AR MDRN Compiled 2016

Sanggahan

dan batasan

tanggungjawab

Laporan tahunan ini memuat pernyataan kondi-si keuangan, hakondi-sil operakondi-si, proyekkondi-si, rencana, strategi, kebijakan, serta tujuan Perseroan, yang digolongkan sebagai pernyataan ke depan da-lam pelaksanaan Perundang-undangan yang ber-laku, kecuali hal-hal yang bersifat historis. Per-nyataan-pernyataan tersebut memiliki prospek risiko, ketidakpastian, serta dapat mengakibatkan perkembangan aktual secara material berbeda dari yang dilaporkan.

Pernyataan-pernyataan prospektif dalam laporan tahunan ini dibuat berdasarkan berbagai asumsi mengenai kondisi terkini dan kondisi mendatang Perseroan serta lingkungan bisnis di mana Perse-roan menjalankan kegiatan usaha. PersePerse-roan tidak menjamin bahwa dokumen-dokumen yang telah dipastikan keabsahannya akan membawa ha-sil-hasil tertentu sesuai harapan. Laporan tahunan ini memuat kata ฀Kami฀, ฀Perseroan฀, dan ฀MDRN฀ yang didefinisikan sebagai PT Modern Internasion -al Tbk yang menj-alankan bisnis d-alam bidang Con-venience Store, Medical, Teknologi Informasi, dan lainnya (seperti penyediaan plate, mesin TP, mesin cetak digital, solusi cetak digital, solusi kreatif, dan telekomunikasi) melalui penyertaan pada Entitas Anak. Adakalanya kata ฀Perusahaan฀ juga digu -nakan atas dasar kemudahan untuk menyebut PT Modern Internasional Tbk secara umum.

This annual report contains financial condition, opera-tion results, projecopera-tions, plans, strategies, policy, as well as the Company’s purpose, which is classified as for-ward-looking statements in the implementation of the applicable laws, excluding historical matters. Such for-ward-looking statements are subject to known and un-known risks (prospective), uncertainties, and other fac-tors that could cause actual results to differ materially from expected results.

Prospective statements in this annual report are pre-pared based on numerous assumptions concerning cur-rent conditions and future events of the Company and the business environment where the Company conducts business. The Company shall have no obligation to guar-antee that the entire valid document presented will bring specific results as expected. This annual report contains the word "Company" and "MDRN", hereinafter referred to PT Modern Internasional Tbk, as the company that runs business in Convenience Store, medical, Information Technology, and others (provision of plate, TP machines, digital printing machines, digital printing solutions, cre-ative solutions, and telecommunications) through

in-vestment in Subsidiaries. The word ฀Perusahaan฀ is at

times used to simply refer to PT Modern Internasional Tbk in general.

3

PT Modern Internasional Tbk

DA F TA R I S I

TA B L E O F

C O N T E N T

Kilas Kinerja 2016

Flashback Performance of 2016

Rekam Jejak Perusahaan

Milestone

Peristiwa Penting 2016 2016 Event Highlights

Ikhtisar Data Keuangan Penting

Financial Highlights

Grafik Ikhtisar Data Keuangan

Penting

Chart of Financial Data Highlights

Ikhtisar Saham

Stock Highlights

Laporan Manajemen

Management Report

Laporan Dewan Komisaris

Board of Commissioners Report

Laporan Direksi

Board of Directors Report

Proil Perusahaan

Company Proile

Sekilas Perusahaan Company at a Glance

Riwayat Singkat Perusahaan

Company in Brief Bidang Usaha

Company’s Line of Business

Visi dan Misi

Company’s Vision and Mission Struktur Organisasi Organization Structure

Profil Dewan Komisaris

Board of Commissioners Profile

Profil Direksi

Board of Directors Profile

Sumber Daya Manusia

Human Resources

Struktur Grup Perusahaan Company Group Structure

Komposisi Pemegang Saham

Shareholders Composition

Kronologis Pencatatan Saham di Bursa Efek Indonesia

Share Listing Chronology in Indonesian Stock Exchange

Lembaga Profesi Penunjang Pasar

Modal

Information of Institution And Supporting Profession For Capital Market

Entitas Anak Subsidiaries

Penghargaan dan Sertifikasi Awards and Certifications

Analisis dan Pembahasan Manajemen

Management Discussion and Analysis Tinjauan Umum

General Overview

Tinjauan Industri

Industry Overview

Tinjauan Operasi Per Segmen Usaha Operational Overview Per Business Sector

Uraian atas Kinerja Keuangan Perseroan

Description on the Company’s Financial Performance

Ikhtisar Data Keuangan Penting (dalam Rupiah)

Important Financial Highlights (in Rupiah) Aset Assets Ekuitas Equity Arus Kas Cash Flow

Kemampuan Membayar Hutang Perseroan

Solvency

Prospek Usaha Perseroan The Company’s Business Prospect Aspek Pemasaran

Marketing Aspects

Jaringan Pemasaran

Marketing Network

Kebijakan dan Pembayaran Dividen Tunai

Policies and Cash Dividend

Realisasi Penggunaan Dana Hasil Penawaran

Umum

Use of Proceeds from Public Offering

Transaksi yang Mengandung Benturan Kepentingan dan Transaksi dengan Pihak yang Memiliki Hubungan Istimewa

(Afiliasi)

Transaction Containing Conflict of Interests and Transaction with Affiliate Parties

4

PT Modern Internasional Tbk

Annual Report 2016

6 8 10 11 13 15 16 18 22 29 30 31 33 44 45 46 48 52 58 59 60 61 62 62 64 66 67 68 74 75 76 78 80 81 84 89 95 96 97 97

5

PT Modern Internasional Tbk

Annual Report 2016

Tata Kelola Perusahaan

Good Corporate Governance

Gambaran Umum Tata Kelola Perusahaan

Overview of the Good Corporate Governance

Roadmap GCG

GCG Roadmap

Struktur Tata Kelola

Governance Structure

Rapat Umum Pemegang Saham (RUPS)

General Meeting of Shareholders (GMS)

Dewan Komisaris

Board of Commissioners

Direksi

Board of Directors

Kebijakan Remunerasi Direksi

Policy on Remuneration of the Board of Directors

Komite Audit Audit Committee Sekretaris Perusahaan Corporate Secretary Manajemen Risiko Risk Management

Unit Audit Internal

Internal Audit Unit Akuntan Perseroan Corporate Accountant

Sistem Pengendalian Internal

Internal Control System

Kepatuhan Pajak

Tax Compliance

Kasus Litigasi dan Perkara Penting

Litigation and Important Case

Akses Informasi dan Data

Access of Information and Data

Kode Etik dan Budaya Perusahaan

Code of Conduct and Corporate Culture Sistem Pelaporan Pelanggaran Whistleblowing System

Informasi Sanksi Administratif

Information of Administrative Sanction Tanggung jawab Sosial Perusahaan COrporate Social Responsibility

Tanggung Jawab Ketenagakerjaan, Kesehatan dan Keselamatan Kerja

Responsibilities of Employment, Health and Safety

Tanggung Jawab Terhadap Pelanggan

Responsibility to Customers Tanggung Jawab Hukum Perseroan Corprate Legal Responsibility

98 100 103 104 104 107 111 114 115 125 127 135 138 138 141 141 142 142 143 144 144 146 147 148

kilas

kinerja

2016

2016

flashback

R E K A M J E JA K

P E RU S A H A A N

M I L E S TO N E

Perubahan nama Perseroan menjadi

PT Modern Photo Tbk. Penun -jukkan sebagai distributor

Tunggal RICOH untuk per -alatan solusi dokumen dan

fotokopi di Indonesia.

Company’s name changed into PT Modern Photo Tbk. Appointed as Sole Distributor for RICOH doc-ument solutions equipment and

photocopy in Indonesia.

1988

Pendirian Fuji Image Plaza se -bagai jaringan ritel Fotografi

di Indonesia.

Fuji Imaze Plaza was established asa retail photography network

in Indonesia.

1992

Penawaran Umum Terbatas

I dengan Hak memesan Efek Terlebih Dahulu.

Right Issue I with Pre-Emptive Right.

Penawaran Umum Perdana Saham.

Initial Public Offering.

1971

1991

Didirikan dengan nama PT Modern Photo Film Company.

The Company was established using the name PT Modern Photo Film Company.

1997

2007

Perubahan nama Perseroan

menjadi PT Modern

Internasional Tbk.

Company’s name changed into PT Modern Internasional Tbk.

2008

Penandatanganan Letter of

Intent Master Franchise gerai 7-Eleven di Dallas - Amerika

Serikat.

Letter of Intent Master Franchise of 7-Eleven was signed at Dallas, United States of America.

2006

Penunjukkan sebagai Distrib

-utor Tunggal Shimadzu untuk

produk perlengkapan medis. Appointed as Shimadzu sole Dis-tributor for medical equipments.

2009

Penandatanganan Master

Franchise Agreement 7-Eleven

di Tokyo - Jepang

Pembukaan gerai pertama

7-Eleven di Bulungan, Jakarta

Selatan.

Master Franchise Agreement of 7-Eleven was signed in Tokyo - Japan.

The first 7-Eleven store opening at Bulungan, South Jakarta.

8

PT Modern Internasional Tbk

2011

Pembukaan gerai 7-Eleven ke - 57.

Pembukaan PT FFI (Fresh Food Indonesia).

Established The 57st 7-Eleven store opening.

PT FFI (Fresh Food Indonesia).

2015

Pembentukan PT Fresh Food

Warabeya Indonesia yang

merupakan usaha patungan anatara PT Fresh Food

Indonesia dan Warabeya Nichiyo Co Ltd.

A formation of PT Fresh Food Warabeya Indonesia as a joint venture company between PT Fresh Food Indonesia and Warabeya Nichiyo Co Ltd.

2015

Penandatanganan perjanjian Fujifilm Transfer of Trade

Right and Termination.฀

A Fujifilm Transfer of Trade Right and Termination agreement signing.

Grand Opening PT Fresh Food

Indonesia Tahap 2.

Grand Opening PT Fresh Food Indonesia – 2nd phase.

2015

2015

JV PT Fresh Food Warabeya Indonesia antara PT Fresh Food Indonesia dan Warabeya Nichiyo Co Ltd.

JV PT Fresh Food Warabeya Indonesia between PT Fresh Food Indonesia and Warabeya Nichiyo Co Ltd.

2012

Pembukaan gerai 7-Eleven ke - 100.

Penawaran Umum Terbatas II (PUT II) dengan Hak Memesan Efek Terlebih Dahulu.

The opening of The 100th 7-Eleven outlet.

Right Issue II with Pre-Emptive Right.

2015

JV PT Saison Modern Finance antara PT MI dan Credit Saison Co Jpn.

JV PT Saison Modern Finance between PT MI and Credit Saison Co Jpn.

2015

Pembukaan FFI 2.

The opening of the FFI 2.

9

PT Modern Internasional Tbk

P E R I S T I WA

P E N T I N G 2 0 1 6

2 0 1 6 E V E N T

H I G H L I G H T S

JUNE, 2016

JULY, 2016

OCTOBER, 2016

Pengembalian bisnis Medical brand FujiFilm kepada prinsipal Fuji Film.

Returning back the distribution rights of Medical with FujiFilm brand to Fuji Film principal.

Kick Off National Dealer Meeting Ricoh di Novotel Gajah Mada. Event ini kedepannya akan diselenggarakan setiap tahun.

RICOH National Dealer Meeting Kick Off at Novotel Gajah Mada. Moving forward, this meeting will be held annualy.

Penandatanganan perjanjian untuk Mitra Mandiri sehubungan dengan pengelolaan gerai 7-Eleven secara mandiri oleh store

manager terpilih dengan bantuan fasilitas pendanaan dari PT Saison Modern Finance.

Mitra Mandiri signing agreement in relation with 7-Eleven store operation are being managed independently by several selected stores managers with financing support from PT Saison Modern Finance.

10

PT Modern Internasional Tbk

I K H T I S A R DATA

K E UA N G A N

F I N A N C I A L

H I G H L I G H T S

Dalam Jutaan Rupiah

In Million Rupiah

Neraca & Laba Rugi

Balance Sheet & Proit and Loss

Penjualan/Sales

Laba Bruto/Gross Profit

Total Aset/Total Assets

Total Liabilitas/Total Liability

Total Ekuitas/Total Equity

Laba Operasi/Operational Profit

Laba Komprehensive per

Saham/Par Value Per Share

Modal Kerja Bersih/Net Working Capital

Laba Komprehensif Profit

tahun berjalan/Comprehensive Income For The Year

Jumlah Saham – ditempatkan

dan disetor penuh/Sum of

Issued and Fully Paid Share Nilai Nominal per Saham dan

disetor penuh/Nominal Value per Share and Fully Paid

1,228,726 403,300 2,488,621 1,204,924 1,283,697 82,725 (12) (200,759) (54,768) 4,574,697,999 100 1,437,940 585,055 2,489,343 1,205,318 1,284,024 152,018 9 252,697 38,989 4,574,697,999 100 1,273,490 492,369 1,889,619 865,580 1,024,038 116,167 15 288,415 50,146 4,158,816,364 100 1,099,310 370,233 1,734,346 747,465 986,890 121,599 16 557,789 55,726 4,158,816,363 100

Uraian / Description

2016

2015

2014

2013

2012

891,421 273,266 1,982,423 1,337,119 645,303 (764,315) (35) (695,443) (638,720) 4,574,697,999 100

Dalam jutaan Rupiah kecuali nilai nominal per saham dan laba (rugi) persaham dalam Rupiah dan jumlah Saham.

In millions of Rupiah except par value per share and earning (loss) per share in the full amount and number of shares.

11

PT Modern Internasional Tbk

Rasio Laba Komprehensif

terhadap Total Aset/Ratio of Comprehensive Profit to Total Assets

Rasio Laba Komprehensif

terhadap Total Ekuitas/Ratio of Comprehensive Profit to Total Equity

Rasio Laba Komprehensif

terhadap Penjualan/Net Profit Margin

Rasio Laba Bruto terhadap

Penjualan/Gross Profit Margin

Rasio Laba Operasi terhadap

Penjualan/Operating profit margin

Rasio Total Liabilitas terhadap

Total Ekuitas/Ratio of Total Liability to Total Equity

Rasio Total Liabilitas terhadap

Total Aset/Ratio of Total Liability to Total Assets

Rasio Lancar/Current Ratio

1.6

2.9

2.7

40.7

10.5

78.0

43.8 144.0

2.7

4.9

3.9

38.7

9.1

84.5

45.8 162.9

3.2

5.6

5.5

36.7

12.0

75.7

43.1 230.3 -2.2

-4.3

-4.4

32.8

6.7

93.8

48.4 73.8

Uraian / Description

2016

2015

2014

2013

2012

(32.2)

(99.0)

(71.7)

(85.7)

207.2

67.4 32.6 30.7

12

PT Modern Internasional Tbk

Annual Report 2016

Rasio Keuangan (dalam %)

2012

2013

2014

2015

2012

G R A F I K I K H T I S A R DATA

K E UA N G A N

C H A RT O F F I N A N C I A L

DATA H I G H L I G H T S

13

PT Modern Internasional Tbk

Annual Report 2016

Graik Penjualan

Sales Chart

2016

2013

2014

2015

1.600.000

1.400.000

1.200.000

1.000.000

800.000

600.000

400.000

200.000

Rp

Dalam jutaan Rupiah/In Million Rupiah

Graik Laba Bruto

Gross proit Chart

2016

700.000

600.000

500.000

400.000

300.000

200.000

100.000

Rp

2012

2013

2014

2015

2012

2013

2014

2015

Graik Total Aset

Total Assets

Chart

2016

2.500.000

2.000.000

1.500.000

1.000.000

500.000

Rp

Dalam jutaan Rupiah/In Million Rupiah

Graik Total Ekuitas

Total Equity Chart

2016

1.400.000

1.200.000

1.000.000

800.000

600.000

400.000

200.000

Rp

Dalam jutaan Rupiah/In Million Rupiah

14

PT Modern Internasional Tbk

15

PT Modern Internasional Tbk

Annual Report 2016

I K H T I S A R S A H A M

S TO C K H I G H L I G H T

Saham kami ditutup pada harga Rp 110,- hingga akhir 2016. Sepanjang tahun 2016 ini , kami telah mencatat total transaksi sebesar 15.538.400 lem-bar saham dengan total nilai Rp 1.789.531.300.

Our share closing price was Rp.110,- up to the end of 2016. Throughout 2016, we have recorded a total of transac-tion valued Rp.15,538,400 shares with total value of Rp 1,789,531,300.

Kinerja saham 2016

2016 Share performance

Informasi harga saham per triwulan

Information on share price per quarter

Periode Period

Triwulan I

Quarter I

Triwulan II

Quarter II

Triwulan III

Quarter III

Triwulan IV

Quarter IV

141 143 196 143 108 114 147 117 119 162 162 123 56.947.867 63.785.333 63.785.333 28.192.967 680 501 343 169 598 412 256 121 625 441 245 145 12.164.567 8.355.333 32.551.900 235.574.533 Harga Saham Tertinggi

Highest Price (Rp)

Harga Saham

Tertinggi

Highest Price (Rp)

Harga Saham

Terendah

Lowest Price (Rp)

Harga Saham

Terendah

Lowest Price (Rp) Volume Perdagangan/

Trade Volume Volume Perdagangan/Trade Volume Harga Penutupan

Closing Price (Rp) Harga PenutupanClosing Price (Rp)

LAPORAN

MANAJEMEN

MANAGEMENT

L A P O R A N

D E WA N KO M I S A R I S

B OA R D O F

C O M M I S S I O N E R S

R E P O RT

Achmad Fauzi Hasan

Komisaris Utama

President Commissioner

Para Pemegang Saham yang Terhormat,

Rasa syukur kami panjatkan kepada Tuhan Yang Maha Esa atas segala rahmat yang diberikanNya sehingga PT Modern Internasional Tbk ( Perseroan) dapat melewati tahun 2016 yang penuh tantangan ini.

Berikut kami sampaikan laporan pelaksanaan tugas dan tanggung jawab Dewan Komisaris terhadap operasional Perseroan yang dilakukan oleh Direksi.

Dear Distinguished Shareholders,

We thank The Almighty God for His blessing so that PT Modern Internasional Tbk ( The Company) was able to pass through a challenging year of 2016.

Hereby, we present report on duties and responsibilities carried out by Board of Commissioners on the Company’s operations as performed by Board of Directors.

18

PT Modern Internasional Tbk

Kinerja Perseroan 2016

Sepanjang tahun 2016, Perseroan mencatatkan nilai penjualan sebesar Rp 891,4 miliar mencatat -kan penurunan sebesar 27,45% dibanding-kan ta-hun 2015 yang tercatat sebesar Rp 1.228,7 Milliar . Kami mengerti bahwa penurunan performa terse -but merupakan dampak dari restrukturisasi Perse-roan dan perampingan operasi bisnis yang sedang dijalankan dan kami mendukung keputusan dari Direksi untuk melakukan restrukturisasi Perse -roan serta mengambil keputusan yang konserva-tif dalam kegiatan investasi dengan tujuan agar kedepannya Perseroan dapat beroperasi dengan lebih efisien, ramping dan kokoh untuk ekspansi di masa mendatang.

Company Performance in 2016

Along 2016, The Company recorded a net revenue amount-ed to Rp 891.4 billion , a decrease by 27.45% comparamount-ed with 2015 amounted to Rp 1,228.7 billion .

We understand that the slowing down of The Company performance was mainly an impact from restructuring The Company and the streamlining of business opera-tion. We supported the decision from the Board of Direc-tors to do likewise and to decide conservatively in terms of investment so that in moving forward, The Company will be able to operate more efficiently, effectively and strongly in its future business expansion.

19

PT Modern Internasional Tbk

Prospek Usaha ke Depan

Kedepannya, selain 7-Eleven, kami juga mengarah -kan agar Perseroan tetap mengembang-kan bisnis Medical Imaging dengan berfokus kepada alat-alat kesehatan yang bermargin tinggi yang dapat di-pasarkan melalui rumah rumah sakit, klinik mau-pun Puskesmas. Saat ini Divisi Medical Imaging masih memegang ijin distributor dari brand Shi-madzu dan Sirona Dental Imaging.

Disamping itu, fokus dan dukungan juga diberikan untuk meningkatkan pemasaran Document Man -agement Solution melalui PT Modern Data Solusi (MDS) dengan memasarkan solusi dokumen ber -basis IT untuk gedung – gedung perkantoran dan agen-agen percetakan.

Dalam hal tata kelola perusahaan yang baik (GCG), Perseroan berkomitmen untuk menerapkan GCG secara konsisten dan maksimal. Salah satu hal utama dalam tata kelola perusahaan yang diterap-kan adalah menyangkut penegaditerap-kan prinsip TARIF (Transparency, Accountability, Responsibility, Inde -pendency and Fairness) dalam rangka melindungi kepentingan perusahaan dan pemegang saham.

Penilaian terhadap Komite-komite di Bawah Dewan

Komisaris

Meskipun mengalami masa-masa yang cukup be -rat di tahun 2016, Dewan Komisaris telah melihat bahwa komite yang berada dibawah Dewan Komis -aris telah memberikan hasil kerja yang optimal, se-hingga Dewan Komisaris dapat menjalankan tugas dan fungsi pengawasannya dengan baik.

Baik Komite Audit maupun Unit Internal Audit baik secara independen maupun bersama-sama telah mengevaluasi laporan keuangan secara berkala, termasuk strategi bisnis dan praktik-praktik pen-gelolaan risiko yang dilakukan oleh manajemen Perseroan.

Future Business Outlook

Moving forward, other than 7-Eleven, we also advise the Company to keep develop the Medical Imaging business, focusing on those medical equipments with high margin which can be distribute to hospital chains, clinics and Puskesmas. Currently, Medical Imaging division hold distributorship from Shimadzu brand and Sirona Dental Imaging.

In addition to that, focus and support also given to im-prove Document Management Solution business through PT Modern Data Solusi ( MDS) business, by expanding the distribution of IT based document solution to chains of offices as well as and printing agents.

In term of good corporate governance (GCG), the Compa-ny has a commitment to implement GCG in a consistent manner. The enforcement of TARIF ( Transparency, Ac-countability, Responsibility, Independency and Fairness) principle was one of the main issues in good corporate governance, as the enforcement of such principle may protect the interests of both the company and the share-holders.

Assessment on Committees Under Board of Commission-ers

Going through a tough situation along 2016, the Board of Commissioners has sawn that the committees under Board of Commissioners had given maximum hardwork for Board of Commissioners to perform its duty and su-pervisory function.

Furthermore, both Audit Committee and Internal Audit Unit has been working independently and cooperatively in evaluating financial statements in a periodical man-ner, including business strategy and risk management practices performed by the management.

20

PT Modern Internasional Tbk

Apresiasi

Pada kesempatan ini, kami ingin menyampaikan rasa terimakasih kami kepada Dewan Direksi dan tim manajemen untuk komitmen dan kerja keras yang telah dilakukan sepanjang tahun 2016 dan juga kepada seluruh pihak yang berkepentingan dan para pemegang saham atas dukungan dan kerjasama yang telah diberikan.

Salam,

Achmad Fauzi Hasan

Komisaris Utama President Commissioner

Appreciation

In this opportunity, we would like to extend our gratitude to the Board of Directors and the management for the commitment and hardwork done for fiscal year 2016, as well as our gratitude for the shareholders for their sup-ports and cooperation.

21

PT Modern Internasional Tbk

L A P O R A N

D I R E K S I

B OA R D O F

D I R E C TO R S

R E P O RT

Sungkono Honoris

Direktur Utama

President Director

Para Pemegang Saham yang Terhormat,

Pertama-tama kami dari jajaran Direksi ingin men -gucapkan terima kasih kepada para konsumen kami, mitra bisnis, para karyawan, dan pemasok dan para pemegang saham atas segala dukungan, kerjasama dan komitmennya dalam membangun bisnis bersama.

Juga kepada team manajemen yang ada, dimana tahun –tahun menantang telah dilewati bersama sama untuk menyajikan laporan tahun 2016 ini.

Dear Distinguished Shareholders,

First of all, we from the Board of Directors would like to express our gratitude to all our customers, business partners , suppliers, employees and shareholders for all the support, cooperation and commitment in building the business together.

Also to the management team whom with we passed through these challenging years to present this 2016 An-nual Report.

22

PT Modern Internasional Tbk

Melanjutkan Fokus Restrukturisasi dan Perampin-gan Operasi Bisnis

Sama seperti tahun sebelumnya, tahun 2016 mer-upakan tahun yang penuh tantangan bagi Perse-roan.

Meresponi hal ini, Perseroan memilih untuk melan -jutkan dan melakukan restrukturisasi dan per-ampingan operasi bisnis.

Kelanjutan dari restrukturisasi operasi bisnis ini dilakukan melalui perampingan dan efisiensi op-erasi bisnis, meningkatkan performa bisnis secara keseluruhan serta melakukan penyehatan neraca di bagian keuangan.

Salah satu strategi yang dijalankan sejak tahun 2015 , adalah dengan mengembalikan bisnis FUJI -FILM kepada prinsipal FUJI-FILM. Dengan pengem -balian bisnis FUJIFILM ini, Perseroan juga melaku -kan effisiensi biaya operasi terutama biaya – biaya kantor pusat. Hal ini dilakukan agar struktur Per -seroan menjadi lebih ramping dan kuat untuk ek-spansi bisnis ke depan dan segenap sumber daya Perseroan dapat difokuskan penuh untuk pemban-gunan bisnis 7-Eleven.

Sejalan dengan strategi konsolidasi Perseroan, Ma -najemen juga mencari dan mempertimbangkan berbagai macam cara untuk melakukan penyeha-tan neraca , dimana hal ini telah dilakukan secara berkala dengan adalah menjual aset-aset berupa tanah dan bangunan Perseroan yang saat ini dan dalam waktu kedepan tidak produktif lagi, untuk kemudian dibayarkan untuk melunasi hutang bank.

Continuing Restructuring and Streamlining Business Op-eration

Similar to the previous year, 2016 has been a challenging year for the Company.

In response to this condition, The Company has chosen to continue in restructuring and streamlining business operation.

The continuation of this business restructuring has been done through streamlining the business operation, in-creasing business performance as a whole and improv-ing balance sheet as part of financial strategy.

One of the strategies that has been done since 2015 was the returning back of FUJIFILM business to its principal. With this FUJIFILM business divestment, The Company was also able to cut the operation cost especially for the head quarter cost. This was done in order to streamline the Company structure for future expansion as well as focus all the Company resources to build and develop the 7-Eleven business.

In line with The Company consolidation strategy, Man-agement also consider and look for possible ways to im-prove balance sheet. One of the way was to sell The Com-pany assets in the form of properties which currently idle and unproductive. The proceeds from these assets sell-ing has been used to pay the bank loan.

23

PT Modern Internasional Tbk

Pengembangan Bisnis 7-Eleven

Di tahun 2016, 7-Eleven memberikan kontribusi se -besar 75,7% dari total pendapatan Perseroan. Melihat tujuh tahun kebelakang, dimana gerai 7-Eleven dibuka pertama kalinya di tahun 2009, penerimaan dari konsumen akan brand 7-Eleven beserta produk dan layanan yang ditawarkan be-rangsur-angsur meningkat dan meluas seiring berjalannya waktu. 7-Eleven memfokuskan diferen-siasinya untuk memenuhi kebutuhan gaya hidup urban yang serba cepat dan menuntut kenyaman-an. Hal ini dipenuhi oleh 7-Eleven melalui penye -diaan makanan dan minuman segar, makanan dan minuman ringan serta layanan digital terpadu seperti layanan ATM, pengisian ulang pulsa untuk handphone, internet, listrik dan layanan kenya-manan lainnya.

Dalam melakukan operasi bisnisnya , gerai 7-Elev -en didukung oleh sarana fundam-ental yang kuat seperti Central Kitchen, Central Warehouse dan IT Sistem yang canggih. Sarana fundamental ini memberikan keunggulan kompetitif tersendiri bari 7-Eleven dalam memfokuskan diferensiasinya sekaligus menjaga standar kualitas, higiene dan layanan dari produk dan layanan yang ditawarkan.

The Development for 7-Eleven Business

In 2016, 7-Eleven contributed 75.7% from total Company revenue.

Looking back over those 7 years, when 7-Eleven outlet was first time established in 2009, the acceptance of the cus-tomers regarding the 7-Eleven brand and its products of-fering has been gradually widening. With 7-Eleven focus differentiation in providing the fast urban lifestyle needs on fresh foods , beverages, snacks and one stop services of ATMs, prepaid phone, internet, electricity vouchers and others services designed for conveniences, 7-Eleven Indo-nesia is able to cater the needs of customers changing lifestyle.

In operating its business, 7-Eleven has been support-ed by strong infrastructures including Central Kitchen, Central Warehouse and advanced IT System. These infra-structures has been serving as competitive advantage in sharpening 7-Eleven differentiation as well as maintain-ing its standard quality, hygiene and services.

24

PT Modern Internasional Tbk

Performa di 2016

Melanjutkan strategi restrukturisasi Perseroan maka dalam menanggapi penurunan pendapatan yang disebabkan oleh kehilangan penjualan alko-hol, daya beli yang menurun serta persaingan usa-ha yang tinggi, maka sampai akhir tahun 2016, en-titas anak PT Modern Sevel Indonesia ( MSI) telah melakukan penutupan 25 gerai 7-Eleven yang tidak mempunyai performa yang baik, sehingga pada akhir tahun 2016 masih ada 161 gerai 7-Eleven yang masih aktif beroperasi. Penutupan gerai yang tidak berperforma baik ini dimaksudkan untuk mengu-rangi kerugian biaya operasi.

Perseroan telah mencatatkan total penjualan kon-solidasi sebesar Rp 891,4 Milyar atau mengalami penurunan sebesar 27,45% di 2016, dibandingan dengan pencapaian sebesar Rp 1.228,7 Milyar di 2015.

Untuk meningkatkan fleksibilitas arus kas, tim keuangan saat ini sedang dalam tahap negosiasi dengan bank untuk merestrukturisasi hutang yang ada. Selain itu, untuk meningkatkan modal kerja, penjualan aset Perseroan yang tidak produktif lagi juga dipercepat dengan menunjuk Colliers sebagai agen penjualan.

Perseroan juga menerima kontribusi penjualan dari PT Modern Data Solusi ( PT MDS) , entitas anak yang fokus kepada penyediaan solusi dokumen manajemen berbasis IT, sebesar 10,1% dari total pendapatan di tahun 2016. Saat ini PT MDS melaku -kan konsentrasi pada segmen per-kantoran mod-ern seiring dengan meningkatnya permintaan dari segmen ini.

Performance in 2016

Continuing the restructure strategy, in response to the-significant decrease of sales performance due to the loss of alcoholic sales, weaken of buying power and high com-petition, hence up to the end of 2016, the Company had closed down 25 underperforming stores, making up a total of 161 outlets. The closing down of underperforming stores was aim to cutting down operation losses.

The Company has raised total consolidated net sales to Rp 891.4 billion or decreased by 27.45 % in 2016 compared with Rp 1,228.7 billion in the previous year.

To improve the flexibility of cash flow, the finance team has been in negotiation with banks to restructures the existing loan. In addition to that, to free up more working capital, the selling process of unproductive assets has been expedite by appointing Colliers as selling agent.

The Company also receives contribution from PT Mod-ern Data Solusi, a subsidiary which focuses on providing document management solution based on IT, security and networking; making Subsidiaries contributed 10.1% of total revenues gained in 2016 . Currently, PT Modern Data Solusi concentrated its market segment on modern offices (corporate) due to high demands in this sector.

25

PT Modern Internasional Tbk

Tantangan dan Prospek Usaha ke Depan

Perusahaan PT Modern Internasional Tbk ( PT MI Tbk) beserta entitas anak, termasuk didalamn-ya PT Modern Sevel Indonesia ( MSI), sejak tahun 2015 sedang menjalankan strategi restrukturisasi dan konsolidasi perusahaan. Hal ini dilanjutkan di tahun 2016 dan dilakukan agar kedepannya peru-sahaan dapat beroperasi secara lebih efektif dan efisien sehingga kinerja dan performa perseroan dapat semakin membaik.

Salah satu eksekusi strategi restrukturisasi dan konsolidasi ini adalah mereview gerai –gerai 7-Elev -en yang tidak mempunyai performa yang baik ( un-derperform) yang disebabkan oleh perubahan pili-han dan kebutupili-han konsumen.

Bagi Perseroan , penutupan gerai 7-Eleven yang tidak mempunyai performa yang baik ini sejalan dengan strategi konsolidasi dan restrukturisasi team manajemen, dimana dalam hal dunia usaha dan bisnis, penutupan gerai yang tidak berperfor-ma baik merupakan hal norberperfor-mal yang dapat terjadi. Untuk tahun 2017, Perseroan akan terus melanjut-kan proses restrukturisasi dan perampingan oper-asi bisnis. Fokus di tahun 2017 ini adalah memper-baiki performa bisnis dan meneruskan penyehatan posisi keuangan melalui penjualan asset property yang tidak terpakai lagi untuk melunasi pinjaman bank yang tinggi.

Kedepannya, apabila keadaan ekonomidan per -saingan masih tetap belum berubah, maka mana-jemen Perseroan akan kembali memikirkan berb-agai solusi dan cara untuk memulihkan keadaan Perseroan.

Challenges and Future Business Outlook

PT Modern Internasional TBK and its subsidiaries has been executing its consolidation strategy since 2015 and continuing this strategy in 2016. This restructuring has been done so that in the future the Company will be able to increase its efficiency and effectiveness in its op-eration so as to improve The Company business perfor-mance.

One of the strategy execution is to review underperform-ing 7-Eleven stores caused by the changunderperform-ing of customer behaviour and preferences.

For the Company, the closing down of 7-Eleven underper-forming stores was in line with the consolidation strategy and in the common business world, closing down stores that are not performing well is a normal thing to happen.

For the year of 2017, The Company will continue the busi-ness restructuring and streamlining strategy. Focus in 2017 will be to improve Company business performance and continue to decrease leverage through selling of un-productive assets.

Moving forward, if there is no improvement on economic situation and competition, The Company’s management will think and consider other ways to restore the state of The Company.

26

PT Modern Internasional Tbk

Untuk Entitas Anak PT Modern Data Solusi, Perse -roan akan meningkatkan fokus melalui menam-bah variasi mesin, solusi serta inovasi-inovasi baru untuk memenuhi kebutuhan dan meningkatkan kepuasan pelanggan di seluruh wilayah Indonesia.

Apresiasi

Dalam kesempatan ini, perkenankanlah saya atas nama Direksi untuk mengucapkan terima kasih atas kepercayaan dan kerja keras dari segenap karyawan serta dukungan dari para mitra bisnis dan pemegang saham selama ini. Bersama-sama ,kami akan terus berusaha untuk menggapai im-pian menjadi Perseroan yang baik dan bermanfaat untuk masyarakat Indonesia.

Salam,

Sungkono Honoris

Direktur Utama President Director

27

PT Modern Internasional Tbk

Annual Report 2016

In terms of PT Modern Data Solusi as Subsidiary, the Company will add more on equipment variations, solu-tion and new innovasolu-tions to cater specific needs of cli-ents in Indonesia.

Appreciation

On behalf of Board of Directors, I would like to extend my gratitude for the trust and hardwork of all the employees as well as support from all business partners and share-holders. Together, we will strive to attain our vision to be-coming a beneficial Company for Indonesia people.

PROFIL

PERUSAHAAN

COMPANY

PROFILE

S E K I L A S

P E RU S A H A A N

C O M PA N Y

AT A G L A N C E

Identitas Perusahaan

Company Identity

Nama Perusahaan Company Name Bidang Usaha Line of Business Pembentukan

Establishment

Modal Dasar Authorized Capital

Modal Ditempatkan dan Disetor Issued and Paid-In Capital

Kepemilikan per 31 Desember 2016

Share Ownership per 31 December 2016

Dasar hukum Pendirian Legal Basis of Establishment Alamat Kantor

Office Address

PT Modern Internasional Tbk

Perdagangan, perindustrian, percetakan, dan jasa

Trading, Industry, Printing & Services

Didirikan 12 Mei 1971 dengan nama PT Modern Photo Film Company, pada 26 Mei 1997 diubah menjadi PT Modern Photo Tbk, Juni 2007 menjadi PT Modern Internasional Tbk.

Established on May 12, 1971 under the name of PT Modern Photo Film Compa-ny and changed to PT Modern Photo Tbk, on May 26, 1997 before permanently established as PT Modern Internasional Tbk.

1.200.000.000

4.574.697.999 lembar/shares

PT Bukit Hedama Permai - 1.218.735.810 lembar PT Inti Putramodern – 344.795.000 lembar

CS AG SG CL Asialink Electronics – 602.931.700 lembar

CIMBGNT S/A CIMB Private Equity Sdn Bhd – 415.881.636 lembar Morgan Stanley & Co Intl Plc – IPB Client Account – 385.167.818 lembar Publik dibawah 5% - 1.607.186.035 lembar

1,218,735,810 Shares by PT Bukit Hedama Permai 344,795,000 Shares by PT Inti Putramodern

602,931,700 Shares by CS AG SG CL Asialink Electronics

415,881,636 Shares by CIMBGNT S/A CIMB Private Equity SDN BHD 385,167,818 Shares by Morgan Stanley & Co Intl Plc – IPB Client Account 1,607,186,035 shares by Public under 5%

Akta Notaris Djojo Muljadi, S.H. No 47 tanggal 12 Mei 1971 Notarial Deed of Djojo Muljadi, S.H. No 47 dated May 12, 1971 PT Modern Internasional Tbk

Jl. Matraman Raya 12, Jakarta Timur, 13150, Indonesia Telepon : (+62 21) 2801000

Fax : (+62 21) 8581620

Email : corpsec@moderninternasional.co.id Website : www.moderninternasional.co.id

30

PT Modern Internasional Tbk

31

PT Modern Internasional Tbk

Annual Report 2016

R I WAYAT S I N G K AT

P E RU S A H A A N

C O M PA N Y I N B R I E F

PT Modern Internasional Tbk resmi didirikan pada tanggal 12 Mei 1971 dan seiring perjalanannya Peru -sahaan telah beberapa kali bertransformasi nama dan mengalami perubahan Anggaran Dasar yang diberlakukan. Lahir dengan nama PT Modern Photo Film Company, Perusahaan pertama kali berganti nama menjadi PT Modern Photo Tbk pada tahun 1997. Namun, seiring dengan perubahan bisnis yang tidak hanya berskala nasional tetapi mulai merambah ke dunia internasional, nama PT Modern Photo Tbk berubah menjadi PT Modern Internasion -al Tbk. Sejak 1971, Perseroan menjadi satu-satunya distributor untuk seluruh produk Fujifilm Jepang dan mengontrol 1.200 gerai Fuji Image Plaza di In -donesia sampai di tahun 2015, dimana pada bulan Agustus telah ditandatangani perjanjian kesepa-katan untuk pengembalian hak distribusi brand FUJIFILM kepada prinsipal FUJIFILM. Pengembalian hak distribusi telah dilakukan secara bertahap dan terkoordinir sehingga aktivitas bisnis Perusahaan secara keseluruhan tetap dapat berjalan seperti biasa. Tujuan utama dari strategi ini adalah agar Perusahaan dapat mem-fokuskan segenap sumber daya yang ada untuk membangun bisnis 7-Eleven, melalui entitas anak PT Modern Sevel Indonesia.

PT Modern Internasional Tbk officially established in May 12, 1971 and throughout the years, the Company has changed its name as well as the Company’s applicable Articles of Association several times. Established as PT Modern Photo Film Company, the Company changed its name for the first time to PT Modern Photo Tbk in 1997. However, along with the dynamic changes in business world which was not only within national, but interna-tional scope, PT Modern Photo Tbk once again changed its name to PT Modern Internasional Tbk. Since 1971, The Company was the sole distributor for all products of Fujif-ilm Japan and supervised 1.200 Fuji Image Plaza outlets in Indonesia until 2015, where in the month of August 2015, Company has signed an agreement to return the distri-bution right of FUJIFILM brand back to FUJIFILM principal. This business handover has been done progressively in a coordinated manner so the business activities of The Company could be still operated just as usual. The main objective behind this strategy was to allow the Compa-ny to focus its resources on building 7-Eleven business through its subsidiary PT Modern Sevel Indonesia.

Perseroan melalui entitas anak, juga menekuni bisnis ritel. Melalui entitas anak, PT Modern Pu -traIndonesia (MPI) yang melakukan perubahan nama perusahaan per tanggal 2 Juni 2014 dengan Akta No 01. menjadi PT Modern Sevel Indonesia ( MSI), pada 7 November 2009 Perseroan mengem -bangkan jaringan bisnis di bidang Convenience Store melalui gerai waralaba 7-Eleven di Jakarta. Indonesia adalah negara ke-17 di dunia yang mem -buka bisnis waralaba 7-Eleven.

Hingga 31 Desember 2016 , jumlah outlet 7-Eleven mencapai 161 gerai. Kebutuhan masyarakat urban yang serba cepat dan mengutamakan kecepatan pelayanan, kenyamanan dan kualitas produk yang baik dan konsisten terus meningkat sehingga memberikan peluang pasar yang menjanjikan un-tuk bidang usaha ritel ini kedepannya.

The Company through its subsidiary also focus on the retail business. Through its subsidiary, PT Modern Putra Indonesia (MPI) which changed the name of the Compa-ny as of June 2, 2014 by Deed No. 01 into PT Modern Sevel Indonesia (MSI), in November 7, 2009 the Company ex-pand its business network in field of Convenience Store through 7-Eleven franchise in Jakarta. Indonesia is the 17th country in the world to open the 7-Eleven franchise.

Until 31 December 2016, sum of 7-Eleven outlets reached 161 in total. The increasing needs of urban lifestyle, pri-oritizing on fast services, comforts and consistent good product quality has given a promising prospect for this type of retail business in years to come.

32

PT Modern Internasional Tbk

B I DA N G U S A H A

P E RU S A H A A N

C O M PA N Y ’ S L I N E

O F B U S I N E S S

33

PT Modern Internasional Tbk

Annual Report 2016 Seperti yang tercantum pada pasal 3 Anggaran

Dasar Perusahaan, bidang usaha yang dijalankan Perseroan mencakup bidang perdagangan, per-industrian, percetakan dan jasa. Pada tanggal 18 Agustus 2015, telah dilakukan pengembalian hak distribusi brand FUJIFILM kepada melalui penan -datangan ฀FUJIFILM Transfer of Trade Right & Ter -mination Agreement฀ antara Perseroan dengan FUJIFILM CO Japan, meliputi peralatan dan bahan baku dari divisi Fotografi, dan Graphic Art. Sedang-kan divisi Bidang Medical sampai saat ini masih dipegang oleh Perseroan.

Untuk bisa terus mempertahankan posisinya da-lam industri nasional, Perseroan menjalankan strategi 6R seperti berikut:

Repositioning Business

Reinvent Business

Reengineering Business Process

Right Sizing

Resources Allocations

Restructure organisation

As stated in the Company’s Articles of Association Article 3, the Company’s line of business covers trading, indus-try, printing, and service . On 18th August 2015, the re-turning back of distribution right of FUJIFILM brand toits

principal has been done through the ฀FUJIFILM Transfer of Trade Right & Termination Agreement฀ between the

Company and FUJIFILM CO, which includes equipments and supplies from the divisions of Photography, and Graphic Art . While on Medical Division, the business is still under the Company operation and management.

To be able to continue to maintain its position in the na-tional industry the Company implemented a 6R strategy, described as follows:

Berikut adalah aktivitas bisnis Perseroan maupun Entitas Anak, berdasarkan kategori segmen usah-anya:

Here is the Company’s or its subsidiaries’ business activ-ities, based on business segment category:

Bisnis yang dimiliki Perseroan melalui untitas anak PT Modern Sevel Indonesia ini merupakan konsep gabungan antara restoran siap saji dan convenience store yang mengutamakan prinsip convenience (kenyamanan dan kemudahan) bagi pelanggannya sehingga menjadikan setiap gerain-ya sebagai tempat belanja terpadu untuk kengerain-ya- kenya-manan sehari–hari.

Visi, Misi serta Nilai dan Budaya

Visi

Menjadi Convenience Store Terbaik di Indonesia.

Misi

Menciptakan Convenience Store yang dekat den -gan customer danmemenuhi kebutuhan mereka.

Budaya Perusahaan

Servant Leadership (Kepemimpinan yang me -layani).

Differensiasi 7-Eleven

7-Eleven memberikan solusi kenyamanan dengan mengambil positioning sebagai Food Destination Store dengan moto Higienis, Enak dan Cepat, den -gan selalu menyediakan kebutuhan masyarakat akan makanan dan minuman segar berkualitas baik, siap saji, terjamin higienis dengan harga yang kompetitif dan terjangkau.

PT MODERN SEVEL

INDONESIA (MSI)

This business which is managed by The Company’s sub-sidiary PT Modern Sevel Indonesia, is a concept combina-tion between Ready To Eat restaurant and convenience store that prioritizes on the principles of convenience (comfort and convenience) for its customer, makes every store as a one stop shopping splace for everyday conve-nience.

Vision, Mission , Culture and Value Vision

To be the best Convenience Store in Indonesia.

Mission

To create a Convenience Store that is close and able to fulfill the customer’s needs.

Corporate Culture

Servant Leadership

7-Eleven Differentiation

7-Eleven strives to continuesly provides the best conve-nience solution by taking positioning as Food Destina-tion Store with the motto: Hygienic, Delicious, and Fast, by providing society’s needs of fresh food and drinks that are in a good quality, fast service, ready to eat , safe and hygienic with competitive and affordable price.

34

PT Modern Internasional Tbk

Memberikan pengalaman yang mengesankan kepada konsumen dengan memberikan kenyamanan serta solusi terpadu.

Provide an impressive experience to consumers by providing comfort as well as integrated solutions

ATM (Anjungan Tunai Mandiri).

Laundry.

Jasa Layanan Kurir Pemesanan

taksi Bluebird (24 jam). Blue Bird taxi reservation service.

Jasa pelayanan Kurir ( Courier

Service) bekerjasama dengan

NEX Logistic.

Courier service, in cooperation with NEX.

Photo & Document Service

Solution berupa cetak photo

untuk ID, photocopy, cetak fly -ers dsbg.

Photo&Document service solution such as photo print for ID, photo-copy, flyers, and so forth.

Deposit payment point for drivers from Grab Bike and Grab Car.

Pembayaran Listrik, Air & Gas.

Electricity, Water & Gas payment.

Pembelian pulsa telpon. Telephone credit purchase.

Pembelian pulsa internet. Internet credit purchase.

Pembelian tiket kereta api. Train ticket purchase.

Pembelian tiket event seperti konser , event lari, seminar, etc. Event ticket purchase, such as con-cert ticket, run event, seminar, etc.

Pembelian tiket masuk berb-agai wahana hiburan keluarga

seperti Dufan & Waterpark.

Ticket for family theme park eg : Dufan, Waterboom, etc.

Pembelian Voucher Online Games.

Pembelian tiket pesawat beker-ja sama dengan Aerowisata. Plane ticket purchase, in coopera-tion with Aerowisata.

Pembelian paket-paket wisata. Tour packages purchase.

Pembelian software Windows. Windows software purchase.

Pembayaran listrik dan gas. Paymnet for gas and electricity.

Pembelian Jasa Asuransi.

Insurance purchase. Aneka Fresh Chilled Food

Sep-erti aneka paket nasi bento dengan lauk, nasi tenggo ,onigi-ri,pasta, lasagna.

Various fresh chilled foods such as bento rice with side dish, rice ball, onigiri, pasta and lasagna.

Aneka Fresh Chilled Sandwich dan Salad.

Variants of fresh chilled sandwich and Salad.

Aneka Gorengan: Ayam Goreng,

Chicken Katsu, Ebi katsu, spring

roll , curry puff, corned beef puff. Variant of fried meals: Fried Chick-en, Chicken Katsu, Ebi kats, spring roll, curry puff, corned beef puff.

Aneka minuman panas seperti aneka jenis kopi segar dan teh yang diseduh langsung.

Various direct-brewed hot drinks such as various types of fresh cof-fee and tea.

Aneka minuman dingin terma-suk Slurpee, Gulp, es coklat, smoothies dan aneka jus. Various cold drinks such as Slurpee, Gulp, iced chocolate, smoothies and juices.

Aneka roti dan donut termasuk kue.

Various type of breads, donuts, and cakes.

Big Bite Hot Dog.

Big Bite Hot Dog.

Aneka Value Meal dengan kisa

-ran harga Rp 10.000 – Rp 15.000 seperti NASI JAGO, NASGOR JAGO dan PASTA JAGO.

Various kind of Value meal with price range of Rp 10.000 – Rp 15.000,-- includes NASI JAGO, NASGOR JAGO and PASTA JAGO.

Makanan & Minuman

Segar Siap Saji

Fresh Fast Foods and Drinks

Layanan Sevel in

Digital Kiosk

Sevel Service in Digital Kiosk

Layanan 24 Jam untuk Kenyamanan Konsumen

24 Hours Service for Customer’s Convenience

Komitmen 7-Eleven

7-Eleven’s Committmen

35

PT Modern Internasional Tbk

Kecakapan Operasi

Prinsip dan Pedoman dasar pengelolaan gerai 7-Eleven terdiri dari 5 (lima) bisnis fundamental, yaitu:

Kebersihan

Cepat dan Pelayanan Ramah Nilai

Produk Pilihan Kualitas

Selain itu, metode ฀Retail Initiative (RI)฀ diterap -kan sebagai dasar pengelolaan outlet 7-Eleven, di-mana dengan metode layanan tersebut dapat se-cara aktif dan responsif menanggapi kebutuhan konsumen yang berubah.

Infrastruktur Fundamental

Infrastruktur fundemantal yang kuat menjadi salah satu faktor utama yang mendukung posi-tioning 7-Eleven sebagai ฀ Food Store Destination, dan menjadikan gerai –gerai 7-Eleven menjadi ge -rai –ge-rai yang berkualitas.

Operational Excellence

Basic principles and guidelines of 7-Eleven outlet man-agement consists of 5 (five) business fundamentals, namely:

Cleanliness

Fast & Friendly Service Value

Assortment Quality

In addition, ฀ Retail Initiative (RI)฀ method has been em -ployed as a operational fundamental. Retail Initiative enable the sales associates to actively dan responsively answering the changing needs of customers.

Fundamental Infrastructure

Strong fundamental infrastructures have been one of the important factors in supporting the positioning of

7-Elev-en as ฀Food Store Destination฀ and building a quality

stores.

36

PT Modern Internasional Tbk

Infrastruktur Fundamental termasuk diantaranya :

1. CDC (Combined Distribution Center)

CDC merupakan kombinasi gabungan antara Cen -tral Warehouse dan Cen-tral Kitchen. Fasilitas CDC ini dibangun di lahan seluas 5 hektar yang terletak di Cakung , Jakarta Timur.

a. Central Kitchen

Dibawah operasi entitas anak PT Fresh Food Indo -nesia, Central Kitchen dibangun secara bertahap sejak tahun 2010. Tahap 2 telah diselesaikan pada tahun 2015 dengan kapasitas produksi untuk men-dukung 500 gerai 7-Eleven.

b. Central Warehouse

Guna mengintegrasikan pengiriman dari pihak supplier dan pendistribusian ke gerai – gerai 7-Elev -en, maka dibangunlah sistem pergudangan yang terintegrasi dan terkoordinasi. Dengan keberadaan gudang dan sistem pengiriman yang terintegrasi, hal ini akan meningkatkan efisiensi penerimaan kebutuhan stok barang di 7- Eleven dengan memin-imalisir disrupsi banyak pengirimin ke gerai, seka-ligus menjaga ketersediaan stok barang di gerai 7-Eleven.

Gudang pusat menggunakan sistem teknologi WMS dan Datria Voice Picking modul untuk mem -inimalisir kesalahan serta meningkatkan efekti-vitas dan efficiency operasi gudang dan logistik. Bekerja sama dengan Iron Bird sebagai penyedia trucking logistic untuk pengantaran ke outlet-out-let 7-Eleven.

Termasuk didalam gudang pusat ini adalah chill room warehouse dengan luas 900 M2.

Fundamental Infrastructures includes :

1. CDC ( Combined Distribution Center)

CDC is a combination of a Central Warehouse and a Cen-tral Kitchen. This facility is built in 5 HA are, located in Cakung , East Jakarta.

a. Central Kitchen

Under the Company subsidiary, PT Fresh Food Indonesia, Central Kitchen has been built by stages. The 2nd stage has been completed in 2015 to support up to 500 7-Eleven stores.

b. Central Warehouse

To integrate deliveries from suppliers and distributions to 7-Eleven outlets, an integrated and coordinated ware-house system was build. With this central wareware-house and its integrated system, efficiency of store deliveries can be enhanced by minimizing disruptions from many deliver-ies from many vendors to stores. Central Warehouse also ensures the merchandise stocks level at all 7- Eleven out-lets.

This Central Warehouse uses WMS system technology and Datria Voice Picking module to minimize error and to improve the efficiency and effectiveness of logistic and warehouse operation. In cooperation with Iron Bird as the provider of trucking logistic to do delivery to all 7-Eleven outlets.

Included in the warehouse is a chill room area with 900 sqm.

37

PT Modern Internasional Tbk

2. Teknologi Informasi

Menggunakan teknologi dari NEC, NRI dan PDI yang merupakan global partner dari 7-Eleven Inc USA un -tuk mendukung operasi bisnis 7-Eleven secara te-pat. Dengan sistem ini maka pilihan produk yang tepat, System Ordering yang lebih akurat, analisa kebutuhan konsumen yang lebih baik serta mana-jemen bisnis 7-Eleven secara keseluruhan dapat dilakukan secara efektif dan maksimal.

3. Training Center

Sales Associate dan Store Manager merupakan ujung tombak dalam pengoperasian outlet 7-Elev-en setiap harinya. D7-Elev-engan 5 (lima) Prinsip Dasar pengelolaan outlet : Service yang Baik dan ramah, Product Assortment yang tepat, kualitas produk yang terjamin, value yang baik serta kebersihan yang selalu terjaga, hanya dapat ditangani oleh sumber daya manusia yang direkrut secara seksa-ma dan terlatih dengan baik.

Jaringan Gerai 7-Eleven

Dalam pembangunan bisnis 7-Eleven di Indonesia, saat ini Perseroan melalui entitas anak PT Modern Sevel Indonesia mengoperasikan 161 gerai 7-Eleven yang keseluruhnya berada di Jakarta.

Dalam melakukan ekspansi bisnisnya, saat ini 7-Eleven difokuskan untuk dibuka dalam bentuk format gerai yang lebih kompak ( 80-120 M2) dan difokuskan untuk dibuka di pusat kegiatan seper-ti di area perkantoran, stasiun kereta api, aparte-ment dan pusat perbelanjaan sehingga efisiensi dan efektifitas gerai dapat lebih ditingkatkan.

2. Information Technology

Using technology form NEC, NRI, and PDI which are global partners from 7-Eleven Inc USA to support the operation of 7-Eleven business correctly.With this system appli-cation, the correct choice of products, accurate Order-ing System, better customer’s needs analysis as well as 7-Eleven business management as whole is made possi-ble supported by reliapossi-ble information technology system.

3. Training Center

Sales Associate and Store Manager is the most import-ant part in operating 7-Eleven outlets. With 5 (five) Ba-sic Principles of outlet management : Good and friendly service, correct product assortment, guaranteed product quality, good value, and maintained cleanliness, can only be handled by carefully recruited & well-trained Human Resources.

7-Eleven Network Distribution

In building the 7-Eleven business, currently The Compa-ny through PT Modern Sevel Indonesia ( PT MSI) operates 161 7-Eleven stores, all located in Jakarta area.

In its expansion of new stores , now 7-Eleven focuses more on opening a compact size outlets ( 80 120 Sqm) and builds within the customers hub like inside train station, offices area , apartments and malls, so as to in-crease the effectiveness and the efficiency of the stores.

39

PT Modern Internasional Tbk

Pada bidang bisnis Imaging, Perseroan dan Entitas Anak berfokus pada produk-produk yang mem-punyai margin tinggi dengan tetap melakukan ekspansi dibidang medical imaging. Secara lebih terperinci, aktivitas-aktivitas yang ditempuh unit usaha Perseroan ini mencakup hal-hal sebagai berikut:

Divisi Medical Imaging

Seiring peningkatan pertumbuhan ekonomi di In -donesia, peningkatan kelompok ekonomi menen-gah yang peduli dan sadar akan kesehatan menun-tut pelayanan kesehatan yang lebih baik dari penyedia layanan kesehatan baik itu Rumah Sakit maupun Laboratorium Klinik.

Penyedia fasilitas kesehatan yang terus mening-katkan prasarana fasilitas yang tersedia baik da-lam sisi jumlah maupun peningkatan kemampuan peralatan yang ada merupakan peluang bisnis bagi Perseroan sebagai penyedia fasilitas layanan teru-tama pada bagian peralatan radiologi.

PT MODERN INTERNASIONAL

In the field of Imaging business, the Company and its Subsidiary focuses on products that have high margin by keep in doing expansion in the field of medical imaging. In detail, the activities taken by the Company’s business units include the following:

Medical Imaging Division

Along with the economic growth in Indonesia, there’s also growth of middle income groups who are concerned and aware of the health, demanding better health care from both Hospital and the Clinical Laboratory.

Health facility providers continue to improve facility in-frastructure both in quantity and equipment capability and capacity. This brings opportunity to the Company as one of service providers especially in the area of radiolo-gy technoloradiolo-gy.

40

PT Modern Internasional Tbk

41

PT Modern Internasional Tbk

Annual Report 2016 Perseroan yang merupakan distributor dari

Fuji-Film Medical Imaging - Japan, Shimadzu Medical Imaging – Japan serta Dental Imaging dari Sirona Dental Company – Germany menyediakan pera -latan radiologi medical imaging dengan kapasitas besar maupun menengah guna dapat melayani kebutuhan-kebutuhan Rumah Sakit atau Klinik be -sar sampai Rumah Sakit atau Klinik dalam skala menengah dan kecil baik disektor swasta maupun pemerintahan.

Jenis produk yang fokus dipasarkan oleh divisi medical system yaitu :

Mobile X-Ray Unit Shimadzu General X-Ray Unit Shimadzu Radiography – Fluoroscopy System Shimadzu

Surgical C-Arm Shimadzu Angiography (CathLab) System Shimadzu

Computed Radiography System Fujifilm Digital Radiography System serta Radiology IT Solution PACS Fujifilm Dental Imaging Digital 2D & 3D Sirona Dental X-Ray Unit dan Digital sensor Sirona

The Company , as a sole distributor of FUJIFILM medical Imaging – Japan, Shimadzu Medical Imaging – Japan as well as Sirona Dental Company- Germany, provides ra-diology medical imaging equipment with mid and high capacity to cater the needs of hospitals and clinics both in private and government sectors.

Types of product market by the medical system division, among others:

Mobile X-ray Shimadzu unit General X-ray Shimadzu unit

Fluoroscopy and Angiography/Cath lab system from Shimadzu

Surgical C- Arm

Angiography ( CathLab) System Shimadzu Computed Radiography System Fujifilm Digital Radiography as well as PACS

(Picture Archiving & Communication system) from Fujifilm Japan

Digital Dental Imaging 2D & 3D Sirona X-ray Dental Unit, and Digital sensor from Sirona

Saat ini perkantoran modern sangat membutuh-kan solusi untuk mengembangmembutuh-kan sistem IT yang tepat bagi pengembangan bisnis serta memiliki nilai efisien yang maksimal dalam hal pengatur-an mpengatur-anajemen dokumen. Hal ini menjadi pelupengatur-ang bagi Perseroan untuk mengembangkan bisnis ke arah yang menguntungkan. PT Modern Data Solu -si sebagai entitas anak kemudian didirikan untuk menjawab peluang bisnis tersebut. Hingga saat ini, PT Modern Data Solusi dikenal sebagai penyedia solusi manajemen dokumen yang berbasis IT, se -curity dan networkingterkemuka di Indonesia. Entitas anak memiliki 3 Pilar Bisnis, antara lain :

PT MODERN DATA SOLUSI (MDS)

Nowadays modern office desperately need a solution to develop appropriate IT systems for business development and has maximum efficiency value in terms of document management settings. This became an opportunity for the Company to develop the business into a profitable direction. PT Modern Data Solutions as a subsidiary sub-sequently established to answer these business opportu-nities. Until now, PT Modern Data Solutions is known as a famous solution provider of IT-based document manage-ment, security and networking in Indonesia.

Subsidiaries have 3 Pillars of Business, among others :

Production Printing untuk melayani ke-butuhan cetak bagi para pelanggan graf-is dan digital printing dimana dgraf-isediakan line up yang lengkap dimulai dari Entry Level dengan Ricoh Pro C5100s , Mid Lev -el dengan Ricoh Pro C7100X dan High Lev -el dengan mod-el Ricoh Pro C9100s. Untuk mendukung kebutuhan cetak lebar Enti-tas Perusahaan menyediakan line up Wide Format sampai dengan ukuran A0 dengan Ricoh MPCW 2200 SP dengan teknologi Gel Jet terbaru. Untuk kebutuhan cetak lebar , Ricoh menyediakan teknologi tinta Latex yang sangat enviromental friendly Ricoh Pro L4160.

Production Printing to cater the needs of graphic and digital printing customers, where for those customers, MDS provides a complete product line up from Entry Level with RICOH Pro C5100s, Mid Level with RICOH Pro C5100s and High Level with RICOH Pro C9100s. The support the needs for wide printing, MDS provide Wide Format prod-uct line up with A0 size with RICOH MPCW2200 SP with the new Gel Jet Technology. Also for this wide format printing needs, MDS offers latest la-tex ink technology which compatible with RICOH Pro L4160, which also environmental friendly.

42

PT Modern Internasional Tbk

Multi Function Product (MFP) dengan target perkantoran, jaringan Rumah Sakit, Jarin -gan perbankan, den-gan menyediakan jasa document dan office solution, yaitu produk baik piranti keras (hardware) maupun pi-ranti lunak (software). Pipi-ranti untuk office solution meliputi piranti lunak yang digu-nakan untuk Cost Recovery, CostAccount -ing, Optical Character Recoqnition, Mobile Printing, Document Managemen System, FaxAdvance Management, Mobile Device Printing, dan lain sebagainya.

Produk-produk lainnya meliputi: GW + Key -board Usage, USB Print & Scan, Tilt LCD (Disable Support), SD-Card Support untuk scan danprint, Air Print Direct Print Feature with iOS Device (iPad dan iPhone), IT In -frastructure & services, GSS New System, Graphic Ordering Tablet, dan Hand Held Ter -minal.

Multi Function Product (MFP) which targets of-fices, Hospital and Bank Offices Network, Bank Offices, Hospital Networks, and Banking Net-works by providing document and office solu-tion service in the form of both hardware and software products. Software products for office solution includes one used for Cost Recovery, Cost Accounting, Optical Character Recognition, Mobile Printing, Document Management Sys-tem, Fax Advance Management, Mobile Device Printing, and others.

Other products such as: GW + Keyboard Usage, USB Print & Scan, Tilt LCD (Disable Support), SD-Card Support for scanning & printing, Air Print, Direct Print Feature with iOS Device (iPad & iPhone), IT Infrastructure & Services, GSS New System, Graphic Ordering Tablet, and Hand Held Terminal.

43

PT Modern Internasional Tbk

V I S I DA N M I S I

V I S I O N A N D M I S S I O N

Visi/

Vision

Keep Fighting & Win

Misi/Mission

Repositioning Business

Reinvent Business

Reengineering Business Process

Right Sizing

Resource Allocation

Restructure Organization

Mereposisi bisnis Perseroan untuk fokus pada bisnis ritel dan Indus -tri Imaging.

Repositioning the Company’s business to focus on retail business and Imag-ing Industry.

Menata ulang strategi bisnis melalui direct distribution system (sistem distribusi langsung) dan marketing strategy (strategi pe-masaran).

Reinventing business system through direct distribution system and mar-keting strategy.

Melakukan perubahan sistem dan prosedur menjadi lebih singkat, cepat, tepat, agar keputusan dapat dijalankan dengan cepat dan efisien.

Making changes to systems and procedures to be shorter, faster, accurate, so that decisions can be implemented quickly and efficiently.

Menata ulang biaya-biaya Perseroan agar tepat dan sesuai dengan pemasukan, prioritas dan potensi bisnis Perseroan.

Rearranging the Company’s business expenses to match its revenues, priori-ties, and business potentials.

Menata ulang alokasi sumber daya (manusia, dana, dan waktu) un -tuk bisnis-bisnis dan unit usaha yang berpotensi un-tuk meningkat-kan kinerja Perseroan.

Rearranging resources allocation (human, fund, and time) for potential busi-ness units which can improve the Company’s performance.

Menata kembali struktur organisasi perusahaan, menempatkan sumber daya manusia yang tepat pada tempatnya dan dalam jum-lah yang tepat sehingga struktur organisasi akan efisien dan non bi-rokratik.

Rearranging the organizational structure of the Company, placing human re-sources in the right place and at an adequate number, resulting in efficient and non-bureaucratic organization structure.

44

PT Modern Internasional Tbk

45

PT Modern Internasional Tbk

Annual Report 2016

S T RU K T U R

O RG A N I S A S I

O RG A N I Z AT I O N

S T RU C T U R E

Komisaris Utama

President Commissioner

Komisaris

Commissioner

Sekertaris Perusahaan

Corporate Secretary

Direktur Bisnis & Operasi

Business & Operation Director

Komisaris Independen

Independent Commmissioner

Internal Audit

Internal Audit Unit

Direktur Keuangan

Financial Director

Komite Audit

Audit Committee

Direktur Utama

President Director

Direktur Pemasaran

PROFIL DEWAN KOMISARIS

BOARD OF COMMISSIONERS

PROFILE

Achmad Fauzi Hasan

Komisaris Utama

President Commissioner

Warga negara Indonesia, 63 tahun. Menjabat Ko -misaris Utama sejak 26 Juni 2007. Achmad Fauzi Hasan pernah menjabat sebagai Dewan Komisaris Independen Perseroan hingga 2012. Beliau mulai bergabung dalam kepengurusan Perseroan di ta-hun 1990 sebagai Direktur dan pada 2007 diang -kat menjadi Dewan Komisaris Utama Perseroan. Sebelumnya pernah merintis karir dibidang ma-najemen Keuangan dan Akunting Bank Dagang Negara yang bertempat di Kantor Pusat Urusan Luar Negeri dari tahun 1974 hingga 1980. Beliau juga pernah mengemban tanggung jawab menjadi Cost Accountant di perusahaan Farmasi Nordmark, Werke Gmbh pada tahun 1980 hingga 1981, dilan-jutkan pada tahun 1981 hingga 1982 menjabat se-bagai Accountant di PT Broken Hill Pty Indonesia. Pria kelahiran Cirebon tahun 1953 ini juga pernah mengembangkan karirnya di PT Richardson – Vicks Indonesia pada tahun 1982 hingga 1988, menjabat sebagai Accounts Manager dan Finance Manager PT Bhumyamca Sekawan (Sime Darby Group Asso -ciate) pada tahun 1988 hingga 1990. Beliau meraih gelar Sarjana di bidang Ekonomi Perusahaan dari Universitas Krisnadwipayana ditahun 1980.

Indonesian Citizen, age 63. Appointed as President Com-missioner since June 26, 2007. Achmad Fauzi Hasan has served as the Company’s Independent Commissioner until 2012. He began to join the Company’s management in1990 as Director and in 2007 He was appointed as the Company’s President Commissioner. His previous career is in the field of Financial Management and Accounting of Bank Dagang Negara which is housed at the Central Office for Foreign Affairs from 1974 to 1980. He used to be Cost Accountant at Pharmaceutical Nordmark, Werke Gmbh in 1980 to 1981, continued in 1981 to 1982 as Accoun-tant at PT Broken Hill Pty Indonesia. The man who was born in 1953 in Cirebon also began his career in Richard-son – Vicks Indonesia in 1982 until 1988, he served as Ac-counts Manager and Finance Manager of PT Bhumyamca Sekawan (Sime Darby Group Associate), in 1988- 1990. He pursued his Bachelor Degree of Corporate Economy from Krisnadwipayana University in 1980.

46

PT Modern Internasional Tbk

These Consolidated Financial Statements are originally issued in Indonesian language

š

k

shibit E/ 100

Exhibit E/100

PT MODERN INTERNASIONAL Tbk DAN ENTITAS ANAK

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN

UNTUK TAHUN YANG BERAKHIR PADA

31 DESEMBER 2016

(Disajikan dalam Rupiah, kecuali dinyatakan lain)

PT MODERN INTERNASIONAL Tbk AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2016

(Expressed in Rupiah, unless otherwise stated)

38.

REKLASIFIKASI

38.

RECLASSIFICATIONS

Akun tertentu pada laporan posisi keuangan

konsolidasian tanggal 31 Desember 2015 dan 2014

telah direklasifikasi untuk menyesuaikan dengan

penyajian laporan keuangan konsolidasian pada

tanggal 31 Desember 2016.

Certain accounts in the consolidated statements of

financial position as of 31 December 2015 and 2014

have been reclassified to conform with the

consolidated financial statements presentation as

of 31 December 2016.

31 Desember 2015

Sebelum reklasifikasi/

Before

reclassification ReclassificationReklasifikasi/

Sesudah reklasifikasi/

After

reclassification 31 December 2015 Laporan posisi keuangan

konsolidasian Consolidated statement offinancial position

Piutang usaha Trade receivables

Pihak ketiga 129.921.152.778 310.399.004 130.231.551.782 Third parties

Pihak berelasi 310.399.004 ( 310.399.004) - Related party

Aset tetap 1.113.195.045.149 375.759.419.361 1.488.954.464.510 Property, plant and equipment

Beban renovasi bangunan

sewa, neto 375.759.419.361 ( 375.759.419.361) - Renovation cost of rentedbuildings, net

Beban tangguhan, neto 56.097.353.031 ( 56.097.353.031) - Deferred charges, net

Aset tak berwujud - 56.097.353.031 56.097.353.031 Intangible assets

Utang lain-lain Other payables

Pihak ketiga 18.886.202.227 566.342.735 19.452.544.962 Third parties

Pihak berelasi 566.342.735 ( 566.342.735) - Related parties

Biaya yang masih harus

dibayar 27.329.535.943 3.942.000.781 31.271.536.724 Accrued expenses

Liabilitas imbalan kerja

jangka pendek 3.942.000.781 ( 3.942.000.781) - Short-term employee benefitsliability

Bagian liabilitas jangka panjang yang jatuh tempo

dalam waktu satu tahun: Current portion of long-termLiabilities:

Non-bank - Pihak berelasi - 677.736.303 677.736.303 Non-bank - Related party

Utang sewa pembiayaan Finance lease liabilities

Pihak ketiga 15.502.760.283 ( 107.724.672) 15.395.035.611 Third parties

Pembiayaan konsumen 570.011.631 ( 570.011.631) - Consumer finance

Cadangan kerugian penurunan nilai

persedian - 353.861.967 353.861.967 Provision of inventory

Utang jangka panjang, setelah dikurangi bagian jatuh tempo dalam satu

tahun: Long-term liabilities net ofcurrent portion:

Non-bank Pihak berelasi - 2.460.892.969 2.460.892.969 Non-bank - Related party

Utang sewa pembiayaan Finance lease liabilities

Pihak ketiga 14.117.406.014 ( 2.293.152.206) 11.824.253.808 Third parties

Pembiayaan konsumen 167.740.763 ( 167.740.763) - Consumer finance

Saldo laba Retained earnings

Belum ditentukan

penggunaannya 134.002.039.580 13.265.552.222 147.267.591.802 Unappropriated

Penghasilan komprehensif

lainnya 13.265.552.222 ( 13.265.552.222) - Other comprehensive income Laporan laba rugi dan

penghasilan komprehensif lain konsolidasian

Consolidated statement of profir or loss and other

comprehensive income

Beban umum dan

administrasi 428.455.494.431 ( 353.861.967) 428.101.632.464 General and administrativeexpense

These Consolidated Financial Statements are originally issued in Indonesian language

›

k

shibit E/ 101

Exhibit E/101

PT MODERN INTERNASIONAL Tbk DAN ENTITAS ANAK

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN

UNTUK TAHUN YANG BERAKHIR PADA

31 DESEMBER 2016

(Disajikan dalam Rupiah, kecuali dinyatakan lain)

PT MODERN INTERNASIONAL Tbk AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2016

(Expressed in Rupiah, unless otherwise stated)

38.

REKLASIFIKASI

(Lanjutan)

38.

RECLASSIFICATIONS

(Continued)

31 Desember 2014

Sebelum reklasifikasi/

Before

reclassification ReclassificationReklasifikasi/

Sesudah reklasifikasi/

After

reclassification 31 December 2014 Laporan posisi keuangan

konsolidasian Consolidated statement offinancial position

Piutang usaha Trade receivables

Pihak ketiga 137.248.969.032 1.015.618.706 138.264.587.738 Third parties

Pihak berelasi 1.015.618.706 ( 1.015.618.706) - Related party

Aset tetap 1.055.682.520.057 226.160.697.581 1.281.843.217.638 Property, plant and equipment

Beban renovasi bangunan

sewa, neto 226.160.697.581 ( 226.160.697.581) - Renovation cost of rentedbuildings, net

Beban tangguhan, neto 57.756.278.686 ( 57.756.278.686) - Deferred charges, net

Aset tak berwujud - 57.756.278.686 57.756.278.686 Intangible assets

Utang usaha Trade payables

Pihak ketiga 69.299.086.235 93.181.851 69.392.268.086 Third parties

Pihak berelasi 93.181.851 ( 93.181.851) - Related parties

Utang lain-lain Other payables

Pihak ketiga 17.025.909.934 1.040.810.600 18.066.720.534 Third parties

Pihak berelasi 1.040.810.600 ( 1.040.810.600) - Related parties

Biaya yang masih harus

dibayar 14.751.953.967 4.741.250.306 19.493.204.273 Accrued expenses

Liabilitas imbalan kerja

jangka pendek 4.741.250.306 ( 4.741.250.306) - Short-term employee benefitsliability

Bagian liabilitas jangka panjang yang jatuh tempo

dalam waktu satu tahun: Current portion of long-termliabilities

Utang sewa pembiayaan Finance lease liabilities

Pihak ketiga 13.751.195.908 973.546.062 14.724.741.970 Third parties

Pembiayaan konsumen 973.546.062 ( 973.546.062) - Consumer finance

Utang jangka panjang, setelah dikurangi bagian jatuh tempo dalam satu

tahun: Long-term liabilities net ofcurrent portion:

Utang sewa pembiayaan Finance lease liabilities

Pihak ketiga 10.795.873.060 737.752.393 11.533.625.453 Third parties

Pembiayaan konsumen 737.752.393 ( 737.752.393) - Consumer finance

Saldo laba Retained earnings

Belum ditentukan

penggunaannya 192.426.172.253 5.006.553.722 197.432.725.975 Unappropriated

Penghasilan komprehensif

lainnya 5.006.553.722 ( 5.006.553.722) - Other comprehensive income

39.

PERISTIWA

SETELAH

PERIODE

LAPORAN

KEUANGAN

39.

EVENTS AFTER THE REPORTING PERIOD

a. Pada tanggal 19 April 2017, MSI menandatangani

Perjanjian Akuisisi Bisnis bersama dengan

PT Charoen Pokphand Restu Indonesia (CPRI).

Berdasarkan perjanjian tersebut, MSI bersedia

menjual bisnis dan aset yang bersangkutan

dengan 7-Eleven ke CPRI dengan ketentuan

kondisi tertentu.

a. On 19 April 2017, MSI entered into a Business

Acquisition

Agreement

together

with

PT Charoen Pokphand Restu Indonesia (CPRI).

Based on the agreement, MSI is willing to sell its

7-Eleven business and the relevant assets to

CPRI subject to certain conditions.

b. Sampai dengan tanggal penyelesaian atas

laporan keuangan konsolidasian terdapat 46

outlet

7-Eleven yang ditutup dikarenakan

kerugian terus menerus. Grup mengakui

penurunan nilai berkaitan dengan penutupan

toko-toko tersebut.

b. Up to completion date of the consolidated

financial statements, there are 46 7-eleven

outlets which were closed due to continuing

losses. The Group recognize impairment loss

related to the closed stores.

These Consolidated Financial Statements are originally issued in Indonesian language

œ

k

shibit E/ 102

Exhibit E/102

PT MODERN INTERNASIONAL Tbk DAN ENTITAS ANAK

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN

UNTUK TAHUN YANG BERAKHIR PADA

31 DESEMBER 2016

(Disajikan dalam Rupiah, kecuali dinyatakan lain)

PT MODERN INTERNASIONAL Tbk AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2016

(Expressed in Rupiah, unless otherwise stated)

40.

PENYELESAIAN ATAS LAPORAN KEUANGAN

KONSOLIDASIAN

40.

COMPLETION OF THE CONSOLIDATED FINANCIAL

STATEMENTS

Manajemen Grup bertanggung jawab atas

penyusunan dan penyajian laporan keuangan

konsolidasian yang diselesaikan dan disetujui untuk

diterbitkan oleh Direksi Perusahaan pada tanggal

12 Mei 2017.

The Group management is responsible for the

preparation and presentation of the consolidated

financial statements which were completed and

authorized for issuance by the Company s Directors

on 12 May 2017.