1 Risiko Budget; Informasi Keuangan

Laporan Tahunan 2016 Annual Report PT PELNI Persero Manajemen Risiko Risk Management Penerapan Manajemen Risiko PT PELNI Persero mengimplementasi kan Sistem Manajemen Risiko sesuai dengan framework ISO 31000 untuk menghasilkan praktik manajemen risiko dengan perspektif lebih luas, mudah dipahami, terukur serta mendukung koordinasi dan integrasi antar unit kerja di Perseroan. Penerapan Sistem Manajemen Risiko di Perseroan terdiri dari tahapan pengelolaan risiko yang sistematis meliputi: 1. Tahap Pemantauan Pelaksanaan meeting, diskusi dan kajian Manajemen Risiko antara Dewan Komisaris, Komite Kebijakan Risiko bersama Unit Manajemen Risiko serta penyusunan risk register secara rutin setiap triwulan. 2. Tahap Komunikasi Konsultasi Persetujuan risk register setiap pemilik risiko dengan Direksi sehingga Direksi dapat mengetahui dan menyetujui pengelolaan risiko di setiap Direktorat di bawah tanggung jawabnya. 3. Tahap Sosialisasi Pemaparan kepada seluruh Pemilik Risiko risk owner pada saat meeting dan sharing by email kepada seluruh Divisi Pemilik Risiko tentang Laporan Manajemen Risiko tiap triwulanan kemudian setiap meeting agenda lain dilakukan pemaparan secara sekilas tentang pengelolaan risiko yang dilakukan di unit kerja masing-masing. Kebijakan Direksi tentang Manajemen Risiko di PT PELNI Persero Kebijakan Sistem Manajemen Risiko di Perseroan telah diperbarui berdasarkan Surat Keputusan Direksi No. 10.062 SKHKO.012016 tanggal 6 Oktober 2016 tentang Penetapan Pedoman Manajemen Risiko PT PELNI Persero. PT PELNI Persero mulai menerapkan ISO 31000 sebagai basis dalam pengelolaan risiko pada pertengahan tahun 2015. Hal ini dikarenakan bahwa Risk Management Base On ISO 31000 lebih luas perspektifnya, lebih mudah dipahami, terukur secara kuantitatif dan lebih mudah diterapkan secara terkoordinasi dan terintegrasi antar unit kerja. Dalam upaya penerapan Pemantauan dan Komunikasi Konsultasi sesuai Kerangka Kerja Frame Work dan Proses Pengelolaan Risiko Risk Management ISO 31000 maka dilakukan tahapan Pemantauan sebagai berikut: Risk Management System Implementation PT PELNI Persero implements Risk Management System based on ISO 31000 framework to establish risk management practice with broader perspective, easier to be understood, measured and support cross working units coordination and integration in the Company comprising of systematic risk management phases, including: 1. Monitoring Phase Implementation of Risk Management meeting, discussion and review among Board of Commissioners, Risk Policy Committee and Risk Management Unit as well as risk register formulation periodically in every quarter. 2. Communication Consulting Phase Risk register approval from every risk owner with the Board of Directors, therefore, the Board of Directors will acknowledge risk management in every Directorate under their responsibility. 3. Socialization Phase Presentation to all risk owner during the meeting and sharing by email to all Risk DivisionOwner regarding Risk Management quarter report and in every meeting for other agenda, also included brief presentation about risk management in each working unit. Board of Directors Policy on Risk Management at PT PELNI Persero Risk Management System policy has been updated according to Board of Directors Decree No. 10.062SKHKO.012016 dated October 6, 2016 regarding Stipulation of PT PELNI Persero Risk Management Policy. PT PELNI Persero started to implement ISO 31000 as basis of risk management since mid-2015. This is due to the Risk Management Based on ISO 31000 has broader perspective, easier to be understood, measurable quantitatively and implemented under cross working units coordination and integration. In the Monitoring and Communication Consulting Phases process, according to ISO 31000 Risk Management Process Framework, the Monitoring process is as follows: Laporan Tahunan 2016 Annual Report PT PELNI Persero a. Meeting, diskusi dan review Risk Management antara Komisaris, Komite Kebijakan Risiko bersama Unit Manajemen Risiko secara rutin tiap triwulanan untuk memantau dan membahas progress pengelolaan risiko perusahaan; dan b. Penyusunan risk register tiap Pemilik Risiko secara rutin tiap triwulanan dengan melakukan proses diskusi, review dan brainstorming dengan Unit Manajemen Risiko; Unit Manajemen Risiko sebagai fasilitator dan katalisator pengelolaan risiko di perusahaan oleh karena itu harus memiliki sumber daya manusia yang ahli expert di bidang risk management. Dalam rangka memenuhi hal tersebut, dilakukan peningkatan kompetensi SDM di unit manajemen risiko dengan mengikutsertakan workshop dan standardisasi sertifikat risk management berbasis ISO 31000 secara berkelanjutan. Tercatat sampai tahun 2016, 1 orang expert risk management Staf Utama Direktur Utama, 1 orang manager memiliki sertifikasi risk management base on ISO 31000 dan base on ISO 31010, 2 orang staf memiliki sertifikasi risk management base on ISO 31000 dan ISO 31010. Profil dan Mitigasi Risiko

A. Risiko Keselamatan Kapal Penumpang perspektif Armatek;

Masih menjadi urutan pertama dalam 15 Risiko Utama karena menyiapkan armada kapal yang laik laut seaworthiness merupakan hal yang utama dalam menjalankan operasional perusahaan pelayaran dan mengelola risiko keselamatan kapal adalah assurance dalam menyiapkan kapal laik laut seaworthiness. Tindakan Mitigasi: Melakukan sistem perawatan kapal yang telah dibakukan secara konsisten baik secara harian, bulanan maupun docking tahunan termasuk home doctor service, husbanding team dengan menerapkan Integrated Maintenance System dan penerapan Fleet Management berbasis Tekonologi Informasi.

B. Risiko Keselamatan Kapal Penumpang perspektif Operasi;

Risiko keselamatan kapal penumpang ditinjau dari perspektif pengoperasian kapal merupakan salah satu alat untuk mengelola risiko ini agar lebih fokus dan detail, karena memiliki peran yang penting dalam menjalankan alat produksi yang menghadapi berbagai macam tantangan ketidakpastian cuaca, kondisi dermaga dan fasilitas kepelabuhanan, alat-alat keselamatan dan pencetus risiko lainnya risk drivers. a. Risk Management meeting, discussion and review among the Board of Commissioners, Risk Policy Committee and Risk Management Unit periodically in every quarter to supervise and discuss risk management progress; and b. Formulation of risk register of every Risk Owner periodically in every quarter through discussion, review and brainstorming with the Risk Management Unit; As risk management facilitator and catalyst in the Company, the Risk Management Unit shall have Expert personnel in risk management field. In order to fulfill this requirement, personnel competency development in risk management unit had been done by participating the personnel in risk management workshop and certificate standardization based on ISO 31000 in on going basis. As of 2016, 1 risk management expert Main Staff of the President Director, 1 Manager with risk management certification based on ISO 31000 and based on ISO 31010, 2 staffs with risk management certification based on ISO 31000 and ISO31010. Risk Profile and Mitigation

A. Vessels Passenger Safety Risk in Fleet Technical Perspective

The risk is placed on the first rank of 15 Key Risks due to preparation of seaworthiness vessel fleet is primary aspect in running the shipping company’s operations and mitigate the vessel safety risk becomes the assurance in preparing seaworthiness of the ship. Mitigation Plan: Consistent formal ship maintenance both daily and monthly as well as annual docking including home doctor service, husbanding team and implementation of Integrated Maintenance System and Fleet Management based on Information Technology.

B. Vessel Passenger Safety Risk in Operational Perspective

In operational perspective, vessel passenger safety risk becomes one of the instruments to mitigate the risk to be more focus and detail for having important role in operating modes of production that experienced various challenges such as weather uncertainty, pier and ports facilities condition, safety equipment and other risk drivers. Laporan Tahunan 2016 Annual Report PT PELNI Persero Tindakan Mitigasi: Di kapal-kapal yang dioperasikan PT PELNI Persero, secara periodik dalam 1 satu voyage harus melakukan latihan penanggulangan keadaan darurat emergency dan latihan meninggalkan kapal abandon ship juga menyiapkan peralatan keselamatan penumpang. Disamping itu, kebijakan fundamental yang selalu diterapkan adalah tidak akan memberangkatkan kapal jika ada hal-hal yang dirasa dapat mengancam keselamatan.

C. Risiko Keselamatan Kapal Penumpang Perspektif Designated Persons Ashore DPA;

Merupakan risiko yang sangat besar dampaknya maka sebuah unit kerja didirikan khusus untuk melakukan pemeriksaan internal safety audit dan pemantauan kepatuhan compliance terhadap semua peraturan dan ketentuan nasional dan internasional yang berlaku di lingkungan pelayaran. Tindakan Mitigasi: Melakukan sinergi dan koordinasi dengan pihak eksternal safety audit diantaranya Biro Klasifikasi Indonesia dalam pemeriksaan keselamatan kapal, kesiapan peralatan keselamatan, kecukupan alat keselamatan sesuai peraturan dan ketentuan yang berlaku. Hasil temuan dari pemeriksaan keselamatan harus segera ditindaklanjuti. Risiko Keselamatan Kapal Penumpang Perspektif Armatek, Operasi dan DPA Ship Passenger Safety Risk Fleets Technical, Operations DPA Perspective Risiko KotorGross Risk Risiko SisaRisk Outstanding Keterangan Description Probalitas Probability Dampak Milyar Impact billion Tingkat Level Probalitas Probability Dampak Milyar Impact Billion Tingkat Level Almost Certain 100 Almost Certain 100 12,6 T Catastropic 12,6 T Catastropic 12,6 T Extreme 12,6 T Extreme Unlikely 40 Unlikely 40 257 Catastropic 257 Catastropic 102,8 M High 102,8 Bio High Program mitigasi telah berhasil menurunkan tingkat risiko sebesar 12,4 T dan tingkat risiko ini dapat diterima dgn kondisi bahwa kontrol yang ada dapat menjaga stabilitas keselamatan kapal Mitigation program that successfully reduced risk level by Rp12.4 trillion and the risk may be accepted under condition that the existing control is capable to maintain stability of the vessel’s safety

2. Risiko Budget;

Risiko anggaran budgetting suatu risiko yang dihadapi perusahaan dalam hal pengelolaan anggaran yang telah ditetapkan dengan risk driver komponen biaya dan pendapatan. Dilakukan risk assesment secara periodik triwulanan maka dilakukan langkah-langkah tindaklanjut detail response plan untuk menangani risiko ini sehingga dapat dihilangkan atau dikurangi dampak finansialnya terhadap anggaran. Mitigation Plan: On the ships operated by PT PELNI Persero, 1 one voyage shall perform emergency response and abandon ship training periodically as well as preparing passenger safety equipment. In addition, the fundamental policy to be implemented is not to depart the ship if there is any issue that is analyzed may threat the safety.

C. Vessel Passenger Safety Risk in Designated Persons Ashore Perspective DPA;

A risk with huge impact, therefore, a special working unit has been established to perform internal safety unit and compliance monitoring towards all of national and international regulations in shipping industry. Mitigation Plan: Synergy and coordination with external safety audit, such as Indonesia Classification Bureau to examine vessels safety, safety equipment readiness according to the prevailing Law. Result of the safety audit finding shall be followed-up immediately. 2. Budget Risk; Budgeting risk refers to a risk experienced by the Company in terms of budget management as stipulated with cost and revenue components as risk drivers. Risk assessment had been done periodically in every quarter and detail response plan had been implemented to mitigate the risk, therefore, the risk is possible to be eliminated or reduced in terms of its financial impact on the budget. Laporan Tahunan 2016 Annual Report PT PELNI Persero Tindakan Mitigasi: Melakukan kebijakan disiplin anggaran dengan mengingatkan kepada pengguna anggaran atau tiap-tiap unit kerja untuk memenuhi RKAP yang telah ditetapkan. Risiko Budget Budget Risk Risiko KotorGross Risk Risiko SisaRisk Outstanding Keterangan Description Probalitas Probability Dampak Milyar Impact billion Tingkat Level Probalitas Probability Dampak Milyar Impact Billion Tingkat Level BiayaCost Almost Certain 100 Almost Certain 100 3,2 T Catastropic 3,2 T Catastropic 3,2 T Extreme 3,2 T Extreme Almost Certain 100 Almost Certain 100 Biaya di bawah anggaran Expenses below the budget Nil Mitigasi yang dijalankan berhasil menurunkan risiko ini, disiplin anggaran merupakan salah satu mitigasinya The Mitigation has successfully reduced the risk, budget discipline was one of the mitigation Pendapatan Revenue Almost Certain 100 Almost Certain 100 4,2 T Catastropic 4,2 T Catastropic 4,2 T Extreme 4,2 T Extreme Almost Certain 100 Almost Certain 100 Pendapatan Tercapai Revenue target achievement Nil Mitigasi yang dijalankan berhasil menurunkan risiko ini, disiplin anggaran merupakan salah satu mitigasinya The Mitigation has successfully reduced the risk, budget discipline was one of the mitigation

3. Risiko Public Service Obligation PSO;

Dana Public Service Obligation PSO masuk dalam struktur pendapatan perusahaan sehingga merupakan suatu risiko cukup besar bagi financial perusahaan apabila tidak tertangani dengan baik pengelolaannya. Pada tahun 2016, risiko PSO ini masuk dalam risk tolerance karena serapan Dana PSO terpenuhi. Tindakan Mitigasi: Menjaga pemenuhan voyage seluruh kapal merupakan risk response plan yang tepat disamping tahap-tahap teknis lainnya. Risiko Public Service Obligation PSO Public Service Obligation PSO Risk Risiko KotorGross Risk Risiko SisaRisk Outstanding Keterangan Description Probalitas Probability Dampak Milyar Impact billion Tingkat Level Probalitas Probability Dampak Milyar Impact Billion Tingkat Level Almost Certain 100 Almost Certain 100 1,8 T Catastropic 1,8 T Catastropic 1,8 T Extreme 1,8 T Extreme Almost Certain 100 Almost Certain 100 0 M 0Bio Nil Program mitigasi teIah berhasil menurunkan tingkat risiko ini dan menjadi risk tolerance karena pendapatan PSO tercapai The mitigation program has successfully reduced this risk level and became risk tolerance after achieving PSO revenue target. Mitigation Plan: Implementation of tight budget policy by warning the budget user or every working unit to comply with stipulated Budget Plan RKAP. 3. Public Service Obligation PSO Risk; Public Service Obligation PSO proceeds is included in the Company’s revenue structure, therefore, this becomes a major risk for the Company’s financial if not properly managed. In 2016, PSO risk is classified as risk tolerance due to the PSO proceeds absorption is fulfilled. Mitigation Plan: To maintain voyage fulfillment in al vessels as correct risk response plan besides other technical initiatives. Laporan Tahunan 2016 Annual Report PT PELNI Persero

4. Risiko Kelangsungan Usaha Perusahaan;

Tingkat Competitiveness Level yang rendah pada segmen pasar penumpang long distance dan tren penurunan jumlah penumpang merupakan suatu risiko kelangsungan usaha bagi perusahaan. Tindakan Mitigasi: Diperlukan kajian perubahan pola trayek medium distance. Risiko Kelangsungan Usaha Business continuity risk Risiko KotorGross Risk Risiko SisaRisk Outstanding Keterangan Description Probalitas Probability Dampak Milyar Impact billion Tingkat Level Probalitas Probability Dampak Milyar Impact Billion Tingkat Level Almost Certain 100 Almost Certain 100 1,8 T Catastropic 1,8 T Catastropic 1,8 T Extreme 1,8 T Extreme Almost Certain 100 Almost Certain 100 340 M Catastopic 340 Bio Catastopic 340 M Extreme 340 Bio Extreme Response Plan yang ditetapkan mampu mengelola risiko keberlangsungan usaha perusahaan dengan tingkat residu risk sebesar 340 M dari 1,8 T gross risk. Stipulated response plan is capable to mitigate business continuity risk with risk residual level at 340 M from gross risk of 1.8 trillion

5. Risiko Pax Factor Kapal Penumpang;

Tingkat pax factor penumpang yang rendah serta terdapat tren penurunan jumlah penumpang kapal-kapal PELNI maka menjadi suatu risiko yang harus ditangani segera. Tindakan Mitigasi: Promosi preonbard, onboard dan post onboard melalui event-event dan MICE serta kemudahan penjualan tiket kapal bagi calon penumpang. Risiko Pax Factor Pax Risk Factor Risiko KotorGross Risk Risiko SisaRisk Outstanding Keterangan Description Probalitas Probability Dampak Milyar Impact billion Tingkat Level Probalitas Probability Dampak Milyar Impact Billion Tingkat Level Almost Certain 100 Almost Certain 100 1,4T Catastropic 1,4T Catastropic 1,4 T Extreme 1,4 T Extreme Almost Certain 100 Almost Certain 100 353 M Catastopic 353 Bio Catastopic 353 M Extreme 353 Bio Extreme Pengelolaan risiko ini dengan menetapkan response plan program marketing mix dapat menurunkan gross risk yang ada. The management of this risk by setting the response plan program marketing mix can reduce the gross risk.

6. Risiko Kelayakan dan Keamanan Gedung;

Kelayakan dan keamanan gedung merupakan suatu risiko bagi penggunanya, terlebih ada beberapa gedung yag disewakan ke pihak ketiga, maka risiko ini harus ditangani dengan baik. 4. Business Continuity Risk; Low competitiveness level in long distance passenger segment and decreasing trend of passenger number brought business continuity risk for the Company. Mitigation Plan: Review the medium distance route scheme. 5. Passenger Ship Pax Factor Risk; Low passenger pax factor level and decreasing trend of PELNI ships passenger number brought a risk that shall be mitigated immediately. Mitigation Plan: Pre-onoard, onboard and post onboard promotion via events and MICE and easy passenger ship ticket sales. 6. Building Feasibility and Security Risk; Building feasibility and security is a risk for the user, further, some buildings are rented to third parties, the risk shall be mitigated properly. Laporan Tahunan 2016 Annual Report PT PELNI Persero Tindakan Mitigasi: Penyusunan SOP Penggunaan dan Pemeliharaan Gedung menjadi risk response plan risiko ini. Risiko Kelayakan dan Keamanan Gedung Building feasibulity and sercurity risk Risiko KotorGross Risk Risiko SisaRisk Outstanding Keterangan Description Probalitas Probability Dampak Milyar Impact billion Tingkat Level Probalitas Probability Dampak Milyar Impact Billion Tingkat Level Almost Certain 100 Almost Certain 100 1,2 T Catastropic 1,2 T Catastropic 1,2 T Extreme 1,2 T Extreme Rare 40 Rare 40 12,1 M Major 12,1 Bio Major 12,1 M High 12,1 Bio High KRI Target tercapai dan Response Plan dilaksanakan sehingga dapat menurunkan gross risk. KRI target is achieved and Response Plan is done to reduce gros risk

7. Risiko Pemakaian BBM dan Pelumas;

Biaya BBM dan pelumas merupakan biaya variable terbesar bagi PT PELNI Persero dalam mengoperasikan armada kapal. Tindakan Mitigasi: Pembentukan Biro Pengelolaan Bahan Bakar yang bertugas monitoring pemakaian BBM dan pelumas sesuai dengan standar yang telah ditetapkan Standard Fuel Oil Consumption akan berdampak pada efisiensi pemakaian BBM Pelumas. Risiko Kenaikan Harga BBM Pelumas Oil Fuel Lubricants Price Increase Risk Risiko KotorGross Risk Risiko SisaRisk Outstanding Keterangan Description Probalitas Probability Dampak Milyar Impact billion Tingkat Level Probalitas Probability Dampak Milyar Impact Billion Tingkat Level Almost Certain 100 Almost Certain 100 1,05 T Catastropic 1,05 T Catastropic 1,2 T Extreme 1,2 T Extreme Moderate 60 Moderate 60 17,5 M Major 17,5 Bio Major 10,5 M High 10,5 Bio High Pengelolaan risiko ini dengan baik SFOC mampu menurunkan gross risk sebesar 1,05 T menjadi residual risk sebesar 10,5 M. This sufficient risk management SFOC is capable to decrease gross risk by Rp1.05 trilliob to resiual risk at 10.5 billion.

8. Risiko Pemasaran Kapal Barang, Ternak Perintis;

Penyerapan subsidi pada Kapal Barang Tol Laut, Perintis dan Ternak merupakan salah satu kunci keberhasilan pengelolaan risiko ini. Tindakan Mitigasi: Pemenuhan voyage Kapal Barang Tol Laut, Perintis dan Ternak menjadi hal yang utama dalam mitigasinya. Mitigation Plan: Formulation of Building Use and Maintenance as this risk response plan. 7. Oil Fuel and Lubricants Consumption Risk; Oil fuel and lubricants costs are the highest variable cost for PT PELNI Persero in operating its vessel fleets. Mitigation Plan: Establishment of Oil Fuel Management Bureau who is in charge to monitor Oil Fuel and Lubricants use based on stipulated standard Standard Fuel Oil Consumption that will influence Oil Fuel Lubricants use efficiency. 8. Cargo, Cattle Pioneer Ships Marketing Risk; Subsidy absorption in cargo ship, Tol Laut Shop, Piooner Ship and Cattle Ship becomes key of this risk management success. Mitigation Plan: Fulfillment of Tol Laut, Pioneer and Cattle ships voyage is primary mitigation plan.