PT Kalbe Farma Tbk. dan Entitas Anaknya/and its Subsidiaries · pt kalbe farma tbk. dan entitas...

PT Kalbe Farma Tbk. dan Entitas Anaknya/and its Subsidiaries Laporan keuangan konsolidasian tanggal 31 Desember 2019 dan untuk tahun yang berakhir pada tanggal tersebut beserta laporan auditor independen/ Consolidated financial statements as of December 31, 2019 and for the year then ended with independent auditors’ report

The original consolidated financial statements included herein are in

the Indonesian language.

PT KALBE FARMA Tbk. DAN ENTITAS ANAKNYA LAPORAN KEUANGAN KONSOLIDASIAN

TANGGAL 31 DESEMBER 2019 DAN UNTUK TAHUN YANG BERAKHIR PADA

TANGGAL TERSEBUT BESERTA LAPORAN AUDITOR INDEPENDEN

PT KALBE FARMA Tbk. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2019 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 Konsolidasian ........................ 1-3 ............ Consolidated Statement of Financial Position Laporan Laba Rugi dan Penghasilan Consolidated Statement of Profit or Loss Komprehensif Lain Konsolidasian ............................ 4-5 ..................... and Other Comprehensive Income Laporan Perubahan Ekuitas Konsolidasian .................... 6 ........... Consolidated Statement of Changes in Equity Laporan Arus Kas Konsolidasian .................................... 7-8 ..................... Consolidated Statement of Cash Flows Catatan Atas Laporan Keuangan Konsolidasian ............. 9-154 ....... Notes to the Consolidated Financial Statements

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The original consolidated financial statements included herein are in the Indonesian language.

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian integral dari laporan keuangan

konsolidasian.

The accompanying notes to the consolidated financial statement form an integral part of these consolidated financial

statements.

1

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PT KALBE FARMA Tbk. DAN ENTITAS ANAKNYA LAPORAN POSISI KEUANGAN KONSOLIDASIAN

Tanggal 31 Desember 2019 (Disajikan dalam Rupiah, kecuali dinyatakan lain)

PT KALBE FARMA Tbk. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT

OF FINANCIAL POSITION As of December 31, 2019

(Expressed in Rupiah, unless otherwise stated) 31 Desember 2019/ Catatan/ 31 Desember 2018/ December 31, 2019 Notes December 31, 2018

ASET ASSETS ASET LANCAR CURRENT ASSETS Kas dan setara kas 3.040.487.103.572 2e,2s,2v,4,39 3.153.327.557.478 Cash and cash equivalents Piutang usaha 2s,2v,5,39 Trade receivables Pihak ketiga, neto 3.531.177.696.227 3.230.855.504.419 Third parties, net Pihak berelasi 41.677.083.452 2f,8a 24.689.355.369 Related parties Piutang lain-lain 2s,2v,6,39 Other receivables Pihak ketiga 122.554.254.390 116.632.910.355 Third parties Pihak berelasi 2.251.088.014 2f,8b 1.391.500.261 Related parties Aset keuangan lancar lainnya 195.618.535.562 2e,2s,2v,7,39 178.719.216.214 Other current financial assets Persediaan, neto 3.737.976.007.703 2g,9 3.474.587.231.854 Inventories, net Pajak pertambahan nilai dibayar di muka 147.588.077.744 2u 123.737.714.663 Prepaid value added tax Biaya dibayar di muka 85.488.759.946 2h,10 62.218.079.760 Prepaid expenses Aset lancar lainnya 317.672.371.791 11 282.129.316.353 Other current assets

Total Aset Lancar 11.222.490.978.401 10.648.288.386.726 Total Current Assets

ASET TIDAK LANCAR NON-CURRENT ASSETS Aset keuangan tidak lancar lainnya 63.126.950.000 2v,12,39 63.304.700.000 Other non-current financial assets Investasi pada entitas asosiasi 27.936.767.060 2i,13 22.801.731.228 Investment in associates Aset pajak tangguhan, neto 123.162.296.975 2u,21 131.100.220.342 Deferred tax assets, net Tagihan restitusi pajak 52.685.481.719 2u,21 54.345.381.927 Claims for tax refund 2h,2j,2k,2l, Aset tetap, neto 7.666.314.692.908 2q,14,17,40 6.252.801.150.475 Fixed assets, net 2d,2l,2m, Aset takberwujud, neto 662.553.056.528 2n,2o,15,40 433.440.697.623 Intangible assets, net 2f,2h,2j,2l,2p, Aset tidak lancar lainnya 446.456.638.993 2v,8g,16,39,40 540.123.877.048 Other non-current assets

Total Aset Tidak Lancar 9.042.235.884.183 7.497.917.758.643 Total Non-current Assets

TOTAL ASET 20.264.726.862.584 18.146.206.145.369 TOTAL ASSETS


Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian integral dari laporan

keuangan konsolidasian.

The accompanying notes to the consolidated financial statements form an integral part of these consolidated

financial statements. 2


(lanjutan) Tanggal 31 Desember 2019

(Disajikan dalam Rupiah, kecuali dinyatakan lain)


OF FINANCIAL POSITION (continued) As of December 31, 2019


LIABILITAS LIABILITIES LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Utang bank jangka pendek 149.638.247.114 2v,17,39 69.154.653.794 Short-term bank loans Utang usaha 2s,2v,18,39 Trade payables Pihak ketiga 1.118.954.747.521 1.214.689.608.252 Third parties Pihak berelasi 96.905.674.943 2f,8d 75.208.161.202 Related parties Utang lain-lain 2s,2v,19,39,40 Other payables Pihak ketiga 496.089.024.551 409.642.234.398 Third parties Pihak berelasi 21.079.800 8e - Related parties Beban akrual 415.650.164.765 2s,2v,20,39 259.860.294.192 Accrued expenses Liabilitas imbalan kerja Short-term employee jangka pendek 53.813.903.706 2t 41.239.785.972 benefits liability Utang pajak 226.517.164.606 2u,21 188.121.543.643 Taxes payable Bagian jangka pendek dari: Current maturities of: Utang bank 19.424.285.946 2v,17,39 27.102.572.574 Bank loans Utang sewa pembiayaan 94.512.899 2k,2s,2v,14,39 1.148.617.567 Finance lease payables

Total Liabilitas Jangka Pendek 2.577.108.805.851 2.286.167.471.594 Total Current Liabilities

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES Pinjaman jangka panjang, setelah dikurangi dengan Long-term debts, net of bagian jangka pendek: current maturities: Utang bank 647.647.475.827 2v,17,39 259.831.249.648 Bank loans Utang sewa pembiayaan 40.868.940 2k,2s,2v,14,39 170.594.130 Finance lease payables Liabilitas pajak tangguhan, neto 241.580.981 2u,21 129.248.672 Deferred tax liabilities, net Liabilitas imbalan kerja Long-term employee jangka panjang 334.105.654.954 2t,36 291.592.784.971 benefits liability Utang lain-lain jangka panjang Other long-term liability Pihak ketiga - 1d,2v,39 13.720.000.000 Third party

Total Liabilitas Jangka Panjang 982.035.580.702 565.443.877.421 Total Non-current Liabilities

TOTAL LIABILITAS 3.559.144.386.553 2.851.611.349.015 TOTAL LIABILITIES







(lanjutan) Tanggal 31 Desember 2019



OF FINANCIAL POSITION (continued) As of December 31, 2019


EKUITAS EQUITY Ekuitas yang Dapat Diatribusikan kepada Equity Attributable to the Pemilik Entitas Induk Owners of the Parent Company Modal saham - nilai nominal Share capital - Rp10 par value Rp10 per saham per share Modal dasar - Authorized - 85.000.000.000 saham 85,000,000,000 shares Modal ditempatkan dan disetor Issued and fully paid - penuh - 46.875.122.110 saham 468.751.221.100 2y,22 468.751.221.100 46,875,122,110 shares Tambahan modal disetor, neto (34.118.673.814) 2d,2y,23 (34.118.673.814) Additional paid-in capital, net Differences arising from Selisih transaksi dengan transaction with kepentingan non-pengendali 52.932.836.056 2c,24 46.967.626.117 non-controlling interests Saldo laba 2z Retained earnings Telah ditentukan penggunaannya 225.961.420.648 22 201.390.130.325 Appropriated Belum ditentukan penggunaannya 15.135.159.090.134 13.871.718.983.242 Unappropriated Penghasilan komprehensif lain 2aa Other comprehensive income Selisih kurs atas penjabaran Differences arising from foreign laporan keuangan 57.824.661.761 2c 71.460.322.752 currency translation Laba belum direalisasi Unrealized gain on dari aset keuangan tersedia available-for-sale untuk dijual, neto 56.006.158.259 2v,7,12 42.056.395.763 financial assets, net Kerugian aktuarial atas Actuarial loss on liabilitas imbalan kerja long-term employee jangka panjang, neto (69.390.323.150) 2t (44.768.029.424) benefits liability, net

Sub-total 15.893.126.390.994 14.623.457.976.061 Sub-total Kepentingan Non-pengendali 812.456.085.037 2c,25 671.136.820.293 Non-controlling Interests

Total Ekuitas 16.705.582.476.031 15.294.594.796.354 Total Equity

TOTAL LIABILITAS DAN TOTAL LIABILITIES AND EKUITAS 20.264.726.862.584 18.146.206.145.369 EQUITY






PT KALBE FARMA Tbk. DAN ENTITAS ANAKNYA LAPORAN LABA RUGI DAN PENGHASILAN

KOMPREHENSIF LAIN KONSOLIDASIAN Untuk Tahun yang Berakhir pada Tanggal

31 Desember 2019 (Disajikan dalam Rupiah, kecuali dinyatakan lain)

PT KALBE FARMA Tbk. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME For the Year Ended December 31, 2019

(Expressed in Rupiah, unless otherwise stated)

Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31 Catatan/ 2019 Notes 2018

2f,2r,2w,8c PENJUALAN NETO 22.633.476.361.038 26,27 21.074.306.186.027 NET SALES 2f,2r,2w,8f, BEBAN POKOK PENJUALAN (12.390.008.590.196) 26,28 (11.226.380.392.484) COST OF GOODS SOLD

LABA BRUTO 10.243.467.770.842 9.847.925.793.543 GROSS PROFIT

Beban penjualan (5.358.032.618.673) 2w,26,29 (5.199.866.625.949) Selling expenses General and administrative Beban umum dan administrasi (1.288.558.007.592) 2w,26,30 (1.191.705.459.131) expenses Beban penelitian Research and development dan pengembangan (286.654.521.539) 2o,2w,26,31 (243.606.080.000) expenses Pendapatan operasi lainnya 66.253.834.956 2j,2s,2w,26,35 75.482.640.119 Other operating income Beban operasi lainnya (76.512.416.049) 2s,2u,2w,26,34 (75.205.073.037) Other operating expenses Penghasilan bunga 137.938.018.031 2w,26,33 125.786.575.249 Interest income Interest expense and Beban bunga dan keuangan (40.420.271.275) 2w,26,32 (29.738.266.966) financial charges Bagian atas laba (rugi) Share in gain (losses) of the entitas asosiasi 5.135.035.832 2i,2w,13,26 (2.673.834.807) associates

LABA SEBELUM BEBAN INCOME BEFORE PAJAK PENGHASILAN 3.402.616.824.533 3.306.399.669.021 INCOME TAX EXPENSE BEBAN PAJAK PENGHASILAN, Neto (865.015.000.888) 2u,2w,21,26 (809.137.704.264) INCOME TAX EXPENSE, Net

LABA TAHUN BERJALAN 2.537.601.823.645 2.497.261.964.757 INCOME FOR THE YEAR

PENGHASILAN OTHER COMPREHENSIVE KOMPREHENSIF LAIN 2aa INCOME Pos yang tidak akan direklasifikasi Item that will not be reclassified ke laba rugi: to profit or loss: Keuntungan (kerugian) aktuarial atas Actuarial gain (loss) on liabilitas imbalan kerja long-term employee jangka panjang, neto (34.219.335.380) 2t,36 50.950.561.708 benefits liability, net Pos-pos yang akan direklasifikasi Items that will be reclassified ke laba rugi: to profit or loss: Laba belum direalisasi Unrealized gain on dari aset keuangan tersedia available-for-sale untuk dijual, neto 15.174.680.316 2v,7,12 6.021.165.569 financial assets, net Selisih kurs atas penjabaran Differences arising from foreign laporan keuangan (13.635.660.991) 2c 10.588.832.653 currency translation Pajak penghasilan terkait 8.320.895.500 (12.115.579.063) Related income tax

Penghasilan (rugi) komprehensif Other comprehensive lain setelah pajak (24.359.420.555) 55.444.980.867 income (loss) after tax

TOTAL LABA KOMPREHENSIF TOTAL COMPREHENSIVE TAHUN BERJALAN 2.513.242.403.090 2.552.706.945.624 INCOME FOR THE YEAR






PT KALBE FARMA Tbk. DAN ENTITAS ANAKNYA LAPORAN LABA RUGI DAN PENGHASILAN

KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan) Untuk Tahun yang Berakhir pada Tanggal

31 Desember 2019 (Disajikan dalam Rupiah, kecuali dinyatakan lain)

PT KALBE FARMA Tbk. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME (continued)

For the Year Ended December 31, 2019 (Expressed in Rupiah, unless otherwise stated)


Laba Tahun Berjalan Yang Income For The Year Dapat Diatribusikan Kepada: Attributable To: Pemilik entitas induk 2.506.764.572.075 2w,26 2.457.129.032.271 Owners of the parent company Kepentingan non-pengendali 30.837.251.570 2w,26 40.132.932.486 Non-controlling interests

Total 2.537.601.823.645 2.497.261.964.757 Total

Total Laba Komprehensif Tahun Berjalan Yang Total Comprehensive Income Dapat Diatribusikan Kepada: For The Year Attributable To: Pemilik entitas induk 2.482.456.109.888 2.510.650.879.252 Owners of the parent company Kepentingan non-pengendali 30.786.293.202 42.056.066.372 Non-controlling interests

Total 2.513.242.403.090 2.552.706.945.624 Total

Laba per Saham Dasar Basic Earnings per Yang Dapat Diatribusikan Share Attributable to Owners kepada Pemilik Entitas Induk 53,48 2x,22,42 52,42 of the Parent Company


Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian integral

dari laporan keuangan konsolidasian. The accompanying notes to the consolidated financial statements form an integral part of

these consolidated financial statements.

6

PT KALBE FARMA Tbk. DAN ENTITAS ANAKNYA LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN

Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2019


PT KALBE FARMA Tbk. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF

CHANGES IN EQUITY For the Year Ended December 31, 2019

(Expressed in Rupiah, unless otherwise stated) Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to the Owners of the Parent Company

Penghasilan Komprehensif Lain/ Other Comprehensive Income Selisih Kurs Selisih atas Kerugian Transaksi Penjabaran Laba Belum Aktuarial atas dengan Kepentingan Laporan Direalisasi dari Liabilitas Imbalan Modal Non-pengendali/ Saldo Laba/ Keuangan/ Aset Keuangan Kerja Jangka Ditempatkan dan Differences Retained Earnings Differences Tersedia untuk Panjang, Neto/ Disetor Penuh/ Tambahan Arising from Arising from Dijual, Neto/ Actuarial Loss on Kepentingan Issued and Modal Disetor, Neto/ Transaction with Telah Ditentukan Belum Ditentukan Foreign Unrealized Gains on for Long-term Non-pengendali/ Catatan/ Fully Paid Additional Non-controlling Penggunaannya/ Penggunaannya/ Currency Available-for-Sale Employee Benefits Sub-total/ Non-controlling Total Ekuitas/ Notes Capital Paid-in Capital, Net Interests Appropriated Unappropriated Translation Financial Assets, Net Liability, Net Sub-total Interests Total Equity

Saldo pada tanggal 31 Desember 2017 468.751.221.100 (34.118.673.814) 42.779.769.837 177.354.070.991 12.610.504.063.055 60.871.490.099 36.878.429.914 (82.212.896.444 ) 13.280.807.474.738 613.224.307.951 13.894.031.782.689 Balance as of December 31, 2017 Saldo laba yang telah ditentukan penggunaannya untuk cadangan umum 2z,22 - - - 24.036.059.334 (24.036.059.334) - - - - - - Appropriation of retained earnings for general reserves Selisih kurs atas penjabaran laporan keuangan 2c - - - - - - - - - 66.515.350 66.515.350 Differences arising from foreign currency translation Pencairan aset keuangan tersedia untuk dijual 2v,7 - - - - - - (310.181.459) - (310.181.459) - (310.181.459) Withdrawal of available-for-sale financial assets Setoran modal dari kepentingan non-pengendali entitas anak 2c,24 - - 4.187.856.280 - - - - - 4.187.856.280 34.529.143.720 38.717.000.000 Additional capital from subsidiaries’ non-controlling interests Pembagian dividen kas 22 - - - - (1.171.878.052.750) - - - (1.171.878.052.750) (18.739.213.100) (1.190.617.265.850) Distribution of cash dividends Total laba komprehensif tahun 2018 - - - - 2.457.129.032.271 10.588.832.653 5.488.147.308 37.444.867.020 2.510.650.879.252 42.056.066.372 2.552.706.945.624 Total comprehensive income for 2018 Saldo pada tanggal 31 Desember 2018 468.751.221.100 (34.118.673.814) 46.967.626.117 201.390.130.325 13.871.718.983.242 71.460.322.752 42.056.395.763 (44.768.029.424) 14.623.457.976.061 671.136.820.293 15.294.594.796.354 Balance as of December 31, 2018 Saldo laba yang telah ditentukan penggunaannya untuk cadangan umum 2z,22 - - - 24.571.290.323 (24.571.290.323 ) - - - - - - Appropriation of retained earnings for general reserves Selisih kurs atas penjabaran laporan keuangan 2c - - - - - - - - - (247.812.600) (247.812.600 ) Differences arising from foreign currency translation Setoran modal dari kepentingan non-pengendali entitas anak 2c - - - - - - - - - 183.708.000.000 183.708.000.000 Additional capital from subsidiaries’ non-controlling interests Pembagian dividen kas 22 - - - - (1.218.753.174.860 ) - - - (1.218.753.174.860) (34.111.005.919) (1.252.864.180.779 ) Distribution of cash dividends Pencairan aset keuangan tersedia untuk dijual 2v,7 - - - - - - 269.966 - 269.966 - 269.966 Withdrawal of available-for-sale financial assets Akuisisi kepentingan non-pengendali 2c,24 - - 6.171.237.158 - - - - - 6.171.237.158 (41.019.237.158 ) (34.848.000.000) Acquisition of non-controlling interests Pelepasan sebagian kepemilikan pada entitas anak yang tidak 2c,24 mengakibatkan hilangnya pengendalian - - (206.027.219 ) - - - - - (206.027.219) 2.203.027.219 1.997.000.000 Partial disposal of interest in a subsidiary without loss of control Total laba komprehensif tahun 2019 - - - - 2.506.764.572.075 (13.635.660.991 ) 13.949.492.530 (24.622.293.726 ) 2.482.456.109.888 30.786.293.202 2.513.242.403.090 Total comprehensive income for 2019 Saldo pada tanggal 31 Desember 2019 468.751.221.100 (34.118.673.814 ) 52.932.836.056 225.961.420.648 15.135.159.090.134 57.824.661.761 56.006.158.259 (69.390.323.150 ) 15.893.126.390.994 812.456.085.037 16.705.582.476.031 Balance as of December 31, 2019



konsolidasian.

The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial

statements.

7

PT KALBE FARMA Tbk. DAN ENTITAS ANAKNYA LAPORAN ARUS KAS KONSOLIDASIAN



PT KALBE FARMA Tbk. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2019 (Expressed in Rupiah, unless otherwise stated)


ARUS KAS DARI AKTIVITAS CASH FLOWS FROM OPERASI OPERATING ACTIVITIES Penerimaan kas dari pelanggan 24.423.134.030.136 22.705.216.595.643 Cash receipts from customers Pembayaran kas ke pemasok (12.316.355.976.725) (10.798.828.010.079) Cash payments to suppliers Pembayaran kas ke karyawan (2.730.058.462.683) (2.606.118.248.356) Cash payments to employees

Kas yang dihasilkan dari operasi 9.376.719.590.728 9.300.270.337.208 Cash generated from operations Penerimaan tagihan restitusi pajak 20.914.275.240 2.959.085.712 Receipts of claims for tax refund Pembayaran pajak penghasilan (839.509.478.376) (838.106.813.718) Payments for income taxes Pembayaran untuk beban operasi Payments for other operating lainnya, neto (6.055.155.565.201) (5.694.346.659.743) expenses, net

Kas Neto Diperoleh dari Net Cash from Aktivitas Operasi 2.502.968.822.391 2.770.775.949.459 Operating Activities

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTASI INVESTING ACTIVITIES Penerimaan penghasilan bunga 111.461.387.107 101.595.724.201 Interest income received Penerimaan hasil penjualan Proceeds from sale of aset tetap 13.144.103.354 14 16.351.036.664 fixed assets Penjualan saham Entitas Anak Sale of Subsidiary ke pihak ketiga 1.997.000.000 - shares to third party Penerimaan dividen kas 262.500.000 210.000.000 Cash dividends received Pencairan aset keuangan Withdrawal of other lancar lainnya 338.090 14.422.876.686 current financial assets Perolehan aset tetap (1.733.322.991.769) 26 (1.307.327.219.368) Acquisitions of fixed assets Perolehan aset takberwujud (249.603.540.473) (65.704.190.334) Acquisitions of intangible assets Perolehan saham Entitas Anak Acquisition of Subsidiary dari pihak ketiga (34.848.000.000) - shares from third party Pemberian pinjaman

pada entitas asosiasi (7.500.000.000) 16 (6.500.000.000) Loan to an associate Penempatan aset keuangan Placements in other non-current tidak lancar lainnya (2.132.250.000) (9.603.700.000) financial assets Pembayaran sewa tanah - (33.273.044.466) Payment for land lease

Kas Neto Digunakan untuk Net Cash Used in Aktivitas Investasi (1.900.541.453.691) (1.289.828.516.617) Investing Activities

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM PENDANAAN FINANCING ACTIVITIES Penerimaan utang bank Proceeds from long-term jangka panjang 507.000.000.000 37 143.000.000.000 bank loans Penerimaan setoran modal Receipts of capital contributions saham dari kepentingan non- from subsidiaries’ pengendali entitas anak 169.988.000.000 38.717.000.000 non-controlling interests Penerimaan utang bank Proceeds from jangka pendek 95.525.769.025 37 410.975.744.593 short-term bank loans Pembayaran dividen kas: Payments of cash dividends: Perusahaan (1.218.753.174.860) 22 (1.171.878.052.750) Company Entitas anak (34.111.005.919 ) (18.739.213.100) Subsidiaries Pembayaran utang bank Payments of long-term jangka panjang (126.862.060.449) 37 (3.071.335.674) bank loans Pembayaran utang bank Payments of short-term jangka pendek (58.525.769.025) 37 (510.975.744.593) bank loans Pembayaran beban bunga (40.013.950.867) 37 (29.593.428.389) Payments of interest expense Pembayaran utang Payments of finance sewa pembiayaan (1.163.092.686) 37 (2.012.695.622) lease payables Penerimaan pinjaman dari Loan proceeds from pihak ketiga - 3.920.000.000 a third party



konsolidasian.

The accompanying notes to the consolidated financial statement form an integral part of these consolidated financial

statements.

8

PT KALBE FARMA Tbk. DAN ENTITAS ANAKNYA LAPORAN ARUS KAS KONSOLIDASIAN (lanjutan)



PT KALBE FARMA Tbk. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS

(continued) For the Year Ended December 31, 2019

(Expressed in Rupiah, unless otherwise stated) Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31 Catatan/ 2019 Notes 2018

Kas Neto Digunakan untuk Net Cash Used in Aktivitas Pendanaan (706.915.284.781) (1.139.657.725.535) Financing Activities

KENAIKAN (PENURUNAN) NET INCREASE (DECREASE) IN NETO KAS DAN SETARA KAS (104.487.916.081) 341.289.707.307 CASH AND CASH EQUIVALENTS Pengaruh Neto Perubahan Net Effect on Changes in Foreign Kurs pada Kas dan Setara Kas Exchange Rates of Foreign yang Didenominasi dalam Currency Denominated Mata Uang Asing (51.836.131.145) 26.951.993.492 Cash and Cash Equivalents KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AWAL TAHUN 3.149.172.903.684 2.780.931.202.885 AT BEGINNING OF YEAR

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AKHIR TAHUN * 2.992.848.856.458 3.149.172.903.684 AT END OF YEAR *

*Komposisi kas dan setara kas Cash and cash equivalents* terdiri dari: consist of: Kas dan setara kas 3.040.487.103.572 4 3.153.327.557.478 Cash and cash equivalents Cerukan (47.638.247.114 ) 17 (4.154.653.794) Overdrafts

Neto 2.992.848.856.458 3.149.172.903.684 Net

Tambahan informasi arus kas Supplemental cash flows information diungkapkan dalam Catatan 44 is presented in Note 44


PT KALBE FARMA Tbk. DAN ENTITAS ANAKNYA

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2019 dan

Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam Rupiah, kecuali dinyatakan lain)

PT KALBE FARMA Tbk. AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTS As of December 31, 2019 and

For the Year then Ended (Expressed in Rupiah, unless otherwise stated)

9

1. UMUM 1. GENERAL

a. Pendirian Perusahaan a. Establishment of the Company

PT Kalbe Farma Tbk. (“Perusahaan”) didirikan di Negara Republik Indonesia, dalam rangka Undang-undang Penanaman Modal Dalam Negeri No. 6 Tahun 1968 yang telah diubah dengan Undang-undang No. 12 Tahun 1970, berdasarkan Akta Notaris Raden Imam Soesetyo Prawirokoesoemo No. 3 pada tanggal 10 September 1966. Akta pendirian ini telah disahkan oleh Menteri Kehakiman Republik Indonesia dengan Surat Keputusan No. J.A.5/72/23 tanggal 12 September 1967 dan diumumkan dalam Tambahan No. 234, Berita Negara Republik Indonesia No. 102 pada tanggal 22 Desember 1967. Anggaran dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir dengan Akta Notaris Rusnaldy, S.H., No. 41 tanggal 22 Mei 2019, mengenai perubahan maksud dan tujuan serta kegiatan usaha Perusahaan untuk disesuaikan dengan Klasifikasi Baku Lapangan Usaha Indonesia Tahun 2017. Perubahan ini telah diterima oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-0032248.AH.01.02 tanggal 21 Juni 2019.

PT Kalbe Farma Tbk. (the “Company”) was established in the Republic of Indonesia, within the framework of the Domestic Capital Investment Law No. 6 Year 1968, as amended by Law No. 12 Year 1970, based on Notarial Deed No. 3 of Raden Imam Soesetyo Prawirokoesoemo dated September 10, 1966. The Deed of establishment was approved by the Ministry of Justice of the Republic of Indonesia in its Decision Letter No. J.A.5/72/23 dated September 12, 1967 and was published in Supplement No. 234 of State Gazette No. 102 dated December 22, 1967. The Company’s Articles of Association have been amended several times, the latest amendment of which was drawn up in Notarial Deed No. 41 of Rusnaldy, S.H., dated May 22, 2019, regarding the changes in the Company’s purpose, objectives and scope of activities to comply with the Indonesian Standard Industrial Classification Year 2017. The amendment had been accepted by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0032248.AH.01.02 dated June 21, 2019.

Seperti yang dinyatakan dalam Anggaran

Dasarnya, ruang lingkup kegiatan Perusahaan meliputi, antara lain usaha dalam bidang farmasi, perdagangan dan perwakilan. Saat ini, Perusahaan terutama bergerak dalam bidang pengembangan, pembuatan dan perdagangan sediaan farmasi termasuk obat untuk manusia dan hewan serta produk konsumsi kesehatan. Perusahaan memulai operasi komersial pada tahun 1966.

As stated in its Articles of Association, the scope of activities of the Company comprises, among others, pharmaceutical, trading and representative. Currently, the Company is primarily engaged in the development, manufacturing and trading of pharmaceutical products including human and veterinary medicines and consumer health products. The Company started its commercial operations in 1966.

Perusahaan berkedudukan di Jakarta, dimana

kantor pusat berada di Gedung KALBE, Jl. Let. Jend. Suprapto Kav. 4, Cempaka Putih, Jakarta 10510 sedangkan fasilitas pabriknya berlokasi di Kawasan Industri Delta Silicon, Jl. M.H. Thamrin, Blok A3-1, Lippo Cikarang, Bekasi, Jawa Barat.

The Company is domiciled in Jakarta, with its head office located at KALBE Building Jl. Let. Jend. Suprapto Kav. 4, Cempaka Putih, Jakarta 10510, while its production plant is located at Kawasan Industri Delta Silicon, Jl. M.H. Thamrin, Block A3-1, Lippo Cikarang, Bekasi, West Java.








10

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Penawaran Umum Saham Perusahaan dan Kegiatan Perusahaan Lainnya

b. Public Offering of the Company’s Shares and Other Corporate Actions

Ringkasan kegiatan Perusahaan (corporate

actions) yang mempengaruhi efek yang diterbitkan Perusahaan sejak tanggal penawaran umum perdana sampai dengan tanggal 31 Desember 2019 adalah sebagai berikut:

A summary of the Company’s corporate actions that affected the issued shares of the Company from the date of the initial public offering of its shares up to December 31, 2019 is as follows:

Jumlah Saham/ Number of Tanggal/ Kegiatan Perusahaan Shares Date Nature of Corporate Actions

Penawaran umum perdana dan pencatatan sebagian saham 30 Juli 1991/ Initial public offering and partial listing of Perusahaan 20.000.000 July 30, 1991 the Company’s shares Pencatatan saham Perusahaan 30.000.000 Listing of the Company’s shares in Bursa Efek Jakarta 23 April 1992/ Jakarta Stock Exchange (sekarang Bursa Efek Indonesia) April 23, 1992 (currently Indonesia Stock Exchange) Bursa Efek Surabaya 22 Mei 1992/ Surabaya Stock Exchange (sekarang Bursa Efek Indonesia) May 22, 1992 (currently Indonesia Stock Exchange) Pembagian saham bonus 50.000.000 Distribution of bonus shares Bursa Efek Surabaya 10 November 1992/ Surabaya Stock Exchange (sekarang Bursa Efek Indonesia) November 10, 1992 (currently Indonesia Stock Exchange) Bursa Efek Jakarta 17 November 1992/ Jakarta Stock Exchange (sekarang Bursa Efek Indonesia) November 17, 1992 (currently Indonesia Stock Exchange) Penawaran umum terbatas 8.000.000 4 Mei 1993/ Rights issue May 4, 1993 Pembagian saham bonus 75.600.000 Distribution of bonus shares Bursa Efek Surabaya 15 Juli 1994/ Surabaya Stock Exchange (sekarang Bursa Efek Indonesia) July 15, 1994 (currently Indonesia Stock Exchange) Bursa Efek Jakarta 18 Juli 1994/ Jakarta Stock Exchange (sekarang Bursa Efek Indonesia) July 18, 1994 (currently Indonesia Stock Exchange) Pembagian dividen saham 32.400.000 Distribution of share dividends Bursa Efek Surabaya 15 Juli 1994/ Surabaya Stock Exchange (sekarang Bursa Efek Indonesia) July 15, 1994 (currently Indonesia Stock Exchange) Bursa Efek Jakarta 18 Juli 1994/ Jakarta Stock Exchange (sekarang Bursa Efek Indonesia) July 18, 1994 (currently Indonesia Stock Exchange) Perubahan nilai nominal saham dari Change in the nominal value of shares Rp1.000 menjadi Rp500 per 7 Oktober 1996/ from Rp1,000 to Rp500 per share saham (stock split) 216.000.000 October 7, 1996 (stock split)

Perubahan nilai nominal saham dari Change in the nominal value of shares Rp500 menjadi Rp100 per saham 24 Agustus 1999/ from Rp500 to Rp100 per share (stock split) 1.728.000.000 August 24, 1999 (stock split) 6 Desember 2000/ Pembagian saham bonus 1.900.800.000 December 6, 2000 Distribution of bonus shares

Perubahan nilai nominal saham dari Change in the nominal value of shares Rp100 menjadi Rp50 per saham 19 Desember 2003/ from Rp100 to Rp50 per share (stock split) 4.060.800.000 December 19, 2003 (stock split)








11

1. UMUM (lanjutan) 1. GENERAL (continued) b. Penawaran umum saham Perusahaan dan

kegiatan Perusahaan lainnya (lanjutan) b. Public offering of the Company’s shares

and other corporate actions (continued) Jumlah Saham/ Number of Tanggal/ Kegiatan Perusahaan Shares Date Nature of Corporate Actions

Tambahan penempatan saham sehubungan dengan 16 Desember 2005/ Additional issuance of shares in penggabungan usaha 2.034.414.422 December 16, 2005 connection with merger transaction Perubahan nilai nominal saham dari Change in the nominal value of shares Rp50 menjadi Rp10 per saham 5 Oktober 2012/ from Rp50 to Rp10 per share (pemecahan saham) 40.624.057.688 October 5, 2012 (stock split)

Penarikan kembali modal ditempatkan Withdrawal of issued and fully paid shares dan disetor penuh sebesar saham 31 Oktober 2013/ capital which have been reacquired yang dibeli kembali (modal treasuri) (3.904.950.000) October 31, 2013 as treasury stock

Total 46.875.122.110 Total

c. Dewan Komisaris dan Dewan Direksi, Komite Audit, Sekretaris Perusahaan dan Karyawan

c. Boards of Commissioners and Directors, Audit Committee, Corporate Secretary and Employees

Susunan Dewan Komisaris dan Dewan Direksi

Perusahaan adalah sebagai berikut: The members of the Company’s Boards of

Commissioners and Directors are as follows:

31 Desember, 2019/ December 31, 2019

31 Desember 2018/ December 31, 2018

Dewan Komisaris Board of Commissioners Presiden Komisaris : Bernadette Ruth Irawati

Setiady Bernadette Ruth Irawati

Setiady : President Commissioner

Komisaris : Santoso Oen Santoso Oen : Commisioner Komisaris : Ferdinand Aryanto Ferdinand Aryanto : Commisioner Komisaris : Ronny Hadiana Ronny Hadiana : Commisioner Komisaris Independen : Farid Anfasa Moeloek Farid Anfasa Moeloek : Independent Commisioner Komisaris Independen : Lucky Surjadi Slamet Lucky Surjadi Slamet : Independent Commisioner Komisaris Independen : Lilis Halim - : Independent Commisioner Dewan Direksi Board of Directors Presiden Direktur : Vidjongtius Vidjongtius : President Director Direktur : Bernadus Karmin

Winata - : Director

Direktur : Ongkie Tedjasurja Ongkie Tedjasurja : Director Direktur : Bujung Nugroho Bujung Nugroho : Director Direktur : Djonny Hartono

Tjahyadi Djonny Hartono

Tjahyadi : Director

Direktur : Sie Djohan Sie Djohan : Director Direktur Independen : - Bernadus Karmin

Winata*) : Independent Director

*) Pada tanggal 31 Desember 2018, Bapak Bernadus Karmin Winata menjabat sebagai Direktur Independen.

*) As of December 31, 2018, Mr. Bernadus Karmin Winata served as an Independent Director.








12


c. Dewan Komisaris dan Dewan Direksi, Komite Audit, Sekretaris Perusahaan dan Karyawan (lanjutan)

c. Boards of Commissioners and Directors, Audit Committee, Corporate Secretary and Employees (continued)

Susunan Komite Audit dan Sekretaris

Perusahaan adalah sebagai berikut: The composition of the Company’s Audit

Committee and Corporate Secretary is as follows:

31 Desember 2019 dan 2018/

Komite Audit December 31, 2019 and 2018 Audit Committee

Ketua Lucky Surjadi Slamet Chairman Anggota Kai Arief Iman Selomulya Member Anggota Kurniawan Tedjo Member

31 Desember 2019 dan 2018/ December 31, 2019 and 2018

Sekretaris Perusahaan Corporate Secretary Sekretaris Perusahaan Bernadus Karmin Winata

Corporate Secretary

Perusahaan memiliki unit audit internal yang

bertanggung jawab langsung kepada Presiden Direktur untuk melakukan fungsi audit terhadap kegiatan operasional dan pelaporan keuangan yang dilakukan Perusahaan.

The Company has an internal audit unit which is directly responsible to the President Director, in performing its audit functions on the operations and financial reporting performed by the Company.

Pada tanggal 31 Desember 2019 dan 2018,

Perusahaan dan entitas anaknya (secara kolektif disebut sebagai “Grup”) mempunyai karyawan tetap masing-masing sebanyak 12.427 dan 12.575 karyawan (tidak diaudit).

As of December 31, 2019 and 2018, the Company and its subsidiaries (collectively referred to as “the Group”) have a combined total of 12,427 and 12,575 permanent employees, respectively (unaudited).

d. Struktur Perusahaan dan Entitas Anak d. Corporate Structure and Subsidiaries Entitas anak yang secara langsung dan tidak

langsung dimiliki Perusahaan dengan pemilikan saham lebih dari 50% adalah sebagai berikut:

The subsidiaries, in which the Company has control and directly or indirectly owns at least 50% of the voting shares, are as follows:

Total Aset Sebelum Eliminasi Persentase Pemilikan (Dalam Jutaan)/

Kegiatan Mulai Efektif/ Total Assets Usaha/ Beroperasi Effective Percentage Before Elimination Produk/ Komersial/ of Ownership (In Millions) Nama Nature of Commencement Entitas Anak/ Business Tempat of 31 Desember 2019/ 31 Desember 2018/ Names of Activities/ Kedudukan/ Commercial December 31, 2019 December 31, 2018 31 Desember 2019/ 31 Desember 2018/ Subsidiaries Products Domicile Operations % % December 31, 2019 December 31, 2018

Farmasi:/ Pharmaceutical: PT Bintang Toedjoe Farmasi dan Jakarta 1949 100,00 100,00 1.350.176 1.051.873 - Bintang Obat Tradisional/ Toedjoe (1) Pharmaceutical and

Traditional Medicine

PT Hexpharm Jaya Farmasi/ Jakarta 1995 100,00 100,00 674.328 610.793 Laboratories Pharmaceutical - Hexpharm (1)

PT Saka Farma Farmasi/ Jakarta 1997 100,00 100,00 593.280 395.339 Laboratories Pharmaceutical - Saka (1)








13


d. Struktur Perusahaan dan Entitas Anak (lanjutan)

d. Corporate Structure and Subsidiaries (continued)



Farmasi:/ (lanjutan) Pharmaceutical: (continued) PT Finusolprima Farma Farmasi/ Jakarta 1981 100,00 100,00 462.051 448.857 Internasional Pharmaceutical - Finusolprima (1) PT Bifarma Adiluhung Jasa Jakarta 1997 100,00 100,00 23.188 17.810 - Bifarma (1) Pemeriksaan Kesehatan/ Health Screening Service Innogene Kalbiotech Agen dan Singapura/ 2004 93,34 93,34 96.893 79.503 Pte. Ltd. Perwakilan Singapore - Innogene (1) Produk Bioteknologi/ Agent and Representative for Biotechnology Products PT Dankos Farma Farmasi/ Jakarta 2006 100,00 100,00 578.699 513.433 - Danfar (1) (e) Pharmaceutical PT Pharma Metric Labs. Jasa Jakarta 2006 81,64 81,64 21.134 15.140 - PML (1) Sertifikasi Mutu Produk dan Hasil Uji Coba untuk Produk Farmasi dan Kesehatan/ Quality Control Certification Service and Clinical Trial for Pharmaceutical and Consumer Health Products PT KalGen DNA Penjualan Jakarta 2013 60,00 60,00 10.301 9.290 - KalGen (4) Alat Laboratorium, Jasa Screening, Tes Diagnostik Penunjang dan Produksi Reagen/ Trading of Laboratory Equipment, Screening Service, Supporting Diagnostic Test and Reagen Production PT Kalbio Global Farmasi/ Jakarta 2019 100,00 100,00 866.308 717.436 Medika Pharmaceutical - KGM (1)








14






Farmasi:/ (lanjutan) Pharmaceutical: (continued) PT Kalbe Genexine Farmasi/ Jakarta -**) 60,00 60,00 563.584 124.551 Biologics Pharmaceutical - KGB (1) (b) PT Innolab Sains Pelayanan Jakarta 2016 60,00 60,00 46.697 52.673 Internasional Kesehatan/ - ISI (6) Health Service

PT Global Onkolab Farma Farmasi/ Jakarta 2019 100,00 100,00 101.485 96.260 - GOF (8) (d) Pharmaceutical Kalbe Myanmar Farmasi/ Myanmar -***) 100,00 100,00 206.909 127.007 Company Ltd. Pharmaceutical - KMC (3) (f) PT Forsta Kalmedic Industri Jakarta -*) 92,47 - 13.095 - Global Peralatan Kedokteran

- FKG (10) (i) dan Kedokteran Gigi serta Jasa Kalibrasi/ Medical and Dental Equipment Industry and Calibration Service Kalbe Lanka Pte. Ltd. Farmasi/ Srilanka -****) 100,00 - - - - KLK (3) (k) Pharmaceutical

Makanan dan Minuman Kesehatan:/ Health Foods and Beverages: PT Sanghiang Perkasa Makanan Jakarta 1982 100,00 100,00 3.633.336 3.289.603 - Sanghiang (1) dan Minuman Kesehatan/ Health Food and Beverages

PT Kalbe Morinaga Pengolahan Jakarta 2007 70,00 70,00 355.696 356.352 Indonesia Produk Susu/ - KMI (1) Milk Products Processing PT Hale Minuman Bogor 2012 100,00 100,00 122.195 121.661 International Kesehatan/ - Hale (1) Health Beverages PT Kalbe Milko Pengolahan Bogor 2016 51,00 51,00 175.199 190.369 Indonesia Produk Susu/ - KAMI (1) (j) Milk Products Processing

PT Global Vita Nutritech Industri Jakarta 2018 100,00 100,00 36.286 44.284 - GVN (5) Premix/

Premix Industry








15






Distribusi dan Logistik:/ Distribution and Logistic: PT Enseval Putera Distribusi Jakarta 1993 92,47 91,80 8.704.959 8.322.961 Megatrading Tbk. Obat-Obatan,

- EPMT (1) Barang Konsumsi, Peralatan Kesehatan, Kosmetik dan Barang Dagang Lainnya/ Distribution of Pharmaceutical Products, Consumer Products, Medical Equipment, Cosmetics and Other Trading Products PT Tri Sapta Jaya Distribusi Produk Jakarta 1980 92,47 91,80 615.883 518.793 - TSJ (2) Obat-obatan

dan Peralatan Kesehatan/

Distribution of Pharmaceutical Products and Medical Equipment PT Millenia Dharma Klinik Jakarta 2003 92,47 91,80 8.316 5.970 Insani Pelayanan

- MDI (2) Kesehatan/ Health Care Clinics

PT Enseval Medika Perdagangan Jakarta 2008 92,47 91,80 736.304 739.375 Prima Peralatan dan

- EMP (2) Perlengkapan Kesehatan dan Laboratorium/ Trading of Medical and Laboratory Equipment and Supplies PT Global Chemindo Penjualan Jakarta 2008 92,47 91,80 772.891 742.928 Megatrading Bahan Baku

- GCM (2) Obat-obatan/ Trading of Raw Materials for Pharmaceutical Products








16






Distribusi dan Logistik:/ (lanjutan) Distribution and Logistic: (continued) PT Global Karsa Perdagangan Besar Jakarta -**) 92,47 91,80 3.110 2.990 Medika Farmasi,

- GKM (9) (g) Alat Kesehatan, Makanan dan Minuman Lainnya/ Wholesale Trading of Pharmaceuticals, Medical Equipment, Other Food and Beverages PT Renalmed Tiara Perdagangan Jakarta 2008 91,31 90,65 147.444 139.701 Utama Besar Mesin,

- RTU (2) Peralatan dan Barang Habis Pakai untuk Terapi Cuci Darah/ Wholesale Trading of Machinery, Equipment and Consumable Products for Hemodialysis Therapy Kalbe Vision Pte. Ltd. Pengembangan, Singapura/ 2008 100,00 100,00 19.929 22.802

- KV (1) Produksi, Singapore Pemasaran dan Distribusi Produk Kesehatan Mata/ Development, Production, Marketing and Distribution of Opthalmic Products

Kalbe International Pemasaran Singapura/ 2007 100,00 100,00 741.204 675.697 Pte. Ltd. Produk Singapore

- KI (1) (h) Farmasi, Kesehatan

dan Nutrisi/ Wholesale of Pharmaceutical, Consumer Health and Nutrition Products Asiawide Kalbe Pemasaran Filipina/ 2010 50,00 50,00 13.173 14.907 Philippines, Inc. dan Distribusi Philippines

- AKPI (3) Minuman Energi ‘Ready-to-Drink’/ Marketing and Distribution of Energy Beverages in a Ready-to-Drink Format








17






Distribusi dan Logistik:/ (lanjutan) Distribution and Logistic: (continued) PT Karsa Lintas Jasa E-Commerce, Jakarta 2013 100,00 100,00 228.156 200.642 Buwana Media Online

- KLB (5) (a) dan Layanan Antar/ E-Commerce, Online Media and Home Delivery Services Kalbe Malaysia Pemasaran Malaysia 2014 100,00 100,00 44.773 46.956 Sdn., Bhd. Produk

- Kalbe Malaysia Farmasi (3) dan Kesehatan/ Wholesale of Pharmaceutical and Medical Products PT Medika Renal Klinik Cuci Darah, Jakarta 2016 92,47 91,80 34.303 36.911 Citraprima Perdagangan Barang

- MRC (2) Habis Pakai untuk Terapi Cuci Darah/

Hemodialysis Clinic, Trading of Consumable Products for Hemodialysis Therapy PT Medika Komunika Jasa E-Commerce, Jakarta 2016 50,00 50,00 22.768 26.226 Teknologi Web Portal dan

- MKT (7) (c) Media Online/ E-Commerce,

Web Portal and Online Media Services PT Cakra Radha Jasa E-Commerce, Jakarta 2017 100,00 100,00 127.605 108.227 Mustika Web Portal dan

- CRM (7) Pemasaran Digital/ E-Commerce,

Web Portal and Digital Marketing Services PT Karya Hasta Jasa E-Commerce, Jakarta 2017 100,00 100,00 26.916 15.261 Dinamika Web Portal dan

- KHD (7) Layanan Antar/ E-Commerce,

Web Portal and Home Delivery Services Kalbe Global Pte. Ltd. Perusahaan Induk/ Singapura/ 2016 100,00 100,00 35.799 37.319

- KG (1) Holding Company Singapore








18






Distribusi dan Logistik:/ (lanjutan) Distribution and Logistic: (continued) PT Emos Global Digital Perdagangan Besar, Jakarta -****) 97,36 - - -

- EGD (1) (l) Pengangkutan, Pergudangan, Informasi dan Komunikasi/ Wholesale Trading, Transportation, Warehousing, Information and Communication

*) Sampai dengan tanggal 31 Desember 2019, FKG masih dalam tahap proses pengurusan ijin operasional.

*) Up to December 31, 2019, FKG is still in the process of obtaining its operating license.

**) Sampai dengan tanggal 31 Desember 2019, KGB dan GKM

belum memulai kegiatan usaha komersial. **) Up to December 31, 2019, KGB and GKM have not

commenced their commercial operations. ***) Sampai tanggal dengan tanggal 31 Desember 2019, KMC

masih dalam proses pembangunan gedung pabrik. ***) Up to December 31, 2019, KMC is still in the process of

constructing factory building. ****) Pada tanggal 31 Desember 2019, belum ada setoran modal

di KLK dan EGD. ****) As of December 31, 2019, no share capital have been

injected in KLK and EGD.

Entitas anak yang dimiliki secara langsung oleh: The subsidiaries are directly owned by: (1) Perusahaan (1) Company

(2) EPMT (2) EPMT (3) KI (3) KI (4) Bifarma (4) Bifarma (5) Sanghiang (5) Sanghiang (6) KGM (6) KGM (7) KLB (7) KLB (8) Danfar (8) Danfar (9) GCM (9) GCM (10) EMP (10) EMP








19




(a) Berdasarkan Akta Notaris Ny. Elly Puspita

Sunarya, S.H., No. 68 tanggal 8 Februari 2018, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh KLB dari Rp150.000.000.000 menjadi Rp158.000.000.000, yang telah ditempatkan dan disetor penuh oleh Sanghiang dan Bifarma. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.03-0066595 tanggal 14 Februari 2018.

(a) Based on Notarial Deed No. 68 of Mrs. Elly Puspita Sunarya, S.H., dated February 8, 2018, the shareholders agreed to increase the issued and fully paid share capital of KLB from Rp150,000,000,000 to Rp158,000,000,000, which have been issued and fully paid by Sanghiang and Bifarma. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0066595 dated February 14, 2018.

Berdasarkan Akta Notaris Tjong

Trisnawati, S.H., No. 2 tanggal 18 September 2018, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh KLB dari Rp158.000.000.000 menjadi Rp161.000.000.000, yang telah ditempatkan dan disetor penuh oleh Sanghiang dan Bifarma. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia melalui Surat Keputusan No. AHU-AH.01.03-0245774 tanggal 25 September 2018.

Based on Notarial Deed No. 2 of Tjong Trisnawati, S.H., dated September 18, 2018, the shareholders agreed to increase the issued and fully paid share capital of KLB from Rp158,000,000,000 to Rp161,000,000,000, which have been issued and fully paid by Sanghiang and Bifarma. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0245774 dated September 25, 2018.

Berdasarkan pernyataan keputusan

para pemegang saham KLB yang ditandatangani pada tanggal 1 Oktober 2019 dan diaktakan dalam Akta Notaris Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., No. 14 tanggal 28 Oktober 2019, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh KLB dari Rp161.000.000.000 menjadi Rp163.000.000.000, yang telah ditempatkan dan disetor penuh oleh Sanghiang dan Bifarma. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.03-0356019 tanggal 6 November 2019.

Based on KLB’s shareholders’ statement of decree which was signed on October 1, 2019 and covered by Notarial Deed No. 14 of Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., dated October 28, 2019, the shareholders agreed to increase the issued and fully paid share capital of KLB from Rp161,000,000,000 to Rp163,000,000,000, which have been issued and fully paid by Sanghiang and Bifarma. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0356019 dated November 6, 2019.








20




(b) Berdasarkan pernyataan keputusan para pemegang saham KGB yang ditandatangani pada tanggal 21 Mei 2018 dan diaktakan dalam Akta Notaris Sri Buena Brahmana, S.H., M.Kn., No. 45 tanggal 7 Juni 2018, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh KGB dari Rp61.000.000.000 menjadi Rp91.105.000.000, yang telah ditempatkan dan disetor penuh oleh Perusahaan dan Genexine Inc., Korea. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.03-0218105 tanggal 3 Juli 2018.

(b) Based on KGB’s shareholders’ statement of decree which was signed on May 21, 2018 and covered by Notarial Deed No. 45 of Sri Buena Brahmana, S.H., M.Kn., dated June 7, 2018, the shareholders agreed to increase the issued and fully paid share capital of KGB from Rp61,000,000,000 to Rp91,150,000,000, which have been issued and fully paid by the Company and Genexine Inc., Korea. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0218105 dated July 3, 2018.

Berdasarkan pernyataan keputusan para pemegang saham KGB yang ditandatangani pada tanggal 3 Desember 2018 dan diaktakan dalam Akta Notaris Sri Buena Brahmana, S.H., M.Kn., No. 127 tanggal 19 Desember 2018, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh KGB dari Rp91.105.000.000 menjadi Rp128.105.000.000, yang telah ditempatkan dan disetor penuh oleh Perusahaan dan Genexine Inc., Korea. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.03-0025074 tanggal 15 Januari 2019.

Based on KGB’s shareholders’ statement of decree which was signed on December 3, 2018 and covered by Notarial Deed No. 127 of Sri Buena Brahmana, S.H., M.Kn., dated December 19, 2018, the shareholders agreed to increase the issued and fully paid share capital of KGB from Rp91,105,000,000 to Rp128,105,000,000, which have been issued and fully paid by the Company and Genexine Inc., Korea. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0025074 dated January 15, 2019.

Berdasarkan pernyataan keputusan para pemegang saham KGB yang ditandatangani pada tanggal 22 Juli 2019 dan diaktakan dalam Akta Notaris Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., No. 12 tanggal 14 Agustus 2019, para pemegang saham sepakat untuk meningkatkan modal dasar KGB dari Rp130.000.000.000 menjadi Rp1.000.000.000.000 serta meningkatkan modal ditempatkan dan disetor penuh KGB dari Rp128.105.000.000 menjadi Rp270.255.000.000, yang telah ditempatkan dan disetor penuh oleh Perusahaan dan Genexine Inc., Korea. Perubahan tersebut telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU.0054062.AH.01.02 tanggal 20 Agustus 2019.

Based on KGB’s shareholders’ statement of decree which was signed on July 22, 2019 and covered by Notarial Deed No. 12 of Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., dated August 14, 2019, the shareholders agreed to increase the authorized share capital of KGB from Rp130,000,000,000 to Rp1,000,000,000,000 and also increase the issued and fully paid share capital of KGB from Rp128,105,000,000 to Rp270,255,000,000, which have been issued and fully paid by the Company and Genexine Inc., Korea. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU.0054062.AH.01.02 dated August 20, 2019.








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(b) Berdasarkan pernyataan keputusan para

pemegang saham KGB yang ditandatangani pada tanggal 27 Agustus 2019 dan diaktakan dalam Akta Notaris Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., No. 8 tanggal 9 September 2019, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh KGB dari Rp270.255.000.000 menjadi Rp411.665.000.000, yang telah ditempatkan dan disetor penuh oleh Perusahaan dan Genexine Inc., Korea. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.03-0335838 tanggal 23 September 2019.

(b) Based on KGB’s shareholders’ statement of decree which was signed on August 27, 2019 and covered by Notarial Deed No. 8 of Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., dated September 9, 2019, the shareholders agreed to increase the issued and fully paid share capital of KGB from Rp207,255,000,000 to Rp411,665,000,000, which have been issued and fully paid by the Company and Genexine Inc., Korea. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0335838 dated September 23, 2019.

Berdasarkan pernyataan keputusan para

pemegang saham KGB yang ditandatangani pada tanggal 11 September 2019 dan diaktakan dalam Akta Notaris Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., No. 3 tanggal 3 Oktober 2019, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh KGB dari Rp411.665.000.000 menjadi Rp553.075.000.000, yang telah ditempatkan dan disetor penuh oleh Perusahaan dan Genexine Inc., Korea. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.03-0340923 tanggal 4 Oktober 2019.

Based on KGB’s shareholders’ statement of decree which was signed on September 11, 2019 and covered by Notarial Deed No. 3 of Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., dated October 3, 2019, the shareholders agreed to increase the issued and fully paid share capital of KGB from Rp411,665,000,000 to Rp553,075,000,000, which have been issued and fully paid by the Company and Genexine Inc., Korea. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0340923 dated October 4, 2019.

(c) Berdasarkan Akta Notaris Ny. Elly Puspita

Sunarya, S.H., No. 8 tanggal 3 April 2018, para pemegang saham sepakat untuk meningkatkan modal dasar MKT dari Rp109.500.000.000 menjadi Rp250.000.000.000 serta meningkatkan modal ditempatkan dan disetor penuh dari Rp51.125.000.000 menjadi Rp63.000.000.000 melalui penerbitan 190 saham baru seri B dengan nominal seluruhnya sebesar Rp11.875.000.000, yang telah ditempatkan dan disetor penuh oleh PT Kreatif Media Karya. Dengan perubahan tersebut, persentase kepemilikan KLB di MKT menjadi 50%. Akta perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia melalui Surat Keputusan No. AHU-0007426.AH.01.02 tanggal 3 April 2018.

(c) Based on Notarial Deed of Ny. Elly Puspita Sunarya, S.H., No. 8 dated April 3, 2018, the shareholders agreed to increase the authorized capital of MKT from Rp109,500,000,000 to Rp250,000,000,000 and also increase the issued and fully paid share capital from Rp51,125,000,000 to Rp63,000,000,000 by issuing 190 new shares of serial B with nominal value of Rp11,875,000,000, which has been issued and fully paid by PT Kreatif Media Karya. With the aforesaid change, the percentage of ownership of KLB in MKT is 50%. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0007426.AH.01.02 dated April 3, 2018.








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(d) Berdasarkan Akta Notaris Sri Buena

Brahmana, S.H., M.Kn., No. 13 tanggal 15 Januari 2018, para pemegang saham sepakat untuk meningkatkan modal dasar GOF dari Rp500.000.000 menjadi Rp40.000.000.000 serta meningkatkan modal ditempatkan dan disetor penuh dari Rp300.000.000 menjadi Rp30.300.000.000, yang telah ditempatkan dan disetor penuh oleh Danfar dan Finusolprima. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-0003097.AH.01.02 tanggal 9 Februari 2018.

(d) Based on Notarial Deed No. 13 of Sri Buena Brahmana S.H., M.Kn., dated January 15, 2018, the shareholders agreed to increase the authorized share capital of GOF from Rp500,000,000 to Rp40,000,000,000 and also increase the issued and fully paid share capital from Rp300,000,000 to Rp30,300,000,000, which have been issued and fully paid by Danfar and Finusolprima. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0003097.AH.01.02 dated February 9, 2018.

Berdasarkan Akta Notaris Fenny Sugiharto,

S.H., No. 07, tanggal 3 Juli 2018, para pemegang saham sepakat untuk meningkatkan modal dasar GOF dari Rp40.000.000.000 menjadi Rp106.000.000.000 serta meningkatkan modal ditempatkan dan disetor penuh dari Rp30.300.000.000 menjadi Rp96.300.000.000, yang telah ditempatkan dan disetor penuh oleh Danfar dan Finusolprima. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-0014334.AH.01.02 tanggal 16 Juli 2018.

Based on Notarial Deed No. 07 of Fenny Sugiharto S.H., dated July 3, 2018, the shareholders agreed to increase the authorized share capital of GOF from Rp40,000,000,000 to Rp106,000,000,000 and also increase the issued and fully paid share capital from Rp30,300,000,000 to Rp96,300,000,000, which have been issued and fully paid by Danfar and Finusolprima. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0014334.AH.01.02 dated July 16, 2018.

Berdasarkan Akta Notaris Tisha Sophy

Pattinama, S.H., M.Kn., L.L.M., No. 13 tanggal 16 Desember 2019, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh GOF dari Rp96.300.000.000 menjadi Rp98.300.000.000, yang telah ditempatkan dan disetor penuh oleh Danfar dan Finusolprima. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.03-0375743 tanggal 19 Desember 2019.

Based on Notarial Deed No. 13 of Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., dated December 16, 2019, the shareholders agreed to increase the issued and fully paid share capital of GOF from Rp96,300,000,000 to Rp98,300,000,000, which have been issued and fully paid by Danfar and Finusolprima. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0375743 dated December 19, 2019.








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(e) Berdasarkan pernyataan keputusan para

pemegang saham Danfar yang ditandatangani pada tanggal 20 Desember 2017 dan diaktakan dalam Akta Notaris Sri Buena Brahmana, S.H., M.Kn., No. 12 tanggal 15 Januari 2018, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh Danfar dari Rp20.000.000.000 menjadi Rp50.000.000.000, yang telah ditempatkan dan disetor penuh oleh Perusahaan dan Finusolprima. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.03-0060989 tanggal 9 Februari 2018.

(e) Based on Danfar’s shareholders’ statement of decree which was signed on December 20, 2017 and covered by Notarial Deed No. 12 of Sri Buena Brahmana S.H., M.Kn., dated January 15, 2018, the shareholders agreed to increase the issued and fully paid share capital of Danfar from Rp20,000,000,000 to Rp50,000,000,000, which have been issued and fully paid by the Company and Finusolprima. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0060989 dated February 9, 2018.


pemegang saham Danfar yang ditandatangani pada tanggal 4 Juni 2018 dan diaktakan dalam Akta Notaris Fenny Sugiharto, S.H., No. 06 tanggal 3 Juli 2018, para pemegang saham sepakat untuk meningkatkan modal dasar Danfar dari Rp80.000.000.000 menjadi Rp136.400.000.000 serta meningkatkan modal ditempatkan dan disetor penuh dari Rp50.000.000.000 menjadi Rp106.400.000.000, yang telah ditempatkan dan disetor penuh oleh Perusahaan dan Finusolprima. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-0014331.AH.01.02. tanggal 16 Juli 2018.

Based on Danfar’s shareholders’ statement of decree which was signed on June 4, 2018 and covered by Notarial Deed No. 06 of Fenny Sugiharto S.H., dated July 3, 2018, the shareholders agreed to increase the authorized share capital of Danfar from Rp80,000,000,000 to Rp136,400,000,000 and also increase the issued and fully paid share capital from Rp50,000,000,000 to Rp106,400,000,000, which have been issued and fully paid by the Company and Finusolprima. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0014331.AH.01.02 dated July 16, 2018.


pemegang saham Danfar yang ditandatangani pada tanggal 28 November 2019 dan diaktakan dalam Akta Notaris Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., No. 11 tanggal 13 Desember 2019, para pemegang saham sepakat untuk meningkatkan modal ditempatkan dan disetor penuh Danfar dari Rp106.400.000.000 menjadi Rp108.200.000.000, yang telah ditempatkan dan disetor penuh oleh Perusahaan dan Finusolprima. Perubahan tersebut telah dicatatkan pada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-AH.01.03-0375741 tanggal 19 Desember 2019.

Based on Danfar’s shareholders’ statement of decree which was signed on November 28, 2019 and covered by Notarial Deed No. 11 of Tisha Sophy Pattinama, S.H., M.Kn., L.L.M., dated December 13, 2019, the shareholders agreed to increase the issued and fully paid share capital of Danfar from Rp106,400,000,000 to Rp108,200,000,000, which have been issued and fully paid by the Company and Finusolprima. The aforesaid change was acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03-0375741 dated December 19, 2019.








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(f) Pada tanggal 14 Februari 2018, KI dan

Saka mendirikan KMC dengan persentase kepemilikan masing-masing sebesar 99% dan 1%, dengan modal disetor sebesar US$9.125.000. KMC akan bergerak dalam industri farmasi.

(f) On February 14, 2018, KI and Saka established KMC with the percentage of ownership of 99% and 1%, respectively with a paid up capital of US$9,125,000. KMC shall engage in the pharmaceutical industry.

Pada tahun 2019, KMC meningkatkan

modal ditempatkan dan disetor penuh dari US$9.125.000 menjadi US$15.000.000, yang telah disetor penuh oleh KI dan Saka. Pada tanggal 31 Desember 2019, penerbitan saham KMC tersebut masih dalam proses persetujuan pemerintah Myanmar.

In 2019, KMC increased the issued and fully paid share capital from US$9,125,000 to US$15,000,000, which have been fully paid by KI and Saka. As of December 31, 2019, the issuance of the shares by KMC is still subject to the approval by Myanmar authority.

(g) Pada tanggal 31 Mei 2018, GCM dan TSJ

mendirikan GKM berdasarkan Akta Notaris Kartono, S.H., No. 501 dan telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-0030044.AH.01.01 tanggal 25 Juni 2018. Modal dasar GKM terbagi atas 10.000 lembar saham dengan nilai nominal seluruhnya sebesar Rp10.000.000.000. Dari modal dasar tersebut, 3.000 saham dengan nilai nominal seluruhnya sebesar Rp3.000.000.000 telah ditempatkan dan disetor penuh oleh GCM dan TSJ. GKM akan bergerak dalam perdagangan besar farmasi, alat kesehatan, makanan dan minuman lainnya.

(g) On May 31, 2018, GCM and TSJ established GKM based on Notarial Deed No. 501 of Kartono, S.H., and was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0030044.AH.01.01 dated June 25, 2018. The authorized share capital of GKM was divided into 10,000 shares with nominal value amounting to Rp10,000,000,000. From the aforesaid authorized share capital, 3,000 shares amounting to Rp3,000,000,000 have been issued and fully paid by GCM and TSJ. GKM shall engage in the wholesale trading of pharmaceuticals, medical equipment, other food and beverages.

(h) Pada bulan Januari dan September 2018,

Perusahaan meningkatkan modal ditempatkan dan disetor penuh KI dari US$17.150.000 menjadi US$26.383.750.

(h) In January and September 2018, the Company increased the issued and fully paid share capital of KI from US$17,150,000 to US$26,383,750.

Pada bulan Oktober 2019, Perusahaan

meningkatkan modal ditempatkan dan disetor penuh KI dari US$26.383.750 menjadi US$32.323.750.

In October 2019, the Company increased the issued and fully paid share capital of KI from US$26,383,750 to US$32,323,750.







For the Year then Ended (Expressed in Rupiah, unless o

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