III. REPORT OF THE BOARD OF DIRECTORS
Dear Shareholders, Praise be to the Almighty God who has provided guidance and
protection so that PT SMR Utama Tbk managed to close 2016 with better outcomes.
Global trade is stagnant, not many investments made, policy uncertainty still surrounds in the year of 2016. However, some
commodity prices began to improve, especially for the price of oil and coal. And based on the General Plan of Power Supply RUPTL 2016-
2025, to realize the addition of 35,000 MW program, Steam Power power plant coal will still dominate the type of plant to be built, which
is about 55 of the total capacity will be built. Referring to the data, the Board of Directors and management team believes the future of the coal industry will shine again, which in turn have a
positive impact on the Company. The price of coal began to improve in the second half of 2016, characterized by an increased
average selling prices of USD 61 per ton in 2015 to USD 70 per ton in 2016. These create such positive to the Company by obtaining additional new contracts with PT Berau Coal in Site
Binungan. The production volume also increased from 21.32 million BCM in 2015 to 24.96 million BCM in 2016, with the improvement of the coal industry and thanks to the hard work and
support of all employees, the Company successfully closed the year 2016 with the achievement of EBITDA Earnings Before Interest, Tax and Depreciation of approximately USD 15 million increase
compared to the previous year of approximately USD 13 million. Directors also continue to encourage improved quality of corporate governance practices both
within the Company. And not forget to mention, aspects of occupational safety is also a concern of Directors in any activities that the companys did. Along with the Companys growth, the
function of the Audit Committee and the Internal Audit also maximized in order to the best contribution to the Company as a whole.
Finally, the Board of Directors would like to thank the Board of Commissioners, shareholders, customers, and communities around the mine upon landing, the support and the cooperation.
Directors also saying thanks and highest appreciation to all employees of the Company and its subsidiaries on all of the toil, hard work, dedication and commitment shown so far in order to
improve the Companys performance. Directors believe with the support of various parties, the Company will be moving rapidly in years to come.
On behalf of the Board of Directors J. WAHYOEDI HIDAYAT
PRESIDENT DIRECTOR
Annual Report 2016
PT. SMR Utama Tbk
6
IV. PROFIL PERSEROAN COMPANY PROFILE
4.1 Informasi dan Riwayat singkat Perseroan
4.1 Information and a brief history of the Company
Perseroan adalah suatu Perseroan Terbatas yang didirikan berdasarkan
hukum dan peraturan perundang‐ undangan Republik Indonesia untuk pertama
kali dengan nama “PT Dwi Satria Jaya”, yang berkedudukan di Semarang berdasarkan Akta
Pendirian Perseroan nomor 31 tanggal 11 November 2003, dibuat dihadapan Fransisca
Eka Sumarningsih,S.H.,M.H., Notaris di Semarang, yang telah mendapat
Pengesahan Akta Pendirian Perseroan Terbatas dari Menteri Kehakiman dan Hak
Asasi Manusia Republik Indonesia dibawah nomor C‐28091 HT.01.01.TH.2003 tanggal 21
November 2003 “Akta Pendirian Perseroan” The Company is a limited liability company
incorporated under the laws and legislation of the Republic of Indonesia for the first
time under the name PT Dwi Satria Jaya, which is located in Semarang based on the
Deed of Establishment of Company No. 31 dated 11 November 2003 made before
Fransisca Eka Sumarningsih, SH, MH, notary in Semarang, which has got approval from
the Minister of Law and Human Rights of the Republic Indonesia under number
C-28091 HT.01.01.TH.2003 dated 21 Novem- ber 2003 “Deed of Establishment”.
Annual Report 2016
PT. SMR Utama Tbk
7
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