Presentasi Perusahaan - ASSA Rent
PT ADI SARANA ARMADA
TBK
PUBLIC EXPOSE
September 18th, 2014
Table of Content
1
Overview
of PT Adi Sarana Armada Tbk (“ASSA”)
2Investment
Highlights
3Business
Strategies
4 Business
Prospect
5Financial
Highlights
2
1
Overview
of PT Adi Sarana Armada Tbk (“ASSA”)
3
Milestone
2007 June.
Organization &
Business
Restructuring
Focus on IT
Investment to
support
business
Operating
around
2,000
2006
May.
rental unit
Established
ADIRA
Logistics
Service
2008 February.
Launched iSTAR
system
2008
Launched 6
(six) new
branches in
Malang,
Pekanbaru,Bata
m, Manado,
Bali and
200
200
Semarang
8
2003 January.
Start
Operational
as ADIRA
Rent
800++
rental units
2004
October.
Established
ADIRA Driver
Services
9
2009
February.
Obtained
ISO
9001:2000
2010 October.
Change Company’s Brand
from
ADIRA into ASSA
201
0
2011
2011 July.
Obtained ISO
9001:2008
2011
August.
Obtained ISO
201114001:2004
September.
Obtained Ohsas
18001:2007
2011
February.
Start Galeri Mobil as
used car business unit
2011 June.
Receive IMAC Award
as Indonesia’s Most
Admired Companies
2011 March.
Receive ReBi Award
as Highest Growth
Indonesia Rental Car
Company
2011 November.
Receive Indonesia
Excellence Award
as Emerging
Logistics Service
Provider of the Year
2012
2012 April.
Receive ReBi Award
as Highest Growth
Indonesia Rental Car
Company
2012 June.
Receive IMAC
Award
as Indonesia’s
Most Admired
2012
Companies
November.
GO Public –
Listed in IDX
2013 February.
Receive Top
Brand Award for
car rental
category
2013 March.
Receive Contact
Center Service
Excellence Award
for call center
category
2013 November
Obtained ISO
9001, ISO 14001,
OHSAS 18001 &
UKAS
2013
2013 December
Receive
Indonesia Best
Corporate
Transformation
2013
Receive
Indonesia Good
Corporate
2013Governance
December.
Awardrental
2013
12,937
units
2,600++
drivers
2014
Established
BidWin
(Automotive
Auction)
Target fleet:
15000++
rental units
2014
Receive Corporate
Image Award
2014, car rental
category
Receive The Best
Contact Center
Indonesia 2014
(Platinum category
for Supervisor)
Receive Service
Quality Award
2014 for car rental
category
Line of Business
14,095++ rental unit
18 branch offices
Rental
600++ logistic unit
8 operational point
100++ car unit capacity
2 Showroom
Logistic
ASSA Rent provides
long term car rental
service that includes
package with
monthly periods (at
least 1 month) and
annually. These
services help your
companies in
managing
transportation needs,
both for operations
and vehicles for the
management team.
ASSA also provides
integrated logistics
services to fulfill your
company needs of
transportation
management through
route optimization,
delivery management,
setting delivery times,
and the application of
risk management in
accordance with best
practice industry
standards.
ASSA Rent short term
rental service includes
daily and weekly
rental packages to
accommodate
business travel,
personal agenda, and
ASSA Logistics is
intended to meet the
needs of customers in
supply chain
management to
provide qualified goods
storage facilities
Used Car
Galeri Mobil engages
in trading (buyingselling)
of
high
quality used cars by
wholesale and retail
2,600++ drivers
SMART Driver
Driver
Service
ASSA Driver
Services was
established to meet
customer needs of
driver for operating
vehicle rented from
ASSA Rent or
ASSA Logistics.
Thus ASSA Driver
Services, which
currently managing
more than 2,500
personnel, strive to
provide qualified
professional driver
with high skills
through training and
good coaching.
1 Auction site
Used Car Auction
Bidwin was
established in mid
2014. Currently we
auction around 200
units per month,
and we also have
network of 500
used car dealer
across the nation.
The size of our
operation site in
Jakarta is
approximately 2.7
hectare
5
Business Highlights
Market
Leader
The Business
Leading
corporate car
rental in
Indonesia
Corporate
Transportation
and Integrated
Logistic Solution
Provider, and
related
value
*)Company
estimate
chain
No. 2 corporate
car rental in
Indonesia based
on numbers of
rental unit*)
14,095++ rental
unit
Vision
To be the Best Corporate
Transportation
& Integrated Logistic Solution
Provider
Mission
“We dedicate ourselves in
maximizing
& serving through a commitment
that leads the organization to
highest levels of quality, customer
care, employee engagement &
shareholder value”
Nationwide
Nationwide
coverage
18 branch
offices
8 logistic
operation points
2 used car
outlets
597++
authorized
service centers
2,600++ drivers
Prestigious
Customers
Robust 1H2014
Financial
Diversified
industry of
customers
significant
portion of
customer which
is leader in their
industry
Revenue : IDR 531.35
bn
EBITDA : IDR 232.1 bn
Net Income : IDR 26.9
bn
Value
Spirit of unity
Perfection in all we do
Empathic communication
Enjoyable working environment
Discipline and integrity
6
Corporate Structure
(TP Rachmat and Family)
50.08%
PT Adi
Dinamika
Investindo
24.94%
PT Daya
Adicipta
Mustika
TP Rachmat
PT Plaza
Auto Mitra
Management
5.97%
4.58%
12.19%
19.17%
Public
33.51%
PT Adi Sarana
Armada Tbk
99.80%
PT Duta Mitra
Solusindo *)
99.50%
PT Adi Sarana
Logistik **)
99%
PT Adi Sarana
Lelang***)
*) PT Duta Mitra Solusindo operates ASSA Driver Service
**) Established on July 2012 to handle ASSA Logistic Service
As of March 31st 2014
***)Established on June 2014 to handle Bidwin Auction Service
7
Board of Commissioners & Directors
Board of Commissioners – Strong Focus on Corporate Governance
Hadi Kasim
President
Commissioner
Thomas H.
Setjokusumo
Independent
Commissioner
Board of Directors – Committed to Shareholder Value Creation
Rudyanto
Hardjanto
Commissioner
Prodjo
Sunarjanto
President
Director
Jany Candra
Business &
Services
Director
Hindra Tanujaya
Finance Director
Maickel Tilon
Operational Director
Rallyati A. Wibowo
Logistic & GA Directo
(Un-affiliated Directo
ASSA is run by a dedicated team of professionals, the majority of which had
relevant experience of over 10 years.
8
Triputra Group
Triputra Group is one of Indonesia’s leading Business groups, owned by Mr. TP Rachmat, who
previously worked with Astra Group for over 30 years including 16 years as the CEO and 6
years as Commissioner of PT Astra International Tbk.
Triputra Group was voted as one of the Top 10 Business Groups in Indonesia based on a
survey by Globe Asia 2011.
Kirana Megatara
Largest Crumb Rubber Processor
Padang Karunia Group
A Group of Mining Companies
Numerous Subsidiaries in
Mining, Infrastructure, Trading &
Contractor companies
Dharma Group
Metal Based manufacturing
Companies
Binabusana Internusa
Garment and Apparel Manufacturers
Lemindo Abadi Jaya
Adhesive Manufacturer & Exporter
and with a diversified portfolio in
Chemical Products
Assa Rent
2nd Largest Indonesian Corporate
Car Rental
Trading and Services
Triputra Agro Persada
Palm Oil Producer
Manufacturing
Mining
Agro
Business
Pako Group
Producer & Exporter of Steel & Alloy
wheel rims
Daya Adicipta Mustika
Honda Motorcycle Dealer
Daya Motor
Motorcycle Retailer
Puninar Logistics
Logistics Solutions Provider
Bank Sahabat Purbadanta
Microfinance services
9
2Investment
Highlights
10
1Leading Indonesian corporate rental company
Strategically Positioned to Meet
Indonesian Market
Rental
#2 in the market *)
14,095++ rental unit
18 branch offices
*)
Logistic
600++ logistic unit
8 operational point
Used Car
Driver
Service
100++ car unit capacity 2,600++ drivers
2 Showroom
SMART Driver
Company estimate based
on numbers of unit
Indonesia is one of the largest
market for automotive industry in
Asia
Large demand driven by corporate
segment still could not fulfilled by
Indonesian rental companies
Increasing corporate policy to
outsource its vehicles
Why Companies Prefer to Rent ?
• No need for Down payment
• Companies can focus on its core
business
• Risk transfer for insurance, vehicle
maintenance, human resources,
depreciation
As Indonesia’s leading corporate
rental company, ASSA is
strategically positioned to
benefit from the robust growth in
car rental market in Indonesia,
especially corporate segment
12
1Leading Indonesian corporate rental company
Fast-Growing Company in the Industry
(Rental Units)
16000
14000
12000
CA
10000
GR
31
.
%
81
12937
10969
6000
4158
35000
14095
30000
25000
8894
20000
35000
7049
8000
4000
7
(0
3)
-1
(Fleet size 2014)
15000
4972
10000
14095
5000
2463
2000
14000
8000
0
R1
ASSA
Source: Company Website
0
2007
2008
2009
2010
2011
2012
2013
R2
R3
8M2014
14,095++ vehicles and going strong (as of today)
Regardless of a significant number of players, the opportunity for growth is still enormous for
ASSA to capture.
ASSA does not have to win price wars, because this will only lower the quality of services
provided
ASSA wins by differentiating its range of products and increasing further the quality of services it
provides.
The increased market share, brand recognition of ASSA, and efficient operation management,
speaks for itself of the successful direction of ASSA.
Car Rental Company
with The Highest
Growth Record in
Indonesia (2011-2012)
13
1Leading Indonesian corporate rental company
Proven Business Performance
Historical per year Fleet utilization
ratio
93.1
In Percentage (%)
Revenue Contribution
In IDR million
92.6
92
92.2
92.2
100%
91.4
90%
80%
392,37
8
567,41
3
8.89%
9.51%
13.71%
14.69%
793,86
2
1,018,8
83
531,355
12.33%
13.96%
14.22%
18.59%
19.70%
13.82%
69.08%
66.34%
2012
2013
Used Car
Rent
70%
2009
2010
2011
2012
2013
1H2014
The dedicated and experienced
management and staff ,can estimate
and maintain a high Utilization ratio
(average at 90%).
60%
50%
40%
77.40%
75.80%
2010
2011
30%
71.96%
20%
A high Utilization rate is key to cost
effectiveness and higher profitability. As
the operations span the Indonesian
country, ASSA is strategically positioned
to facilitate better services and has the
ability to quickly respond to new orders.
Car Rental Services still contributes
approximately 80% of total revenue for
the last 5 (five) years. However ASSA’s
other line of business, also booked
strong revenue growth.
10%
0%
Logistic
1H2014
ASSA’s fleet expansion not only translates into
robust revenue growth from its Car Rental
Services, but also provides future income from
Used Car Sales Services.
14
1Leading Indonesian corporate rental company
Excellent Vehicle Portfolio Mix
Fleet Composition by Type of
Vehicle
As of 1H2014, Total Unit: 14,095 Vehicle
Fleet Composition by
Vehicle Age
Older than 5 years;
4-5 years; 4.58% 4.01%
6years
25%
1000
1 - 3years
20%
518
500
402
400
300
200
560
211
235
2008
2009
137
100
>3 - 6 years
40%
0
2007
2010
2011
2012
2013
1H2014
Strong Relationship with high quality corporate customers
16
Focus
2 on long term base customer to secure contracts
Secure Long Term Contract with
Strong
track record for
long term contract with its major customers
Corporate
Customer
Top Customer
Over 800 corporate customers with
secure and flexible long term
contract for ASSA side
1.3 trn IDR outstanding contract until
2020
Prestigious corporate customers
Contribution from Top Customer by
Fleet Size
As of August 2014
17
Customer
3 oriented corporate culture to provide best quality of service and achieve high customer satisfaction
Customer oriented corporate culture to provide highest
quality of service
AQUCARE
Appearance, Quick Response,
Understanding Customer,
Courtesy, Accuracy, Right
Solutions and Easy to Access
SMART driver
SPEED
Spirit of unity, Perfection in all we do, Empathic communication, Enjoyable working
environment, Discipline and integrity
donesia Emerging Domestic Logistics
Indonesia’s Most Admired
Service Provider of the Year
Companies
(Frost & Sullivan - 2011)
Category Car Rental Company
(Bloomberg Business Week &
Frontier 2011 & 2012)
ISO 9001
Indonesia’s Trusted Company based on ISO 14001
Good Corporate Governance Index OHSAS 18001
UKAS
18
Deep
4 and nationwide coverage supported by customized IT platform
Deep and Nationwide Coverage
We combine technical skills with marketing excellence.
Our extensive geographical coverage is a key factor to our
success.
Through geographical research, discipline and experience
in strategy implementation, we can place our excellent and
trained sales force and branches where it matters to our
clients.
18 Branch & 16 Affiliated Offices
597++ Authorized Service Centers
24/7 Support & Emergency Road Assistance
Fleet size by City
Growth in Branch
As of September 2014
# of Branch
Solo; 474 Bali; 637 Balikpapan ; 661
Lampung; 486Semarang ; 527
Surabaya; 1578 Bandung ; 1015
Banjarmasin; 577
Semarang ; 906
Jakarta1; 1233
Pekanbaru ; 911
Jakarta2; 1419
Palembang; 858 Jakarta3; 923
Medan ; 1675 Makassar; 1121
19
Deep
4 and nationwide coverage supported by customized IT platform
Upgrading Our IT Platform to SAP
One of the company’s breakthrough in escalating
operational process quality is by forming a customized IT
platform called iSTAR or Integrated System Technology
ASSA Rent, which integrates whole company’s aspects,
from front to back end processes.
As our company gets bigger and business development
becoming more complicated, we see the necessity for us
to upgrade our operating system from iStar to SAP. With a
strong and proven IT platform, we believe it will benefit
the development of our business in the long run.
20
Deep
4 and nationwide coverage supported by customized IT platform
Seamless Business Technology
Integration
(3) . Service
Delivery
(1.a) Preventive
Maintenance Call
3rd Party
Workshop
(2) . Dispatch
Order
Call Center
(1.b) Service Request
(5) Service
Recovery
Order if
Needed
ASSA Branches
(4) . Customer Satisfaction
Confirmation Call
CUSTOMIZED IT SYSTEM
ASSA Service
Point
SERVICE OREIENTED CULTURE
5 Experienced Management Team
Experienced Management Team
Prodjo
Sunarjanto
Current position since 2011,
Working Experience in Industry: 21 Years
Previously held position: CEO PT Astra International – Toyota Sales Operation
Auto 2000 (2005-2010), Commissioner PT Serasi Autoraya (2006-2007),
President Commissioner PT Toyo Fuji Logistic (2005-2007), Director Astra Mitra
Ventura (2000-2005), President Director PT Serasi Autoraya (1994-2005),
General Manager PT Serasi Autoraya (1991-1994)
Current position since 2007,
Working Experience in Industry : 21 Years
Previously held position: Operational General Manager Mobil’88 (PT Astra
International – Used Car) (2006-2007), Accounting and Finance General
Manager PT Serasi Autoraya (1997), Accounting Manager PT Astra International
– Toyota Sales Operation Auto 2000 (1991)
President Director
Hindra Tanujaya
Finance Director
Jany Candra
Business and Services
Director
Maickel Tilon
Operational Director
Rallyati A.
Wibowo
Logistic & GA
Director
(Un-Affiliated Director)
Current position since 2007,
Working Experience in Industry : 13 Years
Previously held position: Management and Business Development Manager PT
Serasi Autoraya (2005-2007), Marketing and Customer Service Manager PT
Serasi Autoraya (2005)
Current position since 2007,
Working Experience in Industry : 18 Years
Previously held position: Regional Manager PT Serasi Autoraya (1994-2007)
Current position since 2012
Previously held position: Finance and Administrative Director PT Indospec Asia
(April 2012-July 2012), Audit Committee PT Tugu Pratama Indonesia (20102011), Vice President of Risk Management PT Surya Citra Media (April 2009October 2009), Vice President of Accounting and Finance, Human Resource,
and General PT Surya Citra Media (2005-2009), Vice President Finance and
Accounting PT Kustodian Sentral Efek Indonesia (1995-2005), Vice President of
Corporate Comptroller PT Sewu New York Life (1992-1995), Assistant Manager
Price Waterhouse (1986-1992)
22
3Business
Strategies
23
Key Strategies
Expand Market
Share
Add new branch and
representative offices
Improve on customer
service, quality as well
as product availability
and choices offered to
customers
Increase customer
satisfaction by
improving brand image,
technology, vehicles,
human resource
development and
loyalty program
More Effective &
Efficient
Continuous evaluation
on business process and
continuous
improvement on
operational procedures
Continuous human
resource development,
QCC Convention, GCG,
Risk Management and
HSE
Continuous evaluation
and development of
AQUCARE and SMART
driver
Internal development
of information
technology
Diversify the
Business
Provide driver for hire
service to customers
Galeri Mobil:
Alternative sourcing of
vehicles through
external wholesale
purchase and provide
credit facility to
customers
ASSA Logistic:
Integrated warehouse
and distribution
management
Bidwin: Establish Used
car Auction House in
order to reach the
optimum price for
24
Matching Cash Flow to Debt
Management Strategy
New
Productive
Assets /
Vehicles
Loan to
purchase
productive
assets / new
vehicles
Rent & Maintain
Monthly Rental
Revenue
Vehicle
Disposal
± 4 years for
passenger
± 7 years for
commercial
Payment to reduce
outstanding loans
Reven
ue
Loan
Facility
Ballon Payment
on Outstanding
Loan
25
Entering the Used Car Auction
Business
Reasons to enter Used Car Auction
Business?
• Synergic with ASSA business, which practically an
extension of our existing used car tender
• Demand for Used Automotive is still very high, car
in the lifecycle changed ownership up to 4 times
• Growing market for repossess vehicles services, in
which financial companies must outsource the
sales of repossess vehicle to a third party
• Create a transparent market making activity for
our customers
Detail of Operation
• Operation will commence beginning of June 2014
in our existing land in Tipar, Cakung Jakarta.
• Taking advantage of our nationwide network, by
2015 we expect to expand our operation site to 2
additional major cities in Indonesia.
4 Business
Prospect
27
High Growth Potential in the Industry
GDP Growth
Source:
BPS
Car Sales in Indonesia
Source: Gaikindo
•
New car sales in Indonesia have shown positive growth in the last several years with some
growth potentials expected ahead
•
Positive GDP growth and car sales growth expectations will translate to increasing demand of
car rental services
28
5Financial
Highlights
29
ASSA 1H2014 Highlight
(IDR in billions)
Balance
Sheet
Total Asset
Total Liability
Total Equity
1H2014 2013
2363.2
2172.2
1347.2
1541.9
4
821.3
824.99
1H201
3
2002.3
1347.2
825
(IDR in billions)
Income
Statement
Revenue
Gross Profit
Operating
Income
EBITDA
Net Income
Unit in Operation
1H2014
531.3
167.9
YoY
FY2013 1H2013 growth
1018.9
494.7
7.40%
345.7
164.9
1.82%
97.7
232.1
26.9
13841
218.86
463.6
92.01
12937
110.8
227.5
43.1
12059
-11.82%
2.02%
-37.59%
14.78%
Sustainable Growth in Key Businesses
ASSA Rent
Used Car
Revenue
Revenue
(IDR in billions)
(IDR in billions)
800
700
160
675.94
140
600
113.2
120
500
400
330.4
382.33
100
73.5
80
300
60
200
40
100
20
0
2013
1H2013
1H2014
Revenue
(IDR in billions)
120
98
80
68.4
75.5
60
40
20
0
2013
0
2013
ASSA Logistics
100
147
1H2013
1H2014
1H2013
1H2014
Strong Operating Performance
Revenue
EBITDA
(IDR in billions)
(IDR in billions)
1200
1000
1018.9
800
600
494.7
531.3
1H2013
1H2014
400
200
0
FY2013
500
450
400
350
300
250
200
150
100
50
0
2013
Net Profit
Operating
Profit
(IDR in billions)
250
227.5
232.1
1H2013
1H2014
(IDR in billions)
218.86
200
150
110.8
100
97.7
50
0
2013
463.6
1H2013
1H2014
100
90
80
70
60
50
40
30
20
10
0
92.01
43.1
26.9
2013
1H2013
1H2014
TBK
PUBLIC EXPOSE
September 18th, 2014
Table of Content
1
Overview
of PT Adi Sarana Armada Tbk (“ASSA”)
2Investment
Highlights
3Business
Strategies
4 Business
Prospect
5Financial
Highlights
2
1
Overview
of PT Adi Sarana Armada Tbk (“ASSA”)
3
Milestone
2007 June.
Organization &
Business
Restructuring
Focus on IT
Investment to
support
business
Operating
around
2,000
2006
May.
rental unit
Established
ADIRA
Logistics
Service
2008 February.
Launched iSTAR
system
2008
Launched 6
(six) new
branches in
Malang,
Pekanbaru,Bata
m, Manado,
Bali and
200
200
Semarang
8
2003 January.
Start
Operational
as ADIRA
Rent
800++
rental units
2004
October.
Established
ADIRA Driver
Services
9
2009
February.
Obtained
ISO
9001:2000
2010 October.
Change Company’s Brand
from
ADIRA into ASSA
201
0
2011
2011 July.
Obtained ISO
9001:2008
2011
August.
Obtained ISO
201114001:2004
September.
Obtained Ohsas
18001:2007
2011
February.
Start Galeri Mobil as
used car business unit
2011 June.
Receive IMAC Award
as Indonesia’s Most
Admired Companies
2011 March.
Receive ReBi Award
as Highest Growth
Indonesia Rental Car
Company
2011 November.
Receive Indonesia
Excellence Award
as Emerging
Logistics Service
Provider of the Year
2012
2012 April.
Receive ReBi Award
as Highest Growth
Indonesia Rental Car
Company
2012 June.
Receive IMAC
Award
as Indonesia’s
Most Admired
2012
Companies
November.
GO Public –
Listed in IDX
2013 February.
Receive Top
Brand Award for
car rental
category
2013 March.
Receive Contact
Center Service
Excellence Award
for call center
category
2013 November
Obtained ISO
9001, ISO 14001,
OHSAS 18001 &
UKAS
2013
2013 December
Receive
Indonesia Best
Corporate
Transformation
2013
Receive
Indonesia Good
Corporate
2013Governance
December.
Awardrental
2013
12,937
units
2,600++
drivers
2014
Established
BidWin
(Automotive
Auction)
Target fleet:
15000++
rental units
2014
Receive Corporate
Image Award
2014, car rental
category
Receive The Best
Contact Center
Indonesia 2014
(Platinum category
for Supervisor)
Receive Service
Quality Award
2014 for car rental
category
Line of Business
14,095++ rental unit
18 branch offices
Rental
600++ logistic unit
8 operational point
100++ car unit capacity
2 Showroom
Logistic
ASSA Rent provides
long term car rental
service that includes
package with
monthly periods (at
least 1 month) and
annually. These
services help your
companies in
managing
transportation needs,
both for operations
and vehicles for the
management team.
ASSA also provides
integrated logistics
services to fulfill your
company needs of
transportation
management through
route optimization,
delivery management,
setting delivery times,
and the application of
risk management in
accordance with best
practice industry
standards.
ASSA Rent short term
rental service includes
daily and weekly
rental packages to
accommodate
business travel,
personal agenda, and
ASSA Logistics is
intended to meet the
needs of customers in
supply chain
management to
provide qualified goods
storage facilities
Used Car
Galeri Mobil engages
in trading (buyingselling)
of
high
quality used cars by
wholesale and retail
2,600++ drivers
SMART Driver
Driver
Service
ASSA Driver
Services was
established to meet
customer needs of
driver for operating
vehicle rented from
ASSA Rent or
ASSA Logistics.
Thus ASSA Driver
Services, which
currently managing
more than 2,500
personnel, strive to
provide qualified
professional driver
with high skills
through training and
good coaching.
1 Auction site
Used Car Auction
Bidwin was
established in mid
2014. Currently we
auction around 200
units per month,
and we also have
network of 500
used car dealer
across the nation.
The size of our
operation site in
Jakarta is
approximately 2.7
hectare
5
Business Highlights
Market
Leader
The Business
Leading
corporate car
rental in
Indonesia
Corporate
Transportation
and Integrated
Logistic Solution
Provider, and
related
value
*)Company
estimate
chain
No. 2 corporate
car rental in
Indonesia based
on numbers of
rental unit*)
14,095++ rental
unit
Vision
To be the Best Corporate
Transportation
& Integrated Logistic Solution
Provider
Mission
“We dedicate ourselves in
maximizing
& serving through a commitment
that leads the organization to
highest levels of quality, customer
care, employee engagement &
shareholder value”
Nationwide
Nationwide
coverage
18 branch
offices
8 logistic
operation points
2 used car
outlets
597++
authorized
service centers
2,600++ drivers
Prestigious
Customers
Robust 1H2014
Financial
Diversified
industry of
customers
significant
portion of
customer which
is leader in their
industry
Revenue : IDR 531.35
bn
EBITDA : IDR 232.1 bn
Net Income : IDR 26.9
bn
Value
Spirit of unity
Perfection in all we do
Empathic communication
Enjoyable working environment
Discipline and integrity
6
Corporate Structure
(TP Rachmat and Family)
50.08%
PT Adi
Dinamika
Investindo
24.94%
PT Daya
Adicipta
Mustika
TP Rachmat
PT Plaza
Auto Mitra
Management
5.97%
4.58%
12.19%
19.17%
Public
33.51%
PT Adi Sarana
Armada Tbk
99.80%
PT Duta Mitra
Solusindo *)
99.50%
PT Adi Sarana
Logistik **)
99%
PT Adi Sarana
Lelang***)
*) PT Duta Mitra Solusindo operates ASSA Driver Service
**) Established on July 2012 to handle ASSA Logistic Service
As of March 31st 2014
***)Established on June 2014 to handle Bidwin Auction Service
7
Board of Commissioners & Directors
Board of Commissioners – Strong Focus on Corporate Governance
Hadi Kasim
President
Commissioner
Thomas H.
Setjokusumo
Independent
Commissioner
Board of Directors – Committed to Shareholder Value Creation
Rudyanto
Hardjanto
Commissioner
Prodjo
Sunarjanto
President
Director
Jany Candra
Business &
Services
Director
Hindra Tanujaya
Finance Director
Maickel Tilon
Operational Director
Rallyati A. Wibowo
Logistic & GA Directo
(Un-affiliated Directo
ASSA is run by a dedicated team of professionals, the majority of which had
relevant experience of over 10 years.
8
Triputra Group
Triputra Group is one of Indonesia’s leading Business groups, owned by Mr. TP Rachmat, who
previously worked with Astra Group for over 30 years including 16 years as the CEO and 6
years as Commissioner of PT Astra International Tbk.
Triputra Group was voted as one of the Top 10 Business Groups in Indonesia based on a
survey by Globe Asia 2011.
Kirana Megatara
Largest Crumb Rubber Processor
Padang Karunia Group
A Group of Mining Companies
Numerous Subsidiaries in
Mining, Infrastructure, Trading &
Contractor companies
Dharma Group
Metal Based manufacturing
Companies
Binabusana Internusa
Garment and Apparel Manufacturers
Lemindo Abadi Jaya
Adhesive Manufacturer & Exporter
and with a diversified portfolio in
Chemical Products
Assa Rent
2nd Largest Indonesian Corporate
Car Rental
Trading and Services
Triputra Agro Persada
Palm Oil Producer
Manufacturing
Mining
Agro
Business
Pako Group
Producer & Exporter of Steel & Alloy
wheel rims
Daya Adicipta Mustika
Honda Motorcycle Dealer
Daya Motor
Motorcycle Retailer
Puninar Logistics
Logistics Solutions Provider
Bank Sahabat Purbadanta
Microfinance services
9
2Investment
Highlights
10
1Leading Indonesian corporate rental company
Strategically Positioned to Meet
Indonesian Market
Rental
#2 in the market *)
14,095++ rental unit
18 branch offices
*)
Logistic
600++ logistic unit
8 operational point
Used Car
Driver
Service
100++ car unit capacity 2,600++ drivers
2 Showroom
SMART Driver
Company estimate based
on numbers of unit
Indonesia is one of the largest
market for automotive industry in
Asia
Large demand driven by corporate
segment still could not fulfilled by
Indonesian rental companies
Increasing corporate policy to
outsource its vehicles
Why Companies Prefer to Rent ?
• No need for Down payment
• Companies can focus on its core
business
• Risk transfer for insurance, vehicle
maintenance, human resources,
depreciation
As Indonesia’s leading corporate
rental company, ASSA is
strategically positioned to
benefit from the robust growth in
car rental market in Indonesia,
especially corporate segment
12
1Leading Indonesian corporate rental company
Fast-Growing Company in the Industry
(Rental Units)
16000
14000
12000
CA
10000
GR
31
.
%
81
12937
10969
6000
4158
35000
14095
30000
25000
8894
20000
35000
7049
8000
4000
7
(0
3)
-1
(Fleet size 2014)
15000
4972
10000
14095
5000
2463
2000
14000
8000
0
R1
ASSA
Source: Company Website
0
2007
2008
2009
2010
2011
2012
2013
R2
R3
8M2014
14,095++ vehicles and going strong (as of today)
Regardless of a significant number of players, the opportunity for growth is still enormous for
ASSA to capture.
ASSA does not have to win price wars, because this will only lower the quality of services
provided
ASSA wins by differentiating its range of products and increasing further the quality of services it
provides.
The increased market share, brand recognition of ASSA, and efficient operation management,
speaks for itself of the successful direction of ASSA.
Car Rental Company
with The Highest
Growth Record in
Indonesia (2011-2012)
13
1Leading Indonesian corporate rental company
Proven Business Performance
Historical per year Fleet utilization
ratio
93.1
In Percentage (%)
Revenue Contribution
In IDR million
92.6
92
92.2
92.2
100%
91.4
90%
80%
392,37
8
567,41
3
8.89%
9.51%
13.71%
14.69%
793,86
2
1,018,8
83
531,355
12.33%
13.96%
14.22%
18.59%
19.70%
13.82%
69.08%
66.34%
2012
2013
Used Car
Rent
70%
2009
2010
2011
2012
2013
1H2014
The dedicated and experienced
management and staff ,can estimate
and maintain a high Utilization ratio
(average at 90%).
60%
50%
40%
77.40%
75.80%
2010
2011
30%
71.96%
20%
A high Utilization rate is key to cost
effectiveness and higher profitability. As
the operations span the Indonesian
country, ASSA is strategically positioned
to facilitate better services and has the
ability to quickly respond to new orders.
Car Rental Services still contributes
approximately 80% of total revenue for
the last 5 (five) years. However ASSA’s
other line of business, also booked
strong revenue growth.
10%
0%
Logistic
1H2014
ASSA’s fleet expansion not only translates into
robust revenue growth from its Car Rental
Services, but also provides future income from
Used Car Sales Services.
14
1Leading Indonesian corporate rental company
Excellent Vehicle Portfolio Mix
Fleet Composition by Type of
Vehicle
As of 1H2014, Total Unit: 14,095 Vehicle
Fleet Composition by
Vehicle Age
Older than 5 years;
4-5 years; 4.58% 4.01%
6years
25%
1000
1 - 3years
20%
518
500
402
400
300
200
560
211
235
2008
2009
137
100
>3 - 6 years
40%
0
2007
2010
2011
2012
2013
1H2014
Strong Relationship with high quality corporate customers
16
Focus
2 on long term base customer to secure contracts
Secure Long Term Contract with
Strong
track record for
long term contract with its major customers
Corporate
Customer
Top Customer
Over 800 corporate customers with
secure and flexible long term
contract for ASSA side
1.3 trn IDR outstanding contract until
2020
Prestigious corporate customers
Contribution from Top Customer by
Fleet Size
As of August 2014
17
Customer
3 oriented corporate culture to provide best quality of service and achieve high customer satisfaction
Customer oriented corporate culture to provide highest
quality of service
AQUCARE
Appearance, Quick Response,
Understanding Customer,
Courtesy, Accuracy, Right
Solutions and Easy to Access
SMART driver
SPEED
Spirit of unity, Perfection in all we do, Empathic communication, Enjoyable working
environment, Discipline and integrity
donesia Emerging Domestic Logistics
Indonesia’s Most Admired
Service Provider of the Year
Companies
(Frost & Sullivan - 2011)
Category Car Rental Company
(Bloomberg Business Week &
Frontier 2011 & 2012)
ISO 9001
Indonesia’s Trusted Company based on ISO 14001
Good Corporate Governance Index OHSAS 18001
UKAS
18
Deep
4 and nationwide coverage supported by customized IT platform
Deep and Nationwide Coverage
We combine technical skills with marketing excellence.
Our extensive geographical coverage is a key factor to our
success.
Through geographical research, discipline and experience
in strategy implementation, we can place our excellent and
trained sales force and branches where it matters to our
clients.
18 Branch & 16 Affiliated Offices
597++ Authorized Service Centers
24/7 Support & Emergency Road Assistance
Fleet size by City
Growth in Branch
As of September 2014
# of Branch
Solo; 474 Bali; 637 Balikpapan ; 661
Lampung; 486Semarang ; 527
Surabaya; 1578 Bandung ; 1015
Banjarmasin; 577
Semarang ; 906
Jakarta1; 1233
Pekanbaru ; 911
Jakarta2; 1419
Palembang; 858 Jakarta3; 923
Medan ; 1675 Makassar; 1121
19
Deep
4 and nationwide coverage supported by customized IT platform
Upgrading Our IT Platform to SAP
One of the company’s breakthrough in escalating
operational process quality is by forming a customized IT
platform called iSTAR or Integrated System Technology
ASSA Rent, which integrates whole company’s aspects,
from front to back end processes.
As our company gets bigger and business development
becoming more complicated, we see the necessity for us
to upgrade our operating system from iStar to SAP. With a
strong and proven IT platform, we believe it will benefit
the development of our business in the long run.
20
Deep
4 and nationwide coverage supported by customized IT platform
Seamless Business Technology
Integration
(3) . Service
Delivery
(1.a) Preventive
Maintenance Call
3rd Party
Workshop
(2) . Dispatch
Order
Call Center
(1.b) Service Request
(5) Service
Recovery
Order if
Needed
ASSA Branches
(4) . Customer Satisfaction
Confirmation Call
CUSTOMIZED IT SYSTEM
ASSA Service
Point
SERVICE OREIENTED CULTURE
5 Experienced Management Team
Experienced Management Team
Prodjo
Sunarjanto
Current position since 2011,
Working Experience in Industry: 21 Years
Previously held position: CEO PT Astra International – Toyota Sales Operation
Auto 2000 (2005-2010), Commissioner PT Serasi Autoraya (2006-2007),
President Commissioner PT Toyo Fuji Logistic (2005-2007), Director Astra Mitra
Ventura (2000-2005), President Director PT Serasi Autoraya (1994-2005),
General Manager PT Serasi Autoraya (1991-1994)
Current position since 2007,
Working Experience in Industry : 21 Years
Previously held position: Operational General Manager Mobil’88 (PT Astra
International – Used Car) (2006-2007), Accounting and Finance General
Manager PT Serasi Autoraya (1997), Accounting Manager PT Astra International
– Toyota Sales Operation Auto 2000 (1991)
President Director
Hindra Tanujaya
Finance Director
Jany Candra
Business and Services
Director
Maickel Tilon
Operational Director
Rallyati A.
Wibowo
Logistic & GA
Director
(Un-Affiliated Director)
Current position since 2007,
Working Experience in Industry : 13 Years
Previously held position: Management and Business Development Manager PT
Serasi Autoraya (2005-2007), Marketing and Customer Service Manager PT
Serasi Autoraya (2005)
Current position since 2007,
Working Experience in Industry : 18 Years
Previously held position: Regional Manager PT Serasi Autoraya (1994-2007)
Current position since 2012
Previously held position: Finance and Administrative Director PT Indospec Asia
(April 2012-July 2012), Audit Committee PT Tugu Pratama Indonesia (20102011), Vice President of Risk Management PT Surya Citra Media (April 2009October 2009), Vice President of Accounting and Finance, Human Resource,
and General PT Surya Citra Media (2005-2009), Vice President Finance and
Accounting PT Kustodian Sentral Efek Indonesia (1995-2005), Vice President of
Corporate Comptroller PT Sewu New York Life (1992-1995), Assistant Manager
Price Waterhouse (1986-1992)
22
3Business
Strategies
23
Key Strategies
Expand Market
Share
Add new branch and
representative offices
Improve on customer
service, quality as well
as product availability
and choices offered to
customers
Increase customer
satisfaction by
improving brand image,
technology, vehicles,
human resource
development and
loyalty program
More Effective &
Efficient
Continuous evaluation
on business process and
continuous
improvement on
operational procedures
Continuous human
resource development,
QCC Convention, GCG,
Risk Management and
HSE
Continuous evaluation
and development of
AQUCARE and SMART
driver
Internal development
of information
technology
Diversify the
Business
Provide driver for hire
service to customers
Galeri Mobil:
Alternative sourcing of
vehicles through
external wholesale
purchase and provide
credit facility to
customers
ASSA Logistic:
Integrated warehouse
and distribution
management
Bidwin: Establish Used
car Auction House in
order to reach the
optimum price for
24
Matching Cash Flow to Debt
Management Strategy
New
Productive
Assets /
Vehicles
Loan to
purchase
productive
assets / new
vehicles
Rent & Maintain
Monthly Rental
Revenue
Vehicle
Disposal
± 4 years for
passenger
± 7 years for
commercial
Payment to reduce
outstanding loans
Reven
ue
Loan
Facility
Ballon Payment
on Outstanding
Loan
25
Entering the Used Car Auction
Business
Reasons to enter Used Car Auction
Business?
• Synergic with ASSA business, which practically an
extension of our existing used car tender
• Demand for Used Automotive is still very high, car
in the lifecycle changed ownership up to 4 times
• Growing market for repossess vehicles services, in
which financial companies must outsource the
sales of repossess vehicle to a third party
• Create a transparent market making activity for
our customers
Detail of Operation
• Operation will commence beginning of June 2014
in our existing land in Tipar, Cakung Jakarta.
• Taking advantage of our nationwide network, by
2015 we expect to expand our operation site to 2
additional major cities in Indonesia.
4 Business
Prospect
27
High Growth Potential in the Industry
GDP Growth
Source:
BPS
Car Sales in Indonesia
Source: Gaikindo
•
New car sales in Indonesia have shown positive growth in the last several years with some
growth potentials expected ahead
•
Positive GDP growth and car sales growth expectations will translate to increasing demand of
car rental services
28
5Financial
Highlights
29
ASSA 1H2014 Highlight
(IDR in billions)
Balance
Sheet
Total Asset
Total Liability
Total Equity
1H2014 2013
2363.2
2172.2
1347.2
1541.9
4
821.3
824.99
1H201
3
2002.3
1347.2
825
(IDR in billions)
Income
Statement
Revenue
Gross Profit
Operating
Income
EBITDA
Net Income
Unit in Operation
1H2014
531.3
167.9
YoY
FY2013 1H2013 growth
1018.9
494.7
7.40%
345.7
164.9
1.82%
97.7
232.1
26.9
13841
218.86
463.6
92.01
12937
110.8
227.5
43.1
12059
-11.82%
2.02%
-37.59%
14.78%
Sustainable Growth in Key Businesses
ASSA Rent
Used Car
Revenue
Revenue
(IDR in billions)
(IDR in billions)
800
700
160
675.94
140
600
113.2
120
500
400
330.4
382.33
100
73.5
80
300
60
200
40
100
20
0
2013
1H2013
1H2014
Revenue
(IDR in billions)
120
98
80
68.4
75.5
60
40
20
0
2013
0
2013
ASSA Logistics
100
147
1H2013
1H2014
1H2013
1H2014
Strong Operating Performance
Revenue
EBITDA
(IDR in billions)
(IDR in billions)
1200
1000
1018.9
800
600
494.7
531.3
1H2013
1H2014
400
200
0
FY2013
500
450
400
350
300
250
200
150
100
50
0
2013
Net Profit
Operating
Profit
(IDR in billions)
250
227.5
232.1
1H2013
1H2014
(IDR in billions)
218.86
200
150
110.8
100
97.7
50
0
2013
463.6
1H2013
1H2014
100
90
80
70
60
50
40
30
20
10
0
92.01
43.1
26.9
2013
1H2013
1H2014