Financial Risk

4. Financial Risk

a. Credit Risk

The Company credit risk exposure occured from trade receivable. The Company oversaw the receivable collectability so could be receive on time and also reviewed the receivable of each customers periodically to judge bad debt potention.

b. Currency Risk

The Company exposure on currency exchange risk occured particularly from future cash flow fair value which fluctuate on cash, cash equivalent and trade payable in foreign currency caused by changed of exchange rate. In The Company exposure on currency exchange risk occured particularly from future cash flow fair value which fluctuate on cash, cash equivalent and trade payable in foreign currency caused by changed of exchange rate. In

Eksposur Grup terhadap risiko likuiditas timbul terutama dari penempatan dana dari kelebihan penerimaan kas setelah dikurangkan dari penggunaan kas untuk mendukung kegiatan usaha Grup. Grup mengelola risiko likuiditas dengan menjaga kecukupan arus kas dan fasilitas bank dengan terus memonitor proyeksi arus kas dan ketersediaan dana. Grup juga menerapkan manajemen risiko likuiditas yang berhati-hati dengan mepertahankan saldo kas yang cukup yang berasal dari penagihan hasil penjualan dan menempatkan kelebihan dana kas dalam instrumen keuangan dengan tingkat risiko yang rendah namun memberikan imbal hasil yang memadai serta memperhatikan reputasidan kredibilitas lembaga keuangan.

SISTEM PELAPORAN PELANGGARAN (WHISTLEBLOWING SYSTEM)

Perusahaan memberikan kesempatan kepada Manajemen dan Karyawan Perusahaan untuk dapat melaporkan setiap kasus korupsi, suap, gratifikasi, maupun penyelewengan lainnya kepada Komite Anti Korupsi dan Gratifikasi dengan mengikuti standar prosedur yang berlaku;

Pelaporan dapat disampaikan melalui surat (pos)/e- mail/portal website/langsung menghubungi anggota komite;

Pelapor wajib mencantumkan identitas dirinya seperti: nama, alamat, nomor telepon dan e-mail (jika ada) untuk setiap laporan yang disampaikan;

Perusahaan berkewajiban melindungi pelapor yang bertujuan agar dapat mendorong keberanian pelapor lainnya dalam melaporkan pelanggaran. Perlindungan pelapor meliputi jaminan kerahasiaan identitas pelapor dan isi laporan serta jaminan keamanan bagi pelapor dari perusahaan terhadap perlakuan yang merugikan, seperti pemecatan yang tidak adil, penurunan jabatan, intimidasi, pelecehan atau diskriminasi dalam segala bentuknya, dan catatan yang merugikan dalam file data pribadi. Perusahaan juga memberikan jaminan kerahasiaan terhadap identitas terlapor selama dugaan pelanggaran belum terbukti;

Pengaturan mengenai sistem pelaporan pelanggaran diatur tersendiri dalam Standard Operating Procedure (SOP) Whistleblowing System

c.Liquidity Ratio

The Company Exposure to liquidity risk occured particularly from fund placement as spread of cash flow from operation. The Company managed liquidity risk by maintained the adequacy of cash flow and bank facility, kept monitoring cash flow porjection and fund availability. The Company also applied prudent liquidity risk management by maintaining adequate cash balance generated from receivable collection and placed in low risk financial instrument but gave fair gain as well as counted on financial institution reputation.

WHISTLEBLOWING SYSTEM

The Company offer to employee and Board to report any corruption, bribery, gratification or any other fraud to anti corruption and gratification committee by follow prevail standard and procedure

The report can be submitted through letter, email, website or to members of committee directly.

c.The informants have to embed their identity such as name, address, phone number and mail address for each report submitted.

The Company has to protect the informant in order to encourage others informant courage to report the violation. Informant protection include informant confidential identity and content guarantee and the Company security guarantee toward adverse effect such as unfair dismissal, demotion, intimidation, harassement or discrimination in all way, and adverse record in private data file. The Company also provide security guarantee as long as the prejudice violations have not been proven.

Arrangement on violation reporting system, ruled separately in Whistleblowing System Standard and Procedure

a)

b)

c)

d)

e)

a)

b)

c)

d)

e)

ASPEK, PRINSIP & REKOMENDASI PEDOMAN TATA KELOLA PERUSAHAAN TERBUKA

PEMENUHAN

PENJELASAN

ASPECT, PRINCIPAL AND RECOMMENDATION OF

EXPLANATION GOOD CORPORATE GOVERNANCE

FULFILLMENT

A. Hubungan Perseroan dengan Pemegang Saham dalam Menjamin Hak-Hak Pemegang Saham Relation of the Company with the Shareholders in Ensuring the Shareholders Rights

1. Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham (RUPS). Improving the Value of General Meeting of Shareholders (GMS) implementation

1.1) Perseroan memiliki cara atau prosedur teknis pengumpulan suara (voting) baik secara terbuka maupun tertutup yang mengedepankan independensi dan kepentingan pemegang

4 Perseroan telah memenuhi Prinsip 1, Rekomendasi 1

saham. The Company has met Principle 1, The public company have technical voting procedure both open or close which prior the

Recommendation 1 independency and interest of shareholders

1.2) Seluruh anggota Direksi dan anggota Dewan Komisaris Perseroan hadir dalam RUPS Seluruh anggota Direksi hadir dan 2 (dua) Tahunan.

8 anggota Dewan Komisaris berhalangan

All members of Directors (BoD) and Board of Commissioners (BoC) attended the GMS All members of BoD attended and 2 (two) member of BoC unabled to attend

1.3) Ringkasan risalah RUPS tersedia dalam Situs Web Perseroan paling sedikit selama 1

4 Perseroan telah memenuhi Prinsip 1,

(satu) tahun Rekomendasi 3 Minutes of GMS summary provided in the public company website at least for 1 (one) years.

The Company has met Principle 1, Recommendation 3

2. Meningkatkan Kualitas Komunikasi Perseroan dengan Pemegang Saham atau Investor. Improving of the Company communication quality with shareholders or investors.

2.1) Perseroan memiliki suatu kebijakan komunikasi dengan pemegang saham atau investor

4 The public company has a communication policy toward the shareholders or investor. Perseroan telah memenuhi Prinsip 2, Rekomendasi 1

The Company has met Principle 2, Recommendation 1

2.2) Perseroan mengungkapkan kebijakan komunikasi Perusahaan dengan pemegang saham Perseroan tidak menampilkan kebijakan atau investor dalam situs web.

8 khusus tentang keterbukaan informasi di situs

The public company disclose the Company communication policy toward shareholders/

Perseroan

investor The Company did not displayed the special policy regarding information disclosure in the Company website

B. Fungsi dan Peran Dewan Komisaris

The BoC Function and Role 3. Memperkuat Keanggotaan dan Komposisi Dewan Komisaris. Strengthening the Membership and Composition of the BoC.

3.1) Penentuan jumlah anggota Dewan Komisaris mempertimbangkan kondisi Perseroan.

4 Perseroan telah memenuhi Prinsip 3,

Appointment of the number of BoC consider the public company condition Rekomendasi 1 The Company has met Principle 3, Recommendation 1

3.2) Penentuan komposisi anggota Dewan Komisaris memperhatikan keberagaman keahlian,

4 pengetahuan dan pengalaman yang dibutuhkan. Perseroan telah memenuhi Prinsip 3, Rekomendasi 2 Appointment of BoC composition, consider the expertise diversity and experience needed.

The Company has met Principle 3, Recommendation 2

4. Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris. Improving the Quality of Duties and Responsibilities Performance of the BoC

4.1) Dewan Komisaris mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai Perseroan belum mempunyai kebijakan penilaian kinerja Dewan Komisaris.

8 sendiri untuk menilai kinerja Dewan Komisaris,

Board of Commissioners (BoC) have Self Assessment policy to assess BoC performance. karena Perseroan kesulitan menentukan kriteria dan hal-hal yang akan dinilai. The Company has not set the policy regarding Self Assessment of BoC yet due to the difficulties

in determining criteria or items which will be assessed.

4.2) Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Dewan Komisaris, Oleh karena belum memiliki kebijakan penialaian diungkapkan melalui Laporan Tahunan Perseroan.

8 sendiri, sehingga belum dapat diungkap di

Self Assessment policy of BoC disclose in annual report of the public company Laporan Tahunan Has not disclose due to do not have the policy

4.3) Dewan Komisaris mempunyai kebijakan terkait pengunduran diri anggota Dewan Komisaris Perseroan telah memenuhi Prinsip 4, apabila terlibat dalam kejahatan keuangan.

4 Rekomendasi 3

Boad of Commissioners (BoC) have the policy regarding resignation of BoC members if The Company has met Principle 4, involved in financial crime

Recommendation 3 4.4) Dewan Komisaris atau Komite yang menjalankan fungsi Nominasi dan Remunerasi

8 Perseroan belum menemukan personal yang tepat untuk ditunjuk dan menjalankan fungsi

menyusun kebijakan suksesi dalam proses Nominasi anggota Direksi.

Board of Commissioners actuate the nomination and remuneration function, arrange komite nominasi dan remunerasi. The Company has not found the right and proper

succession policy in Board of Director members nomination process. person to be appointed and acted as nomination and remuneration committee.

C. Fungsi dan Peran Direksi The Directors Functions and Roles

5. Memperkuat Keanggotaan dan Komposisi Direksi. Strengthening the Membership and Composition of the Directors. 5.1) Penentuan jumlah anggota Direksi mempertimbangkan kondisi Perseroan serta efektifitas

Perseroan telah memenuhi Prinsip 5, dalam pengambilan keputusan.

4 Rekomendasi 1

ASPEK, PRINSIP & REKOMENDASI PEDOMAN TATA KELOLA PERUSAHAAN TERBUKA

PENJELASAN ASPECT, PRINCIPAL AND RECOMMENDATION OF

PEMENUHAN

EXPLANATION GOOD CORPORATE GOVERNANCE

FULFILLMENT

6. Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi. Improving the Quality of Duties and Responsibilities Performance of the Directors .

6.1) Direksi mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Perseroan belum mempunyai kebijakan penilaian Direksi

8 sendiri untuk menilai kinerja Direksi, karena

Board of Directors have Self Assessment policy to assess their performance. Perseroan kesulitan menentukan kriteria dan hal- hal yang akan dinilai The Company has not set the policy regarding Self determining criteria or items which will be assessed Assessment of BoD yet due to the difficulties in

6.2) Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Direksi diungkapkan melalui Laporan Tahunan Perseroan

8 Oleh karena belum memiliki kebijakan penialaian sendiri, sehingga belum dapat diungkap di Laporan Tahunan

Self Assessment policy of BoD disclose in annual report of the public company Has not disclose due to do not have the policyRecommendation 2

6.3) Direksi mempunyai kebijakan terkait pengunduran diri anggota Direksi apabila terlibat

4 dalam kejahatan keuangan. Perseroan telah memenuhi Prinsip 6, Rekomendasi 3 Boad of Directors (BoD) have the policy regarding resignation of BoD members if involved

The Company has met Principle 6, in financial crime

Recommendation 3 D. Partisipasi Pemangku Kepentingan

Participation of the Stakeholders 7. Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan.

Perseroan telah memenuhi Prinsip 7, Improving Corporate Governance Aspect through Participation of the Stakeholders.

4 Rekomendasi 1

7.1) Perseroan memiliki Kebijakan untuk mencegah terjadinya insider trading The Company has met Principle 7, The public Company has a policy to prevent the insider trading

Recommendation 1

7.2) Perseroan memiliki Kebijakan anti korupsi dan anti fraud. The public company has a policy of anti corruption and anti fraud

4 Perseroan telah memenuhi Prinsip 7, Rekomendasi 2 The Company has met Principle 7,

Recommendation 2 7.3) Perseroan memiliki Kebijakan tentang seleksi dan peningkatan kemampuan pemasok atau vendor.

4 Perseroan telah memenuhi Prinsip 7,

The Company has a policies concerning selection and capability improvement of suppliers

and vendors. Rekomendasi 3 The Company has met Principle 7, Recommendation 3

7.4) Perseroan memiliki Kebijakan tentang pemenuhan hak-hak kreditur. The public company has suppliers selection policy and improve the suppliers capability

4 Perseroan telah memenuhi Prinsip 7, Rekomendasi 4 The Company has met Principle 7,

Recommendation 4 7.5) Perseroan memiliki Kebijakan sistem Whistleblowing. The public company has whistle blowing system