Tantangan dan Prospek Usaha 2018 Perekonomian global tahun 2018 berada dalam tren

Tantangan dan Prospek Usaha 2018 Perekonomian global tahun 2018 berada dalam tren

pemulihan. Pada bulan Januari 2018, Bank Dunia menaikkan perkiraan pertumbuhan ekonomi global menjadi 3,1%, naik 0,2% dari prediksi yang dibuat pada pertengahan tahun 2017. Perang dagang antara Amerika Serikat dan China diperkirakan tidak berdampak signifikan pada perekonomian dalam negeri mengingat proporsi nilai ekspor Indonesia terhadap total Produk Domestik Bruto (PDB) yang tidak terlalu besar.

Di dalam negeri, 171 Pilkada di berbagai provinsi, kabupaten dan kota akan menjadi ‘suntikan likuiditas’ bagi perekonomian yang akan meningkatkan kegiatan perekonomian domestik. Perseroan menilai asumsi-asumsi ekonomi makro Indonesia dalam Rencana Kerja dan Anggaran Tahunan (RKAT) 2018 BEI cukup optimis namun tetap realistis, dan sejalan dengan pandangan Perseroan.

Di tengah relatif rendahnya tingkat suku bunga pasar, dan maraknya penerbitan obligasi korporasi sepanjang kuartal

I 2018 ini, Perseroan optimis penerbitan obligasi korporasi sepanjang tahun 2018 akan tetap menarik. Bahkan Divisi Research Perseroan memperkirakan nilai penerbitan obligasi korporasi di tahun 2018 berpotensi mencapai Rp175 triliun. Dalam IPO saham, Perseroan menilai target BEI sejumlah

35 transaksi IPO saham di tahun 2018 cukup realistis, dan realisasinya mungkin akan kembali melampaui target.

Authority (OJK) and Center of Financial Transaction Reporting and Analysis (PPATK) to represent Indonesia’s capital market industry in “Indonesia On-Site Visit for Mutual Evaluation Review 2017, held as preparation for Indonesia to join as member of Financial Action Task Force (FATF).

To strengthen the Company’s Management, in the Annual General Meetings of Shareholders on June 8, 2017 the shareholders have approved to appoint Mr. Thomas Kristian Husted as Commissioner / Independent Commissioner of the Company. On behalf of the Board of Directors, I warmly welcome the Board of Commissioners enhancement and expect a better synergy between the Board of Directos and Board of Commissioners in developing the Company, both in business and corporate governance aspects.

To increase the competency and as the Company’s compliance to the prevailing regulation, in 2017 all of the Board of Directors members participated in Continuous Education Program for the Board of Commissioners and the Board of Directors of Securities Company who operates as Underwriting and/or Broker-dealer held by Indonesia Securities Company Association.

Business Challenge and Prospect 2018 In 2018, the global economy is in a recovery trend.

In January 2018, the World Bank increased global economic growth projection to 3.1%, increased 0.2% from the projection released at mid-2017. The trade war between the United States and China is estimated not to cause significant impact on the domestic economy considering the relatively low proportion of Indonesia’s export value to the total Gross Domestic Product (GDP).

At the domestic side, 171 local elections in some provinces, regencies and cities will become a ‘liquidity injection’ for the economy that will raise domestic economic activity. The Company view that the Indonesia’s macroeconomic assumptions in the 2018 Annual Budget and Work Plan (RKAT) of the IDX are quite optimistic but realistic, and in line with the Company’s view.

In the midst of low market interest rate and rapid corporate bonds issuance in the 1 st quarter of 2018, the Company is optimistic that the corporate bond issuance throughout 2018 will still be attractive. Even the Company’s Research Division estimates that the value corporate bonds issuance in 2018 may potentially reach Rp175 trillion. The Company also views that the target of IDX of 35 IPO transactions in 2018 is realistic, and the realization may again exceed the target.

MANAGEMENT DISCUSSION & ANALYSIS

CORPORATE GOVERNANCE

CSR AND FINANCIAL LITERACY EDUCATION

INTRODUCTION

REPORT FROM THE

Laporan Direksi

Report from the Board of Directors Di tahun 2018, BEI juga menargetkan nilai perdagangan

In 2018, the IDX also targets higher average daily equity saham harian rata-rata yang lebih tinggi lagi, yaitu trading value of Rp9 trillion, increase by around 18%

Rp9 triliun, meningkat sekiar 18% dari Rp7,6 triliun di tahun from Rp7.6 trillion in 2017. We are optimistic that the 2017. Kami optimis pasar saham masih tetap akan tumbuh,

stock market will still be growing, and the Company’s dan Research Perseroan memproyeksikan IHSG berpotensi

Research estimates that the JCI potentially reaches 6,700 at mencapai 6.700 di akhir tahun 2018.

the end of 2018.

Di industri reksa dana, dengan outlook ekonomi makro In mutual funds industry, with positive outlook of the Indonesia dan IHSG yang tetap positif, serta tingkat

Indonesia’s macro economy and JCI, as well as increasing pemahaman masyarakat mengenai pasar modal yang terus

public understanding in the capital market, the Company is meningkat, Perseroan optimis dana kelolaan industri reksa

optimistic that the asset under management of mutual funds dana juga akan terus meningkat di tahun 2018.

industry will continue to increase in 2018. Sebagai bagian dari upaya Perseroan untuk semakin

As part of the Company’s effort to further strengthen the memperkuat struktur pendanaan, Perseroan berencana

funding structure, the Company plans to issue medium-term menerbitkan surat utang jangka menengah (MTN) di kuartal

notes (MTN) in 2nd quarter of 2018. As part of the plan,

II 2018. Sebagai bagian dari rencana tersebut, PT Pemeringkat PT Pemeringkat Efek Indonesia has granted “idA” rating Efek Indonesia telah memberikan peringkat “idA” dengan

with “stable” outlook for the Company and the MTN to be prospek “stabil” kepada Perseroan dan MTN yang akan

issued.

diterbitkan. Atas kinerja selama tahun 2017, Direksi menyampaikan

For the performance achieved in 2017, the Board of terima kasih dan penghargaan kepada seluruh Manajemen

Directors would like to express appreciation and gratitude dan karyawan Trimegah atas komitmen dan dedikasinya,

to all Management and employees of Trimegah for the sehingga rencana-rencana Perseroan dapat dilaksanakan

commitment and dedication, to execute the Company’s dengan baik, serta menghasilkan kinerja yang memuaskan.

plans very well, and achieve satisfying performance. The Direksi juga berterima kasih kepada Dewan Komisaris atas

Board of Directors also thanks the Board of Commissioners pengawasan dan arahan yang diberikan selama tahun 2017.

for the supervision and direction given throughout 2017. Kepada pemegang saham, kami menyampaikan terima kasih

To our shareholders, we would like to thank for the trust atas kepercayaan dan dukungan yang diberikan, dan kami

and support given to us, and we hope this good relationship berharap hubungan yang baik dapat terus dipertahankan

will sustain in the future. Last but not least, our appreciation di masa yang akan datang. Terakhir, apresiasi kami kepada

is also addressed to all clients and partners of Trimegah for seluruh nasabah dan mitra Trimegah atas setiap kepercayaan

the every trust and loyalty to us. We hope this favorable dan loyalitas kepada kami. Kami berharap dukungan yang

support will remain in the future.

sangat baik ini akan terus hadir di masa yang akan datang. Atas nama Direksi,

On Behalf of the Board of Directors,