PT Champion Pacific Indonesia Tbk dan entitas anaknyaand its subsidiaries

  PT Champion Pacific Indonesia Tbk

dan ent it as anaknya/ and it s subsidiaries

Laporan keuangan konsolidasian t anggal 31 Desember 2017

dan unt uk t ahun yang berakhir pada tanggal t ersebut

besert a laporan audit or independen/ Consolidat ed financial stat ement s as of December 31, 2017 and for the year t hen ended wit h independent auditors’ report

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

  PT CHAMPION PACIFIC INDONESIA TBK PT CHAMPION PACIFIC INDONESIA TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES

LAPORAN KEUANGAN KONSOLIDASIAN CONSOLIDATED FINANCIAL STATEMENTS

TANGGAL 31 DESEMBER 2017 AS OF DECEMBER 31, 2017

DAN UNTUK TAHUN YANG BERAKHIR PADA AND FOR THE YEAR THEN ENDED

  TANGGAL TERSEBUT WITH INDEPENDENT AUDITORS’ REPORT

  BESERTA LAPORAN AUDITOR INDEPENDEN Daftar Isi Table of Contents

  Halaman/

  

Page

  Laporan Auditor Independen

  Independent Auditors’ Report

  Laporan Posisi Keuangan Konsolidasian ......................... 1-2 ............. Consolidated Statement of Financial Position Laporan Laba-Rugi dan Penghasilan Komprehensif Consolidated Statement of Profit and Loss and

  Konsolidasian Lain .................................................... 3-4 ................................. Other Comprehensive Income Laporan Perubahan Ekuitas Konsolidasian ..................... 5 ............ Consolidated Statement of Changes in Equity Laporan Arus Kas Konsolidasian ..................................... 6 ....................... Consolidated Statement of Cash Flows Catatan Atas Laporan Keuangan Konsolidasian .............. 7-71 ......... Notes to the Consolidated Financial Statements Informasi Tambahan:

  Additional Information:

  Lampiran I/ Laporan Posisi Keuangan (Entitas Induk) ................ Attachment I ... Statements of Financial Position (Parent Entity) Laporan Laba Rugi dan Penghasilan Lampiran II/ Statements of Profit and Loss and

  Komprehensif Lain (Entitas Induk)................... Attachment II .. Other Comprehensive Income (Parent Entity)

  

Lampiran III/

  Laporan Perubahan Ekuitas (Entitas Induk) ............ Attachment III …Statements of Changes in Equity (Parent Entity)

  

Lampiran IV/

  Laporan Arus Kas (Entitas Induk) ............................ Attachment IV ............ Statements of Cash Flows (Parent Entity)

• ************************

  PT CHAMPION PACIFIC INDONESIA TBK PT CHAMPION PACIFIC INDONESIA TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES

LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF KONSOLIDASIAN FINANCIAL POSITION

Tanggal 31 Desember 2017 As of December 31, 2017

(Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

  

31 Desember/December 31

Catatan/

2017 Notes 2016

ASET

  ASSETS ASET LANCAR

CURRENT ASSETS

  2c,2d,2p,4,

Kas dan Setara Kas 142.747.568.453 26,27 103.689.388.913 Cash and Cash Equivalents

2c,2p,3,

Piutang Usaha - Pihak Ketiga 138.818.678.276 5,26,27 136.984.654.250 Trade Receivables - Third Parties

  

Piutang Lain-lain - Pihak Ketiga 733.405.973 2p,27 253.588.184 Other Receivables - Third Parties

Persediaan 106.859.235.186 2e,2l,3,6 111.926.303.398 Inventories

Pajak Dibayar di Muka 1.689.065.752 2k,12a 155.164.710 Prepaid Taxes

Biaya Dibayar di Muka dan

  Prepaid Expenses and Uang Muka 5.404.939.113 2f,7 8.495.636.153 Advances

Total Aset Lancar 396.252.892.753 361.504.735.608 Total Current Assets

ASET TIDAK LANCAR

NON-CURRENT ASSETS

  

Aset Tetap 86.389.049.329 2g,2l,3,8 70.591.030.568 Fixed Assets

Aset Tidak Lancar Lainnya 19.653.967.100 7 281.630.000 Other Non-Current Assets

  Estimated Claims Estimasi Tagihan Pajak 3.047.187.121 12a 1.217.948.596 for Refundable Tax

Aset Takberwujud 898.898.668 2n,9 898.898.668 Intangible Assets

Aset Pajak Tangguhan 6.780.596.603 2k,12c 4.971.429.856 Deferred Tax Assets

Total Aset Tidak Lancar 116.769.698.821 77.960.937.688 Total Non-Current Assets

TOTAL ASET 513.022.591.574 439.465.673.296 TOTAL ASSETS

  Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial

merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated financial

keuangan konsolidasian secara keseluruhan. statements taken as a whole.

  1

  PT CHAMPION PACIFIC INDONESIA TBK PT CHAMPION PACIFIC INDONESIA TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES

LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF KONSOLIDASIAN (lanjutan) FINANCIAL POSITION (continued)

Tanggal 31 Desember 2017 As of December 31, 2017

  

(Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

  

31 Desember/December 31

2016 Disajikan kembali, Catatan 32/ Catatan/ As restated,

  

2017 Notes Note 32

LIABILITAS LIABILITIES LIABILITAS JANGKA PENDEK

  CURRENT LIABILITIES 2c,2p,10,

Utang Usaha - Pihak Ketiga 52.416.665.052 26,27 46.385.920.164 Trade Payables - Third Parties

Utang Lain-lain - Pihak Ketiga 4.269.536.142 2p,11,27 4.126.164.281 Other Payables - Third Parties

Utang Pajak 2.375.727.815 2k,12d 10.404.756.028 Taxes Payable

Beban Akrual 1.879.338.191 2p,13,27 1.434.041.480 Accrued Expenses

Total Liabilitas Jangka Pendek 60.941.267.200 62.350.881.953 Total Current Liabilities

LIABILITAS JANGKA PANJANG

NON-CURRENT LIABILITIES

  

Imbalan Kerja 10.134.575.231 2j,3,14 3.365.755.813 Employee Benefits

TOTAL LIABILITAS 71.075.842.431 65.716.637.766 TOTAL LIABILITIES

EKUITAS

  EQUITY Ekuitas Yang Dapat Diatribusikan

  Equity Attributable to Owner of kepada Pemilik Entitas Induk the Parent Entity

  Modal Saham - Nilai Nominal

  16 Capital Stock - Par Value of Rp50 per saham Rp50 per Share

  Modal Dasar - 1.750.000.000 Authorized Capital -

  Saham 1,750,000,000 shares

  Modal Ditempatkan dan Disetor Issued and Fully Paid Capital - Penuh - 972.204.500 saham

  972,204,500 shares as of pada 31 Desember 2017

  December 31, 2017 dan 31 Desember 2016 48.610.225.000 48.610.225.000 and December 31, 2016

Tambahan Modal Disetor 29.000.000 29.000.000 Additional Paid In Capital

Selisih Transaksi Dengan 2b,15, Difference in Transaction with

Kepentingan Non-Pengendali 28.630.140.459

  32 28.630.140.459 Non-Controlling Interest Selisih Transaksi Perubahan Difference in Transaction Concerning

  Ekuitas Entitas Anak 29.357.108 2b,17 29.357.108 Equity Change of Subsidiary Saldo Laba Retained Earnings

  Ditentukan Penggunaannya 4.318.916.621 24 3.851.131.707 Appropriated Belum Ditentukan Penggunaannya 233.982.611.198 186.325.678.801 Unappropriated

• Pendapatan Komprehensif Lainnya (216.725.457) Other Comprehensive Income

  

Total 315.383.524.929 267.475.533.075 Total

Kepentingan Non-Pengendali 126.563.224.214 2b,15 106.273.502.455 Non-Controlling Interest

TOTAL EKUITAS 441.946.749.143 373.749.035.530 TOTAL EQUITY

TOTAL LIABILITAS DAN EKUITAS 513.022.591.574 439.465.673.296 TOTAL LIABILITIES AND EQUITY

  Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial

merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated financial

keuangan konsolidasian secara keseluruhan. statements taken as a whole.

  2

  PT CHAMPION PACIFIC INDONESIA TBK PT CHAMPION PACIFIC INDONESIA TBK DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN LABA RUGI DAN CONSOLIDATED STATEMENT

KOMPREHENSIF LAIN KONSOLIDASIAN OF PROFIT AND LOSS AND OTHER

Untuk Tahun yang Berakhir pada Tanggal

  COMPREHENSIVE INCOME

  31 Desember 2017 dan 2016 For the Year Ended December 31, 2017 and 2016

  (Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

  

Tahun yang Berakhir pada tanggal 31 Desember/

Year Ended December 31,

  

Catatan/

2017 Notes 2016

PENJUALAN NETO 761.926.952.217 2i,18 792.794.834.768 NET SALES

BEBAN POKOK PENJUALAN 632.967.231.181 2i,19 651.717.629.066 COST OF GOODS SOLD

LABA KOTOR 128.959.721.036 141.077.205.702 GROSS PROFIT

BEBAN USAHA

  OPERATING EXPENSES

Beban Usaha (44.482.583.309) 2i,20 (47.358.900.800) Operating Expenses

Pendapatan Lainnya 7.324.639.012 2i,21a 4.516.900.972 Other Income

Beban Lainnya (81.365.329) 2i,21b (4.896.861.536) Other Expenses

LABA USAHA 91.720.411.410 93.338.344.338 OPERATING INCOME

Pendapatan Keuangan 4.886.017.871 2i 3.216.387.770 Financial Income

Beban Keuangan (841.638.218) 2i (780.144.091) Financial Expenses

LABA SEBELUM PAJAK PENGHASILAN 95.764.791.063 95.774.588.017

  INCOME BEFORE INCOME TAX MANFAAT (BEBAN) PAJAK

  INCOME TAX BENEFITS PENGHASILAN (EXPENSES)

  

Pajak Kini (25.100.557.500) 2k,12b (25.929.032.000) Current Tax

Pajak Tangguhan 1.712.449.573 2k,12c (539.926.222) Deferred Tax

Total Beban Pajak

Penghasilan (23.388.107.927) (26.468.958.222) Total Income Tax Expenses

LABA TAHUN BERJALAN 72.376.683.136 69.305.629.795

  INCOME FOR THE YEAR PENDAPATAN OTHER

  KOMPREHENSIF LAIN - COMPREHENSIVE INCOME-

  SETELAH PAJAK PENGHASILAN NET OF INCOME TAX

  Pos-pos Yang Tidak Akan Items That Will Not Be

  Direklasifikasi ke Laba Rugi: Reclassified to Profit And Loss: Pengukuran Kembali

  Remeasurements Kewajiban Imbalan on Defined Benefits

  Pasti (386.868.697) 2j,14 6.004.190.633 Obligation Pajak Tangguhan Terkait 96.717.174 2j,12c (1.501.047.658) Related Deffered Tax

Total (290.151.523) 4.503.142.975 Total

TOTAL LABA KOMPREHENSIF

  TOTAL COMPREHENSIVE TAHUN BERJALAN 72.086.531.613 73.808.772.770

  INCOME FOR THE YEAR Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial

merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated financial

keuangan konsolidasian secara keseluruhan. statements taken as a whole.

  3

  PT CHAMPION PACIFIC INDONESIA TBK PT CHAMPION PACIFIC INDONESIA TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES

LAPORAN LABA RUGI DAN CONSOLIDATED STATEMENT KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan) OF PROFIT AND LOSS AND OTHER

Untuk Tahun yang Berakhir pada Tanggal COMPREHENSIVE INCOME (continued)

  31 Desember 2017 dan 2016 For the Year Ended December 31, 2017 and 2016

(Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

Tahun yang Berakhir pada tanggal 31 Desember/

  

Year Ended December 31,

Catatan/

2017 Notes 2016

TOTAL LABA TAHUN BERJALAN YANG DAPAT

  ATTRIBUTABLE TO:

Pemilik Entitas Induk 52.013.535.311 46.778.491.362 Equity Holders of The Parent Entity

Kepentingan Non-Pengendali 20.363.147.825 2b,15 22.527.138.433 Non Controlling Interest

Total 72.376.683.136 69.305.629.795 Total

TOTAL LABA KOMPREHENSIF

YANG DAPAT

TOTAL COMPREHENSIVE

  INCOME ATTRIBUTABLE TO:

Pemilik Entitas Induk 51.796.809.854 49.075.094.279 Equity Holders of The Parent Entity

Kepentingan Non-Pengendali 20.289.721.759 24.733.678.491 Non Controlling Interest

Total 72.086.531.613 73.808.772.770 Total

LABA TAHUN BERJALAN

  BASIC AND DILUTED PER SAHAM DASAR EARNINGS FOR THE YEAR DAN DILUSIAN YANG DAPAT

  PER SHARE ATTRIBUTABLE DIATRIBUSIKAN KEPADA

TO EQUITY HOLDERS

  PEMILIK ENTITAS INDUK 53,50 2m,23

  48.12 OF THE PARENT ENTITY Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial

merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated financial

keuangan konsolidasian secara keseluruhan. statements taken as a whole.

  4

PT CHAMPION PACIFIC INDONESIA TBK

  PT CHAMPION PACIFIC INDONESIA TBK DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

  Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2017 dan 2016 For the Year Ended December 31, 2017 and 2016 (Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

  Ekuitas Yang Dapat Diatribusikan kepada Pemilik Induk/Equity Attributable to Owner of the Parent Entity Selisih Transaksi Perubahan Selisih Modal Ekuitas Entitas Transaksi Ditempatkan Anak/ Dengan Kepentingan dan Disetor Difference In Non-Pengendali/ Saldo Laba/Retained Earnings Pendapatan Penuh/Issued Tambahan Transaction Difference in Komprehensif Kepentingan Non- and Fully Paid Modal Disetor/ Concerning Transaction with Ditentukan Belum Ditentukan Lainnya/Other Pengendali/ Catatan/ of Capital Additional Paid Equity Change Non-Controlling Penggunaannya/ Penggunaannya/ Comprehensive Total Ekuitas/ Non-Controlling Total Ekuitas/ Notes Stock In Capital of Subsidiary Interest Appropriated Unappropriated Income Total Equity Interest Total Equity

  

Saldo per 31 Desember 2015 48.610.225.000 29.357.108 3.549.088.896 - - 144.710.252.750 (2.296.602.917) 194.602.320.837 115.861.937.626 310.464.258.463 Balance as of December 31, 2015

• 24
• (302.042.
• General Reserve - - 302.042.811 - Dana Cadangan - Aset Pengampunan Pajak 29.000.000

  29.000.000 29.000.000 - - - - - - Tax Amnesty Asset -

  Dividen

  24 (4.861.022.500) (4.861.022.500) (5.691.973.203) (10.552.995.703) - - - - - -

  Dividend Selisih Transaksi Dengan

  Difference in Transaction Kepentingan Non-Pengendali with Non-Controlling Interest

  (Disajikan kembali) 32 - 28.630.140.459 28.630.140.459 (28.630.140.459) - - (As restated) - - - -

  Keuntungan Aktuarial Actuarial Gain on

• atas Program Imbalan Pasti 2j,14

  2.296.602.917 2.206.540.058 - 2.296.602.917 - - - - 4.503.142.975 Defined Benefit Pension Plan Laba Tahun Berjalan

  46.778.491.362 46.778.491.362 22.527.138.433 - -

  69.305.629.795 Income for The Year

• - Saldo per 31 Desember 2016

  Balance as of December 31, 2016

(Disajikan kembali) 48.610.225.000 29.000.000 29.357.108 28.630.140.459 3.851.131.707 186.325.678.801 267.475.533.075 106.273.502.455 373.749.035.530 (As restated)

  Dana Cadangan

• 24
• 467.784.914 (467.784.914) - - -

  General Reserve - -

  24 (3.888.818.000) (3.888.818.000) (3.888.818.000) - Dividend - - - - - - Dividen Kerugian Aktuarial

  Actuarial Loss on atas Program Imbalan Pasti 2j,14

  (216.725.457) - (216.725.457) (290.151.523) - (73.426.066) - - -

  Defined Benefit Pension Plan - Laba Tahun Berjalan

  52.013.535.311 52.013.535.311 20.363.147.825 72.376.683.136 - - - - - - Income for The Year

  

Saldo per 31 Desember 2017 48.610.225.000 29.000.000 29.357.108 28.630.140.459 4.318.916.621 233.982.611.198 (216.725.457) 315.383.524.929 126.563.224.214 441.946.749.143 Balance as of December 31, 2017

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial

keuangan konsolidasian secara keseluruhan. statements taken as a whole.

  5

  PT CHAMPION PACIFIC INDONESIA TBK PT CHAMPION PACIFIC INDONESIA TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES

LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT Untuk Tahun yang Berakhir pada Tanggal OF CASH FLOWS

  31 Desember 2017 dan 2016 For the Year Ended December 31, 2017 and 2016

(Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

  

31 Desember/December 31

Catatan/

2017 Notes 2016

ARUS KAS DARI AKTIVITAS

CASH FLOWS FROM OPERATING OPERASI

  ACTIVITIES

Penerimaan dari Pelanggan 766.624.611.414 783.764.139.231 Cash Received from Customers

Pembayaran kepada Pemasok (557.269.678.662) (597.502.939.847) Cash Paid to Suppliers

Pembayaran kepada Karyawan (69.695.366.134) (85.274.811.266) Cash Paid to Employees

Penerimaan Bunga 4.372.989.641 3.234.107.895 Interest Receipts

Pembayaran Bunga (841.638.218) (780.144.091) Interest Payment

Pembayaran Pajak Penghasilan (33.389.113.795) (20.320.848.027) Cash Paid for Taxes

Pembayaran Surat Ketetapan Pajak

  Cash Paid for Tax Underpayment Kurang Bayar (2.217.058) 12e (293.034.801) Assessment Letter Pembayaran Beban

  Cash Paid for Other Operational Operasional Lainnya (21.699.528.100) (19.108.730.369) Expenses

  Arus Kas Bersih Diperoleh dari Net Cash Flows Provided by

   Aktivitas Operasi 88.100.059.088 63.717.738.725 Operating Activities ARUS KAS DARI CASH FLOWS FROM AKTIVITAS INVESTASI

INVESTING ACTIVITIES

  

Perolehan Aset Tetap (25.718.580.587) 8,28 (14.020.123.140) Acquisition of Fixed Assets

Pembayaran Uang Muka Advance Payment for Purchase

  Pembelian Aset Tetap (19.653.967.100) 7 of Fixed Assets - Proceeds from Sale

  Hasil Penjualan Aset Tetap 136.459.000 8 661.698.545 on Fixed Assets Arus Kas Bersih Digunakan Untuk

  Net Cash Flows Used in Aktivitas Investasi (45.236.088.687) (13.358.424.595) Investing Activities ARUS KAS DARI

  CASH FLOWS FROM AKTIVITAS PENDANAAN

FINANCING ACTIVITIES

  Payment of Pembayaran Dividen Perusahaan (3.875.637.192) 24,11 (4.844.546.490) the Company's Dividend Pembayaran Dividen Entitas Anak

  Payment of Subsidiaries's kepada Pemegang Saham

  Dividend to Non-Controlling 24 (5.691.973.203) - Non Pengendali

  Interest Arus Kas Bersih Digunakan untuk

  Net Cash Flows Used in Aktivitas Pendanaan (3.875.637.192) (10.536.519.693) Financing Activities KENAIKAN KAS

  INCREASE IN CASH

DAN SETARA KAS 38.988.333.209 39.822.794.437 AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS KAS DAN SETARA KAS AT THE BEGINNING

AWAL TAHUN 103.689.388.913 64.275.870.695 OF THE YEAR

EFFECTS OF FOREIGN DAMPAK PERUBAHAN KURS

  EXCHANGE RATE CHANGES TERHADAP KAS

ON CASH AND CASH

  

DAN SETARA KAS 69.846.331 (409.276.219) EQUIVALENTS

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

AKHIR TAHUN 142.747.568.453 103.689.388.913 AT THE END OF THE YEAR

  Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial

merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated financial

keuangan konsolidasian secara keseluruhan. statements taken as a whole.

  PT CHAMPION PACIFIC INDONESIA TBK DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2017 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam Rupiah, kecuali dinyatakan lain) PT CHAMPION PACIFIC INDONESIA TBK AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

  As of December 31, 2017 and for the Year Then Ended (Expressed in Rupiah, unless otherwise stated)

1. UMUM

  1. GENERAL

a. Pendirian dan Informasi Umum

  27 Juni 1978, serta diumumkan dalam Lembaran Berita Negara Republik Indonesia No. 473 tanggal 1 Agustus 1978 Tambahan No. 61.

  PT Champion Pacific Indonesia Tbk (the Entity), formerly PT Kageo Igar Jaya Tbk, was established under the name of PT Igar Jaya Tbk based on notarial deed No. 195 dated October 30, 1975, of Mohamad Said Tadjoedin, S.H., notary in Jakarta. The deed of establishment was approved by Minister of Justice of Republic of Indonesia in his Decree No. Y.A.5/215/9 dated June 27, 1978 and published in the State Gazette No. 473 dated August 1, 1978 Supplement No. 61.

  Anggaran dasar Entitas telah mengalami beberapa kali perubahan, terakhir berdasarkan akta No. 253 tanggal 25 Maret 2015 dari notaris Dr. Irawan Soerodjo, S.H., Msi., tentang perubahan susunan Dewan Komisaris Entitas dari 3 (tiga) menjadi 2 (dua) orang dan masa jabatan Dewan Direksi Entitas dari 3 (tiga) menjadi 5 (lima) tahun. Akta perubahan ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan surat No. AHU-0004736.AH.01.02.TAHUN 2015 tanggal 25 Maret 2015.

  The Entity's articles of association has been amended for several times, most recently by notarial deed No. 253 dated March 25, 2015 from notary Dr. Irawan Soerodjo, S.H., Msi., related to changes of Board of Commisioners' composition from 3 (three) to 2 (two) persons and length of service of Board of Directors from 3 (three) to 5 (five) years. This change was approved by the Minister of Law and Human Rights of Republic of Indonesia by letter No. AHU-0004736.AH.01.02.TAHUN 2015 dated March 25, 2015.

  PT Champion Pacific Indonesia Tbk (Entitas), d.h PT Kageo Igar Jaya Tbk, didirikan dengan nama PT Igar Jaya Tbk berdasarkan akta No. 195 tanggal 30 Oktober 1975 dari Mohamad Said Tadjoedin, S.H., notaris di Jakarta. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia dengan Surat Keputusannya No. Y.A.5/215/9 tanggal

  The Entity is domiciled at Jalan Raya Sultan Agung Km. 28.5, Bekasi.

  Sesuai dengan pasal 3 anggaran dasar Entitas, ruang lingkup kegiatan Entitas terutama bergerak dalam bidang industri wadah yang digunakan untuk keperluan industri farmasi, makanan dan kosmetika, perdagangan umum (secara impor, ekspor, lokal serta antar pulau), pengangkutan (perbengkelan, ekspedisi dan pergudangan), percetakan, perwakilan dan/atau peragenan, pekerjaan teknik dan jasa atau pelayanan.

  In accordance with article 3 of the Entity’s Articles of Association, the Entity engages in the manufacture of plastic products for pharmaceutical, food and cosmetic industries, trading (import, export, local and inter island), transportation (workshop, expedition and warehousing), printing, agency, technical and services.

  Entitas memulai kegiatan komersialnya sejak tahun 1977 dan saat ini Entitas hanya menghasilkan pendapatan dari entitas anak.

  The Entity has started its commercial activities since 1977 and currently, the Entity only generates revenues from its subsidiaries.

  PT Kingsford Holdings merupakan entitas induk mayoritas dalam kelompok usaha Entitas.

  PT Kingsford Holdings is the majority parent in the Entity’s group.

  a. Establishment and General Information

  Entitas berdomisili di Jalan Raya Sultan Agung Km. 28,5, Bekasi.

  

PT CHAMPION PACIFIC INDONESIA TBK PT CHAMPION PACIFIC INDONESIA TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES

CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED

KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS

Tanggal 31 Desember 2017 dan untuk As of December 31, 2017 and Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended

  

(Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

1. UMUM (lanjutan)

  1. GENERAL (continued)

b. Dewan Komisaris, Direksi, Komite Audit,

  b. Board of Commissioner, Board of Director, Sekretaris Entitas dan Karyawan

  Audit Committee, Corporate Secretary and Employees The composition of the Entity's Board of

  Susunan Dewan Komisaris dan Direksi Entitas pada tanggal 31 Desember 2017 sesuai Commissioners and Directors as of dengan akta No. 139 tanggal 22 Mei 2017 oleh December 31, 2017 in regards of notarial deed notaris Dr. Irawan Soerodjo, SH., Msi., yang No. 139 dated May 22, 2017 of notary didasarkan pada Rapat Umum Pemegang Dr. Irawan Soerodjo, S.H., Msi., based on an Saham Luar Biasa adalah sebagai berikut: Extraordinary Shareholders meeting are as

  follows:

  31 Desember 2017/December 31, 2017 Dewan Komisaris Board of Commissioner

  Komisaris Utama Ir. Budi Dharma Wreksoatmodjo President Commissioner Komisaris Hisashi Onozuka Commissioner Komisaris Independen Prastowo Independent Commissioner Direksi

  Board of Director Direktur Utama Antonius Muhartoyo President Director Direktur Hiroshi Komori Director Direktur Haruo Sugiyama Director Direktur Sumio Matsumoto Director Direktur Independen Vera Sutidjan Independent Director

  Susunan Dewan Komisaris dan Direksi Entitas The composition of the Entity's Board of pada tanggal 31 Desember 2016 sesuai Commissioners and Directors as of dengan akta No. 308 tanggal 20 Desember December 31, 2016 in regards of notarial deed 2016 oleh notaris Dr. Irawan Soerodjo, S.H., No. 308 dated December 20, 2016 of notary Msi., yang didasarkan pada Rapat Umum Dr. Irawan Soerodjo, S.H., Msi., based on an Pemegang Saham Luar Biasa adalah sebagai Extraordinary Shareholders meeting are as berikut:

  follows:

  31 Desember 2016/December 31, 2016 Dewan Komisaris Board of Commissioner

  Komisaris Utama Ir. Budi Dharma Wreksoatmodjo President Commissioner Komisaris Fumio Okazaki Commissioner Komisaris Independen Prastowo Independent Commissioner Direksi

  Board of Director Direktur Utama Antonius Muhartoyo President Director Direktur Hiroshi Komori Director Direktur Haruo Sugiyama Director Direktur Sumio Matsumoto Director Direktur Independen Vera Sutidjan Independent Director

  Susunan Komite Audit pada 31 Desember 2017 Board of Audit Committee as of December 31, dan 2016 adalah sebagai berikut: 2017 and 2016 are as follows:

  31 Desember 2017/31 Desember 2016/ December 31, 2017/December 31, 2016

  Ketua Prastowo Chairman Anggota Gracy Indriani Member Anggota Dianawati Sugiarto Member

  PT CHAMPION PACIFIC INDONESIA TBK DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2017 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam Rupiah, kecuali dinyatakan lain) PT CHAMPION PACIFIC INDONESIA TBK AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

  As of December 31, 2017 and for the Year Then Ended (Expressed in Rupiah, unless otherwise stated)

1. UMUM (lanjutan)

  1. GENERAL (continued)

  b. Dewan Komisaris, Direksi, Komite Audit, Sekretaris Entitas dan Karyawan (lanjutan)

  b. Board of Commissioner, Board of Director, Audit Committee, Corporate Secretary and Employees (continued)

  Kepala Audit Internal dan Sekretaris Entitas pada 31 Desember 2017 dan 2016 adalah Joseph Charles A.S dan Bogi Dhina Aryanti.

  Head of Internal Audit and Corporate Secretary as of December 31, 2017 and 2016 is Joseph Charles A.S and Bogi Dhina Aryanti.

  Pada 31 Desember 2017 dan 2016, Entitas dan entitas anak (“Grup”) memiliki 455 dan 424 masing-masing karyawan (tidak diaudit).

  As of December 31, 2017 and 2016, the Entity and subsidiaries (“the Group”) have 455 and 424 employees, respectively (unaudited).

  c. Struktur Entitas Anak

  c. Subsidiaries’ Structure

  Entitas memiliki, baik langsung maupun tidak langsung, lebih dari 50% saham entitas anak sebagai berikut:

  The Entity has ownership interest of more than 50%, directly or indirectly, in the following subsidiaries:

   Kegiatan Utama Presentase Tahun Operasi Total Aset/Total Assets Usaha/ Kepemilikan/ Komersial/Year

Entitas Anak/ Domisili/ Main Business Precentage Of Of Commercial 2017 2016

Subsidiaries Domicile Activity Ownership Operation (Rp 000) (Rp 000)

PT Avesta Continental Pack (Avesta) Bekasi, Jawa Barat Kemasan/Packing 76,47 1976 507.748.795 429.735.638 PT Indogravure (Indogravure)* Tangerang, Banten Kemasan/Packing 61,49 1985 189.256.331 155.785.605

• ) Entitas anak yang dimiliki secara tidak langsung melalui Avesta. Tahun 2016 kepemilikan tidak langsung Entitas Induk pada Indogravure mengalami kenaikan sebesar 22,49% dari yang sebelumnya sebesar 39% seiring dengan kenaikan kepemilikan Avesta pada Indogravure pada tahun 2016 yang semula sebesar 51% menjadi 80,4%.
• *) Subsidiary which is indirectly owned through Avesta. In 2016 indirect ownership of Parent Entity to Indogravure increased by 22.49% from prior ownership by 39% inline with Avesta's ownership in Indogravure in 2016 from 51% become 80.4%.

  In these Consolidated Financial Statements, the Entity and its subsidiary are collectively referred as the “Group”.

  d. Pencatatan Saham Entitas

  d. Listing of the Entity’s Shares

  Ringkasan pencatatan saham Entitas yang diterbitkan sejak tanggal penawaran umum perdana saham sampai dengan 31 Desember 2017 adalah sebagai berikut:

  A summary of the listing of the Entity’s shares from the date of the initial public offering up to December 31, 2017 is as follows:

  Aktivitas Pencatatan Saham Total Saham/ Listing Activities of the Entity's Entitas Number of Shares Tanggal/Date Share Penawaran Umum Perdana dan Pencatatan Sebagian Saham

  Initial Public Offering and Partial Entitas 3.500.000

  29 Oktober 1990/ Listing of the Entity’s Shares Bursa Efek Jakarta October 29, 1990 Jakarta Stock Exchange Bursa Efek Surabaya

  5 Nopember 1990/ Surabaya Stock Exchange November 5, 1990

  Pencatatan Saham Tambahan Additional Listing of the Entity's

  Entitas 5.250.000

  19 Mei 1992/ Shares of Stock Bursa Efek Jakarta May 19, 1992 Jakarta Stock Exchange Bursa Efek Surabaya

  21 September 1992/ Surabaya Stock Exchange September 21,1992

  Dalam laporan keuangan konsolidasian ini Entitas dan entitas anak secara bersama- sama disebut sebagai “Grup”.

  PT CHAMPION PACIFIC INDONESIA TBK DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2017 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam Rupiah, kecuali dinyatakan lain) PT CHAMPION PACIFIC INDONESIA TBK AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

  As of December 31, 2017 and for the Year Then Ended (Expressed in Rupiah, unless otherwise stated)

1. UMUM (lanjutan)

d. Pencatatan Saham Entitas (lanjutan)

  The consolidated financial statements have been prepared and presented in accordance with Indonesian Financial Accounting Standards (“SAK”), which comprise the Statements of Financial Accounting Standards (“PSAK”) and Interpretations to Financial Acccounting Standards (“ISAK”) issued by the Financial Accounting Standards Board of the Indonesian Institute of Accountants, and Rule No. VIII.G.7 Attachment of Chairman of BAPEPAM’s Decision No. KEP-347/BL/2012 dated June 25, 2012 on the Regulations and the Guidelines on Financial Statement Presentation and Disclosures issued by Capital Market and Financial Institution Supervisory Agency (“BAPEPAM-LK”, which function has been transferred to OJK starting on January 1, 2013). These policies have been consistently applied to all years presented, unless otherwise stated.

  25 Juni 2012 yang terdapat di dalam Peraturan dan Pedoman Penyajian dan Pengungkapan Laporan Keuangan yang diterbitkan oleh Badan Pengawas Pasar Modal dan Lembaga Keuangan (“BAPEPAM-LK”, yang fungsinya dialihkan kepada OJK sejak tanggal 1 Januari 2013). Kebijakan ini telah diterapkan secara konsisten terhadap seluruh tahun yang disajikan, kecuali jika dinyatakan lain.

  Laporan keuangan konsolidasian telah disusun dan disajikan sesuai dengan Standar Akuntansi Keuangan di Indonesia (“SAK”), yang mencakup Pernyataan Standar Akuntansi Keuangan (“PSAK”) dan Interpretasi Standar Akuntansi Keuangan (“ISAK”) yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia, serta Peraturan No. VIII.G.7 Lampiran Keputusan Ketua BAPEPAM No. KEP-347/BL/2012 tanggal

  a. Basis of preparation of the consolidated financial statements

  2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  On December 31, 2017 and 2016, the Entity’s shares totaling 972,204,500 were listed on the Indonesia Stock Exchange.

  Pada 31 Desember 2017 dan 2016, saham Entitas sebanyak 972.204.500 lembar saham tercatat di Bursa Efek Indonesia.

  30 Juli 2013/ of The Entity through Reacquired July 30, 2013

  Pengurangan Modal Ditempatkan dan Disetor Entitas Decrease in Issued and Paid-in Capital melalui Penarikan 77.795.500

  16 Agustus 1999/ Rp1,000 to Rp50 per Share August 16, 1999

  Stock Split from par value of per Saham 1.050.000.000

  Pemecahan Saham dari Nilai Nominal Rp1.000 per Saham menjadi Rp50

  7 Juli 1995/ Surabaya Stock Exchange July 7, 1995

  Bursa Efek Surabaya

  12 Juli 1995/ Jakarta Stock Exchange July 12, 1995

  Penawaran Umum Terbatas 35.000.000 Limited Public Offering Bursa Efek Jakarta

  24 Nopember 1993/ Surabaya Stock Exchange November 24, 1993

  Bursa Efek Surabaya

  1 Desember 1993/ Jakarta Stock Exchange December 1, 1993

  Pembagian Saham Bonus 7.000.000 Stock Bonus Bursa Efek Jakarta

  23 Agustus 1993/ Surabaya Stock Exchange August 23, 1993

  Bursa Efek Surabaya

  24 Agustus 1993/ Jakarta Stock Exchange August 24, 1993

  Pembagian Dividen Saham 1.750.000 Stock Dividend Bursa Efek Jakarta

  d. Listing of the Entity’s Shares (continued) Aktivitas Pencatatan Saham Total Saham/ Listing Activities of the Entity's Entitas Number of Shares Tanggal/Date Share

  1. GENERAL (continued)

2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING

a. Dasar penyusunan laporan keuangan konsolidasian

  PT CHAMPION PACIFIC INDONESIA TBK DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2017 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam Rupiah, kecuali dinyatakan lain) PT CHAMPION PACIFIC INDONESIA TBK AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

  As of December 31, 2017 and for the Year Then Ended (Expressed in Rupiah, unless otherwise stated)

2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING (lanjutan)

  a. Basis of preparation of the consolidated financial statements (continued)

  b. Principles of consolidation

  c. power to appoint or remove the majority of the members of the board of directors or equivalent governing body and control of the entity is by that board or body; or

  c. kekuasaan untuk menunjuk atau mengganti sebagian besar direksi atau organ pengatur setara dan mengendalikan entitas melalui direksi atau organ tersebut; atau

  b. power to govern the financial and operating policies of the entity under a statute or an agreement;

  b. kekuasaan yang mengatur kebijakan keuangan dan operasional entitas berdasarkan anggaran dasar atau perjanjian;

  a. power over more than half of the voting rights by virtue of an agreement with other investors;

  a. kekuasaan yang melebihi setengah hak suara sesuai perjanjian dengan investor lain;