjual aset atau mengalihkan liabilitas terjadi di: • pasar utama untuk aset dan liabilitas
tersebut, atau • jika terdapat pasar utama, di pasar yang
paling menguntungkan untuk aset atau liabilitas tersebut.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: • in the principal market for the asset or
liability, or • in the absence of the principal market, in
the most advantageous market for the asset or liability.
Perseroan harus memiliki akses ke pasar utama atau pasar yang paling menguntungkan tersebut.
The principal or the most advantageous market must be accessible by the Company.
Nilai wajar aset dan liabilitas diukur menggunakan asumsi yang akan digunakan pelaku pasar ketika menentukan harga aset atau liabilitas tersebut, dengan asumsi bahwa pelaku pasar bertindak dalam kepentingan ekonomi terbaiknya.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.
Perseroan menggunakan teknik penilaian yang sesuai dalam keadaan dan dimana data yang memadai tersedia untuk mengukur nilai wajar, memaksimalkan penggunaan input yang tidak dapat diobservasi.
The Company uses valuation techniques that are appropriate in the circumtances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.
Semua aset dan liabilitas yang nilai wajarnya diukur atau diungkapkan dalam laporan keuangan dikategorikan dalam hirarki nilai wajar, sebagaimana dijelaskan di bawah ini, berdasarkan tingkatan level input yang terendah yang signifikan terhadap pengukuran nilai wajar secara keseluruhan: • Level 1 - harga kuotasian (tanpa
penyesuaian) di pasar aktif untuk aset atau liabilitas yang identik.
• Level 2 - teknik penilaian di mana tingkat level input terendah yang signifikan terhadap pengukuran nilai wajar dapat diobservasi baik secara langsung atau tidak langsung.
• Level 3 - teknik penilaian di mana tingkat level input terendah yang signifikan terhadap pengukuran nilai wajar tidak dapat diobservasi baik secara langsung atau tidak langsung.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: • Level 1 - quoted (unadjusted) market
prices in active markets for identical assets or liabilities.
• Level 2 - valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.
• Level 3 - valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly unobservable.
Untuk aset dan liabilitas yang diukur secara berulang dalam laporan keuangan, Perseroan menentukan apakah perpindahan antar level hirarki telah terjadi dengan melakukan evaluasi pengelompokan (berdasarkan level input yang terendah yang signifikan terhadap pengukuran nilai wajar secara menyeluruh) pada setiap akhir periode pelaporan.
For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether transfers have occured between levels in hierarchy by re-assesing categorisation (based on the lowest level input that is signifcant to the fair value measurement as a whole) at the end of each reporting period.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
20
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
e. Penjabaran mata uang asing e. Foreign currency translation
Transaksi dalam mata uang asing dijabarkan ke mata uang Rupiah dengan menggunakan kurs yang berlaku pada tanggal transaksi. Pada tanggal laporan posisi keuangan, aset dan liabilitas moneter dalam mata uang asing dijabarkan dengan kurs yang berlaku pada tanggal laporan posisi keuangan.
Transactions denominated in a foreign currency are translated into Rupiah at the exchange rate prevailing at the date of the transaction. At the date of statement of financial position, monetary assets and liabilities in foreign currencies are translated at the exchange rates prevailing at that date.
Keuntungan dan kerugian selisih kurs yang timbul dari transaksi dalam mata uang asing dan dari penjabaran aset dan liabilitas moneter dalam mata uang asing, diakui pada laporan laba rugi dan penghasilan komprehensif lain.
Exchange gains and losses arising on transactions in foreign currency and on the translation of foreign currency monetary assets and liabilities are recognized in the statement of profit or loss and other comprehensive income.
Pada tanggal 31 Desember 2016, kurs nilai tukar yang digunakan kurs tengah Bank Indonesia sebesar Rp13.436 (nilai penuh) (31 Desember 2015: Rp13.795 (nilai penuh) untuk 1 Dolar Amerika Serikat (“Dolar AS”).
As of 31 December 2016, the exchange rates used are the Bank Indonesia middle rate of Rp13,436 (full amount) (31 December 2015: Rp13,795 (full amount) for 1 United States Dollar (“US Dollar”).
f. Kas dan setara kas f. Cash and cash equivalents
Kas dan setara kas mencakup kas, kas di bank dan deposito berjangka dengan jangka waktu jatuh tempo tiga bulan atau kurang, yang tidak dibatasi penggunaannya, tidak digunakan sebagai jaminan atas pinjaman dan dapat segera dijadikan kas tanpa terjadi perubahan nilai yang sangat signifikan.
Cash and cash equivalents include cash on hand, cash in banks and time deposits with original maturity of three months or less, which are not restricted and are not pledged as collateral for any borrowing and that are readily convertible to known amounts of cash which are subject to insignificant risk of changes in value.
g. Piutang pembiayaan konsumen g. Consumer financing receivables
Piutang pembiayaan konsumen diakui pada awalnya dengan nilai wajar ditambah biaya-biaya transaksi dan dikurangi yield enhancing income yang dapat diatribusikan secara langsung dan selanjutnya diukur dengan biaya perolehan diamortisasi menggunakan metode tingkat bunga efektif. Piutang pembiayaan konsumen diklasifikasikan sebagai pinjaman yang diberikan dan piutang. Lihat Catatan 2c untuk kebijakan akuntansi atas pinjaman yang diberikan dan piutang.
Consumer financing receivables are recognized initially at fair value, added with directly attributable transactions costs and deducted by yield enhancing income, and subsequently measured at amortized cost using the effective interest rate method. Consumer financing receivables are classified as loans and receivables. Refer to Note 2c for the accounting policy for loans and receivables.
Penyelesaian kontrak sebelum masa pembiayaan konsumen berakhir diperlakukan sebagai pembatalan kontrak pembiayaan konsumen dan laba atau rugi yang terjadi diakui dalam laporan laba rugi dan penghasilan komprehensif lain tahun berjalan pada tanggal terjadinya transaksi.
Early termination is treated as a cancellation of an existing contract and the resulting gain or loss is credited or charged to the current year statement of profit or loss and other comprehensive income at the transaction date.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
21
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
g. Piutang pembiayaan konsumen (lanjutan) g. Consumer financing receivables (continued)
Pendapatan pembiayaan konsumen yang belum diakui merupakan selisih antara jumlah keseluruhan pembayaran angsuran yang akan diterima dari konsumen dengan jumlah pokok pembiayaan yang akan diakui sebagai penghasilan sesuai dengan jangka waktu kontrak dengan menggunakan metode tingkat suku bunga efektif.
Unearned consumer financing income is the difference between total installments to be received from customers and the total financing which is recognized as income over the term of the contract using the effective interest rate.
Restrukturisasi kredit dapat dilakukan dengan cara pengalihan kredit, melanjutkan kredit, mengangsur kembali, merubah jatuh tempo, merubah tenor dan/atau menambah down payment.
Credit restructuring can be done by over contract, asset replacement, repay back, change the due date, change the tenor and/or increase the down payment.
Pembiayaan bersama Joint financing
Piutang pembiayaan konsumen merupakan jumlah piutang setelah dikurangi dengan bagian pembiayaan bersama dimana risiko kredit ditanggung oleh pemberi pembiayaan bersama sesuai dengan porsinya (without recourse), pendapatan pembiayaan yang belum diakui dan cadangan kerugian penurunan nilai.
Consumer financing receivables are stated net of joint financing receivables where joint financing providers bear credit risk in accordance with its portion (without recourse), unearned consumer financing income and allowance for impairment losses.
Piutang pembiayaan konsumen yang dibiayai bersama pihak-pihak lain dimana masing-masing pihak menanggung risiko kredit sesuai dengan porsinya (without recourse) disajikan di laporan posisi keuangan secara bersih. Pendapatan pembiayaan konsumen dan beban bunga yang terkait dengan pembiayaan bersama without recourse disajikan secara bersih di laporan laba rugi dan penghasilan komprehensif lain.
Joint financing receivables where the Company and joint financing providers bear credit risk in accordance with their portion (without recourse) are presented on a net basis in the statement of financial position. Consumer financing income and interest expenses related to joint financing without recourse are also presented on a net basis in the statement of profit or loss and other comprehensive income.
Dalam pembiayaan bersama without recourse, Perseroan berhak menentukan tingkat bunga yang lebih tinggi kepada pelanggan dari tingkat bunga yang ditetapkan dalam perjanjian dengan pemberi pembiayaan bersama. Selisihnya merupakan pendapatan bagi Perseroan dan disajikan sebagai “Pendapatan Pembiayaan Konsumen”.
For joint financing without recourse, the Company has the right to set higher interest rates to customers than those as stated in the joint financing agreements with joint financing providers. The difference is recognized as the Company’s revenue and disclosed as “Consumer Financing Income”.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
22
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
h. Piutang sewa pembiayaan h. Finance lease receivables
Piutang sewa pembiayaan merupakan jumlah piutang sewa pembiayaan ditambah nilai sisa yang akan diterima pada akhir masa sewa pembiayaan dikurangi dengan pendapatan sewa pembiayaan tangguhan, simpanan jaminan dan cadangan kerugian penurunan nilai. Selisih antara nilai piutang usaha bruto dan nilai tunai piutang diakui sebagai pendapatan sewa pembiayaan tangguhan. Pendapatan sewa pembiayaan tangguhan dialokasikan sebagai pendapatan di laporan laba rugi dan penghasilan komprehensif lain tahun berjalan berdasarkan suatu tingkat pengembalian konstan atas investasi bersih dengan menggunakan suku bunga efektif.
Finance lease receivables represent lease receivables plus the residual value at the end of the lease period and stated net of unearned lease income, security deposits and allowances for impairment losses. The difference between the gross lease receivable and the present value of the lease receivable is recognized as unearned lease income. Unearned lease income is allocated to current year statement of profit or loss and other comprehensive income based on a constant rate of return on the net investment using effective interest rates.
Penyewa pembiayaan memiliki hak opsi untuk membeli aset yang disewa-pembiayaankan pada akhir masa sewa pembiayaan dengan harga yang telah disetujui bersama pada saat dimulainya perjanjian sewa pembiayaan.
The lessee has the option to purchase the leased asset at the end of the lease period at a price mutually agreed upon at the commencement of the agreement.
Penyelesaian kontrak sebelum masa sewa pembiayaan berakhir diperlakukan sebagai pembatalan kontrak sewa dan laba atau rugi yang timbul diakui dalam laporan laba rugi dan penghasilan komprehensif lain tahun berjalan.
Early termination is treated as a cancellation of an existing contract and the resulting gain or loss is credited or charged to the current year statement of profit or loss and other comprehensive income.
Piutang sewa pembiayaan diklasifikasikan sebagai pinjaman yang diberikan dan piutang. Lihat Catatan 2c untuk kebijakan akuntansi atas pinjaman yang diberikan dan piutang.
Finance lease receivables are classified as loans and receivables. Refer to Note 2c for the accounting policy of loans and receivables.
i. Cadangan kerugian penurunan nilai i. Allowance for impairment losses
Perseroan melakukan perhitungan cadangan kerugian penurunan nilai dengan menggunakan metode “incurred losses”. Lihat Catatan 2c.
The Company calculates the allowance for impairment losses using the “incurred losses” methodology. Refer to Note 2c.
j. Beban dibayar di muka j. Prepaid expenses
Beban dibayar di muka diamortisasi selama masa manfaat masing-masing biaya dengan menggunakan metode garis lurus.
Prepaid expenses are amortized over the periods benefited using the straight-line method.
k. Aset tetap dan penyusutan k. Fixed assets and depreciation
Aset tetap diakui sebesar harga perolehan setelah dikurangi dengan akumulasi penyusutan.
Fixed assets are carried at cost less accumulated depreciation.
Harga perolehan mencakup semua pengeluaran yang terkait secara langsung dengan perolehan aset tetap.
Acquisition cost covers all expenditure that is directly attributable to the acquisition of the items.
Biaya pengurusan legal hak atas tanah dalam bentuk Hak Guna Usaha (“HGU”), Hak Guna Bangunan (“HGB”) dan Hak Pakai (“HP”) ketika tanah diperoleh pertama kali diakui sebagai bagian dari biaya perolehan tanah pada akun “Aset Tetap” dan tidak diamortisasi.
The legal cost of land rights in the form of Business Usage Rights (“Hak Guna Usaha” or “HGU”), Building Usage Right (Hak Guna Bangunan or “HGB”) and Usage Rights (“Hak Pakai” or “HP”) when the land was acquired initially are recognized as part of the cost of the land under the “Fixed Assets” account and not amortized.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
23
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
k. Aset tetap dan penyusutan (lanjutan) k. Fixed assets and depreciation (continued)
Sementara biaya pengurusan atas perpanjangan atau pembaruan legal hak atas tanah dalam bentuk HGU, HGB dan HP diakui sebagai bagian dari akun “Beban Ditangguhkan, Neto” pada laporan posisi keuangan dan diamortisasi sepanjang mana yang lebih pendek antara umur hukum hak dan umur ekonomik tanah.
Meanwhile the extension or the legal renewal costs of land rights in the form of HGU, HGB and HP were recognized as part of “Deferred Charges, Net” account in the statement of financial position and were amortized over the shorter of the rights’ legal life and land's economic life.
Tanah tidak disusutkan. Land is not depreciated.
Aset dalam penyelesaian dinyatakan sebesar biaya perolehan dan akan dipindahkan ke masing-masing aset tetap yang bersangkutan pada saat selesai dan siap digunakan.
Construction in progress is stated at cost and transferred to the respective fixed asset account when completed and ready to use.
Penyusutan aset tetap selain tanah dihitung dengan menggunakan metode garis lurus sepanjang estimasi masa manfaatnya sebagai berikut:
Depreciation on fixed assets other than land is calculated using the straight-line method over their estimated useful lives as follows:
Masa manfaat (tahun)/ Persentase/ Golongan Useful life (years) Percentage Classsification
Bangunan 20 5,00% Buildings Perabotan dan peralatan kantor 5 20,00% Furniture and office equipment Kendaraan 5 20,00% Vehicles Renovasi bangunan sewa 3 - 5 20,00%-33,33% Leasehold improvement
Aset tetap kecuali tanah dan bangunan dalam pengerjaan disusutkan sampai dengan nilai sisanya.
Fixed assets except land and construction in progress are depreciated to their residual value.
Biaya-biaya setelah pengakuan awal aset diakui sebagai bagian dari nilai tercatat aset atau sebagai aset yang terpisah, sebagaimana seharusnya, hanya apabila kemungkinan besar Perseroan akan mendapatkan manfaat ekonomis di masa depan berkenaan dengan aset tersebut dan biaya perolehan aset dapat diukur dengan andal. Nilai yang terkait dengan penggantian komponen tidak diakui. Biaya perbaikan dan pemeliharaan dibebankan ke dalam laporan laba rugi dan penghasilan komprehensif lain selama periode dimana biaya-biaya tersebut terjadi.
Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. Amounts in respect of replaced parts are derecognized. All other repairs and maintenance are charged to the statement of profit or loss and other comprehensive income during the period in which they are incurred.
Nilai residu dan umur manfaat aset ditelaah dan disesuaikan, setiap tanggal laporan posisi keuangan jika diperlukan.
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each date of statement of financial position.
Apabila aset tetap tidak digunakan lagi atau dijual, maka nilai tercatat dan akumulasi penyusutannya dikeluarkan dari laporan keuangan dan keuntungan atau kerugian yang dihasilkan dari penjualan aset tetap diakui dalam laporan laba rugi dan penghasilan komprehensif lain.
When assets are retired or otherwise disposed of, their carrying values and the related accumulated depreciation are eliminated from the financial statements and the resulting gain or loss on the disposal of fixed assets is recognized in the statement of profit or loss and other comprehensive income.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
24
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
k. Aset tetap dan penyusutan (lanjutan) k. Fixed assets and depreciation (continued)
Apabila nilai tercatat aset tetap lebih besar dari nilai yang dapat diperoleh kembali, nilai tercatat aset diturunkan menjadi sebesar nilai yang dapat diperoleh kembali.
When the carrying amount of an asset is greater than its estimated recoverable amount, it is written down immediately to its recoverable amount.
Penilaian dilakukan pada akhir setiap periode pelaporan apakah terdapat indikasi bahwa rugi penurunan nilai yang telah diakui dalam periode sebelumnya mungkin tidak ada lagi atau mungkin telah menurun. Jika indikasi yang dimaksud ditemukan, maka entitas mengestimasi jumlah terpulihkan aset tersebut. Kerugian penurunan nilai yang telah diakui dalam periode sebelumnya dibalik hanya jika terdapat perubahan asumsi-asumsi yang digunakan untuk menentukan jumlah terpulihkan aset tersebut sejak rugi penurunan nilai terakhir diakui. Dalam hal ini, jumlah tercatat aset dinaikkan ke jumlah terpulihkannya.
An assessment is made at each reporting period as to whether there is any indication that previously recognized impairment losses recognized may no longer exist or may have decreased. If such indication exists, the recoverable amount is estimated. A previously recognized impairment losess is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount.
Pembalikan rugi penurunan nilai diakui dalam laporan laba rugi dan penghasilan komprehensif lain. Setelah pembalikan tersebut, penyusutan aset tersebut disesuaikan di periode mendatang untuk mengalokasikan jumlah tercatat aset yang direvisi, dikurangi nilai sisanya, dengan dasar yang sistematis selama sisa umur masa manfaatnya.
Reversal of an impairment loss is recognized in the statement of profit or loss and other comprehensive income. After such a reversal, the depreciation charge on the asset is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life.
l. Perpajakan l. Taxation
Pajak Final Final Tax
Peraturan perpajakan di Indonesia mengatur beberapa jenis penghasilan dikenakan pajak yang bersifat final. Pajak final yang dikenakan atas nilai bruto transaksi tetap dikenakan walaupun atas transaksi tersebut pelaku transaksi mengalami kerugian.
Tax regulation in Indonesia determined that certain taxable income is subject to final tax. Final tax applied to the gross value of transactions is applied even when the parties carrying the transaction recognizing losses.
Mengacu pada PSAK No. 46 (Revisi 2014), “Pajak Penghasilan”, pajak final tersebut tidak termasuk dalam lingkup yang diatur oleh PSAK No. 46. Oleh karena itu, Perusahaan memutuskan untuk menyajikan beban pajak final sehubungan dengan pendapatan bunga sebagai pos tersendiri.
Referring to PSAK No. 46 (Revised 2014), “Income Tax”, final tax is no longer governed by PSAK No. 46. Therefore, the Company has decided to present all of the final tax arising from interest income as separate line item.
Pajak Kini Current Tax
Aset dan liabilitas pajak kini untuk tahun berjalan diukur sebesar jumlah yang diharapkan dapat direstitusi dari atau dibayarkan kepada otoritas perpajakan.
Current income tax assets and liabilities for the current year are measured at the amount expected to be recovered from or paid to the taxation authority.
Beban pajak kini ditentukan berdasarkan laba kena pajak tahun berjalan yang dihitung berdasarkan tarif pajak yang berlaku.
Current tax expense is determined based on the taxable profit for the year computed using the prevailing tax rates.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
25
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
l. Perpajakan (lanjutan) l. Taxation (continued)
Pajak Kini (lanjutan) Current Tax (continued)
Kekurangan/kelebihan pembayaran pajak penghasilan dicatat sebagai bagian dari “Beban Pajak Penghasilan” dalam laporan laba rugi dan penghasilan komprehensif lain. Perusahaan juga menyajikan bunga/denda, jika ada, sebagai bagian dari “Beban Pajak Penghasilan”.
Underpayment/overpayment of income tax are presented as part of “Income Tax Expense” in the statement of profit or loss and other comprehensive income. The Company also presented interest/penalty, if any, as part of “Income Tax Expense”.
Koreksi terhadap liabilitas perpajakan diakui pada saat surat ketetapan pajak diterima atau, jika diajukan keberatan, pada saat keputusan atas keberatan ditetapkan.
Amendments to tax obligations are recorded when a tax assessment letter is received or, if appealed against, when the result of the appeal is determined.
Pajak Tangguhan Deferred Tax
Aset dan liabilitas pajak tangguhan diakui menggunakan metode posisi keuangan atas konsekuensi pajak pada masa mendatang yang timbul dari perbedaan jumlah tercatat aset dan liabilitas menurut laporan keuangan dengan dasar pengenaan pajak aset dan liabilitas pada setiap tanggal pelaporan. Liabilitas pajak tangguhan diakui untuk semua perbedaan temporer kena pajak dan aset pajak tangguhan diakui untuk perbedaan temporer yang boleh dikurangkan dan akumulasi rugi fiskal, sepanjang besar kemungkinan perbedaan temporer yang boleh dikurangkan dan akumulasi rugi fiskal tersebut dapat dimanfaatkan untuk mengurangi laba kena pajak pada masa depan.
Deferred tax assets and liabilities are recognized using the financial position method for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities in the financial statements and their respective tax bases at each reporting date. Deferred tax liabilities are recognized for all taxable temporary differences and deferred tax assets are recognized for deductible temporary differences and accumulated fiscal losses to the extent that it is probable that taxable profit will be available in future years against which the deductible temporary differences and accumulated fiscal losses can be utilized.
Jumlah tercatat aset pajak tangguhan ditelaah ulang pada akhir setiap periode pelaporan dan diturunkan apabila laba fiskal mungkin tidak memadai untuk mengkompensasi sebagian atau semua manfaat aset pajak tangguhan tersebut. Pada akhir setiap periode pelaporan, Perusahaan menilai kembali aset pajak tangguhan yang tidak diakui. Perusahaan mengakui aset pajak tangguhan yang sebelumnya tidak diakui apabila besar kemungkinan bahwa laba fiskal pada masa depan akan tersedia untuk pemulihannya.
The carrying amount of a deferred tax asset is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of that deferred tax asset to be utilized. At the end of each reporting period, the Company reassesses unrecognized deferred tax assets. The Company recognizes a previously unrecognized deferred tax assets to the extent that it has become probable that future taxable profit will allow the deferred tax assets to be recovered.
Pajak tangguhan dihitung dengan menggunakan tarif pajak yang berlaku atau secara substansial telah berlaku pada tanggal pelaporan. Perubahan nilai tercatat aset dan liabilitas pajak tangguhan yang disebabkan oleh perubahan tarif pajak dibebankan pada usaha tahun berjalan, kecuali untuk transaksi-transaksi yang sebelumnya telah langsung dibebankan atau dikreditkan ke ekuitas.
Deferred tax is calculated at the tax rates that have been enacted or substantively enacted at the reporting date. Changes in the carrying amount of deferred tax assets and liabilities due to a change in tax rates are charged to current year operations, except to the extent that they relate to items previously charged or credited to equity.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
26
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
l. Perpajakan (lanjutan) l. Taxation (continued)
Pajak Tangguhan (lanjutan) Deferred Tax (continued)
Aset dan liabilitas pajak tangguhan disajikan secara saling hapus dalam laporan posisi keuangan, kecuali aset dan liabilitas pajak tangguhan untuk entitas yang berbeda, sesuai dengan penyajian aset dan liabilitas pajak kini.
Deferred tax assets and liabilities are offset in the statements of financial position, except if they are for different legal entities, consistent with the presentation of current tax assets and liabilities.
m. Imbalan kerja m. Employee benefits
Imbalan kerja jangka pendek Short-term employee benefits
Imbalan kerja jangka pendek diakui pada saat terutang kepada karyawan berdasarkan metode akrual.
Short-term employee benefits are recognized when it is liable to the employees based on accrual method.
Imbalan pasca-kerja Post-employment benefits
Imbalan pasca-kerja, seperti pensiun, uang pisah, uang penghargaan, dan imbalan lainnya, ditentukan sesuai dengan Peraturan Perseroan dan Undang-Undang Ketenagakerjaan No. 13/2003 (“UU 13/2003”).
Post-employment employee benefits, such as pensions, severance pay, service pay, and other benefits are provided in accordance with the Company’s Regulations and Labor Law No. 13/2003 (“Law 13/2003”).
Karena UU 13/2003 menentukan rumus tertentu untuk menghitung jumlah minimal imbalan pensiun, pada dasarnya, program pensiun berdasarkan UU 13/2003 adalah program imbalan pasti. Program pensiun imbalan pasti adalah program pensiun yang menentukan jumlah imbalan pensiun yang akan diberikan, biasanya berdasarkan pada satu faktor atau lebih seperti usia, masa kerja atau kompensasi.
Since Law 13/2003 sets the formula for determining the minimum amount of benefits, in substance pension plans under this Law 13/2003 represent defined benefit plans. A defined benefit plan is a pension plan that defines an amount of pension benefit to be provided, usually as a function of one or more factors such as age, years of service or compensation.
Liabilitas program pensiun imbalan pasti yang diakui di laporan posisi keuangan adalah nilai kini liabilitas imbalan pasti pada tanggal laporan posisi keuangan, serta disesuaikan dengan keuntungan atau kerugian aktuarial dan biaya jasa lalu yang belum diakui. Nilai kini liabilitas imbalan pasti dihitung setiap tahun oleh aktuaris independen menggunakan metode projected unit credit.
The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the date of statement of financial position, together with adjustments for unrecognized actuarial gains or losses and past service cost. The present value of defined benefit obligation is calculated annually by an independent actuary using the projected unit credit method.
Nilai kini liabilitas imbalan pasti ditentukan dengan mendiskontokan estimasi arus kas keluar masa depan dengan menggunakan tingkat bunga obligasi Perseroan berkualitas tinggi dalam mata uang yang sama dengan mata uang imbalan yang akan dibayarkan dan waktu jatuh tempo yang kurang lebih sama dengan waktu jatuh tempo imbalan yang bersangkutan.
The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating the terms of the related pension liability.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
27
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
m. Imbalan kerja (lanjutan) m. Employee benefits (continued)
Imbalan pasca-kerja (lanjutan) Post-employment benefits (continued)
Seluruh biaya jasa lalu diakui pada saat yang lebih dulu antara ketika amandemen/kurtailmen terjadi atau ketika biaya restrukturisasi atau pemutusan hubungan kerja diakui. Sebagai akibatnya, biaya jasa lalu yang belum vested tidak lagi dapat ditangguhkan dan diakui selama periode vesting masa depan.
All past service costs are recognized at the earlier of when the amendment/curtailment occurs and when the related restructuring or termination costs are recognized. As a result, unvested past service costs can no longer be deferred and recognized over the future vesting period.
Bunga neto atas imbalan pasti neto merupakan komponen pendapatan bunga dari aset program, biaya bunga atas liabilitas imbalan pasti dan bunga atas dampak batas atas dari aset.
Net interest on the net defined benefit liabilites is the interest income component of plan assets, interest expense of defined benefit obligation and interest on the effect of asset ceiling.
Pengukuran kembali liabilitas imbalan pasti neto terdiri atas: - keuntungan dan kerugian aktuarial - imbal hasil atas aset program, tidak termasuk
jumlah yang dimasukan dalam bunga neto atas liabilitas imbalan pasti neto
- setiap perubahan dampak batas atas aset, tidak termasuk jumlah yang dimasukkan dalam bunga neto atas liabilitas imbalan pasti neto.
Remeasurements of the net defined benefit obligation consists of: - Actuarial gains and losses - Return on plan assets, excluding amount
included in net interest on the net defined benefit obligation
- Any change in effect of the asset ceiling, excluding amount included in net interest on the net defined benefit obligation.
Pesangon pemutusan hubungan kerja Termination benefits
Pesangon pemutusan hubungan kerja terutang ketika karyawan dihentikan kontrak kerjanya sebelum usia pensiun normal. Perseroan mengakui pesangon pemutusan hubungan kerja ketika Perseroan menunjukkan komitmennya untuk memutuskan hubungan kerja dengan karyawan berdasarkan suatu rencana formal terperinci yang kecil kemungkinannya untuk dibatalkan. Pesangon yang akan dibayarkan dalam waktu lebih dari 12 bulan setelah tanggal laporan posisi keuangan didiskontokan untuk mencerminkan nilai kini.
Termination benefits are payable whenever an employee’s employment is terminated before the normal retirement date. The Company recognizes termination benefits when it is demonstrably committed to terminate the employment of current employment of current employees according to a detailed formal plan and the possibility to withdraw the plan is low. Benefits falling due more than 12 months after statement of financial position’s date are discounted to reflect its present value.
n. Saham n. Share capital
Saham biasa diklasifikasikan sebagai ekuitas. Ordinary shares are classified as equity.
o. Dividen o. Dividends
Pembagian dividen final diakui sebagai liabilitas dalam laporan keuangan pada tanggal dividen tersebut disetujui Rapat Umum Pemegang Saham Perseroan.
Final dividend distributions are recognized as a liability in the financial statements at the date when the dividends are approved in the Company’s General Meeting of Shareholders.
p. Laba per saham p. Earnings per share
Laba per saham dihitung dengan membagi laba tahun berjalan dengan jumlah rata-rata tertimbang saham biasa yang beredar pada tahun yang bersangkutan.
Earnings per share is calculated by dividing income for the year by the weighted average number of ordinary shares outstanding during the year.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
28
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
q. Surat berharga yang diterbitkan q. Securities issued
Surat berharga yang diterbitkan meliputi Medium-Term Notes dan utang obligasi. Surat berharga yang diterbitkan diklasifikasikan sebagai liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi. Biaya tambahan yang dapat diatribusikan secara langsung dengan penerbitan surat berharga dikurangkan dari jumlah surat berharga yang diterbitkan dan diamortisasi selama jangka waktu surat berharga yang diterbitkan tersebut dengan menggunakan metode suku bunga efektif. Lihat Catatan 2c untuk kebijakan akuntansi atas liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi.
Securities issued consist of Medium-Term Notes and bonds payable. Securities issued are classified as financial liabilities at amortized cost. Incremental costs directly attributable to the issuance of securities are deducted from the amount of securities issued and amortized over the period of the securities issued using the effective interest rate method. Refer to Note 2c for the accounting policy of financial liabilities at amortized cost.
r. Transaksi dengan pihak-pihak berelasi r. Transactions with related parties
Perseroan mempunyai transaksi dengan pihak berelasi. Definisi pihak berelasi yang dipakai adalah sebagai berikut:
The Company has transactions with related parties. The definition of related parties used is as follows:
Suatu pihak dianggap berelasi dengan Perseroan jika:
The Company considers the following as its related parties:
a. Orang atau anggota keluarga dekatnya
mempunyai relasi dengan entitas pelapor jika orang tersebut: (i) memiliki pengendalian atau
pengendalian bersama atas entitas pelapor;
(ii) memiliki pengaruh signifikan atas entitas pelapor; atau
(iii) merupakan personil manajemen kunci entitas pelapor atau entitas induk dari entitas pelapor.
a. a person or a close member of that person’s family is related to a reporting entity if that person: (i) has control or joint control of the
reporting entity;
(ii) has significant influence over the reporting entity; or
(iii) is a member of the key management personnel of the reporting entity or of a parent of the reporting entity.
b. suatu entitas berelasi dengan entitas pelapor jika memenuhi salah satu hal berikut: (i) entitas dan entitas pelapor adalah
anggota dari kelompok usaha yang sama (artinya entitas induk, entitas anak, dan entitas anak berikutnya saling berelasi dengan entitas lainnya).
(ii) 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).
(iii) kedua entitas tersebut adalah ventura bersama dari pihak ketiga yang sama.
(iv) satu entitas adalah ventura bersama dari entitas ketiga dan entitas yang lain adalah entitas asosiasi dari entitas ketiga.
b. an entity is related to a reporting entity if any of the following conditions applies: (i) 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).
(ii) one entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member).
(iii) Both entities are joint ventures of the same third party.
(iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
29
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
r. Transaksi dengan pihak-pihak berelasi (lanjutan)
r. Transactions with related parties (continued)
Suatu pihak dianggap berelasi dengan Perseroan jika: (lanjutan)
The Company considers the following as its related parties: (continued)
b. suatu entitas berelasi dengan entitas pelapor
jika memenuhi salah satu hal berikut: (v) 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.
(vi) entitas yang dikendalikan atau dikendalikan bersama oleh orang yang diidentifikasi dalam huruf (a).
(vii) orang yang diidentifikasi dalam huruf (a)(i) memiliki pengaruh signifikan atas entitas atau merupakan personil manajemen kunci entitas (atau entitas induk dari entitas).
b. an entity is related to a reporting entity if any of the following conditions applies: (v) the entity is a post-employment
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.
(vi) the entity is controlled or jointly controlled by a person identified in (a).
(vii) a person identified in (a)(i) 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).
Seluruh transaksi dengan pihak-pihak berelasi telah diungkapkan di catatan atas laporan keuangan.
All transactions with related parties are disclosed in the notes to the financial statements.
s. Pengakuan pendapatan dan beban s. Income and expense recognition
Pendapatan dari pembiayaan konsumen dan sewa pembiayaan, komisi asuransi dan biaya jasa perantara asuransi serta beban bunga untuk semua instrumen keuangan dengan interest bearing diakui sesuai dengan jangka waktu kontrak berdasarkan metode suku bunga efektif.
Income from consumer financing and finance leases, insurance commission and insurance brokerage fee and expense for all interest bearing financial instruments are recognized over the term of the respective contracts using the effective interest rate method.
Metode suku bunga efektif adalah metode yang digunakan untuk menghitung biaya perolehan diamortisasi dari aset keuangan atau liabilitas keuangan dan metode untuk mengalokasikan pendapatan bunga atau beban bunga selama periode yang relevan. Suku bunga efektif adalah suku bunga yang secara tepat mendiskontokan estimasi pembayaran atau penerimaan kas di masa datang selama perkiraan umur dari instrumen keuangan, atau jika lebih tepat, digunakan periode yang lebih singkat untuk memperoleh nilai tercatat bersih dari aset keuangan atau liabilitas keuangan.
The effective interest method is a method of calculating the amortized cost of a financial asset or a financial liability and of allocating the interest income or interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument or, when appropriate, a shorter period to the net carrying amount of the financial asset or financial liability.
Pada saat menghitung suku bunga efektif, Perseroan mengestimasi arus kas dengan mempertimbangkan seluruh persyaratan kontraktual dalam instrumen keuangan tersebut, namun tidak mempertimbangkan kerugian kredit di masa datang. Perhitungan ini mencakup biaya transaksi dan pendapatan administrasi.
When calculating the effective interest rate, the Company estimates cash flows considering all contractual terms of the financial instruments but does not consider future credit losses. These calculations include transaction costs and administration income.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
30
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
s. Pengakuan pendapatan dan beban (lanjutan) s. Income and expense recognition (continued)
Pendapatan bunga bank dan denda keterlambatan pembayaran diakui pada saat terjadinya. Pendapatan bunga bank disajikan secara bruto pada laporan laba rugi dan penghasilan komprehensif lain.
Interest income and late payment penalties are recognized upon receipt. Interest income is presented on a gross basis in the statement of profit or loss and other comprehensive income.
Pendapatan dan beban diakui pada saat terjadinya, menggunakan dasar akrual.
Income and expense are recognized as incurred on an accrual basis.
t. Segmen Operasi t. Operating Segment
Segmen operasi adalah suatu komponen dari entitas, dimana:
An operating segment is a component of entity which:
i. yang terlibat dalam aktivitas bisnis yang
memperoleh pendapatan dan menimbulkan beban (termasuk pendapatan dan beban yang terkait dengan transaksi dengan komponen lain dari entitas yang sama);
ii. hasil operasinya dikaji ulang secara berkala oleh kepala operasional untuk pembuatan keputusan tentang sumber daya yang dialokasikan pada segmen tersebut dan menilai kinerjanya; dan,
iii. tersedia informasi keuangan yang dapat dipisahkan.
i. involves with business activities to generate income and expenses (including income and expenses relating to the transactions with other components with the same entity);
ii. operation result is observed regularly by chief decision maker to make decisions regarding the allocation of resources and to evaluate the works; and,
iii. Separate financial information is available.
Perseroan menyajikan segmen operasi berdasarkan informasi yang disiapkan secara internal untuk pengambil keputusan operasional. Pengambil keputusan operasional Perseroan adalah Direksi.
The Company presents operating segments based on the information that is internally provided to the chief operating decision maker. The Company’s chief operating decision maker is the Directors.
Segmen operasi Perseroan disajikan berdasarkan segmen usaha yang terdiri dari: fleet dan retail (lihat Catatan 28).
The Company discloses the operating segment is presented based on business segment which consists of: fleet and retail (refer to Note 28).
u. Perubahan kebijakan akuntansi dan
pengungkapan u. Changes in accounting policies and
disclosures
Perseroan telah menerapkan standar akuntansi berikut pada tanggal 1 Januari 2016 yang dianggap relevan:
The Company adopted the following accounting standards, which are considered relevant, starting on 1 January 2016:
• Amandemen PSAK No. 16: Aset Tetap
tentang Klarifikasi Metode yang Diterima untuk Penyusutan dan Amortisasi. Amandemen ini mengklarifikasi prinsip yang terdapat dalam PSAK 16 dan PSAK 19 Aset Takberwujud bahwa pendapatan mencerminkan suatu pola manfaat ekonomik yang dihasilkan dari pengoperasian usaha (yang mana aset tersebut adalah bagiannya) dari pada manfaat ekonomik dari pemakaian melalui penggunaan aset. Sebagai kesimpulan bahwa penggunaan metode penyusutan aset tetap yang berdasarkan pada pendapatan adalah tidak tepat.
• Amendments to SFAS No. 16: Property, Plant and Equipment on Clarification of the accepted method for depreciation and amortization. The amendments clarify the principle in SFAS 16 and SFAS 19 Intangible Asset that revenue reflects a pattern of economic benefits that are generated from operating a business (of which the asset is part) rather than the economic benefits that are consumed through use of the asset. As a result, a revenue-based method can not be used to depreciate the Property, Plant and Equipment.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
31
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
u. Perubahan kebijakan akuntansi dan pengungkapan (lanjutan)
u. Changes in accounting policies and disclosures (continued)
• Amandemen PSAK No. 24: Imbalan Kerja
tentang Program Imbalan Pasti: Iuran Pekerja. PSAK 24 meminta entitas untuk memperhatikan iuran dari pekerja atau pihak ketiga ketika memperhitungkan program manfaat pasti. Ketika iuran tersebut sehubungan dengan jasa, harus diatribusikan pada periode jasa sebagai imbalan negatif. Amandemen ini mengklarifikasi bahwa, jika jumlah iuran tidak bergantung pada jumlah tahun jasa, entitas diperbolehkan untuk mengakui iuran tersebut sebagai pengurang dari biaya jasa dalam periode ketika jasa terkait diberikan, daripada alokasi iuran tersebut pada periode jasa.
• Amendment to SFAS No. 24: Employee Benefits on Defined benefit plans: employee contributions. SFAS 24 requires an entity to consider contributions from employees or third parties when accounting for defined benefit plans. Where the contributions are linked to service, they should be attributed to periods of service as a negative benefit. These amendments clarify that, if the amount of the contributions is independent of the number of years of service, an entity is permitted to recognise such contributions as a reduction in the service cost in the period in which the service is rendered, instead of allocating the contributions to the periods of service.
• PSAK No. 5 (Penyesuaian 2015): Segmen
Operasi. Penyesuaian ini mengklarifikasi:
- Entitas mengungkapkan pertimbangan yang dibuat manajemen dalam penerapan kriteria agregasi PSAK 5 paragraf 12 termasuk penjelasan singkat segmen operasi yang digabungkan dan karakteristik ekonomi.
- Pengungkapan rekonsiliasi aset segmen terhadap total aset jika rekonsiliasi dilaporkan kepada pengambil keputusan operasional, demikian juga untuk pengungkapan liabilitas segmen.
• SFAS No. 5 (2015 Improvement): Operating Segments. The improvement clarifies that: - An entity must disclose the
judgements made by management in applying the aggregation criteria in paragraph 12 of SFAS 5 including a brief description of operating segments that have been aggregated and the economic characteristics.
- Disclose the reconciliation of segment assets to total assets if the reconciliation is reported to the chief operating decision maker, similar to the required disclosure for segment liabilities.
• PSAK No. 7 (Penyesuaian 2015):
Pengungkapan Pihak-pihak Berelasi. Penyesuaian ini mengklarifikasi bahwa entitas manajemen (entitas yang menyediakan jasa personil manajemen kunci) adalah pihak berelasi yang dikenakan pengungkapan pihak berelasi. Dan entitas yang memakai entitas manajemen mengungkapkan biaya yang terjadi untuk jasa manajemennya.
• SFAS No. 7 (2015 Improvement): Related Party Disclosures. The improvement clarifies that a management entity (an entity that provides key management personnel services) is a related party subject to the related party disclosures. In addition, an entity that uses a management entity is required to disclose the expenses incurred for management services.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
32
2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)
u. Perubahan kebijakan akuntansi dan pengungkapan (lanjutan)
u. Changes in accounting policies and disclosures (continued)
• PSAK No. 16 (Penyesuaian 2015): Aset
Tetap. Penyesuaian ini mengklarifikasi bahwa dalam PSAK 16 dan PSAK 19 aset dapat direvaluasi dengan mengacu pada data pasar yang dapat diobservasi terhadap jumlah tercatat bruto ataupun neto. Dan akumulasi penyusutan atau amortisasi adalah perbedaan antara jumlah tercatat bruto dan jumlah tercatat aset tersebut. Jumlah tercatat aset tersebut disajikan kembali pada jumlah revaluasiannya.
• SFAS No. 16 (2015 Improvement): Property, Plant and Equipment. The improvement clarifies that in SFAS 16 and SFAS 19 that the asset may be revalued by reference to observable data on either the gross or the net carrying amount. In addition, the accumulated depreciation or amortisation is the difference between the gross and carrying amounts of the asset. Carrying amounts of the asset is restated by revaluated amounts.
• PSAK No. 25 (Penyesuaian 2015):
Kebijakan Akuntansi, Perubahan Estimasi Akuntansi dan Kesalahan. Penyesuaian ini memberikan koreksi editorial pada PSAK 25 paragraf 27.
• SFAS No. 25 (2015 Improvement): Accounting Policies, Changes in Accounting Estimates and Errors. The improvement provides editorial correction for paragraph 27 of SFAS 25.
• PSAK No. 68 (Penyesuaian 2015):
Pengukuran Nilai Wajar. Penyesuaian ini mengklarifikasi bahwa pengecualian portofolio dalam PSAK 68 dapat diterapkan tidak hanya kelompok aset keuangan dan liabilitas keuangan, tetapi juga diterapkan pada kontrak lain dalam ruang lingkup PSAK 55.
• SFAS No. 68 (2015 Improvement): Fair value Measurement. The improvement clarifies that the portfolio exception in SFAS 68 can be applied not only to financial assets and financial liabilities, but also to other contracts within the scope of SFAS 55.
Perseroan telah menganalisa penerapan standar akuntansi tersebut di atas dan penerapan tersebut tidak memiliki pengaruh yang signifikan terhadap laporan keuangan.
The Company has assessed that the adoption of the above mentioned accounting standards and do not have significant impact to the financial statements.
3. ESTIMASI DAN PERTIMBANGAN AKUNTANSI YANG PENTING
3. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS
Penyusunan laporan keuangan Perseroan mengharuskan manajemen untuk membuat pertimbangan, estimasi dan asumsi yang mempengaruhi jumlah yang dilaporkan atas pendapatan, beban, aset dan liabilitas dan pengungkapan atas liabilitas kontinjensi, pada akhir periode pelaporan.
The preparation of the Company’s financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities, at the end of the reporting period.
Ketidakpastian mengenai asumsi dan estimasi tersebut dapat mengakibatkan penyesuaian material terhadap nilai tercatat aset dan liabilitas dalam periode pelaporan berikutnya.
Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the asset and liability affected in future periods.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
33
3. ESTIMASI DAN PERTIMBANGAN AKUNTANSI YANG PENTING (lanjutan)
3. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS (continued)
Pertimbangan Judgments
Pertimbangan berikut ini dibuat oleh manajemen dalam rangka penerapan kebijakan akuntansi Perseroan yang memiliki pengaruh paling signifikan atas jumlah yang diakui dalam laporan keuangan:
The following judgments are made by management in the process of applying the Company’s accounting policies that have the most significant effects on the amounts recognized in the financial statements:
Klasifikasi Aset dan Liabilitas Keuangan Classification of Financial Assets and Financial
Liabilities
Perseroan menetapkan klasifikasi aset dan liabilitas tertentu sebagai aset keuangan dan liabilitas keuangan dengan mempertimbangkan bila definisi yang ditetapkan PSAK No. 55 (Revisi 2014) dipenuhi. Dengan demikian, aset keuangan dan liabilitas keuangan diakui sesuai dengan kebijakan akuntansi Perseroan seperti diungkapkan pada Catatan 2c.
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 SFAS No. 55 (Revised 2014). Accordingly, the financial assets and financial liabilities are accounted for in accordance with the Company’s accounting policies disclosed in Note 2c.
Sewa Leases
Perseroan mempunyai perjanjian-perjanjian sewa dimana perseroan bertindak sebagai lessee untuk sewa tempat. Perseroan mengevaluasi apakah terdapat risiko dan manfaat yang signifikan dari aset sewa yang diahlikan berdasarkan PSAK No. 30 (Revisi 2011), yang mensyaratkan Perseroan untuk membuat pertimbangan dengan estimasi dari pengalihan risiko dan manfaat terkait dengan kepemilikan aset.
The Company has several leases whereby the Company act as lessee in respect of rental location. The Company evaluates whether significant risks and rewards of ownership of the leased assets are transferred based on SFAS No. 30 (Revised 2011) which requires the Company to make judgment and estimates of the transfer of risks and rewards related to the ownership of assets.
Berdasarkan hasil penelaahan yang dilakukan Perseroan atas perjanjian sewa tempat yang ada saat ini, maka transaksi sewa tersebut diklasifikasikan sebagai sewa operasi.
di Based on the review performed by the Company for the current rental agreement of rental location accordingly, the rent transactions were classified as operating lease.
Sumber utama ketidakpastian estimasi Source of uncertainty in estimates
a. Cadangan kerugian penurunan nilai a. Allowance for impairment losses
Perseroan melakukan reviu atas piutang yang diberikan pada setiap tanggal laporan untuk melakukan penilaian atas cadangan penurunan nilai yang telah dicatat. Justifikasi manajemen diperlukan dalam menentukan tingkat cadangan yang dibutuhkan.
The Company reviews its receivables at reporting date to evaluate the allowance for impairment losses. Management’s judgment is applied in the estimation when determining the level of allowance required.
Perseroan membentuk cadangan kerugian penurunan nilai kolektif atas eksposur piutang pembiayaan konsumen dan piutang sewa pembiayaan, dimana evaluasi dilakukan berdasarkan data kerugian historis (lihat Catatan 2c).
The Company estimates the collective impairment allowance for its consumer financing receivables and finance lease receivables based on historical loss experience (refer to Note 2c).
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
34
3. ESTIMASI DAN PERTIMBANGAN AKUNTANSI YANG PENTING (lanjutan)
3. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS (continued)
Sumber utama ketidakpastian estimasi (lanjutan) Source of uncertainty in estimates (continued)
b. Imbalan pasca kerja b. Post-employment benefits
Imbalan pasca kerja ditentukan berdasarkan perhitungan aktuarial. Perhitungan aktuaria menggunakan asumsi-asumsi seperti tingkat diskonto, tingkat pengembalian investasi, tingkat kenaikan gaji, tingkat kematian, tingkat pengunduran diri dan lain-lain. Perubahan asumsi ini akan mempengaruhi jumlah tercatat liabilitas imbalan pasca kerja (lihat Catatan 2m).
Post-employment benefits are determined based on actuarial valuation. The actuarial valuation involves making assumptions about discount rate, expected rate of return, on investments, future salary increases, mortality rate, resignation rate and others. Any changes in these assumptions will impact the carrying amount of post-employment benefits obligations (refer to Note 2m).
c. Penyusutan dan estimasi umur manfaat aset
tetap c. Depreciation and estimated useful lives of
fixed assets
Biaya perolehan aset tetap disusutkan dengan menggunakan metode garis lurus berdasarkan estimasi masa manfaat ekonomisnya. Manajemen mengestimasi masa manfaat ekonomis aset tetap seperti diungkapkan pada Catatan 2k. Ini adalah umur yang secara umum diharapkan dalam industri dimana Perusahaan menjalankan bisnisnya. Perubahan tingkat pemakaian dan perkembangan teknologi dapat mempengaruhi masa manfaat ekonomis dan nilai sisa aset, dan karenanya biaya penyusutan masa depan mungkin direvisi.
The costs of fixed assets are depreciated on a straight-line method over their estimated useful lives. Management properly estimates the useful lives of these fixed assets as disclosed in Note 2k. These are common life expectancies applied in the industries where the Company conducts its businesses. Changes in the expected level of usage and technological development could impact the economic useful lives and the residual values of these assets, and therefore future depreciation charges could be revised.
d. Pajak penghasilan d. Income Tax
Pertimbangan signifikan dilakukan dalam menentukan provisi atas pajak penghasilan badan. Terdapat transaksi dan perhitungan tertentu yang penentuan pajak akhirnya adalah tidak pasti sepanjang kegiatan usaha normal. Perusahaan mengakui liabilitas atas pajak penghasilan badan berdasarkan estimasi apakah terdapat tambahan pajak penghasilan badan.
Significant judgment is involved in determining provision for corporate income tax. There are certain transaction and computation for which the ultimate tax determination is uncertain during the ordinary course of business. The Company recognizes liabilities for expected corporate income tax issues based on estimates of whether additional corporate income tax will be due.
e. Pajak tangguhan e. Deferred tax assets
Aset pajak tangguhan diakui atas jumlah pajak penghasilan terpulihkan (recoverable) pada periode mendatang sebagai akibat perbedaan temporer yang boleh dikurangkan.
Deferred tax assets are recognized for the future recoverable taxable income arising from temporary difference.
Justifikasi manajemen diperlukan untuk menentukan jumlah aset pajak tangguhan yang dapat diakui, sesuai dengan waktu yang tepat dan tingkat laba fiskal di masa mendatang sejalan dengan strategi rencana perpajakan ke depan (Catatan 2l).
Management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing on level of future taxable profits together with future strategic planning (Note 2l).
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
35
4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS
31 Desember/ 31 Desember/ December 2016 December 2015
Kas 24.074 19.938 Cash on hand
Kas pada bank Cash in banks Pihak ketiga Third parties Rupiah Rupiah PT Bank Central Asia Tbk 17.587 2.792 PT Bank Central Asia Tbk PT Bank Panin Tbk 3.292 28 PT Bank Panin Tbk PT BPR Karyajatnika Sadaya 364 117 PT BPR Karyajatnika Sadaya PT Bank Danamon Indonesia Tbk 36 16 PT Bank Danamon Indonesia Tbk PT Bank CIMB Niaga Tbk 35 36 PT Bank CIMB Niaga Tbk PT Bank KEB Hana Indonesia 21 26 PT Bank KEB Hana Indonesia PT Bank Mega Tbk 23 23 PT Bank Mega Tbk Bank of China Limited, Cabang Jakarta 23 31 Bank of China Limited, Jakarta Branch PT Bank Commonwealth 23 34 PT Bank Commonwealth PT Bank CTBC Indonesia 19 13 PT CTBC Indonesia PT Bank OCBC NISP Tbk 18 20 PT Bank OCBC NISP Tbk The Hongkong & Shanghai The Hongkong & Shanghai Banking Corporation Limited, Banking Corporation Limited, Cabang Jakarta 13 19 Jakarta Branch Bank of Tokyo Mitsubishi UFJ, Ltd, Bank of Tokyo Mitsubishi UFJ, Ltd, Cabang Jakarta 7 - Jakarta Branch PT Bank UOB Indonesia 3 3 PT Bank UOB Indonesia PT Bank Bukopin Tbk 1 11 PT Bank Bukopin Tbk
21.465 3.169
Pihak berelasi Related parties Rupiah Rupiah PT Bank Mandiri (Persero) Tbk 160.950 17.634 PT Bank Mandiri (Persero) Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 1.296 1.035 (Persero) Tbk PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 43 75 (Persero) Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 24 23 Jawa Barat and Banten Tbk PT Bank DKI 14 47 PT Bank DKI PT Bank Mandiri Taspen Pos 7 24 PT Bank Mandiri Taspen Pos
162.334 18.838
Deposito berjangka Time deposits Pihak ketiga Third parties Rupiah Rupiah PT Bank Mega Tbk 18 18 PT Bank Mega Tbk Pihak Berelasi Related Parties Rupiah Rupiah PT Bank Mandiri Taspen Pos 50.000 50.000 PT Bank Mandiri Taspen Pos PT Bank Tabungan Negara PT Bank Tabungan Negara (Persero) Tbk 3 3 (Persero) Tbk
50.003 50.003
257.894 91.966
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
36
4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)
Tingkat suku bunga deposito berjangka dan giro dalam mata uang Rupiah untuk tahun yang berakhir pada tanggal 31 Desember 2016 dan 2015 berkisar sebagai berikut:
The interest rates for time deposits and current accounts for years ended 31 December 2016 and 2015 are as follows:
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Deposito 4,75% - 8,50% 4,75% - 9,25% Time deposits Giro 0,00% - 3,00% 0,00% - 3,00% Current accounts
Penempatan deposito pada PT Bank Mandiri Taspen Pos (dahulu PT Bank Sinar Harapan Bali) sebesar Rp50.000 adalah penempatan atas dana hasil usaha yang berasal dari laba neto Perseroan seperti yang dipersyaratkan oleh Undang-Undang No. 40 pasal 70 tentang “Perseroan Terbatas” yaitu kewajiban perusahaan untuk melakukan pencadangan atas jumlah tertentu dari laba neto setiap tahun.
Placement of time deposit at PT Bank Mandiri Taspen Pos (formerly PT Bank Sinar Harapan Bali) amounting to Rp50,000 represents the placement of the funds derived from the Company’s net income as required by Law No. 40 article 70 concerning “Limited Liability Companies” whereby the Company shall make a provision for a certain amount of the net income each year.
Lihat Catatan 24a untuk rincian saldo dan transaksi dengan pihak berelasi.
Refer to Note 24a for details of balances and transaction with related parties.
5. PIUTANG PEMBIAYAAN KONSUMEN 5. CONSUMER FINANCING RECEIVABLES
31 Desember/ 31 Desember/ December 2016 December 2015
Piutang pembiayaan konsumen - bruto: 37.089.670 32.076.228 Consumer financing receivables - gross:
Dikurangi: Less: Piutang pembiayaan yang dibiayai bersama pihak-pihak lain Joint financing without recourse - bruto: without recourse - gross: Rupiah Rupiah Pihak berelasi (23.690.880) (20.906.390) Related parties
Piutang pembiayaan konsumen - bruto: Consumer financing receivables - gross: Pembiayaan sendiri 13.398.790 11.169.838 Direct financing
Dikurangi: Less: Pendapatan pembiayaan konsumen Unearned income yang belum diakui: on consumer financing:
Rupiah Rupiah Pihak Ketiga (6.651.761) (5.921.893) Third parties
Dikurangi: Less: Piutang pembiayaan yang dibiayai bersama pihak-pihak lain Joint financing without recourse - bruto: without recourse - gross:
Rupiah Rupiah Pihak berelasi 3.220.492 2.905.967 Related parties
Pendapatan pembiayaan Unearned income on consumer konsumen yang belum diakui: financing: Pembiayaan sendiri (3.431.269) (3.015.926) Direct financing
Dikurangi: Less: Cadangan kerugian penurunan nilai (298.650) (270.477) Allowance for impairment losses
Neto 9.668.871 7.883.435 Net
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
37
5. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 5. CONSUMER FINANCING RECEIVABLES (continued)
Seluruh kontrak pembiayaan yang disalurkan Perseroan adalah untuk kendaraan bermotor, multiguna dan investasi.
All consumer financing contracts provided by Company are for motor vehicles, multipurpose, and investment.
Jangka waktu kontrak pembiayaan yang disalurkan oleh Perseroan atas kendaraan bermotor berkisar antara 12 - 84 bulan.
The period of consumer financing contracts for motor vehicles ranged between 12 - 84 months.
Angsuran dari saldo piutang pembiayaan konsumen - bruto per 31 Desember 2016 dan 2015 yang akan diterima dari konsumen berdasarkan tanggal jatuh temponya adalah sebagai berikut:
Installments of consumer financing receivables - gross balance as of 31 December 2016 and 2015 which will be received from customers based on the maturity dates are as follows:
31 Desember/ 31 Desember/ December 2016 December 2015
Tahun 2016 - 12.899.697 2016 2017 14.958.019 9.804.759 2017 2018 11.168.998 6.118.129 2018 2019 6.820.529 2.590.086 2019 2020 3.181.878 644.875 2020 2021 912.824 14.246 2021 2022 dan sesudahnya 47.422 4.436 2022 and onward
37.089.670 32.076.228
Rata-rata suku bunga efektif yang dikenakan kepada konsumen untuk tahun yang berakhir pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
Average effective interest rates charged to customers for the years ended 31 December 2016 and 2015 are as follows:
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Mobil 14,06% 16,14% Car Sepeda Motor 21,82% 35,31% Motorcycle Multiguna 15,47% - Multipurpose Investasi 13,31% - Investment
Analisa umur piutang pembiayaan konsumen - bruto adalah sebagai berikut:
The aging analysis of consumer financing receivables - gross are as follows:
31 Desember/ 31 Desember/ December 2016 December 2015
Belum jatuh tempo 34.725.908 30.110.436 Current Lewat jatuh tempo: Overdue: 1 - 90 hari 1.810.050 1.587.084 1 - 90 days 91 - 120 hari 193.538 152.753 91 - 120 days 121 - 180 hari 294.660 198.164 121 - 180 days > 180 hari 65.514 27.791 > 180 days
37.089.670 32.076.228
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
38
5. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 5. CONSUMER FINANCING RECEIVABLES (continued)
Mutasi cadangan kerugian penurunan nilai untuk tahun yang berakhir pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
The movements in the allowance for impairment losses for years ended 31 December 2016 and 2015 are as follows:
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Saldo awal 270.477 194.852 Beginning balance Penyisihan selama tahun berjalan 426.997 291.487 Provision made during the year Penghapusan piutang ragu-ragu (451.285) (256.503) Receivables written-off Pemulihan kembali piutang Recovery from receivables yang telah dihapusbukukan 52.461 40.641 written-off
Saldo akhir 298.650 270.477 Ending balance
Seluruh piutang pembiayaan konsumen pada tanggal 31 Desember 2016 dan 2015 dievaluasi secara kolektif terhadap penurunan nilai dan Perseroan telah mencadangkan cadangan kerugian penurunan nilai.
All consumer financing receivables as of 31 December 2016 and 2015 are collectively evaluated for impairment and the Company has provided allowance for impairment losses.
Piutang pembiayaan konsumen yang direstrukturisasi pada tanggal 31 Desember 2016 adalah sebesar 0,2199% dari saldo piutang pembiayaan konsumen - bruto (31 Desember 2015: 0,5501%).
The balance of restructured consumer financing receivables as of 31 December 2016 was 0.2199% of the consumer financing receivables balance - gross (31 December 2015: 0.5501%).
Pada tanggal 31 Desember 2016, piutang pembiayaan konsumen yang digunakan sebagai jaminan atas pinjaman bank yang diterima oleh Perseroan dan utang obligasi seperti yang dijelaskan pada Catatan 14 dan 15 adalah sejumlah Rp6.103.601 (31 Desember 2015: Rp4.813.548).
As of 31 December 2016, total consumer financing receivables pledged as collateral for bank loans and bonds payable as disclosed in Notes 14 and 15 amounted to Rp6,103,601 (31 December 2015: Rp4,813,548).
Manajemen berkeyakinan bahwa cadangan kerugian penurunan nilai tersebut adalah cukup untuk menutupi kemungkinan kerugian dari tidak tertagihnya piutang pembiayaan konsumen.
Management believes that the allowance for impairment losses is sufficient to cover any possible losses from uncollectible consumer financing receivables.
6. PIUTANG SEWA PEMBIAYAAN 6. FINANCE LEASE RECEIVABLES 31 Desember/ 31 Desember/ December 2016 December 2015
Piutang sewa pembiayaan Finance lease receivables Pihak ketiga Third parties Rupiah Rupiah Piutang sewa pembiayaan - bruto 975.598 700.117 Finance lease receivable - gross Nilai sisa yang terjamin 317.305 226.130 Guaranteed residual value Pendapatan sewa pembiayaan yang ditangguhkan (141.115) (95.967) Unearned leased income Simpanan jaminan (317.305) (226.130) Security deposit
Piutang sewa pembiayaan 834.483 604.150 Finance lease receivable Cadangan kerugian penurunan nilai (4.538) (5.791) Allowance for impairments losses
Neto 829.945 598.359 Net
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
39
6. PIUTANG SEWA PEMBIAYAAN (lanjutan) 6. FINANCE LEASE RECEIVABLES (continued)
Jangka waktu kontrak pembiayaan yang disalurkan oleh Perseroan atas kendaraan bermotor dan alat berat berkisar antara 12 - 60 bulan.
The period of consumer financing contracts for motor vehicles and heavy equipment ranged between 12 - 60 months.
Piutang sewa pembiayaan - bruto sesuai dengan tanggal jatuh temponya:
Finance lease receivables - gross based on maturity date:
31 Desember/ 31 Desember/ December 2016 December 2015
Tahun Year 2016 - 380.726 2016 2017 475.659 216.434 2017 2018 303.444 90.783 2018 2019 153.503 9.983 2019 2020 dan seterusnya 42.992 2.191 2020 and onward
975.598 700.117
Mutasi cadangan kerugian penurunan nilai untuk tahun yang berakhir pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
The movements in the allowance for impairment losses for the years ended 31 December 2016 and 2015 are as follows:
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Saldo awal 5.791 17.213 Beginning balance Penyisihan (pemulihan) selama Provision for (reversal of) tahun berjalan 196 (2.356) during the year Penghapusan piutang (4.167) (9.380) Receivables written-off Pemulihan kembali piutang yang telah dihapusbukukan 2.718 314 Recovery of written-off receivables
Saldo akhir 4.538 5.791 Ending balance
Seluruh piutang sewa pembiayaan pada tanggal 31 Desember 2016 dan 2015 dievaluasi secara kolektif terhadap penurunan nilai dan Perseroan telah mencadangkan cadangan kerugian penurunan nilai.
All finance lease receivables as of 31 December 2016 dan 2015 are collectively evaluated for impairment and the Company has provided allowance for impairment losses.
Rata-rata suku bunga efektif yang dikenakan kepada konsumen untuk tahun yang berakhir pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
Average effective interest rates charged to customers for years ended 31 December 2016 and 2015 are as follows:
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Mobil 13,09% 17,88% Car Alat berat 12,60% 13,85% Heavy equipment
Analisa umur piutang sewa pembiayaan - bruto adalah sebagai berikut:
The aging analysis of finance lease receivables - gross are as follows:
31 Desember/ 31 Desember/ December 2016 December 2015
Belum jatuh tempo 922.613 656.870 Current
Lewat jatuh tempo: Overdue: 1 - 90 hari 39.393 39.668 1 - 90 days 91 - 120 hari 6.904 1.883 91 - 120 days 121 - 180 hari 6.538 1.562 121 - 180 days > 180 hari 150 134 > 180 days
975.598 700.117
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
40
6. PIUTANG SEWA PEMBIAYAAN (lanjutan) 6. FINANCE LEASE RECEIVABLES (continued)
Pada saat transaksi sewa pembiayaan ditandatangani, penyewa pembiayaan memberikan uang jaminan yang akan diperhitungkan dengan nilai jual aset sewa pembiayaan pada saat transaksi berakhir bila penyewa pembiayaan menggunakan hak opsinya untuk membeli aset sewa pembiayaan tersebut. Jika penyewa tidak menggunakan hak opsinya, jaminan tersebut akan dikembalikan kepada penyewa pembiayaan.
Upon signing of lease contracts, the lessee is required to pay a security deposit, which will be applied against the selling price of the leased asset at the end of the lease term if the lessee exercises his option to purchase the leased asset. Otherwise, the security deposit will be refunded to the lessee.
Pada tanggal 31 Desember 2016 dan 2015, piutang sewa pembiayaan yang digunakan sebagai jaminan atas pinjaman bank yang diterima oleh Perseroan dan utang obligasi seperti yang dijelaskan pada Catatan 14 dan 15 adalah sejumlah Rp432.874 (31 Desember 2015: Rp396.317).
As of 31 December 2016 and 2015, total finance lease receivables pledged as collateral for bank loans and bonds payable as disclosed in Notes 14 and 15 amounted to Rp432,874 (31 December 2015: Rp396,317).
Manajemen berpendapat bahwa jumlah cadangan kerugian penurunan nilai yang dibentuk adalah cukup untuk menutup kerugian yang mungkin timbul akibat tidak tertagihnya piutang sewa pembiayaan.
Management believes that the existing allowance for impairment losses is adequate to cover possible losses arising from uncollectible finance lease receivable.
7. PIUTANG LAIN-LAIN 7. OTHER RECEIVABLES 31 Desember/ 31 Desember/ December 2016 December 2015
Pihak ketiga Third parties Piutang asuransi 15.500 21.775 Insurance receivables Piutang akseptasi klaim 34.162 32.114 Claim acceptance receivables Receivables from sales of collateral Piutang penjualan kendaraan jaminan 6.921 8.637 vehicle Lain-lain 12.837 14.397 Others
69.420 76.923
Dikurangi: Less: Cadangan kerugian penurunan nilai (785) (785) Allowance for impairment losses
68.635 76.138
Pihak berelasi Related parties Piutang pembiayaan bersama 227.994 354.313 Joint financing receivables Piutang akseptasi klaim 45.971 33.488 Claim acceptance receivables Lain-lain 620 620 Others
274.585 388.421
343.220 464.559
Lihat catatan 24a untuk rincian saldo dan transaksi dengan pihak berelasi.
Refer to Note 24a for details of balances and transactions with related parties.
Mutasi cadangan kerugian penurunan nilai untuk tahun yang berakhir pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
The movements in the allowance for impairment losses for the years ended 31 December 2016 and 2015 are as follows:
31 Desember/ 31 Desember/ December 2016 December 2015
Saldo awal 785 794 Beginning balance Pembalikan selama tahun berjalan - (9) Reversal made during the year
Saldo akhir 785 785 Ending balance
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
41
7. PIUTANG LAIN-LAIN (lanjutan) 7. OTHER RECEIVABLES (continued)
Manajemen berkeyakinan bahwa cadangan kerugian penurunan nilai adalah cukup untuk menutupi kemungkinan kerugian dari tidak tertagihnya piutang.
Management believes that the allowance for impairment losses is sufficient to cover any possible losses from uncollectible receivables.
8. PERPAJAKAN 8. TAXATION
a. Tagihan Kelebihan Pajak a. Claim for tax refund 31 Desember/ 31 Desember/ December 2016 December 2015
Pajak pertambahan nilai: Value added tax: Tahun pajak 2011 14.582 - Fiscal year 2011 Tahun pajak 2012 21.442 - Fiscal year 2012 Tahun pajak 2013 29.495 - Fiscal year 2013
65.519 - Pajak penghasilan badan: Corporate income tax: Tahun pajak 2013 19 - Fiscal year 2013
65.538 -
b. Utang pajak kini b. Current tax liabilities
31 Desember/ 31 Desember/ December 2016 December 2015
Pajak penghasilan badan 5.300 12.066 Corporate income tax Pasal 25 8.294 8.396 Article 25
13.594 20.462
c. Beban pajak c. Tax expense
Tahun yang Berakhir pada tanggal 31 Desember /Year ended 31 December
2016 2015
Kini - final 2.020 1.534 Current - final Kini - non final 113.600 107.727 Current - non final Tangguhan (lihat Catatan 8d) (2.105) (5.217) Deferred (refer to Note 8d)
113.515 104.044
Rekonsiliasi antara beban pajak penghasilan dengan hasil perkalian laba akuntansi sebelum pajak penghasilan dan tarif pajak yang berlaku adalah sebagai berikut:
The reconciliation between income tax expense and the theoretical tax amount on the Company’s income before tax expense are as follows:
Tahun yang Berakhir pada tanggal 31 Desember / Year ended 31 December
2016 2015
Laba sebelum beban pajak Income before income tax penghasilan 448.885 410.844 expense Pajak dihitung pada tarif pajak 112.221 102.711 Tax calculated at tax rates Penghasilan bunga dikenakan Interest income subject to pajak final (2.525) (1.918) final tax Beban yang tidak dapat dikurangkan 1.799 1.717 Non-deductible expenses Pajak penghasilan pasal 4 (2) - final 2.020 1.534 Income tax article 4 (2) - final
Beban pajak 113.515 104.044 Tax expense
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
42
8. PERPAJAKAN (lanjutan) 8. TAXATION (continued)
c. Beban pajak (lanjutan) c. Tax expense (continued)
Rekonsiliasi antara laba sebelum beban pajak menurut laporan laba rugi dan penghasilan komprehensif lain dengan penghasilan kena pajak adalah sebagai berikut:
Reconciliation between income before tax expense, as shown in the statement of profit or loss and other comprehensive income, and estimated taxable income is as follows:
Tahun yang Berakhir pada tanggal 31 Desember / Year ended 31 December
2016 2015
Laba sebelum beban pajak Income before income tax penghasilan 448.885 410.844 expense
Koreksi fiskal: Fiscal corrections: Beda temporer Temporary differences Penyisihan kerugian penurunan nilai - (9) Provision for impairment losses Selisih antara nilai buku aset Difference in net book value tetap komersial dan fiskal (1.141) 1.772 between commercial and fiscal Penyisihan imbalan kerja karyawan 9.320 8.057 Provision for employee benefits Penyisihan bonus (278) 10.400 Provision for bonus Penyisihan pos suspend 518 647 Provision for suspend accounts
8.419 20.867 Beda tetap Permanent differences Beban yang tidak dapat dikurangkan 7.194 6.868 Non-deductible expenses Penghasilan bunga dikenakan pajak final (10.099) (7.672) Interest income subject to final tax
(2.905) (804)
Penghasilan kena pajak 454.399 430.907 Taxable income
Beban pajak 113.600 107.727 Tax expense Dikurangi: Less: Pajak dibayar di muka Prepaid taxes Pasal 23 (4.872) (4.207) Article 23 Pasal 25 (103.428) (91.454) Article 25
Utang pajak penghasilan badan 5.300 12.066 Corporate income tax payable
Pendapatan bunga yang Interest income dikenakan pajak final 10.099 7.672 subject to final tax
Pajak penghasilan pasal 4 (2) - final 2.020 1.534 Income tax article 4 (2) - final Dikurangi: Less: Pajak dibayar di muka (2.020) (1.534) Prepaid tax
- -
Laba kena pajak hasil rekonsiliasi tahun 2016 dan 2015 menjadi dasar dalam pengisian Surat Pemberitahuan Tahunan (SPT) Pajak Penghasilan Badan.
Taxable income which is a result from the reconciliation for the years 2016 and 2015 will be used as basis in submission of the Company’s Annual Corporate Tax Return.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
43
8. PERPAJAKAN (lanjutan) 8. TAXATION (continued)
d. Aset/(liabilitas) pajak tangguhan - neto d. Deferred tax assets/(liabilities) - net 31 Desember/December 2016
Manfaat (beban) pajak tangguhan/ Saldo awal/ Deferred tax Saldo akhir/ Beginning income Ending balance (expenses) balance
Aset pajak tangguhan dampak dari laporan Deferred tax assets effect laba rugi dan from statement of penghasilan profit or loss and other komprehensif lain comprehensive income Cadangan kerugian Allowance for penurunan nilai 196 - 196 impairment losses Selisih antara nilai buku Difference in net book value aset tetap komersial of fixed assets between dan fiskal 750 (286) 464 commercial and fiscal Penyisihan imbalan Provision for employee kerja karyawan 5.306 2.330 7.636 benefits Penyisihan bonus 9.375 (69) 9.306 Provision for bonus Penyisihan pos suspend 449 130 579 Provision for suspend accounts
Aset pajak tangguhan Deferred tax assets effect dampak dari ekuitas from equity Pengukuran kembali atas liabilitas imbalan Remeasurement of employee kerja karyawan 3.831 1.067 4.898 benefits obligation
19.907 3.172 23.079
31 Desember/December 2015
Manfaat (beban) pajak tangguhan/ Saldo awal/ Deferred tax Saldo akhir/ Beginning income Ending balance (expenses) balance
Aset pajak tangguhan dampak dari laporan Deferred tax assets effect laba rugi dan from statement of penghasilan profit or loss and other komprehensif lain comprehensive income Cadangan kerugian Allowance for penurunan nilai 198 (2) 196 impairment losses Selisih antara nilai buku Difference in net book value aset tetap komersial of fixed assets between dan fiskal 307 443 750 commercial and fiscal Penyisihan imbalan Provision for employee kerja karyawan 3.291 2.015 5.306 benefits Penyisihan bonus 6.775 2.600 9.375 Provision for bonus Penyisihan pos suspend 288 161 449 Provision for suspend accounts Aset pajak tangguhan Deferred tax assets effect dampak dari ekuitas from equity Pengukuran kembali atas liabilitas imbalan Remeasurement of employee kerja karyawan 2.026 1.805 3.831 benefits obligation
12.885 7.022 19.907
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
44
8. PERPAJAKAN (lanjutan) 8. TAXATION (continued)
e. Surat ketetapan pajak e. Tax assessment letter
Tahun pajak 2013, 2012 dan 2011 Fiscal year 2013, 2012 and 2011
Pada tanggal 25 Januari 2016 dan 25 Oktober 2016, Perseroan menerima Surat Ketetapan Pajak Kurang Bayar (SKPKB) dan Surat Tagihan Pajak (STP) atas berbagai macam pajak untuk tahun pajak 2013, 2012 dan 2011, yang menghasilkan jumlah kurang bayar sebesar Rp172.497. Atas kurang bayar tersebut, Perseroan telah melakukan pembayaran sebesar Rp67.634, dimana dari pembayaran tersebut, Perseroan telah mengajukan keberatan sebesar Rp65.538 dan sebesar Rp2.096 dicatat sebagai Beban denda pajak di dalam laporan laba rugi dan penghasilan komprehensif lain. Untuk jumlah yang belum dibayarkan sebesar Rp104.863, Perseroan sudah dalam proses mengajukan keberatan ke Kantor Pajak.
On 25 January 2016 and 25 October 2016, the Company received an underpayment tax assessment letter (SKPKB) and tax billing (STP) on various taxes for fiscal years 2013, 2012 and 2011, which resulted in net tax underpayment of Rp172,497. For this underpayment, the Company has paid the amount of Rp67,634 and for the said payment, the Company has submitted an objection for the amount of Rp65,538 and the amount of Rp2,096 was recorded as tax penalty in the statement of profit or loss and other comprehensive income. For the remaining unpaid balance amounting to Rp104,863, the Company in the process of objection to the Tax Office.
f. Administrasi f. Administration
Berdasarkan Undang-Undang Perpajakan yang berlaku di Indonesia, Perseroan menghitung, menetapkan dan membayar sendiri besarnya jumlah pajak yang terutang. Direktur Jenderal Pajak dapat menetapkan atau mengubah liabilitas pajak dalam jangka waktu tertentu. Untuk tahun pajak 2008 dan seterusnya, jangka waktunya adalah lima tahun sejak saat terutangnya pajak.
Under the Taxation Laws of Indonesia, the Company submits tax returns on the basis of self assessment. The Director General of Taxesmay assess or amend taxes within a certain period. For the fiscal years of 2008 and onwards, the period is within five years from the time the tax becomes due.
9. ASET TETAP 9. FIXED ASSETS 31 Desember/December 2016
1 Januari/ Penambahan/ (Pengurangan)/ Reklasifikasi/ 31 Desember/ January Additions (Deductions) Reclassifications December
Aset tetap Fixed assets Kepemilikan langsung Direct ownership Harga perolehan Cost Tanah 28.585 - - 5.758 34.343 Land Bangunan 28.960 - - 4.026 32.986 Buildings Kendaraan 6 13 (6) - 13 Vehicles Perabotan dan peralatan kantor 84.894 30.784 (3.110) - 112.568 Furniture and office equipment Renovasi bangunan sewa 22.495 3.422 - - 25.917 Leasehold improvement Aset dalam penyelesaian 200 25.138 - (9.784) 15.554 Construction in progress
165.140 59.357 (3.116) - 221.381
Akumulasi penyusutan Accumulated depreciation Bangunan (3.528) (1.362) - - (4.890) Buildings Kendaraan (2) (3) 3 - (2) Vehicles Perabot dan peralatan kantor (41.831) (15.574) 3.106 - (54.299) Furniture and office equipment Renovasi bangunan sewa (16.927) (3.941) - - (20.868) Leasehold improvement
(62.288) (20.880) 3.109 - (80.059)
Nilai buku neto 102.852 141.322 Net book value
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
45
9. ASET TETAP (lanjutan) 9. FIXED ASSETS (continued) 31 Desember/December 2015
1 Januari/ Penambahan/ (Pengurangan)/ Reklasifikasi/ 31 Desember/ January Additions (Deductions) Reclassifications December
Aset tetap Fixed assets Kepemilikan langsung Direct ownership Harga perolehan Cost Tanah 21.779 - - 6.806 28.585 Land Bangunan 17.569 15 - 11.376 28.960 Buildings Kendaraan 6 - - - 6 Vehicles Perabotan dan peralatan kantor 62.132 23.888 (1.126) - 84.894 Furniture and office equipment Renovasi bangunan sewa 18.786 3.709 - - 22.495 Leasehold improvement Aset dalam penyelesaian - 18.382 - (18.182) 200 Construction in progress
120.272 45.994 (1.126) - 165.140
Akumulasi penyusutan Accumulated depreciation Bangunan (2.262) (1.266) - - (3.528) Buildings Kendaraan (1) (1) - - (2) Vehicles Perabot dan peralatan kantor (31.132) (11.822) 1.123 - (41.831) Furniture and office equipment Renovasi bangunan sewa (12.346) (4.581) - - (16.927) Leasehold improvement
(45.741) (17.670) 1.123 - (62.288)
Nilai buku neto 74.531 102.852 Net book value
Rincian aset dalam penyelesaian pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
Details of construction in progress as of 31 December 2016 and 2015 are as follows:
31 Desember/December 2016
Estimasi tahun Persentase penyelesaian/ penyelesaian/ Jumlah/ Estimated year Percentage of Amount of completion completion
Renovasi dalam penyelesaian untuk pembukaan jaringan Renovation in progress usaha baru 15.554 2017 92% for new business networks
15.554
31 Desember/December 2015
Estimasi tahun Persentase penyelesaian/ penyelesaian/ Jumlah/ Estimated year Percentage of Amount of completion completion
Renovasi dalam penyelesaian untuk pembukaanjaringan Renovation in progress usaha baru 200 2016 5% for new business networks
200
Seluruh aset tetap kepemilikan langsung kecuali tanah, telah diasuransikan dengan pihak berelasi, PT Mandiri Axa General Insurance dengan jumlah pertanggungan asuransi sebesar Rp115.700 pada tanggal 31 Desember 2016 dan PT Asuransi Raksa Pratikara (pihak ketiga) sebesar Rp84.250 per 31 Desember 2015 yang menurut manajemen cukup untuk menutupi kemungkinan kerugian karena kebakaran, kebanjiran, huru-hara dan gempa bumi.
Directly owned fixed assets, except for land, are insured with a related party, PT Mandiri Axa General Insurance, for a sum insured of Rp115,700 as of 31 Desember 2016 and PT Asuransi Raksa Pratikara (third party) for a sum insured of Rp84,250 of 31 December 2015 which according to the management is sufficient to cover possible losses due to fire, flood, public disorder/riots and earthquake.
Tanah Perseroan berupa sertifikat Hak Guna Bangunan (“HGB”) yang mempunyai masa manfaat selama 20 sampai dengan 30 tahun yang akan jatuh tempo antara 21 Oktober 2017 sampai dengan 24 September 2027. Manajemen berpendapat bahwa HGB tersebut dapat diperbaharui atau diperpanjang pada saat jatuh tempo.
Land is held in the form of certificates of Hak Guna Bangunan (“HGB”) which have useful lives of 20 to 30 years, which will be due ranging from 21 October 2017 to 24 September 2027. Management believes that the HGB can be renewed or extended upon expiration.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
46
9. ASET TETAP (lanjutan) 9. FIXED ASSETS (continued)
Rincian keuntungan atas pelepasan aset tetap adalah sebagai berikut:
Details of gain on disposal of fixed assets are as follows:
Tahun yang berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Hasil pelepasan aset tetap 89 20 Proceed from disposal of fixed assets Nilai buku aset tetap (7) (3) Book value
Laba atas pelepasan aset tetap 82 17 Gain on disposal of fixed assets
Keuntungan atas pelepasan aset tetap diakui sebagai bagian dari “pendapatan lain-lain” pada laporan laba rugi dan penghasilan komprehensif lain.
Gain on disposal of fixed assets is recognized as part of “other income” in the statement of profit or loss and other comprehensive income.
Manajemen berpendapat tidak terdapat indikasi penurunan nilai atas aset tetap yang dimiliki Perseroan pada tanggal 31 Desember 2016 dan 2015.
Management believes that there is no impairment of Company’s fixed assets as of 31 December 2016 and 2015.
Pada tanggal 31 Desember 2016 dan 2015, jumlah bruto dari aset tetap yang telah disusutkan penuh dan masih digunakan adalah masing-masing sebesar Rp39.942 dan Rp30.495.
As of 31 December 2016 and 2015, the gross amount of fixed assets which have been fully depreciated and still being used amounted to Rp39,942 and Rp30,495, respectively.
Tidak ada aset tetap yang dijadikan jaminan pada tanggal 31 Desember 2016 dan 2015.
There were no fixed assets pledged as collateral as of 31 December 2016 and 2015.
10. ASET LAIN-LAIN 10. OTHER ASSETS
31 Desember/ 31 Desember/ December 2016 December 2015
Pihak ketiga Third parties Setoran dalam perjalanan 35.160 20.216 Deposit in transit Sewa dibayar di muka 17.271 14.283 Prepaid rent Uang muka 7.616 814 Advance payments Setoran jaminan 2.334 1.811 Security deposits Piutang karyawan 449 110 Employee receivables Piutang bunga 198 231 Interest receivable Asuransi dibayar di muka 186 228 Prepaid insurance Perbaikan dan pemeliharaan dibayar di muka - 130 Prepaid service and maintenance Lain-lain 9.847 3.258 Others
73.061 41.081 Pihak berelasi Related parties Sewa dibayar di muka 1.132 835 Prepaid rent
74.193 41.916
Lain-lain merupakan persediaan materai Perseroan, biaya provisi dibayar di muka dan biaya dibayar di muka.
Others mainly represents the Company’s stamp duty, prepaid provision cost and prepaid expenses.
Lihat Catatan 24a untuk rincian saldo dan transaksi dengan pihak berelasi.
Refer to Note 24a for details of balances and transactions with related parties.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
47
11. UTANG USAHA 11. TRADE PAYABLES 31 Desember/ 31 Desember/ December 2016 December 2015
Pihak ketiga Third parties Utang kendaraan 472.535 279.356 Vehicle payables Utang asuransi 121.375 110.906 Insurance payables
593.910 390.262
Utang usaha merupakan utang kepada pemasok atas pembiayaan kendaraan bermotor dan utang kepada perusahaan asuransi yang berkaitan dengan pembiayaan kendaraan bermotor.
Trade payables represent payables to suppliers for motor vehicle financing and payables to insurance companies in relation to motor vehicle financing.
12. UTANG LAIN-LAIN 12. OTHER PAYABLES 31 Desember/ 31 Desember/ December 2016 December 2015
Pihak ketiga Third parties Titipan konsumen 46.444 40.475 Customer deposits Liabilitas pajak Tax liabilities Pasal 21 6.202 5.763 Article 21 Pasal 23 1.057 1.290 Article 23 PPh final 209 116 Final tax PPN keluaran 74.759 46.359 VAT out Lain-lain 21.377 16.202 Others
150.048 110.205
Pihak berelasi Related parties Pembiayaan bersama 106.493 44.563 Joint financing Lain-lain 240 240 Others
106.733 44.803
256.781 155.008
Titipan konsumen terutama berhubungan dengan cicilan pembayaran piutang pembiayaan konsumen yang masih dalam proses identifikasi.
Customer deposits represent installment of consumer financing receivables which are still in identification process.
Lain-lain terutama terdiri dari utang kepada pihak ketiga yang berkaitan dengan biaya notaris, fidusia, dan pembelian aset tetap.
Others mainly consist of payables to third parties related to notary fee, fiduciary, and purchasing of fixed assets.
Lihat Catatan 24b untuk rincian saldo dan transaksi pihak berelasi.
Refer to Note 24b for details of balances and transactions with related parties.
13. BEBAN YANG MASIH HARUS DIBAYAR 13. ACCRUED EXPENSES 31 Desember/ 31 Desember/ December 2016 December 2015
Pihak ketiga Third parties Gaji dan tunjangan 37.338 39.456 Salaries and allowances Bunga yang masih harus dibayar 37.189 20.802 Accrued interest Promosi 4.465 17.339 Promotion Telepon 1.581 1.595 Telephone Jasa profesional 752 364 Professional fee Perbaikan dan pemeliharaan 553 363 Repairs and maintenance Listrik dan air 528 461 Utilities Lain-lain 4.388 10.762 Others
86.794 91.142
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
48
13. BEBAN YANG MASIH HARUS DIBAYAR (lanjutan) 13. ACCRUED EXPENSES (continued) 31 Desember/ 31 Desember/ December 2016 December 2015
Pihak berelasi Related parties Bunga yang masih harus dibayar 3.333 4.933 Accrued interest
90.127 96.075
Lain-lain terutama terdiri dari beban yang masih harus dibayar jasa profesional, utilitas, jamuan dan sewa Electronic Data Capture (EDC).
Others mainly consist of accrued professional fees, utilities, entertainment and Electronic Data Capture (EDC) rent.
14. PINJAMAN BANK 14. BANK LOANS 31 Desember/ 31 Desember/ December 2016 December 2015
Revolving 348.194 215.284 Revolving Non revolving 5.273.298 5.286.059 Non revolving
5.621.492 5.501.343 Biaya provisi yang belum diamortisasi (12.340) (14.753) Unamortized provision cost
5.609.152 5.486.590
Jumlah fasilitas yang ditarik/ Jumlah pinjaman/ Jatuh tempo fasilitas/ Withdrawn facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ December 2016 December 2015 December 2016 December 2015 December 2016 December 2015
Revolving Rupiah Pihak ketiga/Third parties Maret/ PT Bank Central Asia Tbk 55.000 - - - March 2017 - Maret/ 300.000 - - - March 2017 - Mei/ PT Bank Panin Tbk 300.000 - - - May 2017 -
November/ PT Bank OCBC NISP Tbk 150.000 - - - November 2017 - Maret/
PT Bank Danamon Tbk 100.000 - 25.000 - March 2017 - Juni/ 100.000 - - - June 2017 - Juni/ 11.805 - - - June 2017 - November/ 65.000 - 63.194 - November 2019 - Desember/ 50.000 - 50.000 - December 2019 - The Hongkong & Shanghai Banking Corporation Juli/ Limited, Cabang Jakarta/Jakarta Branch 150.000 - - - July 2017 - Bank of Tokyo Mitsubishi UFJ, Ltd, Februari/ Cabang Jakarta/Jakarta Branch 677.200 - - - February 2017 - Juni / PT. Bank UOB Indonesia 500.000 - - - June 2017 -
2.459.005 - 138.194 -
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
49
14. PINJAMAN BANK (lanjutan) 14. BANK LOANS (continued) Jumlah fasilitas yang ditarik/ Jumlah pinjaman/ Jatuh tempo fasilitas/ Withdrawn facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ December 2016 December 2015 December 2016 December 2015 December 2016 December 2015
Revolving (lanjutan/continued) Rupiah (lanjutan/continued) Pihak berelasi/Related parties April/ PT Bank Negara Indonesia (Persero) Tbk - 5.529 - 222 - April 2016 Mei/ - 10.337 - 739 - May 2016 Juni/ - 1.115 - 65 - June 2016 Februari/ - 1.627 - 13 - February 2016 Februari/ - 2.752 - 253 - February 2016 April/ - 1.719 - 367 - April 2016 Juni /
- 4.248 - 1.940 - June 2016 Juli/ - 2.196 - 798 - July 2016 Juli/ - 571 - 350 - July 2016 Oktober/ - 2.986 - 2.342 - October 2016 November/ - 19.947 - 18.195 November 2016 Agustus/ - 224.716 - - - August 2016 Desember/ Desember/ PT Bank Mandiri (Persero) Tbk 300.000 300.000 210.000 190.000 December 2017 December 2016 Juli/ PT Bank DKI 100.000 - - - July 2017 -
400.000 577.743 210.000 215.284
Jumlah/Total revolving 2.859.005 577.743 348.194 215.284
Non revolving Rupiah Pihak ketiga/Third parties
Januari/ PT Bank Central Asia Tbk - 75.000 - 2.083 - January 2016 Januari/ - 25.000 - 694 - January 2016 Februari/ - 75.000 - 4.167 - February 2016 Maret/ - 50.000 - 4.167 - March 2016 Maret/ - 75.000 - 6.250 - March 2016 September/ - 250.000 - 62.500 - September 2016 September/ - 155.000 - 38.750 - September 2016 Maret/ - 70.000 - 8.750 - March 2016 Juni/ Juni/ 100.000 100.000 25.000 75.000 June 2017 June 2017 Juni/ Juni/ 150.000 150.000 37.500 112.500 June 2017 June 2017 Juni/ Juni/ 150.000 150.000 37.500 112.500 June 2017 June 2017 Maret/ - 100.000 - - - March 2016 Maret/ 100.000 - 25.000 - March 2017 - Agustus/ 50.000 - 45.833 - August 2020 - Maret/ 450.000 - - - March 2017 -
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
50
14. PINJAMAN BANK (lanjutan)
14. BANK LOANS (continued)
Jumlah fasilitas yang ditarik/ Jumlah pinjaman/ Jatuh tempo fasilitas/ Withdrawn facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ December 2016 December 2015 December 2016 December 2015 December 2016 December 2015
Non revolving (lanjutan/continued) Rupiah (lanjutan/continued) Pihak ketiga (lanjutan)/Third parties (continued) Desember/ Desember/ PT Bank Chinatrust Indonesia 20.000 20.000 6.667 13.333 Desember 2017 December 2017 Desember/ Desember/ 80.000 80.000 26.667 53.333 Desember 2017 December 2017 Maret/ PT Bank Commonwealth - 30.000 - 2.500 - March 2016 Maret/ - 35.000 -; 2.917 - March 2016 April/ - 65.000 - 7.222 - April 2016 Juni/ Juni/ 50.000 50.000 8.333 25.000 June 2017 June 2017 Juni/ Juni/ 19.000 19.000 3.167 9.500 June 2017 June 2017
PT Bank Panin Tbk Desember/ - 27.000 - - - December 2015 Desember/ - 45.000 - - - December 2015 Desember/ - 70.000 - - - December 2015 Desember/
- 11.500 - - - December 2015 Desember/ Desember/ 20.000 20.000 - 5.000 December 2016 December 2016 Januari/ - 60.000 - 1.667 - January 2016 Januari/ - 25.000 - 694 - January 2016 Januari/ - 22.500 - 625 - January 2016 Maret/ - 56.000 - 4.667 - March2016 Maret/ Maret/ 50.000 50.000 3.125 15.625 March 2017 March2017 Maret/ - 85.000 - 7.083 - March2016 Maret/ - 59.000 - 4.917 - March2016 Juni/ - 10.000 - 1.667 - June 2016 Juni/ - 50.000 - 8.333 - June 2016 Juni/ - 40.000 - 6.667 - June 2016 Agustus/ - 125.000 - 27.778 - August 2016 Agustus/ - 75.000 - 16.667 - August 2016 Desember/ Desember/ 10.000 10.000 - 3.333 December 2016 December 2016 Maret/ Maret// 200.000 200.000 16.667 83.333 March 2017 March 2017 Maret/ Maret// 190.000 190.000 15.833 79.167 March 2017 March 2017 Maret/ Maret// 100.000 100.000 8.333 41.667 March 2017 March 2017 Mei/ Mei/ 10.000 10.000 1.389 4.722 May 2017 May 2017 Juni/ Juni/ 80.000 80.000 13.333 40.000 June 2017 June 2017 Juni/ Juni/ 120.000 120.000 20.000 60.000 June 2017 June 2017 Juni/ Juni/ 200.000 200.000 33.333 100.000 June 2017 June 2017 Agustus/ Agustus/ 40.000 40.000 8.889 22.222 August 2017 August 2017 September/ September/ 50.000 50.000 12.500 29.167 September 2017 September 2017 Desember/ Desember/ 200.000 200.000 100.000 150.000 December 2018 December 2018 Desember/ Desember/ 50.000 50.000 16.667 33.333 December 2017 December 2017 Desember/ Desember/ 50.000 50.000 16.667 33.333 December 2017 December 2017 Desember/ Desember/ 70.000 70.000 23.333 46.667 December 2017 December 2017 Januari/ Januari/ 100.000 100.000 53.192 78.724 January 2019 January 2019 Januari/ Januari/ 30.000 30.000 16.304 24.131 January 2019 January 2019
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
51
14. PINJAMAN BANK (lanjutan)
14. BANK LOANS (continued)
Jumlah fasilitas yang ditarik/ Jumlah pinjaman/ Jatuh tempo fasilitas/ Withdrawn facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ December 2016 December 2015 December 2016 December 2015 December 2016 December 2015 Non revolving (lanjutan/continued) Rupiah (lanjutan/continued) Pihak ketiga (lanjutan)/Third parties (continued) Mei/ Mei/ PT Bank Panin Tbk (lanjutan/continued) 100.000 100.000 47.222 80.556 May 2018 May 2018 Mei/ Mei/
100.000 100.000 47.222 80.556 May 2018 May 2018 Mei/ Mei/ 100.000 100.000 47.222 80.556 May 2018 May 2018
Juni/ Juni/ 100.000 100.000 50.000 80.556 June 2018 June 2018 Juni/ Juni/ 100.000 100.000 50.000 83.333 June 2018 June 2018 Juni/ Juni/ 150.000 150.000 75.000 125.000 June 2018 June 2018 Juni/ Juni/ 100.000 100.000 50.000 83.333 June 2018 June 2018 Oktober/ Oktober/ 100.000 100.000 61.111 94.444 October 2018 October 2018 Oktober/ Oktober/ 100.000 100.000 61.111 94.444 October 2018 October 2018 Oktober/ Oktober/ 100.000 100.000 61.111 94.444 October 2018 October 2018 Oktober/ Oktober/ 100.000 100.000 61.111 94.444 October 2018 October 2018 November/ November/ 100.000 100.000 63.889 97.222 November 2018 November 2018 November/ November/ 100.000 100.000 72.917 97.917 November 2019 November 2019 November/ November/ 100.000 100.000 63.889 97.222 November 2018 November 2018 November/ November/ 100.000 100.000 63.889 97.222 November 2018 November 2018 Desember/ Desember/ 100.000 100.000 66.667 100.000 December 2018 December 2018 Desember/ Desember/ 100.000 100.000 66.667 100.000 December 2018 December 2018 Februari/ - 250.000 - - - February 2016 Februari/ 150.000 - 108.333 - February 2019 - Februari/ 100.000 - 72.222 - February 2019 - Maret/ 100.000 - 81.250 - March 2020 - Maret/ 200.000 - 150.000 - March 2019 - Maret/ 100.000 - 81.250 - March 2020 - April/ 100.000 - 83.333 - April 2020 - Juni/ 100.000 - 83.333 - June 2019 - Juli/ 100.000 - 86.111 - July 2019 - Juli/ 100.000 - 86.111 - July 2019 - Juli/ 100.000 - 86.111 - July 2019 - Juli/ 100.000 - 86.111 - July 2019 - September/ 100.000 - 91.667 - September 2019 - November/ 25.000 - 24.479 - November 2020 - Desember/ 50.000 - 50.000 - December 2020 - Maret/ 825.000 - - - March 2017 - Bank Of China Limited, Cabang Jakarta/ Juni/ Jakarta Branch - 8.500 - 2.125 - June 2016 Maret/ Maret/ PT Bank KEB Hana Indonesia 50.000 50.000 22.889 39.028 March 2018 March 2018 April/ April/ 50.000 50.000 24.304 40.293 April 2018 April 2018 Agustus/ Agustus/ 50.000 50.000 29.834 45.237 August 2018 August 2018 September/ September/ 50.000 50.000 31.184 46.445 September 2018 September 2018 September/ September/ 100.000 100.000 62.369 92.889 September2018 September2018
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
52
14. PINJAMAN BANK (lanjutan) 14. BANK LOANS (continued) Jumlah fasilitas yang ditarik/ Jumlah pinjaman/ Jatuh tempo fasilitas/ Withdrawn facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ December 2016 December 2015 December 2016 December 2015 December 2016 December 2015 Non revolving (lanjutan/continued) Rupiah (lanjutan/continued) Pihak ketiga (lanjutan)/Third parties (continued) PT Bank KEB Hana Indonesia (lanjutan/continued) September/ September/ 100.000 100.000 62.369 92.889 September2018 September2018 Mei/ 100.000 - 82.822 - May 2019 - Juni/ 100.000 - 85.337 - June 2019 -
7.339.000 6.313.500 3.155.679 3.412.510
Non revolving Rupiah (lanjutan/continued) Pihak berelasi/Related parties Desember/ PT Bank Mandiri (Persero) Tbk - 64.000 - - - December 2015 Desember/ - 17.300 - - December 2015 Desember/ - 4.900 - - - December 2015 Januari/ - 10.000 - 316 - January 2016 April/ - 60.000 - 7.491 - April 2016 Mei/ - 23.000 - 3.576 - May 2016 Mei/ - 40.000 - 6.219 - May 2016 Juni/ - 100.000 - 18.589 - June 2016 Juni/ - 50.000 - 9.294 - June 2016 Juli/ - 60.000 - 12.964 - July 2016 Agustus/ - 22.500 - 5.566 - August 2016 Desember/ Desember/ 98.000 98.000 - 36.135 December 2016 December 2016 Januari/ Januari/ 25.000 25.000 805 9.944 January 2017 January 2017 Januari/ Januari/ 98.000 98.000 3.158 38.979 January 2017 January 2017 Februari/ Februari/ 49.000 49.000 3.154 20.943 February 2017 February 2017 Februari/ Februari/ 49.000 49.000 3.154 20.943 February 2017 February 2017 Februari/ Februari/ 49.000 49.000 3.165 20.987 February 2017 February 2017
Februari/ Februari/ 49.000 49.000 3.165 20.987 February 2017 February 2017 Maret/ Maret/ 49.000 49.000 4.741 22.431 March 2017 March 2017 Maret/ Maret/ 40.000 40.000 3.870 18.311 March 2017 March 2017 Juni/ Juni/ 41.000 41.000 7.847 22.255 June 2017 June 2017 September/ September/ 49.000 49.000 13.869 30.604 September 2017 September 2017 September/ September/ 49.000 49.000 13.869 30.604 September 2017 September 2017 September/ September/ 49.000 49.000 13.869 30.604 September 2017 September 2017 September/ September/ 49.000 49.000 13.869 30.604 September 2017 September 2017 Oktober/ Oktober/ 49.000 49.000 15.338 31.914 October 2017 October 2017 Oktober/ Oktober/ 49.000 49.000 15.338 31.914 October 2017 October 2017 November/ November/ 49.000 49.000 16.753 33.171 November 2017 November 2017 November/ November/ 49.000 49.000 16.753 33.171 November 2017 November 2017 November/ November/ 49.000 49.000 16.753 33.171 November 2017 November 2017 November/ November/ 49.000 49.000 16.753 33.171 November 2017 November 2017 Desember/ Desember/ 49.000 49.000 18.192 34.458 December 2017 December 2017 Desember/ Desember/ 49.000 49.000 18.193 34.458 December 2017 December 2017 Desember/ Desember/ 49.000 49.000 18.193 34.458 December 2017 December 2017 Januari/ Januari/ 49.000 49.000 19.619 35.733 January 2018 January 2018
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
53
14. PINJAMAN BANK (lanjutan) 14. BANK LOANS (continued) Jumlah fasilitas yang ditarik/ Jumlah pinjaman/ Jatuh tempo fasilitas/ Withdrawn facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ December 2016 December 2015 December 2016 December 2015 December 2016 December 2015 Non revolving (lanjutan/continued) Rupiah (lanjutan/continued) Pihak berelasi/Related parties PT Bank Mandiri (Persero) Tbk Januari/ Januari/ lanjutan/continued 49.000 49.000 19.619 35.733 January 2018 January 2018 Januari/ Januari/ 49.000 49.000 19.619 35.733 January 2018 January 2018 Februari/ Februari/ 49.000 49.000 21.031 36.996 February 2018 February 2018
Februari/ Februari/ 49.000 49.000 21.031 36.996 February 2018 February 2018 Maret/ Maret/ 49.000 49.000 22.431 38.247 March 2018 March 2018 Maret/ Maret/ 49.000 49.000 22.431 38.247 March 2018 March 2018 Maret/ Maret/ 20.000 20.000 9.156 15.611 March 2018 March 2018 Juni/ Juni/ 40.000 40.000 21.676 34.230 June 2018 June 2018 September/ September/ 34.000 34.000 21.205 31.581 September 2018 September 2018 Juli/ 100.000 - 87.824 - July 2019 - Agustus/ 100.000 - 90.299 - August 2019 - Agustus/ 100.000 - 90.299 - August 2019 - Agustus/ 50.000 - 45.150 - August 2019 - September/ 100.000 - 92.734 - September 2019 - November/ 50.000 - 48.790 - November 2019 - November/ 50.000 - 48.790 - November 2019 - Desember/ 100.000 - 100.000 - December 2019 - Desember/ 100.000 - 100.000 - December 2019 - Desember/ 150.000 - 150.000 - December 2019 - Juli/ 100.000 - - - July 2017 - Desember/ PT Bank DKI - 5.000 - - - December 2015 Desember/ - 20.000 - - - December 2015 Januari/ - 30.000 - 948 - January 2016
Juni/ - 10.000 - 1.859 - June 2016 Juli/ - 50.000 - 10.834 - July 2016 Juli/ - 40.000 - 8.667 - July 2016 September/ - 100.000 - 28.158 - September 2016 Januari/ Januari/ 25.000 25.000 811 9.987 January 2017 January 2017 Oktober/ Oktober/ 35.500 35.500 11.085 23.091 October 2017 October 2017 Desember/ Desember/ 30.000 30.000 11.138 21.097 December 2017 December 2017 Januari/ Januari/ 35.000 35.000 14.013 25.523 January 2018 January 2018 Februari/ Februari/ 30.000 30.000 12.876 22.651 February 2018 February 2018 Maret/ Maret/ 50.000 50.000 22.889 39.028 March 2018 March 2018 Maret/ Maret/ 50.000 50.000 22.889 39.028 March 2018 March 2018 April/ April/ 19.500 19.500 9.479 15.714 April 2018 April 2018 Desember/ Desember/ 50.000 50.000 35.121 50.000 December 2018 December 2018 Juni/ - 250.000 - - - June 2016 April/ 100.000 - 80.406 - April 2019 - April/ 150.000 - 120.518 - April 2019 - Januari/ 125.000 - - - January 2017 - November/ 25.000 - 24.394 - November 2019 - Desember 50.000 - 50.000 - December 2019 -
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
54
14. PINJAMAN BANK (lanjutan) 14. BANK LOANS (continued) Jumlah fasilitas yang ditarik/ Jumlah pinjaman/ Jatuh tempo fasilitas/ Withdrawn facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ December 2016 December 2015 December 2016 December 2015 December 2016 December 2015
Non revolving (lanjutan/continued) Rupiah (lanjutan/continued) Pihak berelasi (lanjutan)/Related parties (continued) PT Bank Pembangunan Daerah April/ April/ Jawa Barat dan Banten Tbk 50.000 50.000 5.715 22.857 April 2017 April 2017 Maret/ Maret/ 75.000 75.000 6.618 33.088 March 2017 March 2017 April/ April/ 50.000 50.000 5.882 23.529 April 2017 April 2017 Desember/ Desember/ 100.000 100.000 33.333 66.668 December 2017 December 2017 Mei/ Mei/ 100.000 100.000 48.571 82.858 May 2018 May 2018 Mei/ Mei/ 100.000 100.000 53.125 90.625 May 2018 May 2018 Desember/ Desember/ 100.000 100.000 66.667 100.000 December 2018 December 2018 Desember/ Desember/ 100.000 100.000 66.667 100.000 December 2018 December 2018 Mei/ 75.000 - 60.417 - May 2019 - Juni/ 75.000 - 62.500 - June 2019 - April/ 400.000 - - - April 2017 -
4.621.000 3.577.700 2.117.619 1.873.549
Jumlah/Total non-revolving 11.960.000 9.891.200 5.273.298 5.286.059
Jumlah/Total 14.819.005 10.468.943 5.621.492 5.501.343
Cicilan pinjaman bank sesuai dengan tanggal jatuh temponya.
Bank loans’ installment based on maturity date.
31 Desember/ 31 Desember/ December 2016 December 2015
Tahun Year 2016 - 2.892.247 2016 2017 3.075.165 1.827.120 2017 2018 1.792.080 756.279 2018 2019 706.851 25.697 2019 2020 dan sesudahnya 47.396 - 2020 and there after
5.621.492 5.501.343
Pinjaman bank dalam Rupiah di atas dikenakan bunga antara 9,00% - 12,00% per tahun dan 8,65% - 12,00% per tahun (tidak diaudit).
The bank loans denominated in Rupiah bear interest rates ranging between 9.00% - 12.00% per annum and 8.65% - 12.00% per annum (unaudited), respectively.
Selama tahun yang berakhir pada tanggal 31 Desember 2016 dan 2015, Perseroan telah melakukan pembayaran cicilan pokok dan bunga pinjaman sesuai jadwal yang ditetapkan.
During year ended 31 December 2016 and 2015, the Company has paid the loan principal and interests installments on schedule.
Pinjaman-pinjaman ini dijamin dengan piutang pembiayaan konsumen sejumlah Rp4.267.156 pada tanggal 31 Desember 2016 (31 Desember 2015: Rp3.778.356) dan piutang sewa pembiayaan sejumlah Rp274.319 pada tanggal 31 Desember 2016 (31 Desember 2015: Rp321.506).
These loans are secured by consumer financing receivables amounting to Rp4,267,156 as of 31 December 2016 (31 December 2015: Rp3,778,356) and finance lease receivables amounting to Rp274,319 as of 31 December 2016 (31 December 2015: Rp321,506).
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
55
14. PINJAMAN BANK (lanjutan) 14. BANK LOANS (continued)
Fasilitas pinjaman dari beberapa bank tersebut mensyaratkan Perseroan untuk memberikan pemberitahuan tertulis dalam hal pembagian dividen, perubahan modal dan pemegang saham, perubahan susunan direksi dan komisaris, perubahan bisnis utama, investasi dan perolehan pinjaman baru dari bank lain. Dalam perjanjian pinjaman tersebut, Perseroan juga diwajibkan untuk memenuhi persyaratan keuangan seperti rasio jumlah utang bunga terhadap ekuitas tidak melebihi rasio 10:1 dan kewajiban penyampaian laporan lainnya. Pada tanggal 31 Desember 2016 dan 2015, Perseroan telah memenuhi persyaratan-persyaratan di atas.
The loan facilities from those banks require the Company to provide a written notice in respect of dividend payments, changes of capital and shareholders, changes of directors and commissioners, changes of main business, investment and obtaining new loan facilities from other banks. Under the loan agreements, the Company is also obliged to comply with financial covenants such as gearing ratio not exceeding 10:1 and other reporting obligations. As of 31 December 2016 and 2015, the Company has complied with the above requirements.
Fasilitas-fasilitas pinjaman ini dipergunakan untuk modal kerja kegiatan usaha Perseroan.
The loan facilities are used for the Company’s working capital.
Lihat Catatan 27 untuk perjanjian kerjasama pembiayaan bersama dan penyaluran pemberian kredit.
Refer to Note 27 for joint financing and credit channeling cooperation agreements.
15. SURAT BERHARGA YANG DITERBITKAN 15. SECURITIES ISSUED 31 Desember/ 31 Desember/ December 2016 December 2015
Obligasi Berkelanjutan I Tahap I 75.000 500.000 Continuing Bonds I Phase I Obligasi Berkelanjutan I Tahap II 600.000 600.000 Continuing Bonds I Phase II Obligasi Berkelanjutan I Tahap III 150.000 150.000 Continuing Bonds I Phase III Obligasi Berkelanjutan II Tahap I 600.000 600.000 Continuing Bonds II Phase I Obligasi Berkelanjutan II Tahap II 1.400.000 - Continuing Bonds II Phase II Obligasi Berkelanjutan III Tahap I 500.000 - Continuing Bonds III Phase I
3.325.000 1.850.000 Dikurangi: Less: Beban emisi yang belum diamortisasi: Unamortized issuance costs: Saldo awal 4.590 2.631 Beginning balance Penambahan 9.371 4.577 Additions Amortisasi (lihat Catatan 20) (5.195) (2.618) Amortization (refer to Note 20)
8.766 4.590
Total 3.316.234 1.845.410 Total
Surat berharga yang diterbitkan sesuai dengan jatuh temponya:
Securities issued based on maturity profile:
31 Desember/ 31 Desember/ December 2016 December 2015
Tahun Year 2016 - 425.000 2016 2017 500.000 500.000 2017 2018 825.000 825.000 2018 2019 1.120.000 - 2019 2020 dan sesudahnya 880.000 100.000 2020 and there after
3.325.000 1.850.000
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
56
15. SURAT BERHARGA YANG DITERBITKAN (lanjutan)
15. SECURITIES ISSUED (continued)
a. Utang obligasi a. Bonds payable
Obligasi Berkelanjutan I Continuing Bonds I
Obligasi Berkelanjutan I Mandiri Tunas Finance Tahap I Tahun 2013
Mandiri Tunas Finance Continuing Bonds I Phase I Year 2013
Tingkat bunga tetap per tahun/ Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/ Bonds Nominal value rate per annum Due date Bonds principal instalment
Seri/Series A 425.000 7,75% 5 Juni/June 2016
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
Seri/Series B 75.000 7,80% 5 Juni/June 2017
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
Obligasi tersebut dijamin dengan piutang pembiayaan konsumen Perseroan sebesar minimum 60% untuk Obligasi Berkelanjutan I Tahap I dari pokok obligasi terutang. Pada tanggal 31 Desember 2016 dan 2015, piutang pembiayaan konsumen yang dijaminkan adalah sejumlah Rp45.000 dan Rp254.270 dan piutang sewa pembiayaan yang dijaminkan adalah sejumlah nihil dan Rp45.731 (lihat Catatan 5 dan 6). Jika jumlah piutang pembiayaan konsumen kurang dari yang dipersyaratkan, maka akan dipenuhi dari uang tunai yang ditempatkan pada rekening penampungan atas nama Perseroan yang ditunjuk oleh PT Bank Mega Tbk. selaku wali amanat untuk Obligasi Berkelanjutan I Tahap I.
These bonds are secured by the Company’s consumer financing receivables for a minimum amount of 60% of the nominal value of Continuing Bonds I Phase I. As of 31 December 2016 and 2015, the amount of consumer financing receivables that was pledged as security for bonds payable are Rp45,000 and Rp254,270 and finance lease receivables that was pledged are nihil and Rp45,731(refer to Notes 5 and 6). If the amount of consumer financing receivables is less than the requirement, the Company has to place sufficient cash into an escrow account established by PT Bank Mega Tbk. as trustee for Continuing Bonds I Phase I.
Dalam perjanjian perwaliamanatan juga diatur beberapa pembatasan yang harus dipenuhi oleh Perseroan, antara lain memberikan jaminan fidusia berupa piutang pembiayaan konsumen dan rasio jumlah pinjaman terhadap ekuitas tidak melebihi rasio 10:1. Selain itu, selama pokok obligasi belum dilunasi, Perseroan tidak diperkenankan, antara lain melakukan penggabungan usaha kecuali dilakukan pada bidang usaha yang sama serta menjual atau mengalihkan lebih dari 50% aset Perseroan kecuali untuk kegiatan usaha Perseroan sehari-hari.
The trustee agreement provides several negative covenants to the Company, among others, collateral with fiduciary transfer of consumer financing receivables and debt to equity ratio not to exceed 10:1. Moreover, during the year that the bonds principals are still outstanding, the Company is not allowed to, among others, merge unless performed on the same business and to sell or assign more than 50% of the Company’s asset, except for Company’s normal business transactions.
Perseroan telah memenuhi batasan-batasan yang diwajibkan dalam perjanjian tersebut diatas.
The Company has complied with the covenants on the trustee agreements.
PT Pefindo telah menetapkan peringkat idAA (Double A) terhadap obligasi berkelanjutan sesuai suratnya No. 528/PEF-Dir/III/2013 tanggal 19 Maret 2013 untuk periode 18 Maret 2013 sampai dengan 1 Maret 2014.
PT Pefindo has rated idAA (Double A) the Continuing Bonds based on its report No. 528/PEF-Dir/III/2013 dated 19 March 2013 for period 18 March 2013 until 1 March 2014.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
57
15. SURAT BERHARGA YANG DITERBITKAN (lanjutan)
15. SECURITIES ISSUED (continued)
a. Utang obligasi (lanjutan) a. Bonds payable (continued)
Obligasi Berkelanjutan I (lanjutan) Continuing Bonds I (continued)
Obligasi Berkelanjutan I Mandiri Tunas Finance Tahap I Tahun 2013 (lanjutan)
Mandiri Tunas Finance Continuing Bonds I Phase I Year 2013 (continued)
Kemudian dalam pemantauan tahunan PT Pefindo melalui suratnya No. 359/PEFDir/III/2014 tanggal 5 Maret 2014 telah menetapkan kembali peringkat idAA (Double A) untuk Obligasi Berkelanjutan I Tahap I untuk periode 5 Maret 2014 sampai dengan 1 Maret 2015.
Then in the Annual Monitoring, PT Pefindo through letter No. 359/PEF-Dir/III/2014 dated 5 March 2014 has rated idAA (Double A) for the Continuing Bonds I Phase I for the period 5 March 2014 until 1 March 2015.
Dalam pemantauan tahunan PT Pefindo melalui suratnya No. 333/PEFDir/III/2015 tanggal 9 Maret 2015 telah menetapkan kembali peringkat idAA (Double A) untuk Obligasi Berkelanjutan I Tahap I untuk periode 6 Maret 2015 sampai dengan 1 Maret 2016.
In the Annual Monitoring, PT Pefindo through letter No. 333/PEF-Dir/III/2015 dated 9 March 2015 has rated idAA (Double A) for the Continuing Bonds I Phase I for the period 6 March 2015 until 1 March 2016.
Dalam pemantauan tahunan PT Pefindo melalui suratnya No. 1244/PEFDir/IX/2015 tanggal 30 September 2015 telah menetapkan kembali peringkat idAA (Double A) untuk Obligasi Berkelanjutan I Tahap I untuk periode 30 September 2015 sampai dengan 1 September 2016.
Dalam pemantauan tahunan PT Pefindo melalui suratnya No. 1240/PEF-Dir/VII/2016 tanggal 28 Juli 2016 telah menaikkan peringkat dari idAA (Double A) menjadi idAA+ (Double A Plus) untuk Obligasi Berkelanjutan I Tahap I untuk periode 28 Juli 2016 sampai dengan 1 Juli 2017. Perseroan telah melunasi utang Obligasi Berkelanjutan I Tahap I Seri A sebesar Rp425.000 pada tanggal 3 Juni 2016.
In the Annual Monitoring, PT Pefindo through letter No. 1244/PEF-Dir/IX/2015 dated 30 September 2015 has rated idAA (Double A) for the Continuing Bonds I Phase I for the period 30 September 2015 until 1 September 2016. In the Annual Monitoring, PT Pefindo through letter No. 1240/PEF-Dir/VII/2016 dated 28 July 2016 has raised rating from idAA (Double A) to idAA+ (double A Plus) for the Continuing Bonds I Phase I for the period 28 July 2016 until 1 July 2017. The Company has settled bonds Continuing Bonds I Phase I Series A amounting Rp425,000 on 3 June 2016.
Obligasi Berkelanjutan I Mandiri Tunas Finance Tahap II Tahun 2014
Mandiri Tunas Finance Continuing Bonds I Phase II Year 2014
Pada tanggal 23 Mei 2014, Perseroan telah menerbitkan Obligasi Berkelanjutan I Mandiri Tunas Finance Tahap II Tahun 2014 (”Obligasi Berkelanjutan I Tahap II”) dengan nilai nominal Rp600.000 yang terdiri atas dua seri:
On 23 May 2014, the Company issued Mandiri Tunas Finance Continuing Bonds I Phase II Year 2014 (“Continuing Bonds I Phase II”) with a nominal value of Rp600,000 which consist of two series:
Tingkat bunga tetap per tahun/ Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/ Bonds Nominal value rate per annum Due date Bonds principal instalment
Seri/Series A 425.000 10,70% 23 Mei/May 2017
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
Seri/Series B 175.000 10,85% 23 Mei/May 2018
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
58
15. SURAT BERHARGA YANG DITERBITKAN (lanjutan)
15. SECURITIES ISSUED (continued)
a. Utang obligasi (lanjutan) a. Bonds payable (continued)
Obligasi Berkelanjutan I (lanjutan) Continuing Bonds I (continued)
Obligasi Berkelanjutan I Mandiri Tunas Finance Tahap II Tahun 2014 (lanjutan)
Mandiri Tunas Finance Continuing Bonds I Phase II Year 2014 (continued)
Obligasi tersebut dijamin dengan piutang pembiayaan konsumen Perseroan sebesar minimal 60% untuk Obligasi Berkelanjutan I Tahap II dari pokok obligasi terutang. Pada tanggal 31 Desember 2016 dan 2015, piutang pembiayaan konsumen yang dijaminkan adalah sejumlah Rp294.389 dan Rp331.174 dan piutang sewa pembiayaan sejumlah Rp65.611 dan Rp28.827 (lihat Catatan 5 dan 6). Jika jumlah piutang pembiayaan konsumen dan piutang sewa pembiayaan kurang dari yang dipersyaratkan, maka akan dipenuhi dari uang tunai yang ditempatkan pada rekening penampungan atas nama Perseroan yang ditunjuk oleh PT Bank Mega Tbk. selaku wali amanat untuk Obligasi Berkelanjutan I Tahap II.
These bonds are secured by the Company’s consumer financing receivables for a minimum amount of 60% of the nominal value of Continuing Bonds I Phase II. As of 31 December 2016 and 2015, the amount of consumer financing receivables that was pledged as security for bonds payable is Rp294,389 and 331,174 and finance lease receivables Rp65,611 and Rp28,827 (refer to Notes 5 and 6). If the amount of consumer financing receivables and finance lease receivables is less than the requirement, the Company has to place sufficient cash into an escrow account established by PT Bank Mega Tbk. as trustee for Continuing Bonds I Phase II.
PT Pefindo melalui suratnya No.359/PEF-Dir/III/2014 tanggal 5 Maret 2014 telah menetapkan kembali peringkat idAA (Double A) untuk obligasi berkelanjutan I Tahap II untuk periode 5 Maret 2014 sampai dengan 1 Maret 2015.
PT Pefindo through letter No. 359/PEF-Dir/III/2014 dated 5 March 2014 has rated idAA (Double A) for the Continuing Bonds I Phase II for the period 5 March 2014 until 1 March 2015.
Kemudian dalam pemantauan tahunan PT Pefindo melalui suratnya No. 333/PEF-Dir/III/2015 tanggal 9 Maret 2015 telah menetapkan kembali peringkat idAA (Double A) untuk Obligasi Berkelanjutan I Tahap II untuk periode 6 Maret 2015 sampai dengan 1 Maret 2016. Dalam pemantauan tahunan PT Pefindo melalui suratnya No. 1244/PEF-Dir/IX/2015 tanggal 30 September 2015 telah menetapkan kembali peringkat idAA (Double A) untuk Obligasi Berkelanjutan I Tahap II untuk periode 30 September 2015 sampai dengan 1 September 2016.
Then in the Annual Monitoring, PT Pefindo through letter No. 333/PEF-Dir/III/2015 dated 9 March 2015 has rated idAA (Double A) for the Continuing Bonds I Phase II for the period 6 March 2015 until 1 March 2016. In the Annual Monitoring, PT Pefindo through letter No. 1244/PEF-Dir/IX/2015 dated 30 September 2015 has rated idAA (Double A) for the Continuing Bonds I Phase II for the period 30 September 2015 until 1 September 2016.
Dalam pemantauan tahunan PT Pefindo melalui suratnya No. 1240/PEF-Dir/VII/2016 tanggal 28 Juli 2016 telah menaikkan peringkat dari idAA menjadi idAA+ (Double A Plus) untuk Obligasi Berkelanjutan I Tahap II untuk periode 28 Juli 2016 sampai dengan 1 Juli 2017.
In the Annual Monitoring, PT Pefindo through letter No. 1240/PEF-Dir/VII/2016 dated 28 July 2016 has raised rating from idAA (Double A) to idAA+ (Double A Plus) for the Continuing Bonds I Phase II for the period 28 July 2016 until 1July 2017.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
59
15. SURAT BERHARGA YANG DITERBITKAN (lanjutan)
15. SECURITIES ISSUED (continued)
a. Utang obligasi (lanjutan) a. Bonds payable (continued)
Obligasi Berkelanjutan I (lanjutan) Continuing Bonds I (continued)
Obligasi Berkelanjutan I Mandiri Tunas Finance Tahap III Tahun 2015
Mandiri Tunas Finance Continuing Bonds I Phase III Year 2015
Pada tanggal 9 Juni 2015, Perseroan telah menerbitkan Obligasi Berkelanjutan I Mandiri Tunas Finance Tahap III Tahun 2015 (“Obligasi Berkelanjutan I Tahap III”) sebagai berikut:
On 9 June 2015, the Company issued Mandiri Tunas Finance Continuing Bonds I Phase III Year 2015 (“Continuing Bonds I Phase III”) as follows:
Tingkat bunga tetap per tahun/ Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/ Bonds Nominal value rate per annum Due date Bonds principal instalment
Obligasi Berkelanjutan I Tahap III/Continuing Bonds I Phase III
150.000 9,75% 9 Juni/June 2018
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
Obligasi tersebut dijamin dengan piutang pembiayaan konsumen Perseroan sebesar minimal 60% untuk Obligasi Berkelanjutan I Tahap III dari pokok obligasi terutang. Pada tanggal 31 Desember 2016 dan 2015, piutang pembiayaan konsumen yang dijaminkan adalah sejumlah Rp90.000 dan Rp89.870 dan piutang sewa pembiayaan sejumlah Rp nihil dan Rp131 (lihat Catatan 5 dan 6). Jika jumlah piutang pembiayaan konsumen dan piutang sewa pembiayaan kurang dari yang dipersyaratkan, maka akan dipenuhi dari uang tunai yang ditempatkan pada rekening penampungan atas nama Perseroan yang ditunjuk oleh PT Bank Mega Tbk. selaku wali amanat untuk Obligasi Berkelanjutan I Tahap III.
These bonds are secured by the Company’s consumer financing receivables for a minimum amount of 60% of the nominal value of Continuing Bonds I Phase III. As of 31 December 2016 and 2015, the amount of consumer financing receivables that was pledged as security for bonds payable is Rp90,000 and Rp89,870 and finance lease receivables Rp nil and Rp131 (refer to Notes 5 and 6). If the amount of consumer financing receivables and finance lease receivables is less than the requirement, the Company has to place sufficient cash into an escrow account established by PT Bank Mega Tbk. as trustee for Continuing Bonds I Phase III.
PT Pefindo melalui suratnya No. 769/PEF-Dir/V/2015 tanggal 19 Mei 2015 telah menetapkan kembali peringkat idAA (Double A) untuk Obligasi Berkelanjutan I Tahap III untuk periode 6 Maret 2015 sampai dengan 1 Maret 2016.
PT Pefindo through letter No. 769/PEF-Dir/V/2015 dated 19 May 2015 has rated idAA (Double A) for the Continuing Bonds I Phase III for the period 6 March 2015 until 1 March 2016.
Dalam pemantauan tahunan PT Pefindo melalui suratnya No. 1244/PEF-Dir/IX/2015 tanggal 30 September 2015 telah menetapkan kembali peringkat idAA (Double A) untuk Obligasi Berkelanjutan I Tahap III untuk periode 30 September 2015 sampai dengan 1 September 2016. Dalam pemantauan tahunan PT Pefindo melalui suratnya No. 1240/PEF-Dir/VII/2016 tanggal 28 Juli 2016 telah menaikkan peringkat dari idAA (Double A) menjadi idAA+ (Double A Plus) untuk Obligasi Berkelanjutan I Tahap III untuk periode 28 Juli 2016 sampai dengan 1 Juli 2017.
In the Annual Monitoring, PT Pefindo through letter No. 1244/PEF-Dir/IX/2015 dated 30 September 2015 has rated idAA (Double A) for the Continuing Bonds I Phase III for the period 30 September 2015 until 1 September 2016. In the Annual Monitoring, PT Pefindo through letter No. 1240/PEF-Dir/VII/2016 dated 28 July 2016 has raised rating from idAA (Double A) to idAA+ (Double A Plus) for the Continuing Bonds I Phase III for the period 28 July 2016 until 1 July 2017.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
60
15. SURAT BERHARGA YANG DITERBITKAN (lanjutan)
15. SECURITIES ISSUED (continued)
a. Utang obligasi (lanjutan) a. Bonds payable (continued)
Obligasi Berkelanjutan II Continuing Bonds II
Obligasi Berkelanjutan II Mandiri Tunas Finance Tahap I Tahun 2015
Mandiri Tunas Finance Continuing Bonds II Phase I Year 2015
Pada tanggal 11 Desember 2015, Perseroan telah memperoleh persyaratan efektif dari Otoritas Jasa Keuangan melalui surat No. S-596/D.04/2015 dalam rangka penawaran umum Obligasi Berkelanjutan II Mandiri Tunas Finance Tahap I Tahun 2015 (“Obligasi Berkelanjutan II”) dengan nilai nominal Rp600.000 yang terdiri atas dua seri:
On 11 December 2015, the Company received the effective notification from the FinancialServices Authority through its letter No. S-596/D.04/2015 in conjunction with continuing public offering of Mandiri Tunas Finance continuing Bonds II Phase I Year 2015 (“continuing Bonds II”) with a nominal value of Rp600,000 which consist of two series:
Tingkat bunga tetap per tahun/ Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/ Bonds Nominal value rate per annum Due date Bonds principal instalment
Seri/Series A 500.000 10,20% 18 Desember/ December
2018
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
Seri/Series B 100.000 10,80% 18 Desember/ December
2020
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
Obligasi tersebut dijamin dengan piutang pembiayaan konsumen Perseroan sebesar minimum 60% untuk Obligasi Berkelanjutan II Tahap I dari pokok obligasi terutang. Pada tanggal 31 Desember 2016 dan 2015 piutang pembiayaan konsumen yang dijaminkan adalah sejumlah Rp333.871 dan Rp359.878 dan piutang sewa pembiayaan yang dijaminkan adalah sejumlah Rp26.129 dan Rp122 (lihat Catatan 5 dan 6). Jika jumlah piutang pembiayaan konsumen kurang dari yang dipersyaratkan, maka akan dipenuhi dari uang tunai yang ditempatkan pada rekening penampungan atas nama Perseroan yang ditunjuk oleh PT Bank Mega Tbk. selaku wali amanat untuk Obligasi Berkelanjutan II Tahap I.
These bonds are secured by the Company’s consumer financing receivables for a minimum amount of 60% of the nominal value of Continuing Bonds II Phase I. As of 31 December 2016 dan 2015 the amount of consumer financing receivables that was pledged as security for bonds payable are Rp333,871 and Rp359,878 and finance lease receivables that was pledged are Rp26,129 and Rp122 (refer to Notes 5 and 6). If the amount of consumer financing receivables is less than the requirement, the Company has to place sufficient cash into an escrow account established by PT Bank Mega Tbk. as trustee for Continuing Bonds II Phase I.
Dalam perjanjian perwaliamanatan juga diatur beberapa pembatasan yang harus dipenuhi oleh Perseroan, antara lain memberikan jaminan fidusia berupa piutang pembiayaan konsumen dan rasio jumlah pinjaman terhadap ekuitas tidak melebihi rasio 10:1. Selain itu, selama pokok obligasi belum dilunasi, Perseroan tidak diperkenankan, antara lain melakukan penggabungan usaha kecuali dilakukan pada bidang usaha yang sama serta menjual atau mengalihkan lebih dari 50% aset Perseroan kecuali untuk kegiatan usaha Perseroan sehari-hari.
The trustee agreement provides several negative covenants to the Company, among others, collateral with fiduciary transfer of consumer financing receivables and debt to equity ratio not to exceed 10:1. Moreover, during the year that the bonds principals are still outstanding, the Company is not allowed to, among others, merge unless performed on the same business and to sell or assign more than 50% of the Company’s asset, except for Company’s normal business transactions.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
61
15. SURAT BERHARGA YANG DITERBITKAN (lanjutan)
15. SECURITIES ISSUED (continued)
a. Utang obligasi (lanjutan) a. Bonds payable (continued)
Obligasi Berkelanjutan II (lanjutan) Continuing Bonds II (continued)
Obligasi Berkelanjutan II Mandiri Tunas Finance Tahap I Tahun 2015 (lanjutan)
Mandiri Tunas Finance Continuing Bonds II Phase I Year 2015 (continued)
Perseroan telah memenuhi batasan-batasan yang diwajibkan dalam perjanjian tersebut diatas.
The Company has complied with the covenants on the trustee agreements.
PT Pefindo telah menetapkan peringkat idAA (Double A) terhadap obligasi berkelanjutan sesuai suratnya No. 1244/PEF-Dir/IX/2015 tanggal 30 September 2015 untuk periode 30 September 2015 sampai dengan 1 September 2016. Dalam pemantauan tahunan PT Pefindo melalui suratnya No. 1240/PEF-Dir/VII/2016 tanggal 28 Juli 2016 telah menaikkan peringkat dari idAA (Double A) menjadi idAA+ (Double A Plus) untuk Obligasi Berkelanjutan I Tahap III untuk periode 28 Juli 2016 sampai dengan 1 Juli 2017.
PT Pefindo has rated idAA (Double A) the Continuing Bonds based on its report No. 1244/PEF-Dir/IX/2015 dated 30 September 2015 for period 30 September 2015 until 1 September 2016. In the Annual Monitoring, PT Pefindo through letter No. 1240/PEF-Dir/VII/2016 dated 28 July 2016 has raised rating from idAA (Double A) to idAA+ (double A Plus) for the Continuing Bonds I Phase III for the period 28 July 2016 until 1 July 2017.
Obligasi Berkelanjutan II Mandiri Tunas Finance Tahap II Tahun 2016
Mandiri Tunas Finance Continuing Bonds II Phase II Year 2016
Pada tanggal 1 Juni 2016, Perseroan telah menerbitkan Obligasi Berkelanjutan II Mandiri Tunas Finance Tahap II Tahun 2016 (“Obligasi Berkelanjutan II Tahap II”) sebagai berikut:
On 1 June 2016, the Company issued Mandiri Tunas Finance Continuing Bonds II Phase II Year 2016 (“Continuing Bonds II Phase II”) as follows:
Tingkat bunga tetap per tahun/ Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/ Bonds Nominal value rate per annum Due date Bonds principal instalment
Seri/Series A 720.000 8,95% 1Juni/June 2019
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
Seri/Series B 680.000 9,25% 1Juni/June 2021
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
62
15. SURAT BERHARGA YANG DITERBITKAN (lanjutan)
15. SECURITIES ISSUED (continued)
a. Utang obligasi (lanjutan) a. Bonds payable (continued)
Obligasi Berkelanjutan II (lanjutan) Continuing Bonds II (continued)
Obligasi Berkelanjutan II Mandiri Tunas Finance Tahap II Tahun 2016 (lanjutan)
Mandiri Tunas Finance Continuing Bonds II Phase II Year 2016 (continued)
Dalam perjanjian perwaliamanatan juga diatur beberapa pembatasan yang harus dipenuhi oleh Perseroan, antara lain memberikan jaminan fidusia berupa piutang pembiayaan konsumen dan rasio jumlah pinjaman terhadap ekuitas tidak melebihi rasio 10:1. Selain itu, selama pokok obligasi belum dilunasi, Perseroan tidak diperkenankan, antara lain melakukan penggabungan usaha kecuali dilakukan pada bidang usaha yang sama serta menjual atau mengalihkan lebih dari 50% aset Perseroan kecuali untuk kegiatan usaha Perseroan sehari-hari.
The trustee agreement provides several negative covenants to the Company, among others, collateral with fiduciary transfer of consumer financing receivables and debt to equity ratio not to exceed 10:1. Moreover, during the year that the bonds principals are still outstanding, the Company is not allowed to, among others, merge unless performed on the same business and to sell or assign more than 50% of the Company’s asset, except for Company’s normal business transactions.
Perseroan telah memenuhi batasan-batasan yang diwajibkan dalam perjanjian tersebut diatas.
The Company has complied with the covenants on the trustee agreements.
PT Pefindo telah menegaskan kembali peringkat idAA (Double A) terhadap obligasi Berkelanjutan II Tahap II sesuai suratnya No. 847/PEF-Dir/V/2016 tanggal 11 Mei 2016 untuk periode 30 September 2015 sampai dengan 1 September 2016.
PT Pefindo has rated idAA (Double A) the Continuing Bonds II Phase II based on its report No. 847/PEF-Dir/V/2016 tanggal 11 May 2016 for period 30 September 2015 until 1 September 2016.
Dalam pemantauan tahunan PT Pefindo melalui suratnya No. 1240/PEF-Dir/VII/2016 tanggal 28 Juli 2016 telah menaikkan peringkat dari idAA (Double A) menjadi idAA+ (Double A Plus) untuk Obligasi Berkelanjutan II Tahap II untuk periode 28 Juli 2016 sampai dengan 1 Juli 2017.
In the Annual Monitoring, PT Pefindo through letter No. 1240/PEF-Dir/VII/2016 dated 28 July 2016 has raised rating from idAA (Double A) to idAA+ (double A Plus) for the Continuing Bonds II Phase II for the period 28 July 2016 until 1 July 2017.
Obligasi Berkelanjutan III Continuing Bonds III
Obligasi Berkelanjutan III Mandiri Tunas Finance Tahap I Tahun 2016
Mandiri Tunas Finance Continuing Bonds III Phase I Year 2016
Pada tanggal 7 Oktober 2016, Perseroan telah memperoleh persyaratan efektif dari Otoritas Jasa Keuangan melalui surat No.S-543/D.04/2016 dalam rangka penawaran umum Obligasi Berkelanjutan III Mandiri Tunas Finance Tahap I Tahun 2016 (“Obligasi Berkelanjutan III”) dengan nilai nominal Rp500.000 yang terdiri atas dua seri:
On 7 October 2016, the Company received the effective notification from the FinancialServices Authority through its letter No. S-543/D.04/2016 in conjunction with continuing public offering of Mandiri Tunas Finance continuing Bonds IIi Phase I Year 2016 (“continuing Bonds III”) with a nominal value of Rp500,000 which consist of two series:
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
63
15. SURAT BERHARGA YANG DITERBITKAN (lanjutan)
15. SECURITIES ISSUED (continued)
a. Utang obligasi (lanjutan) a. Bonds payable (continued)
Obligasi Berkelanjutan III (lanjutan) Continuing Bonds III (continued)
Obligasi Berkelanjutan III Mandiri Tunas Finance Tahap I Tahun 2016 (lanjutan)
Mandiri Tunas Finance Continuing Bonds III Phase I Year 2016 (continued)
Tingkat bunga tetap per tahun/ Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/ Bonds Nominal value rate per annum Due date Bonds principal instalment
Seri/Series A 400.000 8,20% 7 Oktober /7 October 2019
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
Seri/Series B 100.000 8,55% 7 Oktober /7 October 2021
Pembayaran penuh pada saat jatuh tempo/Bullet payment on due date.
Obligasi tersebut dijamin dengan piutang pembiayaan konsumen Perseroan sebesar minimum 60% untuk Obligasi Berkelanjutan III Tahap I dari pokok obligasi terutang. Pada tanggal 31 Desember 2016 piutang pembiayaan konsumen yang dijaminkan adalah sejumlah Rp292.762 dan piutang sewa pembiayaan yang dijaminkan adalah sejumlah Rp7.238 (lihat Catatan 5 dan 6). Jika jumlah piutang pembiayaan konsumen kurang dari yang dipersyaratkan, maka akan dipenuhi dari uang tunai yang ditempatkan pada rekening penampungan atas nama Perseroan yang ditunjuk oleh PT Bank Mega Tbk. selaku wali amanat untuk Obligasi Berkelanjutan III Tahap I.
These bonds are secured by the Company’s consumer financing receivables for a minimum amount of 60% of the nominal value of Continuing Bonds III Phase I. As of 31 December 2016 the amount of consumer financing receivables that was pledged as security for bonds payable are Rp292,762 and finance lease receivables that was pledged are Rp7,238 (refer to Notes 5 and 6). If the amount of consumer financing receivables is less than the requirement, the Company has to place sufficient cash into an escrow account established by PT Bank Mega Tbk. as trustee for Continuing Bonds III Phase I.
Dalam perjanjian perwaliamanatan juga diatur beberapa pembatasan yang harus dipenuhi oleh Perseroan, antara lain memberikan jaminan fidusia berupa piutang pembiayaan konsumen dan rasio jumlah pinjaman terhadap ekuitas tidak melebihi rasio 10:1. Selain itu, selama pokok obligasi belum dilunasi, Perseroan tidak diperkenankan, antara lain melakukan penggabungan usaha kecuali dilakukan pada bidang usaha yang sama serta menjual atau mengalihkan lebih dari 50% aset Perseroan kecuali untuk kegiatan usaha Perseroan sehari-hari.
The trustee agreement provides several negative covenants to the Company, among others, collateral with fiduciary transfer of consumer financing receivables and debt to equity ratio not to exceed 10:1. Moreover, during the year that the bonds principals are still outstanding, the Company is not allowed to, among others, merge unless performed on the same business and to sell or assign more than 50% of the Company’s asset, except for Company’s normal business transactions.
Perseroan telah memenuhi batasan-batasan yang diwajibkan dalam perjanjian tersebut diatas.
The Company has complied with the covenants on the trustee agreements.
PT Pefindo telah menetapkan peringkat idAA+ (Double A plus) terhadap obligasi berkelanjutan sesuai suratnya No. 1238/PEF-Dir/RC/VII/2016 tanggal 28 Juli 2016 untuk periode 28 Juli 2016 sampai dengan 1 Juli 2017.
PT Pefindo has rated idAA+ (Double A plus) the Continuing Bonds based on its report No. 1238/PEF-Dir/RC/VII/2016 dated 28 July 2016 for period 28 July 2016 until 1 July 2017.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
64
16. LIABILITAS IMBALAN KERJA KARYAWAN 16. EMPLOYEE BENEFITS OBLIGATION
Jumlah yang diakui dalam laporan laba rugi dan penghasilan komprehensif lain adalah sebagai berikut:
The amounts recognized in the statement of profit or loss and other comprehensive income are as follows:
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Biaya jasa kini 6.413 5.582 Current service costs Biaya bunga 3.313 2.385 Interest costs Biaya jasa lalu 415 473 Past service costs
10.141 8.440 Biaya pesangon pemutusan hubungan kerja 1.808 440 Termination
Total 11.949 8.880 Total
Mutasi liabilitas imbalan kerja karyawan pada laporan posisi keuangan adalah sebagai berikut:
The movements in employee benefits obligation in the statement of financial position are as follows:
31 Desember/ 31 Desember/ December 2016 December 2015
Saldo awal, 1 Januari 36.549 21.271 Beginning balance, 1 January Penyisihan pada laba rugi 11.949 8.880 Provision in profit or loss Penyisihan pada penghasilan Provision in other komprehensif lain 4.266 7.221 comprehensive income Pembayaran tahun berjalan (2.629) (823) Payment during the year
Saldo akhir 50.135 36.549 Ending balance
Mutasi nilai kini kewajiban imbalan kerja karyawan yang diakui pada laporan posisi keuangan adalah sebagai berikut:
The movements of present value of employee benefit obligation in the statements of financial position are as follows:
31 Desember/ 31 Desember/ December 2016 December 2015
Saldo awal, 1 Januari 36.549 21.271 Beginning balance, 1 January Biaya jasa kini 6.413 5.582 Current service costs Biaya bunga 3.313 2.385 Interest costs Biaya jasa lalu 415 473 Past service cost Pembayaran tahun berjalan (821) (383) Payments during the year (Keuntungan)/kerugian pada Actuarial (gains)/losses kewajiban aktuaria: on obligation: Perbedaan historis 826 10.172 Experience adjustment Asumsi demografik - (333) Demographic assumption Asumsi keuangan 3.440 (2.618) Financial assumption
Saldo akhir 50.135 36.549 Ending balance
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
65
16. LIABILITAS IMBALAN KERJA KARYAWAN (lanjutan)
16. EMPLOYEE BENEFITS OBLIGATION (continued)
Mutasi kerugian aktuarial yang diakui sebagai penghasilan komprehensif lain, bruto pajak tangguhan:
The movements in the balance of actuarial loss charged to other comprehensive income, gross deferred tax:
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Saldo awal, 1 Januari 15.327 8.106 Beginning balance, 1 January Kerugian aktuarial Actuarial losses yang diakui sebagai penghasilan charged to other komprehensif lain 4.266 7.221 comprehensive income
Saldo akhir 19.593 15.327 Ending balance
Liabilitas imbalan kerja karyawan pada tanggal 31 Desember 2016 dan 2015 dihitung oleh aktuaris independen PT Dayamandiri Dharmakonsilindo dengan menggunakan metode projected unit credit dalam laporan aktuarianya tanggal 3 Januari 2017 dan 14 Januari 2016. Asumsi-asumsi dasar yang digunakan aktuaris independen adalah sebagai berikut:
The liability for employee benefits as of 31 December 2016 and 2015 are calculated by independent actuary PT Dayamandiri Dharmakonsilindo which used the projected unit credit method in its report dated 3 January 2017 and 14 January 2016. The principal actuarial assumptions used by the independent actuary were as follows:
2016 2015
Tingkat diskonto 8,5% per tahun/per annum 9,2% pertahun/per annum Discount rate Tingkat kenaikan gaji 7% per tahun/per annum 7% per tahun/per annum Salary increment rate Tingkat kematian TMI 3 TMI 3 Rate of mortality Tingkat cacat 10% dari/fromTMI 3 10% dari/from TMI 3 Rate of disability Tingkat pengunduran diri 7% per tahun pada usia 7% per tahun pada usia Rate of resignations sampai dengan 40 tahun sampai dengan 40 tahun dan berkurang hingga dan berkurang hingga 0,00% pada usia 55 tahun/ 0,00% pada usia 55 tahun/ 7% per annum up to 40 7% per annum up to 40 years old and decrease years old and decrease linearly up to 0.00% at linearly up to 0.00% at 55 years old 55 years old Tingkat pensiun 100,00% usia pensiun 100,00% usia pensiun Rate of retirements normal/ normal/ 100,00% at normal 100,00% at normal retirement age retirement age
Tabel berikut menunjukkan sensitivitas atas kemungkinan perubahan tingkat diskonto dan tingkat kenaikan gaji sebesar 1%, dengan variabel lain dianggap tetap, terhadap nilai kini kewajiban imbalan kerja karyawan:
The following table demonstrates the sensitivity to a reasonably possible change in discount rates and salary increment rate of 1%, with all other variables held constant, of the present value of employee benefits obligation:
31 Desember/December 2016
Tingkat diskonto/ Tingkat kenaikan gaji/ Discount rate Salary increment rate
Kenaikan/ Penurunan/ Kenaikan/ Penurunan/ Increase Decrease Increase Decrease
Dampak pada nilai kini kewajiban Effect on present value of imbalan kerja karyawan (4.619) 5.365 5.570 (4.878) employee benefit obligation
31 Desember/December 2015
Tingkat diskonto/ Tingkat kenaikan gaji/ Discount rate Salary increment rate
Kenaikan/ Penurunan/ Kenaikan/ Penurunan/ Increase Decrease Increase Decrease
Dampak pada nilai kini kewajiban Effect on present value of imbalan kerja karyawan (3.421) 3.974 4.160 (3.641) employee benefit obligation
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
66
16. LIABILITAS IMBALAN KERJA KARYAWAN (lanjutan)
16. EMPLOYEE BENEFITS OBLIGATION (continued)
Analisa profil jatuh tempo pembayaran imbalan kerja karyawan pada tanggal 31 Desember 2016 dan 2015:
The maturity profile analysis of the employee benefits payments as of 31 December 2016 and 2015:
31 Desember/ 31 Desember/ December 2016 December 2015
1 tahun 2.378 1.068 1 years 2 - 5 tahun 12.439 9.965 2 - 5 years Lebih dari 5 tahun 123.184 95.461 More than 5 years
Saldo akhir 138.001 106.494 Ending balance
Durasi rata-rata tertimbang dari nilai kini kewajiban imbalan kerja karyawan diakhir periode pelaporan tanggal 31 Desember 2016 dan 2015 adalah 14,67 tahun dan 15,02 tahun.
The weighted average duration of the present value of employee benefits obligation at the end of reporting period as of 31 December 2016 dan 2015 is 14.67 years and 15.02 years.
17. MODAL SAHAM 17. SHARE CAPITAL
Komposisi pemegang saham Perseroan pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
The composition of the Company’s shareholders as of 31 December 2016 and 2015 are as follows:
Jumlah Persentase saham/ kepemilikan/ Number of Nilai/ Percentage of Pemegang saham shares Value ownership (%) Shareholders
PT Bank Mandiri (Persero) Tbk 1.275.000.000 127.500 51,00 PT Bank Mandiri (Persero) Tbk PT Tunas Ridean Tbk 1.225.000.000 122.500 49,00 PT Tunas Ridean Tbk
2.500.000.000 250.000 100,00
18. PENGGUNAAN LABA 18. PROFIT DISTRIBUTIONS
Cadangan wajib telah dibentuk sesuai dengan Undang-undang No. 40/2007 mengenai Perseroan Terbatas, yang mengharuskan perseroan Indonesia untuk membuat penyisihan cadangan wajib untuk ditentukan penggunaannya sebesar sekurang-kurangnya 20,00% dari jumlah modal Perseroan yang ditempatkan dan disetor penuh. Undang-undang tersebut tidak mengatur jangka waktu untuk mencapai cadangan wajib minimum tersebut. Saldo cadangan wajib pada tanggal 31 Desember 2016 dan 2015 adalah Rp50.000. Rapat Umum Pemegang Saham Tahunan tanggal 24 Februari 2016 memutuskan hal-hal sebagai berikut: - Menyetujui pembagian dividen final tahun 2015
sejumlah Rp30.680 dari laba neto tahun 2015.
A general reserve has been established in accordance with the Indonesian Limited Company Law No. 40/2007 which requires Indonesian companies to set up a general reserve amounting to at least 20.00% of the Company’s issued and paid up share capital. There is no set period of time over which this amount should be accumulated. The balance of the general reserve as of 31 December 2016 and 2015 is Rp50,000. The Annual General Shareholders Meeting on 24 February 2016 resolved the following: - Approval of the declaration of 2015 final
dividends amounting to Rp30,680 from the 2015 net income.
Rapat Umum Pemegang Saham Tahunan tanggal 13 April 2015 memutuskan hal-hal sebagai berikut: - Menyetujui pembagian dividen final tahun 2014
sejumlah Rp23.399 dari laba neto tahun 2014.
The Annual General Shareholders Meeting on 13 April 2015 resolved the following: - Approval of the declaration of 2014 final
dividends amounting to Rp23,399 from the 2014 net income.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
67
19. PENDAPATAN 19. REVENUE
a. Pembiayaan konsumen a. Consumer financing Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 Desember
2016 2015
Pihak ketiga Third parties Realisasi pendapatan Realized consumer pembiayaan konsumen 773.086 552.324 financing income Amortisasi biaya transaksi dan Amortization of transaction cost yield enhancing income 91.976 104.715 and yield enhancing income Pendapatan dari piutang Income yang mengalami penurunan nilai 14.352 7.336 from impaired asset Pendapatan dari pembiayaan Income from without bersama without recourse 891.600 757.429 recourse joint financing
1.771.014 1.421.804
Pihak berelasi Related parties Realisasi pendapatan Realized consumer pembiayaan konsumen 1.251 1.419 financing income
1.772.265 1.423.223
b. Sewa pembiayaan b. Financial lease
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Pihak ketiga Third parties Realisasi pendapatan Realized consumer pembiayaan konsumen 93.296 101.728 financing income Amortisasi biaya transaksi dan Amortization of transaction cost yield enhancing income (989) (2.087) and yield enhancing income
92.307 99.641
c. Bunga c. Interest
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Pihak ketiga Third parties Deposito berjangka Time deposits dan rekening koran 2.209 1.877 and current accounts Pihak berelasi Related parties Deposito berjangka Time deposits dan rekening koran 7.890 5.795 and current accounts
10.099 7.672
Lihat Catatan 24c untuk rincian saldo dan transaksi dengan pihak berelasi.
Refer to Note 24c for details of balances and transactions with related parties.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
68
19. PENDAPATAN (lanjutan) 19. REVENUE (continued)
d. Lain-lain - neto d. Others - net Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Pihak ketiga Third parties Komisi asuransi 230.894 208.803 Insurance commisions Pendapatan akseptasi klaim 103.119 70.133 Acceptance claim income Pendapatan penagihan 44.191 32.361 Collection income Pendapatan penalti 39.418 33.724 Penalty income Lain-lain 59.742 38.948 Others
477.364 383.969
Pihak berelasi Related parties Pendapatan akseptasi klaim 97.234 73.027 Acceptance claim income
574.598 456.996
Komisi asuransi merupakan pendapatan premi asuransi yang diterima oleh Perseroan sehubungan dengan kegiatan pembiayaan konsumen. Utang kepada perusahaan asuransi dicatat sebagai utang usaha di laporan posisi keuangan (lihat Catatan 11).
Insurance commissions represents insurance premiums income received by the Company in relation to consumer financing activities. The related payables to insurance companies are recorded as trade payables in the statement of financial position (refer to Note 11).
20. BEBAN KEUANGAN 20. FINANCIAL CHARGES Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Pihak ketiga Third parties Bunga pinjaman bank 431.808 321.027 Interest on bank loans Bunga surat berharga yang diterbitkan Securities issued interest: Medium-Term Notes - 1.769 Medium-Term Notes Utang obligasi 244.380 119.628 Bonds payable Administrasi dan provisi bank 39.991 34.293 Administration and bank provisions Amortisasi biaya emisi surat Amortization of securities berharga yang diterbitkan: issuance cost: Medium-Term Notes - 35 Medium-Term Notes Utang obligasi 5.195 2.583 Bonds payable Lain-lain 1.826 1.196 Others
723.200 480.531 Pihak berelasi Related parties Bunga pinjaman bank 198.063 222.590 Interest on bank loans
921.263 703.121
Lihat Catatan 24d untuk rincian saldo dan transaksi pihak berelasi.
Refer to Note 24d for details of balances and transactions with related parties.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
69
21. BEBAN GAJI DAN TUNJANGAN 21. SALARIES AND BENEFITS EXPENSES Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Pihak ketiga Third parties Gaji dan tunjangan 312.157 280.196 Salaries and allowances Imbalan pasca kerja karyawan 9.320 8.057 Post employment benefits Biaya pesangon 2.967 808 Termination
324.444 289.061 Pihak berelasi Related parties Gaji dan tunjangan 12.891 11.324 Salaries and allowances Tantiem 4.753 4.313 Tantiem
17.644 15.637
342.088 304.698
Lihat Catatan 24d untuk rincian saldo dan transaksi pihak berelasi.
Refer to Note 24d for details of balances and transactions with related parties.
22. BEBAN UMUM DAN ADMINISTRASI 22. GENERAL AND ADMINISTRATIVE EXPENSES Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Pihak ketiga Third parties Biaya penagihan 161.368 137.220 Collection fee Sewa 27.215 25.374 Rent Penyusutan aset tetap (Catatan 9) 20.880 17.670 Depreciation of fixed assets (Note 9) Komunikasi 15.297 13.870 Communications Perbaikan dan pemeliharaan 11.896 9.981 Repairs and maintenance Keamanan 11.484 10.046 Security Perjalanan dinas 6.657 12.405 Travelling Jasa pihak ketiga 6.643 8.983 Third parties service Listrik dan air 5.941 5.628 Utilities Alat tulis dan cetakan 5.660 6.560 Stationaries and printings Iuran OJK 4.925 3.830 OJK fees Jamuan bisnis 4.218 4.364 Corporate entertainment Rekrutmen dan pelatihan 3.667 3.335 Recruitment and training Jasa profesional 3.129 2.109 Professional fees Lain-lain 13.394 12.208 Others
302.374 273.583 Pihak berelasi Related parties Sewa 7.466 6.164 Rent
309.840 279.747
Lain-lain merupakan beban legal, perijinan, piknik perayaan, iklan, asuransi, sumbangan, publikasi, koran dan majalah.
Others represents legal, corporate event, advertising, insurance expenses, donation, publication, newspaper and magazine.
Lihat Catatan 24d untuk rincian saldo dan transaksi pihak berelasi.
Refer to Note 24d for details of balances and transactions with related parties.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
70
23. LABA PER SAHAM 23. EARNINGS PER SHARE Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Laba tahun berjalan 335.370 306.800 Income for the year
Number of ordinary shares Jumlah saham biasa yang beredar outstanding (in thousands) (dalam ribuan) (lihat Catatan 17) 2.500.000 2.500.000 (refer to Note 17)
Laba per saham dasar Basic earnings per share (nilai penuh) 134 123 (full amount)
24. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI
24. BALANCES AND TRANSACTIONS WITH RELATED PARTIES
Sifat hubungan dengan pihak berelasi The nature of relationships with related parties
Sifat hubungan dengan pihak berelasi adalah sebagai berikut:
The nature of relationships with related parties are as follows:
Sifat hubungan dengan pihak berelasi/ Pihak berelasi/Related parties Nature of relationship with the related parties
PT Bank Mandiri (Persero) Tbk. Pemegang saham mayoritas/Controlling shareholder PT Tunas Ridean Tbk. Pemegang saham minoritas/Minority shareholder PT Bumi Daya Plaza Mayoritas dimiliki oleh PT Bank Mandiri (Persero) Tbk./
Majority owned by PT Bank Mandiri (Persero) Tbk. PT Bank Mandiri Taspen Pos (dahulu/formerly PT Bank Sinar Harapan Bali)
Mayoritas dimiliki oleh PT Bank Mandiri (Persero) Tbk./ Majority owned by PT Bank Mandiri (Persero) Tbk.
PT AXA Mandiri Financial Service
Mayoritas dimiliki oleh PT Bank Mandiri (Persero) Tbk./ Majority owned by PT Bank Mandiri (Persero) Tbk.
PT Mandiri AXA General Insurance Mayoritas dimiliki oleh PT Bank Mandiri (Persero) Tbk./ Majority owned by PT Bank Mandiri (Persero) Tbk.
Dana Pensiun Bank Mandiri Bank Mandiri sebagai pendiri/Bank Mandiri as founder DPLK Bank Mandiri Bank Mandiri sebagai pendiri/Bank Mandiri as founder PT Bank Rakyat Indonesia (Persero) Tbk. Badan usaha milik negara/State-owned company PT Bank Negara Indonesia (Persero) Tbk. Badan usaha milik negara/State-owned company PT Bank Tabungan Negara (Persero) Tbk. Badan usaha milik negara/State-owned company BPJS Kesehatan & Ketenagakerjaan Badan usaha milik negara/State-owned company PT Adhi Karya Badan usaha milik negara/State-owned company PT Barata Indonesia (Persero) Badan usaha milik negara/State-owned company PT Taspen (Persero) Badan usaha milik negara/State-owned company PT Asuransi Jasa Indonesia (Persero) Badan usaha milik negara/State-owned company PT Asuransi Jasa Raharja Putra Badan usaha milik negara/State-owned company PT Perikanan Nusantara Badan usaha milik negara/State-owned company PT Pindad (Persero) PT Mandiri Sekuritas PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk PT Bank DKI PT Bank Pembangunan Daerah Jawa Timur Tbk
Badan usaha milik negara/State-owned company Dimiliki sebagian besar oleh PT Bank Mandiri (Persero) Tbk./ Badan usaha milik negara/State-owned company Badan usaha milik negara/State-owned company Badan usaha milik negara/State-owned company
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
71
24. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI (lanjutan)
24. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (continued)
Sifat hubungan dengan pihak berelasi (lanjutan) The nature of relationships with related parties
(continued)
Sifat hubungan dengan pihak berelasi adalah sebagai berikut: (lanjutan)
The nature of relationships with related parties are as follows: (continued)
Sifat hubungan dengan pihak berelasi/ Pihak berelasi/Related parties Nature of relationship with the related parties
PT Berdikari (Persero) Badan usaha milik negara/State-owned company PT Wahana Optima Permai
Dikendalikan oleh Dana Pensiun Bank Mandiri/Controlled by Bank Mandiri’s Pension Fund
Personil manajemen kunci Grup/Group’s key management personnel
Personil manajemen kunci Group Bank Mandiri/ Key management personnel of Bank Mandiri Group
Dalam kegiatan normal usaha, Perseroan melakukan transaksi dengan pihak berelasi karena hubungan kepemilikan dan/atau kepengurusan. Transaksi dengan pihak berelasi tersebut dilaksanakan dengan syarat dan kondisi yang sama sebagaimana dilakukan dengan pihak tidak berelasi. Perseroan mendapatkan suku bunga yang serupa untuk fasilitas pinjaman bank dengan pihak berelasi dan pihak ketiga. Perseroan juga menggunakan suku bunga yang serupa antara pihak berelasi dan pihak ketiga dalam rangka pemberian piutang pembiayaan konsumen.
In normal course of business, the Company enters into certain transactions with parties which are related to the management and/or owned by the same ultimate shareholder. Transactions with related parties were conducted under terms and conditions similar to those granted to third parties.The Company obtained similar interest rate for bank loan facilities from related parties and third parties. The Company also used similar interest rate between related parties and third parties for the consumer finance receivables.
Saldo dan transaksi dengan pihak berelasi adalah sebagai berikut:
Balances and transactions with related parties are as follows:
a. Aset a. Assets
31 Desember / 31 Desember/ December 2016 December 2015
Kas dan setara kas Cash and cash equivalents Kas pada bank (lihat Catatan 4) Cash in banks (refer to Note 4) PT Bank Mandiri (Persero) Tbk 160.950 17.634 PT Bank Mandiri (Persero) Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 1.296 1.035 (Persero) Tbk PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 43 75 (Persero) Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 24 23 Jawa Barat dan Banten Tbk PT Bank DKI 14 47 PT Bank DKI PT Bank Mandiri Taspen Pos 7 24 PT Bank Mandiri Taspen Pos
162.334 18.838
Deposito berjangka Time deposits PT Bank Mandiri Taspen Pos 50.000 50.000 PT Bank Mandiri Taspen Pos PT Bank Tabungan Negara PT Bank Tabungan Negara (Persero) Tbk 3 3 (Persero) Tbk
50.003 50.003
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
72
24. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI (lanjutan)
24. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (continued)
Saldo dan transaksi dengan pihak berelasi adalah sebagai berikut: (lanjutan)
Balances and transactions with related parties are as follows: (continued)
a. Aset (lanjutan) a. Assets (continued)
31 Desember / 31 Desember/ December 2016 December 2015
Piutang pembiayaan konsumen Consumer financing receivable Personel manajemen kunci Grup 10.522 5.833 Group’s key management personnel PT Adhi Karya (Persero) Tbk 4 30 PT Adhi Karya (Persero) Tbk PT Berdikari (Persero) 3 9 PT Berdikari (Persero) PT Perikanan Nusantara 3 12 PT Perikanan Nusantara PT Barata Indonesia (Persero) - 2 PT Barata Indonesia (Persero)
10.532 5.886
Piutang lain-lain Other receivables (lihat Catatan 7) (refer to Note 7) PT Bank Mandiri (Persero) Tbk 227.994 354.313 PT Bank Mandiri (Persero) Tbk PT Asuransi Jasa PT Asuransi Jasa Indonesia (Persero) 36.181 33.488 Indonesia (Persero) PT Mandiri Axa General PT Mandiri Axa General Insurance 9.790 - Insurance PT Tunas Ridean Tbk 620 620 PT Tunas Ridean Tbk
274.585 388.421
Sewa dibayar di muka Prepaid rent (lihat Catatan 10) (refer to Note 10) PT Bumi Daya Plaza 1.123 826 PT Bumi Daya Plaza PT Wahana Optima Permai 9 9 PT Wahana Optima Permai
1.132 835
Total aset Total assets associated with kepada pihak berelasi 498.586 463.983 related parties
Persentase terhadap total aset 4,37% 5,04% Percentage to total assets
Piutang lain-lain kepada pihak berelasi kepada PT Tunas Ridean Tbk dan PT Asuransi Jasa Indonesia (Persero) terutama berhubungan dengan transaksi usaha.
Other receivables from related parties to PT Tunas Ridean Tbk and PT Asuransi Jasa Indonesia (Persero) are in respect of trade activities.
Piutang lain-lain kepada pihak berelasi kepada PT Bank Mandiri (Persero) Tbk merupakan pembayaran ke dealer untuk porsi pembiayaan bersama yang dibayarkan terlebih dahulu oleh Perseroan.
Other receivables from related party to PT Bank Mandiri (Persero) Tbk represent payment to dealers for joint financing portion which was paid in advance by the Company.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
73
24. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI (lanjutan)
24. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (continued)
b. Liabilitas b. Liabilities
31 Desember/ 31 Desember/ December 2016 December 2015
Utang lain-lain (lihat Catatan 12) Other payables (refer to Note 12) PT Bank Mandiri (Persero) Tbk 106.493 44.563 PT Bank Mandiri (Persero) Tbk PT Tunas Ridean Tbk 240 240 PT Tunas Ridean Tbk
106.733 44.803
Beban yang masih harus dibayar (lihat Catatan 13) Accrued expenses (refer to Note 13) PT Bank Mandiri (Persero) Tbk 868 1.803 PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk - 32 (Persero) Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 1.567 2.285 Jawa Barat dan Banten Tbk PT Bank DKI 898 813 PT Bank DKI
3.333 4.933
Pinjaman bank (lihat Catatan 14) Bank loans (refer to Note 14) PT Bank Mandiri (Persero) Tbk 1.502.505 1.247.339 PT Bank Mandiri (Persero) Tbk PT Bank DKI 415.620 296.586 PT Bank DKI PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 409.494 519.624 Jawa Barat dan Banten Tbk PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk - 25.284 (Persero) Tbk
2.327.619 2.088.833
Surat berharga yang diterbitkan Securities issued (lihat Catatan 15) (refer to Note15) PT Taspen (Persero) 620.000 180.000 PT Taspen (Persero) PT Bank Rakyat Indonesia (Persero) 200.000 198.750 PT Bank Rakyat Indonesia (Persero) Dana Pensiun Bank Mandiri 148.000 110.000 Dana Pensiun Bank Mandiri PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Timur Tbk 40.000 80.000 Jawa Timur Tbk PT AXA Mandiri Financial Service 34.000 20.000 PT AXA Mandiri Financial Service PT Mandiri Sekuritas 21.000 - PT Mandiri Sekuritas PT Bumi Daya Plaza 7.000 5.000 PT Bumi Daya Plaza PT Asuransi Jasa Raharja Putra 5.000 5.000 PT Asuransi Jasa Raharja Putra PT Asuransi Jasa PT Asuransi Jasa Indonesia (Persero) 3.000 3.000 Indonesia (Persero) PT Mandiri AXA General Insurance 2.000 5.000 PT Mandiri AXA General Insurance DPLK Bank Mandiri 1.000 1.000 DPLK Bank Mandiri BPJS Kesehatan BPJS Kesehatan & Ketenagakerjaan - 25.000 & Ketenagakerjaan
1.081.000 632.750
Total liabilitas kepada pihak Total liabilities associated berelasi 3.518.685 2.771.319 with related parties
Persentase terhadap total liabilitas 35,44% 34,51% Percentageto total liabilities
Utang lain-lain kepada pihak berelasi terutama berhubungan dengan utang angsuran pokok termasuk bunga kepada pemberi pembiayaan bersama.
Other payables to related parties are mainly in respect of payables related with installments including interest to joint financing principals providers.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
74
24. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI (lanjutan)
24. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (continued)
c. Pendapatan c. Revenue
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Pembiayaan konsumen Consumer financing (lihat Catatan 19a) (refer to Note 19a) Personil manajemen kunci Grup 1.239 1.279 Group’s key management personnel PT Adhi Karya (Persero) Tbk 5 78 PT Adhi Karya (Persero) Tbk PT Perikanan Nusantara 5 6 PT Perikanan Nusantara PT Berdikari (Persero) 2 39 PT Berdikari (Persero) PT Pindad (Persero) - 4 PT Pindad (Persero) PT Barata Indonesia (Persero) - 1 PT Barata Indonesia (Persero) PT Perusahaan Perdagangan PT Perusahaan Perdagangan Indonesia - 12 Indonesia
1.251 1.419
Bunga (lihat Catatan 19c) Interest (refer to Note 19c) PT Bank Mandiri Taspen Pos PT Bank Mandiri Taspen Pos (dahulu PT Bank Sinar Harapan (formerly PT Bank Sinar Bali) 6.124 4.629 Harapan Bali) PT Bank Mandiri (Persero) Tbk 1.702 1.112 PT Bank Mandiri (Persero) Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 27 13 (Persero) Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 24 22 Jawa Barat dan Banten Tbk PT Bank DKI 13 18 PT Bank DKI PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk - 1 (Persero) Tbk
7.890 5.795
Lain-lain (lihat Catatan 19d) Others (refer to Note 19d) PT Asuransi Jasa PT Asuransi Jasa Indonesia (Persero) 70.986 70.027 Indonesia (Persero) PT Mandiri AXA PT Mandiri AXA General Insurance 26.248 3.000 General Insurance
97.234 73.027
Total pendapatan dari Total revenue associated pihak berelasi 106.375 80.241 with related parties
Persentase terhadap total pendapatan 4,34% 4,04% Percentage to total revenue
Pendapatan bunga berkaitan dengan penempatan dana kepada pihak berelasi dengan tingkat bunga 0,00% - 8,50% (2015: 0,00% - 9,25%).
Interest income relates to funds placement to related parties with interest rate from 0.00% - 8.50% (2015: 0.00% - 9.25%).
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
75
24. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI (lanjutan)
24. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (continued)
d. Beban d. Expenses
Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
General and Beban umum dan administrasi administrative expenses (lihat Catatan 22) (refer to Note 22) Beban sewa gedung Building rental expense PT Bumi Daya Plaza 7.378 6.008 PT Bumi Daya Plaza PT Wahana Optima Permai 88 156 PT Wahana Optima Permai
7.466 6.164
Beban gaji dan tunjangan Salaries and benefits (lihat Catatan 21) (refer to Note 21) Kompensasi Dewan Boards of Commissioners and Komisaris dan Direksi Directors compensation Dewan Komisaris Board of Commissioners Imbalan kerja jangka pendek: Short-term employee benefits: Gaji dan tunjangan 3.693 3.434 Salaries and allowances Tantiem 1.372 1.339 Tantiem Direksi Directors Imbalan kerja jangka pendek: Short-term employee benefits: Gaji dan tunjangan 9.198 7.890 Salaries and allowances Tantiem 3.381 2.974 Tantiem
17.644 15.637
Beban keuangan Financial charges (lihat Catatan 20) (refer to Note 20) PT Bank Mandiri (Persero) Tbk 103.861 151.891 PT Bank Mandiri (Persero) Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 52.980 34.646 Jawa Barat dan Banten Tbk PT Bank DKI 40.251 33.353 PT Bank DKI PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 971 2.700 (Persero) Tbk
198.063 222.590
Total beban kepada pihak Total expenses associated berelasi 223.173 244.391 with related parties
Persentase terhadap total beban 11,16% 15,50% Percentage to total expenses
25. MANAJEMEN RISIKO KEUANGAN 25. FINANCIAL RISK MANAGEMENT Pendahuluan dan gambaran umum Introduction and overview
Perseroan memiliki eksposur terhadap risiko-risiko sebagai berikut: • Risiko pasar • Risiko kredit • Risiko likuiditas • Risiko operasional
The Company has exposure to the following risks: • Market risk • Credit risk • Liquidity risk • Operational risk
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
76
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Kerangka manajemen risiko Risk management framework
Konsep manajemen risiko Perseroan adalah mengacu dari konsep Enterprise Risk Management (ERM) yang digunakan oleh induk entitas Perseroan yaitu PT Bank Mandiri (Persero) Tbk yang disesuaikan dengan kebutuhan bisnis dan operasional Perseroan. ERM adalah sebuah proses pengelolaan risiko yang melekat dalam proses bisnis Perseroan, artinya pengelolaan risiko menjadi bagian yang menyatu dalam pengambilan keputusan bisnis Perseroan sehari-hari. Dengan ERM, Perseroan akan memiliki kerangka kerja pengelolaan risiko yang sistematis dan menyeluruh (risiko kredit, risiko pasar dan risiko operasional) dengan menghubungkan pengelolaan modal dan proses bisnis dengan risiko yang dihadapi secara utuh. Tahun ini merupakan kelanjutan dari tahun-tahun sebelumnya terkait dengan “Penerapan Manajemen Risiko secara Konsolidasi bagi Bank yang Melakukan Pengendalian terhadap Entitas Anak”, yang dilaksanakan Perseroan dalam kapasitasnya sebagai Entitas Anak dari PT Bank Mandiri (Persero) Tbk, pemegang saham pengendali Perseroan. Kerangka pengelolaan risiko ini mengacu pada Peraturan Bank Indonesia (PBI) No. 5/8/PBI/2003 tanggal 19 Mei 2003 tentang Penerapan Manajemen Risiko bagi Bank Umum, sebagaimana telah diubah dengan PBI No. 11/25/PBI/2009 tanggal 1 Juli 2009 tentang Perubahan atas Peraturan Bank Indonesia Nomor 5/8/PBI/2003 tentang Penerapan Manajemen Risiko bagi Bank Umum. Kerangka ini tercantum dalam Kebijakan Manajemen Risiko Bank Mandiri (KMRBM) agar sejalan dengan rencana penerapan Basel II Accord secara bertahap di Indonesia. Dalam kerangka pengelolaan risiko tersebut diatur berbagai kebijakan agar manajemen risiko berfungsi sebagai business enabler sehingga bisnis dapat tetap tumbuh dalam koridor prinsip kehati-hatian dengan menerapkan proses manajemen risiko yang ideal (identifikasi - pengukuran - pemantauan - pengendalian risiko) pada semua level organisasi.
The concept of risk management of the Company refers to Enterprise Risk Management (ERM) implemented by PT Bank Mandiri (Persero) Tbk (parent company) which were adopted to the needs of business and operational of the Company. ERM is an inherent business risk management process in the Company’s business process, which means, risk management becomes part of daily business decision making. By using ERM, the Company will have systematic and comprehensive framework for risk management (credit risk, market risk and operational risk) by connecting capital management and business risk encountered as whole. This year is a continuation from previous years in term of “Implementation Of Consolidated Risk Management For Bank’s Controlling Subsidiary Companies”, which is implemented by the Company in its capacity as the Subsidiary of PT Bank Mandiri (Persero) Tbk, the controlling shareholder of the Company. This risk management framework refers to Bank Indonesia regulation (PBI) No 5/8/PBI/2003 dated 19 May 2003 concerning the Application of Risk Management for Commercial Bank as amended by PBI No.11/25/PBI/2009 dated on 1 July 2009 concerning the Amendment on Bank Indonesia Regulation No. 5/8/PBI/2003 concerning the Application of Risk Management for Commercial Bank. This framework is included in the Risk Management Policy of Bank Mandiri (KMRBM) in line with the plan to apply Basel II Accord gradually in Indonesia. Within this risk management framework, the Company set up a range of policies in order for risk management to function as a business enabler so that bussines can still grow within the corridor of prudential principle by applying the ideal risk management process (risk identification - measurement - monitoring - management risk) at all level of organization.
Lebih lanjut, kemitraan antara Perseroan dengan Entitas Induk merupakan hal yang sangat penting, mengingat keduanya menghadapi tantangan regional dan global yang sama dalam mengelola pertumbuhan bisnis yang cepat dan dalam suasana kompetisi yang ketat, namun pada saat yang bersamaan Perseroan harus tetap mampu menyelenggarakan praktik bisnis tersebut berdasarkan dan mengacu kepada prinsip kehati-hatian.
Further, the partnership between the Company and the parent company is a very important thing considering both have to faced the same regional and global challenge in managing fast business growth and strict competition, but at the same time the Company must implement such of business practices based on prudential principle.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
77
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Kerangka manajemen risiko (lanjutan) Risk management framework (continued)
Sebagai perusahaan yang bergerak di bidang pembiayaan, manajemen Perseroan memiliki komitmen penuh untuk menerapkan manajemen risiko secara komprehensif yang secara esensi mencakup kecukupan kebijakan, prosedur dan metodologi pengelolaan risiko sehingga kegiatan usaha Perseroan tetap dapat terarah dan terkendali pada batasan risiko yang dapat diterima, serta tetap menguntungkan Perseroan. Divisi Manajemen Risiko yang berperan secara aktif dalam mengkoordinasikan tindakan-tindakan pencegahan, proaktif dan responsif dengan seluruh karyawan dari berbagai tingkatan yang ada di dalam Perseroan untuk mendukung penerapan manajemen risiko ini, karena semua bagian di dalam Perseroan masing-masing akan memainkan peranan penting.
As a company engages in financing activities, the Company’s management is fully committed to implement risk management comprehensively, which essentially covers the adequacy of policies, procedures and risk management methodology, hence, the Company's business activities could remain be directed and controlled at an acceptable risk limit, at the same time the Company can still be profitable. Risk Management Division is playing an active role in coordinating preventive, proactive and responsive actions with all employees from various levels within the Company in order to support the implementation of risk management, because all divisions of the Company will play their respective important roles.
Dalam penerapan manajemen risiko, Perseroan menyadari pentingnya untuk memiliki sebuah mekanisme yang memadai dalam mengakomodasi risiko-risiko yang dihadapi oleh Perseroan. Perseroan memiliki suatu mekanisme yang bertumpu pada 4 (empat) pilar manajemen risiko, yang dapat diuraikan sebagai berikut:
In the implementation of risk management, the Company realizes the importance of having an adequate mechanism to accommodate the risks faced by the Company. The Company has a mechanism that is based upon 4 (four) risk management pillars, which could be described as follows:
Pilar 1: Pengawasan Aktif Dewan Komisaris dan Direksi
Pillar 1: Active Supervision by Boards of Commissioners and Directors
Pengawasan aktif tersebut tercermin sejak perencanaan bisnis tahunan, yang mencakup: • Menyetujui dan melakukan evaluasi kebijakan
manajemen risiko secara berkala; • Melakukan evaluasi dan menyetujui aktivitas yang
memerlukan persetujuan dari Dewan Komisaris atau Direksi;
• Menetapkan kebijakan dan strategi manajemen risiko termasuk penetapan otoritas dalam pemberian batasan serta tinjauan atas kualitas portofolio secara berkala;
• Terdapatnya Komite Audit dan sebagai organ Dewan Komisaris dalam melaksanakan fungsi pengawasannya; dan melalui Surat Edaran No. 030/SE/MTF/VI/2012 membentuk Forum Enterprise Risk Management dengan dikoordinir oleh Direktorat Risk Management PT Bank Mandiri (Persero) Tbk sebagai bentuk konsolidasi manajemen risiko.
Active supervision is reflected since annual business planning, which includes: • Approving and evaluating risk management
policieson a regular basis; • Evaluating and approving activities that require
approval from the Board of Commissioners or Directors;
• Establishing risk management policies and strategies, which include determining the authorization in limitsand reviewing the quality of portfolio on a regular basis;
• The presence of the Audit Committee as an organ of the Board of Commissioners in carrying out their supervisory functions; and through Circular Letter No. 030/SE/MTF/VI/2012 established Enterprised Risk Management Forum coordinated by PT Bank Mandiri (Persero) Tbk Risk Management Directorate in term of implementation of consolidated risk management.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
78
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Kerangka manajemen risiko (lanjutan) Risk management framework (continued)
Pilar 1: Pengawasan Aktif Dewan Komisaris dan Direksi (lanjutan)
Pillar 1: Active Supervision by Boards of Commissioners and Directors (continued)
Kerangka konsolidasi manajemen risiko dengan Entitas Induk dibentuk dengan menempatkan wakil dari Entitas Induk sebagai Kepala Divisi yang membawahi fungsi manajemen risiko Perseroan. Kerangka tersebut juga dilaksanakan melalui pemeriksaan kinerja secara berkala oleh Entitas Induk terhadap Perseroan, menyangkut kinerja keuangan, pengawasan sistem informasi akuntansi, serta tingkat kesehatan dan profil risiko dari piutang pembiayaan konsumen.
The consolidated risk management framework with Parent Company is established through assigning representatives from Parent Company as Division Head of Risk Management. The framework is also implemented through regular performance assessment by the Parent Company on the Company, concerning the financial performance, monitoring on accounting information system, as well as the level of soundness and risk profile of the Company’s consumer financing receivables.
Pilar 2: Kebijakan dan Penerapan Batasan Pillar 2: Policy and Implementation of Limits
Perseroan menyusun kebijakan-kebijakan manajemen risiko yang diperiksa secara berkala dan selalu disesuaikan dengan keadaan usaha terkini. Kebijakan tersebut diterjemahkan ke dalam Prosedur Operasi Standar dan Memo Internal yang disosialisasikan kepada seluruh karyawan. Perseroan juga memiliki kebijakan-kebijakan mengenai batasan persetujuan/otorisasi untuk transaksi kredit maupun yang bukan transaksi kredit.
The Company develops policies related to risk management, which are assessed periodically and aligned constantly to fit the most recent business situation. The policy is translated into Standard Operating Procedures and Internal Memo, which are being socialized to all employees. The Company also has policies regarding limitation on approval/authorization for both credit and non-credit transactions.
Salah satu contoh kemitraan dalam pengelolaan manajemen risiko antara Perseroan dan Entitas Induk adalah perjanjian kerjasama pemberian kredit without recourse dimana Perseroan bertindak sebagai agen untuk kegiatan seleksi konsumen, penagihan dan pengurusan dokumen administrasi berdasarkan batasan produk ataupun kriteria yang telah ditentukan sebelumnya oleh Entitas Induk. Kebijakan penyisihan kerugian penurunan nilai piutang Perseroan juga mengikuti kebijakan penyisihan pada Entitas Induk yang sejalan dan patuh terhadap Standar Akuntansi Keuangan di Indonesia.
An example of partnership between the Company and Parent Company in managing risk is joint financing without recourse agreement where the Company acts as an agent to underwrite, collect and administer consumer financing based on limitation of product or pre-determined criteria established by Parent Company. The Company’s policy in relation with allowance for impairment losses on receivables also comply with the Parent Company's policy, which is in line and in compliance with Indonesian Financial Accounting Standards.
Pilar 3: Identifikasi, Pengukuran, Pengawasan dan Sistem Informasi Manajemen
Pillar 3: Identification, Measurement, Monitoring and Management Information System
Perseroan memiliki perangkat untuk mengidentifikasi, mengukur dan mengawasi risiko terutama risiko kredit dan risiko operasional melalui mekanisme pelaporan dan sistem informasi manajemen yang ada serta melalui pertemuan berkala Forum Enterprise Risk Management (FERMA) dengan Entitas induk. Selain itu, sistem teknologi informasi utama Perseroan mampu menyediakan data/informasi secara cepat dan akurat kepada pihak manajemen, Entitas Induk atau pihak ketiga yang terkait lainnya.
The Company has a set of tools to identify, measure and monitor risks, especially credit risk and operational risk through the existing reporting and management information system mechanism, as well as through the regular meetings of the Company’s Enterprise Risk Management Forum (FERMA) with Parent Company. In addition, the Company’s major information technology system is capable of providing instant and accurate data/information to the management, Parent Company or other related third parties.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
79
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Kerangka manajemen risiko (lanjutan) Risk management framework (continued)
Pilar 3: Identifikasi, Pengukuran, Pengawasan dan Sistem Informasi Manajemen (lanjutan)
Pillar 3: Identification, Measurement, Monitoring and Management Information System (continued)
Kerangka konsolidasi manajemen risiko dengan Entitas Induk terlaksana melalui penyampaian paparan risiko Perseroan yang ada secara berkala kepada Komite Manajemen Risiko Entitas Induk, termasuk penyampaian laporan berkala terkait aspek kepatuhan, hukum dan lainnya kepada Entitas Induk.
The consolidated risk management framework with Parent Company is conducted through the reporting of the Company’s risk exposure periodically to Parent Company’s Risk Management Committee, including the periodic reporting in relation to the compliance, legal and other aspects to the Parent Company.
Pilar 4: Pengendalian Internal Pillar 4: Internal Control
Perseroan memiliki Divisi Audit Internal yang secara independen melaporkan proses dan hasil pemeriksaannya kepada Direktur Utama dan melakukan koordinasi dengan Komite Audit secara rutin setiap bulan. Akuntabilitas dari Divisi Audit Internal mencakup: • Menyediakan penilaian atas kecukupan dan
efektivitas dari semua proses yang ada di dalam Perseroan;
• Melaporkan masalah-masalah penting yang terkait dengan proses pengendalian aktivitas-aktivitas didalam Perseroan, termasuk perbaikan yang potensial terhadap proses-proses tersebut; dan
• Koordinasi dengan fungsi pengendali dan pengawasan lainnya (manajemen risiko, kepatuhan, hukum dan audit eksternal).
The Company has an Internal Audit Division which independently reports on the process and assessment result to the President Director and regularly coordinate with Audit Committee monthly. The accountability of the Internal Audit Division includes: • Providing assessment on the adequacy and
effectiveness of all existing processes within the Company;
• Reporting on important issues related to the control process of activities within the Company, including potential improvements to these processes; and
• Coordinating with other controlling and supervisory functions (risk management, compliance, legal and external audit).
Kerangka konsolidasi manajemen risiko dengan Entitas Induk juga dicerminkan dengan dilaksanakannya audit reguler/audit teknologi informasi/audit terintegrasi atas unit-unit di Perseroan oleh Satuan Kerja Audit Internal (SKAI) Entitas Induk.
The consolidated risk management framework with Parent Company is also reflected in the implementation of regular audit/information technology audit/integrated audit on the business units in the Company by Parent Company’s Internal Audit Unit (SKAI).
Guna penguatan pengendalian internal dan proses konsolidasi antara Entitas Induk dengan Entitas Anak, Kepala Divisi Internal Audit perseroan diseleksi dan ditetapkan oleh Entitas Induk sebelum ditempatkan di Perseroan.
For the purpose of strengthening Internal Control and consolidation process between Parent Company and Subsidiary Company, Head of Internal Audit Division is selected and determined by Parent Company before being assigned in the Company.
Risiko pasar Market risk
Risiko pasar merupakan risiko yang terutama disebabkan karena perubahan tingkat suku bunga, nilai tukar mata uang Rupiah, harga komoditas dan harga modal atau pinjaman, yang dapat membawa risiko bagi Perseroan. Dalam perencanaan usaha Perseroan, risiko pasar yang memiliki dampak langsung kepada Perseroan adalah dalam hal pengelolaan tingkat bunga.
Market risk is the risk which is primarily caused by the changes in interest rates, exchange rate of Rupiah currency, commodity prices and the price of capital or loans, which could expose to the Company. In the Company's business planning, market risk with direct impact to the Company is in terms of interest rates management.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
80
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Risiko pasar (lanjutan) Market risk (continued)
Perubahan tingkat bunga acuan akan menjadi risiko pada saat perubahannya, terutama ketika tingkat bunga dinaikkan, yang menyebabkan kerugian bagi Perseroan sehingga dapat menyebabkan risiko kredit Perseroan meningkat. Untuk itu, Perseroan menerapkan pengelolaan tingkat bunga tetap secara konsisten dengan menyesuaikan tingkat bunga kredit terhadap tingkat bunga pinjaman dan beban dana.
Changes in interest rates would become a risk at the point of change, especially when the interest rate is raised,which would cause losses to the Company, hence resulting in increased Company's credit risk. Therefore, the Company consistently implements fixed interest rate management by doing adjustment on lending interest rate and cost of funds.
Sumber pendanaan Perseroan yang terbesar berasal dari skema pembiayaan bersama dengan PT Bank Mandiri (Persero) Tbk. dengan tingkat bunga tetap dan jangka waktu yang sama dengan piutang pembiayaan konsumen.
The largest source of funding for the Company comes from a joint financing scheme with PT Bank Mandiri (Persero) Tbk with fixed interest rate and same period with the consumer financing receivables.
Perseroan juga menerbitkan obligasi dan medium-term notes yang sebagian besar mempunyai jangka waktu yang panjang, yaitu 3 (tiga) - 5 (lima) tahun dengan tingkat bunga tetap serta sejumlah kecil pinjaman dari bank swasta nasional dengan tingkat bunga tetap dan mengambang.
The Company’s funding source is also derived from the issuance of bonds and medium-term notes mostly for long-term, i.e. for 3 (three) - 5 (five) years, with fixed interest rates and as well as a small number of loans from the national private banks with fixed and floating interest rates.
Dengan pola aktivitas usaha yang dijalankan Perseroan saat ini, risiko pasar Perseroan adalah minimal. Perseroan tidak mempunyai kegiatan usaha pembiayaan konsumen dalam mata uang asing.
With the pattern of business activity currently operated by the Company, the market risk of the Company is minimal. The Company does not have consumer financing business in foreign currency.
Tabel berikut menggambarkan rincian aset dan liabilitas keuangan Perseroan yang dikelompokkan menurut mana yang lebih awal antara tanggal repricing atau tanggal jatuh tempo kontraktual untuk melihat dampak perubahan tingkat suku bunga (bruto):
The following tables summarize the Company’s financial assets and liabilities categorized by the earlier of contractual repricing or maturity dates to see the impact of changes in interest rates (gross):
31 Desember/December 2016
Tingkat bunga tetap/Fixed interest rate
Lebih dari 1 tahun Bunga Lebih dari 3 sampai 2 Tidak mengambang Kurang dari 1 1 bulan bulan sampai 1 tahun/ Lebih dari dikenakan <3 bulan/ bulan/Less sampai 3 bulan/ tahun/Over 3 Over 1 2 tahun/ bunga/No Floating Rate < 3 than 1 month months year to 2 Over 2 interest rate Jumlah/ months 1 month to 3 months to 1 year years years charges Total
Aset keuangan Financial assets Kas dan setara kas 233.820 - - - - - 24.074 257.894 Cash and cash equivalents Consumer financing Piutang pembiayaan konsumen - 241.879 485.978 2.191.289 2.816.876 4.231.499 - 9.967.521 receivable Piutang sewa pembiayaan - 37.679 71.936 281.095 262.868 180.905 - 834.483 Finance lease receivables Piutang lain lain - - - - - - 344.005 344.005 Other receivables Aset lain-lain - - - - - - 38.142 38.142 Other assets
Jumlah aset keuangan 233.820 279.558 557.914 2.472.384 3.079.744 4.412.404 406.221 11.442.045 Total financial assets
Liabilitas keuangan Financial liabilities Utang usaha - - - - - - 593.910 593.910 Trade payables Utang lain-lain - - - - - - 171.134 171.134 Other payables Beban bunga yang masih harus dibayar - 40.522 - - - - - 40.522 Accrued interest expenses Pinjaman bank - 501.393 570.336 1.996.755 1.788.168 752.500 - 5.609.152 Bank loans Surat berharga yang diterbitkan - - - 499.889 823.016 1.993.329 - 3.316.234 Securities issued
Jumlah liabilitas keuangan - 541.915 570.336 2.496.644 2.611.184 2.745.829 765.044 9.730.952 Total financial liabilities
Total interest Jumlah selisih penilaian bunga 233.820 (262.357) (12.422) (24.260) 468.560 1.666.575 (358.823) 1.711.093 repricing gap
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
81
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Risiko pasar (lanjutan) Market risk (continued)
Tabel berikut menggambarkan rincian aset dan liabilitas keuangan Perseroan yang dikelompokkan menurut mana yang lebih awal antara tanggal repricing atau tanggal jatuh tempo kontraktual untuk melihat dampak perubahan tingkat suku bunga (bruto): (lanjutan)
The following tables summarize the Company’s financial assets and liabilities categorized by the earlier of contractual repricing or maturity dates to see the impact of changes in interest rates (gross): (continued)
31 Desember/December 2015
Tingkat bunga tetap/Fixed interest rate
Lebih dari 1 tahun Bunga Lebih dari 3 sampai 2 Tidak mengambang Kurang dari 1 1 bulan bulan sampai 1 tahun/ Lebih dari dikenakan <3 bulan/ bulan/Less sampai 3 bulan/ tahun/Over 3 Over 1 2 tahun/ bunga/No Floating Rate < 3 than 1 month months year to 2 Over 2 interest rate Jumlah/ months 1 month to 3 months to 1 year years years charges Total
Aset keuangan Financial assets Kas dan setara kas 72.028 - - - - - 19.938 91.966 Cash and cash equivalents Consumer financing Piutang pembiayaan konsumen - 198.820 399.562 1.801.236 2.292.321 3.461.973 - 8.153.912 receivable Piutang sewa pembiayaan - 31.853 59.275 227.853 189.749 95.420 - 604.150 Finance lease receivables Piutang lain lain - - - - - - 465.344 465.344 Other receivables Aset lain-lain - - - - - - 21.370 21.370 Other assets
Jumlah aset keuangan 72.028 230.673 458.837 2.029.089 2.482.070 3.557.393 506.652 9.336.742 Total financial assets
Liabilitas keuangan Financial liabilities Utang usaha - - - - - - 390.262 390.262 Trade payables Utang lain-lain - - - - - - 101.480 101.480 Other payables Beban bunga yang masih harus dibayar - 25.735 - - - - - 25.735 Accrued interest expenses Pinjaman bank - 445.188 497.140 1.942.132 1.822.299 779.831 - 5.486.590 Bank loans Surat berharga yang diterbitkan - - - 424.921 499.478 921.011 - 1.845.410 Securities issued
Jumlah liabilitas keuangan - 470.923 497.140 2.367.053 2.321.777 1.700.842 491.742 7.849.477 Total financial liabilities
Total interest Jumlah selisih penilaian bunga 72.028 (240.250) (38.303) (337.964) 160.293 1.856.551 14.910 1.487.265 repricing gap
Risiko kredit Credit risk
Pengelolaan risiko kredit perseroan diarahkan untuk meningkatkan keseimbangan antara ekspansi kredit yang sehat dengan pengelolaan kredit secara prudent agar terhindar dari penurunan kualitas atau menjadi Non Performing Loan (NPL), serta mengelola penggunaan modal untuk memperoleh return yang optimal. Dimulai dari proses awal penerimaan aplikasi kredit yang selektif dan ditangani dengan prinsip kehati-hatian, yang mana aplikasi kredit akan melalui proses survey dan analisa kredit sebelum disetujui oleh Komite Kredit. Perseroan juga menerapkan Pedoman Penerapan Prinsip Mengenal Nasabah yang diatur oleh Peraturan Menteri Keuangan No.30/PMK.010/2010 tentang Penerapan Prinsip Mengenal Nasabah bagi Lembaga Keuangan Non Bank dan Peraturan Ketua Bapepam-LK No.PER-05/BL/2011 tentang Pedoman Penerapan Prinsip Mengenal Nasabah bagi Perseroan Pembiayaan. Tahun 2012, Perseroan juga telah menjalankan aturan uang muka kendaraan sesuai dengan Peraturan Menteri Keuangan No.43/PMK.010/2012 tentang Uang Muka Pembiayaan Konsumen untuk kendaraan Bermotor Pada Perusahaan Pembiayaan serta Surat Edaran BI No.14/10/DPNP tanggal 15 Maret 2012 tentang Penerapan Manajemen Risiko pada Bank yang Melakukan Pemberian Kredit Pemilikan Rumah dan Kredit Kendaraan Bermotor yang diberlakukan sejak 15 Juni 2012.
The Company’s credit risk management is directed to improve the balance between healthy credit expansion with a prudent credit management to avoid from the decline in the quality or being Non Performing Loan (NPL), as well as, capital management to earn optimal return. It starts from the process of receiving credit applications selectively and handling them with prudence principle, where by the credit application would go through survey and credit analysis process before being approved by the Credit Committee. The Company also implemented the Manual for Implementation of Know Your Customer Principles as regulated in the Ministry of Finance Regulation No.30/PMK.010/2010 regarding the Implementation of Know Your Customer Principles for Non-Banking Financial Institutions and the Chairman of the Capital Market and Financial Institution Supervisory Board (Bapepam-LK) Regulation No.PER-05/BL/2011 regarding the Manual for Implementation of Know Your Customer Principles for Multifinance Companies. In 2012, the Company also has implemented down payment regulation as regulated in the Ministry of Finance Regulation No.43/PMK.010/2012 concerning Down Payment for Consumer Financing, and Bank Indonesia Cirrcular Letter No.14/10/DPNP dated 15 March 2012 concerning The Application of Bank’s Risk Management on Mortgages and Motor Vehicle Credit effective 15 June 2012.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
82
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
Untuk setiap kategori aset keuangan, Perseroan harus mengungkapkan eksposur maksimum terhadap risiko kredit dan analisa konsentrasi risiko kredit.
For each financial asset category, the Company should disclose maximum exposure to credit risk and concentration of credit risk analysis.
i. Eksposur maksimum terhadap risiko kredit i. Maximum exposure to credit risk
Nilai tercatat dari aset keuangan Perseroan selain piutang sewa pembiayaan dan piutang pembiayaan konsumen menggambarkan eksposur maksimum atas risiko tersebut. Dalam hal piutang pembiayaan konsumen dan sewa pembiayaan, Perseroan menggunakan agunan untuk meminimalkan risiko kredit. Perseroan menetapkan jenis dan nilai agunan yang diterima antara lain tanah, bangunan dan Bukti Pemilikan Kendaraan Bermotor (BPKB) atas kendaraan yang dibiayai Perseroan. Apabila terjadi default (gagal bayar), Perseroan akan menggunakan agunan tersebut sebagai pilihan terakhir untuk pemenuhan kewajiban counterparty.
The carrying amount of the Company’s financial assets other than finance lease receivables and consumer financing receivables represent the maximum exposure of credit. In case of consumer financing and finance lease receivables, the Company uses the collateral to minimize the credit risk. The Company determined the type and value of collaterals accepted such as land, buildings, and Certificate of Ownership of the vehicles financed by the Company. In times of default, the Company will use the collateral as the last resort in recovering the obligation of the counterparty.
ii. Analisis konsentrasi risiko kredit ii. Concentration of credit risk analysis
Konsentrasi risiko kredit timbul ketika sejumlah pelanggan bergerak dalam aktivitas usaha yang sama atau aktivitas dalam wilayah geografis yang sama, atau ketika mereka memiliki karakteristik yang sejenis yang akan menyebabkan kemampuan untuk memenuhi kewajiban kontraktualnya sama-sama dipengaruhi oleh perubahan kondisi ekonomi atau yang lainnya.
Concentrations of credit risk arise when a number of customers are engaged in similar business activities or activities within the same geographic region, or when they have similar characteristics that would cause their ability to meet contractual obligations to be similarly affected by changes in economic or other conditions.
Perseroan bergerak di bidang usaha pembiayaan konsumen yang pelanggannya kebanyakan adalah individu dan tidak terkonsentrasi pada wilayah geografis tertentu.
The Company is currently engaged in consumer financing business in which the customers are mainly individuals and they are not concentrated in the specific geographic region.
Tabel berikut menggambarkan jumlah risiko kredit dan konsentrasi risiko aset keuangan konsumen yang dimiliki Perseroan (bruto):
The following tables set out the total credit risk and risk concentration of financial assets of the Company (gross):
a. Sektor geografis a. Geographical sector 31 Desember/December 2016
Lainnya/ Jumlah/ Jawa Bali Sumatera Kalimantan Sulawesi Others Total
Kas dan setara kas 232.524 720 279 297 - 233.820 Cash and cash equivalents Piutang pembiayaan Consumer financing konsumen: receivables: perorangan 6.779.693 1.743.318 661.274 783.236 - 9.967.521 individual Piutang sewa pembiayaan: Finance lease receivables: korporasi 766.315 291 2.944 64.933 - 834.483 corporate Piutang lain-lain 10.449 2.392 1.082 972 329.110 344.005 Other receivables Aset lain-lain 335 (50 ) 15 4 37.838 38.142 Other assets
7.789.316 1.746.671 665.594 849.442 366.948 11.417.971
31 Desember/December 2015
Lainnya/ Jumlah/ Jawa Bali Sumatera Kalimantan Sulawesi Others Total
Kas dan setara kas 71.200 485 341 2 - 72.028 Cash and cash equivalents Piutang pembiayaan Consumer financing konsumen: receivables: perorangan 5.031.972 1.944.642 623.977 551.430 1.891 8.153.912 individual Piutang sewa pembiayaan: Finance lease receivables: korporasi 481.779 - 4.995 117.376 - 604.150 corporate Piutang lain-lain 26.646 1.452 637 503 436.106 465.344 Other receivables Aset lain-lain (2) (107) 15 50 21.414 21.370 Other assets
5.611.595 1.946.472 629.965 669.361 459.411 9.316.804
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
83
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
ii. Analisis konsentrasi risiko kredit (lanjutan) ii. Concentration of credit risk analysis (continued)
b. Sektor industri b. Industry sector
31 Desember/December 2016
Lembaga Keuangan/ Financial Konsumen/ Lain-lain/ Jumlah/ Institution Customers Others Total
Kas dan setara kas 233.820 - - 233.820 Cash and cash equivalents Piutang pembiayaan Consumer financing konsumen: receivables:
perorangan - 9.967.521 - 9.967.521 individual Piutang sewa pembiayaan: Finance lease receivables: korporasi - 834.483 - 834.483 corporate Piutang lain-lain - - 344.005 344.005 Other receivables Aset lain-lain - - 38.142 38.142 Other assets
233.820 10.802.004 382.147 11.417.971
31 Desember/December 2015
Lembaga Keuangan/ Financial Konsumen/ Lain-lain/ Jumlah/ Institution Customers Others Total
Kas dan setara kas 72.028 - - 72.028 Cash and cash equivalents Piutang pembiayaan Consumer financing konsumen: receivables:
perorangan - 8.153.912 - 8.153.912 individual Piutang sewa pembiayaan: Finance lease receivables: korporasi - 604.150 - 604.150 corporate Piutang lain-lain - - 465.344 465.344 Other receivables Aset lain-lain - - 21.370 21.370 Other assets
72.028 8.758.062 486.714 9.316.804
c. Berdasarkan kualitas kredit dari aset
keuangan c. Based on quality of financial assets
Pada tanggal 31 Desember 2016 dan 2015, eksposur risiko kredit atas aset keuangan terbagi atas:
As of 31 December 2016 and 2015, credit risk exposure of financial asset is divided into:
31 Desember/December 2016
Cadangan Jatuh tempo kerugian dan tidak penurunan Belum jatuh tempo dan mengalami Mengalami nilai/ tidak mengalami penurunan penurunan Allowance for penurunan nilai/ Neither nilai/Past due nilai/ impairment Jumlah/ past due nor impaired but not impaired Impaired losses Total
High grade Standard grade
Kas dan setara kas 233.820 - - - - 233.820 Cash and cash equivalent Piutang pembiayaan Consumer financing konsumen: receivables: perorangan 9.056.501 292 649.780 260.948 (298.650 ) 9.668.871 individual Piutang sewa pembiayaan: Finance lease receivables: korporasi 788.684 - 35.031 10.768 (4.538 ) 829.945 corporate Piutang lain-lain 344.005 - - - - 344.005 Other receivables Aset lain-lain 38.142 - - - - 38.142 Other assets 10.461.152 292 684.811 271.716 (303.188 ) 11.114.783
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
84
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
ii. Analisis konsentrasi risiko kredit (lanjutan) ii. Concentration of credit risk analysis (continued)
c. Berdasarkan kualitas kredit dari aset
keuangan (lanjutan) c. Based on quality of financial assets
(continued)
Pada tanggal 31 Desember 2016 dan 2015 eksposur risiko kredit atas aset keuangan terbagi atas: (lanjutan)
As of 31 December 2016 and 2015 credit risk exposure of financial asset is divided into: (continued)
31 Desember/December 2015
Cadangan Jatuh tempo kerugian dan tidak penurunan Belum jatuh tempo dan mengalami Mengalami nilai/ tidak mengalami penurunan penurunan Allowance for penurunan nilai/Neither nilai/Past due nilai/ impairment Jumlah/ past due nor impaired but not impaired Impaired losses Total
High grade Standard grade
Kas dan setara kas 72.028 - - - - 72.028 Cash and cash equivalent Piutang pembiayaan Consumer financing konsumen: receivables: perorangan 2.653.544 4.862.694 501.081 136.593 (270.477 ) 7.883.435 individual Piutang sewa pembiayaan: Finance lease receivables: korporasi 568.663 - 32.437 3.050 (5.791 ) 598.359 corporate Piutang lain-lain 465.344 - - - (785 ) 464.559 Other receivables Aset lain-lain 21.370 - - - - 21.370 Other assets 3.780.949 4.862.694 533.518 139.643 (277.053 ) 9.039.751
Penjelasan pembagian kualitas kredit yang diberikan yang belum jatuh tempo dan tidak mengalami penurunan nilai: - High grade, yaitu tidak pernah mengalami
tunggakan sebelumnya. - Standard grade, yaitu pernah mengalami
tunggakan sebelumnya, namun sampai saat ini belum terdapat keterlambatan dalam pembayaran cicilan pokok dan bunga.
The explanation of loan under quality “neither past due nor impaired” were as follows: - High grade, which never have past
due in the past. - Standard grade, which have past due
in the past but until now there has not been overdue in payment of principal and interest.
Piutang pembiayaan konsumen dan piutang sewa pembiayaan yang pembayaran angsurannya menunggak lebih dari 90 hari diklasifikasikan sebagai aset keuangan yang mengalami penurunan nilai.
Consumer financing and finance lease receivables which installments are overdue for more than 90 days are classified as impaired financial assets.
Sebagai jaminan atas piutang pembiayaan konsumen yang diberikan, Perseroan menerima jaminan dari konsumen berupa Bukti Pemilikan Kendaraan Bermotor (“BPKB”) atas kendaraan bermotor yang dibiayai Perseroan.
As collateral to the consumer financing receivables, the Company receives the Certificates of Ownership (“BPKB”) of the motor vehicles financed by the Company.
Tabel berikut menunjukkan aging analysis terhadap piutang pembiayaan konsumen dan piutang sewa pembiayaan yang telah jatuh tempo tetapi tidak mengalami penurunan nilai.
The following table summarizes the aging analysis of consumer financing receivables and finance lease receivables which are past due but not impaired.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
85
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
ii. Analisis konsentrasi risiko kredit (lanjutan) ii. Concentration of credit risk analysis (continued)
c. Berdasarkan kualitas kredit dari aset
keuangan (lanjutan) c. Based on quality of financial assets
(continued)
31 Desember/December 2016
Jumlah/ 1-30 hari/days 31-60 hari/days 61-90 hari/days Total
Piutang pembiayaan Consumer financing konsumen: receivables: perorangan 405.370 156.665 87.745 649.780 individual Piutang sewa pembiayaan: Finance lease receivables: korporasi 21.139 11.902 1.990 35.031 corporate
426.509 168.567 89.735 684.811
31 Desember/December 2015
Jumlah/ 1-30 hari/days 31-60 hari/days 61-90 hari/days Total
Piutang pembiayaan Consumer financing konsumen: receivables: perorangan 316.144 122.908 62.029 501.081 individual Piutang sewa pembiayaan: Finance lease receivables: korporasi 26.858 4.757 822 32.437 corporate
343.002 127.665 62.851 533.518
Risiko likuiditas Liquidity risk
Risiko likuiditas merupakan risiko, yang mana Perseroan tidak memiliki sumber keuangan yang mencukupi untuk memenuhi kewajibannya yang telah jatuh tempo. Mengingat Perseroan memperoleh dukungan keuangan yang kuat dari Entitas Induk melalui skema pembiayaan bersama, maka risiko ini dapat dikelola dengan baik.
Liquidity risk is the risk, whereby the Company does not have sufficient financial resources to discharge its matured liabilities. As the Company receives strong financial support from Parent Company through joint financing scheme, this risk could be managed properly.
Tabel berikut menggambarkan profil perbedaan jatuh tempo atas aset dan liabilitas keuangan Perseroan pada tanggal 31 Desember 2016 dan 2015:
The following table summarizes the maturity gap profile ofthe Company’s financial assets and liabilities as of 31 December 2016 and 2015:
31 Desember/December 2016
Tidak Lebih dari 6 mempunyai Kurang dari bulan sampai 1 Lebih dari kontrak jatuh Nilai satu bulan/ 1-6 tahun/Over than 1 tahun/ tempo/No tercatat/ Less than bulan/ 6 months up to Over than contractual Carrying one month months 1 year 1 year maturity value
ASET ASSETS Kas dan setara kas 233.820 - - - 24.074 257.894 Cash and cash equivalents Piutang pembiayaan konsumen 241.879 1.217.795 1.459.472 7.048.375 9.967.521 Consumer financing receivables Piutang sewa pembiayaan 37.679 169.672 183.360 443.772 834.483 Finance lease receivables Piutang lain-lain 343.220 - - - 785 344.005 Other receivables Aset lain-lain - - - - 38.142 38.142 Other assets
Total aset 856.598 1.387.467 1.642.832 7.492.147 63.001 11.442.045 Total assets
LIABILITAS LIABILITIES Utang usaha 593.910 - - - - 593.910 Trade payables Utang lain-lain 171.134 - - - - 171.134 Other payables Beban bunga yang Accrued masih harus dibayar 40.522 - - - - 40.522 interest expenses Pinjaman bank 501.393 1.307.326 1.259.765 2.540.668 - 5.609.152 Bank loans Surat berharga yang diterbitkan - 499.890 - 2.816.344 - 3.316.234 Securities issued
Total liabilitas 1.306.959 1.807.216 1.259.765 5.357.012 - 9.730.952 Total liabilities
Total perbedaan jatuh tempo (450.361 ) (419.749 ) 383.067 2.135.135 63.001 1.711.093 Total maturity gap
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
86
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Risiko likuiditas (lanjutan) Liquidity risk (continued)
Tabel berikut menggambarkan profil perbedaan jatuh tempo atas aset dan liabilitas keuangan Perseroan pada tanggal 31 Desember 2016 dan 2015: (lanjutan)
The following table summarizes the maturity gap profile of the Company’s financial assets and liabilities as of 31 December 2016 and 2015: (continued)
31 Desember/December 2015
Tidak Lebih dari 6 mempunyai Kurang dari bulan sampai 1 Lebih dari kontrak jatuh Nilai satu bulan/ 1-6 tahun/Over than 1 tahun/ tempo/No tercatat/ Less than bulan/ 6 months up to Over than contractual Carrying one month months 1 year 1 year maturity value
ASET ASSETS Kas dan setara kas 72.028 - - - 19.938 91.966 Cash and cash equivalents Piutang pembiayaan konsumen 198.820 1.000.677 1.200.121 5.754.294 - 8.153.912 Consumer financing receivables Piutang sewa pembiayaan 31.853 142.079 145.049 285.169 - 604.150 Finance lease receivables Piutang lain-lain 354.313 - - - 111.031 465.344 Other receivables Aset lain-lain - - - - 21.370 21.370 Other assets
Total aset 657.014 1.142.756 1.345.170 6.039.463 152.339 9.336.742 Total assets
LIABILITAS LIABILITIES Utang usaha 390.262 - - - - 390.262 Trade payables Utang lain-lain 101.480 - - - - 101.480 Other payables Beban bunga yang Accrued masih harus dibayar 25.735 - - - - 25.735 interest expenses Pinjaman bank 445.188 1.193.087 1.246.185 2.602.130 - 5.486.590 Bank loans Surat berharga yang diterbitkan - 424.921 - 1.420.489 - 1.845.410 Securities issued
Total liabilitas 962.665 1.618.008 1.246.185 4.022.619 - 7.849.477 Total liabilities
Total perbedaan jatuh tempo (305.651) (475.252 ) 98.985 2.016.844 152.339 1.487.265 Total maturity gap
Tabel di bawah ini menunjukkan sisa jatuh tempo kontraktual dari liabilitas keuangan berdasarkan pada undiscounted cash flows pada tanggal 31 Desember 2016 dan 2015:
The tables below show the remaining contractual maturities of financial liabilities based on undiscounted cash flows as of 31 December 2016 and 2015:
31 Desember/December 2016
Tidak Lebih dari 6 mempunyai Kurang dari bulan sampai 1 Lebih dari kontrak jatuh Nilai satu bulan/ 1-6 tahun/Over than 1 tahun/ tempo/No tercatat/ Less than bulan/ 6 months up to Over than contractual Carrying one month months 1 year 1 year maturity value
LIABILITAS LIABILITIES Utang usaha 593.910 - - - - 593.910 Trade payables Utang lain-lain 171.134 - - - - 171.134 Other payables Beban bunga yang Accrued masih harus dibayar 40.522 - - - - 40.522 interest expenses Pinjaman bank 549.189 1.509.160 1.433.122 2.752.355 - 6.243.826 Bank loans Surat berharga yang diterbitkan - 657.603 - 3.482.153 - 4.139.756 Securities issued
Total 1.354.755 2.166.763 1.433.122 6.234.508 - 11.189.148 Total
31 Desember/December 2015
Tidak Lebih dari 6 mempunyai Kurang dari bulan sampai 1 Lebih dari kontrak jatuh Nilai satu bulan/ 1-6 tahun/Over than 1 tahun/ tempo/No tercatat/ Less than bulan/ 6 months up to Over than contractual Carrying one month months 1 year 1 year maturity value
LIABILITAS LIABILITIES Utang usaha 390.262 - - - - 390.262 Trade payables Utang lain-lain 101.480 - - - - 101.480 Other payables Beban bunga yang Accrued masih harus dibayar 25.735 - - - - 25.735 interest expenses Pinjaman bank 494.450 1.404.892 1.431.273 2.830.169 - 6.160.784 Bank loans Surat berharga yang diterbitkan - 514.759 73.369 1.641.770 - 2.229.898 Securities issued
Total 1.011.927 1.919.651 1.504.642 4.471.939 - 8.908.159 Total
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
87
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Risiko operasional Operational risk
Perseroan juga sangat peduli terhadap risiko operasional, karena permasalahan yang timbul sehubungan dengan risiko ini dapat berdampak dan berpengaruh luas terhadap kinerja Perseroan secara keseluruhan. Secara umum, risiko operasional merupakan risiko yang disebabkan karena kekurangan dan kegagalan proses internal, kesalahan manusia, kegagalan system ataupun permasalahan-permasalahan yang berdampak pada operasi Perseroan. Penanganan risiko operasional dalam Perseroan dilakukan dengan 3 (tiga) langkah, yaitu: - Pengidentifikasian risiko - Pengukuran risiko - Manajemen, pengawasan dan pengendalian
risiko
The Company is also very concerned about the operational risk, because the problems arised in relation with this risk could bring significant impact and affect to the overall Company’s performance. In general, operational risk is the risk caused by shortcomings and failures of internal processes, human errors, system failures or problems that could bring impact to the Company's operations. The operational risks in the Company are handled through 3 (three) steps as follows:
- Risk identification - Risk measurement - Risk management, supervision and control
Ketiga langkah di atas merupakan satu kesatuan proses yang tidak terpisahkan. Langkah di atas telah diterjemahkan Perseroan dalam mekanisme manajemen risiko operasional sebagai berikut:
The three steps above are inseparable unified process. The steps above have been converted to the Company's operational risk management mechanism as follows:
Operational Risk Management System (ORMS) Operational Risk Management System (ORMS)
ORMS merupakan implementasi dari kewajiban Perseroan sebagai Perseroan Anak dari PT Bank Mandiri (Persero) Tbk untuk melakukan pengendalian risiko operasional dengan cara melakukan pencatatan kejadian berisiko pada saat terjadinya kejadian berisiko tersebut, seperti yang diatur di dalam Peraturan Bank Indonesia No. 8/6/PBI/2006 tertanggal 30 Januari 2006 perihal “Penerapan Manajemen Risiko secara Konsolidasi bagi Bank yang Melakukan Pengendalian terhadap Perseroan Anak”.
ORMS is an implementation of the obligation of the Company as a Subsidiary of PT Bank Mandiri (Persero) Tbk to carry out operational risk control by recording risk event at the time this risk event occurred, as regulated in Bank Indonesia Regulation No. 8/6/PBI/2006 dated 30 January 2006 regarding "Implementation of Consolidated Risk Management for Banks Performing Control on Subsidiary Companies".
ORMS adalah sebuah aplikasi intranet berbasis web yang digunakan sebagai alat bantu pengelola risiko operasional yang dirancang agar pencatatan kejadian berisiko dapat dilakukan pada saat terjadinya kejadian berisiko tersebut dan direkam ke dalam database. Laporan yang terekam melalui menu laporan tersebut kemudian akan dipindahkan ke dalam aplikasi ORMS Entitas Induk sebagai bentuk dari perwujudan konsolidasi Laporan Risiko Operasional Bank.
ORMS is a web-based intranet application that is used as an operational risk management tool and is designed for recording the operational risk event at the time of occurrence of this risk event and stored into database. The report stored through the reporting menu would then be transferred to Parent Company’s ORMS application as the form of the consolidated Bank’s Operational Risk Report.
Manajemen permodalan Capital management
Tujuan Perseroan dalam mengelola permodalannya adalah menjaga kelangsungan usaha Perseroan untuk dapat memberikan hasil kepada pemegang saham dan manfaat kepada pemangku kepentingan lainnya, dan memelihara optimalisasi struktur permodalan untuk mengurangi biaya modal.
The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
88
25. MANAJEMEN RISIKO KEUANGAN (lanjutan) 25. FINANCIAL RISK MANAGEMENT (continued)
Manajemen permodalan (lanjutan) Capital management (continued)
Dalam rangka memelihara atau menyesuaikan struktur permodalan, Perseroan dapat menyesuaikan jumlah dividen yang dibayarkan kepada pemegang saham, imbalan hasil modal kepada pemegang saham atau menerbitkan saham baru untuk mengurangi pinjaman.
In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares to reduce debt.
Konsisten dengan pelaku industri lainnya, Perseroan memonitor permodalan berdasarkan gearing ratio. Rasio ini dihitung dari nilai bersih pinjaman (termasuk obligasi dan medium-term notes) dibagi dengan jumlah modal. Jumlah modal diambil dari ekuitas yang tercantum dalam laporan posisi keuangan.
Consistent with other players in the industry, the Company monitors capital on the basis of the gearing ratio. This ratio is calculated as net debt (including bonds payable and medium-term notes) divided by total capital. Total capital is calculated as equity shown in the statements of financial position.
Berdasarkan Peraturan Menteri Keuangan Republik Indonesia No. 84/PMK.012/2006 tanggal 26 September 2006 tentang Perusahan Pembiayaan, jumlah maksimum gearing ratio adalah sebesar 10 kali dari total modal.
Based on Minister of Finance of the Republic of Indonesia Regulation No. 84/PMK.012/2006 dated 26 September 2006 regarding Multifinance Company, the maximum gearing ratio is 10 times from total capital.
31 Desember/ 31 Desember/ December 2016 December 2015
Pinjaman Debt Pinjaman yang diterima - neto 5.609.152 5.486.590 Borrowings - net Obligasi 3.316.234 1.845.410 Bonds Payable
Total Pinjaman 8.925.386 7.332.000 Total Debt
Jumlah Modal 1.474.129 1.172.638 Total Capital
Gearing Ratio 6,05 6,25 Gearing Ratio
Perseroan senantiasa menjaga jumlah maksimum gearing ratio lebih kecil dari ketentuan yang ditetapkan melalui analisa alternatif pembiayaan baik melalui pinjaman bank, penerbitan obligasi ataupun optimalisasi dana joint financing. Perseroan juga menghitung biaya dana dari alternatif pembiayaan yang dipilih untuk memastikan biaya dana tersebut dapat menghasilkan pendapatan maksimum bagi Perseroan.
The Company always maintains the maximum amount of gearing ratio at lower level than the applicable regulation by performing an analysis to determine financing alternative whether through the bank loans, bonds issuance or joint financing fund optimization. The Company also calculates the cost of fund of each financing alternative selected by the Company to ensure it could generate a maximum income for the Company.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
89
26. NILAI WAJAR ASET DAN LIABILITAS KEUANGAN
26. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
Tabel di bawah ini menyajikan nilai tercatat dan nilai wajar dari instrumen keuangan Perseroan:
The following tables set out the carrying amounts and fair values of the Company’s financial instruments:
31 Desember/December 2016
Biaya perolehan diamortisasi Pinjaman yang lainnya/ diberikan dan Other Nilai tercatat/ piutang/Loans and amortized Carrying Nilai wajar/ receivables cost value Fair value
ASET KEUANGAN FINANCIAL ASSETS Kas dan setara kas 257.894 - 257.894 257.894 Cash and cash equivalents Piutang pembiayaan konsumen 9.668.871 - 9.668.871 10.519.966 Consumer financing receivables Piutang sewa pembiayaan 829.945 - 829.945 928.918 Finance lease receivables Piutang lain-lain 343.220 - 343.220 344.005 Other receivables Aset lain-lain 35.195 - 35.195 35.195 Other assets Total aset keuangan 11.135.125 - 11.135.125 12.085.978 Total financial assets
LIABILITAS KEUANGAN FINANCIAL LIABILITIES Utang usaha - 593.910 593.910 593.910 Trade payables Utang lain-lain - 171.134 171.134 171.134 Other payables Pinjaman bank - 5.609.152 5.609.152 5.644.324 Bank loans Beban bunga yang masih harus dibayar - 40.522 40.522 40.522 Accrued interest expenses Surat berharga yang diterbitkan - 3.316.234 3.316.234 3.304.169 Securities issued Total liabilitas keuangan - 9.730.952 9.730.952 9.754.059 Total financial liabilities
31 Desember/December 2015
Biaya perolehan diamortisasi Pinjaman yang lainnya/ diberikan dan Other Nilai tercatat/ piutang/Loans and amortized Carrying Nilai wajar/ receivables cost value Fair value
ASET KEUANGAN FINANCIAL ASSETS Kas dan setara kas 91.966 - 91.966 91.966 Cash and cash equivalents Piutang pembiayaan konsumen 7.883.435 - 7.883.435 8.607.911 Consumer financing receivables Piutang sewa pembiayaan 598.359 - 598.359 633.146 Finance lease receivables Piutang lain-lain 464.559 - 464.559 465.344 Other receivables Aset lain-lain 21.370 - 21.370 21.370 Other assets Total aset keuangan 9.059.689 - 9.059.689 9.819.737 Total financial assets
LIABILITAS KEUANGAN FINANCIAL LIABILITIES Utang usaha - 390.262 390.262 390.262 Trade payables Utang lain-lain - 101.480 101.480 101.480 Other payables Pinjaman bank - 5.486.590 5.486.590 5.589.972 Bank loans Beban bunga yang masih harus dibayar - 25.735 25.735 25.735 Accrued interest expenses Surat berharga yang diterbitkan - 1.845.410 1.845.410 1.841.756 Securities issued Total liabilitas keuangan - 7.849.477 7.849.477 7.949.205 Total financial liabilities
Tabel di bawah ini menyajikan analisa atas instrumen keuangan tersebut sesuai dengan masing-masing tingkat dalam hirarki nilai wajar:
The tables below present the analysis of the above financial instruments by the level in the fair value hierarchy:
31 Desember/December 2016
Nilai tercatat/ Tingkat 1/ Tingkat 2/ Tingkat 3/ Carrying value Level 1 Level 2 Level 3 Total
ASET KEUANGAN FINANCIAL ASSETS Piutang pembiayaan konsumen 9.668.871 - 10.519.966 - 10.519.966 Consumer financing receivables Piutang sewa pembiayaan 829.945 - 928.918 - 928.918 Finance lease receivables
Total 10.498.816 - 11.448.884 - 11.448.884 Total
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
90
26. NILAI WAJAR ASET DAN LIABILITAS KEUANGAN (lanjutan)
26. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (continued)
Tabel di bawah ini menyajikan analisa atas instrumen keuangan tersebut sesuai dengan masing-masing tingkat dalam hirarki nilai wajar: (lanjutan)
The tables below present the analysis of the above financial instruments by the level in the fair value hierarchy: (continued)
31 Desember/December 2016
Nilai tercatat/ Tingkat 1/ Tingkat 2/ Tingkat 3/ Carrying value Level 1 Level 2 Level 3 Total
LIABILITAS KEUANGAN FINANCIAL LIABILITIES Pinjaman bank 5.609.152 - 5.644.324 - 5.644.324 Bank loans Surat berharga yang diterbitkan 3.316.234 - 3.304.169 - 3.304.169 Securities issued
Total 8.925.386 - 8.948.493 - 8.948.493 Total
31 Desember/December 2015
Nilai tercatat/ Tingkat 1/ Tingkat 2/ Tingkat 3/ Carrying value Level 1 Level 2 Level 3 Total
ASET KEUANGAN FINANCIAL ASSETS Piutang pembiayaan konsumen 7.883.435 - 8.607.911 - 8.607.911 Consumer financing receivables Piutang sewa pembiayaan 598.359 - 633.146 - 633.146 Finance lease receivables
Total 8.481.794 - 9.241.057 - 9.241.057 Total
LIABILITAS KEUANGAN FINANCIAL LIABILITIES Pinjaman bank 5.486.590 - 5.589.972 - 5.589.972 Bank loans Surat berharga yang diterbitkan 1.845.410 - 1.841.756 - 1.841.756 Securities issued
Total 7.332.000 - 7.431.728 - 7.431.728 Total
Metode dan asumsi yang digunakan untuk estimasi nilai wajar adalah sebagai berikut:
The following methods and assumptions are used to estimate the fair values:
Nilai wajar kas dan setara kas, piutang lain-lain, aset lain-lain, utang usaha, beban bunga yang masih harus dibayar dan utang lain-lain mendekati nilai tercatat karena jangka waktu jatuh tempo yang singkat atas instrumen keuangan tersebut.
The fair value of cash and cash equivalents, other receivables, other assets, trade payables, accrued interest expenses and other payables approximate their carrying amounts largerly due to short-term maturities of these instruments.
Nilai wajar piutang pembiayaan konsumen, piutang sewa pembiayaan, pinjaman bank dan surat berharga yang diterbitkan dinilai menggunakan diskonto arus kas berdasarkan tingkat suku bunga pasar pada tanggal 31 Desember 2016 dan 2015.
The fair value of consumer financing receivables, finance lease receivables, bank loan and securities issued are determined by discounting cash flows using market interest rate as of 31 December 2016 and 2015.
27. PERJANJIAN KERJASAMA 27. COOPERATION AGREEMENTS
Pembiayaan bersama Joint financing
Perseroan mempunyai perjanjian kerjasama pembiayaan bersama without recourse dengan PT Bank Mandiri (Persero) Tbk. Perseroan bertindak sebagai agen untuk kegiatan seleksi konsumen, penagihan dan pengurusan dokumen administrasi dan mendapatkan pendapatan atas selisih marjin yang diterima dari konsumen dan yang dibayarkan ke pemberi pembiayaan bersama.
The Company entered into a joint financing without recourse agreement with PT Bank Mandiri (Persero) Tbk. The Company acts as an agent to underwrite collect and administer consumer financing and earns the spread between the margin received from customers and the interest paid to the joint financing provider.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
91
27. PERJANJIAN KERJASAMA (lanjutan) 27. COOPERATION AGREEMENTS (continued)
Pembiayaan bersama (lanjutan) Joint financing (continued)
Dalam perjanjian kerjasama dengan PT Bank Mandiri (Persero) Tbk, porsi fasilitas pembiayaan yang akan diberikan untuk konsumen dari masing-masing pihak adalah minimal 5,00% dari Perseroan dan maksimal 95,00% dari pemberi pembiayaan bersama. Sejak tanggal 20 Desember 2013, porsi fasilitas pembiayaan yang akan diberikan untuk konsumen dari masing-masing pihak adalah minimal 1,00% dari Perseroan dan maksimal 99,00% dari pemberi pembiayaan bersama.
Based on the agreements with PT Bank Mandiri (Persero) Tbk, the amount of funds to be financed by each party is a minimum of 5.00% from the Company and a maximum of 95.00% from joint financing providers. Since 20 December 2013, the amount of funds to be financed by each party is a minimum of 1.00% from the Company and a maximum of 99.00% from joint financing providers.
Pada tanggal 6 Februari 2009, Perseroan dan PT Bank Mandiri (Persero) Tbk menandatangani Perjanjian Kerjasama Pembiayaan Kendaraan Bermotor dengan total fasilitas pembiayaan bersama sebesar Rp2.000.000, dimana Perseroan menanggung risiko kredit sesuai dengan porsi pembiayaannya (without recourse). Perjanjian ini telah mengalami beberapa kali perubahan, perubahan terakhir melalui amandemen Perjanjian Kerjasama Kendaraan Bermotor antara PT Mandiri Tunas Finance dan PT Bank Mandiri (Persero) Tbk tertanggal 4 Desember 2014, yang menaikkan fasilitas pembiayaan bersama menjadi sebesar Rp20.500.000 dengan porsi fasilitas pembiayaan bersama sebesar minimal 1,00% dari Perseroan dan maksimal 99,00% dari pemberi pembiayaan bersama.
On 6 February 2009, the Company and PT Bank Mandiri (Persero) Tbk signed a Joint Financing Agreement with the total joint financing facility in the amount of Rp2,000,000, where by the Company bears the credit risk in accordance with its financing portion (without recourse). The agreement was amended several times, the latest by the amendment of the Joint Financing agreement between PT Mandiri Tunas Finance and PT Bank Mandiri (Persero) Tbk dated 4 December 2014, which increase the total joint financing facility to Rp20,500,000 with the portion of joint financing facility minimum of 1.00% from the Company and a maximum of 99.00% from joint financing providers.
Pada tanggal 29 Agustus 2013, Perseroan dan PT Bank Mandiri (Persero) Tbk menandatangani Perjanjian Kerjasama Pengambilalihan Piutang Pembiayaan dengan total fasilitas pembiayaan sebesar Rp1.100.000, dimana Perseroan menanggung risiko kredit sesuai dengan porsi pembiayaannya (without recourse). Perjanjian ini telah diperpanjang dengan jangka waktu sampai dengan tanggal 28 Februari 2017.
On 29 August 2013, the Company and PT Bank Mandiri (Persero) Tbk signed a Consumer Asset Purchase Agreement with the total facility in the amount of Rp1,100,000, whereby the Company bears the credit risk in accordance with its financing portion (without recourse). The agreement was extended with periods up to 28 February 2017.
Jumlah pembiayaan bersama dengan Bank Mandiri yang dikelola oleh Perseroan pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
Total joint financing amount with Bank Mandiri managed by the Company as of 31 December 2016 and 2015 are as follows:
31 Desember/ 31 Desember/ December 2016 December 2015
Jumlah pembiayaan 20.470.388 18.000.423 Amount financed Rata - rata jangka pembiayaan (tahun) 3 3 Average of financing period (years)
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
92
27. PERJANJIAN KERJASAMA (lanjutan) 27. COOPERATION AGREEMENTS (continued)
Asuransi Insurance
Dalam menjalankan usahanya, Perseroan bekerja sama dengan PT Asuransi Jasa Indonesia, PT Asuransi Sinar Mas, PT Asuransi Cakrawala Proteksi Indonesia, PT Asuransi Central Asia, PT Asuransi Bina Dana Arta Tbk, PT Chubb General Insurance Indonesia, PT Asuransi Adira, PT Asuransi AXA Indonesia, PT Mandiri Axa General Insurance (MAGI), PT Asuransi Wahana Tata, PT Asuransi Artarindo, PT MNC Asuransi Indonesia, PT Bess Central Insurance, PT Asuransi Kresna Mitra Tbk, PT Pan Pacific Insurance, PT BTN Jasindo Life, PT Asuransi Raksa Pratikara, PT Chubb Life Insurance, PT Asuransi Jiwa InHealth Indonesia dan PT Asuransi Mitra Pelindung Mustika (MPM).
PT In the course of business, the Company entered into insurance agreements with PT Asuransi Jasa Indonesia, PT Asuransi Sinar Mas, PT Asuransi Cakrawala Proteksi Indonesia, PT Asuransi Central Asia, PT Asuransi Bina Dana Arta Tbk, PT Chubb General Insurance Indonesia, PT Asuransi Adira, PT Asuransi AXA Indonesia, PT Mandiri Axa General Insurance (MAGI), PT Asuransi Wahana Tata, PT Asuransi Artarindo, PT MNC Asuransi Indonesia, PT Bess Central Insurance, PT Asuransi Kresna Mitra Tbk, PT Pan Pacific Insurance, PT BTN Jasindo Life, PT Asuransi Raksa Pratikara, PT Chubb Life Insurance, PT Asuransi Jiwa InHealth Indonesia and PT Asuransi Mitra Pelindung Mustika (MPM).
Sewa gedung Building rental
Pada tanggal 31 Agustus 2009, Perseroan menandatangani perjanjian sewa ruangan kantor dengan PT Bumi Daya Plaza yang tidak dapat dibatalkan untuk periode lima tahun. Perjanjian tersebut akan berakhir pada tahun 2014 dengan ketentuan pembayaran di muka sebesar Rp507 untuk setiap jangka waktu 3 bulan dan akan ditinjau kembali setiap satu tahun sekali dengan kenaikan tarif maksimal sebesar 5,00% per tahun.
On 31 August 2009, the Company signed an office space rental agreement with PT Bumi Daya Plaza which is non-cancellable for the period of five years and will expire in 2014. The Company is required to pay in advance of Rp507 for each quarter. The tariff will be reviewed on annual basis with a maximum tariff increase of 5.00% per annum.
Pada tanggal 21 Agustus 2014, Perseroan menandatangani pembaruan perjanjian sewa ruangan kantor dengan PT Bumi Daya Plaza yang tidak dapat dibatalkan untuk periode lima tahun. Perjanjian tersebut akan berakhir pada tahun 2019 dengan ketentuan pembayaran di muka sebesar Rp882 untuk setiap jangka waktu 3 bulan pada tahun pertama, Rp988 untuk setiap jangka waktu 3 bulan pada tahun kedua, Rp1.106 untuk setiap jangka waktu 3 bulan pada tahun ketiga, Rp1.239 untuk setiap jangka waktu 3 bulan pada tahun keempat, dan Rp1.388 untuk setiap jangka waktu 3 bulan pada tahun kelima.
On 21 August 2014, the Company signed a renewal of the office space rental agreement with PT Bumi Daya Plaza which is non-cancellable for the period of five years and will expire in 2019, in which the Company is required to pay in advance of Rp882 for each quarter in the first year, Rp988 for each quarter in the second year, Rp1,106 for each quarter in the third year, Rp1,239 for each quarter in the forth year, and Rp1,388 for each quarter in the fifth year.
Selama tahun 2016, Perseroan mencatat beban sewa sebesar Rp4.109 (2015: Rp3.737) dari sewa ruangan kantor ini.
During 2016, the Company recorded rental expense of Rp4,109 (2015: Rp3.737), from this office space rental.
Pada tanggal 31 Desember 2016 dan 2015, pembayaran sewa minimum masa depan dalam sewa operasi yang tidak dapat dibatalkan berdasarkan perjanjian sewa tersebut adalah sebagai berikut:
As of 31 December 2016 and 2015, the future minimum rental payments under non-cancellable operating leases under these lease agreement are as follows:
31 Desember/ 31 Desember/ December 2016 December 2015
Sampai dengan satu tahun 4.692 4.189 Within one year Lebih dari satu tahun sampai After one year but not more than lima tahun 8.030 12.722 five years
Total 12.722 16.911 Total
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
93
28. SEGMEN OPERASI 28. OPERATING SEGMENT
Segmen operasi Perseroan dibagi berdasarkan kelompok nasabah utama dan produk, sebagai berikut: Fleet dan Retail. Dalam menentukan hasil segmen, beberapa akun aset dan liabilitas serta pendapatan dan biaya yang terkait diatribusikan ke masing-masing segmen berdasarkan kebijakan pelaporan internal manajemen.
The Company’s operating segments represent the key customer and product groups, as follows: Fleet and Retail. In determining the segment results, certain assets and liabilities items and related revenues and expenses are attributed to each segment based on internal management reporting policies.
Ringkasan berikut menjelaskan operasi masing-masing segmen dalam pelaporan segmen Perseroan: - Fleet
Termasuk dalam pelaporan segmen fleet adalah seluruh indikator penilaian segmen operasi yang secara nyata dapat diatribusikan sebagai bagian dari pembiayaan untuk nasabah korporasi.
- Retail Termasuk dalam pelaporan segmen retail adalah seluruh indikator penilaian segmen operasi yang secara nyata dapat diatribusikan sebagai bagian dari pembiayaan konsumen untuk nasabah individu.
- Lain-lain Termasuk dalam pelaporan segmen lain-lain adalah informasi pelaporan segmen operasi terkait dengan aktivitas treasuri dan kantor pusat seperti pendapatan bunga bank dan beban umum dan administrasi yang tidak dapat dialokasikan.
The following summary describes the operations in each of the Company’s reportable segments: - Fleet
Included in the fleet segment reporting are operating segments assessment indicators that can be actually be attributed as part of financing to corporate customers.
- Retail Included in the retail segment reporting are operating segments assessment indicators that can be actually be attributed as part of consumer financing to individual customers.
- Others Included in the other segment reporting is reporting segment information associated with treasury and head office activities such as bank interest income and general and administrative expenses that can not be allocated.
Informasi mengenai hasil dari masing-masing bisnis segmen disajikan di bawah ini. Kinerja diukur berdasarkan laba segmen sebelum pajak penghasilan, sebagaimana dilaporkan dalam laporan internal manajemen yang ditelaah oleh manajemen Perseroan. Keuntungan segmen digunakan untuk mengukur kinerja dimana manajemen berkeyakinan bahwa informasi tersebut paling relevan dalam mengevaluasi hasil segmen tersebut relatif terhadap entitas lain yang beroperasi dalam industri tersebut.
Information regarding the results of each reportable segment is included below. Performance is measured based on segment profit before income tax, as included in the internal management reports that are reviewed by the Company’s management. Segment profit is used to measure performance of that business segment as management believes that such information is the most relevant in evaluating the results of those segments relative to other entities that operate within these industries.
31 Desember/December 2016
Retail Fleet
Mobil/ Motor/ Mobil/ Motor/ Lain/ Jumlah/ Information by Informasi segmen usaha Car Motorcycle Car Motorcycle Other Total business segments
Pendapatan Revenue Pembiayaan konsumen 1.609.802 71.570 89.664 1.229 - 1.772.265 Consumer financing Sewa pembiayaan 13.894 - 78.413 - - 92.307 Financial lease Bunga 12 1 - - 10.086 10.099 Interest Lain-lain - neto 526.726 16.069 31.621 182 - 574.598 Others - net
Total pendapatan 2.150.434 87.640 199.698 1.411 10.086 2.449.269 Total revenue
Beban Expenses Beban keuangan (768.338 ) (33.820 ) (118.211 ) (894 ) - (921.263 ) Financial charges
Beban gaji dan tunjangan (199.648 ) (14.335 ) (10.404 ) (23 ) (117.678 ) (342.088 ) Salaries and benefits Beban umum dan General and administration administrasi (232.605 ) (10.696 ) (5.323 ) (1 ) (61.215 ) (309.840 ) expenses Penyisihan kerugian Provision for penurunan nilai (366.227 ) (33.988 ) (27.007 ) 29 - (427.193 ) impairment losses
Total beban (1.566.818 ) (92.839 ) (160.945 ) (889 ) (178.893 ) (2.000.384 ) Total expenses
Laba (rugi) sebelum beban Income (loss) before pajak final dan pajak final tax and income penghasilan 583.616 (5.199) 38.753 522 (168.807) 448.885 tax expense
Total aset 8.633.460 254.727 1.713.167 8.255 794.453 11.404.062 Total assets Total liabilitas 7.966.907 233.786 1.531.315 7.374 190.551 9.929.933 Total liabilities
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
94
28. SEGMEN OPERASI (lanjutan) 28. OPERATING SEGMENT (continued)
31 Desember/December 2015
Retail Fleet
Mobil/ Motor/ Mobil/ Motor/ Lain/ Jumlah/ Information by Informasi segmen usaha Car Motorcycle Car Motorcycle Other Total business segments
Pendapatan Revenue Pembiayaan konsumen 1.273.065 87.493 61.497 1.168 - 1.423.223 Consumer financing Sewa pembiayaan 20.130 - 79.511 - - 99.641 Financial lease Bunga 16 1 - - 7.655 7.672 Interest Lain-lain - neto 415.082 19.788 17.484 167 4.475 456.996 Others - net
Total pendapatan 1.708.293 107.282 158.492 1.335 12.130 1.987.532 Total revenue
Beban Expenses Beban keuangan (578.454) (36.379 ) (87.532 ) (756 ) - (703.121 ) Financial charges
Beban gaji dan tunjangan (176.239) (17.410 ) (7.443 ) (8) (103.598 ) (304.698 ) Salaries and benefits Beban umum dan General and administration administrasi (212.255) (11.814 ) (4.732 ) (4) (50.942 ) (279.747) expenses Penyisihan kerugian Provision for penurunan nilai (258.249) (36.486 ) 5.679 (66 ) - (289.122 ) impairment losses
Total beban (1.225.197) (102.089 ) (94.028 ) (834 ) (154.540 ) (1.576.688 ) Total expenses
Laba (rugi) sebelum beban Income (loss) before pajak final dan pajak final tax and income penghasilan 483.096 5.193 64.464 501 (142.410) 410.844 tax expense
Total aset 7.168.166 426.004 965.698 9.158 633.968 9.202.994 Total assets Total liabilitas 6.651.113 396.924 822.927 7.900 151.492 8.030.356 Total liabilities
Informasi wilayah geografis adalah sebagai berikut: Geographical information are as follows: Tahun yang Berakhir pada tanggal 31 Desember/Year ended 31 December
2016 2015
Pendapatan Revenue Regional I (Sumatera) 214.756 196.264 Region I (Sumatera) Regional II (Sumatera) 270.366 269.547 Region II (Sumatera) Regional III (Jabodetabek) 259.325 199.551 Region III (Jabodetabek) Regional IV (Jabodetabek) 455.569 365.199 Region IV (Jabodetabek) Regional V (Jawa Barat) 215.481 181.528 Region V (Jawa Barat) Regional VI Region VI (Jawa Tengah, Yogyakarta) 196.075 131.522 (Jawa Tengah, Yogyakarta) Regional VII (Jawa Timur) 244.758 180.156 Region VII (Jawa Timur) Regional VIII (Kalimantan) 184.555 149.928 Region VIII (Kalimantan) Regional IX (Sulawesi) 197.189 141.880 Region IX (Sulawesi) Fleet 201.109 159.827 Fleet Lainnya 10.086 12.130 Others
Total pendapatan 2.449.269 1.987.532 Total revenue
Beban Expenses Regional I (Sumatera) (194.420) (162.675) Region I (Sumatera) Regional II (Sumatera) (250.667) (235.801) Region II (Sumatera) Regional III (Jabodetabek) (173.579) (140.214) Region III (Jabodetabek) Regional IV (Jabodetabek) (312.920) (245.840) Region IV (Jabodetabek)
Regional V (Jawa Barat) (138.784) (125.486) Region V (Jawa Barat) Regional VI Region VI (Jawa Tengah, Yogyakarta) (143.445) (94.784) (Jawa Tengah, Yogyakarta) Regional VII (Jawa Timur) (153.210) (117.287) Region VII (Jawa Timur) Regional VIII (Kalimantan) (152.359) (107.820) Region VIII (Kalimantan) Regional IX (Sulawesi) (140.273) (97.379) Region IX (Sulawesi)
Fleet (161.834) (94.862) Fleet Lainnya (178.893) (154.540) Others
Total beban (2.000.384) (1.576.688) Total expenses
Laba sebelum beban pajak final Income before final tax and dan pajak penghasilan 448.885 410.844 income tax expense
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
95
28. SEGMEN OPERASI (lanjutan) 28. OPERATING SEGMENT (continued)
Informasi wilayah geografis adalah sebagai berikut: (lanjutan)
Geographical information are as follows: (continued)
31 Desember/ December 31
2016 2015
Aset Assets Regional I (Sumatera) 738.456 744.620 Region I (Sumatera) Regional II (Sumatera) 946.235 1.105.950 Region II (Sumatera)
Regional III (Jabodetabek) 1.164.410 812.924 Region III (Jabodetabek) Regional IV (Jabodetabek) 1.942.579 1.614.570 Region IV (Jabodetabek)
Regional V (Jawa Barat) 798.423 712.195 Region V (Jawa Barat) Regional VI Region VI
(Jawa Tengah, Yogyakarta) 785.905 597.798 (Jawa Tengah, Yogyakarta) Regional VII (Jawa Timur) 1.031.294 736.186 Region VII (Jawa Timur) Regional VIII (Kalimantan) 645.177 614.319 Region VIII (Kalimantan) Regional IX (Sulawesi) 835.708 655.608 Region IX (Sulawesi) Fleet 1.721.422 974.856 Fleet Lainnya 794.453 633.968 Others
Total aset 11.404.062 9.202.994 Total assets
Liabilitas Liabilities Regional I (Sumatera) 682.986 689.309 Region I (Sumatera) Regional II (Sumatera) 856.667 1.019.872 Region II (Sumatera) Regional III (Jabodetabek) 1.077.563 778.408 Region III (Jabodetabek) Regional IV (Jabodetabek) 1.772.840 1.471.530 Region IV (Jabodetabek) Regional V (Jawa Barat) 745.512 657.271 Region V (Jawa Barat) Regional VI Region VI (Jawa Tengah, Yogyakarta) 724.912 544.929 (Jawa Tengah, Yogyakarta) Regional VII (Jawa Timur) 976.408 700.932 Region VII (Jawa Timur) Regional VIII (Kalimantan) 599.040 579.719 Region VIII (Kalimantan) Regional IX (Sulawesi) 764.765 606.067 Region IX (Sulawesi)
Fleet 1.538.689 830.827 Fleet Lainnya 190.551 151.492 Others
Total liabilitas 9.929.933 8.030.356 Total liabilities
29. LIABILITAS KONTINJENSI 29. CONTINGENT LIABILITIES
Pada tanggal 31 Desember 2016 dan 2015 Perseroan tidak mempunyai liabilitas kontinjensi yang signifikan.
The Company does not have any significant contingent liabilities as of 31 December 2016 and 2015.
30. PERNYATAAN STANDAR AKUNTANSI KEUANGAN YANG DIREVISI
30. REVISED STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS
Berikut ini adalah beberapa standar akuntansi dan interpretasi yang telah disahkan oleh Dewan Standar Akuntansi Keuangan (DSAK) yang dipandang relevan terhadap pelaporan keuangan Perseroan namun belum berlaku efektif untuk laporan keuangan tahun 2016:
The following are several accounting standard and interpretations issued by the Indonesian Financial Accounting Standards Board (DSAK) that are considered relevant to the financial reporting of the Company but not yet effective for 2016 financial statements:
• Amandemen PSAK No. 1: Penyajian Laporan
Keuangan tentang Prakarsa Pengungkapan, berlaku efektif 1 Januari 2017. Amandemen ini mengklarifikasi, bukan mengubah secara signifikan, persyaratan PSAK No. 1, antara lain, mengklarifikasi mengenai materialitas, fleksibilitas urutan sistematis penyajian catatan atas laporan keuangan dan pengidentifikasian kebijakan akuntansi signifikan.
• Amendments to SFAS No. 1: Presentation of Financial Statements on Disclosures Initiative, effective January 1, 2017. This amendments clarify, rather than significantly change, existing SFAS No. 1 requirements, among others, to clarify the materiality, flexibility as to the order in which they present the notes to financial statements and identification of significant accounting policies.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
96
30. PERNYATAAN STANDAR AKUNTANSI KEUANGAN YANG DIREVISI (lanjutan)
30. REVISED STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS (continued)
Berikut ini adalah beberapa standar akuntansi dan interpretasi yang telah disahkan oleh Dewan Standar Akuntansi Keuangan (DSAK) yang dipandang relevan terhadap pelaporan keuangan Perseroan namun belum berlaku efektif untuk laporan keuangan tahun 2016: (lanjutan)
The following are several accounting standard and interpretations issued by the Indonesian Financial Accounting Standards Board (DSAK) that are considered relevant to the financial reporting of the Company but not yet effective for 2016 financial statements: (continued)
• Amandemen PSAK No. 2: Laporan Arus Kas
tentang Prakarsa Pengungkapan, berlaku efektif 1 Januari 2018 dengan penerapan dini diperkenankan. Amandemen ini mensyaratkan entitas untuk menyediakan pengungkapan yang memungkinkan pengguna laporan keuangan untuk mengevaluasi perubahan pada liabilitas yang timbul dari aktivitas pendanaan, termasuk perubahan yang timbul dari arus kas maupun perubahan non-kas.
• Amendments to SFAS 2: Statement of Cash Flows on the Disclosures Initiative, effective January 1, 2018 with earlier application is permitted. This amendments requires entities to provide disclosures that enable the financial statements users to evaluate the changes in liabilities arising from financing activities, including changes from cash flow and non-cash.
• Amandemen PSAK No. 46: Pajak Penghasilan
tentang Pengakuan Aset Pajak Tangguhan untuk Rugi yang Belum Direalisasi, berlaku efektif 1 Januari 2018 dengan penerapan dini diperkenankan. Amandemen ini mengklarifikasi bahwa untuk menentukan apakah laba kena pajak akan tersedia sehingga perbedaan temporer yang dapat dikurangkan dapat dimanfaatkan; estimasi atas kemungkinan besar laba kena pajak masa depan dapat mencakup pemulihan beberapa aset entitas melebihi jumlah tercatatnya.
• Amendments to SFAS No. 46: Income Taxes on the Recognition of Deferred Tax Assets for Unrealized Losses, effective January 1, 2018 with earlier application is permitted. This amendments clarifies that to determine whether the taxable income will be available so that the deductible temporary differences can be utilized; estimates of the most likely future taxable income can include recovery of certain assets of the entity exceeds its carrying amount.
• PSAK No. 3 (Penyesuaian 2016): Laporan
Keuangan Interim, berlaku efektif 1 Januari 2017 dengan penerapan dini diperkenankan. Penyesuaian ini mengklarifikasi bahwa pengungkapan interim yang dipersyaratkan harus dicantumkan dalam laporan keuangan interim atau melalui referensi silang dari laporan keuangan interim seperti komentar manajemen atau laporan risiko yang tersedia untuk pengguna laporan keuangan interim dan pada saat yang sama.
• • SFAS No. 3 (2016 Improvement): Interim Financial Reporting, effective January 1, 2017 with earlier application is permitted. This improvement clarifies that the interim disclosures required should be included in the interim financial statements or through cross-references of the interim financial statements, such as management commentary or risk management report, that available to users of the interim financial statements and should at the same time.
• PSAK No. 24 (Penyesuaian 2016): Imbalan
Kerja, berlaku efektif 1 Januari 2017 dengan penerapan dini diperkenankan. Penyesuaian ini mengklarifikasi bahwa pasar obligasi korporasi berkualitas tinggi dinilai berdasarkan denominasi mata uang obligasi tersebut dan bukan berdasarkan negara di mana obligasi tersebut berada.
• • SFAS No. 24 (2016 Improvement): Employee Benefits, effective January 1, 2017 with earlier application is permitted. This improvement clarifies that the market of high quality corporate bonds is valued by denominated bonds and not based on the country in which the bonds are.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
97
30. PERNYATAAN STANDAR AKUNTANSI KEUANGAN YANG DIREVISI (lanjutan)
30. REVISED STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS (continued)
Berikut ini adalah beberapa standar akuntansi dan interpretasi yang telah disahkan oleh Dewan Standar Akuntansi Keuangan (DSAK) yang dipandang relevan terhadap pelaporan keuangan Perseroan namun belum berlaku efektif untuk laporan keuangan tahun 2016: (lanjutan)
The following are several accounting standard and interpretations issued by the Indonesian Financial Accounting Standards Board (DSAK) that are considered relevant to the financial reporting of the Company but not yet effective for 2016 financial statements: (continued)
• PSAK No. 58 (Penyesuaian 2016): Aset Tidak
Lancar yang Dimiliki Untuk Dijual dan Operasi yang Dihentikan, berlaku efektif 1 Januari 2017 dengan penerapan dini diperkenankan. Penyesuaian ini mengklarifikasi bahwa perubahan dari satu metode pelepasan ke metode pelepasan lainnya dianggap sebagai rencana awal yang berkelanjutan dan bukan sebagai rencana pelepasan baru. Penyesuaian ini juga mengklarifikasi bahwa perubahan metode pelepasan ini tidak mengubah tanggal klasifikasi sebagai aset atau kelompok lepasan.
• • SFAS No. 58 (2016 Improvement): Non-Current Assets, Held for Sale and Discontinued Operation, effective January 1, 2017 with earlier application is permitted. This improvement clarifies that a change from one disposal method to the other disposal methods are considered as the beginning of a sustainable plan and not as a new disposal plan. This improvement also clarifies that the change in the disposal method does not change the date of classification as an asset or disposal group.
• PSAK No. 60 (Penyesuaian 2016): Instrumen
Keuangan: Pengungkapan, berlaku efektif 1 Januari 2017 dengan penerapan dini diperkenankan. Penyesuaian ini mengklarifikasi bahwa entitas harus menilai sifat dari imbalan kontrak jasa untuk menentukan apakah entitas memiliki keterlibatan berkelanjutan dalam aset keuangan dan apakah persyaratan pengungkapan terkait keterlibatan berkelanjutan terpenuhi.
• • SFAS No. 60 (2016 Improvement): Financial Instruments, effective January 1, 2017 with earlier application is permitted. This improvement clarifies that an entity must assess the nature of the service contract benefits to determine whether the entity has a continuing involvement in financial assets and whether the disclosure requirements related to the continuing involvement are met.
Perseroan sedang mengevaluasi dampak dari standar akuntansi tersebut dan belum menentukan dampaknya terhadap laporan keuangan Perseoran.
The Company is presently evaluating and has not yet determined the effects of these accounting standards on its financial statements.
31. PENYELESAIAN LAPORAN KEUANGAN 31. COMPLETION OF THE FINANCIAL STATEMENTS
Manajemen Perseroan bertanggung jawab penuh atas penyusunan laporan keuangan yang disetujui untuk diterbitkan pada tanggal 25 Januari 2017.
The management of the Company is responsible for the preparation of these financial statements which were authorized for issue on 25 January 2017.
The original financial statements included herein are in Indonesian language.
PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan
Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam jutaan Rupiah,
kecuali dinyatakan lain)
PT MANDIRI TUNAS FINANCE NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2016 and for the Year Then Ended
(Expressed in millions of Rupiah, unless otherwise stated)
98
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